GTL Infrastructure Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

GTL Infrastructure Ltd trades at ₹1.2, in a downtrend and 4 weeks into that stage. That is −10.8% against its own 200-day average. It sits at 27% of a 52-week range of ₹1 to ₹2. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (11 weeks and counting).

Today the stock is in a downtrend — week 4 of stage 4, confirmed. At ₹1.2 it trades −10.8% versus its 200-day average and sits at 27% of its 52-week range (₹1–₹2).

Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved −47% while the NIFTY 500 moved +267% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (11 weeks and counting; last ahead the week of 2026-07-01) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

P/E does not price GTL Infrastructure Ltd — earnings are negative, so there is no multiple to rank against its own history. The revenue and margin lines below are where a turn, when it comes, would show first. On sales the market values GTL Infrastructure Ltd at 1.1× its FY26 revenue of ₹1,372 Cr.

With earnings negative, P/E does not price — there is no multiple to rank against its own history. The revenue and margin lines below are where the turn, when it comes, will show first.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.

Solved at its 13 June 2026 price, GTL Infrastructure Ltd was paying for profit growth of about −17.1% a year.

How to hold this number: it is a reading of one day's price, taken on 13 June 2026, not a running figure — every other number on this page, the multiple included, is read off the live quote as of 11 September 2026. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements.

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

GTL Infrastructure Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 8 quarters across 1 curve, on partial evidence.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

The return-on-capital curve is not shown — net worth is negative, so a return on capital is not a meaningful number in any basis. This is a distressed balance sheet, and the stage is read from the growth curves alone.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

4-Factor Sector Score

36.0/100 — rank 14 of 18 in Telecom Services · 66% evidence confidence

GTL Infrastructure Ltd scores 36.0 out of 100 against the 18 companies it is compared with in Telecom Services, ranking 14. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 13.2 + 5.4 + 11.5 + 5.9 = 36. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

GTL Infrastructure Ltd reported ₹327 Cr of revenue in the Jun 26 quarter, −2.4% year on year. Over 10 years it has compounded at 4.2% a year. The last full year, FY26, came in at ₹1,372 Cr. The last four reported quarters add to ₹1,364 Cr.

FY26 revenue came in at ₹1,372 Cr (+2.1% on the year), capping 10 years at 4.2% compound. The latest quarter (Jun 26) printed ₹327 Cr, −2.4% year on year.

Pace check: the last four quarters averaged +1.3% growth against the decade's 4.2% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +1.3% over the last 4 quarters against +0.4%/yr over the last 8 — stabilising.

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

GTL Infrastructure Ltd's operating margin is 44.0% in the Jun 26 quarter, +20.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 12.0% to 44.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 44.0%, +20.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 12.0%–44.0%.

Why the margin moved: operating margin went +19.8 pp year on year while gross margin went +0.0 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

GTL Infrastructure Ltd earned ₹69.0 Cr of net profit in the Jun 26 quarter. Full-year FY26 profit was ₹779 Cr. That is 21.1% of the quarter's revenue. The same quarter a year earlier lost ₹232 Cr. 9 of the last 12 reported quarters were loss-making.

Jun 26 profit was ₹69.0 Cr, null year on year. On the full year, FY26 printed ₹779 Cr (null).

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

GTL Infrastructure Ltd's cash-flow history is too thin to judge how much reported profit converts into cash. In FY26 that was ₹535 Cr of operating cash against ₹779 Cr of profit. After ₹60.0 Cr of capital spending, ₹475 Cr was left as free cash. Cash resolution here is annual, because quarterly cash statements are not published.

FY26: operating cash of ₹535 Cr against reported profit of ₹779 Cr, leaving free cash of ₹475 Cr after ₹60.0 Cr of capital spending.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

GTL Infrastructure Ltd's cash conversion cycle runs 11 days in FY26, down from 27 days in FY21. Capital spending ran ₹207 Cr over the last 3 years. At FY26 sales of ₹1,372 Cr each day of that cycle holds about ₹3.8 Cr, so roughly ₹41.0 Cr sits inside the business at any moment.

FY26: debtors at 11 days (an asset-light business — no inventory to speak of) — for a full cycle of 11 days, tighter than FY21's 27.

In money terms: at FY26 sales of ₹1,372 Cr, each day of the cycle holds about ₹3.8 Cr — so the 11-day loop keeps roughly ₹41.0 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹207 Cr over the last 3 fiscal years against ₹759 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified

GTL Infrastructure Ltd earns a ROCE of −12% in FY23. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 56.8% net margin on 0.44× asset turns.

FY23 ROCE is −12%.

Why the return is what it is — the wiring (FY26): 56.8% net margin × 0.44× asset turns × −0.60× balance-sheet leverage ≈ −15.0% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

GTL Infrastructure Ltd's net worth is negative — it owes more than it owns — so a debt-to-equity ratio is not meaningful here. On the annual view that ratio went from −1.77 in FY22 to −1.13 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Mar 26: total debt of ₹5,898 Cr against shareholder equity of ₹−5,215 Cr — a debt-to-equity of −1.13. On the annual view, debt-to-equity went from −1.77 (FY22) to −1.13 (FY26). The returns on this page are earned, not borrowed.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Domestic institutions cut 11.0 points of GTL Infrastructure Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 31.2% of the company. Foreign institutions moved +0.6 points over the same window, to 0.8%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Domestic institutions: −11.0 points over 8 quarters to 31.2%; Foreign institutions: +0.6 points over 8 quarters to 0.8%; Promoters: +0.0 points over 8 quarters to 3.3%. Note the structure: promoters hold under 20% — this is a widely-held company where institutions, not a family, set the direction.

🚨 Why the register moved: domestic institutions drove it (−11.0 points), absorbed on the other side by foreign institutions (+0.6 points) — distribution into the market’s bid.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

GTL Infrastructure Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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