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Tejas Networks Wins Contract with NEC Corp for 5G Massive MIMO Radios
Tejas Networks has signed a strategic agreement with NEC Corporation to manufacture and supply 5G massive MIMO radios. The deal involves high-capacity 32TR and 64TR radios that comply with both 3GPP and O-RAN global standards. This partnership is a significant milestone for Tejas as it seeks to expand its international business and diversify global supply chains for 5G infrastructure. Being a Tata Group company, this collaboration enhances its credibility in the global telecom equipment market.
Key Highlights
Agreement signed with NEC Corporation for manufacturing and supply of 5G massive MIMO radios.
Product portfolio includes high-capacity 32TR and 64TR radios meeting O-RAN standards.
Strategic focus on international expansion across emerging and established 4G/5G markets.
Collaboration aims to build a resilient and flexible globalized ecosystem for 5G-Advanced solutions.
💼 Action for Investors
Investors should view this as a strong validation of Tejas's indigenous 5G technology stack and its ability to compete globally. Monitor for future disclosures regarding the specific order value and execution timelines to estimate revenue impact.
Tejas Networks Receives ₹69.97 Crore PLI Incentive for FY 2024-25
Tejas Networks has received a sum of ₹69.9658 crore from the Department of Telecommunications under the Production Linked Incentive (PLI) Scheme for Telecom and Networking Products. This payment represents the balance 15% of the eligible incentive for the financial year 2024-2025. The receipt of these funds is a positive development for the company's cash flow and confirms its successful adherence to the government's manufacturing targets. This disbursement validates the company's operational scale-up under the 'Make in India' initiative.
Key Highlights
Received ₹69.9658 crore incentive from the Ministry of Communications.
The amount covers the balance 15% of the total eligible incentive for FY 2024-2025.
Incentive granted under the PLI Scheme for Telecom and Networking Products.
Strengthens the company's liquidity position and validates its manufacturing capabilities.
💼 Action for Investors
Investors should view this as a positive confirmation of the company's execution capabilities and government support. The focus remains on the company's ability to convert its strong order book into revenue while benefiting from such fiscal incentives.
Tejas Networks Q3 FY26: Revenue up 17% to ₹307 Cr; Net Loss at ₹197 Cr amid BSNL Order Delays
Tejas Networks reported Q3 FY26 revenue of ₹307 crores, a 17% sequential increase, but continues to face profitability challenges with a net loss of ₹197 crores. The order book stands at ₹1,329 crores, yet the company is burdened by high inventory of ₹2,363 crores due to delays in the BSNL 4G expansion project. While international business contributed 15% to revenue and new wins were recorded in Africa and Southeast Asia, net debt remains high at ₹3,349 crores. Management maintains a positive long-term outlook based on 5G RAN trials and BharatNet wins, though the path to a positive bottom line remains uncertain.
Key Highlights
Revenue grew 17% QoQ to ₹307 crores, primarily driven by Indian private operators and international wireline sales.
Reported a net loss of ₹197 crores and negative EBIT of ₹239 crores, impacted by R&D and labor code provisions.
Inventory levels reached ₹2,363 crores, nearly double the current order book of ₹1,329 crores, due to BSNL project delays.
Net debt stood at ₹3,349 crores, though trade receivables improved to ₹3,284 crores from ₹4,026 crores.
Successfully claimed ₹397 crores in cumulative PLI incentives for FY25, providing some liquidity support.
💼 Action for Investors
Investors should exercise caution due to the high working capital intensity and persistent losses. The stock's performance is heavily tied to the timely execution of the BSNL 4G expansion and scaling of international wireless orders.
Tejas Networks Announces Q3 FY26 Unaudited Financial Results
Tejas Networks Limited has officially released its unaudited financial results for the third quarter and nine-month period ending December 31, 2025. The announcement was made following a board meeting on January 9, 2026, to review the company's fiscal performance. As the company is a key beneficiary of the 'Make in India' initiative in telecom, these results are critical for assessing its execution on large-scale domestic contracts. Investors should look for the detailed financial statement to evaluate revenue growth and margin expansion.
Key Highlights
Board approved unaudited financial results for the quarter ended December 31, 2025
Results cover the cumulative nine-month performance for the 2025-2026 fiscal year
Official press release and financial disclosures submitted to NSE and BSE on January 09, 2026
Reporting period marks a significant milestone for tracking the company's mid-year growth trajectory
💼 Action for Investors
Investors should review the detailed profit and loss statements for signs of improved operating leverage and order book execution. Monitor the stock for price volatility as the market reacts to the specific revenue and PAT figures disclosed in the full report.
