# Telecommunications - Service Provider — company-by-company sector analysis > Telecommunications - Service Provider: STL Networks Ltd owns the largest revenue base AND the fastest current growth. Sector Alpha — machine-written from the numbers. Data as of 2026-08-16. Not investment advice. ## Bottom line Telecommunications - Service Provider has outperformed NIFTY 500 by 28.9% over 52 weeks and 7% over 13 weeks. 1 of 1 covered companies beat NIFTY on Mansfield relative strength, while 1 of 1 beat the sector itself. STL Networks Ltd leads with revenue of ₹945 crore, based on 1 of 2 comparable companies through Jun 2026. ## Sector relative strength Telecommunications - Service Provider has outperformed NIFTY 500 by 28.9% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 7%. 1 of 1 covered company currently beats NIFTY on Mansfield relative strength, so leadership inside the sector is broad. Bharti Airtel Ltd Partly Paidup is the strongest against the sector itself at +2.6%. 13-week sector return versus NIFTY 500: -7.0% 52-week sector return versus NIFTY 500: 29% Stocks leading NIFTY: 1/1 Stocks leading sector: 1/1 Central tension: The central tension: current leadership is concentrated, so durability matters more than rank. Companies: 2 Combined market value: ₹1.3K Cr ## 4-Factor Sector Score An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment. 1. Bharti Airtel Ltd Partly Paidup (AIRTELPP): 57/100 — Thin evidence · provisional; evidence 19% - Growth & earnings 17.5/35 | Capital efficiency 14.9/25 | Valuation 10.0/20 | Relative strength 14.4/20 - Led NIFTY 500 by 5%+ over the prior 13 weeks in 11 of the last 12 weeks, ending 2026-02-08 (no longer priced) - Exact sum: 17.5 + 14.9 + 10 + 14.4 = 56.8 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 2. STL Networks Ltd (STLNETWORK): 32/100 — Thin evidence · provisional; evidence 49% - Growth & earnings 11.1/35 | Capital efficiency 0.6/25 | Valuation 10.0/20 | Relative strength 10.0/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 7 of the last 12 weeks - Exact sum: 11.1 + 0.6 + 10 + 10 = 31.7 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. ## Market action STL Networks Ltd has the strongest one-year price move in Telecommunications - Service Provider at +23.1%. Bharti Airtel Ltd Partly Paidup leads on Mansfield relative strength against NIFTY at +4.1%. 1 of 1 covered company is above zero on that measure. Every line covers 313 weekly closes through 2026-08-14. ### Strongest one-year price performers 1. STL Networks Ltd (STLNETWORK): 23% 2. Bharti Airtel Ltd Partly Paidup (AIRTELPP): 11% ### Strongest relative strength versus NIFTY 500 1. Bharti Airtel Ltd Partly Paidup (AIRTELPP): 4.1% ## Revenue Scale & Growth Durability What the numbers say: STL Networks Ltd is the scale leader at ₹945 crore, STL Networks Ltd's growth is -7% from a ₹945 crore base, with 9 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale. Investor read: STL Networks Ltd is the scale benchmark; STL Networks Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns. This conclusion weakens if: STL Networks Ltd's growth falls below STL Networks Ltd's for two consecutive comparable reports while operating margin also compresses. Evidence: STL Networks Ltd · ₹945 crore | Not enough peers | 2/5 recent comparable periods | 1/2 companies · 9 observations Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress. ### Revenue — largest 1. STL Networks Ltd (STLNETWORK): ₹945 Cr ### Revenue growth — fastest growers 1. STL Networks Ltd (STLNETWORK): -7.0% ### 10-quarter Revenue history - STLNETWORK: Mar 2024 — | Jun 2024 ₹355 Cr | Sep 2024 ₹357 Cr | Dec 2024 ₹288 Cr | Mar 2025 ₹181 Cr | Jun 2025 ₹190 Cr | Sep 2025 ₹231 Cr | Dec 2025 ₹335 Cr | Mar 2026 ₹203 Cr | Jun 2026 ₹176 Cr ### 10-quarter Revenue growth history - STLNETWORK: Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 -46% | Sep 2025 -35% | Dec 2025 16% | Mar 2026 12% | Jun 2026 -7.4% ## Operating Economics & Margin Trend What the numbers say: STL Networks Ltd leads both opm at 4.7% and margin change at +2.5 percentage points. Investor read: STL Networks Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it. This conclusion weakens if: The next two comparable reports reverse the current margin change signal. Evidence: STL Networks Ltd · 4.7% | Not enough peers | 1/5 recent comparable periods | 1/2 companies · 9 observations Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth. ### OPM — highest 1. STL Networks Ltd (STLNETWORK): 4.7% ### Margin change — fastest