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Tejas Networks [BSE: 540595, NSE: TEJASNET] today reported its financial results for the first quarter ended June 30, 2018. Tejas Networks designs, develops, manufactures and sells high-performance optical and data networking products, which are used to build highspeed communication networks over optical fiber.
For the quarter ended June 30, 2018, our consolidated revenues (net of taxes and pass-through component sale) were ₹ 232.0 crore which was a year-on-year growth of 16.0% and sequential growth of 135.1%. Operating profit was at ₹ 45.3 crore which was 19.5% of our revenues (net) as against 14.1% for Q1 2018. Our profit after tax was ₹ 45.0 crore which was a year-on-year increase of 120.3%. Our PAT as percentage of net revenue increased from 10.2% in Q1 2018 to 19.4% in Q1 2019.
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “We had a solid quarter of revenue and profitability growth. Our India business continues to show robust growth due to increased demand for data and Indian government’s focus in rolling out broadband networks. While we expect India to continue to be a large part of our business during this year, we see strong momentum in our international business, across South-East Asia, Africa, Mexico and USA. During the quarter, we received orders from seven new international customers. With a strong pipeline of orders and many active engagements, we are confident of strong growth this year.”
The increased use of data by consumers, businesses and governments results in an increased demand for our optical transmission equipment. The advent of 5G and IOT, densification of fiber networks and proliferation of cloud services, continues to provide a long-term growth opportunity for our business, since our customers need to enhance their network infrastructure.
Mr. Venkatesh Gadiyar, CFO said, “We made a good start to the year with strong revenue growth and increased profitability on account of higher gross margins. As a deep-technology company, we stay committed to invest in R&D, which has seen a year-on-year increase of 37% on a gross basis. We will continue to tightly manage our working capital and expect to see some improvement during the year. We have a strong balance sheet to support our growth and our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, stood at
During the quarter, we were granted 2 patents resulting in a cumulative grant of 78 patents. As on date, we have filed for 342 patents. We also won the “Best Exporter Award” from Federation of Karnataka Chambers of Commerce and Industry.
For the quarter ended June 30, 2018, our consolidated revenues (net of taxes and pass-through component sale) were ₹ 232.0 crore which was a year-on-year growth of 16.0% and sequential growth of 135.1%. Operating profit was at ₹ 45.3 crore which was 19.5% of our revenues (net) as against 14.1% for Q1 2018. Our profit after tax was ₹ 45.0 crore which was a year-on-year increase of 120.3%. Our PAT as percentage of net revenue increased from 10.2% in Q1 2018 to 19.4% in Q1 2019.
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “We had a solid quarter of revenue and profitability growth. Our India business continues to show robust growth due to increased demand for data and Indian government’s focus in rolling out broadband networks. While we expect India to continue to be a large part of our business during this year, we see strong momentum in our international business, across South-East Asia, Africa, Mexico and USA. During the quarter, we received orders from seven new international customers. With a strong pipeline of orders and many active engagements, we are confident of strong growth this year.”
The increased use of data by consumers, businesses and governments results in an increased demand for our optical transmission equipment. The advent of 5G and IOT, densification of fiber networks and proliferation of cloud services, continues to provide a long-term growth opportunity for our business, since our customers need to enhance their network infrastructure.
Mr. Venkatesh Gadiyar, CFO said, “We made a good start to the year with strong revenue growth and increased profitability on account of higher gross margins. As a deep-technology company, we stay committed to invest in R&D, which has seen a year-on-year increase of 37% on a gross basis. We will continue to tightly manage our working capital and expect to see some improvement during the year. We have a strong balance sheet to support our growth and our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, stood at
During the quarter, we were granted 2 patents resulting in a cumulative grant of 78 patents. As on date, we have filed for 342 patents. We also won the “Best Exporter Award” from Federation of Karnataka Chambers of Commerce and Industry.
Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that it has implemented a high-capacity 100G DWDM network for MCM Telecom in Mexico. MCM Telecom is a premier enterprise service provider offering corporate internet, unified communications, dedicated links, data center and hybrid cloud services.
Founded in 1996, MCM Telecom has been operating one of the most sophisticated telecom networks in Mexico offering high-performance telecom services exclusively for businesses. In 2004, MCM was the first telephony provider in Mexico to offer advanced VoIP services in a cloud model, using carrier-class infrastructure. MCM is one of the most innovative telecom companies in Mexico with several firsts to its credit that includes the first provider in Mexico to have a fully Gigabit Ethernet MAN, the first to deliver layer 2 and layer 3 transport, and the first to deliver 10 Gbps and 100 Gbps ports to clients.
