Duyuru • May 08
Tejas Networks Limited, Annual General Meeting, Jun 26, 2026 Tejas Networks Limited, Annual General Meeting, Jun 26, 2026. New Risk • Apr 16
New major risk - Revenue and earnings growth Earnings have declined by 22% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 22% per year over the past 5 years. Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Apr 16
Full year 2026 earnings released: ₹51.35 loss per share (vs ₹25.75 profit in FY 2025) Full year 2026 results: ₹51.35 loss per share (down from ₹25.75 profit in FY 2025). Revenue: ₹11.4b (down 87% from FY 2025). Net loss: ₹9.09b (down 304% from profit in FY 2025). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Duyuru • Apr 10
Tejas Networks Limited to Report Fiscal Year 2026 Results on Apr 15, 2026 Tejas Networks Limited announced that they will report fiscal year 2026 results on Apr 15, 2026 Duyuru • Mar 04
Tejas Networks Limited Launches Hyper-Scalable Data Center Interconnect Platform Tejas Networks announced the launch of TJ1600-D3, its next-generation, versatile WDM (Wavelength Division Multiplexing) optical transport product which is purpose-built to meet the surging demand for terabit-scale data center interconnections worldwide. The product was unveiled at Mobile World Congress (MWC) 2026, Barcelona, Spain. TJ1600-D3 is powered by the latest DSPs (Digital Signal Processors) and chipsets, engineered for operators and enterprises demanding extreme capacity, carrier-grade reliability, and best-in-class energy efficiency. It supports a range of performance-optimized and power-optimized traffic sleds, with flexible line rates from 400G to 1.2T per wavelength and scaling up to 51.2 Tbps of shelf capacity. Redundant controllers, fans, and power modules combined with universal AC/DC power compatibility ensure that TJ1600-D3 delivers highly resilient services in an optimized 3-RU form factor. New Risk • Jan 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.3% average weekly change). Reported Earnings • Jan 11
Third quarter 2026 earnings released: ₹11.09 loss per share (vs ₹9.44 profit in 3Q 2025) Third quarter 2026 results: ₹11.09 loss per share (down from ₹9.44 profit in 3Q 2025). Revenue: ₹3.14b (down 88% from 3Q 2025). Net loss: ₹1.97b (down 219% from profit in 3Q 2025). Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 10% per year. Duyuru • Jan 02
Tejas Networks Limited to Report Q3, 2026 Results on Jan 09, 2026 Tejas Networks Limited announced that they will report Q3, 2026 results at 12:08 PM, Indian Standard Time on Jan 09, 2026 Reported Earnings • Oct 19
Second quarter 2026 earnings released: ₹17.38 loss per share (vs ₹16.06 profit in 2Q 2025) Second quarter 2026 results: ₹17.38 loss per share (down from ₹16.06 profit in 2Q 2025). Revenue: ₹2.62b (down 91% from 2Q 2025). Net loss: ₹3.07b (down 212% from profit in 2Q 2025). Revenue is forecast to stay flat during the next 2 years compared to a 22% growth forecast for the Communications industry in Asia. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Duyuru • Oct 10
Tejas Networks Limited to Report Q2, 2026 Results on Oct 17, 2025 Tejas Networks Limited announced that they will report Q2, 2026 results at 12:08 PM, Indian Standard Time on Oct 17, 2025 Reported Earnings • Jul 16
First quarter 2026 earnings released: ₹10.99 loss per share (vs ₹4.54 profit in 1Q 2025) First quarter 2026 results: ₹10.99 loss per share (down from ₹4.54 profit in 1Q 2025). Revenue: ₹2.12b (down 86% from 1Q 2025). Net loss: ₹1.94b (down 350% from profit in 1Q 2025). Revenue is expected to decline by 27% p.a. on average during the next 2 years, while revenues in the Communications industry in Asia are expected to grow by 18%. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Duyuru • Jul 09
Tejas Networks Limited to Report Q1, 2026 Results on Jul 14, 2025 Tejas Networks Limited announced that they will report Q1, 2026 results at 12:08 PM, Indian Standard Time on Jul 14, 2025 Upcoming Dividend • Jun 12
Upcoming dividend of ₹2.50 per share Eligible shareholders must have bought the stock before 19 June 2025. Payment date: 27 July 2025. Payout ratio is a comfortable 9.7% but the company is not cash flow positive. Trailing yield: 0.4%. Lower than top quartile of Indian dividend payers (1.2%). In line with average of industry peers (0.3%). Reported Earnings • Jun 08
