Tejas Networks Limited has informed the Exchange about Transcript
TEJASNET · price
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Tejas Networks reported a weak Q1 FY26 with revenue of INR 202 crores, sharply lower than INR 1,907 crores in Q4 FY25, and a net loss of INR 194 crores driven by delayed BSNL purchase orders, shipment clearances, and inventory arrivals. The order book stood at INR 1,241 crores (92% India, 8% international), and management expects to receive an additional ~INR 1,500 crore order from BSNL for 18,000+ 4G expansion sites shortly, to be executed within FY26. Key wins included the first private 5G deployment order under BSNL's CNPN initiative, an initial BharatNet Phase-III order for IP routers, and new strategic partnerships with Rakuten Symphony (5G Open RAN), Intel (D2M chipsets), and Lava/HMD (D2M phones). The balance sheet remains stressed with borrowings of INR 3,990 crores, trade receivables of INR 4,453 crores, and cash of just INR 545 crores, though the company also received INR 122 crores in PLI incentives for Q3 FY25.
Near-term sentiment is likely to stay weak given the steep revenue decline and widening losses, but the expected INR 1,500 crore BSNL order and ramp in international partnerships are potential upside catalysts. Investors should monitor BSNL order receipt, receivable collection (targeted mostly within FY26), and any debt reduction given the high leverage of INR 3,990 crores against limited cash.