Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that Wheat State Telephone, a progressive rural carrier in the USA, has selected Tejas’ TJ1400 Packet Transport Networking (PTN) product to offer cutting-edge telecommunication services in south-central Kansas. Wheat State Telephone is a local telecommunications provider in Kansas and serves primarily residential customers while delivering services to select business customers.
Since 1950, Wheat State Telephone has been on the cutting-edge of telecommunications services. Wheat State service territory comprises two non-contiguous areas which poses a challenge in terms of offering quality services to their customers. However, Wheat State continues to deliver advanced network solutions including Fiber-to-the-Home (FTTH) services to their customers.
Randy Hoffman, General Manager at Wheat State said, “As a leading rural technologies provider in the state of Kansas, we seek to build networks that are reliable, scalable and cost-efficient. We selected Tejas Networks for their feature-rich packet transport products based on MPLS-TP technology that considerably simplified our network architecture and operations by minimizing routing overheads. Tejas’ MPLS-TP based approach offers a compelling alternative to rural broadband operators by delivering better performance and economics when compared to traditional router-driven models.”
“Tejas has a deep appreciation of the practical challenges faced by rural service providers, having implemented many rural fiber-based broadband networks across the world,” said Sanjay Nayak, CEO and MD at Tejas Networks. “Tejas’ TJ1400 is a unique converged product that combines MPLS-TP based packet transmission services with GPON based FTTx access on the same platform. This enables carriers to efficiently scale their networks while delivering next-generation residential and business services.”
Harmeet Singh, Senior Vice President – North America Sales at Tejas Networks, said, “We are honored to partner with Wheat State in rolling out a world-class packet optical network in rural Kansas. TJ1400 is a versatile product in the converged packet optical (CPO) space and we will actively support the Wheat State team to unleash the full benefits of this platform as they expand their network footprint and service offerings in the region.”
Since 1950, Wheat State Telephone has been on the cutting-edge of telecommunications services. Wheat State service territory comprises two non-contiguous areas which poses a challenge in terms of offering quality services to their customers. However, Wheat State continues to deliver advanced network solutions including Fiber-to-the-Home (FTTH) services to their customers.
Randy Hoffman, General Manager at Wheat State said, “As a leading rural technologies provider in the state of Kansas, we seek to build networks that are reliable, scalable and cost-efficient. We selected Tejas Networks for their feature-rich packet transport products based on MPLS-TP technology that considerably simplified our network architecture and operations by minimizing routing overheads. Tejas’ MPLS-TP based approach offers a compelling alternative to rural broadband operators by delivering better performance and economics when compared to traditional router-driven models.”
“Tejas has a deep appreciation of the practical challenges faced by rural service providers, having implemented many rural fiber-based broadband networks across the world,” said Sanjay Nayak, CEO and MD at Tejas Networks. “Tejas’ TJ1400 is a unique converged product that combines MPLS-TP based packet transmission services with GPON based FTTx access on the same platform. This enables carriers to efficiently scale their networks while delivering next-generation residential and business services.”
Harmeet Singh, Senior Vice President – North America Sales at Tejas Networks, said, “We are honored to partner with Wheat State in rolling out a world-class packet optical network in rural Kansas. TJ1400 is a versatile product in the converged packet optical (CPO) space and we will actively support the Wheat State team to unleash the full benefits of this platform as they expand their network footprint and service offerings in the region.”
Tejas Networks [BSE: 540595, NSE: TEJASNET] today reported its financial results for the fourth quarter and year ended March 31, 2018. Tejas Networks designs, develops, manufactures and sells high-performance optical and data networking products, which are used to build high-speed communication networks over optical fiber.
For the year ended March 31, 2018, our consolidated revenues (net of taxes and pass-through component sale) were Rs. 739.9 crore which was a year-on-year decline of 9.6% and our profit before tax and exceptional item was Rs 106 crore which was a year-on-year increase of 26.0%. For Q4’18 our consolidated revenues (net of taxes and pass-through component sale) were Rs 98.7 crore, a decline of 61.2% and our net profit after tax of Rs 29.1 crore, a decline of 56.7% on a year-on-year basis.
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “Revenue decline during the year is primarily due to late receipt of a few large orders. However, we ended the year with a healthy backlog of Rs 579 crore, which gives us the necessary momentum for a strong revenue growth in the coming year.”