“As a premier provider of telecommunication services to businesses in Mexico, we seek to partner with vendors offering cutting-edge technology solutions to evolve our state-of-the-art networks and deliver new high-value service offerings. After evaluating multiple equipment vendors we picked Tejas Networks for both our Metro and Inter-city optical network rollouts across Mexico. Tejas has an innovative Converged Packet Optical (CPO) portfolio enabling the delivery of a versatile mix of resilient and high-quality MEF CE2.0 services for connectivity.” said Mr. Mark Hilton, COO of MCM Telecom.
“With the emergence of cloud-based applications and massive web-scale data centers, service providers are witnessing a surge in demand for high-capacity and ultra-reliable connections from enterprises,” said Sanjay Nayak, CEO and MD, Tejas Networks. “We are delighted to work with MCM in building a world-class optical infrastructure that can fully meet their evolving network requirements. We see exciting growth opportunities in Mexico and we are deepening our commitment to the market with additional investments.”
Kumar Sivarajan, Chief Technology Officer, Tejas Networks, added, “Enterprise demand for ubiquitous and ultra-fast connectivity has never been stronger. Growing adoption of video and digitalization of businesses is accelerating this trend and calls for advanced network solutions. Tejas offers a versatile suite of packet optical products that enable highly scalable and agile networks with low lifecycle cost of ownership which are a perfect fit for telcos experiencing unprecedented traffic growth in their networks.”
Founded in 1996, MCM Telecom has been operating one of the most sophisticated telecom networks in Mexico offering high-performance telecom services exclusively for businesses. In 2004, MCM was the first telephony provider in Mexico to offer advanced VoIP services in a cloud model, using carrier-class infrastructure. MCM is one of the most innovative telecom companies in Mexico with several firsts to its credit that includes the first provider in Mexico to have a fully Gigabit Ethernet MAN, the first to deliver layer 2 and layer 3 transport, and the first to deliver 10 Gbps and 100 Gbps ports to clients.
“As a premier provider of telecommunication services to businesses in Mexico, we seek to partner with vendors offering cutting-edge technology solutions to evolve our state-of-the-art networks and deliver new high-value service offerings. After evaluating multiple equipment vendors we picked Tejas Networks for both our Metro and Inter-city optical network rollouts across Mexico. Tejas has an innovative Converged Packet Optical (CPO) portfolio enabling the delivery of a versatile mix of resilient and high-quality MEF CE2.0 services for connectivity.” said Mr. Mark Hilton, COO of MCM Telecom.
“With the emergence of cloud-based applications and massive web-scale data centers, service providers are witnessing a surge in demand for high-capacity and ultra-reliable connections from enterprises,” said Sanjay Nayak, CEO and MD, Tejas Networks. “We are delighted to work with MCM in building a world-class optical infrastructure that can fully meet their evolving network requirements. We see exciting growth opportunities in Mexico and we are deepening our commitment to the market with additional investments.”
Kumar Sivarajan, Chief Technology Officer, Tejas Networks, added, “Enterprise demand for ubiquitous and ultra-fast connectivity has never been stronger. Growing adoption of video and digitalization of businesses is accelerating this trend and calls for advanced network solutions. Tejas offers a versatile suite of packet optical products that enable highly scalable and agile networks with low lifecycle cost of ownership which are a perfect fit for telcos experiencing unprecedented traffic growth in their networks.”
Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that Wheat State Telephone, a progressive rural carrier in the USA, has selected Tejas’ TJ1400 Packet Transport Networking (PTN) product to offer cutting-edge telecommunication services in south-central Kansas. Wheat State Telephone is a local telecommunications provider in Kansas and serves primarily residential customers while delivering services to select business customers.
Since 1950, Wheat State Telephone has been on the cutting-edge of telecommunications services. Wheat State service territory comprises two non-contiguous areas which poses a challenge in terms of offering quality services to their customers. However, Wheat State continues to deliver advanced network solutions including Fiber-to-the-Home (FTTH) services to their customers.
Randy Hoffman, General Manager at Wheat State said, “As a leading rural technologies provider in the state of Kansas, we seek to build networks that are reliable, scalable and cost-efficient. We selected Tejas Networks for their feature-rich packet transport products based on MPLS-TP technology that considerably simplified our network architecture and operations by minimizing routing overheads. Tejas’ MPLS-TP based approach offers a compelling alternative to rural broadband operators by delivering better performance and economics when compared to traditional router-driven models.”
