India · Delayed Price · Currency is INR Tejas Networks Earnings Call Transcripts
Fiscal Year 2026
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Q4 FY26 saw 8% sequential revenue growth but continued net losses, with a strong order book and major investments in new products and international expansion. Management expects improved financials in FY27 as delayed projects convert and receivables are collected.
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Revenue grew 17% sequentially to INR 307 crores, but losses persisted due to high expenses and delayed BSNL orders. International and private sector engagements are increasing, with a positive long-term outlook driven by technology transitions and AI demand.
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Q2 revenue rose 30% QoQ to INR 262 crore, but losses deepened due to INR 190 crore in provisions. Major operational wins include BSNL 4G network deployment and international expansion, with management remaining bullish on long-term growth despite ongoing inventory and receivables challenges.
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Q1 FY26 saw a sharp revenue drop to ₹202 crores and a net loss of ₹194 crores, mainly due to delayed BSNL orders. The order book remains strong at ₹1,241 crores, with a pending ₹1,500 crore BSNL order expected to be executed this year. Management remains optimistic about growth, supported by ongoing R&D and global partnerships.
Fiscal Year 2025
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Achieved record revenue above $1B, driven by BSNL 4G project and strong private sector growth. Inventory and intangible write-downs impacted Q4 profit, but expanded 5G portfolio and global partnerships position the company for future growth.
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Q3 FY2025 saw 4.7x revenue growth year-over-year, major BSNL and Vodafone contracts, and strong international traction. Margins dipped due to product mix, but large pipeline opportunities are expected to convert in Q4 and FY2026, supporting continued R&D and sales expansion.
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Record quarterly revenue and profit driven by BSNL 4G/5G deployments, with a robust order book and strong long-term outlook. International business saw new wins despite softness, and key risks include project-based revenue volatility and supply chain dependencies.
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Q1 FY25 saw record revenue of INR 1,563 crores (8x YoY), driven by BSNL 4G/5G projects and strong India private sector growth. EBITDA margin reached 15%, with a robust order book and significant international wins. Working capital and borrowings rose due to project execution.