Risk Intelligence
BSNL add-on order delay
View Risks →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.
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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.
BSNL add-on order delay
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Read Transcript →Order book grew from ₹19 crore in Q4 FY25 to ₹1,514 crore, driven by wireline and wireless wins.
India continued to dominate revenue, with international contribution remaining low.
Cumulative patents reached 676, with 371 granted, supporting long-term IP strategy.
Headcount remained stable at ~2,300, indicating cost control despite revenue decline.
Management expects improved financial performance in FY27 due to stronger business outlook and cost optimization.
The anticipated BSNL add-on PO for 18,000 sites remains undecided, causing inventory buildup and cash flow strain.
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