Order Book Or Contract Wins
Expected: H1 FY26MEDIUM confidence
What: New Tower Orders: 60 4G/5G towers from Vodafone
“Additonal sites - 60 4G/5G towers received from vodafone.”
Sar Televenture Ltd: Is It a Deep Value Opportunity?
Average
As of , Sar Televenture Ltd (Telecom Services) has a deep value score of 59/100 (rated Average). 1Y return vs Nifty 500: -39%.
Sar Televenture Ltd Key Facts
- PE Ratio
- 11.3x
- Market Cap
- ₹757 Cr
- Value Score
- 59/100
- Margin of Safety
- 246%
- PAT Growth YoY
- +125%
- Revenue Growth YoY
- +107%
- OPM
- 19.0%
PE: Cycle BottomStrong Opportunity
What's Happening
💎PE falling while earnings hold — value emerging
💪Debt reduced 62% YoY — balance sheet strengthening
👔Promoter stake down 12.1% this quarter
🌐FII stake decreased 2.1% this quarter
🏛️DII accumulation — stake up 3.7%
💰Trading 246% below estimated fair value — significant discount
Earnings Acceleration Triggers
1. Order Book Or Contract Wins
H1 FY26MEDIUM
2. Operating Leverage Inflection
H1 FY26HIGH
3. Geographical Expansion
Post-acquisitionHIGH
Key Risks
1. Timeline for regulatory approvals for the Tikona acquisition is uncertain
MEDIUM2. Working capital is heavily used for manpower and day-to-day construction expense
LOWSector-Specific Signals
Total Telecom Towers Completed1,200 Towers
Home Passes Added (H1 FY26)75,000
Total Home Passes Acquired1,52,212
Current Capex Plan₹375-400 Crore
Key Numbers
PAT Growth YoY
+125%
Stable
Revenue YoY
+107%
Stable
Operating Margin
19.0%
+500 bps YoY
PE Ratio
11.3
PEG Ratio
0.01
Current Price
₹153
3Y PAT CAGR
+80%
Market Cap
757 Cr
Valuation
Significantly UndervaluedWhy Are Sar Televenture Ltd's Earnings Accelerating?
Based on Q2 FY26 earnings • Updated Apr 18, 2026
Operating Leverage Inflection
Expected: H1 FY26HIGH confidence
What: EBITDA Margin: 18.82%
Impact: 300 bps expansion
“towers infrastructure is now ready for tower sharing model leading to increased revenue with low CAPEX.”
Geographical Expansion
Expected: Post-acquisitionHIGH confidence
What: New Markets: 5 Southern States
Impact: 4.5 lakh new customers
“Expands presence into southern markets — Karnataka, Tamil Nadu, Kerala, Telangana, and Andhra Pradesh.”
Regulatory Approval Or License Win
Expected: Q4 FY25 or Q1 FY26HIGH confidence
What: Tikona Regulatory Approval: Pending
Impact: ₹200 Cr Revenue
“We are in the final stage of submitting the documents with them... expecting that either it will come by the end of this quarter or in the first quarter of next year.”
Value Added Product Mix Shift
Expected: H1 FY26MEDIUM confidence
What: FTTH Connections: 75,000 added
“Additional 75,000 Home passes completed in H1FY26.”
EBITDA Margin of 18.82% in H1 FY26
HIGH confidence
What: EBITDA Margin of 18.82% in H1 FY26
“With MSA signed with 3 major Telcos, the towers infrastructure is now ready for tower sharing model leading to increased revenue with low CAPEX.”
What Are the Key Risks for Sar Televenture Ltd?
Earnings deceleration risks from management commentary
Timeline for regulatory approvals for the Tikona acquisition is uncertain
MEDIUMTrigger: Depends on the regulatory body's queries and processing time.
Management view: Management is in the final stages of document submission and expects approval by Q1 FY26.
Monitor: regulatory
Working capital is heavily used for manpower and day-to-day construction expense
LOWTrigger: The business is construction-heavy, requiring significant labor management.
Management view: Company claims to have adequate working capital placed for current and augmented operations.
Monitor: labor
What Is Sar Televenture Ltd's Management Saying?
Key quotes from recent conference calls
“Then SAR stand-alone is again poised at approximate INR9.5 crores of revenue in the nine months, which is again expected to see 100% growth in FY '25. [Previous Revenue Growth guidance]”
“I would say that the capex that we have planned will be adding close to approximate 400 to 500 number of towers by this quarter end. [Previous Tower Additions guidance]”
“Tikona has a top line of approximately INR200 crores last year, FY '24... Tikona is majorly into enterprise connections of approximately 9,000 to 10,000 clients. [Initiative: Tikona Infinet Acquisition]”
“With MSA signed with 3 major Telcos, the towers infrastructure is now ready for tower sharing model leading to increased revenue with low CAPEX. [Initiative: Tower Sharing Model]”
What Did Sar Televenture Ltd Report This Quarter?
