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Tejas Networks [BSE: 540595, NSE: TEJASNET] today reported its financial results for the second quarter ended September 30, 2021. Tejas Networks designs, develops, manufactures and sells high-performance telecom and networking products, which are used to build high-speed communication networks.
For Q2-FY22, consolidated net revenue was Rs. 172.8 crore, which was a YoY increase of 61.8%, resulting in a profit before tax of Rs. 3.3 crore as compared to Rs. 4.5 crore, for corresponding previous period. Profit after tax was Rs. 3.7 crore as compared to Rs. 4.5 crore for corresponding previous period.
For the half year ended September 30, 2021, net revenue was Rs. 317 crore, which was a YoY increase of 72.1%, resulting in a profit after tax of Rs. 11.2 crore, as compared to a loss of Rs. 5.2 crore for corresponding previous period.
During the quarter, Tejas Networks received a strategic investment of Rs. 837.5 crore towards preferential allotment of shares and warrants, from Panatone Finvest Limited (a subsidiary of Tata Sons Private Limited).
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “We continue to see positive growth momentum in our business. With strong bookings of Rs. 258 crore during the quarter, our order book increased to Rs. 783 crores. However, during the quarter our revenues as well as margins were adversely impacted because of the ongoing global semiconductor component shortage, due to which we are facing challenges in the form of longer lead times and increase in our component costs. Government of India has launched various supportive policies for promoting “designed and made in India” telecom products and we are pleased that our application for the Performance Linked Incentive (PLI) scheme has been approved.”
Mr. Venkatesh Gadiyar, CFO said, “During the quarter, we improved our collections and reduced our DSO as well as working capital, despite continuing to proactively invest in inventory to secure long-lead time components. As on September 30, 2021 our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, increased to Rs. 1,195 crores and we continue to be a debt-free Company. With our healthy cash reserves, we are in a strong position to invest for our business growth”.
For Q2-FY22, consolidated net revenue was Rs. 172.8 crore, which was a YoY increase of 61.8%, resulting in a profit before tax of Rs. 3.3 crore as compared to Rs. 4.5 crore, for corresponding previous period. Profit after tax was Rs. 3.7 crore as compared to Rs. 4.5 crore for corresponding previous period.
For the half year ended September 30, 2021, net revenue was Rs. 317 crore, which was a YoY increase of 72.1%, resulting in a profit after tax of Rs. 11.2 crore, as compared to a loss of Rs. 5.2 crore for corresponding previous period.
During the quarter, Tejas Networks received a strategic investment of Rs. 837.5 crore towards preferential allotment of shares and warrants, from Panatone Finvest Limited (a subsidiary of Tata Sons Private Limited).
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “We continue to see positive growth momentum in our business. With strong bookings of Rs. 258 crore during the quarter, our order book increased to Rs. 783 crores. However, during the quarter our revenues as well as margins were adversely impacted because of the ongoing global semiconductor component shortage, due to which we are facing challenges in the form of longer lead times and increase in our component costs. Government of India has launched various supportive policies for promoting “designed and made in India” telecom products and we are pleased that our application for the Performance Linked Incentive (PLI) scheme has been approved.”
Mr. Venkatesh Gadiyar, CFO said, “During the quarter, we improved our collections and reduced our DSO as well as working capital, despite continuing to proactively invest in inventory to secure long-lead time components. As on September 30, 2021 our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, increased to Rs. 1,195 crores and we continue to be a debt-free Company. With our healthy cash reserves, we are in a strong position to invest for our business growth”.
Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that it has been selected by Bharti Airtel (“Airtel”), India’s premier communications solutions provider, to enhance Airtel’s optical network capacity in key metropolitan markets.
Tejas will supply, install and support its state-of-the-art TJ1600 DWDM/OTN products for extending Airtel’s optical networks towards the edge, supporting 5G backhaul, B2B services and broadband applications. The enhanced capacity will enable Airtel to deliver a superior experience to its customers as data consumption in India grows rapidly.
Mr. Randeep Sekhon, Chief Technology Officer of Bharti Airtel said, “Airtel has been making significant investments in expanding its metro network capacity as part of its 5G readiness and for catering to increased bandwidth consumption by fixed-line and enterprise customers. We are delighted to partner with Tejas in this key network intervention that will enable us to deliver world-class experience to our customers.”
