Tejas Networks Limited (TEJASNET.NS) Bundle
From a Bengaluru startup founded in 2000 by engineers to a globally deployed telecom vendor, Tejas Networks has charted rapid ascent-delivering India's first metro DWDM for Tata Power in 2008, listing on the BSE/NSE via IPO in 2017, acquiring Saankhya Labs in 2020, and in 2023 winning a landmark ₹7,492 crore single-vendor RAN contract with BSNL to supply 4G/5G for 100,000 sites; the company levers a workforce with over 60% in R&D and an IP portfolio exceeding 585 global patents to design, manufacture and deploy fixed and wireless access, optical aggregation, metro/core and satellite solutions that boast field uptime >99.999% since 2008, driving revenue streams across telcos, utilities, defense and government in 75+ countries and delivering a striking 261% year-on-year net revenue surge to ₹8,923 crore in FY25 with net profit of ₹447 crore while maintaining a diverse ownership led by Panatone Finvest (Tata Group) and a robust order book supporting continued network rollouts and global expansion
Tejas Networks Limited (TEJASNET.NS): Intro
Tejas Networks Limited, founded in 2000 in Bengaluru by a team of engineers, designs and manufactures telecom and broadband networking equipment focused on optical, broadband access, and wireless systems for service providers, utilities and enterprises. The company evolved from early DSL and access products into a full-suite networking vendor with capabilities spanning optical DWDM, packet-optical, microwave, and RAN radio systems.- 2000 - Company founded in Bengaluru with emphasis on high-performance networking products for telecom operators.
- 2008 - Delivered India's first metro DWDM network for Tata Power, establishing Tejas in optical networking.
- 2017 - IPO on BSE & NSE, providing capital for scale-up and market visibility.
- 2020 - Acquired Saankhya Labs to add software-defined radio (SDR) and wireless expertise.
- 2023 - Won a ₹7,492 crore BSNL single-vendor contract to supply 4G/5G RAN equipment for 100,000 sites.
- 2024 - Reported net revenue of ₹8,923 crore (261% YoY) and net profit of ₹447 crore, reflecting rapid scale-up.
- Product-led revenue: sells hardware systems (optical transport, packet-optical, access, microwave, RAN) and embedded software/firmware.
- Services & support: installation, integration, managed services, warranty and field support contracts generate recurring revenue.
- Software & licenses: network management, OSS/BSS integrations, SDN/virtualization licenses and upgrades add high-margin revenue.
- Large contracts: multi-year supply agreements (e.g., BSNL RAN) create predictable order flows and scale advantages.
- Exports & diversification: international sales to operators and enterprises reduce single-market concentration risk.
- Optical transport: DWDM/ROADM and packet-optical platforms for long-haul, metro and data-center interconnects.
- Access & broadband: GPON/EPON and fiber access systems for fixed broadband rollouts.
- RAN & wireless: 4G/5G radios, baseband and SDR-enabled solutions (expanded via Saankhya Labs acquisition).
- Microwave & backhaul: high-capacity microwave links for last-mile and backhaul connectivity.
- Network software: NMS, SDN controllers, orchestration and analytics for service providers.
| Metric / Year | 2021 (approx) | 2022 (approx) | 2023 (actual approx) | 2024 (actual) |
|---|---|---|---|---|
| Net Revenue (₹ crore) | ~600 | ~700 | ~2,472 | 8,923 |
| Net Profit (₹ crore) | ~(-)50 | ~25 | ~100 | 447 |
| YoY Revenue Growth | - | ~17% | ~253% | 261% vs 2023 |
| Major contract | - | BSNL RAN supply: ₹7,492 crore for 100,000 sites (2023 award) | ||
- Large-system sales (optical + RAN): majority of 2024 incremental revenue driven by BSNL RAN deliveries and associated integration.
- Recurring services & spares: increasing as deployments scale, providing margin stability.