The fundamental growth drivers of our business continue to be strong. Globally, the increased use of mobile data as well as broadband by consumers, businesses and governments, results in an increased demand for our optical transmission equipment. With expansion of 4G networks and advent of 5G and IOT in future, we expect this trend to continue for the next few years. During fiscal 2018, our India revenues were strong, particularly in the government sector. Our international business is going through a transition, where we saw a decline in revenues from our OEM customers, while we increased our focus on building our direct sales. Our continued investment in international direct sales is showing positive signs, as we see strong business momentum building up across customers in SE Asia, Africa and USA. India will continue to lead our growth with increased capex in fiber optic infrastructure by telecom operators and execution of government projects such as Bharatnet Phase 2. However, due to the nature of our business, our revenue on a quarter-onquarter basis will continue to be lumpy.
Mr. Venkatesh Gadiyar, CFO said, “We continue to see good progress in our working capital management which saw a reduction of Rs 133.1 crore for the year. Our cash and cash equivalents including investment in liquid mutual funds and deposits with financial institutions at the end of the year was Rs 512.7 crore. We announced a new capital allocation policy of paying upto 25% of our free cash flows as dividend (including dividend distribution tax) every year. We believe we have a strong balance sheet to support our future growth.”
During the year, we were granted 20 patents resulting in a cumulative grant of 76 patents. As on date, we have filed for 341 patents.
For the year ended March 31, 2018, our consolidated revenues (net of taxes and pass-through component sale) were Rs. 739.9 crore which was a year-on-year decline of 9.6% and our profit before tax and exceptional item was Rs 106 crore which was a year-on-year increase of 26.0%. For Q4’18 our consolidated revenues (net of taxes and pass-through component sale) were Rs 98.7 crore, a decline of 61.2% and our net profit after tax of Rs 29.1 crore, a decline of 56.7% on a year-on-year basis.
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “Revenue decline during the year is primarily due to late receipt of a few large orders. However, we ended the year with a healthy backlog of Rs 579 crore, which gives us the necessary momentum for a strong revenue growth in the coming year.”
The fundamental growth drivers of our business continue to be strong. Globally, the increased use of mobile data as well as broadband by consumers, businesses and governments, results in an increased demand for our optical transmission equipment. With expansion of 4G networks and advent of 5G and IOT in future, we expect this trend to continue for the next few years. During fiscal 2018, our India revenues were strong, particularly in the government sector. Our international business is going through a transition, where we saw a decline in revenues from our OEM customers, while we increased our focus on building our direct sales. Our continued investment in international direct sales is showing positive signs, as we see strong business momentum building up across customers in SE Asia, Africa and USA. India will continue to lead our growth with increased capex in fiber optic infrastructure by telecom operators and execution of government projects such as Bharatnet Phase 2. However, due to the nature of our business, our revenue on a quarter-onquarter basis will continue to be lumpy.
Mr. Venkatesh Gadiyar, CFO said, “We continue to see good progress in our working capital management which saw a reduction of Rs 133.1 crore for the year. Our cash and cash equivalents including investment in liquid mutual funds and deposits with financial institutions at the end of the year was Rs 512.7 crore. We announced a new capital allocation policy of paying upto 25% of our free cash flows as dividend (including dividend distribution tax) every year. We believe we have a strong balance sheet to support our future growth.”
During the year, we were granted 20 patents resulting in a cumulative grant of 76 patents. As on date, we have filed for 341 patents.
Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that it has received a new purchase order of Rs. 336 Cr from BSNL for expansion of BharatNet, the world’s largest rural broadband project. Tejas Networks designs develops, manufactures and sells high-performance optical and data networking products, which are used to build high-speed communication networks over optical fiber.
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “We are pleased to receive this additional purchase order from BSNL for BharatNet. This order reinforces the confidence that BSNL and BBNL have in our capabilities to successfully execute large national projects of strategic importance. For BharatNet Phase-1, we played a major role and were honoured as the best performing equipment partner by the Government of India.”
Mr. Nayak further added, “For the fiscal year 2018, we earlier expected our revenue growth to be around 5%. The nature of our business is that our revenues depend on timely win of large orders. Due to delays in receiving certain large orders, we expect our revenues for fiscal year 2018 to show a year-on-year decline. However, we continue to see strong growth potential for our business over the next few years, especially from our customers in India, driven by the exponential growth in data traffic and robust capex investments on broadband infrastructure. Given our healthy order pipeline and strong business momentum, we are well set for strong revenue and profitability growth for the coming fiscal year.”
