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Tejas Networks [BSE: 540595, NSE: TEJASNET] today reported its financial results for the fourth quarter ended March 31, 2024. 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, “Q4-FY24 has been a milestone quarter for the company. With our strong revenue growth, we have achieved the scale in our business that reflects in our profitability in line with the significant investments that we have made during FY24. We not only ramped up BSNL’s 4G/5G RAN shipments, but also completed the delivery of the large volume of IP/MPLS routers for the backhaul network. During Q4, we were granted 22 patents, taking our total patent count to 335.”
Mr. Sumit Dhingra, CFO said, “Our consolidated revenue for Q4-FY24 and FY24 were significantly higher than the corresponding numbers in FY23. During FY24 we have made major investments to ramp up our R&D team and operations which are essential to deliver the growth potential of the company. We completed FY24 with a net profit of Rs. 63 crore, a strong order book of Rs. 8,221 crore.” As on December 31, 2023, Tejas and its subsidiaries have filed for 445 patents of which 313 have been granted.
| Amount in Rs. cr | ||||
|---|---|---|---|---|
| Q4-FY24 | Q4-FY23 | FY24 | FY23 | |
| Net Revenue | 1,326.9 | 299.3 | 2,470.9 | 921.5 |
| PBT | 232.6 | (27.0) | 100.2 | (42.7) |
| PAT | 146.8 | (11.5) | 63.0 | (36.4) |
Mr. Sumit Dhingra, CFO said, “Our consolidated revenue for Q4-FY24 and FY24 were significantly higher than the corresponding numbers in FY23. During FY24 we have made major investments to ramp up our R&D team and operations which are essential to deliver the growth potential of the company. We completed FY24 with a net profit of Rs. 63 crore, a strong order book of Rs. 8,221 crore.” As on December 31, 2023, Tejas and its subsidiaries have filed for 445 patents of which 313 have been granted.
Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that it has signed a Memorandum of Understanding (MoU) with Telecom Egypt (TE), ITIDA (Information Technology Industry Development Agency) and NTI (National Telecom Institute) to replicate its experience of implementing Bharatnet (Rural Broadband Project) and NKN (National Knowledge Network) projects in Egypt. Other broad areas of cooperation include capacity building of Egyptian engineers and technicians on state-of-the-art telecom and networking technologies, establishing local manufacturing and R&D facilities for Fiber-to-the-Home (FTTH) products, and setting up technical support services in Egypt both for customers within the country as well as for the larger Africa and Middle East region.
Hon’ble Dr. Amr Talaat, Minister of Communications and Information Technology of Egypt said, “Today’s MoU with Tejas Networks is one of the fruits of discussions that began in January 2023 to enhance cooperation between Egypt and India in the field of communications and information technology. It is a comprehensive agreement that seeks to promote localization of world-class communications products, inject new Indian investments into Egypt, create job opportunities, and develop research cadres in various fields of communications.”
Speaking on the occasion, Eng. Mohamed Nasr El-Din, CEO and Managing Director of Telecom Egypt said, “We are delighted to enter into a long-term strategic partnership with Tejas Networks, India’s leading R&D-driven telecom and networking products company and a part of the Tata Group. Telecom Egypt has been consistently working towards enhancing its network infrastructure and developing its technical capabilities through cooperation with the largest companies in the world. The present MoU is aimed at providing Telecom Egypt with the latest communications technology in the world while ensuring that it provides the highest quality of infrastructure services.”
Mr. Anand Athreya, CEO and Managing Director of Tejas Networks said, “Our MoU with Telecom Egypt is an important milestone for both organizations as we jointly strive to accelerate the vision of a Digital Egypt by leveraging the best practices and learnings from Tejas’s experience of successfully designing and delivering 500+ complex, carrier-class networks in India and beyond. We are committed to serving as a trusted advisor and technology partner for Egypt’s digital transformation journey while nurturing its local ecosystem in telecom manufacturing, R&D, network planning, installation and maintenance.”
