Tejas Networks (TEJASNET) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 revenue was ₹405.68 crore versus ₹261.82 crore YoY; consolidated net loss narrowed to ₹206.94 crore from ₹307.13 crore.

• Closing order book reached ₹2,315 crore, up from ₹1,529 crore at Q1 FY27-end; India accounted for 96% and international markets 4%.

• Initial shipments began for BSNL’s 18,685-site 4G expansion and an end-to-end 5G deployment for a South American customer.

Financial highlights

• Q2 revenue from operations was ₹405.68 crore versus ₹261.82 crore in Q2 FY26; H1 revenue was ₹807.84 crore versus ₹463.80 crore.

• Q2 EBITDA loss narrowed to ₹108 crore from ₹293 crore in Q2 FY26; H1 EBITDA loss was ₹429 crore versus ₹626 crore.

• Q2 EBIT loss was ₹199 crore and PBT loss ₹276.88 crore, versus ₹394 crore and ₹472.99 crore in Q2 FY26, respectively.

• H1 consolidated net loss was ₹409.18 crore versus ₹501.00 crore in H1 FY26.

Outlook and guidance

• Management expects quarterly positive EBITDA and describes a visible path to profitability in the coming years; no specific earnings targets were given.

• BSNL order execution is expected to reduce inventory and gross debt; priorities include timely delivery, increasing collections and bringing inventory in line with quarterly business.

• Management expects significant BSNL milestone collections in the current quarter; most of the announced ₹1,500 crore order was expected to enter the order book as purchase orders arrive.

• Product priorities include expanded 5G radio bands, 5G-Advanced and 6G, AI-based network management, and high-capacity wireline products.