Telecom - Equipment & Accessories
Valuation | |
|---|---|
| Market Cap | 5.96 kCr |
| Price/Earnings (Trailing) | -7.73 |
| Price/Sales (Trailing) | 2.2 |
| EV/EBITDA | -24.47 |
| Price/Free Cashflow | -12.81 |
| MarketCap/EBT | -5.33 |
| Enterprise Value | 10.06 kCr |
Fundamentals | |
|---|---|
Growth & Returns | |
|---|---|
| Price Change 1W | -1.2% |
| Price Change 1M | -25% |
| Price Change 6M | -39.5% |
| Price Change 1Y | -61.4% |
| 3Y Cumulative Return | -15.3% |
| 5Y Cumulative Return | 15.4% |
| 7Y Cumulative Return | 12.1% |
Cash Flow & Liquidity |
|---|
| Revenue (TTM) |
| 2.71 kCr |
| Rev. Growth (Yr) | -88.2% |
| Earnings (TTM) | -769.35 Cr |
| Earnings Growth (Yr) | -218.6% |
Profitability | |
|---|---|
| Operating Margin | -41% |
| EBT Margin | -41% |
| Return on Equity | -23.16% |
| Return on Assets | -7.79% |
| Free Cashflow Yield | -7.81% |
| Cash Flow from Investing (TTM) | -654.99 Cr |
| Cash Flow from Operations (TTM) | -491.49 Cr |
| Cash Flow from Financing (TTM) | 1.29 kCr |
| Cash & Equivalents | 56.01 Cr |
| Free Cash Flow (TTM) | -815 Cr |
| Free Cash Flow/Share (TTM) | -46.14 |
Balance Sheet | |
|---|---|
| Total Assets | 9.88 kCr |
| Total Liabilities | 6.56 kCr |
| Shareholder Equity | 3.32 kCr |
| Current Assets | 7.5 kCr |
| Current Liabilities | 5.89 kCr |
| Net PPE | 437.7 Cr |
| Inventory | 2.38 kCr |
| Goodwill | 211.81 Cr |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.42 |
| Debt/Equity | 1.25 |
| Interest Coverage | -4.7 |
| Interest/Cashflow Ops | -0.82 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 2.5 |
| Dividend Yield | 0.55% |
| Shares Dilution (1Y) | 3.3% |
| Shares Dilution (3Y) | 16.3% |
Size: Market Cap wise it is among the top 20% companies of india.
Technicals: Bullish SharesGuru indicator.
Balance Sheet: Reasonably good balance sheet.
Past Returns: Underperforming stock! In past three years, the stock has provided -15.3% return compared to 13.2% by NIFTY 50.
Profitability: Poor Profitability. Recent profit margins are negative at -28%.
Dilution: Company has a tendency to dilute it's stock investors.
Momentum: Stock is suffering a negative price momentum. Stock is down -25% in last 30 days.
Smart Money: Smart money looks to be reducing their stake in the stock.
Size: Market Cap wise it is among the top 20% companies of india.
Technicals: Bullish SharesGuru indicator.
Balance Sheet: Reasonably good balance sheet.
Past Returns: Underperforming stock! In past three years, the stock has provided -15.3% return compared to 13.2% by NIFTY 50.
Profitability: Poor Profitability. Recent profit margins are negative at -28%.
Dilution: Company has a tendency to dilute it's stock investors.
Momentum: Stock is suffering a negative price momentum. Stock is down -25% in last 30 days.
Smart Money: Smart money looks to be reducing their stake in the stock.
