Rs 7,091 crore order book: Vijay Kedia’s portfolio multibagger telecom stock reports a turnaround net profit & DIIs increase in Q1FY25
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 652.05 per share and a whopping 580 per cent in just 3 years.
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.
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 net profit of Rs 77.48 crore in Q1FY25 while it reported a 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 company has a market capitalization of over Rs 22,000 crore. Vijay Kedia, an ace investor, owns Kedia Securities Private Limited, which has a 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).
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Earlier, the company announced that it has been conferred the prestigious Pandit Deendayal Upadhyaya Telecom Excellence Award-2023 in the ‘Telecom Equipment Research and Manufacturing’ category. Instituted by the Department of Telecommunications, Government of India, the awards recognize exemplary and outstanding contributions in the areas of telecom innovations, skilling, services, manufacturing and applications.
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 652.05 per share and a whopping 580 per cent in just 3 years. Investors should keep an eye on this telecom stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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