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “We are delighted to expand our decade-long partnership with Airtel, which has established itself as one of the premier telecom service providers in the world. Under this new contract, we will provide our multi-terabit TJ1600 DWDM/OTN products to augment Airtel’s metro network capacity right up the network edge. We are happy to see that our TJ1600 platform, with its “pay-as-you-grow” modular design supporting 100Gbps to 600Gbps wavelengths and a universal OTN/DWDM architecture offering advanced bandwidth expansion and optimization, is gaining significant traction among leading telecom service providers around the globe.”
Tejas will supply, install and support its state-of-the-art TJ1600 DWDM/OTN products for extending Airtel’s optical networks towards the edge, supporting 5G backhaul, B2B services and broadband applications. The enhanced capacity will enable Airtel to deliver a superior experience to its customers as data consumption in India grows rapidly.
Mr. Randeep Sekhon, Chief Technology Officer of Bharti Airtel said, “Airtel has been making significant investments in expanding its metro network capacity as part of its 5G readiness and for catering to increased bandwidth consumption by fixed-line and enterprise customers. We are delighted to partner with Tejas in this key network intervention that will enable us to deliver world-class experience to our customers.”
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “We are delighted to expand our decade-long partnership with Airtel, which has established itself as one of the premier telecom service providers in the world. Under this new contract, we will provide our multi-terabit TJ1600 DWDM/OTN products to augment Airtel’s metro network capacity right up the network edge. We are happy to see that our TJ1600 platform, with its “pay-as-you-grow” modular design supporting 100Gbps to 600Gbps wavelengths and a universal OTN/DWDM architecture offering advanced bandwidth expansion and optimization, is gaining significant traction among leading telecom service providers around the globe.”
Panatone Finvest Limited to make an open offer to acquire up to 26.0% stake in accordance with SEBI Takeover Regulations
Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that it has executed definitive agreements with Panatone Finvest Limited (“Panatone”), a subsidiary of Tata Sons Private Limited (“TATA”), which will entail:
a) Preferential allotment of 1.94 crore equity shares at a price per equity share of INR 258 per share aggregating to INR 500 crore;
b) Preferential allotment of 3.68 crore warrants, each carrying a right to subscribe to 1 (one) equity share at an exercise price of INR 258 per equity share aggregating to INR 950 crore, which may be exercised by Panatone in one or more tranches during the period commencing from the date of allotment of the warrants until expiry of 11 (eleven) months from the date of allotment of the warrants;
c) Preferential allotment of 1.55 crore warrants, each carrying a right to subscribe to 1 (one) equity share at an exercise price of INR 258 per equity share aggregating to INR 400 crore, which may be exercised by Panatone in one or more tranches during the period commencing from the expiry of 12 (twelve) months from the date of allotment of the warrants until expiry of 18 (eighteen) months from the date of allotment of the warrants;
d) Acquisition of up to 13 lakh equity shares of the Tejas Networks from certain personnel in management, at a price not exceeding INR 258 per equity share aggregating to INR 34 crore, subject to such terms and conditions as mutually agreed between the parties;
Panatone and other certain companies of the Tata group would make a Public Announcement to acquire up to 4.03 crore equity shares of Tejas Networks representing 26.00% of the emerging voting capital in accordance with SEBI Takeover Regulations.
Tejas Networks sees a very large opportunity in the telecom sector both in India and global markets with the new cycle of investments in 5G and fiber-based broadband rollouts. Tejas Networks will utilize the proceeds raised from the preferential allotment to invest organically and inorganically in the research & development, sales and marketing, people, infrastructure and to enhance its manufacturing and operational capabilities to cater to this large market opportunity, and for other general corporate purpose.
Speaking on this transaction, Mr. Saurabh Agrawal, Executive Director of Tata Sons Private Limited, said “We are excited to partner with Tejas Networks, India’s leading telecom and network company with a strong DNA of R&D. We look forward to working with the highly experienced management team of Tejas Networks and creating a full stack of globally competitive wireline and wireless products.”
Mr. V Balakrishnan, Chairman of Tejas Networks, said “We are delighted about our association with the Tata group, which has a long history of building highly successful global businesses of scale. This association provides us the necessary financial resources, global relationships and strong ecosystem to innovate and scale our business.”