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: ₹25.75 (up from ₹3.71 in FY 2024). Revenue: ₹89.2b (up 261% from FY 2024). Net income: ₹4.47b (up ₹3.84b from FY 2024). Profit margin: 5.0% (up from 2.5% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 55%. Revenue is expected to decline by 36% p.a. on average during the next 2 years, while revenues in the Communications industry in Asia are expected to grow by 18%. Over the last 3 years on average, earnings per share has increased by 120% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 02
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹705, the stock trades at a forward P/E ratio of 46x. Average forward P/E is 25x in the Communications industry in Asia. Total returns to shareholders of 61% over the past three years. Duyuru • Apr 28
Tejas Networks Limited, Annual General Meeting, Jun 27, 2025 Tejas Networks Limited, Annual General Meeting, Jun 27, 2025, at 15:00 Indian Standard Time. New Risk • Apr 27
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.3% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings are forecast to decline by an average of 30% per year for the foreseeable future. High level of non-cash earnings (30% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Significant insider selling over the past 3 months (₹560m sold). Duyuru • Apr 26
Tejas Networks Limited announces Annual dividend, payable on July 27, 2025 Tejas Networks Limited announced Annual dividend of INR 2.5000 per share payable on July 27, 2025, ex-date on June 19, 2025 and record date on June 19, 2025. Reported Earnings • Apr 26
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: ₹25.75 (up from ₹3.71 in FY 2024). Revenue: ₹89.7b (up 263% from FY 2024). Net income: ₹4.47b (up ₹3.84b from FY 2024). Profit margin: 5.0% (up from 2.5% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 55%. Revenue is expected to decline by 36% p.a. on average during the next 2 years, while revenues in the Communications industry in Asia are expected to grow by 18%. Over the last 3 years on average, earnings per share has increased by 120% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹800, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 32x in the Communications industry in Asia. Total returns to shareholders of 108% over the past three years. Recent Insider Transactions • Feb 21
Insider recently sold ₹52m worth of stock On the 12th of February, Vishwakumara Kayargadde sold around 64k shares on-market at roughly ₹816 per share. This transaction amounted to 35% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹91m. Insiders have been net sellers, collectively disposing of ₹1.8b more than they bought in the last 12 months. Recent Insider Transactions • Feb 12
Insider recently sold ₹89m worth of stock On the 6th of February, Vishwakumara Kayargadde sold around 100k shares on-market at roughly ₹882 per share. This transaction amounted to 35% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹1.7b more than they bought in the last 12 months. Recent Insider Transactions • Feb 04
Insider recently sold ₹56m worth of stock On the 28th of January, Vishwakumara Kayargadde sold around 62k shares on-market at roughly ₹898 per share. This transaction amounted to 18% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹1.5b more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ₹868, the stock trades at a trailing P/E ratio of 22.9x. Average trailing P/E is 37x in the Communications industry in India. Total returns to shareholders of 85% over the past three years. New Risk • Jan 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Significant insider selling over the past 3 months (₹347m sold). Reported Earnings • Jan 24
Third quarter 2025 earnings released: EPS: ₹9.44 (vs ₹2.64 loss in 3Q 2024) Third quarter 2025 results: EPS: ₹9.44 (up from ₹2.64 loss in 3Q 2024). Revenue: ₹26.6b (up 374% from 3Q 2024). Net income: ₹1.66b (up ₹2.11b from 3Q 2024). Profit margin: 6.2% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Duyuru • Jan 24
Tejas Networks Limited Appoints Sanjay Malik as EVP - Chief Strategy and Business Officer Tejas Networks Limited appointed Sanjay Malik, former India Country Head of Nokia, as EVP - Chief Strategy and Business Officer. In this role, Sanjay will work with the CEO and the senior management team at Tejas to drive the overall corporate strategy, business management and engagement with various stakeholders including government, customers and partners across India and International markets. Sanjay Malik has extensive experience in the global telecom industry. In his long stint at Nokia spanning over two decades, Sanjay served in a variety of senior leadership roles across strategy, sales, business management and operational execution both in India and globally. Most recently, for nearly eight years, he held the position of SVP and India Country Head and led Nokia India to market leadership position in the country. Sanjay holds a post-graduate degree (MBA) from IIM, Mumbai and has also completed various Executive Leadership Programs in his professional career. Recent Insider Transactions • Dec 18
