Login
Products
Login
Home
Alerts
Search
Watchlist
Products

Tejas Networks Ltd

TEJASNET
NSE
416.65
0.94%
Last Updated:
29 Apr '26, 4:00 PM
Company Overview
Guidance Tracker
Alert
Watchlist
Note

Tejas Networks Ltd

TEJASNET
NSE
416.65
0.94%
29 Apr '26, 4:00 PM
Company Overview
Guidance Tracker
Add Alert
Add to Watchlist
Edit Note
6M
Price
Charts
Documents

Quick Ratios

Edit Ratios
Mkt Cap
Market Capitalization
7,406Cr
Close
Close Price
416.65
Industry
Industry
Telecom Services
PE
Price To Earnings
PS
Price To Sales
6.71
Revenue
Revenue
1,103Cr
Rev Gr TTM
Revenue Growth TTM
-87.64%
PAT Gr TTM
PAT Growth TTM
-303.55%
Peer Comparison
How does TEJASNET stack up?
Compare up to 10 companies side by side across valuation, profitability, and growth.
TEJASNET
VS

Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue
RevenueCr
1883965601,3271,5632,8112,6421,907202262307333
Growth YoY
Revenue Growth YoY%
49.680.0104.0343.3730.7610.0371.943.7-87.1-90.7-88.4-82.5
Expenses
ExpensesCr
2343835671,0181,3332,2772,2711,785338556441451
Operating Profit
Operating ProfitCr
-4613-8309230535372122-136-294-134-118
OPM
OPM%
-24.53.3-1.323.314.719.014.16.4-67.2-112.2-43.8-35.5
Other Income
Other IncomeCr
191815121311148106810
Interest Expense
Interest ExpenseCr
578315761637175847272
Depreciation
DepreciationCr
34424858657411110396101104101
PBT
PBTCr
-66-18-49233122411211-45-297-473-303-281
Tax
TaxCr
-40-5-486441354627-103-166-106-69
PAT
PATCr
-26-13-4514777275166-72-194-307-197-211
Growth YoY
PAT Growth YoY%
-295.9-300.0-196.21,379.7394.72,277.1469.2-148.9-350.2-211.6-218.6-194.3
NPM
NPM%
-14.0-3.2-8.011.15.09.86.3-3.8-96.0-117.3-64.1-63.5
EPS
EPS
-1.6-0.7-2.68.64.516.19.4-4.1-11.0-17.4-11.1-11.9

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue
RevenueCr
6278757509003915275519222,4718,9231,103
Growth
Revenue Growth%
39.4-14.320.1-56.634.84.667.4168.1261.1-87.6
Expenses
ExpensesCr
5157115977044784736319062,2027,6651,785
Operating Profit
Operating ProfitCr
113164153196-8753-80162691,258-682
OPM
OPM%
17.918.720.421.8-22.410.2-14.61.710.914.1-61.8
Other Income
Other IncomeCr
4-22283734254379654533
Interest Expense
Interest ExpenseCr
493213178431551252303
Depreciation
DepreciationCr
38566166775277123182353403
PBT
PBTCr
2954106150-13923-117-43100698-1,354
Tax
TaxCr
0-390399-15-54-637252-445
PAT
PATCr
2993107147-23738-63-3663447-909
Growth
PAT Growth%
225.914.638.2-261.0115.8-267.141.9273.0609.0-303.6
NPM
NPM%
4.510.614.216.4-60.77.1-11.4-4.02.55.0-82.4
EPS
EPS
4.614.112.416.1-25.84.0-6.0-2.53.725.8-51.4

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
Equity CapitalCr
677494959597118172174180181
Reserves
ReservesCr
2945191,0581,2259851,0381,4752,8012,9763,6672,750
Current Liabilities
Current LiabilitiesCr
4474371762631381601674264,7376,2295,754
Non Current Liabilities
Non Current LiabilitiesCr
31422231812203316386718
Total Liabilities
Total LiabilitiesCr
8381,0341,3301,5851,2411,3122,1103,6028,20310,4629,403
Current Assets
Current AssetsCr
6056851,0141,2229529701,7502,6676,7688,4136,898
Non Current Assets
Non Current AssetsCr
2343503153632893423609351,4342,0492,505
Total Assets
Total AssetsCr
8381,0341,3301,5851,2411,3122,1103,6028,20310,4629,403

