Tejas Networks [BSE: 540595, NSE: TEJASNET] today reported its financial results for the second quarter ended September 30, 2023. Tejas Networks designs, develops, manufactures and sells high-performance telecom and networking products, which are used to build high-speed communication networks.
Mr. Anand Athreya, Managing Director and CEO of Tejas Networks said, “In Q2-FY24 we achieved the highest ever quarterly revenue in our company. Based on strong order inflow across all product lines during the quarter, we also have our highest ever order book of Rs. 9,271 crore. As part of our long-term strategy, we continue to invest in scaling up R&D teams, addition of new facilities, and increasing manufacturing infrastructure to address the large upcoming shipments for BSNL 4G wireless equipment. The PAT loss for the quarter was on account of the increased investments and expedite fees for delayed components.”
Mr. Venkatesh Gadiyar, CFO said, “During the quarter, we have received the mobilization advance of Rs. 750 crore from TCS towards supply of RAN equipment for BSNL 4G/5G network. As on September 30, 2023, our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, were at Rs. 1,371 crore.”
As on September 30, 2023, Tejas and its subsidiaries have filed for 443 patents of which 282 have been granted.
| Amount in Rs. cr | ||||
|---|---|---|---|---|
| Q2-FY24 | Q2-FY23 | H1-FY24 | H1-FY23 | |
| Net Revenue | 396.0 | 220.0 | 583.8 | 345.7 |
| PBT | (17.7) | 6.7 | (83.6) | (6.3) |
| PAT | (12.6) | (3.2) | (38.9) | (9.8) |
Mr. Anand Athreya, Managing Director and CEO of Tejas Networks said, “In Q2-FY24 we achieved the highest ever quarterly revenue in our company. Based on strong order inflow across all product lines during the quarter, we also have our highest ever order book of Rs. 9,271 crore. As part of our long-term strategy, we continue to invest in scaling up R&D teams, addition of new facilities, and increasing manufacturing infrastructure to address the large upcoming shipments for BSNL 4G wireless equipment. The PAT loss for the quarter was on account of the increased investments and expedite fees for delayed components.”
Mr. Venkatesh Gadiyar, CFO said, “During the quarter, we have received the mobilization advance of Rs. 750 crore from TCS towards supply of RAN equipment for BSNL 4G/5G network. As on September 30, 2023, our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, were at Rs. 1,371 crore.”
As on September 30, 2023, Tejas and its subsidiaries have filed for 443 patents of which 282 have been granted.
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.”
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.”
Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that the company has won the prestigious 2023 Leading Lights award in the “Company of the Year (Public)” category. Currently in its 19th year, the Leading Lights Awards recognize the industry’s top companies and their executives for their outstanding achievements in next-generation communications technology, applications, services, strategies and innovation. The “Company of the Year (Public)” category honors “a publicly listed firm that stands out from its competitors, innovates constantly, makes investors proud and makes employees happy.” The winner was selected by an independent and eminent judging panel comprising industry luminaries from leading technology research firms.
Mr. Anand Athreya, CEO & Managing Director of Tejas Networks said, “We are proud to be selected as the Public Company of the Year by one of our industry’s most respected international awards programs organized by Light Reading (a part of Informa Tech). It’s a recognition of our strong and consistent R&D focus, deep and growing customer relationships, and a vision to create a global-scale telecom and networking OEM in the next few years.”
“India’s Tejas Networks wins for its deep technology expertise, a strong balance sheet, a long-term investment outlook and deep customer relationships,” said Phil Harvey, Editor-in-Chief of Light Reading. “It’s a growth company with scale in an exploding market, but it has a longer-term outlook than what you’d typically find in Silicon Valley. The company’s investment in R&D and strategic acquisitions also put it over the top in a competitive field.”
Mr. Arnob Roy, Chief Operating Officer & Executive Director of Tejas Networks said, “The Leading Lights award is a powerful endorsement of our evolution from being a pure-play optical networking company to an end-to-end supplier of cutting-edge wireline and wireless products for fixed and mobile networks. We are currently in an exciting phase of growth and the company stays firmly committed to its goal of maximizing long-term shareholder value through continuous innovation and disciplined execution.”
Mr. Anand Athreya, CEO & Managing Director of Tejas Networks said, “We are proud to be selected as the Public Company of the Year by one of our industry’s most respected international awards programs organized by Light Reading (a part of Informa Tech). It’s a recognition of our strong and consistent R&D focus, deep and growing customer relationships, and a vision to create a global-scale telecom and networking OEM in the next few years.”
“India’s Tejas Networks wins for its deep technology expertise, a strong balance sheet, a long-term investment outlook and deep customer relationships,” said Phil Harvey, Editor-in-Chief of Light Reading. “It’s a growth company with scale in an exploding market, but it has a longer-term outlook than what you’d typically find in Silicon Valley. The company’s investment in R&D and strategic acquisitions also put it over the top in a competitive field.”
