Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that the company has received Rs 27.78 crore as incentives for the fiscal year 2022-’23 under the PLI (Production-Linked Incentive) Scheme for Telecom and Networking Products. The said amount accounts for 85% of the total claim for FY23 and the balance 15% is expected to be released subsequently in accordance with the PLI Scheme Guidelines.

Mr. Anand Athreya, CEO and Managing Director of Tejas Networks said, “We thank the Empowered Committee for PLI Scheme, Department of Telecommunications (DoT) and SIDBI for approving our incentive application for FY23. Government of India’s design-linked PLI is an excellent scheme that has given a massive boost to indigenous telecom R&D and manufacturing by kickstarting a virtuous cycle of domestic innovation in this sector. As the country’s leading home-grown telecom and networking products company, we continue to make the committed R&D and other capital investments to scale-up our business globally and accelerate our vision to be a top-tier telecom OEM in the next few years.

The company is eligible to receive design-linked PLI incentives for five years, starting with fiscal year 2022-’23, on meeting the minimum cumulative investment of Rs 750 crore committed during the scheme period. As per the scheme guidelines, the quantum of incentives in each year will be a proportion of the company’s incremental net sales of the approved products under the scheme generated in that year over the net eligible sales done in the baseline year (2019-’20).

Tejas Networks [BSE: 540595, NSE: TEJASNET] today reported its financial results for the third quarter ended December 31, 2023. Tejas Networks designs, develops, manufactures and sells high-performance telecom and networking products, which are used to build high-speed communication networks.

				Amount in Rs. cr
	Q3-FY24	Q3-FY23	9M-FY24	9M-FY23
Net Revenue	560.0	274.6	1,143.8	620.3
PBT	(48.8)	(9.4)	(132.4)	(15.6)
PAT	(44.9)	(15.2)	(83.8)	(25.0)

Mr. Anand Athreya, Managing Director and CEO of Tejas Networks said, “In Q3-FY24 we had a strong revenue growth . We ramped up shipments for BSNL’s 4G network – both RAN equipment and IP/MPLS routers for the backhaul network. We have also deployed several strategic networks for Telcos and Utilities in India and global markets. A notable highlight has been our subsidiary, Saankhya Lab’s strategic win for deployment of its two-way Satcom Xponders for communication and support system on marine fishing vessels

Mr. Sumit Dhingra, CFO said, “Our consolidated Revenue for Q3-FY24 was Rs. 560 crore – which is more than double the revenue of Q3-FY23. We continue to make investments to ramp up our R&D team and operations which are essential to deliver the growth potential of the company. Our net loss for the quarter was Rs. 45 crore. We have a strong order book of Rs. 9,028 crore. As on December 31, 2023, our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, were at Rs. 559 crore.”

As on December 31, 2023, Tejas and its subsidiaries have filed for 445 patents of which 313 have been granted.

Saankhya Labs, a subsidiary of Tejas Networks (BSE: 540595) (NSE: TEJASNET), today announced that it has received a Provisional Purchase order worth Rs. 96.42 Crores (excluding GST) from NSIL (NewSpace India Limited, a wholly owned Government of India undertaking/Central Public Sector Enterprise (CPSE), under the administrative control of the Department of Space). The order is for the supply, installation and commissioning of Two-Way MSS Terminals (Xponders) for vessel communication and support system in Marine Fishing Vessels for Monitoring, Control and Surveillance (MCS) along the coastal states of India.

As part of this contract, Saankhya Labs, in co-ordination with NSIL, ISRO and the Department of Fisheries, shall deploy its indigenously designed and developed satellite terminals (Xponders) on motorized and mechanized fishing vessels. Once commissioned, the network shall provide vessel communication and support system, enhancing safety and security for fishermen and would mitigate sea-borne threat concerns from a national security perspective. The Xponders also enable navigational assistance, automatic boundary crossing alarm and emergency weather alerts to fishermen.

“We are delighted to win this prestigious contract from NSIL. Having operationalized a similar project for mechanized vessels in Tamil Nadu in partnership with ISRO, earlier, we are fully geared up to support Government of India’s efforts to deploy this network across the coastal states of India,” said Mr. Parag Naik, CEO and Co-founder of Saankhya Labs. “It is a matter of pride for us as our award-winning, truly Made in India Satcom Xponders powered by Saankhya’s SDR chipsets are getting deployed in one of the largest Satellite-IoT deployments in the world.”

This project not only aims at improving fishermen’s livelihood and safety but also helps promote deployment of indigenous Satcom solutions operating on ISRO satellites in the service of the nation, a true testimony to self-reliance (Atmanirbhar Bharat) in Satcom.

About Saankhya Labs

Saankhya Labs, a subsidiary of Tejas Networks, is an innovative leading-edge technology company with a breadth of wireless communication system solutions. Saankhya offers a wide range of communication products for 5G NR, Broadcast and Satellite Communication applications. With over 100 International Technology Patents and unique ‘chipset-to-systems’ expertise, Saankhya’s solutions include the award-winning SDR chipsets for communication, next gen OpenRAN Solutions for 5G networks, multi-standard direct to mobile (D2M) broadcast and Satcom solutions.

