The Board of Directors of Tata Teleservices (Maharashtra) Limited approved the company's audited financial results for the fourth quarter and financial year ended March 31, 2026, at a meeting held on April 23, 2026. The board meeting commenced at 13:00 hours IST and concluded at 14:20 hours IST, with the company reporting significant improvements in its financial performance.

Financial Performance Overview

The company demonstrated a remarkable turnaround in Q4 FY26, posting a profit of ₹580.93 crores compared to a loss of ₹306.42 crores in the corresponding quarter of the previous year. For the full financial year FY26, the net loss narrowed substantially to ₹215.30 crores from ₹1,275.32 crores in FY25, representing a significant improvement of over 83%.

Exceptional Gains from AGR Provision Adjustments

The fourth quarter performance was primarily driven by an exceptional gain of ₹666.80 crores, largely attributed to a write-back of provisions amounting to ₹666.70 crores. This adjustment followed the Department of Telecommunications sharing final AGR outstanding amounts, allowing the company to reassess its provisions relating to License fee and Spectrum Usage Charges including penalty and interest.

Operational and Strategic Developments

During FY26, the company reassessed the useful life of certain network assets, extending it from 18 years to 25 years based on internal assessment and technical evaluation. This revision reduced the depreciation charge by ₹23.91 crores for the year. The company also recognized expenses of ₹3.90 crores on vendor reconciliation related to the Consumer Mobility Business demerged in 2019.

Regulatory Compliance and Auditor Opinion

Pursuant to Regulation 33 of SEBI Listing Regulations, the financial results were signed by Managing Director Harjit Singh and audited by Price Waterhouse Chartered Accountants LLP, who issued an unmodified opinion. The results were also published in Business Line (English) and Navshakti (Marathi) on April 24, 2026, in compliance with Regulation 47(4) requirements.

Balance Sheet Position and Going Concern

Total assets stood at ₹1,341.03 crores as of March 31, 2026, compared to ₹1,303.79 crores in the previous year. Despite accumulated losses exceeding paid-up capital and reserves, the company received a support letter from its ultimate holding company indicating necessary financial actions to address any liquidity shortfall during the 12-month period from the balance sheet date, enabling preparation of results on a going concern basis.

Tata Teleservices (Maharashtra) Limited has announced the re-appointment of Mr Harjit Singh as Managing Director for an additional three-year term. The Board of Directors approved this decision at their meeting held on April 23, 2026, following recommendations from the Nomination and Remuneration Committee.

Official Board Resolution

Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company formally notified BSE Limited and National Stock Exchange of India Limited about the board decision. The re-appointment becomes effective from April 24, 2026, and will continue until April 23, 2029, subject to approval from the company's shareholders.

Leadership Profile and Strategic Vision

Mr Singh currently serves as Managing Director of both Tata Teleservices (Maharashtra) Limited and its holding company Tata Teleservices Limited. Under his leadership, the companies operate under the brand name Tata Tele Business Services (TTBS), offering comprehensive voice, data, and managed services to enterprises and carriers across the country.

His focus remains on positioning the company as a leading digital solutions provider in the MSME space, working to democratize digital technologies among Micro, Small and Medium Enterprises in India. The company has made significant progress in becoming an innovative, customer-centric, and growth-focused digital services entity under his guidance.

Professional Background and Experience

Mr Singh brings nearly three decades of experience across various business functions including P&L Management, Corporate Strategy & Planning, M&A, Business Development, and Operations in both domestic and international markets. He is an Officer of the 1996 batch of the Tata Administrative Services and has been associated with several Tata Group companies including Tata Housing, Tata AutoComp Systems, Tata Communications, and Neotel before joining TTL in 2012.

Educational Qualifications and Regulatory Compliance

Mr Singh holds a PGDM in Finance and Operations from IIM Ahmedabad and a BE in Mechanical Engineering from IIT Roorkee. The company has confirmed that Mr Singh is not debarred from holding the office of director by virtue of any SEBI order or any other regulatory authority. All required disclosures under Regulation 30 of SEBI Listing Regulations have been completed, and the information has been made available on the company's website at www.tatatelebusiness.com .