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “We are pleased to receive this additional purchase order from BSNL for BharatNet. This order reinforces the confidence that BSNL and BBNL have in our capabilities to successfully execute large national projects of strategic importance. For BharatNet Phase-1, we played a major role and were honoured as the best performing equipment partner by the Government of India.”
Mr. Nayak further added, “For the fiscal year 2018, we earlier expected our revenue growth to be around 5%. The nature of our business is that our revenues depend on timely win of large orders. Due to delays in receiving certain large orders, we expect our revenues for fiscal year 2018 to show a year-on-year decline. However, we continue to see strong growth potential for our business over the next few years, especially from our customers in India, driven by the exponential growth in data traffic and robust capex investments on broadband infrastructure. Given our healthy order pipeline and strong business momentum, we are well set for strong revenue and profitability growth for the coming fiscal year.”
Tejas Networks (BSE: 540595, NSE: TEJASNET) today reported its financial results for the third quarter and nine months ended December 31, 2017. Tejas Networks designs, develops, manufactures and Sells high-performance and cost-competitive optical and data networking products, which are used to build high-speed communication networks over optical fiber.
On a Sequential basis, for C3’18 our consolidated revenues (net of taxes and pass-through component sale to our contract manufacturers) grew by 5.2% to Rs. 226.15 crore. Our operating profit grew by 21.7% and net profit after tax by 12.2%. As a percentage of consolidated revenues (net of taxes and pass-through component Sale) our operating margin was 15.7% in O318 compared to 13.6% in O2’18 and our net profit after tax was 13.3% as compared to net profit of 12.5% in the previous quarter.
For the nine month period ended December 31, 2017, our revenues (net of taxes and pass-through component Sale) were Rs. 641.16 crore which was a growth of 13.5% year-on-year, our operating profits grew by 22.1% year-on-year and our net profit (before exceptional item) grew by 37.4% year-on-year.
For the quarter ended December 31, 2017, our consolidated revenues (net of taxes and pass-through Component Sale) declined by 11.0% year-on-year and our operating profits declined by 29.0% and net profit (before exceptional item) declined by 28.5% year-on-year.
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “Globally, there is a robust demand for optical transmission equipment, driven by increased usage of mobile data as well as broadband by consumers, businesses and governments. With expansion of 4G networks and advent of 5G networks in future, we expect that this trend will Continue for the next few years”. He added “We continue to see strong growth led by India, particularly driven by government-funded projects. We see greater opportunities in large telecom projects, however, Some of these projects are getting shifted to the next financial year. Due to this, we expect our revenue growth during the current financial year to be around 5%”.
Mr. Venkatesh Gadiyar, CFO said, “As a technology product company, we continue to see the benefits of operating leverage, which is reflected in our strong profitability growth on a Nine months basis. For the nine months ended, our net profit after tax was Rs. 77.45 crore and we generated cash of Rs. 179.18 crore from operations. We are a debt-free Company and our current cash and cash equivalent including investment in liquid mutual funds was Rs 449.50 crore.”
During the quarter, Tejas won many awards, including “Best performing equipment supply partner for Bharatnet Phase-1” from Minister of Communications (Independent Charge) Government of India, “High Growth Electronic Hardware Exporter” from Software Technology Parks of India, Karnataka and “Digital India Excellence Award for Electronics Manufacturing”, at the PAN-IIM World Management Conference.
On a Sequential basis, for C3’18 our consolidated revenues (net of taxes and pass-through component sale to our contract manufacturers) grew by 5.2% to Rs. 226.15 crore. Our operating profit grew by 21.7% and net profit after tax by 12.2%. As a percentage of consolidated revenues (net of taxes and pass-through component Sale) our operating margin was 15.7% in O318 compared to 13.6% in O2’18 and our net profit after tax was 13.3% as compared to net profit of 12.5% in the previous quarter.
For the nine month period ended December 31, 2017, our revenues (net of taxes and pass-through component Sale) were Rs. 641.16 crore which was a growth of 13.5% year-on-year, our operating profits grew by 22.1% year-on-year and our net profit (before exceptional item) grew by 37.4% year-on-year.
For the quarter ended December 31, 2017, our consolidated revenues (net of taxes and pass-through Component Sale) declined by 11.0% year-on-year and our operating profits declined by 29.0% and net profit (before exceptional item) declined by 28.5% year-on-year.
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “Globally, there is a robust demand for optical transmission equipment, driven by increased usage of mobile data as well as broadband by consumers, businesses and governments. With expansion of 4G networks and advent of 5G networks in future, we expect that this trend will Continue for the next few years”. He added “We continue to see strong growth led by India, particularly driven by government-funded projects. We see greater opportunities in large telecom projects, however, Some of these projects are getting shifted to the next financial year. Due to this, we expect our revenue growth during the current financial year to be around 5%”.