Investor Care | |
|---|---|
| Dividend Yield | 0.55% |
| Dividend/Share (TTM) | 2.5 |
| Shares Dilution (1Y) | 3.3% |
| Earnings/Share (TTM) | -43.54 |
Financial Health | |
|---|---|
| Current Ratio | 1.27 |
| Debt/Equity | 1.25 |
Technical Indicators | |
|---|---|
| RSI (14d) | 42.43 |
| RSI (5d) | 45.56 |
| RSI (21d) | 29.18 |
| MACD Signal | Buy |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Buy |
| RSI Signal | Hold |
| RSI5 Signal | Hold |
| RSI21 Signal | Buy |
| SMA 5 Signal | Sell |
| SMA 10 Signal |
Summary of Tejas Networks's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
In the Q3 FY26 earnings call, Tejas Networks management outlined a positive long-term outlook driven by several key factors. The company reported a revenue of INR 307 crores, up 17% from the previous quarter's INR 262 crores. Despite a loss of INR 197 crores in profit after tax and negative EBIT of INR 239 crores, the management highlighted the ongoing demand for both their wireless and wireline products, alongside substantial potential in international markets.
Management specified that their order book stood at INR 1,329 crores, with 85% of revenue coming from Indian customers and 15% from international ones. They noted various trials for wireless products were underway, with many progressing to the commercial negotiation stage and expected closures within the coming months.
A significant strategic update was the award of the 5G RAN supply on the Delhi-Mumbai railway corridor under the Kavach project, as well as multiple private 5G deployments in sectors like ports and mining. The pending BSNL 4G expansion order, expected to cover 18,000 sites, was noted to be delayed but still anticipated, suggesting future revenue growth.
Management also reported receiving INR 85 crores as Production-Linked Incentives (PLI) for Q4 FY25, totaling INR 397 crores cumulatively for FY25. Innovations included filing 26 patents in Q3, mainly relating to 5G advanced and 6G technologies, which they see as future growth drivers. Overall, the management expressed optimism regarding business growth opportunities, especially in AI-driven demand for data networks and the maturation of their product lines for international applications.
Understand Tejas Networks ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| Panatone Finvest Limited | 53.46% |
| Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund | 3.79% |
| Tata Communications (Belgium) SRL | 0% |
| TCPoP Communication GmbH | 0% |
| The Switch Enterprises, LLC | 0% |
| Solutions Infini Technologies (India) Private Limited | 0% |
| Commotion Software Solutions India Private Limited |
Detailed comparison of Tejas Networks against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| ITI | ITI (Indian Teleph.Ind.Ltd) | 27.91 kCr | 3.2 kCr | -6.60% | -7.00% | -237.62 | 8.71 | - | - |
| HFCL | HFCL | 10.85 kCr | 3.98 kCr |
Comprehensive comparison against sector averages
TEJASNET metrics compared to Telecom
| Category | TEJASNET | Telecom |
|---|---|---|
| PE | -7.73 | -51.87 |
| PS | 2.20 | 3.48 |
| Growth | -67.7 % | -32.8 % |
Tejas Networks Limited designs, manufactures, and sells wireless and wireline networking products in India and internationally. It offers TJ1400eNodeB ultra flex, that combines fiber broadband, mobile broadband, high-speed Ethernet, and packet optical transport technologies in single platform; TJ1620W, a Macro eNodeB solution; and TJ6003W, a rack mountable server platform. The company also provides TJ1400-1 OLT, a pizza box GPON OLT that provides broadband solutions; TJ1400 OLT, a GPON/XGS-PON solution for FTTH and FTTB services with various end-user ONT devices; and TJ2100N ONT, for optical access networks deployed in fiber-to-the-home and fiber-to-the-building formats. In addition, it offers enterprise ethernet switches, such as TJ1400P-M1 portfolio of Layer2+ switches; TJ1400P M3 and TJ1400P M2 switching products optimized for LAN and metro applications; TJ1400P-4X series access routers; and TJ1400, an aggregation/core service router. Further, the company provides TJ1400, a broadband designed for the delivery of mobile backhaul, broadband access, enterprise, and network modernization; TJ1600, an optical transport platform that enables support of applications and services, including mobile backhaul networks, business connectivity, and broadband and access infrastructure; and TJ1270 MSPP, a multi-service provisioning platform. In addition, it offers TJ1400P for edge and access applications and TJI400PTN for access and aggregation applications. Additionally, it provides TJ1600 Micro-OTN compact platform; TJ1600 OTN/DWDM; TJ1600 Core Switch; and TJ5500 a network management system. It sells its products to telecommunications service providers, internet service providers, web-scale internet companies, utility companies, defense companies, and government entities. The company was formerly known as Tejas Networks India Limited and changed its name to Tejas Networks Limited in March 2008. Tejas Networks Limited was incorporated in 2000 and is headquartered in Bengaluru, India.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
| Buy |
| SMA 20 Signal | Sell |
| SMA 50 Signal | Sell |
| SMA 100 Signal | Sell |
TEJASNET vs Telecom (2021 - 2026)
Question by Rajakumar V.: What is the path to profitability, given the significant losses over the past quarters and years?
