Pre-tax loss in the fourth quarter stood at Rs 27 crore as against Rs 95.9 crore in the same period last year.

For FY23, consolidated net revenue was Rs. 919.6 crore, which was a YoY increase of 67%, resulting in a loss before tax of Rs. 42.7 crore as compared to loss of Rs. 117.1 crore, for corresponding previous period. Loss after tax was Rs. 36.4 crore as compared to loss of Rs.62.7 crore for corresponding previous period.

Sanjay Nayak, managing director and CEO of Tejas Networks said, “In FY23 we recorded our highest-ever consolidated revenues of Rs 920 crore and highest-ever new order inflow. We are starting FY24 with a robust order book of Rs 1,934 crore and a strong visibility into large opportunities. We have made significant investments in our supply chain processes and taken adequate inventory actions to ensure that we can scale-up and deliver on the growth opportunities ahead of us. During FY23, in line with our business growth plans, we made significant investments in R&D, Supply chain and Field-support and our headcount increased by 41%.”

Venkatesh Gadiyar, CFO said, “As on 31 March 2023, our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, were at Rs. 1,306 crore and we continue to be a debt-free company.

We have made cash flow plans, working with our suppliers, to ensure that we can deliver on our growth and can execute large orders without stressing our working capital.”

As on 31 March 2023, Tejas and its subsidiaries have filed for 445 patents of which 217 have been granted. Tejas Networks designs, develops, manufactures and sells high-performance telecom and networking products, which are used to build high-speed communication networks.