Tejas Networks Ltd
Incorporated in 2000,Tejas Networks Ltd designs and manufactures wireline and wireless networking products, with a focus on technology, innovation and R&D. TNL carrier-class products are used by telecom service providers, utilities, governments, and defence networks in 75+ countries. Company is currently a part of Panatone Finvest Limited (a subsidiary of Tata Sons Private Limited).[1]
- Market Cap ₹ 12,383 Cr.
- Current Price ₹ 702
- High / Low ₹ 1,495 / 647
- Stock P/E 27.5
- Book Value ₹ 219
- Dividend Yield 0.00 %
- ROCE 15.5 %
- ROE 12.8 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 31.4% CAGR over last 5 years
- Company's median sales growth is 35.8% of last 10 years
Cons
- Stock is trading at 3.21 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 5.89% over last 3 years.
- Company has high debtors of 182 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Telecomm Equipment & Infra Services Industry: Telecommunications - Equipment
Part of BSE 500 BSE Teck Nifty Smallcap 100 BSE 250 SmallCap Index BSE Telecommunication
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
395 | 386 | 626 | 862 | 743 | 894 | 386 | 524 | 549 | 871 | 2,370 | 8,916 | |
300 | 318 | 515 | 707 | 589 | 688 | 464 | 459 | 613 | 827 | 2,114 | 7,649 | |
Operating Profit | 94 | 68 | 111 | 155 | 154 | 206 | -78 | 65 | -64 | 44 | 256 | 1,267 |
OPM % | 24% | 18% | 18% | 18% | 21% | 23% | -20% | 12% | -12% | 5% | 11% | 14% |
11 | 10 | 3 | -23 | 27 | 26 | 25 | 13 | 26 | 77 | 64 | 45 | |
Interest | 44 | 46 | 49 | 31 | 13 | 17 | 8 | 4 | 3 | 5 | 35 | 247 |
Depreciation | 56 | 49 | 38 | 56 | 61 | 66 | 77 | 52 | 77 | 105 | 161 | 353 |
Profit before tax | 5 | -17 | 28 | 44 | 107 | 149 | -138 | 22 | -118 | 11 | 124 | 711 |
Tax % | 0% | 0% | 0% | -90% | -0% | 2% | 72% | -67% | -46% | 73% | 34% | 37% |
5 | -17 | 28 | 83 | 107 | 147 | -236 | 37 | -64 | 3 | 82 | 451 | |
EPS in Rs | 0.90 | -2.84 | 4.35 | 11.73 | 11.79 | 15.99 | -25.61 | 4.00 | -5.56 | 0.18 | 4.80 | 25.56 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 6% | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | 37% |
5 Years: | 87% |
3 Years: | 153% |
TTM: | 276% |
Compounded Profit Growth | |
---|---|
10 Years: | 40% |
5 Years: | 31% |
3 Years: | 127% |
TTM: | 450% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 80% |
3 Years: | 15% |
1 Year: | -39% |
Return on Equity | |
---|---|
10 Years: | 4% |
5 Years: | 5% |
3 Years: | 6% |
Last Year: | 13% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 62 | 62 | 67 | 74 | 94 | 95 | 95 | 97 | 118 | 172 | 174 | 180 |
Reserves | 233 | 217 | 303 | 518 | 1,058 | 1,224 | 984 | 1,036 | 1,809 | 2,836 | 3,028 | 3,676 |
287 | 303 | 247 | 281 | 2 | 1 | 28 | 22 | 20 | 48 | 1,884 | 3,407 | |
158 | 131 | 219 | 153 | 169 | 260 | 142 | 160 | 162 | 400 | 2,975 | 3,209 | |
Total Liabilities | 740 | 713 | 836 | 1,026 | 1,323 | 1,580 | 1,249 | 1,315 | 2,109 | 3,455 | 8,061 | 10,471 |
65 | 51 | 94 | 92 | 75 | 99 | 79 | 111 | 138 | 219 | 553 | 1,550 | |
CWIP | 84 | 88 | 52 | 19 | 47 | 41 | 27 | 24 | 40 | 136 | 211 | 1 |
Investments | 5 | 5 | 5 | 5 | 87 | 97 | 62 | 48 | 413 | 557 | 629 | 500 |
586 | 569 | 685 | 911 | 1,114 | 1,342 | 1,082 | 1,131 | 1,519 | 2,543 | 6,668 | 8,420 | |
Total Assets | 740 | 713 | 836 | 1,026 | 1,323 | 1,580 | 1,249 | 1,315 | 2,109 | 3,455 | 8,061 | 10,471 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
19 | 65 | 128 | 136 | 246 | -81 | 1 | 157 | -19 | -369 | -2,088 | -493 | |
-74 | -29 | -50 | -140 | -219 | -104 | 71 | -167 | -828 | -608 | 450 | -655 | |
25 | -30 | -40 | -16 | 157 | -11 | -22 | -3 | 840 | 1,011 | 1,716 | 1,286 | |
Net Cash Flow | -30 | 7 | 38 | -19 | 184 | -197 | 50 | -14 | -7 | 33 | 78 | 138 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 201 | 184 | 145 | 155 | 127 | 248 | 344 | 230 | 183 | 194 | 214 | 182 |
Inventory Days | 379 | 396 | 235 | 129 | 179 | 143 | 469 | 290 | 327 | 410 | 857 | 133 |
Days Payable | 258 | 219 | 203 | 76 | 98 | 129 | 140 | 134 | 137 | 201 | 425 | 67 |
Cash Conversion Cycle | 322 | 362 | 178 | 208 | 208 | 262 | 674 | 387 | 373 | 403 | 645 | 248 |
Working Capital Days | 297 | 292 | 181 | 180 | 253 | 301 | 590 | 382 | 551 | 518 | 491 | 205 |
ROCE % | 9% | 5% | 13% | 14% | 12% | 14% | -10% | 3% | -6% | 1% | 4% | 16% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
1d - Tejas Networks and partners launch Direct-to-Mobile tech in laptops and phones, enabling offline educational content delivery.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 2d
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
25 Apr - Audio recording of Q4 FY25 earnings call available on company website.
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Appointment Of Secretarial Auditor Of The Company
25 Apr - Appointment of V Sreedharan & Associates as Secretarial Auditor for FY2025-26 to FY2029-30.
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Announcement under Regulation 30 (LODR)-Change in Management
25 Apr - Tejas Networks announces Company Secretary retirement, new appointment, and EVP redesignation as KMP effective May-June 2025.
Annual reports
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Product Portfolio[1]
Wireline products: FTTX, Optical Transport, Switches & Routers
Wireless products: 4G/G RAN (Radio Access Network) , SATCOM, Broadcast Radio
Network Management & Monitoring: Network Management, Element Management.