Insider recently sold ₹45m worth of stock On the 13th of December, Sunil Handoo sold around 34k shares on-market at roughly ₹1,316 per share. This transaction amounted to 26% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹1.4b more than they bought in the last 12 months. Recent Insider Transactions • Dec 01
Insider recently sold ₹5.2m worth of stock On the 28th of November, Neelagandan P G sold around 4k shares on-market at roughly ₹1,318 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹42m. Insiders have been net sellers, collectively disposing of ₹1.3b more than they bought in the last 12 months. Recent Insider Transactions • Nov 20
Insider recently sold ₹2.9m worth of stock On the 11th of November, Neelagandan P G sold around 2k shares on-market at roughly ₹1,428 per share. This transaction amounted to 7.5% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹42m. Insiders have been net sellers, collectively disposing of ₹1.3b more than they bought in the last 12 months. Recent Insider Transactions • Nov 16
Insider recently sold ₹27m worth of stock On the 8th of November, Rupinder Singh sold around 20k shares on-market at roughly ₹1,377 per share. This transaction amounted to 33% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹42m. Insiders have been net sellers, collectively disposing of ₹1.2b more than they bought in the last 12 months. New Risk • Nov 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (100% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Shareholders have been diluted in the past year (3.3% increase in shares outstanding). Significant insider selling over the past 3 months (₹130m sold). Buy Or Sell Opportunity • Nov 01
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to ₹1,371. The fair value is estimated to be ₹1,135, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 84% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 32% in a year. Earnings are forecast to grow by 139% in the next year. Recent Insider Transactions • Oct 27
Chief Human Resources Officer recently sold ₹7.8m worth of stock On the 24th of October, Abhijat Mitra sold around 6k shares on-market at roughly ₹1,306 per share. This transaction amounted to 50% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹42m. Insiders have been net sellers, collectively disposing of ₹1.1b more than they bought in the last 12 months. Reported Earnings • Oct 19
Second quarter 2025 earnings released: EPS: ₹16.06 (vs ₹0.74 loss in 2Q 2024) Second quarter 2025 results: EPS: ₹16.06 (up from ₹0.74 loss in 2Q 2024). Revenue: ₹28.2b (up ₹24.3b from 2Q 2024). Net income: ₹2.75b (up ₹2.88b from 2Q 2024). Profit margin: 9.8% (up from net loss in 2Q 2024). The move to profitability was driven by higher revenue. Revenue is forecast to stay flat during the next 2 years compared to a 20% growth forecast for the Communications industry in Asia. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. New Risk • Oct 12
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Shareholders have been diluted in the past year (3.2% increase in shares outstanding). Significant insider selling over the past 3 months (₹109m sold). Recent Insider Transactions • Sep 13
Insider recently sold ₹2.7m worth of stock On the 5th of September, Rupinder Singh sold around 2k shares on-market at roughly ₹1,335 per share. This transaction amounted to 3.2% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹14m. Insiders have been net sellers, collectively disposing of ₹994m more than they bought in the last 12 months. Recent Insider Transactions • Aug 31
Insider recently sold ₹1.3m worth of stock On the 26th of August, Gajendra Ranka sold around 1k shares on-market at roughly ₹1,282 per share. This transaction amounted to 2.1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹38m. Insiders have been net sellers, collectively disposing of ₹1.1b more than they bought in the last 12 months. Recent Insider Transactions • Aug 23
Insider recently sold ₹1.2m worth of stock On the 14th of August, Gajendra Ranka sold around 1k shares on-market at roughly ₹1,198 per share. This transaction amounted to 2.1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹38m. Insiders have been net sellers, collectively disposing of ₹1.2b more than they bought in the last 12 months. Reported Earnings • Jul 21