Mr. Venkatesh Gadiyar, CFO said, “As a technology product company, we continue to see the benefits of operating leverage, which is reflected in our strong profitability growth on a Nine months basis. For the nine months ended, our net profit after tax was Rs. 77.45 crore and we generated cash of Rs. 179.18 crore from operations. We are a debt-free Company and our current cash and cash equivalent including investment in liquid mutual funds was Rs 449.50 crore.”
During the quarter, Tejas won many awards, including “Best performing equipment supply partner for Bharatnet Phase-1” from Minister of Communications (Independent Charge) Government of India, “High Growth Electronic Hardware Exporter” from Software Technology Parks of India, Karnataka and “Digital India Excellence Award for Electronics Manufacturing”, at the PAN-IIM World Management Conference.
Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that it has successfully completed GPON equipment installations in over 40,000 gram panchayats in India as part of the BharatNet Phase-1 project. BharatNet is an ambitious Government of India project to bring high-speed broadband connectivity to 250,000 gram panchayats of the country. Tejas Networks was felicitated for its contribution to the success of BharatNet Phase-1 by Shri Manoj Sinha, Hon’ble Minister of State for Communications (Independent Charge) and Minister of State for Railways at a function organized by Bharat Broadband Network Limited (BBNL) at India Habitat Centre, New Delhi yesterday.
Speaking on the occasion, Hon’ble Minister Shri Manoj Sinha said, “I am very happy with the performance and commitment of Tejas Networks. They have done a commendable job in contributing to the success of Phase-I by supplying and installing their GPON equipment in a short period of time. It is a matter of pride that Bharatnet has been successfully implemented using indigenous products and technology and is a strong endorsement of our Government’s supportive policies for Make-in-India and using design-led manufacturing.”
Congratulating Tejas Networks for their role in the success of BharatNet Phase-1, Smt. Aruna Sundararajan, Secretary DoT and Chairman Telecom Commission said, “Tejas Networks is one of the most promising telecom product companies in India and the manner in which they have supported the rollout of this project has been outstanding and we hope to see this company achieve greater heights in the days to come.”
Mr. Sanjay Nayak, CEO & MD, Tejas Networks said, “We are honored to be a partner for Bharatnet, a prestigious project of Government of India, which will serve as the high-speed backbone of Digital India. Bharatnet is one of the largest greenfield rollouts of a GPON–based broadband network in the world and we are delighted that we have supplied and successfully deployed our GPON equipment in over 40,000 locations, spanning over 16 states spread across the country, in record time.” He further added, “Our GPON products have been completely designed and manufactured in India and Bharatnet is a great example of a successful public-private partnership that exemplifies Government of India’s “Digital India” and “Make-in-India” initiatives.”
Mr. Arnob Roy, President of Optical Products at Tejas Networks said, “We have been investing significant resources in R&D for creating world-class products that are specifically suited for India and other emerging markets. For the BharatNet project, we have used our award winning TJ1400 GPON product, which is a ruggedized equipment that can operate under challenging environmental conditions. It enables flexible, scalable and cost-effective delivery of both high-speed broadband access and packet transport services from the same platform.”
Speaking on the occasion, Hon’ble Minister Shri Manoj Sinha said, “I am very happy with the performance and commitment of Tejas Networks. They have done a commendable job in contributing to the success of Phase-I by supplying and installing their GPON equipment in a short period of time. It is a matter of pride that Bharatnet has been successfully implemented using indigenous products and technology and is a strong endorsement of our Government’s supportive policies for Make-in-India and using design-led manufacturing.”
Congratulating Tejas Networks for their role in the success of BharatNet Phase-1, Smt. Aruna Sundararajan, Secretary DoT and Chairman Telecom Commission said, “Tejas Networks is one of the most promising telecom product companies in India and the manner in which they have supported the rollout of this project has been outstanding and we hope to see this company achieve greater heights in the days to come.”
Mr. Sanjay Nayak, CEO & MD, Tejas Networks said, “We are honored to be a partner for Bharatnet, a prestigious project of Government of India, which will serve as the high-speed backbone of Digital India. Bharatnet is one of the largest greenfield rollouts of a GPON–based broadband network in the world and we are delighted that we have supplied and successfully deployed our GPON equipment in over 40,000 locations, spanning over 16 states spread across the country, in record time.” He further added, “Our GPON products have been completely designed and manufactured in India and Bharatnet is a great example of a successful public-private partnership that exemplifies Government of India’s “Digital India” and “Make-in-India” initiatives.”
