{"id":173141,"date":"2026-01-13T05:54:35","date_gmt":"2026-01-13T10:54:35","guid":{"rendered":"https:\/\/alphastreet.com\/india\/?p=173141"},"modified":"2026-01-13T05:54:35","modified_gmt":"2026-01-13T10:54:35","slug":"tejas-networks-q3-fy26-earnings-results","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/tejas-networks-q3-fy26-earnings-results\/","title":{"rendered":"Tejas Networks Q3 FY26 Earnings Results"},"content":{"rendered":"\n<p>Incorporated in 2000,Tejas Networks Ltd designs and manufactures wireline and wireless networking products, with a focus on technology, innovation and R&amp;D. TNL carrier-class products are used by telecom service providers, utilities, governments, and defence networks in 75+ countries. Company is currently a part of Panatone Finvest Limited (a subsidiary of Tata Sons Private Limited).<\/p>\n\n\n\n<div style=\"height:35px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Q3 FY26 Earnings Results<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Revenue from Operations (Consolidated): \u20b9307 crore, up 17% QoQ from \u20b9262 crore in Q2 FY26, but down ~88% YoY from ~\u20b92,642 crore in Q3 FY25 due to the high BSNL 4G base last year.<\/li>\n\n\n\n<li>Profit Before Tax (PBT): \u20b9\u2013303 crore versus \u20b9\u2013473 crore in Q2 FY26 and \u20b9211 crore profit in Q3 FY25, reflecting continued losses <a href=\"https:\/\/www.bseindia.com\/xml-data\/corpfiling\/AttachLive\/fa21eab3-c5ce-4251-bbe3-c4c0ba0ee3f6.pdf\" target=\"_blank\" rel=\"noopener\">but sequential improvement<\/a>.<\/li>\n\n\n\n<li>Profit After Tax (PAT): \u20b9\u2013197 crore, improving from a loss of \u20b9\u2013307 crore in Q2 FY26, but sharply lower versus profit of about \u20b9166 crore in Q3 FY25.<\/li>\n\n\n\n<li>EBITDA \/ operating trend: Losses remain significant, driven by low scale on a large fixed\u2011cost base and earlier manufacturing and warranty\u2011related provisions, though the QoQ reduction in loss indicates better cost absorption on higher revenue.<\/li>\n\n\n\n<li>Order book: \u20b91,329 crore at the end of Q3 FY26, up from \u20b91,204 crore at the end of Q2 FY26, with a strong domestic tilt and increasing private\u2011operator and international contribution.<\/li>\n\n\n\n<li>Net debt: \u20b93,349 crore versus \u20b93,738 crore in Q2 FY26; gross debt \u20b93,885 crore and cash \u20b9537 crore, showing modest balance\u2011sheet improvement as working capital eased despite continuing capex.<\/li>\n<\/ul>\n\n\n\n<div style=\"height:35px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Management Commentary &amp; Strategic Decisions<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>CEO and COO commentary highlighted that Q3 revenue growth was driven mainly by <strong>wireline<\/strong> products supplied to Indian private operators and international customers, partly offsetting the sharp decline in government BSNL 4G volumes versus last year\u2019s peak.<\/li>\n\n\n\n<li>Management emphasised that losses narrowed QoQ due to higher volumes, better mix and some benefits from earlier cost actions, but acknowledged that profitability remains under pressure until utilisation improves materially.<\/li>\n\n\n\n<li>Strategic focus areas reiterated in Q3:\n<ul class=\"wp-block-list\">\n<li>Scaling wireline business with 400G DWDM and data\u2011center networking solutions in India and key global markets.<\/li>\n\n\n\n<li>Driving commercialisation of wireless products (including partnerships with NEC and Rakuten) with trials underway and commercial closures expected in coming quarters.<\/li>\n\n\n\n<li>Tight management of working capital and inventory, alongside calibrated capex, to gradually reduce net debt while supporting delivery against the order book.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>The company also reported additional wins in BharatNet and other government \/ rural broadband projects, aiming to diversify beyond the BSNL 4G cycle and reduce dependence on a single large programme over time.