Financial Performance

Q2 FY27 Financial Results (INR Crore):

  • Revenue from Sales & Service: ₹406 (vs. ₹257 in Q2 FY26)
  • Other Operating Revenue: ₹0 (vs. ₹5 in Q2 FY26)
  • Revenue from Operations: ₹406 (vs. ₹262 in Q2 FY26)
  • EBITDA: ₹(108) (vs. ₹(293) in Q2 FY26)
  • EBIT: ₹(199) (vs. ₹(394) in Q2 FY26)
  • PBT: ₹(277) (vs. ₹(473) in Q2 FY26)
  • PAT: ₹(207) (vs. ₹(307) in Q2 FY26)

H1 FY27 Financial Results (INR Crore):

  • Revenue from Operations: ₹808 (vs. ₹464 in H1 FY26)
  • PAT: ₹(409) (vs. ₹(501) in H1 FY26)

Key Balance Sheet Items (INR Crore) as of September 30, 2026:

  • Net Working Capital: ₹4,235 (decreased from ₹4,478 in Q1 FY27)
  • Trade Receivables (Net of Cust Advance): ₹2,042
  • Inventory: ₹2,314 (decreased from ₹2,358 in Q1 FY27)
  • Cash and Cash Equivalents: ₹451 (includes liquid mutual funds, deposits)
  • Net Debt: ₹4,384 (increased from ₹4,277 in Q1 FY27)

The decrease in Net Working Capital was attributed to decreased Trade Receivables from collections, non-recourse discounting, and Customer advance settlements. The increase in Net Debt was due to increased operational and capex funding.

Operational and Business Updates

Order Book: The closing order book stood at ₹2,315 Cr as of Q2 FY27, a significant increase from ₹1,529 Cr in Q1 FY27. The mix was 96% India and 4% International.

Revenue Mix (Q2 FY27, excluding other operating revenue): 88% from India and 12% from International.

Key Business Developments in Q2 FY27:

  • Received a Letter of Intent (LOI) from TCS for 18,685 add-on sites for the BSNL 4G network expansion. Initial shipments have commenced.
  • Shipped Tejas RAN equipment and deployed 5G Core for the first phase of an end-to-end 5G mobile network rollout for a customer in South America.
  • Initiated multiple Proof-of-Concept (POC) engagements in North America and Asia-Pacific regions.
  • Engaged in discussions with Tier-1 Mobile Network Operators (MNOs) for custom 5G Radio development.
  • Received an LOI from a System Integrator (SI) partner to supply IP Routers for upgrading the BharatNet middle-mile network in three states.
  • Declared L1 in a Government of India tender to deploy high-capacity OTN/WDM equipment for a strategic pan-India network.
  • Received Purchase Orders (POs) to supply GPON OLT equipment for high-speed broadband access networks from leading Indian ISPs.
  • Selected as a DWDM vendor by a tier-1 pan-African telecom operator.

Corporate Updates

Logo: Launched a new logo with the Tata endorsement mark at the India Mobile Congress.

Awards: Won the TEPC Export Excellence award in the Large Enterprises – Telecom OEM category.

R&D and Patents: Filed 26 patents in Q2 FY27, bringing the cumulative global patent filing count to 748. Inaugurated a Next-generation Connectivity Lab for advanced research in 5G-Advanced, 6G, and AI-powered Network Intelligence. Elected to the membership of TSDSI's 7th Governing Council.

India Mobile Congress 2026: The company demonstrated 6G Sensing technology with Qualcomm, showcased its end-to-end portfolio (WavePlex Unified Mobility Stack, Hyperscale Network Solutions, Optical Access/Transport/Routing), and participated in multiple speaking sessions and roundtables.

Key Focus Areas

Product Focus:

  • Expansion of the 5G Radio Access Network portfolio.
  • Investments in 5G-Advanced and 6G technologies, including AI-RAN algorithms and Integrated Sensing and Communication.
  • Enhancement of the Wireline portfolio for AI-driven demand (IP/MPLS routing, high-capacity optical).
  • Development of AI-based network management solutions.

Business & Operations Focus:

  • Leverage partnerships to scale international business.
  • Expand market share with private telcos for 4G/5G expansions.
  • Focus on Data Centre Interconnect applications.
  • Deliver on the BSNL 4G expansion order within timelines.
  • Achieve significant inventory reduction through BSNL order execution.
  • Increase focus on collections.
  • Achieve quarterly positive EBITDA financial performance.

Key Takeaways

The presentation concluded that the company has a strong and growing order book, increasing international engagements, and a maturing wireless business. It is well-positioned for an AI-driven future, and the execution of the BSNL expansion order is expected to bring down inventory and gross debt, with a visible path to profitability.

Contact Information: ir@tejasnetworks.com | +91(80)41794600