Answer by Arnob Roy: Our financials have reflected heavy investments in product development and R&D, particularly for our new wireless products. The path to profitability hinges on scaling these products internationally and domestically. We're shifting towards a growth phase, anticipating that with greater business scale, we can support our investments and become profitable.
Question by Rajakumar V.: Can you indicate a timeline for achieving a positive bottom line?
Answer by Arnob Roy: While ongoing technology investment is crucial, we're optimistic about achieving business growth over time. Though it may take longer than expected, we're committed to transitioning our business model and believe we'll reach profitability eventually.
Question by Rajakumar V.: Why is your inventory substantially higher than orders in hand?
Answer by Arnob Roy: This excess inventory was primarily procured for the BSNL 4G project, which is delayed. Holding this inventory enables us to execute quickly once we receive purchase orders. We expect rapid inventory depletion upon receiving these orders.
Question by Pranav Kshatriya: Given the delays, what are the prospects for non-BSNL business?
Answer by Arnob Roy: Other aspects of our business, particularly wireline sales, are performing well. Although the BSNL project delay affects our current year's growth, we're optimistic about future international wireless engagements as we successfully transition into these markets.
Question by Karan Raja: What is the timeline for appointing a new CEO?
Answer by Arnob Roy: The Board is actively working towards appointing a CEO. While I cannot specify a timeline, business operations continue unaffected in the interim.
Question by Karan Raja: What is causing the delay in the BSNL 4G expansion?
Answer by Arnob Roy: The delay primarily stems from BSNL's operational readiness for network rollout, including site preparation. There are no issues with our products or integration efforts.
Question by Dhruv Shah: Have you considered fundraising given the current EBITDA losses?
Answer by Sumit Dhingra: While the evaluation of our capital structure is ongoing, there's currently no proposal for fundraising being discussed. We are focused on operational optimization rather than immediate fund-raising.
Question by Hirenkumar Thakorlal Desai: What portion of your expenses is related to amortization on R&D capitalization?
Answer by Sumit Dhingra: A significant portion relates to amortization of R&D investments, contributing to our higher depreciation expenses this quarter.
Question by Venkat Suresh Kumar: Is BSNL the anchor customer for Tejas, affecting future profitability?
Answer by Arnob Roy: We consider the BSNL project an anchor project that has helped us mature our products and operations. It's not our sole focus moving forward, as we aim to expand globally, focusing on numerous international opportunities.
This summary reflects the primary questions and answers from the conference call. Each answer provided insight into the company's strategy, performance, and outlook while maintaining the integrity of the financial context shared during the call.
