Tejas Networks shares jump 4% on Rs 123 crore PLI incentive for FY24

Shares of Tejas Networks rose by 4 per cent on Monday after receiving an incentive under the Production Linked Incentive (PLI) scheme, worth Rs 123.45 crore, for the financial year 2023-24.

 

Tejas Networks' counter rose as much as 4.1 per cent during the market opening to Rs 686.8 per share, the biggest intraday rise since February 20 this year. The stock pared gains to trade 3.7 per cent lower at Rs 884.3 apiece, compared to a 0.65 per cent gain in Nifty 50 as of 9:37 AM.  The stock has declined nearly 55 per cent from its all-time high in June last year. It has fallen by 42 per cent so far in 2025, following five consecutive years of gains exceeding 1,110 per cent since 2020.  

On March 12, 2025, the telecom equipment and accessories manufacturer received Rs 123.45 crore from the Ministry of Communications, Department of Telecommunications, towards incentive for the financial year 2023-24 under the PLI scheme for telecom and networking products, according to an exchange filing on Thursday.  

 

 

Tejas Networks is a wireline and wireless telecom and data networking products company that designs develops and manufactures high-performance and future-ready products for building high-speed communication networks that carry voice data and video traffic from fixed line mobile and broadband networks. The company is a part of Tata Group, with Panatone Finvest (a subsidiary of Tata Sons Pvt. Ltd.) being the majority shareholder.

 

Tejas Networks' reported a profit after tax (PAT) of Rs 166 crore for the third quarter ended December 2024 (Q3FY25) as against a PAT of Rs 275 crore seen in Q2FY25. This was a decline of 40 per cent quarter-on-quarter (Q-o-Q). The company had posted a loss of Rs 45 crore in the year-ago quarter.

 

Similarly, the company's revenue from sales and services jumped 4.5 times to Rs 2,497 crore from Rs 560 crore in the previous year quarter. It, however, declined from a revenue of Rs 2,655 crore seen in the previous quarter of the current fiscal. The company said it had an order book of Rs 2,681 crore at the end of Q3FY25, as against Rs 4,845 crore at the end of Q2FY25.