Tejas Networks Posts ₹909 Crore Net Loss for FY26

Tejas Networks reported a net loss of ₹909 crore for the financial year 2025-26, a significant reversal from a profit of ₹447 crore in FY25. Revenue from operations fell sharply to ₹1,103 crore from ₹8,923 crore.

Reader Takeaway: Revenue drop and loss due to project cycle; order book growth signals future potential.

What just happened

Tejas Networks Ltd. has announced its financial results for FY 2026, revealing a consolidated net loss of ₹909 crore on revenue from operations of ₹1,103 crore. This marks a substantial decline from the previous fiscal year, where the company had reported a profit of ₹447 crore and revenue of ₹8,923 crore.

Why this matters

The shift from profit to a significant loss and the steep fall in revenue directly impact shareholder value and reflect challenges in managing project-based revenues. However, a strong order book provides some visibility for future performance.

The backstory

The sharp revenue decline in FY 2026 is largely attributed by management to the completion of a large BSNL 4G project in the prior fiscal year and delays in other ongoing projects. The company's international business contribution increased to 16% from 3% year-on-year.

What changes now

With a net loss and lower revenue, the company faces financial pressure. However, the order book has grown by nearly 49% to ₹1,514 crore as of March 31, 2026. The company has also seen leadership changes with Arnob Roy appointed as MD & CEO and AVS Prasad as CFO.

Risks to watch

Key risks include the company's profitability due to its fixed cost structure and revenue volatility stemming from its project-based business model. Project execution delays were explicitly cited as a reason for the revenue shortfall.

Peer comparison

No direct peer comparison was provided in the filing.

Context metrics (time-bound)

• FY 2026 Revenue: ₹1,103 crore (down from ₹8,923 crore in FY 2025)
• FY 2026 Net Loss: ₹(909) crore (compared to ₹447 crore profit in FY 2025)
• FY 2026 EPS: ₹(51.35) (down from ₹25.75 in FY 2025)
• Order Book (as of March 31, 2026): ₹1,514 crore (up from prior year)
• Cash and cash equivalents (as of March 31, 2026): ₹505 crore
• Net debt (as of March 31, 2026): ₹3,531 crore

What to track next

Investors should monitor the company's execution of its current order book and its ability to manage fixed costs to improve profitability. The impact of the 'AI super-cycle' on future demand for network infrastructure will also be crucial.