Tejas Networks Limited
NSE: TEJASNET · Telecom - Equipment & Accessories · sector
₹404.15NSE close 2026-10-26
Key numbers
Market cap₹7,332 cr
Price₹404.15
52w high / low₹645 / ₹294
P/E–Sector median 48.8x
P/B2.9xSector median 7.9x
Book value₹139.3
Dividend yield0.60%Sector median 0.25%
ROE-27.9%Sector median 13.2%
ROCE-11.1%Sector median 13.8%
OPM-31.8%Sector median 12.0%
Debt / equity1.91xSector median 0.40x
EV/EBITDA–Sector median 33.9x
Interest cover-2.6x
Current ratio1.22x
Sales growth 3y+6.3%Sector median +13.3%
Profit growth 3y–Sector median +16.4%
PEG–
Last 12 months to Sep 2026, Consolidated. "Sector median" = middle value of 11 companies in Telecom - Equipment & Accessories (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹505 cr vs borrowings ₹4,035 cr (FY26): borrowings are higher by ₹3,531 cr.
- Operating profit covered interest -2.6x in the last 12 months.
- Operating cash flow was below net profit in 3 of the last 5 years (FY25, FY24, FY23).
- Net loss in 7 of the last 8 quarters.
- Revenue was higher than a year earlier in 2 of the last 4 quarters.
- Debtor days went from 208 (FY24) to 1,077 (FY26).
- Dividend paid in 1 of the last 5 financial years.
- Price ₹404.15 on 2026-10-26: -37.3% from the 52-week high, +37.5% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹1,341.70 · low ₹323.10
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,642 | 1,907 | 202 | 262 | 307 | 333 | 402 | 406 |
| EBITDA | 372 | 122 | -136 | -294 | -134 | -118 | -100 | -107 |
| OPM % | 14.1% | 6.4% | -67.2% | -112.2% | -43.8% | -35.5% | -25.0% | -26.3% |
| Other income | 14 | 8 | 10 | 6 | 8 | 10 | 9 | 8 |
| Net profit | 166 | -72 | -194 | -307 | -197 | -211 | -202 | -207 |
| EPS (₹) | 9.44 | -4.08 | -10.99 | -17.38 | -11.09 | -11.90 | -11.37 | -11.62 |
| Revenue YoY | -88.4% | -82.6% | +99.1% | +54.9% | ||||
| Profit YoY | -218.6% | – | – | – |
Consolidated figures where filed. Latest quarter Sep 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 551 | 920 | 2,471 | 8,923 | 1,103 | 1,447 |
| EBITDA | -80 | 14 | 266 | 1,258 | -682 | -459 |
| Net profit | -63 | -36 | 63 | 447 | -909 | -817 |
| EPS (₹) | -5.97 | -2.46 | 3.71 | 25.75 | -51.35 | -45.98 |
| Revenue growth | +67.0% | +168.7% | +261.1% | -87.6% | -71.1% | |
| Profit growth | – | – | +609.0% | -303.5% | – | |
| Dividend / share (₹) | – | – | – | – | 2.50 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +6.3% | +15.9% | -71.1% |
| Net profit | – | – | – |
| EPS | – | – | – |
| Share price | – | -43.1% (2y) | -22.2% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 2,973 | 3,149 | 3,846 | 2,931 |
| Borrowings | – | 0 | 1,744 | 3,269 | 4,035 |
| Cash & equivalents | – | 1,004 | 636 | 822 | 505 |
| Total assets | – | 3,602 | 8,203 | 10,462 | 9,403 |
| Fixed assets | – | 129 | 209 | 398 | 419 |
| Capital work in progress | – | 0 | 15 | 1 | 0 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 499 | 1,410 | 4,444 | 3,256 |
| Inventory | – | 647 | 3,738 | 2,367 | 2,438 |
| Payables | – | 301 | 1,839 | 1,184 | 478 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | -17 | -380 | -2,036 | -491 | 135 |
| Cash from investing | -828 | -581 | 431 | -655 | -764 |
| Cash from financing | 839 | 999 | 1,713 | 1,286 | 397 |
| Capex | 117 | 249 | 408 | 651 | 884 |
| Free cash flow | -135 | -629 | -2,445 | -1,143 | -749 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | -1.2% | 2.0% | 11.6% | -31.0% |
| ROCE % | – | -0.9% | 3.0% | 13.4% | -15.1% |
| Debtor days | – | 198 | 208 | 182 | 1,077 |
| Inventory days | – | 421 | 861 | 132 | 1,160 |
| Payable days | – | 196 | 424 | 66 | 227 |
| Cash conversion cycle (days) | – | 423 | 645 | 248 | 2,010 |
| Working capital days | – | 889 | 300 | 89 | 378 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 53.28% |
| FIIs | 6.63% |
| DIIs | 4.00% |
| of which Mutual funds | 3.11% |
