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© Tejas Networks Limited 2025. All rights reserved. Q1FY26 – Earnings Call Presentation July 14, 2025
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© Tejas Networks Limited 2025. All rights reserved. Safe Harbor Statement Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements due to risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to successfully implement our strategy and our growth and expansion plans, technological changes, our exposure to market risks, general economic and political conditions in India which have an impact on our business activities or investments, changes in the laws and regulations that apply to the industry in which the Company operates. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company.
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© Tejas Networks Limited 2025. All rights reserved. Key Updates: Q1-FY26 Financials ▪ Q1FY 26 Net Revenue: INR 202 Cr (1,907 cr in Q4FY25) ▪ Q1FY 26 Profit After Tax: INR -194 Cr (-72 Cr in Q4FY25) ▪ Order book at end of Q1: INR 1,241 Cr + 1,526 Cr order for deployment of ~18.7k sites at BSNL expected to be received (1,019 Cr in Q4FY25) Q1 Revenue Mix (1) • India: 81% • International: 19% (1) Excludes other operating revenue Q1 Summary • Delayed receipt of PO and shipment of 18k sites of BSNL 4G network • Delayed inventory arrival and shipment clearances for a few customers • Quarter revenue led by key shipments to India Pvt and International customers Closing Order Book Mix • India: 92% • International: 8%
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© Tejas Networks Limited 2025. All rights reserved. Key Highlights: Q1-FY26 Wireless Business ▪ TCS received APO for additional 18,685 sites for BSNL’s 4G expansion; expected value of the upcoming PO for Tejas is ~Rs 1,526 crore ▪ Initial order for a private 5G deployment under BSNL’s CNPN (Captive Non-Public Network) initiative ▪ Strategic partnership with Rakuten Symphony to develop integrated 5G Open RAN solutions and drive global expansion ▪ Tejas entered into partnership with Intel for integrating our SL-3000 D2M chipsets in their laptops; Lava and HMD India announced plans to launch D2M-enabled mobile phones using Tejas’s SL-3000 chipsets ▪ Ongoing POCs and engagements with multiple domestic and international operators for 4G and 5G radios Wireline Business ▪ Won Bharatnet Phase-III order from an SI partner for supply of IP routers in 2 circles ▪ Supplied GPON equipment for BharatNet Last Mile Connectivity (LMC) project in Gujarat ▪ Received run-rate orders for DWDM equipment from Tier-1 Indian telcos for their 4G/5G backhaul capacity augmentation ▪ Won tenders in critical infrastructure sector; supply of wireline equipment to railways, oil and gas, and defence ▪ Won network expansion business from leading international customers in Africa and Europe ▪ Hon’ble Union Minister of Communications, Shri Jyotiraditya Scindia, launched our 1.2Tbps per wavelength Coherent DWDM solution at the 2025 Bharat Telecom event in New Delhi
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© Tejas Networks Limited 2025. All rights reserved. Key Updates: Q1-FY26 Other Updates ▪ Parag Naik, Executive Vice President, conferred the prestigious Pandit Deendayal Upadhyaya Telecom Excellence Award by Ministry of Communications, Government of India ▪ Tejas Networks was recognized as the "Supply Chain Leader of the Year – Technology and Electronics" at the 2025 SCM Middle East Conclave & Awards, Dubai ▪ Received Rs 122.96 crore as PLI incentives for Q3FY25
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© Tejas Networks Limited 2025. All rights reserved. Q1-FY26: Financial Update 1EBIT = PBT – Other Income + Finance Cost including Net forex loss INR Cr FY25 FY26 Comments Q1 Q2 Q3 Q4 Full Year Q1 Revenue from Sales & Service 1,496 2,655 2,497 1,806 8,455 202 ▪ Revenue lower due to delay in receipt of PO, and inventory arrival and shipment clearances for a few customers Other Operating Revenue 67 156 145 101 468 - Revenue from Operations 1,563 2,811 2,642 1,907 8,923 202 EBIT(1) 167 459 260 18 905 (232) ▪ Lower revenue resulting in lower EBIT due to fixed costs partly offset by higher material margin (19% vs 42%) and lower variable costs PBT 122 411 211 (45) 698 (297) ▪ Finance costs ~75 Cr PAT 77 275 166 (72) 447 (194)
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© Tejas Networks Limited 2025. All rights reserved. Q1-FY26: Select Financial Indicators ▪ Inventory of INR 2,537 Cr during Q1FY26 (vs 2,367 Cr in Q4FY25) – Will be converted to finished goods and shipped in upcoming months ▪ Trade Receivables at INR 4,453 Cr – Collected ~INR 650 Cr during the quarter ▪ Working capital increased in Q1 by INR 432 Cr ▪ Cash Position at end of Q1 was INR 545 Cr ▪ Borrowings of INR 3,990 Cr at end of Q1 for working capital purposes and for capex investments (1) Net working capital taken as Current Assets (excluding Cash & Cash Equivalents) net of Current Liabilities (excluding Borrowings and lease liabilities) (2) Cash and cash equivalents includes investment in liquid mutual funds, deposits, other Bank balances Amount in INR Cr Q4FY25 Q1FY26 Inventory 2,367 2,537 Trade receivables 4,884 4,453 Payables 1,184 580 Net Working Capital(1) 4,524 4,956 Cash and Cash Equivalents(2) 827 545 Borrowings 3,269 3,990
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© Tejas Networks Limited 2025. All rights reserved. Industry Trends - Continued Investments in Fixed and Mobile Networking Technologies Worldwide Long runway of 4G and 5G deployment globally Cloud and enterprise digital transformation AI Data Center connectivity Digitalization of cities and economies Massive investments in broadband connectivity for bridging digital divide Modernization of utility networks demands transition from TDM to IP Networks Multi-Terabit Packet & Optical 4G/5G RAN and xHaul GPON XGS-PON
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© Tejas Networks Limited 2025. All rights reserved. FY26 Business Drivers ▪ Product portfolio got expanded significantly in FY25 and increased our addressable market ▪ Support for 5G over multiple bands ▪ Enhancement of portfolio with advanced 5G maMIMO radios ▪ Acquisition of a field proven 4G/5G Core ▪ Expansion of IP/MPLS router family ▪ Enhancement of Optical portfolio with 800G/1.2T DWDM systems ▪ Enhancement of FTTx portfolio with XGSPON products ▪ Markets for our product segments projected to grow globally ▪ Domestic opportunity pipeline includes large projects in both private and govt sector ▪ Several new customers and new application wins in both private and govt sectors, which are set to expand in FY26 ▪ Partnerships with NEC and Rakuten expected to give us access to global customers and joint go-to-market opportunities ▪ Expanded global sales footprint and strategic initial wins will give us a strong momentum for increasing our international business
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