Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that the company has received Rs 27.78 crore as incentives for the fiscal year 2022-’23 under the PLI (Production-Linked Incentive) Scheme for Telecom and Networking Products. The said amount accounts for 85% of the total claim for FY23 and the balance 15% is expected to be released subsequently in accordance with the PLI Scheme Guidelines.
Mr. Anand Athreya, CEO and Managing Director of Tejas Networks said, “We thank the Empowered Committee for PLI Scheme, Department of Telecommunications (DoT) and SIDBI for approving our incentive application for FY23. Government of India’s design-linked PLI is an excellent scheme that has given a massive boost to indigenous telecom R&D and manufacturing by kickstarting a virtuous cycle of domestic innovation in this sector. As the country’s leading home-grown telecom and networking products company, we continue to make the committed R&D and other capital investments to scale-up our business globally and accelerate our vision to be a top-tier telecom OEM in the next few years.
The company is eligible to receive design-linked PLI incentives for five years, starting with fiscal year 2022-’23, on meeting the minimum cumulative investment of Rs 750 crore committed during the scheme period. As per the scheme guidelines, the quantum of incentives in each year will be a proportion of the company’s incremental net sales of the approved products under the scheme generated in that year over the net eligible sales done in the baseline year (2019-’20).
Mr. Anand Athreya, CEO and Managing Director of Tejas Networks said, “We thank the Empowered Committee for PLI Scheme, Department of Telecommunications (DoT) and SIDBI for approving our incentive application for FY23. Government of India’s design-linked PLI is an excellent scheme that has given a massive boost to indigenous telecom R&D and manufacturing by kickstarting a virtuous cycle of domestic innovation in this sector. As the country’s leading home-grown telecom and networking products company, we continue to make the committed R&D and other capital investments to scale-up our business globally and accelerate our vision to be a top-tier telecom OEM in the next few years.
The company is eligible to receive design-linked PLI incentives for five years, starting with fiscal year 2022-’23, on meeting the minimum cumulative investment of Rs 750 crore committed during the scheme period. As per the scheme guidelines, the quantum of incentives in each year will be a proportion of the company’s incremental net sales of the approved products under the scheme generated in that year over the net eligible sales done in the baseline year (2019-’20).
Saankhya Labs, a subsidiary of Tejas Networks (BSE: 540595) (NSE: TEJASNET), today announced that the Ministry of Electronics and Information Technology, Government of India (MeitY) has approved its application under the Government of India’s Semiconductor Design Linked Incentive (DLI) scheme for the development of a System-on-Chip (SoC) for 5G telecom infrastructure equipment. The Design Linked Incentive (DLI) Scheme offers financial incentives as well as design infrastructure support across various stages of development and deployment of semiconductor design for Integrated Circuits (ICs), Chipsets, System on Chips (SoCs), Systems & IP Cores. Saankhya’s application for development of SoC was evaluated by CDAC (Centre for Development of Advanced Computing) on behalf of MeitY and granted approval for reimbursement on completion of development milestones.
Mr. Parag Naik, CEO & Managing Director of Saankhya Labs, said, “We thank the Ministry of Electronics and Information Technology, Government of India and CDAC, the DLI implementing agency, for approving our application under the Semiconductor Design Linked Incentive scheme for the Development of a System-on-Chip for 5G Telecom infrastructure equipment. DLI is an excellent policy initiative by the Government of India that helps Indian R&D companies to build valuable Intellectual Property and develop world-class semiconductor products for domestic and international markets. As India’s leading R&D-driven semiconductor and telecom products company, we continue to invest in path-breaking technologies and indigenization of key components to realize the vision of an Atmanirbhar Bharat in the semiconductor and telecom sector.”
About Saankhya Labs
Saankhya Labs, a subsidiary of Tejas Networks, is an innovative leading-edge technology company with a breadth of wireless communication system solutions. Saankhya offers a wide range of communication products for 5G NR, Broadcast, and Satellite Communication applications. With over 100 international technology patents and unique ‘chipset-to-systems’ expertise, Saankhya’s solutions include award-winning SDR chipsets for communication, next-gen OpenRAN Solutions for 5G networks, multi-standard direct to mobile (D2M) broadcast, and Satcom solutions.
