Tejas Networks (BSE:540595, NSE:TEJASNET) is India's largest R&D-driven telecom equipment company, founded by technocrats, with over 2300 employees. Tejas designs, manufactures and sells leading-edge telecom products used by communication service providers, utilities, defence and government entities in over 75 countries. Founded in 2000 by Sanjay Nayak with initial funding from Gururaj Deshpande. They were later joined by Kumar Sivarajan (an academic at Indian Institute of Science, Bangalore and author of a book on optical fiber) along with Arnob Roy (an ex-colleague of Nayak).
Tejas Networks is a part of the Tata Group. In April 2022, Tata Sons, through Panatone Finvest Limited, increased its shareholding of Tejas Networks to 52.45%, and thus, acquired the majority of Tejas' shares. Promoter Holding: 53.8% as of March 2025. The company is headquartered in Bengaluru, Karnataka, and operates as a global enterprise with a presence across multiple continents.
The company has a full range of products for building end-to-end networks including wireless (4G/5G), optical transmission (DWDM, OTN) and packet switching (Ethernet, IP/MPLS) that can be managed by a universal, multi-technology network management system. The company provides an extensive portfolio of wireless (4G/5G), optical, broadband and data networking products that are used by telecommunications service providers, internet service providers, utility companies, defence and government entities in 75+ countries.
The company is a top-10 global supplier in the optical aggregation and broadband access segments, has filed 520+ patents and is ranked amongst Top-3 listed companies in India, in terms of percentage of revenues spent on R&D. With over 60% of our workforce dedicated to research and development, our extensive R&D focus is evident. This focus has resulted in a robust intellectual property portfolio exceeding 445 global patents and 330+ silicon IPs.
Tejas solutions power over 500 networks across 75+ countries worldwide. We are trusted by several industry leaders, including three of the world's largest mobile operators (by subscriber base), the top three wholesale bandwidth providers in Africa, a majority of India's utility networks, and the world's largest rural broadband network. Tejas has a rich portfolio of patents and has shipped more than 750,000 systems across the globe.
The company has established itself as a significant player in the global telecom equipment market, competing with established giants like Ericsson, Nokia, Huawei, and others. Tejas' GPON solution has been deployed in BharatNet, it is the world's largest greenfield rural broadband rollout delivering high-speed Internet services to more than 200 million people. Tejas Equipments have helped provide broadband internet to all of India's gram panchayats and has helped connect 40,000 villages so far. Tejas' broadband products are helping 70% requirement of the BharatNet project.
For the fiscal year 2025, Tejas Networks reported exceptional financial performance driven primarily by the BSNL contract. Q4FY25 and FY25 Net Revenue: Rs 1,907 crore (1.4x YoY) & Rs 8,923 crore (3.6x YoY). Q4FY25 and FY25 Profit After Tax: Rs (72) crore & Rs 447 crore. Mkt Cap: 12,438 Crore (down -51.0% in 1 year) as of July 2025.
Key financial highlights for FY25:
- Revenue: Rs 8,923 crore (261% YoY growth)
- Profit After Tax: Rs 447 crore
- Order book at end of Q4: Rs 1,019 crore.
However, the company faced challenges in Q4FY25 with a net loss of Rs 72 crore, indicating some operational difficulties despite the strong annual performance.
In August 2023, Tejas Networks secured a ₹7,492 crore contract to supply its latest 4G/5G Radio Access Network (RAN) equipment for Bharat Sanchar Nigam Limited's (BSNL) pan-India network, encompassing 100,000 sites. This involved a contract with Tata Consultancy Services (TCS) for supplying, supporting, and maintaining Tejas' equipment for BSNL's nationwide 4G/5G network. Successfully completed radio and baseband equipment supplies for all 100K sites in BSNL's 4G/5G network. One of the largest single-vendor RAN networks in the world delivered in record time.
More recently, Tejas Networks received a ₹1,525 crore order from TCS for a 4G project with BSNL. Despite an 87% decrease in order backlog for FY25, strong order inflows and new customer acquisitions are expected to boost revenues in FY26.
Signed a technology collaboration agreement with NEC, Japan on development of advanced wireless RAN and Core technologies and joint go-to-market. Tejas Networks has formed a strategic partnership with Rakuten Symphony to develop integrated Open RAN solutions, enhancing their market presence in India and globally.
The company has undergone significant leadership changes in 2025. Anand Athreya has resigned as CEO of Tejas Networks due to personal reasons, effective June 20, 2025. Arnob Roy will take over as CEO amid ongoing 4G and 5G deployments for BSNL. Tejas Networks has announced the appointment of Sanjay Malik, former India Country Head of Nokia, as Executive Vice President - Chief Strategy and Business Officer.
Tejas Networks received Rs 123 crore under the Telecom PLI scheme, marking 85% of the eligible incentive for Q3 FY25. 27 Jun - Summary of 25th AGM held June 27, 2025; financials adopted, Rs.2.50 dividend declared, directors appointed.
Company has a low return on equity of 5.25% over last 3 years. Company has high debtors of 182 days. The stock has experienced significant volatility, with The stock hit a record high of Rs 1495.1 on 27 Jun 2024. However, the stock has faced significant declines, losing 51% over the past year.
Tejas Networks continues to focus on expanding its global footprint while maintaining its position as India's leading indigenous telecom equipment manufacturer. The company's strong R&D capabilities, comprehensive product portfolio, and strategic partnerships position it well for future growth in the evolving telecommunications landscape.
