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© Tejas Networks Limited 2026. All rights reserved. Q2FY27 – Earnings Call Presentation October 16, 2026
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© Tejas Networks Limited 2026. All rights reserved. Key Updates: Q2-FY27 Financials ▪ Q2FY27 Revenue: INR 406 Cr (262 Cr in Q2FY26) ▪ Q2FY27 Profit After Tax: INR -207 Cr (-307 Cr in Q2FY26) ▪ Order book at end of Q2: INR 2,315 Cr (1,529 Cr in Q1FY27) Q2 Revenue Mix (1) • India: 88% • International: 12% Closing Order Book Mix • India: 96% • International: 4% Q2 Summary • Received the LOI for 18k+ 4G sites for BSNL 4G network expansion • Q2 revenues were driven by shipments of Optical, IP and FTTx products to Pvt operators and system integrators, initial shipments for BSNL 4G add-on and initial shipments of our end-to-end 5G solution to international customer in South America • Filed 26 patents in Q2 FY27 taking our cumulative global patent filing count to 748 (1) Excludes other operating revenue
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© Tejas Networks Limited 2026. All rights reserved. Q2-FY27: Financial Update INR Cr Q2 FY27 Q2 FY26 H1 FY27 H1 FY26 Q1 FY27 Revenue from Sales & Service 406 257 808 459 402 Other Operating Revenue - 5 0 5 0 Revenue from Operations 406 262 808 464 402 EBITDA(2) (108) (293) (207) (429) (99) EBIT(1) (199) (394) (393) (626) (194) PBT (277) (473) (548) (770) (271) PAT (207) (307) (409) (501) (202) ▪ Revenue is 406 Cr in Q2FY27 vs 262 Cr in Q2FY26 ▪ EBITDA is at (108) Cr in Q2FY27 against (293) Cr in Q2FY26 ▪ PAT of (207) Cr vs (307) Cr in Q2FY26 1EBIT = PBT – Other Income + Finance Cost including Net forex loss 2EBITDA = EBIT + Depreciation & Amortisation 1 2 3 1 2 3
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© Tejas Networks Limited 2026. All rights reserved. Q2-FY27: Key Balance Sheet Items INR Cr Q4FY26 Q1 FY27 Q2 FY27 Net Working Capital(1) 4,138 4,478 4,235 Trade receivables (Net of Cust Advance) 1,905 2,232 2,042 Inventory 2,438 2,358 2,314 Cash and Cash Equivalents(2) 505 589 451 Net Debt 3,531 4,277 4,384 ▪ Net Working Capital is lower at 4,235 Cr vs 4,478 Cr in Q1FY27 due to decreased Trade Receivables on account of collections, non-recourse discounting and Customer advance settlements. ▪ Inventory of INR 2,314 Cr during Q2FY27 (vs 2,358 Cr in Q1FY27) – Significant portion of inventory would be utilized in executing BSNL 4G Add-on order. Deliveries of which have started in Q2FY27. ▪ Net Debt increased to 4,384 Cr vs 4,277 Cr in Q1FY27 on account of increased operational and capex funding. 1Net working capital taken as Current Assets (excluding Cash & Cash Equivalents) net of Current Liabilities (excluding Borrowings and lease liabilities) 2Cash and cash equivalents includes investment in liquid mutual funds, deposits, other Bank balances 1 2 3 1 2 3
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© Tejas Networks Limited 2026. All rights reserved. Business Updates: Q2-FY27 WirelineWireless • Received LoI from TCS for 18,685 add-on sites. Started initial shipments BSNL 4G Expansion • Shipped Tejas RAN equipment for the first phase of the network rollout; deployed 5G Core End-to-End 5G Mobile Network in South America • Initiated multiple POC engagements in North America and Asia- pacific regions Wireless POCs in new Geographies • Engaged in discussions with Tier-1 MNOs for custom 5G Radio development Custom Radio Development • Received LOI from an SI partner to supply IP Routers for upgrading the BharatNet middle-mile network in three states Expanded BharatNet Phase 3 marketshare • Declared L1 in a Government of India tender to deploy high- capacity OTN/WDM equipment for a strategic pan-India network Strategic OTN Network • Received POs to supply GPON OLT equipment for high-speed broadband access networks from leading ISPs in India FTTx networks in India • Selected as a DWDM vendor by a tier-1 pan-African telecom operator in Africa 400G DWDM win in Africa
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© Tejas Networks Limited 2026. All rights reserved. Other Corporate Updates • Launched our new logo with the Tata endorsement mark at India Mobile Congress, New Delhi • Reinforcing our Tata Group association, while retaining its familiar visual character, and giving it a more refined and contemporary finish Logo Update • Won the TEPC Export Excellence award in the Large Enterprises – Telecom OEM category Awards & Recognition • Filed additional patents in Q2FY27, bringing the cumulative global patent count to 748 • Inauguration of our Next-generation Connectivity Lab showcasing advanced research in 5G-Advanced, 6G and AI-powered Network Intelligence • Elected to membership of TSDSI’s 7th Governing Council Patents, Standards and R&D
