Quadrant Televentures Limited

Communication Services — Telecom Services · BSE

₹0.75−₹0.01 (−1.32%)

DalalBaazaar Score

16 / 100

🔴 Poor

Verdict

HIGH RISK

Risk

Very High

Driven by negative shareholders' equity — the company owes more than it owns, short-term liabilities exceed short-term assets, the company is currently loss-making.

In simple words: The company owes more than it owns — years of losses have wiped out its net worth, but sales are shrinking. Solvency — whether it can keep funding itself at all — is the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:00 pm

Understanding the Business

Company site ↗

The 60-second version of Quadrant Televentures Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Quadrant Televentures Limited provides telecommunication services in North India. The company offers voice telephony, internet, and broadband data services. It also provides value-added services, including Centrex, leased lines, VPNs, voicemail, etc.

IndustryTelecom Services

SectorCommunication Services

Employees1,040

Annual revenue₹210 Cr

How does it make money?

Turns over ₹210 Cr a year. Of every ₹100 of sales, about ₹-11 reaches shareholders as profit, with ₹15 left at the operating level before interest, tax and depreciation. Each of its 1,040 employees supports ₹20.1 lakh of revenue a year, the signature of a people-led business.

Revenue / employee₹20.1 lakh

Who are its competitors?

The closest listed comparisons in its industry are BHARTI AIRTEL LIMITED, VODAFONE IDEA LIMITED. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What has been driving growth?

Sales and margins have both contributed to where profit is now. Over 3 years revenue moved -47% while net margin moved -58% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.

Revenue effect-47%

Margin effect-58%

DalalBaazaar Score

16/ 100

Poor

Weighted across six categories. Every point is explained below.

✗ Shareholders' equity is negative — accumulated losses exceed the capital in the business

Quality vs. Valuation

Company Quality

15/ 100

Weak

How good the business is, ignoring the share price entirely.

Valuation

30/ 100

Expensive

What you are being asked to pay, ignoring how good the business is.

Weak on business quality and not cheap enough to compensate.

vs. its own history

Not enough price and earnings history

vs. sector peers

Not enough peers with a usable P/E

vs. generic bands

N/A

Multiples unreliable — equity base is negative

EV/EBITDA

69.5x

PEG

—

What's Good / What's Bad

🟢 What's Going Well2

Margins are improving
EBITDA margin is up from 6.0% to 14.7% over 3 years.
Cash generation is improving
Free cash flow is up 76% over 3 years.

🔴 What Needs Attention0

Nothing stands out as clearly deteriorating on the years of data available.

Red Flags

5 items require attention · 4 high · 1 watch

🔴Negative shareholders' equityFinancial
Liabilities exceed assets — accumulated losses have wiped out the company's net worth.
🔴Thin interest coverageFinancial
Operating profit covers interest only 0.3x — little room if earnings dip.
🔴The company is lossmakingFinancial
Net profit of -₹23 Cr in the latest reported year.
🔴Receivables growing faster than salesFinancial
Receivables up 348% against revenue up -47% — sales are being booked faster than they are collected.
🟡Short-term liquidity is tightFinancial
Current ratio of 0.03 — near-term obligations exceed near-term assets.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Margin expansion has further to run
EBITDA margin has risen from 6.0% to 14.7%. If that holds, profit compounds faster than sales and today's multiple looks cheaper in hindsight than it does now.

🔴 Bear CaseWhat could go wrong?

Solvency comes before everything else
Liabilities exceed assets. Until net worth is rebuilt, the equity is a claim on a business that owes more than it owns, and further losses or a funding squeeze can leave shareholders with nothing.
The debt load needs earnings to hold up
Debt is 68.3x EBITDA. At that level a downturn in earnings turns a manageable balance sheet into a refinancing problem, and lenders get paid before shareholders.
Sales are being booked faster than collected
Receivables are up 348% against revenue up -47%. If customers keep taking longer to pay, reported profit will not turn into cash — and write-offs follow if some never do.
Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1EBITDA margin holds above 13%✓ 14.7%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Debt / EBITDA falls below 3x✗ 68.3x
Already stretched, so this is a reduction target rather than a level to hold. Around 3x is where lenders typically start attaching conditions.
3Interest cover stays above 3x✗ 0.3x
How much operating profit can fall before interest stops being comfortably covered.
4Free cash flow remains positive✓ ₹40 Cr
Profit that never becomes cash eventually stops being profit.

