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Suyog Telematics Ltd

| Quarterly Financial Results Q3 FY 2025-26

NEUTRAL SENTIMENT

Report Source

⬤3rd Feb 26

Summary : Suyog Telematics Limited approved Q3 FY26 results, plans significant business expansion, and acquired a subsidiary.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Standalone Q3 FY26 Total Expenses: 3,456.34 Lakhs (Material: 390.30, Employee: 789.28, Finance: 505.65, Depreciation: 1,444.84, Other: 326.26).
  2. Consolidated Q3 FY26 Total Expenses: 3,773.23 Lakhs (Material: 390.30, Employee: 800.95, Finance: 581.53, Depreciation: 1,559.25, Other: 441.19).
  3. Trade Receivables balances are subject to confirmation and reconciliation.
  4. Standalone Q3 FY26 Total Revenue: 5,393.85 Lakhs (Operations: 5,258.99 Lakhs, Other Income: 134.86 Lakhs).
  5. Consolidated Q3 FY26 Total Revenue: 5,723.80 Lakhs (Operations: 5,585.11 Lakhs, Other Income: 138.69 Lakhs).
  6. Potential increase in gratuity liability due to new Labour Codes.
  7. Paid up equity share capital (Standalone/Consolidated Dec 31, 2025): 1,171.71 Lakhs.
  8. Other Equity (Standalone/Consolidated Mar 31, 2025): 38,924.92 Lakhs.
  9. Allotment of 10,55,000 warrants to Promoters, converted to equity shares.
  10. Reclassification request from Mr. Somnath Gurushantappa Lature (Promoter Group) for 44,044 equity shares to Public category.
  11. Both standalone and consolidated unaudited financial results are presented.
  12. Consolidated results for Q3 FY26 include Lotus Tele Infra Private Limited (95% stake), acquired March 31, 2025.
  13. Comparative figures for Q3 FY25 are standalone and not directly comparable to current period's consolidated figures.

Corporate Overview

  1. Proposed to carry on business in India or abroad.
  2. Reconciliation and adjustment of Trade Receivables, Trade Payables, and Advance to Suppliers.
  3. Reconciliation and adjustment of statutory compliance (TDS, GST, ESIC).
  4. Assessing financial implications of new Labour Codes on employee benefits, specifically gratuity liability.
  5. Operates in a single operating segment.
  6. Proposed amendment to MOA for broad civil contracting and infrastructure development activities (highways, railways, buildings, power plants, water treatment, BOT/BOLT/BOOT schemes, residential/commercial development, hotels, hospitals, etc.).
  7. Formal and compliant with regulatory disclosure requirements.
  8. Operates in a single operating segment.
  9. Proposed amendment to Memorandum of Association to include extensive civil contracting and infrastructure development as new business activities.
  10. Acquisition of 95% stake in Lotus Tele Infra Private Limited.

Risk Factors

  1. Trade receivables/payables subject to reconciliation.
  2. Statutory compliance adjustments (GST, TDS, ESIC).
  3. New Labour Codes impact gratuity liability.
  4. Fair valuation pending for acquired subsidiary.

Key Drivers

  1. Broad expansion into civil infrastructure projects.
  2. Acquisition of Lotus Tele Infra Private Limited.
  3. Promoter warrants converted to equity shares.
  4. Approval of positive unaudited financial results.

Auditor’s Report

  1. Limited Review Report; no audit opinion expressed.
  2. Statutory Compliance (GST, TDS, ESIC) subject to reconciliation and adjustment.
  3. Balances in Trade Receivables and Trade Payables subject to confirmation/reconciliation.

Board Commentary

  1. Balances in Trade Receivables, Trade Payables, Advance to Suppliers are subject to confirmation, reconciliation and adjustment.
  2. Statutory Compliance with respect to TDS, GST, and other statutory dues are subject to reconciliation and subsequent adjustment.
  3. Financial implications of new Labour Codes on gratuity liability.
  4. Government of India notified new Labour Codes (Wages, Industrial Relations, Social Security, Occupational Safety, Health and Working Conditions Codes) impacting employee benefits and gratuity liability.
  5. Allotment of 10,55,000 warrants to Promoters, fully converted into equity shares as of December 31, 2025.
  6. Proposed amendment to the object clause of the Company's Memorandum of Association to include new business activities.

Management Discussion & Analysis

Future Strategy

  1. Amend object clause of MOA to expand into diverse civil contracting and infrastructure development projects.
  2. Enhance clarity and flexibility for future business activities.

Operational Focus Areas

  1. Monitor developments pertaining to new Labour Codes and evaluate impact on employee benefits liability.
  2. Reconcile and adjust balances for Trade Receivables, Trade Payables, and Advance to Suppliers.
  3. Reconcile and adjust statutory compliance for TDS, GST, and other dues.

Risk Control Measures

  1. Management does not expect material adjustment from reconciliations.
  2. Company continues to monitor Labour Codes developments.

Critical Risks

  1. Balances in Trade Receivables, Trade Payables, Advance to Suppliers are subject to confirmation, reconciliation and adjustment.
  2. Statutory Compliance with respect to TDS, GST, and other statutory dues are subject to reconciliation and subsequent adjustment.
  3. Financial implications of new Labour Codes on gratuity liability.
Suyog Telematics Ltd (SUYOG) Quarterly Report Analysis & Insights | Dhanarthi