Tejas Networks [BSE: 540595, NSE: TEJASNET] today reported its financial results for the third quarter ended December 31, 2023. Tejas Networks designs, develops, manufactures and sells high-performance telecom and networking products, which are used to build high-speed communication networks.
Mr. Anand Athreya, Managing Director and CEO of Tejas Networks said, “In Q3-FY24 we had a strong revenue growth . We ramped up shipments for BSNL’s 4G network – both RAN equipment and IP/MPLS routers for the backhaul network. We have also deployed several strategic networks for Telcos and Utilities in India and global markets. A notable highlight has been our subsidiary, Saankhya Lab’s strategic win for deployment of its two-way Satcom Xponders for communication and support system on marine fishing vessels
Mr. Sumit Dhingra, CFO said, “Our consolidated Revenue for Q3-FY24 was Rs. 560 crore – which is more than double the revenue of Q3-FY23. We continue to make investments to ramp up our R&D team and operations which are essential to deliver the growth potential of the company. Our net loss for the quarter was Rs. 45 crore. We have a strong order book of Rs. 9,028 crore. As on December 31, 2023, our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, were at Rs. 559 crore.”
As on December 31, 2023, Tejas and its subsidiaries have filed for 445 patents of which 313 have been granted.
| Amount in Rs. cr | ||||
|---|---|---|---|---|
| Q3-FY24 | Q3-FY23 | 9M-FY24 | 9M-FY23 | |
| Net Revenue | 560.0 | 274.6 | 1,143.8 | 620.3 |
| PBT | (48.8) | (9.4) | (132.4) | (15.6) |
| PAT | (44.9) | (15.2) | (83.8) | (25.0) |
Mr. Anand Athreya, Managing Director and CEO of Tejas Networks said, “In Q3-FY24 we had a strong revenue growth . We ramped up shipments for BSNL’s 4G network – both RAN equipment and IP/MPLS routers for the backhaul network. We have also deployed several strategic networks for Telcos and Utilities in India and global markets. A notable highlight has been our subsidiary, Saankhya Lab’s strategic win for deployment of its two-way Satcom Xponders for communication and support system on marine fishing vessels
Mr. Sumit Dhingra, CFO said, “Our consolidated Revenue for Q3-FY24 was Rs. 560 crore – which is more than double the revenue of Q3-FY23. We continue to make investments to ramp up our R&D team and operations which are essential to deliver the growth potential of the company. Our net loss for the quarter was Rs. 45 crore. We have a strong order book of Rs. 9,028 crore. As on December 31, 2023, our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, were at Rs. 559 crore.”
As on December 31, 2023, Tejas and its subsidiaries have filed for 445 patents of which 313 have been granted.
Saankhya Labs, a subsidiary of Tejas Networks (BSE: 540595) (NSE: TEJASNET), today announced that it has received a Provisional Purchase order worth Rs. 96.42 Crores (excluding GST) from NSIL (NewSpace India Limited, a wholly owned Government of India undertaking/Central Public Sector Enterprise (CPSE), under the administrative control of the Department of Space). The order is for the supply, installation and commissioning of Two-Way MSS Terminals (Xponders) for vessel communication and support system in Marine Fishing Vessels for Monitoring, Control and Surveillance (MCS) along the coastal states of India.
As part of this contract, Saankhya Labs, in co-ordination with NSIL, ISRO and the Department of Fisheries, shall deploy its indigenously designed and developed satellite terminals (Xponders) on motorized and mechanized fishing vessels. Once commissioned, the network shall provide vessel communication and support system, enhancing safety and security for fishermen and would mitigate sea-borne threat concerns from a national security perspective. The Xponders also enable navigational assistance, automatic boundary crossing alarm and emergency weather alerts to fishermen.
“We are delighted to win this prestigious contract from NSIL. Having operationalized a similar project for mechanized vessels in Tamil Nadu in partnership with ISRO, earlier, we are fully geared up to support Government of India’s efforts to deploy this network across the coastal states of India,” said Mr. Parag Naik, CEO and Co-founder of Saankhya Labs. “It is a matter of pride for us as our award-winning, truly Made in India Satcom Xponders powered by Saankhya’s SDR chipsets are getting deployed in one of the largest Satellite-IoT deployments in the world.”
