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Tejas Networks Ltd

₹ 445-0.96%
06 Jan – close price
🔗tejasnetworks.com•BSE: 540595•NSE: TEJASNET
Market Cap₹ 7,905 Cr.
Current Price₹ 445
High / Low₹ 1,175
Stock P/Enull
Book Value₹ 188
Dividend Yield0.56 %
ROCE15.4 %
ROE12.6 %
Face Value₹ 10.0
Sales₹ 5,007 Cr.
OPM1.46 %
Mar Cap₹ 7,905 Cr.

ABOUT

Incorporated in 2000,Tejas Networks Ltd designs and manufactures wireline and wireless networking products, with a focus on technology, innovation and R&D. TNL carrier-class products are used by telecom service providers, utilities, governments, and defence networks in 75+ countries. Company is currently a part of Panatone Finvest Limited (a subsidiary of Tata Sons Private Limited).[1]

KEY POINTS

ParentageTejas Networks, promoted byPanatone Finvest Limited, a subsidiary of Tata Sons Private Ltd. The Tata Group is a global enterprise headquartered in India. The group operates in 100+ countries across 6 continents.[1]

Also present in buckets:
Aggressive Growth TriggersRevenue GuidanceCapacity Expansion And ProductsPreferential IssuanceOrder Book PositionLarge Order ReceiptsCredit Rating UpdatesRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.ITI309.45–29804.960.00-54.2424.09543.40-46.53-1.333121.65-1.51-246.62-52.5320.54-2.680.90
2.Tejas Networks445.25–7905.090.56-307.17-215.40261.37-90.7015.385006.861.46-397.67-307.172.374.831.29
3.Sterlite Tech.99.161209.954839.800.004.00123.531034.00-3.722.864105.0012.014.004.002.36-1.840.94
4.Optiemus Infra.504.3064.814457.230.0016.7822.21418.27-12.2414.401774.386.5968.7716.786.224.370.35
5.Valiant Commun.842.5070.47964.000.125.2788.2120.1758.5721.1362.9730.0613.685.2713.3814.040.03
6.ADC India1457.1037.11670.272.064.31-50.5745.75-9.9246.57178.5211.4818.064.318.7022.430.00
7.Birla Cable135.6180.88406.830.000.69-65.50176.07-3.115.14666.544.825.030.691.501.140.41
–Median: 11 Co.156.950.96670.270.00.6922.2154.93-3.729.59219.3911.487.450.692.624.370.38

Quarterly Results

Standalone figures in ₹ crores

Dec 2022Dec 2023Dec 2024Jun 2023Jun 2024Jun 2025Mar 2023Mar 2024Mar 2025Sep 2022Sep 2023Sep 2024Sep 2025
Sales
2535652,6421671,5622022841,3261,9022063952,810261
Expenses
2325722,2712071,3323382811,0171,7701813812,276555
Operating Profit
21-7371-40230-13643101312513534-294
Other Income
201514201310211281918116
Profit before tax
11-45211-51124-297-6236-3519-14411-473
Tax %
52%-8%22%-71%35%-35%-18%36%76%52%-35%35%-35%
Net Profit
5-41165-1581-194-5150-629-9266-307
EPS in Rs
0.35-2.449.41-0.864.74-10.98-0.298.80-3.520.61-0.5515.54-17.37

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
3953866268627438943865245498712,4748,9165,007
Expenses
3003185157075896884644596138272,2047,6494,934
Operating Profit
9468111155154206-7865-64442701,26773
Other Income
11103-23272625132677654537
Interest
444649311317843538247293
Depreciation
564938566166775277105182353412
Profit before tax
5-172844107149-13822-11811114711-595
Net Profit
5-172883107147-23637-64385451-398
EPS in Rs
0.90-2.844.3511.7311.7915.99-25.614.00-5.560.185.0025.56-22.46
Dividend Payout %
0%0%0%0%0%6%0%0%0%0%0%10%–

