Tejas Networks (TEJASNET) Q4 24/25 earnings summary

Executive summary

• Achieved record FY25 revenue of INR 8,923 crores (3.6x YoY), celebrating the 25th anniversary and marking one of the largest single-vendor RAN deployments globally with over 100,000 BSNL 4G/5G sites shipped.

• Signed a strategic technology collaboration with NEC for advanced wireless and 5G technologies, expanding global reach and joint go-to-market opportunities.

• Board recommended a 25% dividend (INR 2.5/share), subject to shareholder approval.

• Won the Best Mobile Technology Breakthrough Award from ET Telecom.

• Completed the amalgamation of Saankhya Labs and Saankhya Strategic Electronics, effective April 1, 2023.

Financial highlights

• Q4 FY25 revenue: INR 1,907 crores, up 1.4x YoY; FY25 revenue: INR 8,923 crores (3.6x YoY); EBIT: INR 905 crores; PAT: INR 447 crores.

• Q4 EBIT: INR 18 crores; Q4 PBT: INR -45 crores; Q4 PAT: INR -72 crores, impacted by INR 117 crores inventory obsolescence/write-down.

• FY25 PBT: INR 698 crores; EPS (basic/diluted): INR 25.75/25.38.

• Year-end order book: INR 1,019 crores; cash: INR 827 crores; borrowings: INR 3,269 crores; net debt: ~INR 2,300 crores.

• Recognized PLI incentives of INR 467.7 crores for FY25.

Outlook and guidance

• FY26 expected to have a different revenue profile post-BSNL project, but management remains positive due to expanded product portfolio and strong pipeline.

• Large government and private sector projects in advanced stages; significant opportunities in India and international markets.

• Most new opportunities expected to close and execute within FY26, with some spillover into FY27.

• Company expects to receive remaining PLI grant amount of INR 278.78 crores, with reasonable assurance of compliance.