Tejas Networks (TEJASNET) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 revenue reached INR 402 crores, a 21% increase from Q4 FY26, with equal contributions from India and international markets.

• Net loss after tax for the quarter was INR 202.24 crores, improving from INR 211.34 crores in Q4 FY26.

• Order book stood at INR 1,529 crores, with 93% from India and 7% international.

• Achieved first end-to-end 5G network deployment win in South America and expanded international 5G radio shipments.

• Filed 46 new patents in Q1, bringing the global total to 722, with 380 granted.

Financial highlights

• Revenue for Q1 was INR 402 crores, up 21% quarter-on-quarter.

• Profit before tax (PBT) was negative INR 271 crores, and PAT was negative INR 202.24 crores.

• Inventory reduced to INR 2,358 crores, mainly for BSNL 4G order execution.

• Net receivables increased to INR 2,232 crores, impacting working capital.

• Cash and cash equivalents at INR 589 crores, with net borrowings at INR 4,277 crores.

Outlook and guidance

• Awaiting finalization of a major BSNL 4G expansion order for 26,000 sites, expected to clear significant receivables and inventory.

• AMC revenues, expected to be higher margin, will start after site acceptance and warranty period, recognized over eight years.

• Management targets positive EBITDA and EBIT within 12-18 months, driven by business growth and margin improvement.

• Positioned for AI-driven network transformation with investments in 5G Advanced and 6G.

• Consistent revenue growth anticipated from FY 2027 to 2031, supported by new product launches and AI-driven demand.