TEJASNET
Tejas Networks Limited
Telecom equipment maker of wireline, 4G/5G RAN and satellite-IoT solutions
Telecommunication›Telecommunication›Telecom - Equipment & Accessories›Telecom - Equipment & Accessories
tejasnetworks.com(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹474.75
Market cap
8,612 Cr
Stock P/E
Loss (TTM EPS ₹-45.91)
P/B
3.41
Dividend yield
0.5%
ROE (FY26)
-31.0%
ROCE (FY26)
-15.1%
Operating margin (FY26)
-98.3%
Debt / equity (FY26)
1.38
OCF / EBITDA (3Y)
-284.2%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
Loading price history…
Compare with peers
Loading peers…
What you need to know
Tejas Networks designs and sells telecom network equipment, including optical transport, broadband access, routing, and 5G radio and core products, to Indian telecom operators such as BSNL and to a growing set of overseas customers.
Company snapshot
3rdBy market cap
Ranked among 9 companies in Telecom - Equipment & Accessories.
What we see
Concerns
- ✗Net margin is negative — the company is spending more than it earns right now.
3 more signals from the filings.Sign in free to see them all
Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 560 Cr | 1,327 Cr | 1,563 Cr | 2,811 Cr | 2,642 Cr | 1,907 Cr | 202 Cr | 262 Cr | 307 Cr | 333 Cr | 402 Cr | 406 Cr |
| Operating expenses (approx.) | 567 Cr | 1,020 Cr | 1,333 Cr | 2,277 Cr | 2,271 Cr | 1,785 Cr | 338 Cr | 556 Cr | 441 Cr | 451 Cr | 503 Cr | 512 Cr |
| EBITDA | -8 Cr | 307 Cr | 230 Cr | 535 Cr | 372 Cr | 122 Cr | -136 Cr | -294 Cr | -134 Cr | -118 Cr | -100 Cr | -107 Cr |
| OPM % | -1.3% | 23.1% | 14.7% | 19.0% | 14.1% | 6.4% | -67.2% | -112.2% | -43.8% | -35.5% | -25.0% | -26.3% |
| Other income | 15 Cr | 12 Cr | 13 Cr | 11 Cr | 14 Cr | 8 Cr | 10 Cr | 6 Cr | 8 Cr | 10 Cr | 9 Cr | 8 Cr |
| Interest | 8 Cr | 28 Cr | 57 Cr | 61 Cr | 63 Cr | 71 Cr | 75 Cr | 84 Cr | 72 Cr | 72 Cr | 85 Cr | 87 Cr |
| Depreciation | 48 Cr | 58 Cr | 65 Cr | 74 Cr | 111 Cr | 103 Cr | 96 Cr | 101 Cr | 104 Cr | 101 Cr | 94 Cr | 91 Cr |
| Profit before tax | -49 Cr | 233 Cr | 122 Cr | 411 Cr | 211 Cr | -45 Cr | -297 Cr | -473 Cr | -303 Cr | -281 Cr | -271 Cr | -277 Cr |
| Tax % | 8.0% | 36.9% | 36.3% | 33.0% | 21.6% | -59.2% | 34.8% | 35.1% | 35.1% | 24.7% | 25.3% | 25.3% |
| Net profit | -45 Cr | 147 Cr | 77 Cr | 275 Cr | 166 Cr | -72 Cr | -194 Cr | -307 Cr | -197 Cr | -211 Cr | -202 Cr | -207 Cr |
| EPS (₹) | ₹-2.64 | ₹8.61 | ₹4.54 | ₹16.06 | ₹9.44 | ₹-4.08 | ₹-10.99 | ₹-17.38 | ₹-11.09 | ₹-11.90 | ₹-11.37 | ₹-11.62 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 933 Cr | 767 Cr | 900 Cr | 391 Cr | 527 Cr | 551 Cr | 920 Cr | 2,471 Cr | 8,923 Cr | 1,103 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 769 Cr | 615 Cr | 704 Cr | 478 Cr | 473 Cr | 631 Cr | 906 Cr | 2,205 Cr | 7,665 Cr | 1,785 Cr | Sign in free for the trailing twelve months |
| EBITDA | 164 Cr | 153 Cr | 196 Cr | -87 Cr | 53 Cr | -80 Cr | 14 Cr | 266 Cr | 1,258 Cr | -682 Cr | Sign in free for the trailing twelve months |
| OPM % | 17.6% | 19.9% | 21.8% | -22.4% | 10.2% | -14.6% | 1.5% | 10.8% | 14.1% | -61.8% | Sign in free for the trailing twelve months |
| Other income | 9 Cr | 28 Cr | 37 Cr | 34 Cr | 25 Cr | 43 Cr | 81 Cr | 65 Cr | 45 Cr | 33 Cr | Sign in free for the trailing twelve months |
| Interest | 32 Cr | 13 Cr | 17 Cr | 8 Cr | 4 Cr | 3 Cr | 15 Cr | 48 Cr | 252 Cr | 303 Cr | Sign in free for the trailing twelve months |
| Depreciation | 56 Cr | 61 Cr | 66 Cr | 77 Cr | 52 Cr | 77 Cr | 123 Cr | 182 Cr | 353 Cr | 403 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 54 Cr | 106 Cr | 150 Cr | -139 Cr | 23 Cr | -117 Cr | -43 Cr | 100 Cr | 698 Cr | -1,354 Cr | Sign in free for the trailing twelve months |