Mr. Arnob Roy, Chief Operating Officer & Executive Director of Tejas Networks said, “The Leading Lights award is a powerful endorsement of our evolution from being a pure-play optical networking company to an end-to-end supplier of cutting-edge wireline and wireless products for fixed and mobile networks. We are currently in an exciting phase of growth and the company stays firmly committed to its goal of maximizing long-term shareholder value through continuous innovation and disciplined execution.”
Tejas Networks Limited [BSE: 540595, NSE: TEJASNET] (the “Company”) today announced that it has executed a Master Contract for supply, support and annual maintenance services of its Radio Access Network (the “RAN”) equipment for BSNL’s Pan-India 4G/5G network, with Tata Consultancy Services Limited (the “TCS”) [BSE: 532540, NSE: TCS].
As a part of this contract, the Company received a Purchase Order from TCS for Rs 7,492 crore (approx. USD 900 million) to supply its latest 4G/5G RAN equipment for approximately 100,000 sites, which will be executed during the calendar years 2023 and 2024. The company won this order after successfully completing extensive trials as part of a consortium led by TCS.
Mr. Anand Athreya, CEO and Managing Director of Tejas Networks said, “We are delighted to be selected as the sole supplier of 4G/5G RAN equipment for one of the largest mobile networks in the world. Our cutting-edge portfolio of baseband and radio products will enable BSNL to roll out a scalable and cost-effective network that meets world-class performance and quality standards. This also furthers our mission to create India’s first global-scale telecom and networking products company with an end-to-end suite of wireless and wireline offerings.”
Mr. Arnob Roy, COO and Executive Director of Tejas Networks said, “We are proud to be a member of the TCS consortium that has put the country on the world map in a highly competitive, deep-technology segment. We are committed to collaborating with our consortium partners to ensure a best-in-class service experience for BSNL subscribers, both consumers and businesses, around the country.”
Dr. Kumar N. Sivarajan, CTO of Tejas Networks said, “Our state-of-the-art 4G/5G RAN products were subjected to rigorous field testing by BSNL for nearly eighteen months before being chosen for this large-scale commercial deployment. This win is a true testament to the engineering excellence and innovation prowess of our R&D team that successfully developed and delivered an industry-leading product in a complex technology area in record time.”
As a part of this contract, the Company received a Purchase Order from TCS for Rs 7,492 crore (approx. USD 900 million) to supply its latest 4G/5G RAN equipment for approximately 100,000 sites, which will be executed during the calendar years 2023 and 2024. The company won this order after successfully completing extensive trials as part of a consortium led by TCS.
Mr. Anand Athreya, CEO and Managing Director of Tejas Networks said, “We are delighted to be selected as the sole supplier of 4G/5G RAN equipment for one of the largest mobile networks in the world. Our cutting-edge portfolio of baseband and radio products will enable BSNL to roll out a scalable and cost-effective network that meets world-class performance and quality standards. This also furthers our mission to create India’s first global-scale telecom and networking products company with an end-to-end suite of wireless and wireline offerings.”
Mr. Arnob Roy, COO and Executive Director of Tejas Networks said, “We are proud to be a member of the TCS consortium that has put the country on the world map in a highly competitive, deep-technology segment. We are committed to collaborating with our consortium partners to ensure a best-in-class service experience for BSNL subscribers, both consumers and businesses, around the country.”
Dr. Kumar N. Sivarajan, CTO of Tejas Networks said, “Our state-of-the-art 4G/5G RAN products were subjected to rigorous field testing by BSNL for nearly eighteen months before being chosen for this large-scale commercial deployment. This win is a true testament to the engineering excellence and innovation prowess of our R&D team that successfully developed and delivered an industry-leading product in a complex technology area in record time.”
Tejas Networks [BSE: 540595, NSE: TEJASNET] today reported its financial results for the first quarter ended June 30, 2023. Tejas Networks designs, develops, manufactures and sells high-performance telecom and networking products, which are used to build high-speed communication networks.
For Q1-FY24, consolidated net revenue was Rs. 187.9 crore, which was a YoY increase of 49.4%, resulting in a loss before tax of Rs. 65.9 crore as compared to loss of Rs. 12.9 crore, for corresponding previous period. Loss after tax was Rs. 26.3 crore as compared to loss of Rs. 6.6 crore for corresponding previous period.
Mr. Anand Athreya, Managing Director and CEO of Tejas Networks said, “In Q1-FY24 we saw a YOY growth of 49%. The QoQ revenue decline was primarily due to transition of EMS facilities and some supply chain challenges. The loss after tax was primarily due to continued investment in R&D for growth and increased component costs due to expedite fees and spot buys to ensure critical customer shipments. We have successfully commissioned the pilot network of 200 sites for the BSNL 4G network and plan to ramp up our supplies in the coming quarters”.
