Other Telecom services firm Tejas Networks announced Q3FY23 results: Consolidated Q3FY23: Net revenue was Rs 274.6 crore, which was a YoY increase of 156.4%, resulting in a loss before tax of Rs 5.1 crore as compared to a loss of Rs 32.9 crore, for the corresponding previous period. Loss after tax was Rs 10.9 crore as compared to a loss of Rs 24.3 crore for the corresponding previous period. Effective Q2FY23 Saankhya Labs and its subsidiaries (Saankhya) financials have been consolidated - and the above revenue includes Rs 21 crore from Saankhya - for Q3FY23. Consolidated 9MFY23: Net revenue was Rs 620.3 crore, which was a YoY increase of 46.3%, resulting in a loss before tax of Rs 7.1 crore as compared to a loss of Rs 21.2 crore, for the corresponding previous period. Loss after tax was Rs 16.4 crore as compared to a loss of Rs 13.1 crore for the corresponding previous period. Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, "We continue to see strong business momentum with a robust order book of Rs 1,431 crore and a good pipeline of large orders for our optical as well as wireless products. Our revenue growth has been constrained due to shortages of semiconductor chips, many of which still have long-lead times. To mitigate this, we have re-engineered and improved our supply chain processes which has resulted in consistent revenue growth. We continue to increase our investments, especially in the 4G/5G products, in line with our business growth plans" Mr. Venkatesh Gadiyar, CFO said, "As on December 31, 2022 our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, were at Rs 1,221 crore and we continue to be a debt-free Company. On February 03, 2023 we have received an investment of Rs 300 crore from Pantone Finvest Limited (a subsidiary of Tata Sons Private Limited.), towards final subscription of Series-B Warrants, for which equity shares have been allotted on February 06, 2023." Result PDF
Telecom services company Tejas Networks announced Q2FY23 results: Q2FY23 revenue was Rs. 219.9 crore and H1FY23 revenue was Rs.345.7 crore Q2FY23 Net profit was Rs.1.1 crore and H1FY23 loss was Rs.5.6 crore Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, "We continue to see strong order inflow for our optical products, resulting in all-time high order book of Rs 1,455 crore. We have been re-engineering our supply chain processes and have made substantial improvements during Q2, which will yield better results in the coming quarters. With the launch of our 4G and 5G products, we are well positioned to scale our wireless business in addition to our existing optical business. The integration of Saankhya Labs is progressing well and this has strengthened our R&D; investments for 5G development". Mr. Venkatesh Gadiyar, CFO said, "During Q2, we made investment in Saankhya Labs amounting to Rs.284 crore and as on September 30, 2022, our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, were Rs.1,402 crore and we continue to be a debt-free Company. We have also started the merger process for acquisition of the balance 35.60% of Saankhya Labs shares, into our company". Result PDF
Conference Call with Tejas Networks Management and Analysts on Q1FY23 Performance and Outlook. Listen to the full earnings transcript.
Telecom Services company Tejas Networks announced Q1FY23 results: For Q1FY23, consolidated net revenue was Rs. 125.8 crore, which was a YoY decrease of 12.8%, resulting in a loss before tax of Rs. 12.9 crore as compared to a profit of Rs. 8.3 crore, for corresponding previous period. Loss after tax was Rs. 6.6 crore as compared to a profit of Rs. 7.6 crore for corresponding previous period. Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, "We continued to experience supply chain challenges and we could not manufacture enough products to make complete, balanced shipments against our open orders. We are re-engineering our supply chain processes and IT tools, to better manage the unpredictability of component supplies. With these changes, along with our strong order book of Rs 1,158 crores and advance inventory actions, we expect to see better revenue performance in the coming quarters. We continue to increase our R&D; and manufacturing investments for 4G and 5G wireless products and are seeing a good pipeline of business building up". Mr. Venkatesh Gadiyar, CFO said, "During Q1, we saw margin pressure due to industry-wide increase in component prices over last few quarters, which we could not pass on to some of our customers with whom we had agreed for fixed price deals. Our cash position continues to be healthy and as on June 30, 2022 our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, were Rs. 1,739 crore and we continue to be a debt-free Company". Result PDF
Tejas Networks posts a loss of Rs 62.7 crore in Q4FY22 due to global chip supply shortage Telecom Services firm Tejas Networks declares Q4FY22 result: Q4 revenue was Rs. 126.5 crore and FY 22 revenue was Rs. 550.6 crore Q4 loss was Rs. 49.6 crore and FY 22 loss was Rs. 62.7 crore For Q4-FY22, consolidated net revenue was Rs. 126.5 crore, which was a YoY decrease of 37.2%, resulting in a loss before tax of Rs. 95.9 crore as compared to a profit of Rs. 18.5 crore, for corresponding previous period. Loss after tax was Rs. 49.6 crore as compared to profit of Rs. 33.6 crore for corresponding previous period. For FY 22, net revenue was Rs. 550.6 crore, which was a YoY increase of 6.9%, resulting in a loss after tax of Rs. 62.7 crore, as compared to a profit of Rs. 37.5 crore for corresponding previous period. Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “We are disappointed that our Q4 revenues were below our expectations. This was due to the ongoing global chip supply shortages and despite our best efforts, we could not manufacture enough products to fulfil open orders. However, we continue to see a positive business momentum with strong Q4 order inflow of Rs. 316 crores, increasing our total order book to an all-time high of Rs 1,175 crores. We have already taken advance inventory actions for securing components for our planned revenues for next 12 months and we believe that we will be able to effectively address the challenges of the ongoing semiconductor component shortages. We are also pleased that our 4G Radio Access Network (RAN) equipment, as a part of the indigenous 4G solution, has successfully passed the Proof-of-Concept field tests in the network of a large Indian telecom operator.” Mr. Venkatesh Gadiyar, CFO said, “During Q4, we saw margin pressure due to increase in component prices and lower international revenues. Our cash position continues to be healthy and as on March 31, 2022 our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, were Rs. 1,102 crores and we continue to be a debt-free Company”. Result PDF
Conference Call with Tejas Networks Management and Analysts on Q4FY22 Performance and Outlook. Listen to the full earnings transcript.