Headline numbers from the latest earnings call
Revenue
₹241.76 Crore
YoY +94.8%
Why: Growth was driven by the acquisition of Fusionnet and Parametrique and the addition of 75,000 home passes in H1 FY26.
Revenue for the first half of FY26 has already reached nearly 70% of the total FY25 revenue.
EBITDA
₹45.49 Crore
YoY +158.3%Margin 18.82%
Why: Margin expansion was driven by the transition to a tower sharing model and operational synergies from recent acquisitions.
EBITDA margins improved significantly from 15.83% in FY25 to 18.82% in H1 FY26.
PAT
₹36.26 Crore
YoY +131.5%
Why: Profitability increased due to higher operating margins and the clubbing of project management revenue from the Dubai subsidiary.
PAT margins reached 15% in H1 FY26 compared to 13.4% for the full year FY25.
Other Highlights
• Completed 1,200 4G/5G telecom infrastructure towers as of H1 FY26.
• Acquired 1,52,212 Home Passes under LOIs/RoWs for the optic fibre business.
• Total customer base expected to reach ~8.5 lakh following the Blue Lotus and Whitefield acquisitions.
What Sector Metrics Matter for Sar Televenture Ltd?
Sub-sector-specific signals from the latest concall — each with management's stated reason for the change
Total Telecom Towers Completed
1,200 Towers
Why: Ongoing installation and commissioning of 4G/5G towers.
Home Passes Added (H1 FY26)
75,000
Why: Aggressive expansion into the FTTH business segment.
Total Home Passes Acquired
1,52,212
Why: Acquired under various LOIs and Rights of Way (RoWs).
Current Capex Plan
₹375-400 Crore
Why: Funding for tower installation and FTTH infrastructure.
Tikona Annual Revenue
₹200 Crore
Why: Historical revenue of the target acquisition company.
Fusionnet Annual Revenue
₹44-45 Crore
Why: Revenue from the recently acquired Fusionnet entity.
Debt to Equity Ratio
Not Applicable
Why: The company claims to have no debt.
Total Employees
149
Why: Current workforce supporting operations and projects.
Ongoing Projects
18+
Why: Active infrastructure and network solution projects.
ITMS and Smart Meter Order Value
₹90 Crore
Why: Orders for camera and smart meter installations.
What Is Sar Televenture Ltd's Management Guidance?
Forward-looking targets from management for Quarter-on-quarter
Revenue Growth Target
32.5%
Capex Plan
₹400 Cr
Revenue Outlook
30-35%
Capex Plan
₹375 to 400 crores
Installation of towers and expanding FTTH business by commissioning further RFS.
Volume
Expecting 50,000 to 60,000 operational FTTH connections by this fiscal.
Management Tone: BULLISH
Guidance Changes
LOWERED
Tikona Acquisition Cost: X amount → Reduced by approximately INR100 crores
How Fast Is Sar Televenture Ltd Growing?
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +107% | +80% | Stable |
| PAT (Net Profit) | +125% | +80% | Stable |
| OPM | 19.0% | +500 bps | Volatile |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 18, 2026.
Other Deep Value Stocks in Telecom Services
Frequently Asked Questions: Sar Televenture Ltd
Based on publicly available financial data. This is educational research, not investment advice.
What is Sar Televenture Ltd's deep value score?
Sar Televenture Ltd has a deep value score of 59/100 (rated Average). This score is calculated from three components
- Earnings Score: 21/40 — measures PAT growth momentum across quarters
- Underperformance Score: 20/35 — how much the stock trails Nifty 500 (deeper underperformance = higher contrarian signal)
- Quality Score: 10/25 — operational quality (margins, revenue growth, valuation)
Is Sar Televenture Ltd fundamentally improving?
Sar Televenture Ltd's quarterly profit (PAT) growth trajectory
- Latest Quarter PAT Growth (QoQ): +17%
- Previous Quarter PAT Growth (QoQ): +93%
- 2 Quarters Ago PAT Growth (QoQ): +38%
- PAT Acceleration: -10.3pp (profits are decelerating)
- 3 consecutive quarters of positive PAT growth
Why is Sar Televenture Ltd underperforming despite good earnings?
