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Steelman Telecom Ltd (STML) Fair Value & Analysis

Other · IN · Market cap ₹629M

ST Steelman Telecom Ltd STML · BSE
Price₹62.00
Fair Value₹7.43
Upside-88.0%
Quality50/100
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Strengths

Moderate debt · generates free cash flow

Risks

!Trades 88% ABOVE our fair value of ₹7.43
!Mixed Growth
!Loss-making · -2.7% net margin
!Trails peers (3/10)
Mixed Growth
Loss-making · -2.7% net margin
Moderate debt · generates free cash flow
Trails peers (3/10)
Narrow moat 15/100
Evidence: Medium Range ₹7.43 – ₹29.43 Share as image

Fair value as of: Aug 13, 2026

From 11 valuation models · updated 7 days ago

A solid business, but screening 88% overvalued on our models.

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What matters now

  • The price sits above even our optimistic bull case (₹29.43). The favourable scenario is already priced in.
  • The model range is unusually wide (₹7.43 to ₹29.43). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (4 years)

₹260.05 ₹50.00 Fair Value ₹7.43 Oct 2022 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

46‑month range ₹50.00 – ₹260.05 · fair‑value band ₹7.43 – ₹29.43 · the ₹62.00 price screens above the ₹7.43 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Steelman Telecom Ltd (STML) currently trades at ₹62.00, while our model-based Fair Value estimate is ₹7.43, implying the stock looks roughly 88.0% overvalued today. The Quality Score stands at 50/100 (solid quality), in the Other sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Steelman Telecom Ltd generated revenue of ₹2.3B at a net margin of -2.7%. Revenue declined 12.3% year over year. It earns a return on equity of -51.1%. Net debt stands at ₹780M. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹7.43 (bear case) to ₹29.43 (bull case); at ₹62.00, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 56% below its 52-week high and 27% above its 52-week low, currently below its 200-day average. For context, the median of 10 Other peers we cover trades at -24% fair-value upside, at -88%, STML screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

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. Evidence
Highest evidence
Growth DCF ₹91.62 ₹171.25 ₹289.81 80
Rev-Margin DCF ₹79.75 ₹159.61 ₹266.62 74
EV/EBITDA ₹36.86 ₹58.86 ₹80.86 54
All 11 models by family
DCF Models
FCF DCF ₹94.57 ₹188.03 ₹338.01 38
Owner Earnings ₹80.76 ₹163.79 ₹297.04 31
5Y Revenue Exit ₹79.75 ₹161.74 ₹274.35 39
5Y EBITDA Exit ₹54.38 ₹107.68 ₹173.81 41
10Y Revenue Exit ₹80.63 ₹157.26 ₹277.58 36
10Y EBITDA Exit ₹68.08 ₹120.37 ₹198.17 37
Multiples
EV/EBITDA ₹36.86 ₹58.86 ₹80.86 54
EV/Revenue ₹72.64 ₹116.26 ₹159.89 43
Asset-Based
NCAV (Graham) ₹14.80 ₹19.83 ₹29.60 50
Growth DCF
Growth DCF ₹91.62 ₹171.25 ₹289.81 80
Rev-Margin DCF ₹79.75 ₹159.61 ₹266.62 74

Widest divergence: Growth DCF (₹159.61) versus Asset-Based (₹19.83). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹2.3B
Revenue growth (YoY) -12.3%
Net margin -2.7%
Return on equity -51.1%
Free cash flow ₹108M FY2026
Operating margin 1.5%
More key figures
EPS (TTM) ₹-6.47
EPS growth (YoY) -66.5%
Net debt ₹780M FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 49 · Market factors (momentum, volatility) 26

Profitability 41
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 44
Earnings quality: real cash, not paper profit
Fin. Strength 17
Balance sheet, leverage, solvency risk
Investment 85
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 7
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Steelman Telecom Limited provides support services and solutions for the network requirements of telecom industry in India. It offers network survey and planning, installation and commissioning, network testing and optimization, network solutions, and managed services for network maintenance.

Full company description

Steelman Telecom Limited provides support services and solutions for the network requirements of telecom industry in India. It offers network survey and planning, installation and commissioning, network testing and optimization, network solutions, and managed services for network maintenance. The company also provides telecom implementation services, including installation, commissioning, and integration of telecom equipment with switches and routers, as well as installation of microwave antennas, global system for mobiles, and communications antennas with base transceiver station and other network related equipment. In addition, it offers radio frequency services, such as pre and post site launch key performance index, single cell function test, and single site cluster verification test; drive test analysis; voice over long-term evolution performance analysis; dropped call analysis; interreference analysis; traffic and throughput analysis; and worst cell analysis services. Further, the company provides engineering procurement construction management services; managed services, including day-to-day operation, upkeep, and upgradation of network equipment; manpower outsourcing and payrolling services; and new generation technology services, such as big data and data science services, data science solutions, 5G networks integration services, security solutions for cloud and 5G networks, and Internet of Things services. It serves tower owners, telecom operators, broadband service providers, and equipment manufacturers. The company was incorporated in 2003 and is headquartered in Kolkata, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Steelman Telecom Ltd reported revenue of ₹2.3B in FY2026 versus ₹1.0B in FY2022, a compound +23.0%/yr. Reported net income was −₹62.6M in FY2026.

Growth Quality 56/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹2.3B
Latest YoY
−0.3%
Avg. growth/yr (3Y) 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.
+19.5%
Avg. growth/yr (5Y) 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.
+21.0%
Revenue +23.0%/yr
FY22 ₹1.0B
FY23 ₹1.3B
FY24 ₹2.2B
FY25 ₹2.3B
FY26 ₹2.3B
Net income
FY22 ₹26.9M
FY23 ₹8.3M
FY24 −₹31.8M
FY25 −₹14.2M
FY26 −₹62.6M

STML screens 88% overvalued. Compare with Federal Home Loan Mortgage Corporation →

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Cite: Fair Value Calculator (2026). "Steelman Telecom Ltd Fair Value". https://www.fairvalue-calculator.com/stock/STML

Peer Group

Other · 384 stocks

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.

Quality Score 50 · Below median
Fair Value upside −88% · Bottom 25%
Return on assets -2% · Bottom 25%
Net margin (TTM) -3% · Bottom 25%
Operating margin (TTM) 1% · Above median
Revenue growth -12% · Bottom 25%
Debt / equity 1.01× · Higher than 75% of peers

Valuation Multiples vs Other median · lower = cheaper

P/FCF 0.1× · Cheaper than median
EV/EBITDA 2.0× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 10
FUTURE0 · sector 0
PAST0 · sector 0
HEALTH50 · sector 98
DIVIDEND0 · sector 27

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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10 more Other stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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540376 540376 ₹4,054 ₹1,542 -62%
540777 540777 ₹537.50 ₹149.72 -72%
Lupin Limited 500257 ₹2,265 ₹1,983 -12%
Dabur India Limited 500096 ₹413.80 ₹122.93 -70%
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Frequently asked questions

Is Steelman Telecom Ltd (STML) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹7.43 versus a price of ₹62.00, about −88% (overvalued).
What is the fair value of STML?
Our model-based fair value for Steelman Telecom Ltd is ₹7.43 (as of Aug 13, 2026), built from audited fundamentals. The current price: ₹62.00.
What is the quality score of STML?
Steelman Telecom Ltd has a Quality Score of 50/100. 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 revenue of Steelman Telecom Ltd (STML)?
Steelman Telecom Ltd reported trailing-twelve-month revenue of about ₹2.3B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of STML?
The net profit margin of Steelman Telecom Ltd is about -2.7%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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