This project not only aims at improving fishermen’s livelihood and safety but also helps promote deployment of indigenous Satcom solutions operating on ISRO satellites in the service of the nation, a true testimony to self-reliance (Atmanirbhar Bharat) in Satcom.
About Saankhya Labs
Saankhya Labs, a subsidiary of Tejas Networks, is an innovative leading-edge technology company with a breadth of wireless communication system solutions. Saankhya offers a wide range of communication products for 5G NR, Broadcast and Satellite Communication applications. With over 100 International Technology Patents and unique ‘chipset-to-systems’ expertise, Saankhya’s solutions include the award-winning SDR chipsets for communication, next gen OpenRAN Solutions for 5G networks, multi-standard direct to mobile (D2M) broadcast and Satcom solutions.
For more information, visit Saankhya Labs at www.saankhyalabs.com
As part of this contract, Saankhya Labs, in co-ordination with NSIL, ISRO and the Department of Fisheries, shall deploy its indigenously designed and developed satellite terminals (Xponders) on motorized and mechanized fishing vessels. Once commissioned, the network shall provide vessel communication and support system, enhancing safety and security for fishermen and would mitigate sea-borne threat concerns from a national security perspective. The Xponders also enable navigational assistance, automatic boundary crossing alarm and emergency weather alerts to fishermen.
“We are delighted to win this prestigious contract from NSIL. Having operationalized a similar project for mechanized vessels in Tamil Nadu in partnership with ISRO, earlier, we are fully geared up to support Government of India’s efforts to deploy this network across the coastal states of India,” said Mr. Parag Naik, CEO and Co-founder of Saankhya Labs. “It is a matter of pride for us as our award-winning, truly Made in India Satcom Xponders powered by Saankhya’s SDR chipsets are getting deployed in one of the largest Satellite-IoT deployments in the world.”
This project not only aims at improving fishermen’s livelihood and safety but also helps promote deployment of indigenous Satcom solutions operating on ISRO satellites in the service of the nation, a true testimony to self-reliance (Atmanirbhar Bharat) in Satcom.
About Saankhya Labs
Saankhya Labs, a subsidiary of Tejas Networks, is an innovative leading-edge technology company with a breadth of wireless communication system solutions. Saankhya offers a wide range of communication products for 5G NR, Broadcast and Satellite Communication applications. With over 100 International Technology Patents and unique ‘chipset-to-systems’ expertise, Saankhya’s solutions include the award-winning SDR chipsets for communication, next gen OpenRAN Solutions for 5G networks, multi-standard direct to mobile (D2M) broadcast and Satcom solutions.
For more information, visit Saankhya Labs at www.saankhyalabs.com
Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that it won two prestigious awards for its optical and broadband innovations at national and international events last week. The company was recognized for its “Leading PON-based Smart City” solutions at the Network X event held in Paris and its flagship TJ1600 optical and packet transmission product was selected as the “Best Indian IPR of the Year in Telecom” at the India Mobile Congress (IMC), New Delhi. Tejas had a prominent presence at both the events and its booth attracted many senior government dignitaries, key telco decision makers and industry luminaries both from India and abroad.
Mr. Anand Athreya, CEO & Managing Director of Tejas Networks said, “The IMC and Network X awards reaffirm our ability to deliver smart and comprehensive network infrastructure solutions that enable telcos, broadband operators and governments build high-capacity and cost-efficient fiber networks to deliver premium services and fuel local economies. The company had a highly impactful show at the two events which provided us a great opportunity to strengthen our global branding and customer relationships by showcasing our leading-edge network portfolio and extensive R&D capabilities in cellular, optical, broadcast and satellite communication technologies. We are committed to sustain and build on this momentum to realize our vision to be a global top-tier telecom and networking OEM in the coming years.
