AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Retirement 30 Sep - Mr. Pravir Dahiya superannuated from TTML effective September 30, 2026.
Source: Bse
Tata Teleservices (Maharashtra) Limited (TTML)
Large CapTelecom stocks · Large cap · NSE
Tata Teleservices (Maharashtra) Limited operates in Telecom Services, within the Telecom sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:15 pm ISTDetails
Quote21 Oct, 03:15 pm IST
Base fundamentals16 Oct 2026 · screener
Latest result22 Jul, 06:12 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage11/14 · 79%
Valuation2026-07-20 · Rf 6.8% · Telecom P/E 28.1 (n=16)
Technical timing lens
Trend score and candlestick chart
24Bearishfull bear SMA stack · SMA20 -7.6% / mo · MACD + · near 52W low
Stock trend: 24
Sector RS: —
Telecom FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
TTMLD candles · FIT view-27.6%TODAY · PROVISIONALLatest price ₹32.07 on 2026-10-21
Today's candle is provisional from the latest intraday quote; completed-candle scans remain unchanged.
Bar
-2.4%
RSI
32
MACD hist
-0.03
52W pos
3%
2026-10-21O ₹32.87H ₹33.18L ₹31.92C ₹32.07Vol 9.2L shIntraday candle
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
TTMLNifty TelecommunicationsNifty 500
- TTML
- -18.3%
- Nifty 500
- -5.6%
- Nifty Telecommunications
- +3.9%
- Vs Nifty 500
- -12.7 pp
Chart stats
19 Oct 2026- From 52W high
- -44.8%
- 52W range position
- 6%
- ATR (14)
- 3.3%
- Volume vs 20D
- 0.14x
- Avg traded value
- ₹22.2 Cr
- 20D price channel
- ₹32.6 - ₹37.9
₹59.6
₹31.2 - ₹59.6
₹1.1
Latest completed session
20-session average
30.3% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · WATCHLIST32
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad25
Revenue +6.3% · PAT NDF YoY
Technical
Bearish24
Price trend and sector-relative-strength timing.
Valuation
Legacy model-1270.0%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence70
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 25/100Rev +6% YoY · margin expansion
Filed 22 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹302 Cr | +6.3% | +2.0% |
| EBITDA | ₹165 Cr | +12.2% | +1.2% |
| Operating margin | 55.0% | +300 bps | +0 bps |
| PAT | ₹-72 Cr | NDF | -112.4% |
| PAT margin | -23.8% | +9060 bps | -22012 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- —
- P/B
- —
- EV/EBITDA
- 35.10
- Market Cap
- 6541.00Cr
Profitability
- ROE
- —
- ROCE
- 55.60%
- ROA
- 2.83%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 2.00%
- EPS 5Y
- 5.00%
- Revenue 3Y
- 2.00%
- EPS 3Y
- 7.00%
Balance Sheet
- Debt/Equity
- 0.00
- Interest Coverage
- 0.57×
- Altman Z
- 1.23
- Book Value
- -102.00
Cash Flow
- FCF Yield
- 8.82%
- FCF Positive Y
- 8/5
- OCF
- 668.00 Cr
- EPS TTM
- 0.19
Shareholding
- Promoter Hold
- 74.36%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 12%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 1,160-11.3% vs prev
Net Profit
₹ CrLatest: -215+83.1% vs prev
Return on Equity
%No data
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 32.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~8.4% over last month) — short-term momentum negative.
- RSI(14) at 32 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
5
RS percentile
Stage 4 Downtrend
1M return
-8.0%
3M return
-18.3%
6M return
-25.9%
1Y return
-40.5%
RS 1D
0
RS 20D
-2
Sector rank
#7
Industry rank
#2
Stage evidence
- Price is 17.2% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -1.9%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
improving
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 61.71-1.01%
RS vs Nifty 50062
Valuation & peers
U-Score 32 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 32 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Distress Watch
Fundamental score breakdown
U band · WATCHLISTValuation0/30
Growth7/25
Quality5/20
Balance Sheet4/15
Cash Flow10/10
Piotroski
7/9 (+5)
Penalties
1
Raw sum
32
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
32/100 · legacy band WATCHLIST
Positive drivers
- FCF yield is supportive at 8.8%.