Compounded Profit Growth

10 Years:40%
5 Years:31%
3 Years:128%
TTM:-187%

Compounded Sales Growth

10 Years:37%
5 Years:87%
3 Years:153%
TTM:-20%

Return on Equity

10 Years:4%
5 Years:5%
3 Years:6%
Last Year:13%

Stock Price CAGR

10 Years:%
5 Years:27%
3 Years:-9%
1 Year:-62%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
6262677494959597118172174180180
Reserves
2332173035181,0581,2249841,0361,8092,8363,1563,6763,150
Borrowings
28730324728121282220481,8843,4074,296
Other Liabilities
1581312191531692601321601624003,0023,2092,264
Total Liabilities
7407138361,0261,3231,5801,2401,3152,1093,4558,21710,4719,890
Fixed Assets
655194927599791111382199611,1471,942
Gross Block
2672743561481922823714235247101,6552,151–
Accumulated Depreciation
202224262561181832933123864916951,005–
CWIP
8488521947412724401362354041
Investments
555587976248413557352500369
Other Assets
5865696859111,1141,3421,0721,1311,5192,5436,6698,4207,578
Total Assets
7407138361,0261,3231,5801,2401,3152,1093,4558,21710,4719,890

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
1965128136246-811157-19-369-2,038-493
Cash from Investing Activity
-74-29-50-140-219-10471-167-828-608430-655
Cash from Financing Activity
25-30-40-16157-11-22-38401,0111,7141,286
Net Cash Flow
-30738-19184-19750-14-733106138

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
201184145155127248344230183194208182
Inventory Days
379396235129179143452290327410857133
Days Payable
258219203769812914013413720142567
Cash Conversion Cycle
322362178208208262656387373403640248
Working Capital Days
29794547325330157537954651620556
ROCE %
9%5%13%14%12%14%-10%3%-6%1%4%15%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
51.97%56.37%55.97%55.92%55.80%55.60%55.50%55.42%54.01%53.83%53.73%53.66%
FIIs
11.22%10.49%10.91%11.11%11.26%11.33%10.20%9.58%8.04%7.08%6.14%6.24%
DIIs
4.20%3.98%3.89%4.03%4.35%4.76%4.91%4.76%4.65%4.85%4.72%4.79%
Public
32.60%29.16%29.21%28.93%28.58%28.31%29.39%30.24%32.65%33.59%34.94%34.92%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Tejas Networks Partners with IIT Gandhinagar for Telecom Innovation

1st April 2026, 1:50 pm

Tejas Networks Completes Delivery of 17,000 Routers for BharatNet Phase III

30th March 2026, 2:54 pm

Tejas Networks Allots 78,425 Equity Shares Under ESOP Plans

25th March 2026, 5:55 pm

Tejas Networks Secures 4G Network Expansion Deal in South Asia

16th March 2026, 2:07 pm

Tejas Networks Closes Trading Window from March 17 for Financial Results

11th March 2026, 11:07 pm

Published by Other Websites

External media mentions & references

Tejas, Escorts, Dmart Drive Indian Markets Higher on FY27 Open

1st April 2026, 6:30 pm

Market Roars Back: Defense, Aviation Stocks Soar; GRSE Jumps 19%

1st April 2026, 12:12 pm

Tejas Networks Ships 17,000 Routers; Stock Declines 5.9%

30th March 2026, 6:48 pm

BSNL 4G Delay: India's Indigenous Tech Bet Pays Off, Minister Says

27th March 2026, 12:27 am

Indian Stocks Jump as Asian Paints, Autos, Energy Firms Rally on Orders, Price Hikes

24th March 2026, 2:16 pm

News Articles

Editorial & research coverage

Chandrasekaran's Tata Tenure: Continuity Meets Crisis
Chandrasekaran's Tata Tenure: Continuity Meets Crisis

8th February 2026, 4:24 pm

India Boosts Telecom with Rs 74,560 Cr for Digital Leap
India Boosts Telecom with Rs 74,560 Cr for Digital Leap