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"839\" height=\"1024\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tejas-Network-Q3-FY26-Earnings-Results-839x1024.png\" alt=\"\" class=\"wp-image-173142\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tejas-Network-Q3-FY26-Earnings-Results-839x1024.png 839w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tejas-Network-Q3-FY26-Earnings-Results-246x300.png 246w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tejas-Network-Q3-FY26-Earnings-Results-768x937.png 768w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tejas-Network-Q3-FY26-Earnings-Results-1259x1536.png 1259w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tejas-Network-Q3-FY26-Earnings-Results.png 1489w\" sizes=\"auto, (max-width: 839px) 100vw, 839px\" \/><\/figure>\n\n\n\n<div style=\"height:35px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Q2 FY26 Earnings Results<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Revenue from Operations (Consolidated): \u20b9262 crore, up 30% QoQ from \u20b9202 crore in Q1 FY26, but down ~90% YoY from about \u20b92,811 crore in Q2 FY25 as BSNL 4G deployment tapered sharply from the prior\u2011year peak.<\/li>\n\n\n\n<li>Total Income: \u20b9267.8 crore versus \u20b9211.5 crore in Q1 FY26 and \u20b92,821.9 crore in Q2 FY25.\u200b<\/li>\n\n\n\n<li>EBIT: \u20b9\u2013394 crore, weaker than \u20b9\u2013232 crore in Q1 FY26, reflecting large provisions for manufacturing\u2011process losses, warranty and inventory obsolescence.\u200b<\/li>\n\n\n\n<li>Profit Before Tax (PBT): \u20b9\u2013473 crore versus \u20b9\u2013297 crore in Q1 FY26 and \u20b9410 crore profit in Q2 FY25.<\/li>\n\n\n\n<li>Profit After Tax (PAT): \u20b9\u2013307 crore, compared to a loss of \u20b9\u2013194 crore in Q1 FY26 and a profit of about \u20b9275 crore in Q2 FY25; YoY decline in PAT of over 200%.<\/li>\n\n\n\n<li>Order book: Around \u20b91,204 crore at the end of Q2 FY26, up from Q1 as new wins in 400G DWDM and other optical products came in across India, Europe and Africa.<\/li>\n<\/ul>\n\n\n\n<div style=\"height:35px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Management Commentary &amp; Strategic Directions in Q2 FY26<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Management squarely attributed the sharp YoY drop in revenue and swing to losses to:\n<ul class=\"wp-block-list\">\n<li>Normalisation after an exceptionally high BSNL 4G rollout base in FY25.<\/li>\n\n\n\n<li>One\u2011time and large provisions (~\u20b9190 crore) for manufacturing losses, warranty and inventory obsolescence as the company right\u2011sized its cost structure and cleaned up the balance sheet.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>The CFO noted that despite the losses, order\u2011book growth and QoQ revenue improvement provide visibility for gradual recovery as execution broadens across government, private and international customers.<\/li>\n\n\n\n<li>Strategically, Q2 commentary stressed:\n<ul class=\"wp-block-list\">\n<li>Pivoting from a BSNL\u2011heavy phase to a more diversified portfolio across wireline (400G DWDM, broadband) and emerging wireless contracts, domestically and overseas.<\/li>\n\n\n\n<li>Strengthening manufacturing processes and quality systems to avoid repeat provisions and to protect margins as volumes recover.<\/li>\n\n\n\n<li>Continued collaboration with partners like NEC and Rakuten to accelerate 4G\/5G wireless portfolio scale\u2011up and tap international opportunities.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p>To view the company\u2019s previous earnings and latest concall transcripts,\u00a0<a href=\"https:\/\/alphastreet.com\/india\/\">click here<\/a>\u00a0 to visit the Alphastreet India news channel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Incorporated in 2000,Tejas Networks Ltd designs and manufactures wireline and wireless networking products, with a focus on technology, innovation and R&amp;D. TNL carrier-class products are used by telecom service providers, utilities, governments, and defence networks in 75+ countries. Company is currently a part of Panatone Finvest Limited (a subsidiary of Tata Sons Private Limited). Q3 [&hellip;]<\/p>\n","protected":false},"author":1863,"featured_media":173142,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[105,8],"tags":[14228],"class_list":["post-173141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infographics","category-technology-stocks","tag-wireless-networking"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tejas-Network-Q3-FY26-Earnings-Results.png","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":171608,"url":"https:\/\/alphastreet.com\/india\/tejas-network-q2-fy26-earnings-results\/","url_meta":{"origin":173141,"position":0},"title":"Tejas Network Q2 FY26 Earnings Results","author":"Chirag Gupta","date":"October 17, 2025","format":false,"excerpt":"Incorporated in 2000,Tejas Networks Ltd designs and manufactures wireline and wireless networking products, with a focus on technology, innovation and R&D. TNL carrier-class products are used by