Tejas Networks reports Rs 202.24 cr Q1 loss on -24.96% operating margin
Management attributed revenue to international 5G radio and domestic optical and FTTx shipments, while awaiting an order for 26,000 BSNL 4G sites.
Filed 27 Jul 2026, 18:12 IST · after market close · Tejas Networks Ltd (TEJASNET)
Key takeaways
- Consolidated operating margin was -24.96%, leaving operating profit at a loss of Rs 100.36 cr on revenue of Rs 402.16 cr.
- Consolidated net loss reached Rs 202.24 cr after Rs 85.07 cr of interest and Rs 94.35 cr of depreciation.
- Tejas Networks ranked lowest among six reported telecom peers, with operating margin 44.38 percentage points below the 19.42% sector median.
Price around the results
Operating loss was compounded by financing and depreciation costs
Consolidated expenses of Rs 502.52 cr exceeded revenue of Rs 402.16 cr, resulting in an operating loss of Rs 100.36 cr. Interest of Rs 85.07 cr and depreciation of Rs 94.35 cr widened the loss before tax to Rs 270.81 cr. Other income of Rs 8.97 cr and a tax benefit of Rs 68.57 cr did not offset the operating and below-operating charges.
5G radio and optical shipments drove Q1 revenue
Management said Q1 revenue was driven by international shipments of 5G radios and domestic shipments of 100G/400G optical and FTTx products. The presentation said the company is awaiting an order for 26,000 additional BSNL 4G sites against an LOI, with a significant portion of inventory expected to be used for that execution. Management also said it filed 46 patents in Q1 FY27, taking cumulative global filings to 722.
Margin was 44.38 points below the reported telecom peer median
Tejas Networks' consolidated operating margin of -24.96% was 44.38 percentage points below the 19.42% median for the six telecom peers that had reported the quarter. It ranked lowest in that peer set, making the margin shortfall the clearest relative weakness in the quarter.
Management highlighted 5G expansion and new international work
Management said 5G rollouts are expected to continue until 2030 and that global 5G FWA subscriptions are expected to reach approximately 90 million by then. The company said it received an African expansion order for 100G/400G coherent DWDM equipment and registered its first commercial win for an end-to-end 5G network in South America. Management also said it was selected by a global tier-1 telco for a joint 5G research project and is investing in 5G Advanced and 6G.
Results were filed after market close
Tejas Networks filed the consolidated results after market close on 27 Jul 2026 at 18:12 IST. The filing therefore provides no same-day trading reaction to assess.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹402 cr |
| Other income | ₹9 cr |
| Expenses | ₹503 cr |
| Operating profit | ₹-100 cr |
| Operating margin (%) | -24.96% |
| Interest | ₹85 cr |
| Depreciation | ₹94 cr |
| Profit before tax | ₹-271 cr |
| Tax | ₹-69 cr |
| Net profit | ₹-202 cr |
| EPS (₹) | ₹-11.37 |
Operating margin of -24.96% compares with a Telecommunication sector median of 19.42% across 6 peers that have reported Q1FY27.
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- Q1 revenues were driven by international 5G radio shipments and domestic 100G/400G Optical and FTTx shipments.
- The company filed 46 patents in Q1 FY27, taking cumulative global filings to 722.
Guidance & outlook
- The company expects 5G rollouts to continue until 2030.
- Global 5G FWA subscriptions are expected to triple to approximately 90 million by 2030.
Expansion
- The company is awaiting an order for 26,000 additional BSNL 4G sites against an LOI.
- The company received an expansion order for 100G/400G coherent DWDM equipment in Africa.
New orders
- The company registered its first commercial win for an end-to-end 5G network deployment in South America.
New initiatives
- The company was selected by a global tier-1 telco for a joint 5G R&D project.
- The company is investing in 5G Advanced and 6G.
Problems & risks
- Net working capital increased mainly because of higher net receivables and scheduled payouts.
- A significant portion of inventory is expected to be used for executing the BSNL 4G Add-on order.
What to watch
- Whether consolidated operating margin improves from -24.96%.
- The status of the 26,000-site BSNL 4G add-on order against the LOI.
- Whether cumulative global patent filings build from 722 after the 46 filed in Q1 FY27.