| 0% |
| Kaygee Advertising Private Limited | 0% |
| Sarash Investments Private Limited | 0% |
| Tej Transportation Private Limited | 0% |
| Unnath Advertising Private Limited | 0% |
| Tata Communications Comunicacoes E MultimÃÂdia (Brazil) Limitada | 0% |
Distribution across major stakeholders
Distribution across major institutional holders
| -29.10% |
| 196.97 |
| 2.73 |
| - |
| - |
| VINDHYATEL | Vindhya Telelinks | 1.47 kCr | 3.83 kCr | -10.60% | -25.90% | 6.51 | 0.38 | - | - |
| PARACABLES | Paramount Communications | 1.17 kCr | 1.82 kCr | +1.00% | -44.90% | 16.02 | 0.64 | - | - |
| -16.8% |
| 617 |
| 741 |
| 509 |
| 1,960 |
| 2,445 |
| 2,411 |
| Profit Before exceptional items and Tax | 35.9% | -302.87 | -472.99 | -297.35 | -45.09 | 211 | 411 |
| Total profit before tax | 35.9% | -302.87 | -472.99 | -297.35 | -45.09 | 211 | 411 |
| Current tax | - | -0.01 | 0 | -0.01 | 8.31 | 39 | 75 |
| Deferred tax | 35.7% | -106.31 | -165.86 | -103.47 | 18 | 6.9 | 61 |
| Total tax | 35.7% | -106.32 | -165.86 | -103.48 | 27 | 46 | 135 |
| Total profit (loss) for period | 35.9% | -196.55 | -307.13 | -193.87 | -71.8 | 166 | 275 |
| Other comp. income net of taxes | -144.3% | -0.92 | 5.33 | 4.98 | -10.85 | 2.49 | -0.65 |
| Total Comprehensive Income | 34.5% | -197.47 | -301.8 | -188.89 | -82.65 | 168 | 275 |
| Earnings Per Share, Basic | 34.2% | -11.09 | -17.38 | -10.99 | -4.08 | 9.44 | 16.06 |
| Earnings Per Share, Diluted | 34.2% | -11.09 | -17.38 | -10.99 | -4.08 | 9.22 | 15.75 |
| 52.1% |
| 436 |
| 287 |
| 172 |
| 125 |
| 110 |
| 103 |
| Finance costs | 623.5% | 247 | 35 | 5.2 | 3.03 | 3.58 | 7.57 |
| Depreciation and Amortization | 120% | 353 | 161 | 105 | 77 | 52 | 77 |
| Other expenses | 188.4% | 696 | 242 | 95 | 195 | 93 | 166 |
| Total Expenses | 257.1% | 8,250 | 2,311 | 937 | 711 | 527 | 558 |
| Profit Before exceptional items and Tax | 477.2% | 711 | 124 | 11 | -118.15 | 22 | -137.61 |
| Total profit before tax | 477.2% | 711 | 124 | 11 | -118.15 | 22 | -137.61 |
| Current tax | 595.2% | 147 | 22 | 0 | 0.19 | 0 | 0 |
| Deferred tax | 494.7% | 114 | 20 | 8.25 | -54.61 | -15.02 | 99 |
| Total tax | 534.1% | 261 | 42 | 8.25 | -54.42 | -15.02 | 99 |
| Total profit (loss) for period | 455.6% | 451 | 82 | 3.04 | -63.73 | 37 | -236.16 |
| Other comp. income net of taxes | -177.3% | -12.81 | -3.98 | -2.92 | -2.08 | 2.21 | -1.07 |
| Total Comprehensive Income | 467.5% | 438 | 78 | 0.12 | -65.81 | 40 | -237.23 |
| Earnings Per Share, Basic | 552.5% | 25.99 | 4.83 | 0.2 | -6.07 | 4.03 | -25.66 |
| Earnings Per Share, Diluted | 556.5% | 25.62 | 4.75 | 0.19 | -6.07 | 3.96 | -25.66 |
| -100% |
| 0.6 |
| 0.8 |
| 52 |
| 15 |
| 2.42 |
| 0 |
| Goodwill | 0% | 212 | 212 | 212 | 0 | 0 | 0 |
| Non-current investments | 0% | 18 | 18 | 18 | 295 | 295 | 295 |
| Loans, non-current | - | 0 | 0 | 0 | 0 | 0 | 0 |
