NELCO Q4 FY26 Results: Q4 PAT Recovers to ₹109 Lakh After Q3 Loss — FY26 Annual Profit ₹332 Lakh Impacted by ₹381 Lakh Exceptional Item, Dividend ₹1/Share

Tue Apr 21 2026

NELCO Limited — a Tata Group enterprise and India’s leading satellite communication (SatCom) services provider — declared its Q4 FY26 and full-year FY26 audited results on April 20, 2026. The final quarter showed a meaningful recovery: NELCO returned to profitability with Q4 FY26 net profit of ₹109 lakh, bouncing back from a net loss of ₹119 lakh in Q3 FY26. Total income for Q4 was ₹81.11 crore, up sequentially from ₹78.88 crore in Q3 FY26.

For the full year FY26, the results present a more sobering picture due to exceptional items. FY26 net profit came in at ₹332 lakh — down significantly from ₹953 lakh in FY25. The decline is primarily attributable to an exceptional item of ₹381 lakh during the year, and changes in tax expenses. Core operations remained broadly steady, with FY26 total income of ₹310.96 crore — essentially flat versus ₹310.05 crore in FY25. The board recommended a final dividend of ₹1 per equity share for FY26.

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Table of Contents

NELCO Q4 FY26 Financial Results

Metric	Q3 FY26	Q4 FY25	Q4 FY26 (Actual)
Total Income	₹78.88 Cr	—	₹81.11 Cr (+3% QoQ)
Net Profit / Loss	₹(119) Lakh (Loss)	—	₹109 Lakh (Profit)
Operating Expenses	—	—	₹39.17 Cr
FY26 Total Income	—	FY25: ₹310.05 Cr	₹310.96 Cr (Flat)
FY26 Net Profit	—	FY25: ₹953 Lakh	₹332 Lakh (↓65.1%)
FY26 EPS (Basic)	—	₹4.18	₹1.45
Exceptional Item	—	Nil	₹381 Lakh (Hit FY26)
Dividend	—	—	₹1/share (Final FY26)

Source: NELCO audited consolidated results, EquityBulls, BSE/NSE filing April 20, 2026.

SatCom Operations: Steady Amid Capex Phase

NELCO operates in India’s satellite communications market across three core verticals: maritime connectivity for vessels, aero connectivity for aviation, and remote industrial connectivity for oil & gas, mining, and utility companies. The business is capital-intensive — satellite bandwidth leasing, ground station operations, and customer premise equipment are significant ongoing costs. Operating expenses for Q4 were ₹39.17 crore, reflecting steady satellite bandwidth and network management costs.

The FY26 revenue stability (essentially flat YoY at ₹311 crore) reflects a consolidation phase as the company manages existing contracts while investing in the buildout of next-generation VSAT and Low Earth Orbit (LEO) satellite connectivity solutions. India’s satcom regulatory environment is evolving with TRAI recommendations on spectrum allocation and Starlink’s pending India approval — factors that could significantly impact NELCO’s competitive positioning in FY27 and beyond.

Exceptional Item Context

The FY26 annual PAT of ₹332 lakh versus ₹953 lakh in FY25 is primarily explained by an exceptional item of ₹381 lakh — a non-recurring charge that dragged annual profitability significantly. Without this item, core operating profitability would have been more comparable to FY25. The Q4 FY26 return to quarterly profitability (₹109 lakh from a Q3 loss of ₹119 lakh) suggests the exceptional item burden is now cleared and operational momentum is positive heading into FY27.

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Conclusion

NELCO’s Q4 FY26 results show a business that is operationally stable but undergoing a year of exceptional disruption that has compressed annual profitability. The Q4 quarterly turnaround from a loss to ₹109 lakh profit is directionally positive. FY27 will be important: if NELCO can sustain revenue growth and avoid further exceptional items, the core operating profitability should recover toward FY25 levels. The Tata Group backing provides strategic stability in a sector where capex requirements are significant.

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Frequently Asked Questions

1. What was NELCO Q4 FY26 net profit?

₹109 lakh — a recovery from a net loss of ₹119 lakh in Q3 FY26. Q4 revenue was ₹81.11 crore.

2. Why did NELCO’s FY26 annual profit decline sharply?

FY26 full-year PAT was ₹332 lakh, down from ₹953 lakh in FY25 — primarily due to an exceptional item of ₹381 lakh and changes in tax expenses. Core operations remained broadly stable with revenue flat at ₹311 crore.

3. What is NELCO’s business?

NELCO provides satellite communication (SatCom) services for maritime, aviation, and remote industrial sectors. It is a Tata Group enterprise and one of India’s largest VSAT service providers.

4. What dividend did NELCO declare?

The board recommended a final dividend of ₹1 per equity share for FY26, subject to shareholder approval at the AGM.

5. What was the NELCO Q3 FY26 performance?

NELCO reported a net loss of ₹119 lakh in Q3 FY26 with revenue of ₹78.88 crore. The Q4 FY26 recovery to ₹109 lakh profit signals improved performance in the final quarter.

6. How is NELCO positioned in the satellite market?

NELCO serves maritime, aero, and remote industrial sectors with VSAT services. The India SatCom market is evolving with LEO constellation entrants (Starlink, OneWeb) pending regulatory approvals — creating both risk and opportunity for established players like NELCO.

7. When do TCS announce Q4 results?

TCS declared Q4 FY26 results on April 9, 2026.

8. Is NELCO a good investment?

NELCO’s FY26 was impacted by an exceptional item; underlying operations are stable. The Tata Group backing and SatCom market growth are long-term positives. Key risks: LEO satellite competition and capex requirements. At current valuations, monitor FY27 revenue trajectory. Consult a SEBI-registered advisor before investing.

Disclaimer: Investment in the share market is subject to risk. This article is for informational and educational purposes only. All financial data sourced from publicly available NSE/BSE filings and news sources. Verify all numbers before investing. Consult a SEBI-registered advisor before making investment decisions.