First quarter 2025 earnings released: EPS: ₹4.54 (vs ₹1.56 loss in 1Q 2024) First quarter 2025 results: EPS: ₹4.54 (up from ₹1.56 loss in 1Q 2024). Revenue: ₹15.0b (up ₹13.1b from 1Q 2024). Net income: ₹774.8m (up ₹1.04b from 1Q 2024). Profit margin: 5.2% (up from net loss in 1Q 2024). The move to profitability was driven by higher revenue. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Communications industry in Asia. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 91% per year, which means it is well ahead of earnings. Recent Insider Transactions • Jun 15
Insider recently sold ₹38m worth of stock On the 7th of June, Parag Naik sold around 32k shares on-market at roughly ₹1,198 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹268m. Insiders have been net sellers, collectively disposing of ₹1.5b more than they bought in the last 12 months. Recent Insider Transactions • May 21
Insider recently sold ₹12m worth of stock On the 13th of May, Neelagandan P G sold around 11k shares on-market at roughly ₹1,173 per share. This transaction amounted to 26% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹268m. Insiders have been net sellers, collectively disposing of ₹1.5b more than they bought in the last 12 months. Recent Insider Transactions • May 03
Co-Founder recently sold ₹268m worth of stock On the 29th of April, Arnob Roy sold around 247k shares on-market at roughly ₹1,084 per share. This transaction amounted to 33% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Arnob has been a net seller over the last 12 months, reducing personal holdings by ₹805m. Duyuru • Apr 23
Tejas Networks Limited, Annual General Meeting, Jun 28, 2024 Tejas Networks Limited, Annual General Meeting, Jun 28, 2024, at 15:00 Indian Standard Time. New Risk • Apr 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 9.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (85% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (9.8% average weekly change). Significant insider selling over the past 3 months (₹75m sold). Reported Earnings • Apr 23
Full year 2024 earnings released: EPS: ₹3.71 (vs ₹2.37 loss in FY 2023) Full year 2024 results: EPS: ₹3.71 (up from ₹2.37 loss in FY 2023). Revenue: ₹25.4b (up 175% from FY 2023). Net income: ₹629.8m (up ₹993.9m from FY 2023). Profit margin: 2.5% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 35% p.a. on average during the next 2 years, compared to a 21% growth forecast for the Communications industry in Asia. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 78% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Apr 22
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to ₹906. The fair value is estimated to be ₹752, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 36% over the last 3 years. Earnings per share has declined by 29%. Price Target Changed • Apr 13
Price target decreased by 7.1% to ₹975 Down from ₹1,050, the current price target is provided by 1 analyst. New target price is 25% above last closing price of ₹783. Stock is up 22% over the past year. The company posted a net loss per share of ₹2.37 last year. Recent Insider Transactions • Feb 22
Co-Founder recently sold ₹75m worth of stock On the 15th of February, Arnob Roy sold around 100k shares on-market at roughly ₹750 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Arnob has been a net seller over the last 12 months, reducing personal holdings by ₹640m. Reported Earnings • Jan 20
Third quarter 2024 earnings released: ₹2.64 loss per share (vs ₹0.71 loss in 3Q 2023) Third quarter 2024 results: ₹2.64 loss per share (further deteriorated from ₹0.71 loss in 3Q 2023). Revenue: ₹5.75b (up 110% from 3Q 2023). Net loss: ₹448.7m (loss widened 312% from 3Q 2023). Revenue is forecast to grow 57% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Communications industry in Asia. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 83% per year, which means it is well ahead of earnings. Recent Insider Transactions • Dec 13
Co-Founder recently sold ₹42m worth of stock On the 8th of December, Arnob Roy sold around 50k shares on-market at roughly ₹834 per share. This transaction amounted to 7.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Arnob has been a net seller over the last 12 months, reducing personal holdings by ₹565m. Reported Earnings • Oct 21