| Total non-current financial assets | -50.4% | 236 | 475 | 291 | 352 | 343 | 319 |
| Total non-current assets | 16.2% | 2,400 | 2,066 | 1,779 | 1,330 | 1,160 | 828 |
| Total assets | -5.5% | 9,890 | 10,471 | 10,220 | 8,061 | 4,728 | 3,455 |
| Borrowings, non-current | 294% | 462 | 118 | 0 | 0 | 0 | 0 |
| Total non-current financial liabilities | 141.4% | 590 | 245 | 133 | 133 | 133 | 44 |
| Provisions, non-current | 38.3% | 84 | 61 | 62 | 13 | 1.86 | 2.03 |
| Total non-current liabilities | 74.8% | 674 | 386 | 249 | 146 | 135 | 46 |
| Borrowings, current | 17.2% | 3,694 | 3,151 | 2,768 | 1,744 | 0 | 0 |
| Total current financial liabilities | -7.3% | 4,232 | 4,563 | 4,665 | 3,706 | 756 | 373 |
| Provisions, current | 27.6% | 135 | 106 | 56 | 19 | 16 | 10 |
| Current tax liabilities | -107.1% | 0 | 15 | 38 | 0 | 0 | 0 |
| Total current liabilities | -5.5% | 5,886 | 6,229 | 6,249 | 4,713 | 1,540 | 402 |
| Total liabilities | -0.8% | 6,560 | 6,616 | 6,498 | 4,859 | 1,675 | 448 |
| Equity share capital | 0% | 180 | 180 | 175 | 174 | 173 | 172 |
| Total equity | -13.6% | 3,330 | 3,855 | 3,722 | 3,202 | 3,053 | 3,007 |
| Total equity and liabilities | -5.5% | 9,890 | 10,471 | 10,220 | 8,061 | 4,728 | 3,455 |
| 377.3% |
| 106 |
| 23 |
| -12.71 |
| -29.28 |
| - |
| - |
| Net Cashflows From Operating Activities | 76.3% | -493.32 | -2,088.06 | -369.31 | -18.55 | - | - |
| Cashflows used in obtaining control of subsidiaries | - | 0 | 0 | 284 | 0 | - | - |
| Proceeds from sales of PPE | - | 0.06 | 0 | 0.05 | 0.01 | - | - |
| Purchase of property, plant and equipment | 115.3% | 324 | 151 | 51 | 31 | - | - |
| Purchase of intangible assets | -13.9% | 218 | 253 | 185 | 87 | - | - |
| Purchase of intangible assets under development | - | 110 | 0 | 0 | 0 | - | - |
| Interest received | -93% | 3.92 | 43 | 51 | 24 | - | - |
| Other inflows (outflows) of cash | -101.1% | -7.7 | 810 | -140.22 | -734.57 | - | - |
| Net Cashflows From Investing Activities | -246.1% | -654.99 | 450 | -608.57 | -827.77 | - | - |
| Proceeds from issuing shares | - | 0 | 0 | 1,012 | 500 | - | - |
| Proceeds from issuing other equity instruments | - | 0 | 0 | 0 | 338 | - | - |
| Proceeds from exercise of stock options | -62.7% | 4.36 | 10 | 8.83 | 11 | - | - |
| Proceeds from borrowings | 276.8% | 7,221 | 1,917 | 0 | 0 | - | - |
| Repayments of borrowings | 2901.6% | 5,704 | 191 | 0 | 0 | - | - |
| Payments of lease liabilities | 66.7% | 21 | 13 | 9.85 | 8.34 | - | - |
| Interest paid | 2523.8% | 213 | 9.08 | 0.68 | 0.81 | - | - |
| Other inflows (outflows) of cash | - | -0.58 | 0 | 0 | 0 | - | - |
| Net Cashflows from Financing Activities | -25.1% | 1,286 | 1,716 | 1,011 | 840 | - | - |
| Effect of exchange rate on cash eq. | 6.9% | -0.22 | -0.31 | 0.56 | -0.22 | - | - |
| Net change in cash and cash eq. | 77.9% | 138 | 78 | 33 | -6.94 | - | - |