Mr. Arnob Roy, Chief Operating Officer & Executive Director of Tejas Networks said, “We are delighted at the enthusiastic response and industry accolades we received at IMC and Network X, two highly reputed global telecom sector events in Asia and Europe. The awards underscore our growing stature as a leading global supplier of innovative wireline and wireless product offerings. Further, the events served as a great platform to display several recent additions to our network portfolio in diverse areas such as advanced multi-band 4G/5G radios, multi-technology 5G xHaul using WDM, xPON and IP/MPLS, and multi-terabit optical transmission with C+L band support.”
Mr. Anand Athreya, CEO & Managing Director of Tejas Networks said, “The IMC and Network X awards reaffirm our ability to deliver smart and comprehensive network infrastructure solutions that enable telcos, broadband operators and governments build high-capacity and cost-efficient fiber networks to deliver premium services and fuel local economies. The company had a highly impactful show at the two events which provided us a great opportunity to strengthen our global branding and customer relationships by showcasing our leading-edge network portfolio and extensive R&D capabilities in cellular, optical, broadcast and satellite communication technologies. We are committed to sustain and build on this momentum to realize our vision to be a global top-tier telecom and networking OEM in the coming years.
Mr. Arnob Roy, Chief Operating Officer & Executive Director of Tejas Networks said, “We are delighted at the enthusiastic response and industry accolades we received at IMC and Network X, two highly reputed global telecom sector events in Asia and Europe. The awards underscore our growing stature as a leading global supplier of innovative wireline and wireless product offerings. Further, the events served as a great platform to display several recent additions to our network portfolio in diverse areas such as advanced multi-band 4G/5G radios, multi-technology 5G xHaul using WDM, xPON and IP/MPLS, and multi-terabit optical transmission with C+L band support.”
Tejas Networks [BSE: 540595, NSE: TEJASNET] today reported its financial results for the second quarter ended September 30, 2023. Tejas Networks designs, develops, manufactures and sells high-performance telecom and networking products, which are used to build high-speed communication networks.
Mr. Anand Athreya, Managing Director and CEO of Tejas Networks said, “In Q2-FY24 we achieved the highest ever quarterly revenue in our company. Based on strong order inflow across all product lines during the quarter, we also have our highest ever order book of Rs. 9,271 crore. As part of our long-term strategy, we continue to invest in scaling up R&D teams, addition of new facilities, and increasing manufacturing infrastructure to address the large upcoming shipments for BSNL 4G wireless equipment. The PAT loss for the quarter was on account of the increased investments and expedite fees for delayed components.”
Mr. Venkatesh Gadiyar, CFO said, “During the quarter, we have received the mobilization advance of Rs. 750 crore from TCS towards supply of RAN equipment for BSNL 4G/5G network. As on September 30, 2023, our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, were at Rs. 1,371 crore.”
As on September 30, 2023, Tejas and its subsidiaries have filed for 443 patents of which 282 have been granted.
| Amount in Rs. cr | ||||
|---|---|---|---|---|
| Q2-FY24 | Q2-FY23 | H1-FY24 | H1-FY23 | |
| Net Revenue | 396.0 | 220.0 | 583.8 | 345.7 |
| PBT | (17.7) | 6.7 | (83.6) | (6.3) |
| PAT | (12.6) | (3.2) | (38.9) | (9.8) |
Mr. Anand Athreya, Managing Director and CEO of Tejas Networks said, “In Q2-FY24 we achieved the highest ever quarterly revenue in our company. Based on strong order inflow across all product lines during the quarter, we also have our highest ever order book of Rs. 9,271 crore. As part of our long-term strategy, we continue to invest in scaling up R&D teams, addition of new facilities, and increasing manufacturing infrastructure to address the large upcoming shipments for BSNL 4G wireless equipment. The PAT loss for the quarter was on account of the increased investments and expedite fees for delayed components.”
Mr. Venkatesh Gadiyar, CFO said, “During the quarter, we have received the mobilization advance of Rs. 750 crore from TCS towards supply of RAN equipment for BSNL 4G/5G network. As on September 30, 2023, our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, were at Rs. 1,371 crore.”
As on September 30, 2023, Tejas and its subsidiaries have filed for 443 patents of which 282 have been granted.