Second quarter 2024 earnings released: ₹0.74 loss per share (vs ₹0.071 profit in 2Q 2023) Second quarter 2024 results: ₹0.74 loss per share (down from ₹0.071 profit in 2Q 2023). Revenue: ₹4.14b (up 88% from 2Q 2023). Net loss: ₹126.4m (down ₹137.1m from profit in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 112% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Oct 21
Tejas Networks Limited Announces CFO Changes Tejas Networks Limited announced that Mr. Venkatesh Gadiyar, Chief Financial Officer of the Company has tendered his resignation vide the Letter of Resignation dated October 20, 2023 and the Board of Directors of the Company noted the same. Consequently, Mr. Venkatesh Gadiyar will cease to be Chief Financial Officer of the Company and will be relieved from the services of the Company with effect from close of business hours on November 30, 2023. The Board of Directors of the Company based on the recommendation of the Nomination and Remuneration Committee of the Board and as approved by the Audit Committee of the Board has appointed Mr. Sumit Dhingra as Chief Financial Officer of the Company with effect from December 1, 2023. The term of appointment shall commence from December 1, 2023 and continue till his resignation or him attaining the age of retirement as per Company's Internal Human Resource Policy, whichever is earlier. Experience of over 16 years in corporate finance, performance management,business planning, acquisitions, fund-raising, strategic analysis, and project management across a spectrum of industries. Currently working as Assistant Vice President in the Group CFO's Office at Tata Sons Private Limited. In the past, Sumit has also worked with Kotak Investment Banking and Everstone Capital. Mr. Sumit Dhingra is a MBA from Indian Institute of Management Calcutta & BE (CSC) from Delhi Institute of Technology. Recent Insider Transactions • Sep 13
Co-Founder recently sold ₹23m worth of stock On the 8th of September, Arnob Roy sold around 25k shares on-market at roughly ₹905 per share. This transaction amounted to 3.2% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹85m. Arnob has been a net seller over the last 12 months, reducing personal holdings by ₹455m. Recent Insider Transactions • Aug 20
Co-Founder & CTO recently sold ₹17m worth of stock On the 17th of August, Kumar Sivarajan sold around 19k shares on-market at roughly ₹856 per share. This transaction amounted to 1.6% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹43m. Kumar has been a net seller over the last 12 months, reducing personal holdings by ₹173m. Duyuru • Jul 23
Tejas Networks Limited Announces Reconstitution of the Audit Committee with Effect from July 21, 2023 Tejas Networks Limited announced reconstitution of the Audit Committee with effect from July 21, 2023. Composition of Audit Committee: Mr. Chandrashekhar Bhaskar Bhave - Chairperson; Mr. P R Ramesh - Member; Mr. A S Lakshminarayanan - Member; Prof. Bhaskar Ramamurthi - Member; Mrs. Alice G Vaidyan - Member. Reported Earnings • Jul 22
First quarter 2024 earnings released: ₹1.56 loss per share (vs ₹0.45 loss in 1Q 2023) First quarter 2024 results: ₹1.56 loss per share (further deteriorated from ₹0.45 loss in 1Q 2023). Revenue: ₹2.07b (up 65% from 1Q 2023). Net loss: ₹262.9m (loss widened 296% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has increased by 147% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Jun 13
Co-Founder recently sold ₹43m worth of stock On the 9th of June, Sanjay Nayak sold around 60k shares on-market at roughly ₹716 per share. This transaction amounted to 2.0% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹83m. Sanjay has been a net seller over the last 12 months, reducing personal holdings by ₹229m. Reported Earnings • Jun 04
Full year 2023 earnings released: ₹2.37 loss per share (vs ₹5.97 loss in FY 2022) Full year 2023 results: ₹2.37 loss per share (improved from ₹5.97 loss in FY 2022). Revenue: ₹9.22b (up 67% from FY 2022). Net loss: ₹364.1m (loss narrowed 42% from FY 2022). Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has increased by 153% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • May 27
Co-Founder recently sold ₹41m worth of stock On the 23rd of May, Arnob Roy sold around 61k shares on-market at roughly ₹665 per share. This transaction amounted to 7.8% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹83m. Arnob has been a net seller over the last 12 months, reducing personal holdings by ₹359m. Recent Insider Transactions • May 17