Mr. Venkatesh Gadiyar, CFO said, “As on June 30, 2023, our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, were at Rs. 943 crore and we continue to be a debt-free Company. On the merger of Saankhya with Tejas, on July 06, 2023, the stock exchanges in terms of Regulation 94 of SEBI (LODR) Regulations, 2015, have conveyed their no objection on the Scheme. Currently, we are in the process of filing the Scheme with National Company Law Tribunal (NCLT).”
As on June 30, 2023, Tejas and its subsidiaries have filed for 445 patents of which 267 have been granted.
For Q1-FY24, consolidated net revenue was Rs. 187.9 crore, which was a YoY increase of 49.4%, resulting in a loss before tax of Rs. 65.9 crore as compared to loss of Rs. 12.9 crore, for corresponding previous period. Loss after tax was Rs. 26.3 crore as compared to loss of Rs. 6.6 crore for corresponding previous period.
Mr. Anand Athreya, Managing Director and CEO of Tejas Networks said, “In Q1-FY24 we saw a YOY growth of 49%. The QoQ revenue decline was primarily due to transition of EMS facilities and some supply chain challenges. The loss after tax was primarily due to continued investment in R&D for growth and increased component costs due to expedite fees and spot buys to ensure critical customer shipments. We have successfully commissioned the pilot network of 200 sites for the BSNL 4G network and plan to ramp up our supplies in the coming quarters”.
Mr. Venkatesh Gadiyar, CFO said, “As on June 30, 2023, our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, were at Rs. 943 crore and we continue to be a debt-free Company. On the merger of Saankhya with Tejas, on July 06, 2023, the stock exchanges in terms of Regulation 94 of SEBI (LODR) Regulations, 2015, have conveyed their no objection on the Scheme. Currently, we are in the process of filing the Scheme with National Company Law Tribunal (NCLT).”
As on June 30, 2023, Tejas and its subsidiaries have filed for 445 patents of which 267 have been granted.
Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that it has deployed its TJ1400 family of carrier-class Fiber-to-the-x (FTTx) and Packet Switching Network (PTN) solutions to deliver high-speed fiber connectivity services to businesses across the country for Tata Tele Business Services (TTBS). TTBS is a leading digital solutions provider offering a comprehensive portfolio of data, voice and managed services to Enterprises.
Mr. Arnob Roy, COO & Executive Director of Tejas Networks said, “We are pleased that TTBS has selected Tejas for their access network modernization project. This win is a testament to our emergence as a world-class enterprise access & metro vendor of choice among telecom service providers seeking to deliver high-quality and ultra-reliable communications experience to their subscribers. Tejas is committed to a software enabled transformation approach which significantly lowers the total cost of ownership and provides the highest value to our customers.”
Yogesh Verma, Vice President of Sales at Tejas Networks said “Our field proven TJ1400 product will allow TTBS to address the growing demand for enterprise connectivity and enhanced customer experience. We thank TTBS for reposing their faith in Tejas once again and we look forward to exploring further synergies to enhance end-customer delight”.
“Emerging markets, such as India, are witnessing strong take-up rates for fiber broadband services due to attractive supply-side and demand-side conditions in these countries. Cost per premise passed in India is relatively low due to lower labor costs, use of aerial fiber, and higher population density. Indian consumers are showing a strong willingness to pay for high-quality fiber broadband connections, leading to strong adoption. Tejas Networks is an established GPON/XGS-PON vendor in the Asia and Oceania region and has been winning multiple FTTx contracts in India,” said Julie Kunstler, Chief Analyst for Broadband Access at Omdia.
Mr. Arnob Roy, COO & Executive Director of Tejas Networks said, “We are pleased that TTBS has selected Tejas for their access network modernization project. This win is a testament to our emergence as a world-class enterprise access & metro vendor of choice among telecom service providers seeking to deliver high-quality and ultra-reliable communications experience to their subscribers. Tejas is committed to a software enabled transformation approach which significantly lowers the total cost of ownership and provides the highest value to our customers.”
Yogesh Verma, Vice President of Sales at Tejas Networks said “Our field proven TJ1400 product will allow TTBS to address the growing demand for enterprise connectivity and enhanced customer experience. We thank TTBS for reposing their faith in Tejas once again and we look forward to exploring further synergies to enhance end-customer delight”.
“Emerging markets, such as India, are witnessing strong take-up rates for fiber broadband services due to attractive supply-side and demand-side conditions in these countries. Cost per premise passed in India is relatively low due to lower labor costs, use of aerial fiber, and higher population density. Indian consumers are showing a strong willingness to pay for high-quality fiber broadband connections, leading to strong adoption. Tejas Networks is an established GPON/XGS-PON vendor in the Asia and Oceania region and has been winning multiple FTTx contracts in India,” said Julie Kunstler, Chief Analyst for Broadband Access at Omdia.
