Tejas Networks Limited has informed the Exchange about Transcript
TEJASNET · price
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Tejas Networks posted a record FY25 with revenue of INR 8,923 crores (3.6x YoY, crossing $1 billion) and PAT of INR 447 crores, though Q4 PAT was negative INR 72 crores due to a one-time inventory obsolescence and intangible write-down of INR 117 crores (INR 181 crores for the full year). The company completed shipping 100,000 sites for the BSNL 4G project and signed a strategic technology collaboration with NEC Corporation Japan for advanced wireless, RAN, and Core technologies. Order book stood at INR 1,019 crores, and the Board recommended a 25% dividend (INR 2.5/share). Management highlighted an advanced pipeline including BSNL add-on orders, Vodafone Idea expansion, Rail Kavach, and BharatNet opportunities, each ranging from several hundred to several thousand crores. FY26 will look different as the BSNL mega-project concludes, with growth expected to come from the expanded product portfolio and international markets.
Positive long-term as Tejas has built incumbency with BSNL (now eligible for 5G upgrades) and added NEC partnership for global reach, but near-term profitability may stay pressured as FY26 revenue normalises off the high BSNL-driven base. Higher working capital (inventory INR 2,367 crores, receivables INR 4,884 crores) and net debt of INR 2,442 crores remain areas to watch, though PLI incentives (INR 312 crores across FY24-25) and the dividend signal cash generation confidence.