Co-Founder recently sold ₹83m worth of stock On the 12th of May, Arnob Roy sold around 123k shares on-market at roughly ₹676 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Arnob has been a net seller over the last 12 months, reducing personal holdings by ₹319m. Recent Insider Transactions • May 01
Co-Founder recently sold ₹20m worth of stock On the 27th of April, Arnob Roy sold around 32k shares on-market at roughly ₹635 per share. This transaction amounted to 9.5% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Arnob has been a net seller over the last 12 months, reducing personal holdings by ₹153m. Reported Earnings • Apr 22
Full year 2023 earnings released: ₹2.46 loss per share (vs ₹5.97 loss in FY 2022) Full year 2023 results: ₹2.46 loss per share (improved from ₹5.97 loss in FY 2022). Revenue: ₹10.0b (up 81% from FY 2022). Net loss: ₹364.1m (loss narrowed 42% from FY 2022). Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has increased by 158% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 06
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Additional Independent Non-Executive Director Alice Vaidyan was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 08
Third quarter 2023 earnings released: ₹0.71 loss per share (vs ₹2.13 loss in 3Q 2022) Third quarter 2023 results: ₹0.71 loss per share (improved from ₹2.13 loss in 3Q 2022). Revenue: ₹2.96b (up 176% from 3Q 2022). Net loss: ₹108.8m (loss narrowed 55% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has increased by 95% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Dec 11
Insider recently sold ₹2.1m worth of stock On the 6th of December, Neelagandan P G sold around 3k shares on-market at roughly ₹637 per share. This transaction amounted to 6.1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹67m. Insiders have been net sellers, collectively disposing of ₹467m more than they bought in the last 12 months. Reported Earnings • Oct 22
Second quarter 2023 earnings released: EPS: ₹0.07 (vs ₹0.37 in 2Q 2022) Second quarter 2023 results: EPS: ₹0.07 (down from ₹0.37 in 2Q 2022). Revenue: ₹2.40b (up 39% from 2Q 2022). Net income: ₹10.7m (down 71% from 2Q 2022). Profit margin: 0.4% (down from 2.1% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 108% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Sep 16
Insider recently sold ₹1.9m worth of stock On the 9th of September, Neelagandan P G sold around 3k shares on-market at roughly ₹634 per share. This transaction amounted to 7.0% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹70m. Insiders have been net sellers, collectively disposing of ₹394m more than they bought in the last 12 months. Recent Insider Transactions • Sep 09
Senior Vice President of Technology recently sold ₹10m worth of stock On the 5th of September, Milind Kulkarni sold around 18k shares on-market at roughly ₹580 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹70m. Insiders have been net sellers, collectively disposing of ₹402m more than they bought in the last 12 months. Recent Insider Transactions • Aug 21
Co-Founder recently sold ₹47m worth of stock On the 19th of August, Arnob Roy sold around 95k shares on-market at roughly ₹490 per share. This was the largest sale by an insider in the last 3 months. Arnob has been a seller over the last 12 months, reducing personal holdings by ₹49m. Recent Insider Transactions • Aug 14
Co-Founder recently sold ₹2.5m worth of stock On the 8th of August, Arnob Roy sold around 5k shares on-market at roughly ₹498 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹2.8m. This was Arnob's only on-market trade for the last 12 months. Recent Insider Transactions • Aug 10
Insider recently sold ₹1.5m worth of stock On the 3rd of August, K. Gowda sold around 3k shares on-market at roughly ₹484 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹2.8m. Insiders have been net sellers, collectively disposing of ₹180m more than they bought in the last 12 months. Reported Earnings • Jul 07
Full year 2022 earnings released: ₹5.97 loss per share (vs ₹4.06 profit in FY 2021) Full year 2022 results: ₹5.97 loss per share (down from ₹4.06 profit in FY 2021). Revenue: ₹5.53b (up 4.8% from FY 2021). Net loss: ₹627.1m (down 267% from profit in FY 2021). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 51% per year, which means it is well ahead of earnings. Duyuru • Jul 05
Tejas Networks Limited to Report Q4, 2023 Results on Apr 21, 2023 Tejas Networks Limited announced that they will report Q4, 2023 results on Apr 21, 2023 Recent Insider Transactions • Jun 22
