Punjab Communications Limited (500346) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Punjab Communications Limited ₹35.84, price ₹55.70, upside -35.7%, quality 47 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range ₹26.35 – ₹73.18 · fair‑value band ₹25.60 – ₹49.73 · the ₹55.70 price screens above the ₹35.84 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Punjab Communications Limited manufactures and sells telecommunication and IT equipment, and solutions in India.
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Punjab Communications Limited manufactures and sells telecommunication and IT equipment, and solutions in India. It offers transmission products, such as add/drop multiplexers for managed voice and data services; power line carrier communication equipment for the transmission and reception of speech, fax, RTU data, and tele-protection signals over high voltage overhead transmission lines of electric utilities; line matching units for safety and protection of the powerline carrier equipment; and SDH range of products. The company also provides switch mode rectifier modules for telecom and datacom industrial applications. In addition, it offers IT and technology services comprising design, development, implementation, maintenance, and support services in the areas of IT consultancy, ERP and business solutions, and network management; and consultancy services covering various technology domains, including hardware, software, networking, Internet, telecom, etc. for the online computerization of various functions. Further, the company provides repair and maintenance services; and contract manufacturing services in the field of information technology and telecommunication, as well as undertakes turnkey projects, including installation, commissioning, and maintenance of telecommunications equipment. It serves telecom users, corporates, service providers, railways, power sector, government, and security agencies. The company was founded in 1981 and is headquartered in Chandigarh, India. Punjab Communications Limited is a subsidiary of Punjab Information & Communication Technology Corporation Limited.
Stock analysis
Punjab Communications Limited (500346) currently trades at ₹55.70, while our model-based Fair Value estimate is ₹35.84, 35.7% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹49.78 per share, and 2 of the 10 models we run sit above the ₹55.70 price.
Bear case: the Asset-Based group reads lowest at ₹16.97, and 8 of the 10 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹25.60 (bear) to ₹49.73 (bull), the price of ₹55.70 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 47/100 (below-average quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Punjab Communications Limited reported revenue of ₹268M in FY2026 versus ₹108M in FY2022, a compound +25.7%/yr. Reported net income was ₹29.8M in FY2026.
Key figures
Market cap ₹324M (≈ $3.4M) · P/S ratio 1.44 · EPS (TTM) ₹−9.51 · Net margin 11.1% · Return on assets (EBIT) −13.3% · Operating margin −95.8% · Revenue (TTM) ₹224M · Revenue growth (YoY) −64.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 22% below its 52-week high and 34% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −62% fair-value upside, at −36%, 500346 screens cheaper than that median.
Fair Value models
Bear ₹25.60Fair Value ₹35.84Bull ₹49.73
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+56.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+36.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.5%
Start year 2021 (pandemic). Over 10 years: +2.9% a year
Revenue growth 12 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.7%
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What shareholders gained per year (last 3 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−33.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−33.6%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−99% → −28%
⚠ Revenue per share shrinking 11.0%/yr over ~7Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Compare Punjab Communications Limited with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Communication Equipment · 295 stocks
Beats the industry median on 2/8 measures
Overall it trails its industry peers.
Valuation
Quality Score47 · Below median
Fair Value upside−24.5% · Above median
Profitability
Return on assets0.0% · Below median
Net margin (TTM)−55.8% · Bottom 25%
Operating margin (TTM)−95.8% · Bottom 25%
Growth and dividend
Revenue growth−64.3% · Bottom 25%
Dividend yield (TTM)0.0% · Bottom 25%
Valuation Multiplesvs Communication Equipment median · lower = cheaper
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Is Punjab Communications Limited (500346) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ₹35.84 versus a price of ₹55.70, about −36% upside (overvalued).
What is the fair value of 500346?
Our model-based fair value for Punjab Communications Limited is ₹35.84 (as of Sep 24, 2026), built from audited fundamentals. The current price: ₹55.70.
What is the quality score of 500346?
Punjab Communications Limited has a Quality Score of 47/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Punjab Communications Limited (500346)?
Our model-based price target is the fair value of ₹35.84 (as of Sep 24, 2026) from 10 valuation models. Cautious scenario ₹25.60, optimistic scenario ₹49.73. It is a calculation from audited fundamentals, not an analyst target.
What is the Punjab Communications Limited stock forecast for 2026?
Our models put fair value at ₹35.84, about −36% upside versus a price of ₹55.70 (overvalued). Cautious scenario ₹25.60, optimistic scenario ₹49.73. The calculation is refreshed regularly with new filings.
What is the revenue of Punjab Communications Limited (500346)?
Punjab Communications Limited reported trailing-twelve-month revenue of about ₹224M (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Punjab Communications Limited (500346)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Punjab Communications Limited it is ₹35.84 per share (as of Sep 24, 2026), against a price of ₹55.70. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Punjab Communications Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 500346 trades above its calculated fair value: price ₹55.70, fair value ₹35.84, a gap of about −36% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 500346?
No. The price is what the market pays today (₹55.70); the fair value is what the company's own numbers justify (₹35.84). For Punjab Communications Limited the two are ₹19.86 per share apart. That gap is exactly why we show both numbers side by side.
How much is Punjab Communications Limited worth?
The market values Punjab Communications Limited at about ₹324M (market capitalisation, as of Sep 24, 2026). Per share that is ₹55.70; our models calculate a fair value of ₹35.84 per share.
What do the bullish and bearish scenarios say about 500346?
Our models span a range for Punjab Communications Limited: cautious scenario ₹25.60, base ₹35.84, optimistic ₹49.73 per share (as of Sep 24, 2026, price ₹55.70). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 500346 from its 52-week high?
Punjab Communications Limited trades at ₹55.70, about 22% below its 52-week high of ₹71.20 and 34% above the low of ₹41.54 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹35.84 is for.
Which stocks are comparable to Punjab Communications Limited?
From the same area (Technology) we also value Cisco Systems, Inc, Foxconn Industrial Internet Co, Zhongji Innolight Co, Eoptolink Technology Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Punjab Communications Limited stock attractive at the current price?
The data as of Sep 24, 2026: price ₹55.70, calculated fair value ₹35.84 (−36%), Quality Score 47/100, from 10 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 500346 calculated?
We run Punjab Communications Limited through 10 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹35.84, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Punjab Communications Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Punjab Communications Limited (500346)?
The closing price on Oct 1, 2026 was ₹55.70. Our model-based fair value is ₹35.84, about −36% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Punjab Communications Limited right now?
The price sits above even our optimistic bull case (₹49.73). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (₹25.60 to ₹49.73) leaves room in how you read the outcome.
Key figures of Punjab Communications Limited
How large is the market capitalisation of Punjab Communications Limited (500346)?
The market capitalisation of Punjab Communications Limited is ₹324M (≈ $3.4M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Punjab Communications Limited (500346)?
The price-to-sales ratio of Punjab Communications Limited is 1.44 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Punjab Communications Limited (500346)?
Earnings per share at Punjab Communications Limited are ₹−9.51. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Punjab Communications Limited (500346)?
The net margin of Punjab Communications Limited is 11.1% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the EBIT return on assets of Punjab Communications Limited (500346)?
On an EBIT basis the return on assets of Punjab Communications Limited is −13.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Punjab Communications Limited (500346)?
The operating margin of Punjab Communications Limited is −95.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Punjab Communications Limited (500346)?
Revenue at Punjab Communications Limited is growing −64.3% versus a year earlier (3y avg +36.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Punjab Communications Limited (500346) generate?
The free cash flow of Punjab Communications Limited is −₹71.8M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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