“Tejas has a deep appreciation of the practical challenges faced by rural service providers, having implemented many rural fiber-based broadband networks across the world,” said Sanjay Nayak, CEO and MD at Tejas Networks. “Tejas’ TJ1400 is a unique converged product that combines MPLS-TP based packet transmission services with GPON based FTTx access on the same platform. This enables carriers to efficiently scale their networks while delivering next-generation residential and business services.”
Harmeet Singh, Senior Vice President – North America Sales at Tejas Networks, said, “We are honored to partner with Wheat State in rolling out a world-class packet optical network in rural Kansas. TJ1400 is a versatile product in the converged packet optical (CPO) space and we will actively support the Wheat State team to unleash the full benefits of this platform as they expand their network footprint and service offerings in the region.”
Since 1950, Wheat State Telephone has been on the cutting-edge of telecommunications services. Wheat State service territory comprises two non-contiguous areas which poses a challenge in terms of offering quality services to their customers. However, Wheat State continues to deliver advanced network solutions including Fiber-to-the-Home (FTTH) services to their customers.
Randy Hoffman, General Manager at Wheat State said, “As a leading rural technologies provider in the state of Kansas, we seek to build networks that are reliable, scalable and cost-efficient. We selected Tejas Networks for their feature-rich packet transport products based on MPLS-TP technology that considerably simplified our network architecture and operations by minimizing routing overheads. Tejas’ MPLS-TP based approach offers a compelling alternative to rural broadband operators by delivering better performance and economics when compared to traditional router-driven models.”
“Tejas has a deep appreciation of the practical challenges faced by rural service providers, having implemented many rural fiber-based broadband networks across the world,” said Sanjay Nayak, CEO and MD at Tejas Networks. “Tejas’ TJ1400 is a unique converged product that combines MPLS-TP based packet transmission services with GPON based FTTx access on the same platform. This enables carriers to efficiently scale their networks while delivering next-generation residential and business services.”
Harmeet Singh, Senior Vice President – North America Sales at Tejas Networks, said, “We are honored to partner with Wheat State in rolling out a world-class packet optical network in rural Kansas. TJ1400 is a versatile product in the converged packet optical (CPO) space and we will actively support the Wheat State team to unleash the full benefits of this platform as they expand their network footprint and service offerings in the region.”
Tejas Networks [BSE: 540595, NSE: TEJASNET] today reported its financial results for the fourth quarter and year ended March 31, 2018. Tejas Networks designs, develops, manufactures and sells high-performance optical and data networking products, which are used to build high-speed communication networks over optical fiber.
For the year ended March 31, 2018, our consolidated revenues (net of taxes and pass-through component sale) were Rs. 739.9 crore which was a year-on-year decline of 9.6% and our profit before tax and exceptional item was Rs 106 crore which was a year-on-year increase of 26.0%. For Q4’18 our consolidated revenues (net of taxes and pass-through component sale) were Rs 98.7 crore, a decline of 61.2% and our net profit after tax of Rs 29.1 crore, a decline of 56.7% on a year-on-year basis.
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “Revenue decline during the year is primarily due to late receipt of a few large orders. However, we ended the year with a healthy backlog of Rs 579 crore, which gives us the necessary momentum for a strong revenue growth in the coming year.”
The fundamental growth drivers of our business continue to be strong. Globally, the increased use of mobile data as well as broadband by consumers, businesses and governments, results in an increased demand for our optical transmission equipment. With expansion of 4G networks and advent of 5G and IOT in future, we expect this trend to continue for the next few years. During fiscal 2018, our India revenues were strong, particularly in the government sector. Our international business is going through a transition, where we saw a decline in revenues from our OEM customers, while we increased our focus on building our direct sales. Our continued investment in international direct sales is showing positive signs, as we see strong business momentum building up across customers in SE Asia, Africa and USA. India will continue to lead our growth with increased capex in fiber optic infrastructure by telecom operators and execution of government projects such as Bharatnet Phase 2. However, due to the nature of our business, our revenue on a quarter-onquarter basis will continue to be lumpy.
Mr. Venkatesh Gadiyar, CFO said, “We continue to see good progress in our working capital management which saw a reduction of Rs 133.1 crore for the year. Our cash and cash equivalents including investment in liquid mutual funds and deposits with financial institutions at the end of the year was Rs 512.7 crore. We announced a new capital allocation policy of paying upto 25% of our free cash flows as dividend (including dividend distribution tax) every year. We believe we have a strong balance sheet to support our future growth.”