Head of Investor Relations recently sold ₹1.0m worth of stock On the 14th of June, Santosh Kesavan sold around 2k shares on-market at roughly ₹454 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹2.8m. Insiders have been net sellers, collectively disposing of ₹797m more than they bought in the last 12 months. Recent Insider Transactions • Jun 11
Insider recently sold ₹2.8m worth of stock On the 6th of June, Milind Kulkarni sold around 6k shares on-market at roughly ₹466 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹793m more than they bought in the last 12 months. Reported Earnings • Apr 27
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: ₹5.97 loss per share (down from ₹4.06 profit in FY 2021). Revenue: ₹5.51b (up 4.3% from FY 2021). Net loss: ₹627.1m (down 267% from profit in FY 2021). Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) missed analyst estimates. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 37% per year, which means it is well ahead of earnings. Reported Earnings • Jan 21
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: ₹2.13 loss per share (down from ₹1.00 profit in 3Q 2021). Revenue: ₹1.07b (down 21% from 3Q 2021). Net loss: ₹243.0m (down 363% from profit in 3Q 2021). Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) missed analyst estimates. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Recent Insider Transactions • Dec 17
Insider recently sold ₹40m worth of stock On the 13th of December, Govindan Kutty sold around 102k shares on-market at roughly ₹392 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹835m more than they bought in the last 12 months. Reported Earnings • Oct 22
Second quarter 2022 earnings released: EPS ₹0.37 (vs ₹0.49 in 2Q 2021) The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: ₹1.73b (up 57% from 2Q 2021). Net income: ₹36.6m (down 19% from 2Q 2021). Profit margin: 2.1% (down from 4.1% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improved over the past week After last week's 16% share price gain to ₹427, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 25x in the Communications industry in Asia. Total returns to shareholders of 39% over the past three years. Recent Insider Transactions • Aug 26
Insider recently sold ₹7.3m worth of stock On the 18th of August, Chetan Vaidya sold around 20k shares on-market at roughly ₹365 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹103m. Insiders have been net sellers, collectively disposing of ₹720m more than they bought in the last 12 months. Recent Insider Transactions • Aug 14
Insider recently sold ₹17m worth of stock On the 11th of August, Sarath Kumar sold around 50k shares on-market at roughly ₹343 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹103m. Insiders have been net sellers, collectively disposing of ₹695m more than they bought in the last 12 months. Recent Insider Transactions • Aug 03
Co-Founder & CTO recently sold ₹103m worth of stock On the 30th of July, Kumar Sivarajan sold around 400k shares on-market at roughly ₹258 per share. This was the largest sale by an insider in the last 3 months. Kumar has been a seller over the last 12 months, reducing personal holdings by ₹206m. Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment improved over the past week After last week's 27% share price gain to ₹234, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 26x in the Communications industry in Asia. Total loss to shareholders of 15% over the past three years. Reported Earnings • Jul 23
First quarter 2022 earnings released: EPS ₹0.81 (vs ₹1.06 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹1.44b (up 80% from 1Q 2021). Net income: ₹75.5m (up ₹173.1m from 1Q 2021). Profit margin: 5.2% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Jun 09
Insider recently sold ₹2.6m worth of stock On the 3rd of June, R. Murali sold around 14k shares on-market at roughly ₹181 per share. In the last 3 months, they made an even bigger sale worth ₹14m. Insiders have been net sellers, collectively disposing of ₹57m more than they bought in the last 12 months. Reported Earnings • Jun 06
Full year 2021 earnings released: EPS ₹4.06 (vs ₹25.76 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹5.28b (up 33% from FY 2020). Net income: ₹375.4m (up ₹2.75b from FY 2020). Profit margin: 7.1% (up from net loss in FY 2020). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • May 27
Insider recently sold ₹13m worth of stock On the 21st of May, R. Murali sold around 75k shares on-market at roughly ₹175 per share. In the last 3 months, they made an even bigger sale worth ₹14m. Insiders have been net sellers, collectively disposing of ₹53m more than they bought in the last 12 months.