| Tax % | -73.2% | -0.5% | 1.9% | -71.1% | -66.7% | 46.5% | 14.6% | 37.2% | 36.0% | 32.9% | Sign in free for the trailing twelve months |
| Net profit | 93 Cr | 107 Cr | 147 Cr | -237 Cr | 38 Cr | -63 Cr | -36 Cr | 63 Cr | 447 Cr | -909 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹14.09 | ₹12.41 | ₹16.13 | ₹-25.76 | ₹4.05 | ₹-5.97 | ₹-2.46 | ₹3.71 | ₹25.75 | ₹-51.35 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | 0.0% | — | — | 0.0% | 0.0% | — | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 74 Cr | 94 Cr | 95 Cr | 95 Cr | 97 Cr | 118 Cr | 172 Cr | 174 Cr | 180 Cr | 181 Cr |
| Reserves | 519 Cr | 1,058 Cr | 1,225 Cr | 985 Cr | 1,038 Cr | 1,812 Cr | 2,801 Cr | 2,976 Cr | 3,667 Cr | 2,750 Cr |
| Borrowings | 254 Cr | 1 Cr | — | — | — | — | — | 1,744 Cr | 3,269 Cr | 4,035 Cr |
| Other liabilities | 187 Cr | 177 Cr | 265 Cr | 160 Cr | 178 Cr | 180 Cr | 629 Cr | 3,309 Cr | 3,347 Cr | 2,436 Cr |
| Total liabilities | 1,034 Cr | 1,330 Cr | 1,585 Cr | 1,241 Cr | 1,312 Cr | 2,110 Cr | 3,602 Cr | 8,203 Cr | 10,462 Cr | 9,403 Cr |
| Fixed assets (net) | 28 Cr | 36 Cr | 31 Cr | 52 Cr | 46 Cr | 55 Cr | 129 Cr | 209 Cr | 398 Cr | 419 Cr |
| CWIP | — | — | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 15 Cr | 0.80 Cr | 0 Cr |
| Investments | 0 Cr | 77 Cr | 87 Cr | 51 Cr | 37 Cr | 402 Cr | 262 Cr | 334 Cr | 482 Cr | 365 Cr |
| Loans & advances | — | — | 0.95 Cr | 1 Cr | 0.64 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr |
| Inventories | 182 Cr | 191 Cr | 181 Cr | 252 Cr | 214 Cr | 278 Cr | 647 Cr | 3,738 Cr | 2,367 Cr | 2,438 Cr |
| Trade receivables | 383 Cr | 276 Cr | 622 Cr | 376 Cr | 341 Cr | 285 Cr | 499 Cr | 1,410 Cr | 4,444 Cr | 3,256 Cr |
| Cash & bank | 31 Cr | 214 Cr | 17 Cr | 66 Cr | 53 Cr | 48 Cr | 85 Cr | 193 Cr | 332 Cr | 103 Cr |
| Other assets | 411 Cr | 536 Cr | 647 Cr | 443 Cr | 620 Cr | 1,043 Cr | 1,979 Cr | 2,304 Cr | 2,438 Cr | 2,822 Cr |
| Total assets | 1,034 Cr | 1,330 Cr | 1,585 Cr | 1,241 Cr | 1,312 Cr | 2,110 Cr | 3,602 Cr | 8,203 Cr | 10,462 Cr | 9,403 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 150 Cr | 239 Cr | -82 Cr | 0.61 Cr | 158 Cr | -17 Cr | -380 Cr | -2,036 Cr | -491 Cr | 135 Cr |
| Cash from investing | -140 Cr | -213 Cr | -104 Cr | 71 Cr | -167 Cr | -828 Cr | -581 Cr | 431 Cr | -655 Cr | -764 Cr |
| Cash from financing | -28 Cr | 157 Cr | -11 Cr | -22 Cr | -3 Cr | 839 Cr | 999 Cr | 1,713 Cr | 1,286 Cr | 397 Cr |
| Net cash flow | -18 Cr | 183 Cr | -197 Cr | 50 Cr | -13 Cr | -6 Cr | 38 Cr | 107 Cr | 139 Cr | -229 Cr |
| Free cash flow (OCF − Capex) | 98 Cr | 171 Cr | -162 Cr | -92 Cr | 143 Cr | -135 Cr | -629 Cr | -2,445 Cr | -1,143 Cr | -749 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 10.1% | 10.4% | 12.7% | -12.1% | 2.3% | -5.9% | -0.9% | 3.0% | 13.4% | -15.1% |
| ROE % | 15.7% | 9.2% | 11.2% | -21.9% | 3.3% | -3.2% | -1.2% | 2.0% | 11.6% | -31.0% |
| Debtor days | 149 | 131 | 252 | 351 | 236 | 188 | 197 | 208 | 181 | 1074 |
| Inventory days | 129 | 182 | 142 | 452 | 289 | 348 | 441 | 872 | 134 | 1082 |
| Days payable | 76 | 100 | 128 | 134 | 125 | 140 | 205 | 429 | 67 | 212 |
| Cash conversion cycle | 202 | 212 | 266 | 669 | 400 | 397 | 433 | 651 | 248 | 1944 |
| OCF / EBITDA % | 91.4% | 156.7% | -41.6% | — | 294.7% | — | n.m. | -765.8% | -39.1% | — |
| OCF / EBITDA % (3 years) | — | — | 60.0% | 60.6% | 47.3% | — | — | -1220.0% | -189.1% | -284.2% |
| Debt / equity | 0.43 | 0.0009 | — | — | — | 0.00 | 0.00 | 0.55 | 0.85 | 1.38 |
| Current ratio | 1.57 | 5.78 | 4.64 | 6.91 | 6.07 | 10.45 | 6.26 | 1.43 | 1.35 | 1.20 |
| Net debt / EBITDA | 1.36 | -1.39 | -0.09 | — | -1.00 | — | -6.08 | 5.83 | 2.34 | — |