Tejas Networks Ltd

Meeting Details

• Date: July 28, 2026; earnings call for Q1 FY27.

Purpose

• Purpose: Earnings call proceedings for Q1 FY27.

Additional Notes

• Recording available: audio of the earnings call on the company website.

Business Overview

• Core business: telecom network equipment with Wireless and Wireline segments.
• Products include 5G radios, optical transport, and FTTx broadband solutions.
• International growth and end-to-end 5G deployments highlighted.

Key Operational Highlights

• Q1 FY27 revenue 402 Cr; QoQ growth 21% over Q4FY26.
• Net PAT -202 Cr; EBIT -194 Cr; PBT -271 Cr.
• Order book end of Q1: 1,529 Cr.
• Revenue mix: India 50%, International 50%.
• 5G RAN win in South America; end-to-end network for operator.
• 5G mMIMO radio shipments completed with NEC partnership.
• BSNL 4G expansion; Tier-1 Indian telco FTTx footprint expansion.
• 46 patents filed in Q1 FY27; cumulative 722; 380 granted.
• 5G backhaul and enterprise: 100G/400G DWDM to two Tier-1 telcos.
• Utility modernization: vendor for a large power utility.
• Data center, residential and enterprise connectivity growth.

Financial Performance

• Revenue from operations: 402 Cr in Q1 FY27.
• EBIT (loss) -194 Cr; PBT -271 Cr; PAT -202 Cr.
• Inventory 2,358 Cr; trade receivables 2,232 Cr.
• Net Working Capital 4,478 Cr; Cash 589 Cr.
• Net Debt 4,277 Cr; Gross Debt 4,866 Cr.
• Order book end Q1: 1,529 Cr.
• Closing order book mix: India 93%, International 7%.
• Revenue grew 21% QoQ versus Q4FY26.

Capital Structure & Liquidity

• Cash at quarter end: 589 Cr.
• Gross debt: 4,866 Cr; Net debt: 4,277 Cr.
• Debt increased due to capex funding.

Strategic Priorities & Outlook

• Expansion of 5G deployments in emerging markets through 2030.
• Global 5G FWA subscriptions projected to reach ~90 million by 2030.
• Expansion of 4G networks in India and emerging international markets.
• Growth in Data Center Connectivity, Residential and Enterprise Broadband.
• Investments in 5G Advanced and 6G; AI-ready end-to-end networks.

Risks & Mitigation

• Working capital increased due to higher receivables and scheduled payouts impacting liquidity.

Financial highlights

• Q1 FY27 revenue Rs 402 crore; QoQ growth 21%.
• PBT negative Rs 271 crore.
• PAT negative Rs 202 crore.

Key business developments

• First commercial win for end-to-end 5G deployment in South America.
• GPON OLTs supplied to Tier-1 Indian telcos.
• Vendor for modernization of a large power utility.

Balance sheet and orders

• Order book Rs 1,529 crore.
• Net debt Rs 4,277 crore.
• Gross debt Rs 4,866 crore.
• Cash Rs 589 crore.

Intellectual property

• Filed 46 patents in Q1 FY27; cumulative 722.

SMP Appointment

• Type of change: Appointment as Senior Management Personnel (SMP) with immediate effect.
• Name and designation: Preetham Uthaiah, Chief Operating Officer.
• Effective date: 27 July 2026; term not specified.
• Reason: Appointment as Senior Management Personnel.
• Profile: Seasoned telecom/high-tech executive; ex-VP at Tech Mahindra; led roles at Saankhya Labs.
• Relationships: Not applicable.

Approval of results

• Board approved unaudited standalone and consolidated financial results for quarter ended June 30, 2026.
• Limited Review Report by statutory auditors is attached with the results.
• Results and Limited Review Report available on Tejas Networks website.
• Board meeting duration: 1:30 PM to 4:40 PM IST.

Dematerialisation status and listing

• Securities for dematerialisation in the reporting quarter were confirmed to depositories (accepted/rejected).
• Securities dematerialised have been listed on the stock exchanges where the issuer’s existing securities are listed.
• Physical certificates received for dematerialisation were mutilated and cancelled after verification.
• Depository name substituted as registered owner within prescribed timelines.