Tejas Networks LimitedQ1FY27 Results & Financial Update
Tejas Networks Limited: Q1FY27 consolidated results and company financials – revenue ₹402.16 Cr, PAT ₹-202.24 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceReported figures and period changes.Changes compare like-for-like reported periods where available.
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Quarterly Results AnalysisExplore Tejas Networks Q1FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Tejas Networks reported consolidated net revenue of INR 402.16 crore for the quarter ended June 30, 2026, marking a 20.88% sequential expansion over the preceding quarter and a substantial increase compared to the same period in the previous year.
Top-line growth was primarily driven by international shipments of 5G radios alongside domestic deliveries of 100G/400G optical and FTTx products.
Despite top-line improvements, the company posted a consolidated loss after tax of INR 202.24 crore for Q1 FY27, reflecting ongoing operating cost structures, finance expenses, and depreciation charges.
Geographically, the revenue mix for the quarter split evenly with 50% derived from domestic markets and 50% from international regions, excluding other operating revenues.
The company closed the quarter with an order book of INR 1,529 crore, where domestic orders accounted for 93% and international commitments represented 7%.
Inventories stood at INR 2,358 crore at the end of June 2026, which management noted will be heavily utilized in executing forthcoming BSNL 4G add-on orders.
Net working capital climbed due to increases in net trade receivables—which reached INR 2,232 crore net of customer advances—and scheduled financial payouts.
The company's cash and cash equivalents improved to INR 589 crore, while gross debt stood at INR 4,866 crore, resulting in a net debt figure of INR 4,277 crore.
01 · Business model
What does Tejas Networks do?
Tejas Networks Limited designs, develops, manufactures, and sells high-performance wireline and wireless networking products used to construct high-speed communication networks globally.
The company serves telecommunications service providers, internet service providers, utilities, defense organizations, and government entities across more than 75 countries.
Tejas operates as a subsidiary of the Tata Group, with Panatone Finvest Ltd. (a subsidiary of Tata Sons Pvt. Ltd.) holding the majority stake.
The company's product portfolio spans wireless infrastructure such as 5G radios, massive MIMO units, and FTTx broadband solutions, alongside wireline optical transmission, DWDM systems, and data center interconnect equipment.
02 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Q1FY27 | Year-ago | Previous quarter |
|---|---|---|---|
| Revenue from operations | ₹402.16 Cr | ₹201.98 Cr | ₹332.69 Cr |
| Total income | ₹411.13 Cr | ₹211.53 Cr | ₹342.97 Cr |
| Profit before tax | ₹-270.81 Cr | ₹-297.35 Cr | ₹-280.80 Cr |
| Profit after tax | ₹-202.24 Cr | ₹-193.87 Cr | ₹-211.34 Cr |
| EPS | ₹-11.37 | ₹-10.99 | ₹-11.90 |
Financial interpretation
What the reported numbers mean
Profit after tax represented -50.3% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to -67.3% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹8.97 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
03 · Why it moved
Why the quarter looked the way it did
What drove revenue
Growth was supported by demand for fiber broadband, packet, and optical transmission products from leading carriers and power utilities in India and international markets.
What drove margins
The company incurred finance costs of INR 85.07 crore and depreciation/amortization expenses of INR 94.35 crore during Q1 FY27.
Material costs included inventory write-downs and obsolescence provisions of INR 3.10 crore, while other expenses included warranty provisions of INR 35.11 crore based on potential fault rates.
04 · Demand, customers & order book
Where demand is coming from
The company ended Q1 FY27 with a total order book of INR 1,529 crore, with India accounting for 93% and international markets representing 7%.
Supplied GPON OLTs to Tier-1 Indian telcos for countrywide rollouts and was selected as a vendor for communication network modernization by a large power utility.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company identifies telecom and data networking-related products and services as its single reportable operating segment under Ind AS 108.
Geography and market mix
Secured a commercial win to deliver an end-to-end 5G network for an operator in South America, marking a significant milestone for international footprint expansion.
Won an expansion order for 100G+ Coherent DWDM equipment from a leading bandwidth wholesaler in Africa.
06 · Strategy & new businesses
How the company is trying to change its growth mix
Selected by a global Tier-1 telco for a joint research and development project in 5G technology.
Signed Memorandums of Understanding with IIT Gandhinagar and MahaIT to catalyze and nurture a local innovation ecosystem in next-generation telecom.
07 · Reported developments
What changed operationally
The TJ1600-D3 DCI product was selected as a global finalist (Top-3) at the prestigious 2026 Leading Lights awards, and the company won the BCIC award for Manufacturing Excellence.
Filed 46 patents during Q1 FY27, bringing the cumulative global patent filing count to 722, of which 380 have been granted.
08 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Net working capital increased to INR 4,478 crore, driven by an increase in net trade receivables (INR 2,232 crore net of customer advances) and scheduled payouts.
Inventory stood at INR 2,358 crore, with management indicating that a significant portion will be deployed toward executing BSNL 4G add-on orders.
Capital allocation & funding
The company closed the quarter with a cash position of INR 589 crore, gross debt of INR 4,866 crore, and net debt of INR 4,277 crore.
09 · Beyond the numbers
What changed beyond the numbers
Reported update
BSNL 4G Network Execution
The company is awaiting an expansion order for 26,000 additional 4G sites featuring Tejas RAN products on BSNL's pan-India network against a Letter of Intent received earlier.
Reported update
D2M Trial Completion
Successfully completed field and lab trials demonstrating the coexistence of Direct-to-Mobile (D2M) broadcasting with cellular (LTE/NR) networks according to terms of reference established by an inter-ministerial committee.
10 · Previous-quarter changes
What changed since the previous quarter
Net revenue increased by 20.88% sequentially from INR 332.69 crore in Q4 FY26 to INR 402.16 crore in Q1 FY27, while quarterly PAT moved from INR -211.34 crore to INR -202.24 crore.
11 · Key Q&A
The quarter, answered directly
What does Tejas Networks do?
Tejas Networks Limited designs, develops, manufactures, and sells high-performance wireline and wireless networking products used to construct high-speed communication networks globally.
What is the clearest takeaway from Q1FY27?
Tejas Networks reported consolidated net revenue of INR 402.16 crore for the quarter ended June 30, 2026, marking a 20.88% sequential expansion over the preceding quarter and a substantial increase compared to the same period in the previous year.
What drove revenue or demand?
Growth was supported by demand for fiber broadband, packet, and optical transmission products from leading carriers and power utilities in India and international markets.
What mattered most for margins or profitability?
The company incurred finance costs of INR 85.07 crore and depreciation/amortization expenses of INR 94.35 crore during Q1 FY27.
What changed operationally beyond the headline numbers?
Selected by a global Tier-1 telco for a joint research and development project in 5G technology.
What should the next disclosure help confirm?
Monitor the conversion of the BSNL Letter of Intent into formal purchase orders and the subsequent deployment of RAN equipment across the 26,000 additional sites.
12 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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13 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
BSNL 4G Order Execution: Monitor the conversion of the BSNL Letter of Intent into formal purchase orders and the subsequent deployment of RAN equipment across the 26,000 additional sites.
- 02
Working Capital and Receivables Recovery: Track the collection efficiency of net trade receivables, which stood at INR 2,232 crore, to observe working capital normalization.
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