Tejas Networks (TEJASNET) Q4 24/25 earnings summary

Executive summary

• Achieved record annual revenue for FY25, surpassing ₹8,923.21 crore, and celebrated its 25th anniversary.

• Net profit after tax for FY25 was ₹446.53 crore, a substantial increase from the previous year.

• Successfully shipped over 100,000 sites for the BSNL 4G project, marking one of the largest single-vendor RAN deployments globally.

• Entered a strategic technology collaboration with NEC for advanced wireless and 5G technologies.

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

Financial highlights

• FY25 revenue: ₹8,923.21 crore (3.6x year-over-year), EBIT: ₹905 crore, PAT: ₹446.53 crore.

• Q4FY25 revenue: ₹1,907 crore, up 1.4x year-over-year; Q4 PAT: negative ₹72 crore due to inventory and intangible write-downs.

• Inventory obsolescence/write-downs: ₹180.59 crore for FY25, with ₹117 crore in Q4.

• Recognized PLI incentives of ₹467.70 crore for FY25.

• Cash at quarter end: ₹827 crore; borrowings increased to ₹3,150.90 crore as of March 31, 2025.

Outlook and guidance

• FY26 expected to have a different revenue profile due to the completion of the large BSNL 4G project.

• Expanded product portfolio, especially in 5G, positions the company for global growth.

• Significant business pipeline in both government and private sectors, with several large opportunities in advanced stages.

• No specific revenue guidance provided, but management remains positive about FY26 prospects.

• Company expects to receive the remaining PLI grant amount of ₹278.78 crore, with reasonable assurance of compliance.