- Software & licenses: smaller share but higher gross margin and improving contribution over time.
- Domestic anchor contracts (BSNL) provide volume scale, supply-chain leverage and credibility for global bids.
- Vertical integration in hardware + software + R&D (R&D spend historically elevated) supports customization for operator needs.
- Export growth and multi-vendor interoperability efforts aim to convert scale into diversified geographic revenue.
Tejas Networks Limited (TEJASNET.NS): History
Tejas Networks Limited (TEJASNET.NS) was founded in 2000 as an India-based designer and manufacturer of optical and broadband networking products. Over two decades it evolved from a primarily domestic supplier to a global vendor across telecom, broadband and government networks, expanding product lines into optical transport, broadband access, transmission and, after strategic acquisitions, wireless technologies.- Public listing: Tejas is listed on the BSE and NSE under the ticker TEJASNET.
- Major ownership shift: In 2022-2023 the Tata Group, via Panatone Finvest Ltd. (a Tata Sons subsidiary), became the majority shareholder; Panatone holds a controlling stake (approximately 51.3% following the open offer and subsequent adjustments).
- Merger & capability expansion: In 2024 Tejas completed the merger of Saankhya Labs, integrating its wireless and RF IP into Tejas' product portfolio to strengthen 4G/5G and private wireless offerings.
- Governance: The Board is composed of senior professionals from telecom, technology and finance sectors and the company follows listed-company governance norms and regulatory disclosure requirements.
| Item | Detail / Approximate Value |
|---|---|
| Exchange ticker | TEJASNET (BSE & NSE) |
| Promoter / majority shareholder | Panatone Finvest Ltd. (Tata Group) - ~51.3% |
| Other ownership | Institutional investors (mutual funds, FPIs) & retail investors - remainder (~48.7%) |
| Significant M&A | Saankhya Labs merger completed in 2024 (adds wireless/RF capabilities) |
| Board | Multi-member board of industry professionals (telecom/tech/finance) |
| Recent annual revenue (FY estimate) | Approximately INR 1,000-1,300 crore (consolidated; FY2023-24 range) |
| Profitability (PAT) recent FY | Mid-to-high tens of crores INR (variable year-on-year; see filings) |
| Business segments | Optical transport, broadband access, GPON/CPE, wireless (post-Saankhya), software & services |
Tejas Networks Limited (TEJASNET.NS): Ownership Structure
Tejas Networks is committed to designing and delivering high-performance networking products that enable the creation of high-speed communication networks worldwide. The company emphasizes customer-centricity, working closely with clients to understand their requirements and develop effective solutions. Quality is at the core of Tejas Networks' business ethos, with a focus on delivering reliable and innovative products that meet industry standards.- Mission: Enable affordable, high-capacity digital infrastructure globally by supplying carrier-grade optical, broadband and transmission solutions.
- Customer focus: Co-engineering approach with telecom operators, utilities and enterprise customers to tailor solutions and accelerate deployments.
- Quality & compliance: Products aligned to global standards (ITU-T, IEEE, MEF) and field-proven in long-haul, metro and access networks.
- R&D intensity: Over 60% of workforce engaged in R&D, sustaining product innovation and system-level integration.
- Intellectual property: A robust portfolio exceeding 585 global patents across optical, packet and access technologies.
- Global footprint: Powering 500+ networks across 75+ countries, from national backbone links to enterprise and utility networks.
- Product sales: Optical transport systems (DWDM, OTN), packet/aggregation platforms, GPON/ xPON access equipment, and customer premises gear.
- System integration & services: Turnkey network builds, installation, commissioning, and managed services for service providers and enterprises.
- Software & upgrades: Network management systems, SDN-enabled controllers, feature/firmware upgrades and licensing.
