BSNL add-on order delay
The anticipated BSNL add-on PO for 18,000 sites remains undecided, causing inventory buildup and cash flow strain.
TEJASNETWORKS / bear-case history
Track the concerns that keep returning.
Tejas Networks · risk themes across the available quarters.
Research layer active
Bear-case history
Risks carried through the record.
high
High receivables and inventory
Receivables of ₹3,258 crore and inventory of ₹2,438 crore are straining the balance sheet; collection from BSNL is key.
Memory price inflation
Rising memory costs could pressure margins, though management says it's a small component and is renegotiating prices.
International wireless scale uncertainty
International wireless wins are still early-stage; management declined to quantify the funnel or expected order size.