Rs 7,091 crore order book: Union Minister Shri Jyotiraditya Scindia inaugurates wireless center of excellence and launches its Indigenous Massive MIMO Radio
The stock is up by 89 per cent from its 52-week low of Rs 652.05 per share and gave multibagger returns of 1,380 per cent in just 5 years.
Tejas Networks Ltd [BSE: 540595, NSE: TEJASNET] today announced that Shri Jyotiraditya M. Scindia, Hon’ble Union Minister of Communications and Development of North Eastern Region inaugurated Tejas Center of Excellence for Wireless Communications at their Bangalore Headquarters. As a part of the visit, the Hon’ble Union Minister also launched the company’s indigenously designed 32T32R Massive MIMO radio capable of delivering 1+ Gbps download speeds using 5G mid-band spectrum.
Congratulating Tejas Networks on this occasion, Hon’ble Union Minister Shri Jyotiraditya Scindia said, “Tejas Networks has demonstrated that Indian companies can design and manufacture high-quality, cutting-edge products and successfully compete against the best global players in the telecom sector. I was truly impressed to see the wide range of world-class wireless and wireline products that Tejas has developed in India that form an integral part of all major networks in India and several countries around the world.”
The “Tejas Center of Excellence for Wireless Communications” at Tejas Networks seeks to advance research in frontier technologies, standards and architectures that will underpin next-generation mobile networks as they evolve towards 6G and beyond. The Center of Excellence houses state-of-the-art modelling tools and test infrastructure to design, prototype and commercialize innovative wireless products and solutions that will support emerging usage scenarios and applications as envisaged in ITU-R’s IMT-2030 (International Mobile Telecommunications) framework. The center currently focuses on contributions in emerging areas such as AI/ML, Integrated Sensing and Communications (ISAC), Massive MIMO, Terahertz Communications, Reconfigurable Intelligent Surfaces (RIS), Sub-band Full Duplex (SBFD) among others.
Anand Athreya, CEO & Managing Director of Tejas Networks said, “We invest significant resources in R&D and IPR creation and our new Center of Excellence showcases our advanced technological capabilities in wireless communications. We are firmly committed to building a top-tier global telecom and networking company from India and will play our part in helping realize the Government of India’s vision of an “Atmanirbhar Bharat” in the telecom sector.”
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About the Company
Tejas Networks Ltd is a global R&D-driven telecom equipment company headquartered in India. It designs, develops and manufactures high-performance optical and data networking products that are used by telecom service providers, utilities, government and defence networks.
The company has a market capitalization of over Rs 20,000 crore. Vijay Kedia, an ace investor, owns Kedia Securities Private Limited, which has a 32,00,000 shares or 1.87 per cent stake in Tejas Networks Ltd as of June 2024. Additionally, as of July 2024, the promoters own a 55.50 per cent stake, FIIs own a 10.20 per cent stake and DIIs own a 4.91 per cent stake (In June 2024, DIIs increased their stake to 4.91 per cent compared to 4.76 per cent in March 2024).
Quarterly Results: The net sales increased by 731 per cent to Rs 1,562.77 crore in Q1FY25 compared to Q1FY24. The company reported a turnaround operating profit of Rs 243.06 crore and a net profit of Rs 77.48 crore in Q1FY25 while it reported an operating loss of Rs 26.79 crore and a net loss of Rs 26.29 crore in Q1FY24: increasing by 1,000 per cent and 395 per cent, respectively.
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: The company’s order book as of June 30, 2024, stands at Rs 7,091 crore.
The stock is up by 89 per cent from its 52-week low of Rs 652.05 per share and gave multibagger returns of 1,380 per cent in just 5 years. Investors should keep an eye on this telecom stock.
Disclaimer: The article is for informational purposes only and not investment advice.