Tejas Networks shares rally 10%, stock jumps 24% in 5 days; here's what's driving the rally

Tejas Networks shares jumped as much as 10% to its intraday high of ₹625.5 apiece on Thursday, June 4, a day after the firm released its annual report.

The shares of the firm have climbed 24% in the last five trading sessions. Shares of Tejas Networks have increased 49% over a month, while they have jumped 25% in the past six months. From the beginning of the year, the stock has soared nearly 39%.

The company has a market capitalisation of ₹11,084.60 crore.

Shares of the company had touched their one-year high of ₹749.95 apiece on June 6, 2025, while their 52-week low of ₹294 was hit on January 27, 2026.

Here are few things to know from the annual report

• Tejas Networks said that despite the challenges arising from increasing geopolitical tensions, the overall global industry outlook for FY27 remains positive, supported by strong underlying drivers such as growth in mobile data usage, rising fixed broadband penetration, enterprise digitalisation, and ongoing network transformation.

• The Bengaluru-headquartered firm’s order inflows during FY26 were higher than revenue execution, driven by Bharat Net and higher orders from domestic and international customers. As a result, its order backlog has increased to ₹1,514 crore by the end of FY26 from ₹1,019 crore at the end of FY25.

“A significant portion of our revenues are derived from a small number of customers. This may lead to quarterly fluctuation and seasonality in our revenues. We continue to focus on growing and diversifying our order book through product development and international expansion,” Tejas Networks said.

• Tejas Networks said FY26 was a year of consolidation and transition, during which it focused on building a foundation for long-term growth. The company added that several technologies and products developed over the past few years reached the commercialisation stage. These included its 4G/5G RAN products, access and aggregation IP/MPLS routers, and 400G+ coherent DWDM equipment.

• Tejas’ revenue for FY26 was ₹1,103 crore and primarily consisted of wireline product sales to domestic and international customers. Revenue was lower compared to FY25 due to the completion of the supply of 100,000 sites for the BSNL 4G project in FY25, which led to significantly higher revenue in FY25 as well as a delay in the award of certain projects which were expected to be executed during the year, the firm said. During FY26, the company received a PLI grant of ₹278 crore related to previous years.

• The share of international business increased to 16% in FY26 from 10% in FY24 and 3% in FY25. However, domestic business continues to be a large contributor to Tejas’ revenue. The share of Indian private business has increased to 62% in FY26.

• The company borrowings increased in FY26 primarily to meet the working capital requirements for large project execution. As a result, most of the borrowings are of working capital nature, it added. The company also has ₹916 crore of long-term borrowings, mainly to fund its capex requirements.

Tejas Networks Q4 earnings

Tejas Networks had posted a consolidated net loss of ₹211.34 crore in the March quarter of the financial year 2025-26. The company had reported a net loss of ₹71.80 crore in the same period of the previous fiscal year.

Revenue from operations fell 82.55% to ₹332.69 crore in the quarter under review, compared to ₹1,906.94 crore in the year-ago period.