Telecom services company Tejas Networks announced Q2FY24 results: 1. Financial Performance: - Q2 net revenue increased by 80% YoY to Rs 396 Cr. - Loss after tax in Q2 was Rs 13 Cr. - Cash and cash equivalents at the end of Q2 stood at Rs 1,371 Cr. - Order book at the end of Q2 reached a record high of Rs 9,271 Cr. 2. Business Updates: - Tejas Networks won a prestigious order worth Rs 7,492 Cr from TCS to supply 4G/5G RAN equipment for BSNL's pan-India network. Shipment of 1000+ sites has already taken place. - Tejas Networks launched broadband services in Italy through its FiberConnect product portfolio. - The company was selected as a GPON OLT/ONT supplier by two leading regional ISPs in India. - Tejas Networks was chosen for the backbone network of a leading Media and Entertainment company in the US. 3. Awards and Recognition: - Tejas Networks was conferred with the 2023 Leading Lights award in the "Company of the Year (Public)" category, recognizing its technology expertise, strong balance sheet, long-term investment outlook, and customer relationships. - The number of patents granted to Tejas Networks increased to 282. 4. Financial Indicators: - Cash flow from operations in Q2FY24 was Rs (289) Cr. - Net worth stood at Rs 532 Cr. - Inventory increased to Rs 1,401 Cr. - Trade receivables at Rs 487 Cr. - Net working capital decreased by Rs 527 Cr. - Cash and cash equivalents, including investments in liquid mutual funds, bank balances, and others, amounted to Rs 1,371 Cr. 5. Revenue Breakdown: - H1FY24 revenue was Rs 584 Cr, with India Private contributing 48%, India Government contributing 29%, and International contributing 23%. - Critical Infrastructure accounted for 24% of H1FY24 revenue, BSNL/BBNL accounted for 8%, and other segments made up the remaining 68%. Result PDF
Conference Call with Tejas Networks Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.
Other Telecom Services company Tejas Networks announced Q1FY24 results: For Q1FY24, consolidated net revenue was Rs 187.9 crore, which was a YoY increase of 49.4%, resulting in a loss before tax of Rs 65.9 crore as compared to loss of Rs 12.9 crore for Q1FY23. Loss after tax was Rs 26.3 crore as compared to loss of Rs 6.6 crore for Q1FY23. As on June 30, 2023, Tejas and its subsidiaries have filed for 445 patents of which 267 have been granted. Anand Athreya, Managing Director and CEO of Tejas Networks said, “In Q1FY24 we saw a YoY growth of 49%. The QoQ revenue decline was primarily due to transition of EMS facilities and some supply chain challenges. The loss after tax was primarily due to continued investment in R&D; for growth and increased component costs due to expedite fees and spot buys to ensure critical customer shipments. We have successfully commissioned the pilot network of 200 sites for the BSNL 4G network and plan to ramp up our supplies in the coming quarters”. Venkatesh Gadiyar, CFO said, “As on June 30, 2023, our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, were at Rs 943 crore and we continue to be a debt-free company. On the merger of Saankhya with Tejas, on July 06, 2023, the stock exchanges in terms of Regulation 94 of SEBI (LODR) Regulations, 2015, have conveyed their no objection on the Scheme. Currently, we are in the process of filing the Scheme with National Company Law Tribunal (NCLT).” Result PDF