| of which Insurance | 0.02% |
| Public (non-institutions) | 35.99% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 54.01% | 53.83% | 53.73% | 53.66% | 53.46% | 53.40% | 53.33% | 53.28% |
| Promoter group | % |
|---|---|
| Panatone Finvest Limited | 53.28% |
| Tata Sons Private Limited | 0.00% |
| Akashastha Technologies Private Limited | 0.00% |
| Tata Communications Limited | 0.00% |
| Tata Communications Transformation Services Limited | 0.00% |
| Tata Communications Collaboration Services Private Limited | 0.00% |
| Solutions Infini Technologies (India) Private Limited | 0.00% |
| Novamesh Limited | 0.00% |
| Commotion Software Solutions India Private Limited | 0.00% |
| Kaygee Advertising Private Limited | 0.00% |
| Sarash Investments Private Limited | 0.00% |
| Tej Transportation Private Limited | 0.00% |
| Unnath Advertising Private Limited | 0.00% |
| Tata Communications Lanka Limited | 0.00% |
| Tata Communications Services (International) Pte. Limited | 0.00% |
| Public holders above 1% | % |
|---|---|
| Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund | 2.89% |
3,40,249 shareholders. Pledged: – of promoter shares.
Peers in Telecom - Equipment & Accessories
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| STLTECH | ₹42,510 cr | 174.6x | 18.7x | 13.2% | 14.2% | 15.0% | -11.8% | – |
| TNTELE | ₹40,505 cr | – | – | – | – | – | – | – |
| ITI | ₹20,935 cr | 55.2x | 11.0x | 18.4% | 18.7% | 23.9% | +16.1% | – |
| TEJASNET | ₹7,332 cr | – | 2.9x | -27.9% | -11.1% | -31.8% | +6.3% | 0.60% |
| OPTIEMUS | ₹6,162 cr | 84.1x | 7.9x | 10.1% | 10.2% | 4.6% | +14.6% | – |
| VALIANT | ₹1,626 cr | 53.4x | 16.9x | 34.5% | 37.1% | 37.8% | +41.1% | 0.07% |
| ADCINDIA | ₹927 cr | 41.1x | 10.7x | 28.8% | 34.0% | 11.7% | +11.9% | 0.25% |
| BIRLACABLE | ₹888 cr | 19.2x | 3.2x | 17.3% | 17.5% | 9.8% | -0.9% | – |
| UMIYA-MRO | ₹164 cr | 44.1x | 1.4x | 3.4% | 7.2% | 28.4% | +29.5% | – |
| AKSHOPTFBR | ₹110 cr | – | – | – | 13.3% | 12.4% | -23.7% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2025-06-19 | Dividend | Dividend - Rs 2.50 Per Share |
| 2024-06-20 | Other | Annual General Meeting |
| 2023-06-12 | Other | Annual General Meeting |
| 2022-07-15 | Other | Annual General Meeting |
| 2021-06-16 | Other | Annual General Meeting |
| 2020-07-20 | Other | Annual General Meeting |
| 2019-07-17 | Dividend | Annual General Meeting/ Dividend - Re 1 Per Share |
| 2018-07-16 | Other | Annual General Meeting |
| 2017-09-19 | Other | Annual General Meeting |
Documents
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Annual report FY21
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Communication Equipment and Software: The company designs, develops, and manufactures advanced wireless and wireline equipment for telecom service providers, utilities, defense, and government agencies worldwide. It offers a range of technologies for building telecom networks, including 4G/5G mobile and multi-gigabit fiber broadband, terabit-scale optical transmission, and high-capacity packet switches. The company also provides software solutions for remote configuration, monitoring, provisioning, and management of its products through a web enabled platform, which can be hosted on dedicated servers or in the public cloud.
- Support Services for Communication Equipment and Services.: The company offers a range of network services, including installation, maintenance, upgrades, training, and optimization support.
| Sector | Telecommunication |
| Industry | Telecom - Equipment & Accessories |
| Sub-industry | Telecom - Equipment & Accessories |
| Symbol | TEJASNET |
| BSE code | 540595 |
| ISIN | INE010J01012 |
| Face value | ₹10.0 |
| Incorporated | 2000-04-24 |
| Website | www.tejasnetworks.com |
| Plants (India / abroad) | 1 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.