The company’s total revenue from operations plunged 88.38% to Rs 306.79 crore in Q3 FY26, down from Rs 2,642.24 crore recorded in the corresponding quarter of the previous year.
Pre-tax loss for the quarter stood at Rs 302.87 crore in Q3 FY26, compared to a profit before tax of Rs 211.27 crore in Q3 FY25.
The company’s inventory stood at Rs 2,363 crore in Q3 FY26, largely unchanged from Rs 2,383 crore in the previous quarter. Management said the inventory will be converted into finished goods and shipped over the coming months.
Trade receivables declined to Rs 3,284 crore at the end of Q3 FY26 from Rs 4,026 crore in Q2, reflecting improved collections. The company reported a cash balance of Rs 537 crore at the end of the quarter.
Net debt reduced to Rs 3,349 crore in Q3 FY26 from Rs 3,738 crore in the preceding quarter, primarily due to lower working capital requirements, partially offset by capital expenditure. Gross debt stood at Rs 885 crore, with cash and cash equivalents of Rs 537 crore.
During the quarter, the company strengthened its order wins by securing additional packages under Bharatnet Phase-III, where it remains a key supplier of IP/MPLS routers, having won 7 of the 12 packages announced so far. It was also selected as the 5G RAN supplier for a section of the Delhi–Mumbai railway corridor under a Kavach pilot project. Further, the company received expansion orders for DWDM and GPON OLT equipment from leading private telecom operators in India, and won a DWDM backbone buildout order from a broadband ISP in Africa, along with a network transformation deal for its MPLS-TP products for a power sector customer in Southeast Asia.
The company said its long-term outlook remains positive, supported by strong structural drivers and rapid technology transitions across the telecom and networking landscape. Growing adoption of AI applications is driving a sharp increase in data traffic, while continued expansion of 4G networks and fresh 5G deployments in emerging markets are creating sustained demand. Investments in AI data centres are also translating into significant connectivity requirements.
The company is seeing increasing traction for its new products across India and international markets, with wireless solutions beginning to lead international engagements in regions such as Europe, Latin America and Africa. At the same time, adoption of its wireline products is rising among private telecom operators in India. The company is also scaling up its international wireless engagements through strategic partnerships with NEC and Rakuten, while recent strategic wins for its optical products in Europe, Africa and Asia are providing momentum for further international expansion.
Arnob Roy, COO of Tejas Networks said, “In Q3 FY26, our revenue was driven largely by sale of Wireline products to India Pvt and International customers. During the quarter we engaged in multiple field trials for our Wireless products in India and International markets; commercial negotiations are expected to close in the coming months.”
Sumit Dhingra, CFO said, “In Q3 FY26 we had a revenue of Rs 307 crore, a QoQ growth of 17%. We ended the quarter with an order book of Rs 1,329 crore. Our net debt was 3,349 crore compared to 3,738 crore in Q2 FY26 mainly due to lower working capital, partly offset by capex; gross debt of 3,885 crore and cash of 537 crore.”
Tejas Networks designs and manufactures wireline and wireless networking products, with a focus on technology, innovation, and R&D. TNL carrier-class products are used by telecom service providers, utilities, governments, and defense networks in 75+ countries. Tejas Networks is a part of the Tata Group, with Panatone Finvest (a subsidiary of Tata Sons) being the majority shareholder.
Shares of Tejas Networks tanked 5.68% to close at Rs 416.70 on the BSE on 9 January 2026.