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10 Yrs X-Ray 
Valuation 
Analyst Note 
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About
Kavveri Defence & Wireless Technologies Ltd (KAVDEFENCE)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 590041 NSE: KAVDEFENCE Telecommunication - Equipment | Small Cap | Kavveri Def. Wireles Share Price
₹80.93 -0.10 (-0.12%)
As on 11-Nov'26 16:59
Kavveri Defence & Wireless Technologies Ltd (KAVDEFENCE)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 590041 NSE: KAVDEFENCE Telecommunication - Equipment | Small Cap | Kavveri Def. Wireles Share Price
₹80.93 -0.10 (-0.12%)
As on 11-Nov'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹487 Cr.
Current Price
₹80.9
52-Week Low / High
₹51 / 113
TTM EPS
₹-0.2
TTM Sales
₹6 Cr.
Book Value per Share
₹18.4
P/E Ratio
0.00
Lower than its 3-year historical median
Industry PE
123.5
Price to Book (P/B)
4.41
Higher than its 5-year historical median
Price to Sales (P/S)
81.88
Higher than its 5-year historical median
EV/EBITDA
-614.60
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
1.50%
Outperforms industry median
Return on Capital Employed (ROCE)
1.14%
Outperforms industry median
Return on Assets (ROA)
0.99%
Outperforms industry median
Operating Profit Margin
10.6%
Outperforms industry median
Net Profit Margin
14.75%
Outperforms industry median
Gross Profit Margin
17%
Outperforms industry median
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
-
-
Operating Profit Growth (1 Year)
-
-176.8%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-80.66%
Asset Quality
Promoter Holding
24.56%
Pledged shares (%) of Promoter's holding (%)
5.08%
Reserves
₹50 Cr.
Equity
₹60.1 Cr.
Face Value
₹10
All Time Low / High
₹1.81 / 309.45
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Quality
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Valuation
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Price Trend
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Is Kavveri Defence & Wireless Technologies Ltd a good quality company?
Kavveri Defence & Wireless Technologies Ltd is a weak quality company, based on a inconsistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Kavveri Defence & Wireless Technologies Ltd performance compare with that of its Peers?
Revenue growth of Kavveri Defence & Wireless Technologies Ltd vs industry peers?
Kavveri Defence & Wireless Technologies Ltd revenue CAGR is 30.35%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Kavveri Defence & Wireless Technologies Ltd?
Promoters hold 24.56% of the Kavveri Defence & Wireless Technologies Ltd, with 5.08% of their stake pledged, indicating low pledge risk.
Stock return of Kavveri Defence & Wireless Technologies Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 18.9% based on the current price.
10 Year X-Ray : Login to view analysis.
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Kavveri Defence & Wireless Technologies Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | -3.4% | -3.2% | -8.3% | -3.4% | -1.3% | -1.4% | -0.5% | 22% | -1.5% | 7.2% | - |
| Value Creation Index ⓘ | -1.2 | -1.2 | -1.6 | -1.2 | -1.1 | -1.1 | -1.0 | 0.6 | -1.1 | -0.5 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 0.3 | 0.5 | 0.6 | 1.7 | 1.7 | 0.7 | 1.1 | 0.1 | 0 | 14.8 | 3 |
| Sales YoY Gr. | - | 80% | 42.2% | 170.3% | -4.6% | -55.8% | 54.8% | -90.3% | -100% | NA | - |
| Adj EPS ⓘ | -11 | -10.5 | -13.8 | 1.1 | -8.9 | -8.1 | -8.7 | 25.5 | -0.3 | 2 | -0.3 |
| YoY Gr. | - | NA | NA | NA | -918.4% | NA | NA | NA | -101.3% | NA | - |
| BVPS (₹) ⓘ | 63.2 | 52.7 | 38.8 | 38.7 | 29.8 | 21.4 | 12.8 | 28.7 | 28.3 | 31 | 20.9 |
| Adj Net Profit ⓘ | -22.1 | -21.1 | -27.8 | 2.2 | -17.9 | -16.3 | -17.4 | 51.2 | -0.7 | 4.1 | -2 |
| Cash Flow from Ops. ⓘ | -0.1 | 17.4 | -5.2 | 26.1 | 0.5 | 0.1 | 3.6 | -67.7 | -2.2 | 0.8 | - |
| Debt/CF from Ops. ⓘ | -1382.8 | 9.3 | -30.3 | 6.4 | 339 | 1960.6 | 56.9 | 0 | 0 | 0 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 57.3% | 55% | 135.6% | NA | ||||
| Adj EPS ⓘ | NA | NA | NA | NA | ||||
| BVPSⓘ | -7.6% | 0.8% | 34.3% | 9.6% | ||||
| Share Price | 18.8% | 62.2% | 92.8% | -24.7% | ||||
