| ₹ crore | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
| Revenue | 406 | 262 | +54.9% |
| EBITDA | −107 | −294 | — |
| EBITDA margin | −26.3% | −112.2% | +85.9 pts |
| Profit before tax | −277 | −473 | — |
| Net profit | −207 | −307 | — |
| EPS | −₹11.62 | −₹17.38 | — |
Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.
| Tap a line for its trend | Currentlast 12M | FY26Mar 2026 | FY25Mar 2025 | FY24Mar 2024 | FY23Mar 2023 | FY22 and earlierAlpha Plus |
|---|
| 7,464 | — | — | — | — | FY22 and earlierEvery year the company has filed comes with Alpha Plus. | |
| 414 | 468 | 814 | 526 | 348 | ||
| 0.0 | 0.0 | 0.0 | 30.6 | — | ||
| 4,035 | 4,035 | 3,269 | 1,744 | 0.0 | ||
| 11,086 | — | — | — | — | ||
| 1,447 | 1,103 | 8,923 | 2,471 | 920 | ||
| — | −87.6% | +261.1% | +168.7% | — | ||
| −459 | −682 | 1,258 | 266 | 14.0 | ||
| −31.7% | −61.8% | 14.1% | 10.8% | 1.5% | ||
| −851 | −1,085 | 905 | 83.5 | −108 | ||
| −817 | −909 | 447 | 63.0 | −36.4 | ||
| −56.5% | −82.4% | 5.0% | 2.6% | −4.0% | ||
| −₹45.14 | −₹50.21 | ₹24.67 | ₹3.48 | −₹2.01 | ||
| — | −303.5% | +609.0% | +273.0% | — | ||
| — | 135 | −491 | −2,036 | −380 | ||
| — | −884 | −541 | −408 | −249 | ||
| −749 | −749 | −1,033 | −2,445 | −629 | ||
From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.
In ₹ Crore except Per Share 12 Months Ending | FY23 31/03/2023 | FY24 31/03/2024 | FY25 31/03/2025 | FY26 31/03/2026 | Current/LTM TTM · last close | |
|---|---|---|---|---|---|---|
| Market Capitalization | — | — | — | — | 7,463.9 | |
| - Cash, Equiv & ST Investments | 347.6 | 526.3 | 814.2 | 467.6 | 413.8 | |
| + Minority Interest | — | 30.6 | 0.0 | 0.0 | 0.0 | |
| + Total Debt | 0.0 | 1,744.1 | 3,269.1 | 4,035.5 | 4,035.5 | |
| Enterprise Value | — | — | — | — | 11,085.7 | |
| Revenue | 919.6 | 2,470.9 | 8,923.2 | 1,103.3 | 1,447.3 | |
| Growth %, YoY | — | +168.7 | +261.1 | -87.6 | — | |
| EBITDA | 14.0 | 265.9 | 1,257.8 | -681.8 | -459.5 | |
| Margin % | 1.53 | 10.76 | 14.10 | -61.80 | -31.75 | |
| EBIT | -108.5 | 83.5 | 904.6 | -1,084.6 | -850.6 | |
| Net Income | -36.4 | 63.0 | 446.5 | -908.9 | -817.1 | |
| Margin % | -3.96 | 2.55 | 5.00 | -82.38 | -56.45 | |
| EPS, Adj (current shares) | -2.01 | 3.48 | 24.67 | -50.21 | -45.14 | |
| Growth %, YoY | — | +273.0 | +609.0 | -303.5 | — | |
| Cash from Operations | -380.3 | -2,036.5 | -491.5 | 135.2 | — | |
| Capital Expenditures | -249.0 | -408.4 | -541.5 | -883.9 | — | |
| Free Cash Flow | -629.3 | -2,444.9 | -1,033.0 | -748.7 | -748.7 | |
Prices at the previous close · figures from the company's filings with NSE
Tejas Networks (NSE: TEJASNET) had a market capitalisation of ₹7,480 crore at the previous close (₹412.35 a share) and a price-to-book ratio of 2.96. In FY26 its consolidated net loss was ₹909 crore on revenue of ₹1,103 crore; in Q2 FY27 (July–September 2026) it was a loss of ₹207 crore. Its debt-to-equity ratio was 1.91 on 30 September 2026. Promoters held 53.28% of the shares on 30 September 2026.
