Tejas Networks (TEJASNET) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 revenue reached INR 402 crores, a 21% increase quarter-on-quarter, with equal contributions from India and international markets.

• Net loss after tax for the quarter was INR 202 crores, improving from INR 211 crores in Q4 FY26.

• Order book stood at INR 1,529 crores, with 93% from India and 7% international, reflecting recent domestic wins.

• Achieved first commercial end-to-end 5G network deployment win in South America and strong international 5G radio shipments.

• Filed 46 new patents, bringing the global total to 722.

Financial highlights

• Revenue for Q1 was INR 402 crores, up from INR 333 crores in Q4 FY26 and INR 202 crores in Q1 FY26.

• PAT was negative INR 202 crores, compared to INR 211 crores in Q4 FY26 and INR 194 crores in Q1 FY26.

• Cash and cash equivalents increased to INR 589 crores, with net borrowings at INR 4,277 crores.

• Inventory reduced to INR 2,358 crores, reflecting advanced procurement for anticipated orders.

• Net receivables increased to INR 2,232 crores, impacting working capital.

Outlook and guidance

• AMC revenues with higher margins are set to begin in the next few quarters and will be recognized over eight years.

• Path to profitability focuses on business growth, leveraging global partnerships, optimizing expenses, and reducing working capital; positive EBITDA and EBIT targeted within 12-18 months.

• Continued investments in 5G-Advanced, 6G, and AI-driven network products to support future growth.

• Financial statements prepared in accordance with Ind AS 34 and SEBI regulations, with no material misstatements identified.