For more information, visit Saankhya Labs at www.saankhyalabs.com

About Tejas Networks Ltd. Tejas Networks designs and manufactures high-performance wireline and wireless networking products for telecommunications service providers, internet service providers, utilities, defence and government entities in over 75 countries. Tejas Networks Ltd. is a part of the Tata Group, with Panatone Finvest Ltd. (a subsidiary of Tata Sons Pvt. Ltd.) being the majority shareholder. For more information, visit Tejas Networks Ltd. at https://staging.tejasnetworks.com

SAFE HARBOUR

Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements due to risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to successfully implement our strategy and our growth and expansion plans, technological changes, our exposure to market risks, general economic and political conditions in India which have an impact on our business activities or investments, changes in the laws and regulations that apply to the industry in which the Company operates. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company.

Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that it won two prestigious awards for its optical and broadband innovations at national and international events last week. The company was recognized for its “Leading PON-based Smart City” solutions at the Network X event held in Paris and its flagship TJ1600 optical and packet transmission product was selected as the “Best Indian IPR of the Year in Telecom” at the India Mobile Congress (IMC), New Delhi. Tejas had a prominent presence at both the events and its booth attracted many senior government dignitaries, key telco decision makers and industry luminaries both from India and abroad.

Mr. Anand Athreya, CEO & Managing Director of Tejas Networks said, “The IMC and Network X awards reaffirm our ability to deliver smart and comprehensive network infrastructure solutions that enable telcos, broadband operators and governments build high-capacity and cost-efficient fiber networks to deliver premium services and fuel local economies. The company had a highly impactful show at the two events which provided us a great opportunity to strengthen our global branding and customer relationships by showcasing our leading-edge network portfolio and extensive R&D capabilities in cellular, optical, broadcast and satellite communication technologies. We are committed to sustain and build on this momentum to realize our vision to be a global top-tier telecom and networking OEM in the coming years.

Mr. Arnob Roy, Chief Operating Officer & Executive Director of Tejas Networks said, “We are delighted at the enthusiastic response and industry accolades we received at IMC and Network X, two highly reputed global telecom sector events in Asia and Europe. The awards underscore our growing stature as a leading global supplier of innovative wireline and wireless product offerings. Further, the events served as a great platform to display several recent additions to our network portfolio in diverse areas such as advanced multi-band 4G/5G radios, multi-technology 5G xHaul using WDM, xPON and IP/MPLS, and multi-terabit optical transmission with C+L band support.”

Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that FibreConnect, an innovative wholesale telecom infrastructure developer in Italy, has successfully launched its broadband services in the country using its state-of-the-art telecom and networking products. The company added that it is the sole supplier of optical networking and broadband access products for FibreConnect’s country-wide FTTP (fiber-to-the-premise) rollout, ranging from DWDM/PTN/OTN for Core to xPON and Ethernet for Access. Based on a unique business model built around partnerships with regional and retail ISPs (Internet Service Providers), FibreConnect targets industrials areas in Italy which currently lack broadband infrastructure to support the Italian government’s ‘Transition 4.0’ plan to promote the digital transformation of its manufacturing sector.

As a part of this contract, Tejas Networks has deployed its full-range of products including its versatile TJ1400UCB, integrating GPON/XGS-PON, Fixed LTE and PTN technologies for Access and Aggregation, multi-terabit TJ1600 OTN/DWDM systems for Metro and Backbone, and feature-rich TJ2100 series of ONTs for business and industrial premises. The complete network is being managed using TejNMS, the company’s universal, multi-technology network management system coupled with an advanced service orchestration solution to deliver an agile, resilient and future-proof network for FibreConnect.

Renzo Ravaglia, Executive Chairman and CEO of FibreConnect said, “FibreConnect is thrilled to partner with Tejas Networks on this transformative network rollout that seeks to bridge the digital divide for small & médium businesses in Italy and extend the benefits of high-speed connectivity to unserved businesses and industries across the country through its ISP partners. Tejas Networks’ innovative solutions such as their business-grade Type-C protection switching on ONTs, 2.5G GPON ONTs, converged “swiss-knife” architecture for multiservice access, and novel interplay of PTN and OTN technologies in the backbone are enabling us to deliver the highest level of service to our customers in a cost-effective manner. In spite of challenging macro-economic headwinds, 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.”

Mr. Anand Athreya, Chief Executive Officer and Managing Director of Tejas Networks said, “We are delighted that FibreConnect chose to build the complete network in Italy using our carrier-class optical and broadband access products. Besides signaling our emergence as a leading end-to-end supplier of world-class telecom equipment, this win also demonstrates a growing confidence among global telcos in our ability to design and execute complex, large-scale networks, all the way from access to core.”

Mr. Indranil Sen, Chief Revenue Officer (UK and EU) of Tejas Networks said, “By building a single vendor network based on Tejas products, FibreConnect is able to leverage the true strengths and benefits of our innovative portfolio to develop advanced applications and create differentated services for its customers. FibreConnect’s unique business model, combined with our expertise in building programmable, next-generation networks, could prove to be a potential game changer for the Italian telecommunications industry and can be replicated in other parts of Europe as well.”