Tejas Networks' PE ratio is not meaningful at the previous close: its consolidated net profit over the last four quarters (Q3 FY26 to Q2 FY27) was a loss of ₹817 crore, and a price-to-earnings ratio needs positive earnings. Its market capitalisation was ₹7,480 crore at ₹412.35 a share.
Tejas Networks' price-to-book (PB) ratio is 2.96 at the previous close: a market capitalisation of ₹7,480 crore divided by shareholders' equity (book value) of ₹2,528 crore on 30 September 2026. That is a book value of ₹139.33 per share against a share price of ₹412.35.
Tejas Networks' book value per share was ₹139.33 on 30 September 2026: shareholders' equity of ₹2,528 crore divided by the 18.14 crore shares in issue, down 24.4% from ₹184.37 a year earlier. The share price at the previous close was ₹412.35.
Tejas Networks' market capitalisation was ₹7,480 crore at the previous close: 18.14 crore shares at ₹412.35 each.
No. Tejas Networks had borrowings of ₹4,835 crore on 30 September 2026 (consolidated balance sheet), a debt-to-equity ratio of 1.91. Its cash and current investments were ₹451 crore, so its net debt was ₹4,384 crore.
Tejas Networks' basic earnings per share (EPS) were −₹51.35 in FY26. Over the last four quarters (Q3 FY26 to Q2 FY27) they add up to −₹45.98.
Tejas Networks' debt-to-equity ratio was 1.91 on 30 September 2026: borrowings of ₹4,835 crore against total equity of ₹2,528 crore. A year earlier, on 30 September 2025, it was 1.25.
Tejas Networks' net worth — shareholders' equity in its consolidated balance sheet — was ₹2,528 crore on 30 September 2026, down 23.9% from ₹3,321 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹7,480 crore at the previous close.
Promoters held 53.28% of Tejas Networks on 30 September 2026, down 0.05 percentage points from 53.33% the previous quarter and down 0.38 percentage points from 53.66% a year earlier, according to the shareholding pattern filed with NSE.
In FY26, Tejas Networks' return on equity (ROE) was −26.8% and its return on capital employed (ROCE) was −27.5%. ROE is net profit divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was 12.8% and ROCE 23.5%.
On 30 September 2026, Tejas Networks' shares were held by promoters 53.28%, foreign portfolio investors (FII/FPI) 6.63%, domestic institutions (DII) 4.00% (including mutual funds at 3.11%) and retail and other non-institutional investors 35.99%. Over the year, FII holding was up 0.39 percentage points from 6.24% and DII holding was down 0.79 percentage points from 4.79%.
Tejas Networks' latest results are for Q2 FY27 (July–September 2026), filed on 16 October 2026: consolidated net loss ₹207 crore, narrower than the loss of ₹307 crore in Q2 FY26; revenue from operations ₹406 crore, up 54.9% year on year.
In FY26, Tejas Networks generated ₹135 crore of cash from operations and spent ₹884 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of −₹749 crore. In FY25 it was −₹1,033 crore.
In FY26 (April 2025–March 2026), Tejas Networks' consolidated net loss was ₹909 crore, against a profit of ₹447 crore in FY25, on revenue from operations of ₹1,103 crore (down 87.6%).
Tejas Networks has reported Q2 FY27. Its next results, for Q3 FY27 (October–December 2026), are due by 14 February 2027 under SEBI's 45-day rule; the company notifies the board-meeting date at least two working days before.
On FY26 consolidated figures, against HFCL, ITI and Tata Teleservices (Maharashtra): Tejas Networks' operating margin of −98.3% is the lowest of the four (HFCL 12.2%, ITI −0.6%, Tata Teleservices (Maharashtra) 41.7%; peer average 17.8%); its revenue growth over three years of 6.3% a year is the second highest of the four (HFCL 1.4% a year, ITI 16.1% a year, Tata Teleservices (Maharashtra) 1.6% a year; peer average 6.4% a year).
In FY26, Tejas Networks earned net profit of ₹909 crore on revenue of ₹1,103 crore, against ₹312 crore on ₹4,949 crore for HFCL. Tejas Networks' operating margin was −98.3% (HFCL 12.2%) and its return on equity −26.8% (HFCL 6.9%).
From Tejas Networks' own consolidated results, balance sheets and shareholding patterns filed with NSE. Ratios are calculated by Alphave from those filings as each answer describes.
Consolidated figures from the company's filings with NSE; prices are NSE closing prices.