Tejas Networks (TEJASNET) is loss-making over the last 12 months, losing ₹817 Cr, so a P/E ratio does not apply. Its share price on 6 Nov 2026 was ₹417.20, 35% below its 52-week high. Sales grew 6.1% a year over 3 years. Debt is 1.97× equity. It is a small-cap company with a market cap of ₹7,422 Cr, ranked 5th of 24 Communication Equipment companies by market cap; the shares fell 22% over the past year.
- ₹419.60
- ₹420.15
- ₹411.10
- ₹423.95
- 7.3 L
Health check
- ReturnsBehind
−21.7% over a year, better than 2 of 7 peers.
- Price tagLoss-making
Earnings were negative over the last 12 months.
- GrowthUnder pressure
Sales +6.1% a year over 3 years, but loss-making now.
- ProfitabilityNegative
ROCE -29.5% vs peer median 12.6%.
- Balance sheetStretched
Debt 1.97× equity, operating profit doesn’t cover interest, Piotroski 3 of 9.
- Red flags5 to check
Loss-making over the last twelve months.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹7,422 Cr
- Small cap
- P/E
- n/a
- Industry 40.6
- Price to book
- 2.94
- Peers 8.15
- Dividend yield
- 0.00%
- ROE
- −27.9%
- Peers 16.6%
- ROCE
- −29.5%
- Peers 12.6%
- Debt to equity
- 1.97
- Debt ₹4,970 Cr
- EPS (TTM)
- −₹45.99
- Face value ₹10
- OPM (TTM)
- −23.2%
- Net margin −56.5%
- Sales growth
- +54.9%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 5.13
- EV/EBITDA −17.1
Strengths and risks
Strengths
- Quarterly sales up 54.9% on a year ago.
Risks to check
- Loss-making over the last twelve months.
- Return on equity is low at −27.9%.
- Debt is 1.97× equity.
- 35% below its 52-week high.
- Interest coverage of only −2.4×.
About Tejas Networks
Tejas Networks Limited provides telecom and data networking-related products and services in India and internationally. It offers radio access networks, fiber broadband access, satcom solutions, optical aggregation, switching and routing, direct-to-mobile broadcast solutions, metro core and backbone, packet transport networks, network management systems, and mobile packet core products. The company also designs, manufactures, and sells wireless and…
- Headquarters
- Bengaluru
- Employees
- 2,229
- Sector
- Technology
- ISIN
- INE010J01012
- Website
- tejasnetworks.com
Price range
- Avg volume (3M)
- 26.4 L
- 1-year return
- minus 21.7%
- From 52-week high
- minus 35.3%
Peers · Communication Equipment
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| STLTECHSterlite Technologies | 719.90 | minus 5.00% | 37,018 | 52.4 | 65.8 | 8.0% | 22.0% | 0.22 | −11.8% | plus 530.2% |
| HFCLHFCL | 210.66 | minus 5.00% | 32,237 | 36.8 | 42.9 | 10.8% | 21.2% | 0.34 | 1.3% | plus 188.1% |
| ITIITI | 248.85 | minus 0.58% | 23,961 | 135.2 | 350.1 | 14.4% | −4.0% | 0.40 | 16.1% | minus 22.6% |
| ASTRAMICROAstra Microwave Products | 1,557.80 | minus 0.01% | 14,791 | 78.4 | 44.6 | 20.8% | 28.6% | 0.22 | 12.6% | plus 47.1% |
| TEJASNETTejas Networks | 417.20 | minus 1.59% | 7,422 | – | – | −29.5% | −23.2% | 1.97 | 6.1% | minus 21.7% |
| AVANTELAvantel | 138.69 | minus 1.24% | 3,686 | 190.0 | 76.9 | 8.2% | 24.7% | 0.31 | 12.9% | minus 16.3% |
| PACEDIGITKPace Digitek | 158.13 | minus 1.62% | 3,413 | 9.8 | 8.5 | 16.1% | 16.3% | 0.57 | 73.8% | minus 26.6% |
| PARACABLESParamount Communications | 64.13 | minus 6.11% | 2,099 | 27.9 | – | – | 5.7% | 0.15 | – | plus 59.2% |
| Median of 7 peers | – | −1.62% | 14,791 | 52.4 | 55.2 | 12.6% | 21.2% | 0.31 | 12.8% | 47.1% |
Quarterly results
| ₹ Cr | Jun 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 202 | 306 | 332 | 402 | 406 | |
| 338 | 316 | 451 | 502 | 512 | |
| −136 | −9.7 | −118 | −100 | −107 | |
| −67.2% | −3.2% | −35.6% | −25.0% | −26.3% | |
| 9.6 | −117 | 10.3 | 9 | 7.8 | |
| 74.8 | 71.7 | 72 | 85.1 | 86.5 | |
| 96.5 | 104 | 101 | 94.4 | 91.5 | |
| −297 | −303 | −281 | −271 | −277 | |
| 34.8% | 35.1% | 24.7% | 25.3% | 25.3% | |
| −194 | −197 | −211 | −202 | −207 | |
| -10.99 | -11.09 | -11.90 | -11.37 | -11.62 |
Profit & loss
- Sales CAGR 3Y
- +6.1%
- ROE
- −27.9%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 920 | 2,314 | 8,455 | 1,097 | |
| – | +151.7% | +265.3% | minus 87.0% | |
| 901 | 2,028 | 7,177 | 1,766 | |
| 18.9 | 287 | 1,278 | −669 | |
| 2.1% | 12.4% | 15.1% | −61.0% | |
| 55.2 | 31.6 | −18 | −15.7 | |
| 14.2 | 46.3 | 228 | 279 | |
| 123 | 182 | 353 | 403 | |
| 19.9 | 10.7 | 19.6 | 12.6 | |
| −42.7 | 100 | 698 | −1,354 | |
| 14.6% | 37.2% | 36.0% | 32.9% | |
| −36.4 | 63 | 447 | −909 | |
| – | – | +609.0% | minus 303.5% | |
| -2.46 | 3.65 | 25.38 | -51.35 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 172 | 174 | 180 | 181 | |
| 2,801 | 2,976 | 3,667 | 2,750 | |
| 49.8 | 1,884 | 3,407 | 4,177 | |
| 579 | 3,169 | 3,209 | 2,295 | |
| 3,602 | 8,203 | 10,462 | 9,403 | |
| 138 | 355 | 518 | 534 | |
| 8.5 | 18.2 | 3.5 | 1.3 | |
| 7 | 10.4 | 0.4 | – | |
| 1,304 | 752 | 1,095 | 469 | |
| 2,144 | 7,066 | 8,845 | 8,398 | |
| 3,602 | 8,203 | 10,462 | 9,403 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −380 | −2,036 | −491 | 135 | |
| −581 | 431 | −655 | −764 | |
| 999 | 1,713 | 1,286 | 397 | |
| 37.3 | 107 | 140 | −232 | |
| −249 | −408 | −651 | −884 | |
| −629 | −2,445 | −1,143 | −749 | |
| – | – | – | −44.2 |
Shareholding pattern
- Promoters53.28%
- Public46.63%
- Employee trusts0.10%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 53.28% | 46.63% | minus 0.05 | |
| 30 Jun 2026 | 53.33% | 46.56% | minus 0.07 | |
| 31 Mar 2026 | 53.40% | 46.47% | minus 0.06 | |
| 31 Dec 2025 | 53.46% | 46.34% | minus 0.20 | |
| 30 Sep 2025 | 53.66% | 45.96% | – |
Major shareholders
Filings & events
News
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