Cash Flow

Consolidated
Standalone
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow
Operating Cash FlowCr
127144239-821158-17-380-2,036-491135
Investing Cash Flow
Investing Cash FlowCr
-50-140-213-10471-167-828-581431-655-764
Financing Cash Flow
Financing Cash FlowCr
-41-28157-11-22-38399991,7131,286397
Net Cash Flow
Net Cash FlowCr
36-23183-19750-13-637107140-232
Free Cash Flow
Free Cash FlowCr
12793171-162-9275-48-427-2,187-815
CFO To PAT
CFO To PAT%
444.5155.3224.8-55.4-0.3419.927.61,044.0-3,233.5-110.1-14.9
CFO To EBITDA
CFO To EBITDA%
112.688.2156.7-41.6-0.7294.721.5-2,374.4-757.7-39.1-19.8

Ratios

Consolidated
Standalone
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
003,3191,5702931,4854,8679,78211,19913,4006,886
Price To Earnings
Price To Earnings
0.00.032.311.10.040.90.00.0181.230.6-7.6
Price To Sales
Price To Sales
0.00.04.41.70.82.88.810.64.51.56.3
Price To Book
Price To Book
0.00.03.01.20.31.43.13.43.63.52.4
EV To EBITDA
EV To EBITDA
1.61.120.27.4-2.024.1-56.4567.747.613.1-15.8
Profitability Ratios
Profitability Ratios
GPM
GPM%
44.141.249.048.547.949.043.639.235.926.930.5
OPM
OPM%
17.918.720.421.8-22.410.2-14.61.710.914.1-61.8
NPM
NPM%
4.510.614.216.4-60.77.1-11.4-4.02.55.0-82.4
ROCE
ROCE%
12.710.110.412.7-11.82.3-7.1-0.93.013.1-15.1
ROE
ROE%
7.915.79.311.2-21.93.3-3.9-1.22.011.6-31.0
ROA
ROA%
3.49.08.09.3-19.12.9-3.0-1.00.84.3-9.7
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Overview** Tejas Networks Ltd is a leading Indian R&D-driven telecommunications and networking equipment company headquartered in Bengaluru. Founded in 2000 and now part of the Tata Group, Tejas has evolved from a wireline-focused innovator into a global end-to-end telecom OEM (Original Equipment Manufacturer), offering converged wireless, optical, and packet technologies. With a strong "Designed and Made in India" ethos, the company addresses growing demand for trusted, secure, and cost-competitive telecom infrastructure across 75+ countries. As of October 2025, Tejas has solidified its position as a key player in both domestic and international markets, driven by macro industry trends, strategic partnerships, and significant product advancements. --- ### **Strategic Positioning & Vision** - **Vision**: To become a significant global telecom OEM by building a world-class, indigenous, end-to-end product portfolio. - **Core Pillars**: Accelerating product innovation, expanding global footprint, and deepening domestic leadership in India. - **Alignment with National Goals**: Actively supports India’s *Atmanirbhar Bharat* mission through localized R&D, manufacturing under the PLI (Production-Linked Incentive) scheme, and Trusted Source compliance. - **Global Expansion**: Aiming for 50% of revenue from international markets in the medium term, leveraging Tata Group’s global relationships and supply chain diversification opportunities. --- ### **Product Portfolio & Innovations (as of Oct 2025)** Tejas offers a full-stack portfolio across **wireless, optical transport, FTTx, packet switching/routing, and satellite communications**. #### **Wireless** - **5G RAN**: Offers fully indigenous 4G/5G Radio Access Network (RAN) systems compliant with both 3GPP and O-RAN standards. Key wins include: - Supplying 4G/5G RAN equipment for **over 100,000 BSNL cell sites**—one of the world’s largest single-vendor 4G/5G deployments. - Launch of **64T64R massive MIMO radios**, supporting urban, suburban, and rural deployment. - India’s **first private 5G RAN deployment in a coal mine** under BSNL’s CNPN program. - **Direct-to-Mobile (D2M)**: Proprietary **SL3000 SDR chip** integrated into smartphones, feature phones, and laptops, enabling satellite-based broadcasting and emergency communication. - **SDR Technology**: Third-generation Software-Defined Radio chipsets used in consumer devices and mission-critical systems, leveraging Saankhya Labs' expertise. #### **Optical & Wireline** - **800G & 1.2T DWDM Systems**: Launched a **1.2 Tbps Muxponder** using extended C+L band, enabling up to 76.8 Tbps per fiber—among the highest in the industry. - Won 400G/800G deployments in **India, Europe, Cambodia, Ghana, Nigeria**, and other markets. - **Alien Wavelength Solutions**: One of the only global providers of commercially deployed alien wavelength technology, enabling customers