Mr. Sanjay Nayak, CEO and Managing Director at Tejas Networks said “We are privileged to be part of the Tata group, which has a rich legacy as India’s most visible and trusted business brand. Tejas Networks was started with a vision of creating a top-tier global telecom equipment company from India. The association with Tata group will accelerate the realisation of this vision and enable us to address the large market opportunity available to us to build a financially strong global company, backed by a trusted brand. I am fully committed to making this a success and am excited about the next phase of our journey.”
Sanjay Nayak shall continue as Managing Director and Chief Executive Officer to lead Tejas Networks along with the existing management team through the next phase of growth.
The preferential allotment of the equity shares and warrants has been approved by the Board of Directors of Tejas Networks and the transactions are subject to shareholders’ approval and other customary closing conditions and approvals.
Kotak Mahindra Capital Company Limited is acting as the manager to the open offer and Khaitan & Co is acting as the legal advisor to the transaction.
About Panatone: Panatone is a subsidiary of the Tata Sons Private Limited
About Tata Group: Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, comprising 30 companies across ten verticals. The group operates in more than 100 countries across six continents, with a mission ‘To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust’. Tata Sons is the principal investment holding company and promoter of Tata companies. Sixty-six percent of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation and art and culture. In 2019-20, the revenue of Tata companies, taken together, was $106 billion (INR 7.5 trillion). These companies collectively employ over 750,000 people. Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors. There are 29 publicly-listed Tata enterprises with a combined market capitalisation of $123 billion (INR 9.3 trillion) as on March 31, 2020. Companies include Tata Consultancy Services, Tata Motors, Tata Steel, Tata Chemicals, Tata Consumer Products, Titan, Tata Capital, Tata Power, Tata Advanced Systems, Indian Hotels and Tata Communications. For more details visit www.tata.com.
Additional Information
SHAREHOLDERS AND INVESTORS ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH AND THE STOCK EXCHANGES CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION.
Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that it has executed definitive agreements with Panatone Finvest Limited (“Panatone”), a subsidiary of Tata Sons Private Limited (“TATA”), which will entail:
a) Preferential allotment of 1.94 crore equity shares at a price per equity share of INR 258 per share aggregating to INR 500 crore;
b) Preferential allotment of 3.68 crore warrants, each carrying a right to subscribe to 1 (one) equity share at an exercise price of INR 258 per equity share aggregating to INR 950 crore, which may be exercised by Panatone in one or more tranches during the period commencing from the date of allotment of the warrants until expiry of 11 (eleven) months from the date of allotment of the warrants;
c) Preferential allotment of 1.55 crore warrants, each carrying a right to subscribe to 1 (one) equity share at an exercise price of INR 258 per equity share aggregating to INR 400 crore, which may be exercised by Panatone in one or more tranches during the period commencing from the expiry of 12 (twelve) months from the date of allotment of the warrants until expiry of 18 (eighteen) months from the date of allotment of the warrants;
d) Acquisition of up to 13 lakh equity shares of the Tejas Networks from certain personnel in management, at a price not exceeding INR 258 per equity share aggregating to INR 34 crore, subject to such terms and conditions as mutually agreed between the parties;
Panatone and other certain companies of the Tata group would make a Public Announcement to acquire up to 4.03 crore equity shares of Tejas Networks representing 26.00% of the emerging voting capital in accordance with SEBI Takeover Regulations.
Tejas Networks sees a very large opportunity in the telecom sector both in India and global markets with the new cycle of investments in 5G and fiber-based broadband rollouts. Tejas Networks will utilize the proceeds raised from the preferential allotment to invest organically and inorganically in the research & development, sales and marketing, people, infrastructure and to enhance its manufacturing and operational capabilities to cater to this large market opportunity, and for other general corporate purpose.
Speaking on this transaction, Mr. Saurabh Agrawal, Executive Director of Tata Sons Private Limited, said “We are excited to partner with Tejas Networks, India’s leading telecom and network company with a strong DNA of R&D. We look forward to working with the highly experienced management team of Tejas Networks and creating a full stack of globally competitive wireline and wireless products.”
Mr. V Balakrishnan, Chairman of Tejas Networks, said “We are delighted about our association with the Tata group, which has a long history of building highly successful global businesses of scale. This association provides us the necessary financial resources, global relationships and strong ecosystem to innovate and scale our business.”