- Piotroski is strong at 7/9.
- Cash flow contributes 10/10 to the score.
Main drags
- Altman Z is 1.2, in distress territory.
- Fair-value margin of safety is negative at -1270.0%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
Sector valuation model
Telecom valuation: EV/EBITDA against ARPU, debt, and capex
Telecom needs enterprise-value and cash-flow framing because leverage is structurally important.
Primary lens
EV/EBITDA and debt-adjusted cash generation.
Secondary checks
ARPU growth, subscriber quality, spectrum liabilities, capex intensity.
Main risk check
High EBITDA can still be weak equity value if debt and capex absorb cash.
PE
—
PB
—
EV/EBITDA
35.1
ROE
—
ROCE
55.6%
FCF Yield
8.8%
Debt/Equity
0.0
MoS
-1270.0%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
32
Previous: 32
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-1270.0%
Previous: -1304.2%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
32
32
32
32
32
32
32
32
32
32
32
32
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
—
Growth-justified P/E
12.3
Growth-justified Value
₹2.34
-1270.0% MoS
PEG
—
Comparable companies
Peers
Business-comparable peers in Telecom — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
MTNL
Small
Mahanagar Telephone Nigam Limited
Telecom Services
match 79
16
—
—
—
OVERVALUED
RCOM
Small
Reliance Communications Limited
Telecom Services
match 78
25
—
—
—
OVERVALUED
HPTL
SME
HP Telecom India Ltd.
Telecom Services
match 77
57
19.6
28.9%
+53%
FAIR VALUE
ACCORD
SME
Accord Synergy Ltd.
Telecom Services
match 76
5
84.8
6.0%
-680%
OVERVALUED
BHARTIARTL
Large
Bharti Airtel Limited
Telecom Services
match 74
57
38.1
20.3%
+9%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Tata Teleservices (Maharashtra) Limited operates in Telecom Services, within the Telecom sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
70Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 63rd percentile of the scored universe and 81st percentile within Telecom. Main check: results consistency is weak at 33/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 21 Oct 2026
management-trust-v1
8 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
63rd percentile
overall median 67 · Telecom: 81st pctile, median 66 · Large: 40th pctile, median 73
Evidence depth
Financial-only
8 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
89
strong · profit to cash conversion
Balance sheet
48
watch · leverage and solvency
Discipline
82
strong · capital discipline
Results
33
weak · quarterly consistency
Trust positives
- ▸Promoter holding is 74.4%.
- ▸Promoter pledge is zero.
- ▸FCF yield is 8.8%.
- ▸8 years of positive FCF.
Trust risks
- ▸Altman Z is 1.23.
- ▸Interest coverage is 0.6x.
- ▸1/4 latest quarters had positive YoY revenue growth.
- ▸OPM spread across recent quarters is 20%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Tata Teleservices (Maharashtra) Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 16 Sep - TTBS study finds 84% of SMEs plan higher cybersecurity investment over 12-24 months.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 28 Jul - TTBS and Tata Communications launch unified AI infrastructure for SMBs, including AI voice agents and cloud stack.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 23 Jul - Please see attached copies of the newspaper, wherein extracts of the Financial Results of the Company for the 1st Quarter ended June 30, 2026 were …
Source: Bse
Annual reportJun 2026
Jun 2026 · Reg. 34 (1) Annual Report. 13 May - 31st AGM on June 5, 2026; FY2025-26 annual report and statutory reports released.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 25 Jun - TTBS launches #RozBanateHainNayaKal campaign on MSME Day 2026 to celebrate Indian MSMEs.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 15 May - Newspaper advertisement informing about e-Voting details, procedure for registering email address and 31st AGM of the Company.
Source: Bse
Annual report
Business Responsibility and Sustainability Reporting (BRSR) 13 May - TTML filed FY26 BRSR and annual report; disclosed ₹3.8 crore DoT penalty, ₹3.4 crore under challenge.
Source: Bse
Annual report
Notice Convening 31St Annual General Meeting Of The Company To Be Held On Friday, June 5, 2026 At 1100 Hours (IST) Via Video Conference/Other Audio Visual Means 13 May
Source: Bse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Bse
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.