1st February 2026, 3:59 pm

Small-Caps Surge, But Market Breadth Flashes Warning
Small-Caps Surge, But Market Breadth Flashes Warning

28th January 2026, 3:54 pm

Indian Equities Recover Amidst India-EU Deal Optimism
Indian Equities Recover Amidst India-EU Deal Optimism

27th January 2026, 4:12 pm

HFCL Deploys Indigenous Routers for BharatNet, Boosting 'Make in India'
HFCL Deploys Indigenous Routers for BharatNet, Boosting 'Make in India'

26th January 2026, 9:07 pm

Documents

Announcements

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

9h - Certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018 for Q3 FY 2026

Board Meeting Intimation for Consider And Approving, Inter-Alia, The Financial Results For The Quarter And Nine Months Ended December 31, 2025

2 Jan - Board meeting Jan 9, 2026 to approve Q3/9M FY26 results; analyst call same day.

Announcement under Regulation 30 (LODR)-Allotment

31 Dec - Allotted 93,807 shares on Dec 31, 2025; paid-up capital increased to ₹1,77,54,27,650.

Closure of Trading Window
Announcement under Regulation 30 (LODR)-Press Release / Media Release

11 Dec - Awarded IP routing contracts for 7 of 12 BharatNet Phase III packages; over 50,000 routers across 57,000 GPs.

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

(from bse)

Financial Year 2018

(from bse)

Financial Year 2017

(from bse)

Credit Ratings

Rating update

29 Oct 2025 from icra

Rating update

10 Jun 2025 from icra

Rating update

31 Mar 2025 from icra

Rating update

23 Jul 2024 from icra

Rating update

10 Apr 2023 from icra

Rating update

9 Aug 2021 from icra

Concalls

Nov 2025

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Stock Analysis

Description

Tejas Networks Limited designs and manufactures wireline and wireless telecom equipment, focusing on R&D and innovation. As part of the Tata Group, it serves telecom operators, utilities, governments, and defense networks in over 75 countries.

Key Growth Triggers

  1. Continued traction in BharatNet Phase III project deployments.
  2. Progress in international engagements for 4G/5G RAN equipment, with multiple trials moving to commercial negotiation.
  3. Increasing adoption of wireline products by Indian private telcos and international operators.
  4. Demand growth driven by AI applications, data traffic, and 5G/4G network expansions.
  5. Growing traction for optical products in AI data center connectivity.

Order Book

Order Book: January 2026 = ₹1,329 Cr

Key Red Flags

  1. Persistent net losses, with Q3 FY26 showing ₹197 Cr loss.
  2. Significant delay in the BSNL 4G add-on order, impacting revenue targets and profitability timelines.
  3. High inventory levels (₹2,363 Cr) tied to the delayed BSNL order raise working capital concerns.

Key Dates To Watch

  1. Continued discussions on international order closures.
  2. Progress on CEO appointment.
  3. Upcoming earnings call for Q4 FY26 to monitor performance recovery.

Corporate Announcements

1st Apr 26
Impact Rating: 7
Tejas Networks and IIT Gandhinagar will collaborate on cutting-edge research and training in telecom technologies, aligning with national priorities and the Atmanirbhar Bharat vision.
30th Mar 26
Impact Rating: 8
Tejas Networks achieved a milestone by shipping over 17,000 IP/MPLS routers for BharatNet Phase III, with a total of nearly 60,000 routers planned across India.
25th Mar 26
Impact Rating: 7
On March 25, 2026, Tejas Networks allotted 78,425 equity shares to employees under various stock option plans, leading to an increase in paid-up capital.
16th Mar 26
Impact Rating: 7
Tejas Networks announced it has received a purchase order to supply its 4G RAN solutions for a mobile network expansion in South Asia. This move marks a significant step towards expanding its international customer base and showcasing its technology.
11th Mar 26
Impact Rating: 3
Tejas Networks Ltd. is closing its trading window for designated employees from March 17, 2026, adhering to SEBI insider trading norms. The window will reopen 48 hours after the company announces its financial results for the quarter and year ending March 31, 2026.