Tejas Networks Q2 FY27: Revenue up 55%, EBITDA positive

Key development and why it matters

Tejas Networks Ltd reported a sharp year-on-year rise in Q2 FY27 revenue, alongside a turnaround in operating profitability, as it began initial shipments tied to the BSNL 4G expansion order. Revenue from operations for the quarter stood at INR 406 crore, up from INR 262 crore in the same quarter last year, implying roughly 55% growth. EBITDA swung to a profit of INR 108 crore versus an EBITDA loss of INR 293 crore a year ago, indicating a meaningful improvement in operating metrics. The company still reported a net loss, but management pointed to a narrower quarterly PAT loss of INR 207 crore compared with INR 307 crore in Q2 FY26.

What the company disclosed to exchanges

Tejas Networks made multiple disclosures under Regulation 30 of SEBI (LODR) related to investor communication around Q2 FY27 results. The company filed an earnings call transcript for Q2 FY27, and also announced the outcome of an analyst or investor meet, including an audio recording of the earnings call. According to the company’s investor communication, the Q2 FY27 earnings call was held on October 16, 2026. The audio recording was made available on the company website for shareholder and analyst access.

Q2 FY27 financial snapshot

Management stated that Q2 FY27 revenue was INR 406 crore, compared with INR 257 crore on a year-on-year basis in the earnings call discussion, and INR 262 crore as referenced in the CFO’s remarks comparing Q2 FY27 with Q2 FY26. The company also noted that Q2 sales were broadly flat versus Q1 at INR 406 crore. For the first half, H1 FY27 revenue was reported at INR 808 crore compared with INR 459 crore in H1 FY26. While profitability improved sharply at the EBITDA line, Tejas remained loss-making at the net level, with the quarterly PAT loss narrowing to INR 207 crore.

Order book expands on BSNL 4G rollout

A central theme of management commentary was the scale-up in the order pipeline. Tejas said its order book at the end of Q2 stood at INR 2,315 crore, up from INR 1,500 crore at the end of Q1. The company attributed the jump largely to BSNL’s 4G expansion program. Management referenced letters of intent and purchase orders for more than 18,000 4G sites, including a specific LOI covering 18,685 BSNL locations.

Products and projects discussed on the call

In its operational update, Tejas said Q2 revenues were driven by shipments of optical, IP and FTTx products to private operators and system integrators. The company also said it started initial shipments of the BSNL expansion order during the quarter. Beyond wireless, Tejas disclosed an LOI from a new system-integrator partner to supply IP MPLS routers for BharatNet middle-mile upgrades in three Indian states. It also cited a project to build a pan-India O-RAN network for a government enterprise, fresh GPON FTTx orders from Indian ISPs, and the addition of a pan-African operator customer for its 400G optical equipment.

India concentration remains high

Tejas highlighted a geographic skew in both revenue and backlog. For Q2, management said India contributed 88% of revenue, with international markets at 12%. The order book was even more concentrated, at 96% India and 4% international, reflecting the scale of the domestic public-sector opportunity led by the BSNL rollout. Management also acknowledged that leverage, inventory levels and India concentration remain areas investors track closely.

Investor access: transcript and audio recording

The company disclosed that the audio recording of its Q2 FY27 earnings call is publicly available on its website. The recording link was shared in the investor feed as: tejasnetworks.com/wp-content/uploads/2026/10/Tejas_Q2_FY27_EarningsCall.mp3. Tejas also noted that its Q2 FY27 earnings call was conducted on October 16, 2026, and the availability of the recording was disclosed on October 17, 2026. Separately, the earnings call transcript for Q2 FY27 was referenced as uploaded on October 22, 2026, with source indicated as BSE.

Key numbers at a glance

Market and investor lens

The company’s disclosures framed Q2 FY27 as a quarter where operating performance improved as scale returned and early BSNL-related shipments began. At the same time, the continuing net loss keeps attention on execution and working-capital management as the large domestic program ramps. A separate investor feed item showed the stock marked at TEJS -0.67% alongside the results summary, indicating a modest move around the information flow. The next set of investor cues is likely to come from subsequent order book conversion, shipment schedules, and any incremental updates shared through exchange filings and investor calls.

Conclusion

Tejas Networks’ Q2 FY27 update combined a strong revenue jump to INR 406 crore with a swing to positive EBITDA of INR 108 crore, while the PAT loss narrowed to INR 207 crore. The order book expanded to INR 2,315 crore, with management attributing the increase largely to BSNL’s 4G expansion LOIs and purchase orders covering more than 18,000 sites, including 18,685 locations cited. Investors now have access to both the transcript and the audio recording of the October 16, 2026 earnings call through the company’s disclosures, which will shape how the market tracks execution through the rest of FY27.