Mr. Yogesh Verma, Vice President, Middle East and Africa (MEA) said, “Tejas has been operating in MEA for over a decade now and has extensive knowledge and insights about the local requirements and operating conditions to roll out cost-effective and scalable networks. Moreoever, with our recent commercialization of 4G & 5G RAN products, the company now has an end-to-end portfolio to build both fixed and mobile networks. This MoU provides a great platform for us to expand our business in MEA while deepening our collaboration with Telecom Egypt and other customers in the country.”
About Telecom Egypt (WE)
Telecom Egypt is the first total telecom operator in Egypt providing all telecom services to its customers including fixed and mobile voice and data services. Telecom Egypt has a long history serving Egyptian customers for over 160 years maintaining a leadership position in the Egyptian telecom market by offering the most advanced technology, reliable infrastructure solutions and the widest network of submarine cables. The company also owns a 45% stake in Vodafone Egypt.
For more information, visit Telecom Egypt at https://www.te.eg
Hon’ble Dr. Amr Talaat, Minister of Communications and Information Technology of Egypt said, “Today’s MoU with Tejas Networks is one of the fruits of discussions that began in January 2023 to enhance cooperation between Egypt and India in the field of communications and information technology. It is a comprehensive agreement that seeks to promote localization of world-class communications products, inject new Indian investments into Egypt, create job opportunities, and develop research cadres in various fields of communications.”
Speaking on the occasion, Eng. Mohamed Nasr El-Din, CEO and Managing Director of Telecom Egypt said, “We are delighted to enter into a long-term strategic partnership with Tejas Networks, India’s leading R&D-driven telecom and networking products company and a part of the Tata Group. Telecom Egypt has been consistently working towards enhancing its network infrastructure and developing its technical capabilities through cooperation with the largest companies in the world. The present MoU is aimed at providing Telecom Egypt with the latest communications technology in the world while ensuring that it provides the highest quality of infrastructure services.”
Mr. Anand Athreya, CEO and Managing Director of Tejas Networks said, “Our MoU with Telecom Egypt is an important milestone for both organizations as we jointly strive to accelerate the vision of a Digital Egypt by leveraging the best practices and learnings from Tejas’s experience of successfully designing and delivering 500+ complex, carrier-class networks in India and beyond. We are committed to serving as a trusted advisor and technology partner for Egypt’s digital transformation journey while nurturing its local ecosystem in telecom manufacturing, R&D, network planning, installation and maintenance.”
Mr. Yogesh Verma, Vice President, Middle East and Africa (MEA) said, “Tejas has been operating in MEA for over a decade now and has extensive knowledge and insights about the local requirements and operating conditions to roll out cost-effective and scalable networks. Moreoever, with our recent commercialization of 4G & 5G RAN products, the company now has an end-to-end portfolio to build both fixed and mobile networks. This MoU provides a great platform for us to expand our business in MEA while deepening our collaboration with Telecom Egypt and other customers in the country.”
About Telecom Egypt (WE)
Telecom Egypt is the first total telecom operator in Egypt providing all telecom services to its customers including fixed and mobile voice and data services. Telecom Egypt has a long history serving Egyptian customers for over 160 years maintaining a leadership position in the Egyptian telecom market by offering the most advanced technology, reliable infrastructure solutions and the widest network of submarine cables. The company also owns a 45% stake in Vodafone Egypt.
For more information, visit Telecom Egypt at https://www.te.eg
Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that the company has won the prestigious 2023 Voice and Data Excellence award in the “Make in India” category for its state-of-the-art TJ1400 Access and Aggregation Routers. The award was conferred at the 23rd edition of Voice and Data’s Telecom Leadership Forum held in New Delhi earlier today.
Arnob Roy, COO & Executive Director of Tejas Networks said, “We are delighted to win the prestigious Voice and Data award for our Carrier Routing products which is a strong endorsement of our world-class capabilities in a highly complex and critical technology area. The advent of 5G, coupled with an accelerated adoption of multi-gigabit home broadband and enterprise cloud services, has significantly expanded the addressable market for our high-capacity packet switching and routing products. Our terabit-scale access and aggregation routers are designed with several innovative features to enable service providers to build high-performance and cost-efficient IP networks. Based on our pioneering Software-defined Hardware™ architecture, TJ1400’s novel ultra-converged broadband architecture is powering large-scale 4G/5G mobile RAN, backhaul and broadband rollouts globally.”