- After-sales revenue: Maintenance contracts, spares, field support and long-term service agreements (LTSA).
| Metric | Reported / Approximate Value |
|---|---|
| Global networks powered | 500+ countries / networks |
| Countries served | 75+ |
| Patent count | 585+ global patents |
| R&D workforce | >60% of total employees |
| Approx. FY/Recent annual revenue | ~INR 900-1,200 crore (company growth trajectory; consult filings for exact year) |
| Market capitalization (approx.) | ~INR 30-45 billion (varies with market) |
- Primary customers: National and regional telecom operators, utilities, ISPs, large enterprises and defence/critical-infrastructure agencies.
- Business model strengths: High R&D intensity enabling product differentiation, diversified revenue streams (hardware + services + software), and export-led growth.
| Shareholder Group | Approx. Ownership (%) |
|---|---|
| Promoter & Promoter Group | ~45-50% |
| Foreign Institutional Investors (FII/FPIs) | ~10-20% |
| Domestic Institutional Investors (Mutual Funds, DII) | ~10-20% |
| Public & Retail Shareholders | ~15-30% |
Tejas Networks Limited (TEJASNET.NS): Mission and Values
Tejas Networks Limited (TEJASNET.NS) is an end-to-end telecom and broadband equipment company that designs, develops, manufactures, and sells a broad portfolio of networking products spanning fixed and wireless access, optical aggregation, metro core and backbone, packet transport, satellite communication, and network management systems. Founded in 2000, the company has grown from a niche optics designer to a global systems supplier serving service providers, utilities, defense, and government networks. How It Works- Product portfolio: Tejas develops systems across the access-to-core stack:
- Fixed and wireless access platforms for broadband and enterprise connectivity.
- Optical aggregation and metro/core DWDM systems for high-capacity transport.
- Packet transport and MPLS-TP products for carrier-grade packet networks.
- Satellite communication terminals and modems for specialized connectivity.
- Network management and OSS/BSS software for service orchestration and monitoring.
- R&D-driven model: Over 60% of Tejas' workforce is focused on research and development, enabling continuous innovation, software feature releases, and silicon/optical integration-supporting rapid customization for telecom operators and government projects.
- Manufacturing and quality: Tejas operates in-house manufacturing with rigorous quality controls; its deployed systems report field uptimes exceeding 99.999% since 2008, meeting stringent carrier SLAs for availability.
- Supply chain and logistics: A robust supplier base and centralized logistics processes support global deliveries and on-site deployments, minimizing lead times for large-scale rollouts.
- Customer segments and deployment environments:
- Telecom and internet service providers (national and regional).
- Utilities and smart-grid communications.
- Defense and public sector/government networks.
- Enterprise and satellite connectivity providers.
- Global footprint: Tejas maintains offices in India and multiple international locations, supporting customers across six continents and providing regional engineering, sales, and support.
- Product sales: Primary revenue from sale of hardware platforms (optical, packet, access, satellite) and associated software licenses.
- Services and support: Recurring revenue from maintenance contracts, spare parts, field-services, and managed services agreements.
- Project and systems integration: Turnkey network deployments, government tenders, and large operator rollout contracts contribute one-time and milestone-based revenues.
- Export and OEM partnerships: Revenue from exports to carriers outside India and from OEM/module sales to global partners.
| Metric | Detail / Figure |
|---|---|
| Founding year | 2000 |
| R&D intensity | Over 60% of workforce in R&D |
| Field uptime (deployed systems) | >99.999% since 2008 |
| Global presence | Offices in India and multiple international locations across six continents |
| Employee base | Over 1,800 professionals (engineering-heavy workforce) |
| Customer segments | Telcos, ISPs, utilities, defense, government, enterprise |
- Hardware vs software: Hardware platforms drive large initial deals; software, license fees, and network management modules increase ARPU-like recurring revenue.
- Recurring support: Multi-year O&M and spares contracts smooth revenue volatility from project-based sales.
- Scale & customization: High R&D content allows Tejas to bid for strategic national programs, defense projects, and bespoke operator requirements-often commanding higher margins.
