Tejas Networks Reports Q3FY26 Results with Revenue of ₹307 Crores

Tejas Networks Limited announced its financial results for the third quarter ended December 31, 2025, showing significant year-over-year revenue decline while securing multiple strategic orders across domestic and international markets.

Financial Performance Overview

The company's financial metrics for the quarter reflected challenging market conditions with substantial revenue contraction compared to the previous year.

Metric	Q3FY26	Q3FY25	9M FY26	9M FY25
Net Revenue	₹307 cr	₹2,642 cr	₹771 cr	₹7,016 cr
PBT	(₹303 cr)	₹211 cr	(₹1,073 cr)	₹743 cr
PAT	(₹197 cr)	₹166 cr	(₹698 cr)	₹518 cr

CFO Sumit Dhingra noted that Q3FY26 revenue of ₹307 crores represented a quarter-over-quarter growth of 17.00%. The company ended the quarter with an order book of ₹1,329 crores.

Strategic Business Wins

Despite revenue challenges, Tejas Networks secured several significant contracts during the quarter. The company won additional packages for Bharatnet, establishing itself as a leading supplier of IP/MPLS Routers for Bharatnet Phase-III by securing 7 out of 12 packages announced.

Key business developments included:

Selection as 5G RAN supplier for Delhi-Mumbai railway corridor Kavach pilot
Expansion orders for DWDM and GPON OLT equipment from leading private telcos in India
DWDM backbone buildout order from broadband ISP in Africa
Network transformation application order for MPLS-TP products from power sector company in Southeast Asia

Operational Highlights

COO Arnob Roy explained that Q3FY26 revenue was driven largely by sales of Wireline products to India private and international customers. The company engaged in multiple field trials for Wireless products in India and international markets during the quarter, with commercial negotiations expected to close in coming months.

Financial Position

The company's debt position showed improvement during the quarter. Net debt decreased to ₹3,349 crores from ₹3,738 crores in Q2FY26, primarily due to lower working capital requirements, partially offset by capital expenditure. The company maintained gross debt of ₹3,885 crores and cash reserves of ₹537 crores.

Company Background

Tejas Networks designs, develops, manufactures and sells high-performance telecom and networking products used to build high-speed communication networks. The company serves telecommunications service providers, internet service providers, utilities, defence and government entities across over 75 countries. As part of the Tata Group, Tejas Networks operates with Panatone Finvest Limited, a subsidiary of Tata Sons Private Limited, as its majority shareholder.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-5.56%	-7.73%	-11.65%	-40.22%	-63.65%	+206.17%

Tejas Networks Limited released its Q3FY26 earnings presentation, showing sequential revenue growth amid ongoing business expansion across wireless and wireline segments. The telecommunications equipment manufacturer reported improved quarterly performance while maintaining a strong order book position.

Financial Performance

The company's financial metrics for Q3FY26 demonstrated quarter-on-quarter improvement across key parameters:

Metric	Q3FY26	Q2FY26	Change
Revenue from Operations	₹307.00 cr	₹262.00 cr	+17% QoQ
Net Loss (PAT)	₹197.00 cr	₹307.00 cr	Narrowed by ₹110 cr
Order Book	₹1,329.00 cr	₹1,204.00 cr	+₹125 cr

Revenue from sales and services reached ₹306.00 crores in Q3FY26, with other operating revenue contributing ₹0.00 crores. The quarter's revenue was primarily driven by wireline product sales to India private sector and international customers.

Revenue and Order Book Composition

The company's revenue mix for Q3FY26 showed strong domestic focus, with India contributing 85% and international markets accounting for 15% of total revenue. The closing order book composition reflected an even stronger domestic presence, with India representing 92% and international markets comprising 8% of total orders.

Balance Sheet Indicators

Key balance sheet metrics showed improvement in working capital management:

Parameter	Q3FY26	Q2FY26
Inventory	₹2,363.00 cr	₹2,383.00 cr
Trade Receivables	₹3,284.00 cr	₹4,026.00 cr
Cash and Cash Equivalents	₹537.00 cr	₹417.00 cr
Net Debt	₹3,349.00 cr	₹3,738.00 cr

The company reduced net debt by ₹389 crores primarily due to lower working capital requirements, partially offset by capital expenditure.

Business Developments

The wireless business segment showed increased international engagement with multiple ongoing proof-of-concepts and commercial negotiations for 4G/5G RAN equipment. Notable achievements included selection as 5G RAN supplier for a Delhi-Mumbai railway corridor Kavach pilot and multiple private 5G deployment wins in Indian ports and mining applications.

In the wireline segment, the company secured additional Bharatnet packages, becoming the largest supplier of IP/MPLS routers for Bharatnet Phase-III by package count, winning 7 out of 12 packages announced. The company also received expansion orders for DWDM and GPON OLT equipment from leading private Indian telcos.

Recognition and Innovation

The company's TJ1400 UCB product received the Excellence Award for Most Innovative Product/Service (Global) at the Telecom Review Leaders' Summit in Dubai during December 2025. Tejas Networks filed 26 patents in Q3FY26, bringing its cumulative global patent filings to 613, with 370 patents granted.

The company received ₹84.95 crores as PLI incentives for Q4FY25, with cumulative PLI incentives of ₹397.00 crores received for FY25. Management expressed optimism about long-term prospects, citing AI-driven traffic growth, 4G/5G expansion in emerging markets, and increasing adoption of wireless and wireline products across India and international markets.