Arnob Roy, COO & Executive Director of Tejas Networks said, “We are delighted to win the prestigious Voice and Data award for our Carrier Routing products which is a strong endorsement of our world-class capabilities in a highly complex and critical technology area. The advent of 5G, coupled with an accelerated adoption of multi-gigabit home broadband and enterprise cloud services, has significantly expanded the addressable market for our high-capacity packet switching and routing products. Our terabit-scale access and aggregation routers are designed with several innovative features to enable service providers to build high-performance and cost-efficient IP networks. Based on our pioneering Software-defined Hardware™ architecture, TJ1400’s novel ultra-converged broadband architecture is powering large-scale 4G/5G mobile RAN, backhaul and broadband rollouts globally.”
Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that the company has received Rs 27.78 crore as incentives for the fiscal year 2022-’23 under the PLI (Production-Linked Incentive) Scheme for Telecom and Networking Products. The said amount accounts for 85% of the total claim for FY23 and the balance 15% is expected to be released subsequently in accordance with the PLI Scheme Guidelines.
Mr. Anand Athreya, CEO and Managing Director of Tejas Networks said, “We thank the Empowered Committee for PLI Scheme, Department of Telecommunications (DoT) and SIDBI for approving our incentive application for FY23. Government of India’s design-linked PLI is an excellent scheme that has given a massive boost to indigenous telecom R&D and manufacturing by kickstarting a virtuous cycle of domestic innovation in this sector. As the country’s leading home-grown telecom and networking products company, we continue to make the committed R&D and other capital investments to scale-up our business globally and accelerate our vision to be a top-tier telecom OEM in the next few years.
The company is eligible to receive design-linked PLI incentives for five years, starting with fiscal year 2022-’23, on meeting the minimum cumulative investment of Rs 750 crore committed during the scheme period. As per the scheme guidelines, the quantum of incentives in each year will be a proportion of the company’s incremental net sales of the approved products under the scheme generated in that year over the net eligible sales done in the baseline year (2019-’20).
Mr. Anand Athreya, CEO and Managing Director of Tejas Networks said, “We thank the Empowered Committee for PLI Scheme, Department of Telecommunications (DoT) and SIDBI for approving our incentive application for FY23. Government of India’s design-linked PLI is an excellent scheme that has given a massive boost to indigenous telecom R&D and manufacturing by kickstarting a virtuous cycle of domestic innovation in this sector. As the country’s leading home-grown telecom and networking products company, we continue to make the committed R&D and other capital investments to scale-up our business globally and accelerate our vision to be a top-tier telecom OEM in the next few years.
The company is eligible to receive design-linked PLI incentives for five years, starting with fiscal year 2022-’23, on meeting the minimum cumulative investment of Rs 750 crore committed during the scheme period. As per the scheme guidelines, the quantum of incentives in each year will be a proportion of the company’s incremental net sales of the approved products under the scheme generated in that year over the net eligible sales done in the baseline year (2019-’20).
Tejas Networks [BSE: 540595, NSE: TEJASNET] today reported its financial results for the third quarter ended December 31, 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 Q3-FY24 we had a strong revenue growth . We ramped up shipments for BSNL’s 4G network – both RAN equipment and IP/MPLS routers for the backhaul network. We have also deployed several strategic networks for Telcos and Utilities in India and global markets. A notable highlight has been our subsidiary, Saankhya Lab’s strategic win for deployment of its two-way Satcom Xponders for communication and support system on marine fishing vessels
Mr. Sumit Dhingra, CFO said, “Our consolidated Revenue for Q3-FY24 was Rs. 560 crore – which is more than double the revenue of Q3-FY23. We continue to make investments to ramp up our R&D team and operations which are essential to deliver the growth potential of the company. Our net loss for the quarter was Rs. 45 crore. We have a strong order book of Rs. 9,028 crore. As on December 31, 2023, our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, were at Rs. 559 crore.”
