TEJASNETTelecommunication

Tejas Networks Limited

Telecom - Equipment & Accessories · ISIN INE010J01012 · BSE 540595 · NSE EQ · FV ₹10
Last price
₹524
+1.84%today
What this company does

Tejas Networks Limited operates in Telecom - Equipment & Accessories, part of the Telecommunication sector. It booked ₹402 cr of revenue in its latest quarter (Q1 FY27) and kept -50.3% of sales as profit. It is the 4th largest of 8 Telecom - Equipment & Accessories companies we track, by market value.

Their stated vision

is to shape the future of trusted networks and mobility to support emerging need to connect people and things.

In the report:
32out of 100
Equitytale Health Score
Strained

Healthier than 32% of companies in Telecommunication, on all six measures of filed financials. Each measure is ranked against the 14–24 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
45

At close. Not part of the score.

Profitability & returns1

How much profit it earns on the money it employs · lowest in its sector on what we could measure

Balance sheet12

How much it owes, and whether earnings cover the interest

Cash quality10

Whether reported profit actually arrives as cash

Growth & consistency63

Whether sales and profit have grown, and how steadily

Valuation57

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Some things to watch
Strengths
Sales up 99% vs last year
Promoters hold 53%
No promoter shares pledged
Watch-outs
! Currently loss-making
! Thin -50.3% net margin
! Low -27.6% return on equity
! Carries high debt (D/E 1.4)
! Operating cash flow is negative

What if I invest in TEJASNET?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹524 +1.84%
latest close · 2026-09-17
1-year return
+45.9%
52-wk low ₹35152-wk high ₹623
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/B ratio3.24High
Below bookModerateHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity-27.6%Loss
WeakFairStrong ▸15%
Return on capital-20.4%Loss
WeakFairStrong
Net margin-50.3%Loss
ThinDecentStrong
EBITDA margin-22.7%Loss
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity1.38High
LowModerateHigh ▸1
Interest cover-2.2×Risky
RiskyOkayStrong ▸5×
Current ratio1.20Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹9,502 cr
Book value
₹162
EPS
₹-11.37
latest quarter
Net debt
₹3,933 cr
owes more than its cash
Enterprise value
₹13,435 cr
EBITDA
₹-366 cr
annualised
EBIT
₹-743 cr
annualised
Operating margin
-46.2%
Return on assets
-8.6%
Earnings yield
P/S
5.91
Sales / share
₹88.8
Tax rate
Face value
₹10
Shares
18.1 cr
Working capital
₹1,144 cr
Current assets
₹6,898 cr
Current liabilities
₹5,754 cr
Delivery %
22.5%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹1₹1, midpoint ₹1

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹402 cr
Other Income₹9 cr
Total Income₹411 cr
Cost of Materials₹132 cr
Purchases of Stock-in-Trade₹16 cr
Inventory Change (±)₹109 cr
Employee Benefit Expense₹105 cr
Finance Costs₹85 cr
Depreciation & Amortisation₹94 cr
Other Expenses₹140 cr
Total Expenses₹682 cr
Profit before Tax₹-271 cr
Tax Expense₹-69 cr
Net Profit₹-202 cr
Net margin on total income-49.2%
Where the money goes · Q1 FY27
% of total spend
Materials + stock-in-trade₹257 cr37.7%
Employee benefit expense₹105 cr15.4%
Finance costs₹85 cr12.5%
Depreciation & amortisation₹94 cr13.8%
Other expenses₹140 cr20.5%
Total income ₹411 cr

The company made a net loss of ₹202 cr this quarter — income covered only 60 of every ₹100 it spent on costs and tax.

Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue307 cr333 cr402 cr
Total income314 cr343 cr411 cr
Expenses617 cr624 cr682 cr
Profit before tax-303 cr-281 cr-271 cr
Tax-106 cr-69 cr-69 cr
Net profit (owners' share)-197 cr-211 cr-202 cr
Net margin (owners' share, on revenue)-64.1%-63.5%-50.3%
EPS (₹)-11.09-11.90-11.37
YoY (latest quarter): total income +94.4% · net profit
Balance sheet & cash flow · as of Mar 2026
High debt
Total assets
₹9,403 cr
Shareholder equity
₹2,931 cr
parent shareholders
Total debt
₹4,035 cr
Cash
₹103 cr
Cash flow · H1 FY26
Operating
₹-510 cr
Investing
₹-398 cr
Financing
₹632 cr
Peer comparison
Telecom - Equipment & Accessories · by market value
CompanyPriceMarket capP/E
Sterlite Technologies Limited₹827₹40,545 cr51.3
Tamilnadu Telecommunication Limited₹9₹40,232 cr2.9
ITI Limited₹255₹24,582 cr
Tejas Networks Limitedthis company₹524₹9,502 cr
Optiemus Infracom Limited₹610₹5,410 cr63.8
Birla Cable Limited₹402₹1,205 cr9.8
UMIYA BUILDCON LIMITED₹98₹183 cr188.4
Aksh Optifibre Limited₹8₹130 cr6.9
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
trailing 12 months
Dividend / share (TTM)
Last dividend
₹2.5
ex 19 Jun 2025
ActionDetailEx-date
Dividend₹2.5 / share19 Jun 2025
Dividend₹1 / share17 Jul 2019
Who owns it · 2026-06-30
No pledge
Promoter
53.3%
FII / Foreign
5.8%
DII / Domestic
4.0%
Retail / others
36.7%
Promoter stake down 2.6% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtANAND SUBRAMANIAM ATHREYA · Director32,083 · ₹3.2 L30 May 25
BoughtKUMAR N SIVARAJAN · Employees/Designated Employees68,500 · ₹47.7 L23 May 25
BoughtANAND SUBRAMANIAM ATHREYA · Director93,018 · ₹9.3 L23 May 25
Bulk / block deals
short · NSE264 Sep 26
SoldQE SECURITIES LLP · NSE9.72 L @ ₹609.754 Sep 26
BoughtQE SECURITIES LLP · NSE9.28 L @ ₹607.314 Sep 26
Stake changes
SoldNippon India Mutual Fund→ 3.03% · 2.15 L21 Apr 26
SoldEast Bridge Capital Master Fund Ltd., East Bridge Capital Master Fund I Ltd.→ 3.77% · 62,19817 Jul 23
BoughtPanatone Finvest Limited alongwith PAC · promoter→ 56.38% · 1.55 cr6 Feb 23
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 22 Nov 2025
See the official result
1
APPOINTMENT OF DR. RANDHIR THAKUR (DIN: 09154242) AS A DIRECTOR (NON-EXECUTIVE, NON-INDEPENDENT) OF THE COMPANY
Backed by 99% of shareholders other than promotersneeded 50%
1.77 cr votes for, 98,761 against · 1% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 75 named members
owning 53.3% between them · as of 2026-06-30
Panatone Finvest Limited53.33%
Akashastha Technologies Private Limitedno shares
Campaign Registry Incno shares
Commotion Inc.no shares
Commotion Software Solutions India Private Limitedno shares
ITXC IP Holdings S.A.R.L.no shares
Kaleyra Africa (Pty) Limitedno shares
Kaleyra Dominicana SRLno shares
Business done with them
FY2026 · 6 of the group
The company paid ₹35 cr to companies in the promoter group last year — about 3.2% of its ₹1,103 cr revenue and received ₹60 cr back from them.
TATA COMMUNICATIONS LIMITED
Sold goods to them · Revenue from sale of goods, Communication
₹60 cr
company received
Panatone Finvest Limited
Other payments to them · Dividend paid
also owns 53.33% of the company
₹24 cr
company paid
TATA COMMUNICATIONS LIMITED
Paid them for services · Revenue from sale of goods, Communication
₹7 cr
company paid
Tata Sons Private Limited
Other payments to them · Brand equity subscription fees
₹2 cr
company paid
Tata Communications (Italy) SRL
Paid them for services · Revenue from rendering of services
₹1 cr
company paid
TATA COMMUNICATIONS LIMITED
Other payments to them · Revenue from sale of goods, Communication
₹73 L
company paid
The Switch Enterprises, LLC.
Paid them for services · Revenue from sale of goods , Revenue from rendering of services
₹23 L
company paid
Tata Communications (America) Inc.
Paid them for services · Revenue from sale of goods
₹19 L
company paid
Tata Communications (America) Inc.
Sold goods to them · Revenue from sale of goods
₹8 L
company received

The company also transacted with 21 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.