Key Financial Parameters ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -15.8 | -17.9 | -29.8 | 2.8 | -25.6 | -30.8 | -48.8 | 121 | -1.2 | 5.3 | -1 |
| Op. Profit Mgn % ⓘ | -2236.3 | -1033.7 | -2662.3 | -49.5 | -15.3 | -80.9 | 59.5 | -164020.9 | 0 | 11.7 | -149.9 |
| Net Profit Mgn % ⓘ | -8960.5 | -4712.2 | -4331.6 | 127.2 | -1087.1 | -2218.8 | -1541.1 | 46576.4 | 0 | 27.6 | -60.6 |
| Debt to Equity ⓘ | 1.2 | 1.5 | 2 | 2.1 | 3 | 4.5 | 8.1 | 0 | 0 | 0 | - |
| Working Cap Days ⓘ | 4,52,027 | 2,45,179 | 1,37,296 | 41,046 | 44,550 | 1,00,066 | 65,234 | 4,02,570 | 0 | 1,177 | 3,153 |
| Cash Conv. Cycle ⓘ | 1,68,458 | 83,547 | 54,275 | 20,219 | 20,214 | 46,310 | 28,736 | 1,57,051 | 0 | 68 | 2,314 |
Valuation of Kavveri Def. Wireles - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 34.47 | 24.62 | 24.62 | 24.62 | 14.16 | 14.16 | 14.16 | 5.08 | 5.08 | 5.08 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 25 | 15 | 6 | 5 | 4 | 6 | 3 | 2 | 17 | 8 |
| Operating Expenses ⓘ + | 25 | 27 | 10 | 5 | 6 | 7 | 212 | 3 | 15 | 10 |
| Operating Profit ⓘ | 1 | -12 | -4 | -0 | -2 | -1 | -209 | -1 | 2 | -1 |
| Operating Profit Margin (%) | 3.2% | -84.0% | -80.4% | -10.2% | -41.1% | -19.8% | -7,399.1% | -81.3% | 10.6% | -16.5% |
| Other Income ⓘ + | 3 | 1 | 1 | 1 | 1 | 1 | 241 | 0 | 5 | 3 |
| Interest ⓘ | 20 | 20 | 13 | 14 | 13 | 14 | 0 | 0 | 0 | 0 |
| Depreciation ⓘ | 18 | 16 | 4 | 3 | 3 | 2 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | -31 | -47 | -21 | -16 | -17 | -15 | 31 | -1 | 6 | 1 |
| Tax ⓘ | 0 | -17 | -21 | 1 | -0 | 3 | 0 | -0 | 0 | 0 |
| Profit After Tax | -32 | -30 | 1 | -18 | -16 | -18 | 31 | -1 | 6 | 1 |
| PAT Margin (%) | -124.0% | -202.0% | 13.7% | -388.0% | -396.0% | -322.0% | 1,114.9% | -84.2% | 37.4% | 14.8% |
| Adjusted EPS (₹) | -15.7 | -14.8 | 0.4 | -8.8 | -8.2 | -9.0 | 15.7 | -0.7 | 3.2 | 0.2 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 52 | 22 | 38 | 16 | 27 | 11 | 52 | 47 | 53 | 112 | |
| Debt + | 221 | 267 | 230 | 233 | 207 | 210 | 0 | 0 | 19 | 4 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 131 | 79 | 32 | 33 | 13 | 15 | 11 | 5 | 6 | 3 | |
| Others Liabilities ⓘ | 240 | 123 | 35 | 57 | 21 | 25 | 16 | 33 | 45 | 7 | |
| Total Liabilities ⓘ | 643 | 491 | 335 | 339 | 268 | 261 | 79 | 85 | 123 | 127 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 200 | 182 | 26 | 23 | 7 | 5 | 2 | 2 | 2 | 3 | |
| CWIP ⓘ | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | |
| Investments ⓘ | 6 | 6 | 0 | 0 | 0 | 0 | 21 | 21 | 21 | 22 | |
| Inventories | 77 | 75 | 73 | 74 | 58 | 58 | 2 | 1 | 3 | 4 | |
| Trade Receivables | 93 | 106 | 53 | 54 | 39 | 50 | 2 | 5 | 8 | 7 | |
| Cash Equivalents | 7 | 8 | 4 | 4 | 0 | 0 | 0 | 3 | 14 | 18 | |
| Others Assets ⓘ | 260 | 114 | 178 | 184 | 163 | 147 | 53 | 54 | 75 | 73 | |
| Total Assets ⓘ | 643 | 491 | 335 | 339 | 268 | 261 | 79 | 85 | 123 | 127 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 17 | 15 | -26 | 30 | -11 | 24 | -19 | -11 | 1 | -23 |
| Cash Flow From Investing Activity ⓘ + | 0 | 2 | 1 | -21 | 19 | -6 | 43 | -5 | -21 | -4 |
| Cash Flow From Financing Activity ⓘ + | -13 | -16 | 24 | -9 | -11 | -18 | -24 | 18 | 33 | 31 |
| Net Cash Flow ⓘ | 4 | 1 | -1 | 0 | -3 | -0 | -0 | 1 | 13 | 3 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -48.87 | -80.46 | 2.57 | -65.95 | -75.85 | -93.79 | 99.36 | -2.69 | 12.76 | 1.5 |
| ROCE (%) | -3.34 | -8.6 | -2.7 | -1.08 | -1.38 | -0.81 | 22.82 | -2.63 | 8.44 | 1.14 |
| Asset Turnover Ratio | 0.04 | 0.03 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.16 | 0.07 |
| PAT to CFO Conversion(x) | N/A | N/A | -26 | N/A | N/A | N/A | -0.61 | N/A | 0.17 | -23 |
| Working Capital Days | ||||||||||
| Receivable Days | 1,428.50 | 2,475.10 | 5,188.20 | 4,277.60 | 4,074.30 | 2,889.50 | 3,331.20 | 717.20 | 131.70 | 327.90 |
| Inventory Days | 1,107 | 1,889.90 | 4,850.90 | 5,917.70 | 5,815.60 | 3,762.20 | 3,838.90 | 362.10 | 49.20 | 149 |
| Payable Days | 0 | 0 | 0 | 8,444 | 3,710 | 1,720.90 | 2,770.10 | 2,975.70 | 244.50 | 512.30 |
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Announcements
Annual reports
No annual reports available.