As on December 31, 2023, Tejas and its subsidiaries have filed for 445 patents of which 313 have been granted.
| Amount in Rs. cr | ||||
|---|---|---|---|---|
| Q3-FY24 | Q3-FY23 | 9M-FY24 | 9M-FY23 | |
| Net Revenue | 560.0 | 274.6 | 1,143.8 | 620.3 |
| PBT | (48.8) | (9.4) | (132.4) | (15.6) |
| PAT | (44.9) | (15.2) | (83.8) | (25.0) |
Mr. Anand Athreya, Managing Director and CEO of Tejas Networks said, “In Q3-FY24 we had a strong revenue growth . We ramped up shipments for BSNL’s 4G network – both RAN equipment and IP/MPLS routers for the backhaul network. We have also deployed several strategic networks for Telcos and Utilities in India and global markets. A notable highlight has been our subsidiary, Saankhya Lab’s strategic win for deployment of its two-way Satcom Xponders for communication and support system on marine fishing vessels
Mr. Sumit Dhingra, CFO said, “Our consolidated Revenue for Q3-FY24 was Rs. 560 crore – which is more than double the revenue of Q3-FY23. We continue to make investments to ramp up our R&D team and operations which are essential to deliver the growth potential of the company. Our net loss for the quarter was Rs. 45 crore. We have a strong order book of Rs. 9,028 crore. As on December 31, 2023, our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, were at Rs. 559 crore.”
As on December 31, 2023, Tejas and its subsidiaries have filed for 445 patents of which 313 have been granted.
Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that it won two prestigious awards for its optical and broadband innovations at national and international events last week. The company was recognized for its “Leading PON-based Smart City” solutions at the Network X event held in Paris and its flagship TJ1600 optical and packet transmission product was selected as the “Best Indian IPR of the Year in Telecom” at the India Mobile Congress (IMC), New Delhi. Tejas had a prominent presence at both the events and its booth attracted many senior government dignitaries, key telco decision makers and industry luminaries both from India and abroad.
Mr. Anand Athreya, CEO & Managing Director of Tejas Networks said, “The IMC and Network X awards reaffirm our ability to deliver smart and comprehensive network infrastructure solutions that enable telcos, broadband operators and governments build high-capacity and cost-efficient fiber networks to deliver premium services and fuel local economies. The company had a highly impactful show at the two events which provided us a great opportunity to strengthen our global branding and customer relationships by showcasing our leading-edge network portfolio and extensive R&D capabilities in cellular, optical, broadcast and satellite communication technologies. We are committed to sustain and build on this momentum to realize our vision to be a global top-tier telecom and networking OEM in the coming years.
Mr. Arnob Roy, Chief Operating Officer & Executive Director of Tejas Networks said, “We are delighted at the enthusiastic response and industry accolades we received at IMC and Network X, two highly reputed global telecom sector events in Asia and Europe. The awards underscore our growing stature as a leading global supplier of innovative wireline and wireless product offerings. Further, the events served as a great platform to display several recent additions to our network portfolio in diverse areas such as advanced multi-band 4G/5G radios, multi-technology 5G xHaul using WDM, xPON and IP/MPLS, and multi-terabit optical transmission with C+L band support.”
Mr. Anand Athreya, CEO & Managing Director of Tejas Networks said, “The IMC and Network X awards reaffirm our ability to deliver smart and comprehensive network infrastructure solutions that enable telcos, broadband operators and governments build high-capacity and cost-efficient fiber networks to deliver premium services and fuel local economies. The company had a highly impactful show at the two events which provided us a great opportunity to strengthen our global branding and customer relationships by showcasing our leading-edge network portfolio and extensive R&D capabilities in cellular, optical, broadcast and satellite communication technologies. We are committed to sustain and build on this momentum to realize our vision to be a global top-tier telecom and networking OEM in the coming years.
Mr. Arnob Roy, Chief Operating Officer & Executive Director of Tejas Networks said, “We are delighted at the enthusiastic response and industry accolades we received at IMC and Network X, two highly reputed global telecom sector events in Asia and Europe. The awards underscore our growing stature as a leading global supplier of innovative wireline and wireless product offerings. Further, the events served as a great platform to display several recent additions to our network portfolio in diverse areas such as advanced multi-band 4G/5G radios, multi-technology 5G xHaul using WDM, xPON and IP/MPLS, and multi-terabit optical transmission with C+L band support.”
