Research Reports
Veremax Technologie Unlisted Shares

DMAT
PUBLIC LIMITED
Price Chart
High
₹420
Low
₹399
Return
-5.00%
ISIN
INE1K1L01010
Face Value
10
Total Shares
2,00,00,000
Market Cap
798 Cr
Profit After Tax
0 None
Total Revenue
0 None
Sector
Telecom
Sub-sector
Telecom Infrastructure
Category
Micro Cap
● Established in 2013 and headquartered in Chennai, Veremax is an unlisted public company operating in the Telecom Infrastructure sector, holding critical IP-1 (Infrastructure Provider) and ISP licenses.
● The company functions as an EPC (Engineering, Procurement, and Construction) contractor, specializing in the installation of optical fiber cables (OFC), telecom towers, and 4G/5G network deployment for major operators.
● It has graduated to a "Large Enterprise" status with FY24 revenue of ₹523 crore (up ~20% YoY), reflecting strong execution capabilities and expanding profit margins of ~6.16%.
● The business model is highly concentrated, with Reliance Jio accounting for a significant majority of its revenue, which ensures high volume but exposes the company to counterparty concentration risk.
● Despite reporting profits, the company is currently in financial distress, holding a "Default" (D) credit rating and facing insolvency proceedings due to severe working capital mismatches and delays in servicing debt.
Explore in-depth financial analysis, performance metrics, and key disclosures.
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