Tejas Networks Q4 FY26: Order Book Builds as FY27 Becomes the Pivot

Q4 FY26 revenue from operations was INR 333 crore and PAT was a loss of INR 211 crore.

FY26 revenue from operations was INR 1,103 crore and PAT was a loss of INR 909 crore.

Order book was INR 1,514 crore at end of Q4 FY26, versus INR 1,019 crore at end of Q4 FY25 (49% YoY growth as stated by the company).

No. Management stated on the call that the INR 1,514 crore order book does not include the BSNL 4G project.

For Q4 FY26 (excluding other operating revenue), India contributed 88% and international contributed 12%.

Inventory was INR 2,438 crore, trade receivables were INR 3,258 crore, cash and cash equivalents were INR 505 crore, borrowings were INR 4,035 crore, and net debt was INR 3,531 crore.

Management stated it expects a good portion of the order book to convert to revenue in FY27, expects significant BSNL collections during FY27 (linked to milestones), and aims for improved financial results, but did not provide formal numeric guidance.