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 FY25 revenue of INR 8,923 crores (3.6x YoY), driven by BSNL 4G/5G project and global expansion. Significant one-time write-downs impacted Q4 profit, but a strong pipeline and expanded product portfolio support a positive FY26 outlook.
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Q3 FY2025 saw revenues of INR 2,642 crores, up 4.7x year-over-year, with major contract wins and strong execution in BSNL's 4G/5G rollout. Margins dipped due to product mix, but significant opportunities in India and abroad are expected to drive FY2026 growth.
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Record quarterly revenue and profit driven by BSNL 4G/5G shipments and strong execution. Order book remains robust, with large domestic and international opportunities targeted, though business remains project-driven and subject to volatility.
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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.