Investment Checklist

5 / 9 checks passed

✗ Shareholders' equity is positive (assets exceed liabilities)
✗ Healthy net margin (≥ 10%)
✓ Generates positive free cash flow
✗ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✗ Revenue growing year-over-year
✓ Profit growing year-over-year
✓ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✓ Short-term technical trend isn't bearish

Price history

Quick Metrics

2 good · 4 neutral · 5 weak

Market Cap

₹46 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

Not meaningful

Loss-making

Earnings are negative, so a P/E multiple can't be read here

P/B Ratio

Not available

No data

Source didn't return this field

EPS (TTM)

₹-0.1

Loss-making

Negative earnings per share — the business is losing money

ROE

Not meaningful

Negative equity

Return on equity can't be read when equity itself is negative

ROCE

Not available

No data

Source didn't return this field

Debt/Equity

Not meaningful

Negative equity

Shareholders' equity is negative, so this ratio can't be read

Revenue Growth (YoY)

-7.4%

Shrinking

Sales are contracting

Profit Growth (YoY)

91.6%

Healthy

Profits growing at a healthy clip

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

₹40 Cr

Cash generative

Generates cash even after funding its capex

More Metrics

Operating Margin

7.2%

Average

Average margins

Net Margin

-3.0%

Weak

Very little revenue reaches the bottom line

Current Ratio

0.03

Tight

Tight short-term liquidity

Beta (vs Nifty)

-0.49

Defensive

Steadier than the market

52W Range Position

76%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

0.8 / 0.7

Bullish alignment (short > long)

Price vs SMA 200

Above

Long-term uptrend

RSI (14)

0.0

Oversold zone

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹396 Cr	₹269 Cr	₹236 Cr	₹210 Cr	-19.1%
EBITDA	₹24 Cr	₹23 Cr	₹20 Cr	₹31 Cr	+8.6%
EBITDA Margin	6.0%	8.4%	8.4%	14.7%	—
PAT (Net Profit)	-₹105 Cr	-₹132 Cr	-₹276 Cr	-₹23 Cr	—
EPS	₹-1.72	₹-2.15	₹-4.51	₹-0.38	—
Total Debt	₹1,690 Cr	₹2,001 Cr	₹2,095 Cr	₹2,097 Cr	+7.5%
Free Cash Flow	₹23 Cr	₹25 Cr	₹17 Cr	₹40 Cr	+20.7%

🔴 Revenue has shrunk at 19.1% a year over 3 years.

🟢 EBITDA has grown at 8.6% a year over 3 years.

🟢 EBITDA Margin has risen from 6.0% to 14.7% over 3 years (+8.6 pts).

🔴 Total Debt has grown at 7.5% a year over 3 years.

🟢 Free Cash Flow has grown at 20.7% a year over 3 years.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹156 Cr

Total Liabilities

₹3,025 Cr

Cash & Equivalents

₹8 Cr

Operating Cash Flow

₹51 Cr

Capex

-₹11 Cr

Shareholding (proxy)

Institutional Holding

1.4%

Insider Holding

27.4%

Corporate Actions

Ex-Dividend Date

23 Oct 2002

Peer Comparison

Company	P/E	ROE
BHARTI AIRTEL LIMITED	39.8x	20.2%
VODAFONE IDEA LIMITED	3.6x	—

Recent News

6 general

Quadrant Televentures Ltd. Upper Circuit Streak: Day 2 Price and Data

Univest, 23 Sept

Quadrant Televentures Limited Discloses ₹159.85 Crore Default on Preference Shares

scanx.trade, 01 Apr

Quadrant Televentures - 9 penny stocks surge up to 325% in 2026 so far; 3 turn multibaggers. Did you own any?

The Economic Times, 16 Aug

Quadrant Televentures Ltd

Equitypandit, 06 Aug

QUADRANT TELEVENTURES LIMITED Share Price

Upstox, 25 Mar

NCLT Confirms New Resolution Professional for Quadrant Televentures Limited

scanx.trade, 23 Jan

Watch Items

Revenue growth is negative (-7.4%) on the latest reported period — check if this is one-off or a trend.
Cross-check against the company's latest quarterly filing / investor presentation before acting.
2 metrics couldn't be retrieved for this stock — this is more common for smaller or thinly-covered listings.
RSI is in oversold territory — could mean either a bargain or a stock still falling for good reason. Check the 'why' before assuming reversal.

DalalBaazaar Thesis

WeakBusiness Quality · Financial Health · Growth · Profitability · Valuation · Risk

Points for each in the Score ↑

Avoid until solvency is resolved

Quadrant Televentures Limited owes more than it owns. Whatever the operating numbers show, the equity is a residual claim on a business with negative net worth, and that question has to be settled before any of the rest is worth weighing. 4 high-severity red flags sit above this conclusion and should be read first.

2 of 4 tripwires tripped — Debt / EBITDA falls below 3x; Interest cover stays above 3x · see Key things to watch ↑