Rs 8,221 crore order book: Vijay Kedia’s portfolio multibagger telecom company wins Pandit Deendayal Upadhyaya Telecom Excellence Award from Government of India
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 652.05 per share and a whopping 655 per cent in just 3 years.
Tejas Networks Ltd [BSE: 540595, NSE: TEJASNET] today 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 award was presented by Shri Jyotiraditya Scindia, Hon’ble Minister of Communications and Development of North Eastern Region, Government of India at a function organized at The Oberoi, New Delhi yesterday evening. The ceremony was also graced by Dr Neeraj Mittal, IAS, Chairman DCC & Secretary (T), Department of Telecommunications.
Speaking on the occasion, Dr Kumar N. Sivarajan, CTO & Co-founder of Tejas Networks said, “We are delighted to win the prestigious Pandit Deendayal Upadhyaya Telecom Excellence Award for advancing telecom innovations and equipment manufacturing. As a leading R&D driven telecom and networking company, the award underscores our strong commitment and consistent focus on technology excellence and design-led manufacturing. Over the years, this has enabled us to create a world-class product portfolio spanning wireless, broadband, optical and packet networking technologies, all of which are conceived, designed and manufactured in India. Government of India’s forward-looking policies to promote Atmanirbhar in the telecom sector are helping us to further enhance our R&D and manufacturing capabilities to achieve global scale.”
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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.
Quarterly Results: The net sales increased by 343.3 per cent to Rs 1,326.88 crore in Q4FY24 compared to Q4FY23. The company reported a turnaround net profit of 146.78 crore in Q4FY24 while it reported a net loss of Rs 11.47 crore in Q4FY23: increasing by 1,379.7 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: The company’s order book as of March 31, 2024, stands at Rs 8,221 crore.
The company has a market capitalization of over Rs 24,000 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.
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 652.05 per share and a whopping 655 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.