Read the quarter in context.
A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
ConCallIQ research layer
Signal, with the source still visible.
Use the controls below to narrow the view, then follow the evidence into the next layer of context.
Revenue
₹333 Cr
verified against source
Revenue YoY
—
reported change
EBITDA
₹-219 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Tejas Networks reported Q4 FY26 revenue of ₹333 crore, up 8% QoQ, but continued to post heavy losses with EBITDA of -₹219 crore and PAT of -₹211 crore. Full-year revenue was ₹1,113 crore with a net loss of ₹909 crore. The year was marked by transition post the large BSNL project, with several planned deals delayed, leading to a revenue shortfall. Management maintained R&D investments, resulting in a strong order book of ₹1,514 crore (excluding BSNL). Key wins include a 5G massive MIMO supply deal with NEC and initial 4G expansion orders in South Asia. Guidance is absent, but management expects better financial results in FY27. Risk: BSNL add-on order remains delayed, straining balance sheet with high receivables and inventory.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects improved financial performance in FY27 due to stronger business outlook and cost optimization.
- Active discussions with BSNL for additional 18,000 sites; inventory ready for quick delivery once PO received.
- First PO from NEC is part of current order book; follow-on orders expected as rollout progresses.
Risks flagged
- The anticipated BSNL add-on PO for 18,000 sites remains undecided, causing inventory buildup and cash flow strain.
- Receivables of ₹3,258 crore and inventory of ₹2,438 crore are straining the balance sheet; collection from BSNL is key.
- Rising memory costs could pressure margins, though management says it's a small component and is renegotiating prices.
- International wireless wins are still early-stage; management declined to quantify the funnel or expected order size.
Key quotes
- We had a net pack loss of 211 crores in Q4 as opposed to 197 crores of pack loss in Q3 and for the entire year we had a pack loss of 99 crores.
- We are well positioned for long-term success. From an industry point of view we see AI that will drive a lot of demand for network buildown and as a result for our equipment as well.
- We are not in a position to give any new guidance. However, as I said, we have a stronger business outlook.
Research modules