Mr. Sanjay Nayak, CEO and Managing Director at Tejas Networks said “We are privileged to be part of the Tata group, which has a rich legacy as India’s most visible and trusted business brand. Tejas Networks was started with a vision of creating a top-tier global telecom equipment company from India. The association with Tata group will accelerate the realisation of this vision and enable us to address the large market opportunity available to us to build a financially strong global company, backed by a trusted brand. I am fully committed to making this a success and am excited about the next phase of our journey.”
Sanjay Nayak shall continue as Managing Director and Chief Executive Officer to lead Tejas Networks along with the existing management team through the next phase of growth.
The preferential allotment of the equity shares and warrants has been approved by the Board of Directors of Tejas Networks and the transactions are subject to shareholders’ approval and other customary closing conditions and approvals.
Kotak Mahindra Capital Company Limited is acting as the manager to the open offer and Khaitan & Co is acting as the legal advisor to the transaction.
About Panatone: Panatone is a subsidiary of the Tata Sons Private Limited
About Tata Group: Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, comprising 30 companies across ten verticals. The group operates in more than 100 countries across six continents, with a mission ‘To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust’. Tata Sons is the principal investment holding company and promoter of Tata companies. Sixty-six percent of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation and art and culture. In 2019-20, the revenue of Tata companies, taken together, was $106 billion (INR 7.5 trillion). These companies collectively employ over 750,000 people. Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors. There are 29 publicly-listed Tata enterprises with a combined market capitalisation of $123 billion (INR 9.3 trillion) as on March 31, 2020. Companies include Tata Consultancy Services, Tata Motors, Tata Steel, Tata Chemicals, Tata Consumer Products, Titan, Tata Capital, Tata Power, Tata Advanced Systems, Indian Hotels and Tata Communications. For more details visit www.tata.com.
Additional Information
SHAREHOLDERS AND INVESTORS ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH AND THE STOCK EXCHANGES CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION.
Tejas Networks [BSE: 540595, NSE: TEJASNET] today reported its financial results for the first quarter ended June 30, 2021. Tejas Networks designs, develops, manufactures and sells high-performance optical and data networking products, which are used to build high-speed communication networks.
For Q1-FY22, consolidated net revenue was Rs. 144.3 crore, which was a YoY increase of 86.4%, resulting in a profit before tax of Rs. 8.3 crore as compared to a loss before tax of Rs. 9.8 crore, for corresponding previous period. Profit after tax was Rs. 7.6 crore as compared to loss after tax of Rs. 9.8 crore for corresponding previous period.
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “We are on track for our business growth and improved profitability, driven by rapid adoption of broadband services and increased bandwidth consumption, which is generating robust demand for our equipment. Our international revenues grew by 81.8 % YoY and was 52% of total revenues for the quarter. Our order book is healthy and has increased to Rs. 701 crore. We continue to see supportive Government policies for promoting domestic manufacturing and we have applied under the Government’s Performance Linked Incentive (PLI) scheme for telecom equipment.
Mr. Venkatesh Gadiyar, CFO said, “With increased revenues, we continue to improve our profitability. However, our working capital was higher compared to previous quarter, primarily due to delayed payments from few of our customers because of COVID lockdowns, and higher payments made to our component suppliers to minimize supply chain disruptions. We expect to get our working capital normalized in the next few quarters. As on June 30, 2021 our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, stood at Rs. 312 crores and we continue to be a debt-free Company.”
For Q1-FY22, consolidated net revenue was Rs. 144.3 crore, which was a YoY increase of 86.4%, resulting in a profit before tax of Rs. 8.3 crore as compared to a loss before tax of Rs. 9.8 crore, for corresponding previous period. Profit after tax was Rs. 7.6 crore as compared to loss after tax of Rs. 9.8 crore for corresponding previous period.
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “We are on track for our business growth and improved profitability, driven by rapid adoption of broadband services and increased bandwidth consumption, which is generating robust demand for our equipment. Our international revenues grew by 81.8 % YoY and was 52% of total revenues for the quarter. Our order book is healthy and has increased to Rs. 701 crore. We continue to see supportive Government policies for promoting domestic manufacturing and we have applied under the Government’s Performance Linked Incentive (PLI) scheme for telecom equipment.
