The shares of the data networking products manufacturer hit 20 percent upper circuit after the company’s revenue increased by 291 percent YoY and 109 percent QoQ in the fourth quarter.
With a market capitalization of Rs 18,554.26 crore, the shares of Tejas Networks Ltd were trading at Rs 1,086.90 per share, increasing around 20 percent as compared to the previous closing price of Rs 905.75 apiece.
Looking into the company’s Performance, Tejas Networks Ltd’s revenue increased by 109 percent on a quarter-on-quarter basis from Rs. 560 crores in Q3FY24 to Rs.1,171 crores in Q4FY24. Further, revenue increased by 291 percent year on year from Rs. 299 crores in Q4FY23 to Rs.1,171 crores in Q4FY24.
Tejas Networks Ltd’s net profit increased on a quarter-on-quarter basis from a loss of Rs. 45 crore in Q3FY24 to a profit of Rs. 147 crore in Q4FY24. Further, net profit increased year on year from a loss of Rs. 11 crore in Q4FY23 to a profit of Rs. 147 crore in Q4FY24.
As of Q4FY24, the firm has an order book worth Rs. 8,221 crores. Previously, its subsidiary business Saankhya Labs won a Rs. 96.4 crore provisional purchase order from NSIL (Department of Space) for the installation of two-way Satcom Xponders for communication and support systems aboard marine fishing vessels.
Furthermore, the Tata Group firm earned Rs. 32.66 crores in incentives for fiscal year 2022-23 via the PLI (Production-Linked Incentive) Scheme for Telecom and Networking Products. Tejas and its subsidiaries were granted 22 patents in Q4 FY24, for a total of 335.
The firm generates money from a variety of sources, with Indian private enterprises contributing for 50% of total revenue as of FY23. Furthermore, 26 percent of income is generated by government-owned firms, with the remaining 24 percent coming from overseas corporations.
Tejas Networks Ltd develops and produces wireline and wireless networking products, with an emphasis on technology, innovation, and R&D. TNL carrier-class solutions are utilized by telecom service providers, utilities, governments, and defense networks in over 75 countries.
Written by:- Abhishek Singh
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