Suyog Telematics has scheduled its 31st Annual General Meeting (AGM) for Tuesday, September 22, 2026. The meeting will commence at 11:30 am and will be conducted through Video Conferencing or Other Audio-Visual Means (OAVM), in compliance with SEBI Listing Regulations and Ministry of Corporate Affairs circulars.

Meeting Details

The company published newspaper advertisements in Financial Express (English) and Pratahkal (Marathi) on August 28, 2026, to notify stakeholders of the upcoming gathering. The AGM notice and the annual report for the fiscal year ending March 31, 2026, are available on the company’s website and the exchanges’ portals.

Voting Procedures

Shareholders can participate in remote e-voting using credentials from their Depository Participants or NSDL/CDSL accounts. For those holding physical shares or without registered email IDs, the company has outlined specific procedures to obtain user IDs and passwords via email to the investor relations team or the Registrar and Transfer Agent.

The record date for determining dividend eligibility is set for September 11, 2026. Shareholders are advised to update their bank details with their depositories to ensure electronic dividend payments.

Suyog Telematics Limited reported a decline in profitability for the quarter ended June 30, 2026, with standalone net profit after tax falling to ₹1,393.15 lakh from ₹1,701.27 lakh in the corresponding quarter of the previous year. Consolidated net profit after tax also declined to ₹1,449.69 lakh from ₹1,732.13 lakh in Q1FY26. The results were approved by the Board of Directors at its meeting held on August 11, 2026, and filed with stock exchanges under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Standalone financial performance

On a standalone basis, total income from operations (including other income) rose to ₹6,742.30 lakh in Q1FY27 from ₹6,569.97 lakh in Q1FY26, while it was ₹6,601.40 lakh in Q4FY26. Net profit before tax stood at ₹1,875.07 lakh, compared to ₹2,132.25 lakh in Q1FY26 and ₹1,964.23 lakh in Q4FY26. Total comprehensive income for the quarter was ₹1,373.18 lakh against ₹1,701.35 lakh in Q1FY26.

Equity share capital remained unchanged at ₹1,171.71 lakh. Reserves as shown in the balance sheet stood at ₹47,710.73 lakh as of March 31, 2026.

Consolidated financial performance

On a consolidated basis, total income from operations (including other income) increased to ₹7,315.88 lakh in Q1FY27 from ₹6,867.25 lakh in Q1FY26 and ₹6,961.57 lakh in Q4FY26. Net profit before tax was ₹1,950.62 lakh, compared to ₹2,173.50 lakh in Q1FY26. Total comprehensive income on a consolidated basis came in at ₹1,429.72 lakh against ₹1,732.22 lakh in Q1FY26.

Consolidated equity share capital stood at ₹1,171.71 lakh, unchanged from the prior periods. Consolidated reserves as per the balance sheet were ₹47,786.04 lakh as on March 31, 2026.

Operational updates and growth strategy

During the post-earnings conference call held on August 12, 2026, management highlighted significant operational developments. Suyog Telematics reported receiving orders from Vodafone Idea starting mid-June 2026. In the span of 13 to 15 days in June, the company converted 95 towers, equivalent to 150 tenancies. As of the end of Q1FY27, the company operated 6,103 towers with 7,468 tenancies.

Management stated it is targeting an additional 3,000 tenancies from Vodafone Idea in the current financial year, based on the operator’s secured funding of ₹6,400 crore from SBI and its planned rollout of approximately 12,000 sites by September-October 2026. Vodafone Idea has declared a broader plan to roll out close to 45,000 sites over the next 18-24 months. Suyog aims to increase Vodafone Idea’s revenue share from the current 27% to around 32% once these targets are met.

Regarding BSNL, management expressed caution due to pending billing issues and delays related to Tejas equipment. While BSNL has announced a ₹77,000 crore CapEx plan for 2 lakh sites over five years, Suyog will commence rollouts only after confirmed billing dates are provided. Currently, billing for 186 BSNL sites remains pending.

Technology and cost management

To address rising lithium battery costs, which increased by approximately 50% to ₹48,000 per 100H unit due to import dependencies and subsidy removals in China, Suyog Telematics is fast-tracking the deployment of zinc batteries. The company has tied up with GBB Batteries for supply and plans to launch zinc batteries on sites by mid-September 2026. Zinc batteries are priced at approximately ₹33,000 per 100H, similar to previous lithium prices, offering significant CapEx savings. Management noted that zinc batteries are fire-resistant and offer comparable efficiency to lithium units.

Accounting policy change

Effective April 1, 2026, Suyog Telematics changed its accounting policy to include electricity reimbursement in the top line, as required by GST guidelines. This change impacted reported margins. Consolidated EBITDA margin stands at 59.3%, down from the previously reported ~70% margin when electricity was not included in revenue. Revenue per tower, excluding electricity, remains stable at above ₹31,000.

What the Numbers Show

The inclusion of electricity reimbursement in the top line has structurally altered Suyog’s revenue composition, increasing total income while compressing headline EBITDA margins. Despite the lower margin percentage, the absolute EBITDA value remained robust at ₹420 million in Q1FY27, indicating that the core operational profitability has been maintained even as the accounting base expanded. The shift in customer mix towards Vodafone Idea, which now contributes 27% of revenue, positions the company to leverage the operator’s aggressive rollout plans, potentially driving volume growth without proportional increases in fixed costs if tenancy ratios improve.

Regulatory and disclosure details

The unaudited financial results for the quarter ended June 30, 2026 were approved by the Audit Committee and subsequently by the Board of Directors at the meeting held on August 11, 2026. The full format of the results is available on the company's website at www.suyogtelematics.co.in and on the websites of BSE Limited and National Stock Exchange of India Limited. The results were published as a newspaper advertisement on August 13, 2026 in The Financial Express (English) and Pratahkal (Marathi), pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transcript of the post-earnings conference call was filed with exchanges on August 18, 2026, pursuant to Regulation 30 read with Schedule III of the SEBI Listing Regulations.