During the year, we were granted 20 patents resulting in a cumulative grant of 76 patents. As on date, we have filed for 341 patents.
For the year ended March 31, 2018, our consolidated revenues (net of taxes and pass-through component sale) were Rs. 739.9 crore which was a year-on-year decline of 9.6% and our profit before tax and exceptional item was Rs 106 crore which was a year-on-year increase of 26.0%. For Q4’18 our consolidated revenues (net of taxes and pass-through component sale) were Rs 98.7 crore, a decline of 61.2% and our net profit after tax of Rs 29.1 crore, a decline of 56.7% on a year-on-year basis.
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “Revenue decline during the year is primarily due to late receipt of a few large orders. However, we ended the year with a healthy backlog of Rs 579 crore, which gives us the necessary momentum for a strong revenue growth in the coming year.”
The fundamental growth drivers of our business continue to be strong. Globally, the increased use of mobile data as well as broadband by consumers, businesses and governments, results in an increased demand for our optical transmission equipment. With expansion of 4G networks and advent of 5G and IOT in future, we expect this trend to continue for the next few years. During fiscal 2018, our India revenues were strong, particularly in the government sector. Our international business is going through a transition, where we saw a decline in revenues from our OEM customers, while we increased our focus on building our direct sales. Our continued investment in international direct sales is showing positive signs, as we see strong business momentum building up across customers in SE Asia, Africa and USA. India will continue to lead our growth with increased capex in fiber optic infrastructure by telecom operators and execution of government projects such as Bharatnet Phase 2. However, due to the nature of our business, our revenue on a quarter-onquarter basis will continue to be lumpy.
Mr. Venkatesh Gadiyar, CFO said, “We continue to see good progress in our working capital management which saw a reduction of Rs 133.1 crore for the year. Our cash and cash equivalents including investment in liquid mutual funds and deposits with financial institutions at the end of the year was Rs 512.7 crore. We announced a new capital allocation policy of paying upto 25% of our free cash flows as dividend (including dividend distribution tax) every year. We believe we have a strong balance sheet to support our future growth.”
During the year, we were granted 20 patents resulting in a cumulative grant of 76 patents. As on date, we have filed for 341 patents.
Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that it has received a new purchase order of Rs. 336 Cr from BSNL for expansion of BharatNet, the world’s largest rural broadband project. Tejas Networks designs develops, manufactures and sells high-performance optical and data networking products, which are used to build high-speed communication networks over optical fiber.
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “We are pleased to receive this additional purchase order from BSNL for BharatNet. This order reinforces the confidence that BSNL and BBNL have in our capabilities to successfully execute large national projects of strategic importance. For BharatNet Phase-1, we played a major role and were honoured as the best performing equipment partner by the Government of India.”
Mr. Nayak further added, “For the fiscal year 2018, we earlier expected our revenue growth to be around 5%. The nature of our business is that our revenues depend on timely win of large orders. Due to delays in receiving certain large orders, we expect our revenues for fiscal year 2018 to show a year-on-year decline. However, we continue to see strong growth potential for our business over the next few years, especially from our customers in India, driven by the exponential growth in data traffic and robust capex investments on broadband infrastructure. Given our healthy order pipeline and strong business momentum, we are well set for strong revenue and profitability growth for the coming fiscal year.”
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “We are pleased to receive this additional purchase order from BSNL for BharatNet. This order reinforces the confidence that BSNL and BBNL have in our capabilities to successfully execute large national projects of strategic importance. For BharatNet Phase-1, we played a major role and were honoured as the best performing equipment partner by the Government of India.”
Mr. Nayak further added, “For the fiscal year 2018, we earlier expected our revenue growth to be around 5%. The nature of our business is that our revenues depend on timely win of large orders. Due to delays in receiving certain large orders, we expect our revenues for fiscal year 2018 to show a year-on-year decline. However, we continue to see strong growth potential for our business over the next few years, especially from our customers in India, driven by the exponential growth in data traffic and robust capex investments on broadband infrastructure. Given our healthy order pipeline and strong business momentum, we are well set for strong revenue and profitability growth for the coming fiscal year.”
Tejas Networks (BSE: 540595, NSE: TEJASNET) today reported its financial results for the third quarter and nine months ended December 31, 2017. Tejas Networks designs, develops, manufactures and Sells high-performance and cost-competitive optical and data networking products, which are used to build high-speed communication networks over optical fiber.