telecom service providers, utilities, governments, and defence networks in 75+ countries. Company is currently a part of Panatone Finvest Limited (a subsidiary of\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Tejas Network Q2 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Tejas-Network-Q2-FY26-Earnings-Results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Tejas-Network-Q2-FY26-Earnings-Results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Tejas-Network-Q2-FY26-Earnings-Results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Tejas-Network-Q2-FY26-Earnings-Results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Tejas-Network-Q2-FY26-Earnings-Results.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Tejas-Network-Q2-FY26-Earnings-Results.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":171033,"url":"https:\/\/alphastreet.com\/india\/tejas-networks-q1-fy26-earnings-results\/","url_meta":{"origin":173141,"position":1},"title":"Tejas Networks Q1 FY26 Earnings Results","author":"Chirag Gupta","date":"September 8, 2025","format":false,"excerpt":"Incorporated in 2000,Tejas Networks Ltd designs and manufactures wireline and wireless networking products, with a focus on technology, innovation and R&D. 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In July 2006, STL acquired the transmission line business of SIL to foray into the power transmission cables business. STL has grown over the years to become the largest Optical\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":173146,"url":"https:\/\/alphastreet.com\/india\/oriental-hotels-q3-fy26-earnings-results\/","url_meta":{"origin":173141,"position":3},"title":"Oriental Hotels Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"January 14, 2026","format":false,"excerpt":"Oriental Hotels Limited is an associate company of The Indian Hotels Company Limited (IHCL). The company has seven hotels \u2013 Taj Coromandel, Chennai; Taj Fisherman\u2019s Cove Resort & Spa, Chennai; Taj Malabar Resort & Spa, Cochin; Vivanta Coimbatore; Vivanta Mangalore; The Gateway Hotel Pasumalai, Madurai; and Gateway Coonoor \u2013 an\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Oriental Hotels Q3 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Oriental-Hotels-Q3FY26-Earnings-Results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Oriental-Hotels-Q3FY26-Earnings-Results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Oriental-Hotels-Q3FY26-Earnings-Results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Oriental-Hotels-Q3FY26-Earnings-Results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Oriental-Hotels-Q3FY26-Earnings-Results.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Oriental-Hotels-Q3FY26-Earnings-Results.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":173194,"url":"https:\/\/alphastreet.com\/india\/tips-music-q3-fy26-earnings-results\/","url_meta":{"origin":173141,"position":4},"title":"Tips Music Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"January 20, 2026","format":false,"excerpt":"Tips Industries Limited, incorporated in 1996, is engaged in the business of Production and Distribution of motion Pictures and acquisition and exploitation of Music of Rights. The company is also a leading producer of Punjabi films in the country. Q3 FY26 Earnings Results Revenue from Operations: \u20b994.3 crore, up 6.0%\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Tips Music Q3 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tips-Music-Q3-FY26-Earnings-Results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tips-Music-Q3-FY26-Earnings-Results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tips-Music-Q3-FY26-Earnings-Results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tips-Music-Q3-FY26-Earnings-Results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tips-Music-Q3-FY26-Earnings-Results.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tips-Music-Q3-FY26-Earnings-Results.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":173222,"url":"https:\/\/alphastreet.com\/india\/shoppers-stop-q3-fy26-earnings-results\/","url_meta":{"origin":173141,"position":5},"title":"Shoppers Stop Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"January 21, 2026","format":false,"excerpt":"Shoppers Stop Ltd. is the nation's leading premier retailer of fashion and beauty brands established in 1991.\u00a0It has 800+ Brands under its portfolio and 271 Stores spread across 50 cities in India as of 31st Dec 2022. 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