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© Tejas Networks Limited 2026. All rights reserved. Tejas at India Mobile Congress (IMC), 2026 Key Announcements & Demonstrations ▪ Real-world demonstration of 6G Sensing technology for drone and vehicle detection with Qualcomm ▪ End-to-end portfolio and capabilities showcase ▪ WavePlex – Unified Mobility Stack from Radio, Baseband to Packet Core ▪ Hyperscale Network Solutions for Cloud and AI Data Centers – Live demos ▪ Future-ready Optical Access, Transport and Routing portfolio for the AI era Conference & Thought Leadership ▪ Participated in 4 speaking sessions on 6G Foundations & Roadmap at B6GA Symposium; Keynote Speech by the Chairman ▪ Participated in CEO and CTO Round Tables with the Hon’ble Minister of Communications; Tejas panelists in IMC business and technology sessions
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© Tejas Networks Limited 2026. All rights reserved. Key Business Drivers - 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 - 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 100G 200G 400G 600G 800G 1.2T/1.6T Bandwidth equivalent (Pbps) Source: Omdia © 2026 Omdia WDM line speeds – Metro, long-haul, & multi-host coherent Coherent lines (units) Bandwidth equivalent (Pbps) Total mobile connections by technology, Global (millions) Coherent WDM lines shipped by speed, Global (units) • Expansion of 5G deployment in emerging markets – 5G rollouts to continue till 2030 • Global 5G FWA subscriptions to triple and reach ~90 million by 2030 • Expansion of existing 4G network domestically • AI accelerating 6G commercialization; need for higher-capacity massive MIMO Radio, AI-native Baseband and Core Wireless • AI Data Centers driving generational upgrades of Access, Aggregation, Metro and Backbone optical networks • High bandwidth Enterprise connectivity • Increase in Residential Broadband connectivity • Backhaul connectivity for wireless network expansion • Modernization of Utility networks Wireline
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© Tejas Networks Limited 2026. All rights reserved. Key Focus Areas - Products Expansion of 5G Radio portfolio across larger number of bands Compact Base Band Unit supporting 5 frequency bands in one site 5G Radio Access Network Portfolio • AI-RAN - AI based algorithms for channel estimation, power management and mobility • Integrated sensing and communication • Reconfigurable Intelligent Surfaces Investments in 5G-Advanced, 6G • Expansion of IP/MPLS routing portfolio • High-capacity, low latency access - 200G and beyond • High-capacity Packet aggregation, Optical backbone Enhance Wireline portfolio to address the AI future • Network optimization, fault prediction, network resilience and capacity planning AI-based network management solutions
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© Tejas Networks Limited 2026. All rights reserved. Key Focus Areas – Business and Operations • Leverage existing and new partnerships to scale up international business • Expand market share in Pvt Telcos, win 4G/5G expansion • Strategic focus on addressing Data Centre Interconnect applications Business • Deliver on BSNL 4G expansion order within timelines • Achieve significant inventory reduction based on execution of BSNL 4G expansion order • Increased focus on collections • Achieve quarterly positive EBITDA financial performance Finance and Operations
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© Tejas Networks Limited 2026. All rights reserved. Key Takeaways Strong Growth in Order book • Increasing International engagements • BSNL expansion order is an endorsement of our product scalability and performance Wireless business is maturing • Driven by growth in Data Center Connectivity, Residential and Enterprise Broadband Steady growth in Wireline business • Investments in 5G Advanced and 6G • Portfolio of products for building end-to-end high-bandwidth, low-latency networks required for AI infrastructure and user access Well positioned for an AI-driven future Execution of BSNL expansion order will bring down inventory and gross debt Steadily improving financial performance - Visible path to profitability
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