to upgrade third-party 10G DWDM networks to 100G–400G+ without replacing incumbent infrastructure. - **Micro-OTN & Disaggregated Switching**: The **TJ1600S/I** supports multi-terabit, pay-as-you-grow packet-optical switching. - **GPON/XGS-PON/50G-PON**: - **10G-COP (Combo PON)** deployed in Europe—the first in the region. - Expanding FTTx reach in emerging and developed markets alike. #### **Routing & Switching** - **IP/MPLS Routers**: Largest supplier by package count for **BharatNet Phase-3**, supplying core routers for pan-India backhaul. - **Vodafone Idea Partnership**: Multi-year contract for **TJ1400/TJ1600** routers to support their 4G/5G nationwide backhaul network. #### **Unified Network Management** - **TejNMS**: A single, cloud-ready network management system for cross-layer service provisioning across wireless, optical, GPON, and IP/MPLS technologies—enabling zero-touch provisioning and predictive fault detection. #### **Satellite & IoT** - Through **Saankhya Labs**, Tejas offers: - Satellite-IoT communication for remote environments. - Vessel Tracking Systems deployed by NSIL for Indian fishermen with real-time alerts and weather updates. - ATSC 3.0 broadcast receivers and satellite transmitters. --- ### **Key Projects & Strategic Wins (Oct 2025)** - **BSNL 4G/5G Rollout**: Supplied radio and baseband units for 100,000+ sites (inaugurated by PM), serving as a global reference project for emerging markets. - **BharatNet Phase-III**: Key supplier of IP/MPLS routers; largest supplier by package count. - **Europe**: First 10G-COP deployment, major FTTx project with **FibreConnect Italy**—first end-to-end EU deployment using GPON/OTN/DWDM. - **Africa & Asia**: 400G DWDM deployments in **Ghana, Nigeria, Cambodia**; alien wave adoption by Tier-1 carriers. - **U.S. Engagement**: Proof-of-concept trials with a major U.S. telecom provider for network modernization using **alien wavelengths and TJ1400 ultra-converged platforms**. --- ### **Innovation & R&D** - **R&D Spend**: ₹557 crore in FY25 (~16.3% of revenue), among the highest R&D spenders in India. - **Engineering Talent**: 1,980+ employees, with >60% in R&D; 250+ engineers from Saankhya Labs. - **Patents & IP**: 440+ global patents; >350 semiconductor IP assets; active contributor to 3GPP, O-RAN, TSDSI, and ITU. - **6G R&D Focus**: Ubiquitous connectivity, AI-driven automation, integrated sensing, and O-RAN-based systems. - **Acquisition of Saankhya Labs**: Strengthened capabilities in D2M, satellite comms, broadcast, and fabless chip design; supports in-house semiconductor roadmap including SoC development under DLI scheme. --- ### **Manufacturing & Operations** - **Asset-Light Model**: Partners with Indian and global EMS providers for scalable production. - **In-House Integration & QC**: 72,000 sq. ft. integration and testing facility in Bengaluru; new 104,000 sq. ft. manufacturing facility launched. - **Design-Led PLI Scheme**: Approved under India’s PLI program, committing ₹750 crore in capex. - **Standards Compliance**: TL9000, ISO, ANSI, IEC—ensuring global export readiness. --- ### **Global Business & Partnerships** - **Strategic Collaborations**: - **NEC (Japan)**: Co-development of advanced 5G RAN, access to NEC’s 4G/5G core, and joint go-to-market. - **Rakuten**: Expanding international wireless customer engagement. - **Sales Expansion**: New offices in Southeast Asia, ANZ, and the Americas; direct and OEM sales models. - **Target Markets**: Focus on high-growth regions with similar infrastructure needs to India—**Africa, Southeast Asia, Latin America, and strategic entry into Tier-2/3 U.S. operators**. - **Global Footprint**: Deployed in over 500 networks across 75+ countries. --- ### **Competitive Advantage** 1. **Software-Defined Hardware™**: - Enables remote upgrades from 4G to 5G and from 100G to 800G, reducing TCO. - Supports “pay-as-you-grow” scalability and multi-application convergence on a single shelf. 2. **End-to-End Convergence**: - **TJ1400 UltraFlex Baseband** integrates 4G/5G RAN, FTTx, IP/MPLS, and transport in a 2U platform. 3. **Cost Leadership**: - India-based R&D and manufacturing provide a ~4x cost advantage over global peers. 4. **Trusted Supplier Status**: - Fully indigenous, secure, and compliant with Indian Trusted Sourcing and global cybersecurity norms.