expanders 1. STL Networks Ltd (STLNETWORK): +2.5 pp ### 10-quarter OPM history - STLNETWORK: Mar 2024 — | Jun 2024 6.0% | Sep 2024 7.0% | Dec 2024 7.0% | Mar 2025 2.6% | Jun 2025 2.2% | Sep 2025 2.8% | Dec 2025 7.0% | Mar 2026 2.5% | Jun 2026 4.7% ### 10-quarter Margin change history - STLNETWORK: Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 −3.8 pp | Sep 2025 −4.2 pp | Dec 2025 0.0 pp | Mar 2026 −0.1 pp | Jun 2026 +2.5 pp ## Profit Scale & Acceleration What the numbers say: STL Networks Ltd leads net profit at ₹99 crore net cash; the second comparison lacks enough current evidence. Investor read: STL Networks Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it. This conclusion weakens if: The next two comparable reports reverse the current profit growth signal. Evidence: STL Networks Ltd · ₹99 crore net cash | Not enough peers | 0/2 recent comparable periods | 1/2 companies · 9 observations Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank. ### Net profit — largest 1. STL Networks Ltd (STLNETWORK): ₹-99 Cr ### Profit growth — fastest growers ### 10-quarter Net profit history - STLNETWORK: Mar 2024 — | Jun 2024 ₹1 Cr | Sep 2024 ₹5 Cr | Dec 2024 ₹-17 Cr | Mar 2025 ₹-21 Cr | Jun 2025 ₹-22 Cr | Sep 2025 ₹-19 Cr | Dec 2025 ₹-11 Cr | Mar 2026 ₹-47 Cr | Jun 2026 ₹-22 Cr ### 10-quarter Profit growth history - STLNETWORK: Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 -2,300% | Sep 2025 -480% | Dec 2025 — | Mar 2026 — | Jun 2026 — ## Return On Capital Employed What the numbers say: STL Networks Ltd leads ROCE at 0.6%. STL Networks Ltd has the strongest latest improvement at -4.3 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability. Investor read: STL Networks Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it. This conclusion weakens if: The next two comparable reports reverse the current roce change signal. Evidence: STL Networks Ltd · 0.6% | Not enough peers | 0/1 recent comparable periods | 1/2 companies · 5 observations Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability. ### ROCE — highest 1. STL Networks Ltd (STLNETWORK): 0.6% ### ROCE change — fastest improvers 1. STL Networks Ltd (STLNETWORK): −4.3 pp ### 10-quarter ROCE history - STLNETWORK: Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 6.5% | Jun 2025 5.3% | Sep 2025 3.2% | Dec 2025 2.9% | Mar 2026 2.2% | Jun 2026 — ### 10-quarter ROCE change history - STLNETWORK: Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 −4.3 pp | Jun 2026 — ## Valuation Against Growth & Quality What the numbers say: There is not enough comparable evidence to name a reliable peg leader. Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy. This conclusion weakens if: The next two comparable reports reverse the current p/e signal. Evidence: No comparable leader | Not enough peers | Not enough history | 0/2 companies · 0 observations Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing. ### PEG — lowest PEG ### P/E — lowest P/E 1. Bharti Airtel Ltd Partly Paidup (AIRTELPP): 35.9 ### 10-quarter PEG history ### 10-quarter P/E history ## What can make this comparison misleading? - A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason. - A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment. - The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed. - An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion. - 1 company draws at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; it is marked unverified wherever that figure appears. - Thin comparisons: Revenue, Operating margin, Net profit, Return on capital, Valuation have fewer than three usable current readings. ## Every company - STL Networks Ltd (STLNETWORK) — market value ₹1.3K Cr; latest fundamentals Jun 2026; includes UNVERIFIED second-feed figures - Bharti Airtel Ltd Partly Paidup (AIRTELPP) — market value —; latest fundamentals unavailable ## Source standing of each company Cross-checked: 0. Unverified: 2. Withheld: 0. Graded companies: 2. 1 of 2 companies draws at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear. - UNVERIFIED | STLNETWORK | STL Networks Ltd | too little overlapping reported history to cross-check the second feed ## Methodology and freshness Fundamentals through Jun 2026; prices through 2026-08-14. Up to 10 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable. ## Frequently asked questions ### Is the Telecommunications - Service Provider sector outperforming NIFTY 500? Telecommunications - Service Provider has outperformed NIFTY 500 by 28.9% over 52 weeks and 7% over 13 weeks. 