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Tejas Networks Ltd

Q2 FY26Telecom - Equipment & Accessories

Tejas Networks Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹475

Market cap₹8.5K Cr

Updated16 Oct 2026

Read5 min read

The short version

Tejas Networks is bullish about future growth opportunities driven by technology transitions and increasing data consumption, especially in AI-driven applications and 5G deployments continuing till 2030. - Global wireless and wireline markets represent a $25-30 billion annual opportunity, translating to roughly INR 2 lakh crores, with the company aiming to capture a meaningful market share over time. - The company sees growth from expanding 4G deployment in emerging markets and 5G and Open RAN solutions in developed and developing countries (Africa, Asia, Latin America). - New product launches like 800G and 1.2 terabit optical products and massive MIMO radios bolster competitiveness. - Order book currently Rs. Management maintains a positive and bullish outlook for future business growth based on strong market drivers and technology trends (Page 7, 13, 14).

From Tejas Networks Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.

Revenue & Sales Performance

Tejas Networks is bullish about future growth opportunities driven by technology transitions and increasing data consumption, especially in AI-driven applications and 5G deployments continuing till 2030.
Global wireless and wireline markets represent a $25-30 billion annual opportunity, translating to roughly INR 2 lakh crores, with the company aiming to capture a meaningful market share over time.
The company sees growth from expanding 4G deployment in emerging markets and 5G and Open RAN solutions in developed and developing countries (Africa, Asia, Latin America).
New product launches like 800G and 1.2 terabit optical products and massive MIMO radios bolster competitiveness.

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Profitability & Margins

Management maintains a positive and bullish outlook for future business growth based on strong market drivers and technology trends (Page 7, 13, 14).
Opportunities in wireless and wireline markets globally; total addressable market estimated around $25-30 billion annually (INR ~2 lakh crores) (Page 12).
They aim to participate meaningfully and gain a reasonable market share over time (Page 12).
Continued investments in R&D, product development, and sales expansion to leverage 4G, 5G, Open RAN, and emerging 6G opportunities (Page 6, 7).
No specific earnings/profit or EPS guidance given; management refrains from providing quantified future quarter or multi-year guidance (Page 7, 13, 14).

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Capital Expenditure Plans

The company is incurring CAPEX to ramp up its product portfolio, which is partly funded by borrowings (Page 5).
Significant investments are being made in R&D, product development, and sales expansion to leverage growth opportunities, especially in wireless and optical products (Pages 6-7).
Investments target advanced technologies such as 5G radios including massive MIMO, 400G/800G/1.2T optical products, and development of 50G PON products (Pages 6-7).
The company is also focusing on developing products aligned with the upcoming 6G standards, actively contributing to international standardization bodies (Page 7).

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Fundraising & Capital Structure

There is no explicit mention of any new fundraising through debt or equity in the transcript.
The company currently has borrowings of Rs. 4,166 crores, primarily for working capital due to higher inventory and receivables, and some CAPEX.
Management expects borrowings to come down as working capital is realized.
No specific plans were shared about raising fresh debt or equity in the near term.

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Order Book & Pipeline

Current order book stands at Rs. 1,200 crores as of Q2 FY26, slightly down from Rs. 1,241 crores in Q1.
Order book mix is predominantly India-focused with 93% India and 7% international.
A significant pending order is the BSNL 4G add-on PO for Rs. 1,500 crores related to 18,000 sites.
Although TCS has received the Advance Purchase Order (APO) for this BSNL order, it has not been converted into a formal Purchase Order (PO) yet.
The issuance of the PO from BSNL is awaited, expected within the current financial year but actual shipments may spill over based on timing.

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Tejas Networks Ltd — Quarterly revenue & net profit

Revenue Net profit Net loss

Jun 2025Q1 FY26

Sep 2025Q2 FY26

Dec 2025Q3 FY26

Mar 2026Q4 FY26

Jun 2026Q1 FY27

Sep 2026Q2 FY27

Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹406 Cr, net loss ₹207 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Tejas Networks Ltd's management said in earlier quarters

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Frog Innovations (Q2 FY26)
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Frequently Asked Questions

What were Tejas Networks Ltd Q2 FY26 results?

Tejas Networks is bullish about future growth opportunities driven by technology transitions and increasing data consumption, especially in AI-driven applications and 5G deployments continuing till 2030. - Global wireless and wireline markets represent a $25-30 billion annual opportunity, translating to roughly INR 2 lakh crores, with the company aiming to capture a meaningful market share over time. - The company sees growth from expanding 4G deployment in emerging markets and 5G and Open RAN solutions in developed and developing countries (Africa, Asia, Latin America). - New product launches like 800G and 1.2 terabit optical products and massive MIMO radios bolster competitiveness. - Order book currently Rs. Management maintains a positive and bullish outlook for future business growth based on strong market drivers and technology trends (Page 7, 13, 14).

What is Tejas Networks Ltd share price analysis?

Tejas Networks Ltd currently shows a neutral. The stock trades at a P/E of N/A with a market cap of ₹8,463 Cr. Investors should review the full earnings analysis for detailed insights.

Is Tejas Networks Ltd planning capital expenditure?

The company is incurring CAPEX to ramp up its product portfolio, which is partly funded by borrowings (Page 5).

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.