Tejas Networks Q3 FY26: Revenue Grows 17% QoQ to ₹307 Cr, Net Loss Narrows to ₹197 Cr
Tejas Networks reported a sequential revenue growth of 17% to ₹307 crore in Q3 FY26, while its net loss narrowed to ₹197 crore from ₹307 crore in Q2. The order book grew to ₹1,329 crore, though the company noted a delay in receiving a significant ₹1,526 crore BSNL 4G add-on order. A positive development was the reduction in trade receivables by ₹742 crore, which helped lower the net debt to ₹3,349 crore. The company continues to see traction in Bharatnet Phase-III, winning 7 out of 12 packages announced so far.
Key Highlights
Revenue from operations increased 17% QoQ to ₹307 crore, driven by wireline sales in India and international markets.
Net loss narrowed to ₹197 crore, including provisions of ₹24.35 crore for warranties and ₹9.85 crore for labor code-related gratuity.
Order book stands at ₹1,329 crore as of Dec 31, 2025, with a 92% concentration in the Indian market.
Trade receivables improved significantly, dropping to ₹3,284 crore from ₹4,026 crore in the previous quarter.
Received ₹84.95 crore in PLI incentives for Q4-FY25, bringing cumulative PLI receipts to ₹397 crore for FY25.
💼 Action for Investors
Investors should track the execution of the high inventory levels (₹2,363 Cr) and the timing of the delayed ₹1,526 Cr BSNL order which are critical for future revenue. While narrowing losses and debt reduction are positive, the company's ability to reach break-even remains the primary concern.
Tejas Networks Reports Q3 FY26 Net Loss of ₹197 Crore as Revenue Plunges 88% YoY
Tejas Networks reported a severe downturn in its Q3 FY26 financial performance, with standalone revenue collapsing to ₹305.72 crore from ₹2,642.05 crore in the same period last year. The company swung to a net loss of ₹196.89 crore, compared to a profit of ₹165.42 crore in Q3 FY25. For the nine-month period ended December 2025, the company recorded a total loss of ₹697.97 crore, a sharp reversal from the ₹512.67 crore profit in the previous year. High fixed costs, including ₹104.45 crore in depreciation and ₹71.65 crore in finance costs, significantly impacted the bottom line amidst the revenue shortfall.
Key Highlights
Standalone revenue for Q3 FY26 plummeted 88.4% YoY to ₹305.72 crore from ₹2,642.05 crore.
Reported a net loss of ₹196.89 crore for the quarter versus a profit of ₹165.42 crore in the year-ago period.
Nine-month (9M FY26) revenue stands at ₹769.02 crore, down from ₹7,014.22 crore in 9M FY25.
Finance costs remained elevated at ₹71.65 crore for the quarter, while depreciation was ₹104.45 crore.
Recognized a one-time employee benefit provision of ₹9.85 crore due to the notification of new Labour Codes.
💼 Action for Investors
Investors should exercise extreme caution given the massive contraction in revenue and the shift to significant losses. It is critical to wait for management's explanation regarding the revenue drop and the status of large-scale project executions.
Tejas Networks Assigned [ICRA]A1+ Rating for ₹500 Crore Commercial Paper Programme
ICRA Limited has assigned a top-tier [ICRA]A1+ rating to Tejas Networks' new Commercial Paper programme worth ₹500 crore. This rating represents the highest level of safety for short-term financial obligations, indicating very low credit risk. The move allows the company to diversify its funding sources and potentially lower its interest costs for working capital. This development underscores the company's strong financial position and credit profile in the eyes of rating agencies.
Key Highlights
ICRA assigned a new [ICRA]A1+ rating for a ₹500 crore Commercial Paper programme.
The [ICRA]A1+ rating is the highest possible grade for short-term debt instruments in India.
The rating provides the company with enhanced financial flexibility to raise short-term funds at competitive rates.
The assigned rating is valid for a maximum maturity period of 12 months from the date of issuance.
💼 Action for Investors
The highest short-term rating confirms strong liquidity and credit quality. Investors should view this as a validation of the company's balance sheet strength and financial stability.
Tejas Networks: Leading IP Routing Supplier for BharatNet Phase III
Tejas Networks has been awarded IP Routing equipment purchase contracts for 7 of the 12 BharatNet Phase-III packages, making it the largest supplier by the number of packages. The company will deploy its TJ1400 family of routers in 9 states and 5 union territories. Over 50,000 TJ1400 routers will be deployed across 57,000 Gram Panchayats and 2000 Blocks. This positions Tejas Networks as a key player in India's digital transformation.
Key Highlights
Awarded IP Routing contracts for 7 out of 12 BharatNet Phase-III packages.
Deployment of over 50,000 TJ1400 routers.
Routers to be deployed across 57,000 GPs (Gram Panchayats).
Deployment in 9 states and 5 union territories.
💼 Action for Investors
Investors should monitor the progress of the BharatNet Phase III deployment and its impact on Tejas Networks' revenue and profitability. Keep an eye on future contract wins and the company's ability to maintain its leading position.