1 of 1 covered companies beat NIFTY on Mansfield relative strength, while 1 of 1 beat the sector itself. ### Which Telecommunications - Service Provider company is largest by revenue? STL Networks Ltd leads with revenue of ₹945 crore, based on 1 of 2 comparable companies through Jun 2026. ### Which Telecommunications - Service Provider company is growing fastest? STL Networks Ltd has the fastest current revenue growth at -7%, across 1 of 2 comparable companies. ### Which Telecommunications - Service Provider company has the strongest 4-Factor Sector Score? Bharti Airtel Ltd Partly Paidup ranks first at 56.8/100 with 18.8% evidence confidence. The score prioritizes research; it is not a buy recommendation. ### How much history does this Telecommunications - Service Provider comparison include? The page compares up to 10 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated. ### How is the 4-Factor Sector Score calculated? The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral. ### Is there a Nifty Telecommunications - Service Provider index? NSE India maintains Nifty indices for several broad sector categories — Nifty Bank, Nifty IT, Nifty Pharma and others — but not for every sub-sector grouping on this site. Whether or not an official Nifty index covers Telecommunications - Service Provider, this page builds its own equal-weight basket of 2 listed Telecommunications - Service Provider companies — one company, one vote, regardless of market value — so no single large company dominates the reading. Figures are as of Jun 2026. ### Which are the best Telecommunications - Service Provider stocks in India? Ranked by this page's four-factor score, Bharti Airtel Ltd Partly Paidup places first among 2 listed Telecommunications - Service Provider companies, followed by STL Networks Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser. ### How many Telecommunications - Service Provider stocks are listed in India? This comparison covers 2 listed Telecommunications - Service Provider companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026. ### Which Telecommunications - Service Provider company is the biggest? STL Networks Ltd is the largest, with trailing-twelve-month revenue of ₹945 crore. That covers 1 of 2 companies with comparable reporting through Jun 2026. ### Which Telecommunications - Service Provider company has the best profit margins? STL Networks Ltd has the highest operating margin at 4.7%, from 1 of 2 comparable companies. STL Networks Ltd shows the biggest recent improvement, at +2.5 percentage points. A high margin matters most when it is holding or rising, not when it is peaking. ### Which Telecommunications - Service Provider company makes the most profit? STL Networks Ltd earns the most, at ₹99 crore of trailing-twelve-month net profit, from 1 of 2 comparable companies. ### Which Telecommunications - Service Provider company earns the highest return on capital? STL Networks Ltd leads on return on capital employed at 0.6%, across 1 of 2 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year. ### Is the Telecommunications - Service Provider sector beating the market? Telecommunications - Service Provider has outperformed NIFTY 500 by 28.9% over the last 52 weeks and 7% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 1 of 1 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it. ### Which Telecommunications - Service Provider stock has the strongest price momentum? Bharti Airtel Ltd Partly Paidup has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all. ### How many Telecommunications - Service Provider companies does this comparison cover, and over what period? It compares 2 listed companies over up to 10 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data. ### What is the total market cap of the Telecommunications - Service Provider sector? The 2 Telecommunications - Service Provider companies on this page carry ₹1,258 crore of combined market value. STL Networks Ltd is the largest at ₹1,258 crore, about 100% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-16. ### How is the Telecommunications - Service Provider sector performing? 1 of the 1 covered Telecommunications - Service Provider companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 28.9% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-16. ### Why are some values on this page blank? A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad. ### Is this investment advice? No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.