Tata Teleservices (Maharashtra) Limited announced its audited financial results for the fourth quarter and financial year ended March 31, 2026, following a Board meeting held on April 23, 2026. The company reported a net loss of ₹215.30 crores for FY26, representing a significant improvement compared to the net loss of ₹1,275.32 crores recorded in the previous fiscal year. Revenue from operations for FY26 stood at ₹1,160.23 crores, down from ₹1,308.04 crores in FY25.

Financial Performance Overview

The fourth quarter of FY26 demonstrated a notable turnaround with a profit of ₹580.93 crores, compared to a loss of ₹306.42 crores in the corresponding quarter of the previous year. This improvement was primarily driven by an exceptional gain of ₹666.80 crores recognized during the quarter. The exceptional item related to a write-back of provisions amounting to ₹666.70 crores following reassessment of AGR (Adjusted Gross Revenue) dues based on final outstanding amounts shared by the Department of Telecommunications.

Operational and Strategic Developments

During the year, 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.

Balance Sheet and Cash Flow Position

Total assets as of March 31, 2026 stood at ₹1,341.03 crores, compared to ₹1,303.79 crores in the previous year. The company's equity position showed negative other equity of ₹21,938.31 crores as of March 31, 2026. Cash and cash equivalents decreased to ₹15.40 crores from ₹42.37 crores at the beginning of the year. The company paid ₹615.42 crores as the annual instalment for AGR dues and ₹37.56 crores for AGR-related dues up to FY 2018-19.

Regulatory Compliance and Publication

Pursuant to Regulation 47(4) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published extracts of its audited financial results in Business Line (English) and Navshakti (Marathi) on April 24, 2026. The publication notice was signed by Company Secretary & Compliance Officer Amit Gupta and filed with BSE Limited and National Stock Exchange of India Limited.

Going Concern and Auditor's Opinion

The accumulated losses of the company exceeded its paid-up capital and reserves as of March 31, 2026, and current liabilities exceeded current assets. However, the company received a support letter from its ultimate holding company indicating necessary financial actions to organize for any shortfall in liquidity during the 12-month period from the balance sheet date. Based on this support, the financial results have been prepared on a going concern basis. Price Waterhouse Chartered Accountants LLP issued an unmodified opinion on the financial results.

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 .