Concalls
No concalls available.
Kavveri Defence & Wireless Technologies Ltd FAQs
The current trading price of Kavveri Def. Wireles on 11-Nov-2026 16:59 is ₹80.93.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Nov-2026 the market cap of Kavveri Def. Wireles stood at ₹487.2 Cr
The latest P/E ratio of Kavveri Def. Wireles as of 10-Nov-2026 is 0.00.
The latest P/B ratio of Kavveri Def. Wireles as of 10-Nov-2026 is 3.88.
The 52-week high of Kavveri Def. Wireles is ₹112.8 and the 52-week low is ₹51.05.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Kavveri Def. Wireles is ₹2.68 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Kavveri Defence & Wireless Technologies Ltd is a below average quality company.
The key valuation ratios of Kavveri Defence & Wireless Technologies Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Kavveri Defence & Wireless Technologies Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Kavveri Defence & Wireless Technologies Ltd
Founded in 1991 by a highly innovative team, Kavveri Telecom designs, develops, tests and implements a diverse range of products, from concept to deployment. With over 150 R&D man-years of experience, Kavveri Telecom is uniquely positioned to offer an array of world-class products and solutions to meet all hardware requirements of telecom manufacturers, telecom service providers and telecom users.
Kavveri Telecom is a leading telecom products manufacturer, providing world-class, hardware products and solutions for the telecom industry.
Kavveri Telecom combines expertise with experience to deliver state-of-art products and solutions spanning the wide spectrum of wireless telecommunications. The diverse range of products manufactured by Kavveri Telecoms includes antennas, RF components, repeaters, TMA/TMB and Solar Products.
The company also enjoys the stature of being the largest manufacturer of antennas & RF products in India. With 30,000 Sq. ft. area of R&D manufacturing infrastructure for design, development & production of Microwave Components, RF products and antennas, Kavveri Telecoms has the capacity of manufacturing over 1,00,000 high quality antennas & 10,000 RF products per month.
Headquartered in Bangalore, India, with three well-equipped production plants, Kavveri Telecom is geared to meet all telecom hardware needs of clients across the globe. Kavveri Telecom's esteemed clientele include industry giants such as Ericsson, Motorola, Spice, Airtel, BSNL, ISRO, World Space and Airports Authority of India.
Products and services offered by the company:
Products :
Antennas GSM Antennas
RF Components 2 Way, 3 Way, 4 Way Power Splitter (800 - 2500 MHz)
Cable and connectors
- RG Series
- KMR Series
- 1/2' Corrugated Low Loss
- 7/8' Corrugated Low
Repeaters
- GSM
- CDMA
TMA / TMBTMA
Solar Products
- Solar Modules
- Solar Power Pack
Solutions provided by Kavveri Telecom includes:
- Site/RF Survey, RF Planning, Designing & Implementation
- Repeater Based GSM & CDMA Indoor Coverage Solution
- Repeater Based GSM & CDMA Out door Coverage Solution
- Microcell Based Indoor Coverage Solution
Milestones:
- Oct 1991 - Kaveri Microwave Components Founded
- May 1994 - Antenna Division Operations started
- Jan 1995 - R & D Center Recognized by DSIR
- Jan 1996 - Kaveri Telecoms Ltd., Incorporated
- Aug 1997 - Manufacture of Communication Systems started
- Dec 1997 - ISO 9001 - Registration by KPMG
- Sept 2000 - Export Division started
- Aug 2002 - Solar Plant started
- Aug 2003 - Kaveri Telecoms changed to Kavveri Telecom Products Limited
Achievements/ recognition:
- ISO 9001 : 2000
- The Only approved supplier of antennas throughout the world for World Space Corporation, USA
- Only Indian company exporting antennas & RF products to North America
- The only company with largest number of approvals for antennas production from BSNL in India
- Largest manufacturer of antennas & RF products in India
- Mass manufacturing strengths in antennas & RF products - capacity to manufacture 1,00,000 high quality antennas & 10,000 RF products every month
- First Indian private owned company to have Anechoic Chamber for testing the antenna parameters
- First Indian company to design, develop & manufacture Frequency Translating Repeaters.
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