Revenue from operations decreased by 37.2% to Rs 126.50 crore in Q4 FY22 from Rs 201.55 crore posted in Q4 FY21. On a sequential basis, net sales rose 18.16% to Rs 126.50 crore in Q4 FY22 over Q3 FY22.

The company reported a pre tax loss of Rs 95.89 crore in Q4 FY22 as against a profit before tax of Rs 18.53 crore recorded in Q4 FY21.

Finance costs declined by 70.93% to Rs 0.25 crore while depreciation & amortization expenses rose by 51.59% to Rs 21.89 crore in the fourth quarter as compared to the corresponding quarter last year.

Tejas Networks reported a consolidated net loss of Rs 62.71 crore in the year ended 31 March 2022 compared with net profit of Rs 37.54 crore in the year ended 31 March 2021. Net sales rose 4.6% to Rs 550.59 crore in FY22 from Rs 526.60 crore in FY21.

Mr. Sanjay Nayak, MD and CEO of Tejas Networks said, “We are disappointed that our Q4 revenues were below our expectations. This was due to the ongoing global chip supply shortages and despite our best efforts, we could not manufacture enough products to fulfill open orders. However, we continue to see a positive business momentum with strong Q4 order inflow of Rs 316 crore, increasing our total order book to an all-time high of Rs 1,175 crore. We have already taken advance inventory actions for securing components for our planned revenues for next 12 months and we believe that we will be able to effectively address the challenges of the ongoing semiconductor component shortages. We are also pleased that our 4G Radio Access Network (RAN) equipment, as a part of the indigenous 4G solution, has successfully passed the Proof-of-Concept field tests in the network of a large Indian telecom operator.”

Mr. Venkatesh Gadiyar, CFO of Tejas Networks, said, “During Q4, we saw margin pressure due to increase in component prices and lower international revenues. Our cash position continues to be healthy and as on March 31, 2022 our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, were Rs. 1,102 crores and we continue to be a debt-free company”.

Furthermore, the company has announced that Balakrishnan V has resigned from the post of non-executive chairman and independent director. N. Ganapathy Subramaniam has been elected as non-executive chairman of the company w.e.f. 18 May 2022. N. Ganapathy Subramaniam is a nominee director of Panatone Finvest, a subsidiary of Tata Sons.

Tejas Networks is a broadband, optical and wireless networking company, with a focus on technology, innovation and R&D. TNL carrier-class products are used by telecom service providers, utilities, government, and defence networks in 75+ countries. TNL has an extensive portfolio of telecom products for building end-to-end telecom networks. Panatone Finvest held 52.45% stake in the company as on 8 April 2022.

Shares of Tejas Networks rose 0.86% to close at Rs 505.50 on BSE yesterday, 22 April 2022.