Sar Televenture Ltd is underperforming the market despite improving earnings — this is the core deep value thesis
- 1-Year Return vs Nifty 500: -39%
- 6-Month Return vs Nifty 500: -8%
- 3-Month Return vs Nifty 500: -24%
- Yet average quarterly PAT growth is +49% — earnings are improving
- The market often takes time to re-rate stocks with improving fundamentals. This gap between price performance and earnings improvement is what deep value research seeks to identify.
What is the earnings momentum for Sar Televenture Ltd?
Sar Televenture Ltd's earnings momentum is Decelerating — growth rate is slowing.
- PAT QoQ progression: +38% → +93% → +17% (2Q ago → 1Q ago → latest)
- Acceleration: -10.3pp
- PAT YoY Growth: +125%
Is Sar Televenture Ltd undervalued?
Sar Televenture Ltd's valuation metrics
- Price-to-Earnings (PE): 2.3x
- Price-to-Book (PB): 0.9x
- PEG Ratio: 0.0x
- Margin of Safety: +278% (appears undervalued)
What are the revenue and margin trends for Sar Televenture Ltd?
Sar Televenture Ltd's revenue and margin trends
- Latest Quarter Revenue Growth (QoQ): +4%
- Average Quarterly Revenue Growth: +45%
- Revenue Acceleration: -14.3pp
- Latest OPM Change: +2.1pp (margins expanding)
- Average OPM Change: +1.6pp
- Revenue YoY: +107%
What sector does Sar Televenture Ltd belong to?
Sar Televenture Ltd key facts
- Sector: Telecom Services
- Market Cap: ₹757 Cr
- Rank in Telecom Services: #1 by value score
- Overall rank among all deep value stocks: #25
Is Sar Televenture Ltd a good deep value opportunity to study?
Sar Televenture Ltd shows limited deep value signals currently — score is 59/100 (Average). Monitor for improvement.
- Value Score: 59/100 (Average)
- Earnings: Not accelerating
- 1Y Underperformance: -39% vs Nifty 500
What is the bull and bear case for Sar Televenture Ltd?
Research Signals (Bull Case)
- 3 consecutive quarters of positive PAT growth
- Appears undervalued based on fair value analysis
- Operating margins expanding
Risk Factors (Bear Case)
- Earnings growth decelerating
- Significant underperformance (-39% vs Nifty 1Y)
Which other Telecom Services stocks are deep value opportunities?
Other deep value stocks in Telecom Services
- Tejas Networks Ltd — Score 10/100, Very Weak
How does the Telecom Services sector look for deep value?
Telecom Services deep value sector overview
- 1 deep value stocks in this sector
- Average value score: 35/100
- Avg PAT acceleration: -10.3pp
- Top pick: Sar Televenture Ltd
What is deep value investing?
Deep value investing studies stocks that are underperforming the market despite showing improving fundamentals. The thesis is that the market has not yet recognized the earnings recovery, creating a potential valuation gap. It requires patience — recovery can take several quarters.
How is the deep value score calculated?
The deep value score (0-100) combines three factors:
- Earnings (0-40 pts): PAT growth across last 3 quarters, acceleration, and consecutive growth - Underperformance (0-35 pts): How much the stock trails Nifty 500 over 1Y, 6M, 3M (deeper underperformance = higher score) - Quality (0-25 pts): Revenue growth, margin trends, and valuation metrics (PEG, P/B)
Higher score indicates a stronger contrarian research signal.
What are the growth catalysts for Sar Televenture Ltd?
Sar Televenture Ltd has 6 key growth catalysts identified from recent earnings analysis
- Order Book Or Contract Wins
- Operating Leverage Inflection
- Geographical Expansion
- Regulatory Approval Or License Win
What are the key risks in Sar Televenture Ltd?
Sar Televenture Ltd has 2 key risks worth monitoring
- Timeline for regulatory approvals for the Tikona acquisition is uncertain
- Working capital is heavily used for manpower and day-to-day construction expense
What did Sar Televenture Ltd's management say in the latest earnings call?
In Q2 FY26, Sar Televenture Ltd's management highlighted
- "Then SAR stand-alone is again poised at approximate INR9.5 crores of revenue in the nine months, which is again expected to see 100% growth in FY '25...."
- "I would say that the capex that we have planned will be adding close to approximate 400 to 500 number of towers by this quarter end. [Previous Tower ..."
- "Tikona has a top line of approximately INR200 crores last year, FY '24... Tikona is majorly into enterprise connections of approximately 9,000 to 10,0..."
The above FAQs are generated from publicly available earnings data. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.