On a Sequential basis, for C3’18 our consolidated revenues (net of taxes and pass-through component sale to our contract manufacturers) grew by 5.2% to Rs. 226.15 crore. Our operating profit grew by 21.7% and net profit after tax by 12.2%. As a percentage of consolidated revenues (net of taxes and pass-through component Sale) our operating margin was 15.7% in O318 compared to 13.6% in O2’18 and our net profit after tax was 13.3% as compared to net profit of 12.5% in the previous quarter.
For the nine month period ended December 31, 2017, our revenues (net of taxes and pass-through component Sale) were Rs. 641.16 crore which was a growth of 13.5% year-on-year, our operating profits grew by 22.1% year-on-year and our net profit (before exceptional item) grew by 37.4% year-on-year.
For the quarter ended December 31, 2017, our consolidated revenues (net of taxes and pass-through Component Sale) declined by 11.0% year-on-year and our operating profits declined by 29.0% and net profit (before exceptional item) declined by 28.5% year-on-year.
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “Globally, there is a robust demand for optical transmission equipment, driven by increased usage of mobile data as well as broadband by consumers, businesses and governments. With expansion of 4G networks and advent of 5G networks in future, we expect that this trend will Continue for the next few years”. He added “We continue to see strong growth led by India, particularly driven by government-funded projects. We see greater opportunities in large telecom projects, however, Some of these projects are getting shifted to the next financial year. Due to this, we expect our revenue growth during the current financial year to be around 5%”.
Mr. Venkatesh Gadiyar, CFO said, “As a technology product company, we continue to see the benefits of operating leverage, which is reflected in our strong profitability growth on a Nine months basis. For the nine months ended, our net profit after tax was Rs. 77.45 crore and we generated cash of Rs. 179.18 crore from operations. We are a debt-free Company and our current cash and cash equivalent including investment in liquid mutual funds was Rs 449.50 crore.”
During the quarter, Tejas won many awards, including “Best performing equipment supply partner for Bharatnet Phase-1” from Minister of Communications (Independent Charge) Government of India, “High Growth Electronic Hardware Exporter” from Software Technology Parks of India, Karnataka and “Digital India Excellence Award for Electronics Manufacturing”, at the PAN-IIM World Management Conference.
On a Sequential basis, for C3’18 our consolidated revenues (net of taxes and pass-through component sale to our contract manufacturers) grew by 5.2% to Rs. 226.15 crore. Our operating profit grew by 21.7% and net profit after tax by 12.2%. As a percentage of consolidated revenues (net of taxes and pass-through component Sale) our operating margin was 15.7% in O318 compared to 13.6% in O2’18 and our net profit after tax was 13.3% as compared to net profit of 12.5% in the previous quarter.
For the nine month period ended December 31, 2017, our revenues (net of taxes and pass-through component Sale) were Rs. 641.16 crore which was a growth of 13.5% year-on-year, our operating profits grew by 22.1% year-on-year and our net profit (before exceptional item) grew by 37.4% year-on-year.
For the quarter ended December 31, 2017, our consolidated revenues (net of taxes and pass-through Component Sale) declined by 11.0% year-on-year and our operating profits declined by 29.0% and net profit (before exceptional item) declined by 28.5% year-on-year.
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “Globally, there is a robust demand for optical transmission equipment, driven by increased usage of mobile data as well as broadband by consumers, businesses and governments. With expansion of 4G networks and advent of 5G networks in future, we expect that this trend will Continue for the next few years”. He added “We continue to see strong growth led by India, particularly driven by government-funded projects. We see greater opportunities in large telecom projects, however, Some of these projects are getting shifted to the next financial year. Due to this, we expect our revenue growth during the current financial year to be around 5%”.
Mr. Venkatesh Gadiyar, CFO said, “As a technology product company, we continue to see the benefits of operating leverage, which is reflected in our strong profitability growth on a Nine months basis. For the nine months ended, our net profit after tax was Rs. 77.45 crore and we generated cash of Rs. 179.18 crore from operations. We are a debt-free Company and our current cash and cash equivalent including investment in liquid mutual funds was Rs 449.50 crore.”
During the quarter, Tejas won many awards, including “Best performing equipment supply partner for Bharatnet Phase-1” from Minister of Communications (Independent Charge) Government of India, “High Growth Electronic Hardware Exporter” from Software Technology Parks of India, Karnataka and “Digital India Excellence Award for Electronics Manufacturing”, at the PAN-IIM World Management Conference.