Mr. Venkatesh Gadiyar, CFO said, “With increased revenues, we continue to improve our profitability. However, our working capital was higher compared to previous quarter, primarily due to delayed payments from few of our customers because of COVID lockdowns, and higher payments made to our component suppliers to minimize supply chain disruptions. We expect to get our working capital normalized in the next few quarters. As on June 30, 2021 our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, stood at Rs. 312 crores and we continue to be a debt-free Company.”
Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that TelOne, one of Zimbabwe’s largest telecom entities and the most affordable internet service provider, has deployed Tejas’ 100G/100G+ coherent DWDM solution. TelOne has the widest network coverage in Zimbabwe with connectivity across the country, anchored on its robust backbone infrastructure. TelOne has strong connections to multiple undersea cable systems and has shareholding in the West Indian Ocean Cable Company (WIOCC), which has a major stake in the East African Submarine System (EASSy) cable.
Tejas’ state-of-the-art 100G DWDM/OTN solution was selected by TelOne after a competitive bidding process and a successful field trial. Tejas was able to successfully demonstrate high-speed transmission of multiple 100G lambdas while meeting the stringent performance and reliability requirements in a cost-effective manner.
Mr. Sanjay Nayak, CEO and MD of Tejas Networks said, “We are delighted that TelOne has deployed our latest 100G/100G+ DWDM/OTN technology for its network expansion. Our solution empowers our customers to diversify their existing DWDM vendor base and use our proven, cost-effective solution to expand and inter-operate. It is a prime example of how our open and flexible software-defined-hardware™ architecture is enabling our customers to become “future-ready” by enabling them to upgrade their existing networks with the latest technologies at incremental cost.”
Mrs. Chipo Mtasa, Managing Director at TelOne said, “TelOne offers access to a vast network footprint in Zimbabwe. With rising demand for bandwidth and higher speeds from our customers, we were looking for a versatile solution that could significantly expand the capacity on our existing fibre network with incremental investments. We were impressed by the capabilities of the Tejas’ solution and its ability to seamlessly carry 100G services with no inter-operability issues. Tejas products have very versatile software, are simple to configure and easy to operate. We appreciate the support of a highly responsive Tejas team, that was able to design and deliver an end-to-end network solution in the shortest period of time.”
Mr. Rakesh Raghoonandan, Vice President Sales – Tejas Networks Africa said, “In the TelOne network we delivered our DWDM/OTN solution using our scalable and versatile TJ1600 platform. Our solution unlocks new opportunities for service providers to multiply the available capacity on their networks by more than 10X, without being limited by their existing network deployment. The TelOne deployment is yet another example of our cutting-edge technology that we have deployed over several networks across Africa.”
Tejas’ state-of-the-art 100G DWDM/OTN solution was selected by TelOne after a competitive bidding process and a successful field trial. Tejas was able to successfully demonstrate high-speed transmission of multiple 100G lambdas while meeting the stringent performance and reliability requirements in a cost-effective manner.
Mr. Sanjay Nayak, CEO and MD of Tejas Networks said, “We are delighted that TelOne has deployed our latest 100G/100G+ DWDM/OTN technology for its network expansion. Our solution empowers our customers to diversify their existing DWDM vendor base and use our proven, cost-effective solution to expand and inter-operate. It is a prime example of how our open and flexible software-defined-hardware™ architecture is enabling our customers to become “future-ready” by enabling them to upgrade their existing networks with the latest technologies at incremental cost.”
Mrs. Chipo Mtasa, Managing Director at TelOne said, “TelOne offers access to a vast network footprint in Zimbabwe. With rising demand for bandwidth and higher speeds from our customers, we were looking for a versatile solution that could significantly expand the capacity on our existing fibre network with incremental investments. We were impressed by the capabilities of the Tejas’ solution and its ability to seamlessly carry 100G services with no inter-operability issues. Tejas products have very versatile software, are simple to configure and easy to operate. We appreciate the support of a highly responsive Tejas team, that was able to design and deliver an end-to-end network solution in the shortest period of time.”
Mr. Rakesh Raghoonandan, Vice President Sales – Tejas Networks Africa said, “In the TelOne network we delivered our DWDM/OTN solution using our scalable and versatile TJ1600 platform. Our solution unlocks new opportunities for service providers to multiply the available capacity on their networks by more than 10X, without being limited by their existing network deployment. The TelOne deployment is yet another example of our cutting-edge technology that we have deployed over several networks across Africa.”