- Collaboration with global carriers and regional service providers enables references for larger export tenders.
- Government and defense engagements create a steady pipeline of secure-network contracts and long-term support revenue.
- Focus on indigenization and Make-in-India manufacturing strengthens eligibility for public tenders and reduces supply-chain risk.
Tejas Networks Limited (TEJASNET.NS): How It Works
Tejas Networks designs, develops and manufactures end-to-end optical and broadband networking products and solutions for telecommunications service providers, internet service providers, utilities, defense and government entities. Its business model combines product sales, systems integration, project execution and recurring services (warranty, maintenance, software and upgrades), supported by partnerships and export efforts across more than 75 countries.- Primary revenue sources: product sales of fixed & wireless access, optical aggregation, metro core & backbone, packet transport, satellite communications and network management systems.
- Project and systems integration revenue from large-scale network rollouts for national operators and government projects.
- Recurring services: maintenance, spare parts, software licenses and managed services.
- Technology & commercial partnerships (e.g., NEC Corporation) to co-develop advanced wireless and transport solutions, and to expand addressable markets.
| Metric | Detail / Value |
|---|---|
| Geographic reach | Customers in more than 75 countries |
| Revenue mix (FY25) | Indian private sector 94% | Indian government sector 3% | International 3% |
| Major contract example | BSNL agreement (2023): ₹7,492 crore |
| Order book (Q4 FY25) | ₹1,019 crore |
| Key product categories | Fixed & wireless access, optical aggregation, metro/core, packet transport, satellite comms, network management |
- Design & product development - proprietary hardware and software stacks reduce dependence on third-party vendors and improve margins.
- Manufacturing & scale - in-house manufacturing enables control over unit costs and delivery timelines for large tenders.
- Large tenders & recurring orders - securing multi-year, high-value contracts (e.g., the ₹7,492 crore BSNL deal) drives upfront equipment revenue and follow-on services.
- International sales & partnerships - exports and technology collaborations expand addressable markets and enable licensing/co-development revenue streams.
- Service contracts - annual maintenance, spares and software support create recurring revenue and improve lifetime customer value.
- Order book visibility: ₹1,019 crore (Q4 FY25) provides a short-to-medium term revenue pipeline.
- Customer concentration: FY25 revenue weighted heavily to Indian private sector (94%), with smaller contributions from government (3%) and international markets (3%).
- Product breadth: diversified portfolio across access, aggregation, backbone and management reduces exposure to any single product cycle.
Tejas Networks Limited (TEJASNET.NS): How It Makes Money
Tejas Networks generates revenue by designing, manufacturing and supplying telecom equipment and software for service providers, utilities and enterprises across access, aggregation and optical transport layers. Key earning drivers include product sales, system integration, after-sales services and long-term contracts for large network rollouts.- Product sales: optical transport systems, GPON/FTTx access products, 4G/5G-ready radio and packet transport equipment.
- Systems & integration: turnkey network deployments and multi-vendor integration for operators and utilities.
- Services & support: maintenance, managed services, software licenses and upgrades.
- Export contracts & OEM partnerships: sales to global carriers, governments and OEM partners in the USA, Europe, Africa and Mexico.
| Metric | FY25 / Latest |
|---|---|
| Net revenue | ₹8,923 crore |
| Year‑on‑year growth | 261% |
| Net profit | ₹447 crore |
| Core geographies | India, USA, Europe, Africa, Mexico |
| Strategic focus | 5G & beyond, optical transport, broadband access, large-scale network rollouts (e.g., BSNL 4G/5G) |
- R&D-led innovation: sustained investment in 5G, O-RAN, optical and cloud-native software to capture higher-margin, differentiated products.
- Global sales push: recent contract wins in the USA, Europe, Africa and Mexico diversify revenue and improve margin resilience.
- Scale & localization: domestic manufacturing and certifications strengthen competitive position for large government tenders.
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