Mr. Arnob Roy, President of Optical Products at Tejas Networks said, “We have been investing significant resources in R&D for creating world-class products that are specifically suited for India and other emerging markets. For the BharatNet project, we have used our award winning TJ1400 GPON product, which is a ruggedized equipment that can operate under challenging environmental conditions. It enables flexible, scalable and cost-effective delivery of both high-speed broadband access and packet transport services from the same platform.”
Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that it has successfully completed the execution of a high capacity national optical backbone network in Bangladesh for the Bangladesh Telecommunications Company Ltd. (BTCL), in partnership with Telephone Shilpa Shanstha (TSS) Ltd., Bangladesh.
The high-capacity terrestrial network is built using multiple 100 Gbps channels on DWDM (Dense Wavelength Division Multiplexing) equipment of Tejas Networks and connects the undersea cable landing at Kuakata in Bangladesh to Dhaka. It will be used for countrywide distribution of high-speed Internet bandwidth available from the SMW-5 undersea submarine cable system which connects Bangladesh to several countries in Asia, Africa and Europe such as Singapore, Sri Lanka, Myanmar, Indonesia, Saudi Arabia, UAE, Djibouti, Turkey, Italy and France.
“We are honored to be selected by BTCL as the optical technology partner for building one of the largest and mission-critical networks in Bangladesh,” said Sanjay Nayak, CEO and MD of Tejas Networks. “The network will significantly boost the availability of reliable high-speed Internet services in the country and we are proud to be associated with such a prestigious project of Government of Bangladesh.” he added.
Mr. Mashiur Rahman, Managing Director, Bangladesh Submarine Cable Company Limited (BSCCL), Bangladesh said, “We are pleased to be the user of the high capacity DWDM Equipment of Tejas Networks, a pioneering high-technology company from India, which has successfully helped us rollout this next-generation network for Bangladesh in the shortest possible time. Tejas Networks fully met our expectations of timely deliveries, high quality and prompt customer support to successfully get this network up and running as per committed deadlines.”
This high-capacity transmission network project is designed to have ten major traffic drop points with countrywide traffic distribution through existing access networks. Tejas 1600 converged packet optical (CPO) products have been deployed in this project and these were locally manufactured by TSS, a premier government-owned telecom company in Bangladesh. Tejas TJ1600 is a highly flexible and scalable optical product, with a unique software-defined hardware™ architecture, that incorporates advanced Nx100G coherent DWDM transmission technology to ensure a high-performance and future-proof network.
The high-capacity terrestrial network is built using multiple 100 Gbps channels on DWDM (Dense Wavelength Division Multiplexing) equipment of Tejas Networks and connects the undersea cable landing at Kuakata in Bangladesh to Dhaka. It will be used for countrywide distribution of high-speed Internet bandwidth available from the SMW-5 undersea submarine cable system which connects Bangladesh to several countries in Asia, Africa and Europe such as Singapore, Sri Lanka, Myanmar, Indonesia, Saudi Arabia, UAE, Djibouti, Turkey, Italy and France.
“We are honored to be selected by BTCL as the optical technology partner for building one of the largest and mission-critical networks in Bangladesh,” said Sanjay Nayak, CEO and MD of Tejas Networks. “The network will significantly boost the availability of reliable high-speed Internet services in the country and we are proud to be associated with such a prestigious project of Government of Bangladesh.” he added.
Mr. Mashiur Rahman, Managing Director, Bangladesh Submarine Cable Company Limited (BSCCL), Bangladesh said, “We are pleased to be the user of the high capacity DWDM Equipment of Tejas Networks, a pioneering high-technology company from India, which has successfully helped us rollout this next-generation network for Bangladesh in the shortest possible time. Tejas Networks fully met our expectations of timely deliveries, high quality and prompt customer support to successfully get this network up and running as per committed deadlines.”
This high-capacity transmission network project is designed to have ten major traffic drop points with countrywide traffic distribution through existing access networks. Tejas 1600 converged packet optical (CPO) products have been deployed in this project and these were locally manufactured by TSS, a premier government-owned telecom company in Bangladesh. Tejas TJ1600 is a highly flexible and scalable optical product, with a unique software-defined hardware™ architecture, that incorporates advanced Nx100G coherent DWDM transmission technology to ensure a high-performance and future-proof network.