Tejas Networks [BSE: 540595, NSE: TEJASNET] today reported its financial results for the fourth quarter ended March 31, 2021. Tejas Networks designs, develops, manufactures and sells high-performance optical and data networking products, which are used to build high-speed communication networks.
For Q4-FY21, consolidated net revenue was Rs. 201.6 crore, which was a YoY increase of 282.6%*, resulting in a profit before tax of Rs. 18.5 crore as compared to a loss before tax and before impairment of intangible assets of Rs. 56.7 crore, for corresponding previous period. Profit after tax was Rs. 33.6 crore as compared to loss after tax and before impairment of intangible asset of Rs. 56.7 crore for corresponding previous period.
For the year ended March 31, 2021, net revenue was Rs. 514.8 crore, which was a YoY increase of 35.6%, with a profit before tax of Rs. 22.5 crore as compared to a loss before tax and before impairment of intangibles was Rs. 68.7 crore for corresponding previous period. Profit after tax was Rs. 37.5 crore as compared to a loss after tax and before impairment of intangible asset of Rs. 167.3 crore for corresponding previous period.
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “We ended our financial year with strong revenue as well as profitability growth in Q4-FY21. Our international business during the year saw a robust YoY revenue growth of 62% and was 40% of our total revenue (up from 33% during FY20), led by customers in Africa, Mid-east and South-East Asia. We are seeing positive tailwinds for our business in India due to increased demand for high-speed broadband connections and Government policy for promoting domestic telecom equipment. We continued to see strong order inflows as well as new customer wins, resulting in a YoY booking growth of 54% and we ended the year with an order book of Rs. 679 crore.”
Mr. Venkatesh Gadiyar, CFO said, “Our quarterly financial performance continues to improve, as we generated cash of Rs. 47 crore and Rs. 158 crore from operations during Q4-FY21 and full FY21 respectively. We also improved our working capital, with reduction in inventory levels as well as receivables. During the quarter, our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, improved by Rs. 29 crore to Rs. 364 crore as on March 31, 2021 and we continue to be a debt-free Company.”
As on date, we have filed for 349 patents of which 127 have been granted.
* Q4 FY-20 was an exception
For Q4-FY21, consolidated net revenue was Rs. 201.6 crore, which was a YoY increase of 282.6%*, resulting in a profit before tax of Rs. 18.5 crore as compared to a loss before tax and before impairment of intangible assets of Rs. 56.7 crore, for corresponding previous period. Profit after tax was Rs. 33.6 crore as compared to loss after tax and before impairment of intangible asset of Rs. 56.7 crore for corresponding previous period.
For the year ended March 31, 2021, net revenue was Rs. 514.8 crore, which was a YoY increase of 35.6%, with a profit before tax of Rs. 22.5 crore as compared to a loss before tax and before impairment of intangibles was Rs. 68.7 crore for corresponding previous period. Profit after tax was Rs. 37.5 crore as compared to a loss after tax and before impairment of intangible asset of Rs. 167.3 crore for corresponding previous period.
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “We ended our financial year with strong revenue as well as profitability growth in Q4-FY21. Our international business during the year saw a robust YoY revenue growth of 62% and was 40% of our total revenue (up from 33% during FY20), led by customers in Africa, Mid-east and South-East Asia. We are seeing positive tailwinds for our business in India due to increased demand for high-speed broadband connections and Government policy for promoting domestic telecom equipment. We continued to see strong order inflows as well as new customer wins, resulting in a YoY booking growth of 54% and we ended the year with an order book of Rs. 679 crore.”
Mr. Venkatesh Gadiyar, CFO said, “Our quarterly financial performance continues to improve, as we generated cash of Rs. 47 crore and Rs. 158 crore from operations during Q4-FY21 and full FY21 respectively. We also improved our working capital, with reduction in inventory levels as well as receivables. During the quarter, our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, improved by Rs. 29 crore to Rs. 364 crore as on March 31, 2021 and we continue to be a debt-free Company.”
As on date, we have filed for 349 patents of which 127 have been granted.
* Q4 FY-20 was an exception
