Rs 4,845 Crore Order Book: Tata-Group Telecom Company is Selected as Broadband Equipment Supplier for State-Led BharatNet Last Mile Connectivity Project in Tamil Nadu
The company will be supplying its industry-leading GPON OLT, ONT and Management System for the state-led BharatNet Last Mile Connectivity (LMC) project in Tamil Nadu.
Tejas Networks Ltd [BSE: 540595, NSE: TEJASNET] today announced that the company will be supplying its industry-leading GPON OLT, ONT and Management System for the state-led BharatNet Last Mile Connectivity (LMC) project in Tamil Nadu. The project is being implemented by TANFINET (Tamil Nadu FibreNet Corporation Limited), a Special Purpose Vehicle (SPV) set up by the Government of Tamil Nadu with Polycab India Limited (PIL) as the Master System Integrator.
The BharatNet LMC project seeks to extend affordable high-speed connectivity to around 50,000 Government institutions, Public Health Centres and Schools from the nearest BharatNet site at Gram Panchayat/Block/District levels. Further, the LMC infrastructure will also be leveraged to provide FTTH (Fiber to the Home) service to rural households in Tamil Nadu through partnerships with local cable operators and telecom service providers.
Mr Arnob Roy, COO and Executive Director of Tejas Networks said, “We are delighted to be selected as the primary broadband equipment supplier for this prestigious project. With our modular, feature-rich and future-proof portfolio of multi-gigabit GPON/XGS-PON products delivering enterprise-grade quality of service and resiliency features, Tejas is emerging as a technology partner of choice for both domestic and international FTTH rollouts.”
Mr Sunil Handoo, Vice President- Sales at Tejas Networks said, “TANFINET’s BharatNet LMC project will enable Tamil Nadu’s rural citizens to experience the real benefits of high-speed broadband in their daily lives and help improve their social and economic well-being. As a leading IPR and R&D-driven company in the telecom and networking sector, we have extensive experience in successfully delivering complex, high-performance networks of national importance. We look forward to working with all stakeholders to ensure a world class broadband service experience for end-users.”
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About Tejas Network Ltd
Tejas Networks Ltd. designs and manufactures high-performance wireline and wireless networking products for telecommunications service providers, internet service providers, utilities, defence and government entities in over 75 countries. Tejas Networks Ltd. is a part of the Tata Group, with Panatone Finvest Ltd. (a subsidiary of Tata Sons Pvt Ltd.) being the majority shareholder.
The company has a market capitalization of over Rs 20,000 crore backed by Tata Group. Vijay Kedia, an ace investor, owns Kedia Securities Private Limited, which has 32,00,000 shares or 1.87 per cent stake in Tejas Networks Ltd as of September 2024. Additionally, as of September 2024, the promoters own a 55.42 per cent stake, FIIs own a 9.58 per cent stake and DIIs own a 4.76 per cent stake.
Quarterly Results: The net sales increased by 610 per cent to Rs 2,811.26 crore in Q2FY25 compared to Q2FY24. The company reported a turnaround net profit of Rs 275.18 crore in Q2FY25 compared to a net loss of Rs 12.64 crore in Q2FY24: increasing 2,277 per cent.
Half-Yearly Results: The net sales increased by 649 per cent to Rs 4,374.03 crore in H1FY25 compared to H1FY24. The company reported a turnaround net profit of Rs 352.66 crore in H1FY25 compared to a net loss of Rs 38.93 crore in H1FY24: increasing 1,006 per cent.
Annual Results: The net sales increased by 168.1 per cent to Rs 2,470.92 crore in FY24 compared to FY23. The company reported a turnaround net profit of 62.98 crore in FY24 while it reported a net loss of Rs 36.41 crore in FY23: increasing by 273 per cent.
Order Book: As of September 30, 2024, the company's order book stands at Rs 4,845 crore.
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Disclaimer: The article is for informational purposes only and not investment advice.