Tejas Networks Ltd. (TEJASNET) — Tipsheet

Tejas Networks gets BSNL 4G order boost to 26,000 sites

Tipsheet Editorial — Tue, 28 Jul 2026 12:20:39 GMT

Q1 revenue doubles to ₹402 cr as net loss narrows; management expects the expanded BSNL order to close this quarter, offering a path to recovery after a ₹909 cr FY26 loss.

What’s new

BSNL 4G expansion order revised to 26,000 sites from 18,000; expected closure in current quarter.
Q1 FY27 revenue ₹402 cr, nearly double YoY; net loss narrows.
International 5G wins in Europe and South America; wireline traction.

Why it matters

After a revenue collapse and ₹909 cr loss in FY26, the BSNL order expansion and overseas wins offer a recovery catalyst. But net borrowings of ₹4,277 cr and high receivables keep the balance sheet a risk.

What we’re watching

BSNL order closure timeline and revenue recognition.
Receivables clearance and debt reduction.
International 5G revenue ramp in Europe and South America.

The full read

Tejas Networks reported Q1 FY27 revenue of ₹402 crore, nearly double year ago, and a narrower net loss. The bigger news: BSNL's 4G expansion order is now set at 26,000 sites, up from 18,000 earlier, and management expects it to close in the current quarter. That follows the initial 100,000-site rollout completed in FY25, after which the company suffered a ₹909 crore full-year loss in FY26. International 5G wins in Europe and South America and wireline traction offer some offset. But net borrowings of ₹4,277 crore and elevated receivables keep the balance sheet stretched. The order expansion is a near-term catalyst, but given the stretched balance sheet and dependence on a single customer, the company's recovery path remains contingent on closing the BSNL deal and winning more international contracts. That is the test.

Primary source: BSE · NSE

Tejas Networks doubles Q1 revenue, lands first overseas 5G deal

Tipsheet Editorial — Mon, 27 Jul 2026 20:30:11 GMT

Revenue nearly doubled to ₹402 crore on international 5G radio sales and domestic fibre demand. Net loss widened to ₹202 crore. Order book stands at ₹1,529 crore.

What’s new

Revenue doubled to ₹402 crore from ₹202 crore a year earlier.
Secured first commercial end-to-end 5G network contract in South America.
Order book at ₹1,529 crore provides near-term visibility.

Why it matters

The revenue surge signals a recovery in business momentum, driven by international 5G radio sales and domestic fibre demand. However, the net loss of ₹202 crore and net debt of ₹4,277 crore show continued R&D intensity and finance costs. The South America 5G win is a strategic milestone, but profitability remains elusive.

What we’re watching

Execution and ramp-up of the South America 5G contract.
Trend in net debt and finance costs ahead.
Sustained domestic fibre broadband demand.

The full read

Tejas Networks' Q1 FY27 numbers tell a story of top-line recovery and continued bottom-line strain. Revenue nearly doubled to ₹402 crore from ₹202 crore a year ago, powered by international 5G radio sales and domestic fibre demand. The company also bagged its first commercial end-to-end 5G network contract in South America — a strategic milestone that opens a new geography. But the net loss edged up to ₹202 crore, reflecting high R&D spend and finance costs on a ₹4,277 crore net debt pile. The order book of ₹1,529 crore provides near-term visibility. The 5G win is the headline, but the cash burn is the undertow. Execution on that contract and debt trajectory will determine whether this is a genuine revival or a costly growth spurt.

Primary source: BSE · NSE

Tejas Networks doubles Q1 revenue, net loss narrows sequentially

Tipsheet Editorial — Mon, 27 Jul 2026 18:09:35 GMT

Revenue nearly doubled YoY to ₹402 cr; net loss at ₹202 cr improves from last quarter but remains elevated as finance costs and provisions weigh.

What’s new

Revenue jumped 99% YoY to ₹402 cr, driven by project deliveries.
Net loss of ₹202 cr narrowed from ₹218 cr in Q4, but widened from ₹194 cr a year ago.
Provisions for warranty and inventory obsolescence continued; finance costs stayed elevated.

Why it matters

Revenue growth signals recovery after the BSNL 4G project, but profitability remains distant. Elevated costs and provisions suggest a transition phase. The open question is whether the order book can convert into profitable revenue while working capital stays stretched.

What we’re watching

Whether revenue growth sustains in coming quarters.
How long elevated finance costs and provisions persist.
Any signs of working capital improvement or order book conversion.

The full read

Tejas Networks nearly doubled its quarterly revenue to ₹402 crore in Q1 FY27, while the net loss narrowed sequentially to ₹202 crore from ₹218 crore in Q4. The board approved the results on July 27. Revenue grew 21% sequentially and 99% year-on-year, reflecting a modest recovery after the BSNL 4G project. However, the company continues to book provisions for warranty expenses and inventory obsolescence, and finance costs and depreciation remain elevated, keeping the bottom line in the red. The quarterly performance is broadly in line with expectations and does not materially alter the investment thesis. The core challenge remains converting the order book into profitable revenue while managing stretched working capital.

Primary source: BSE · NSE