Tejas Networks bags Rs 298 cr-order from PGCIL

The wireline and wireless networking products maker announced that it secured a contract worth Rs 298 crore from Power Grid Corporation of India Limited (PGCIL).

Tejas Networks said that the contract is for the supply, installation, commissioning and support of its optical networking equipment, for the augmentation of PGCIL's pan-India telecom backbone and access networks.

As part of this contract, Tejas will deploy a wide range of its versatile family of products including TJ1600 multi-terabit OTN cross-connects and 100G/200G DWDM systems with advanced Flex-grid ROADM functionality, TJ1400P series of MPLS-TP/Carrier Ethernet switches, along with TejNMS, its universal, multi-technology network management system to create a scalable and high-capacity network for PGCIL.

Sanjay Nayak, managing director and CEO of Tejas Networks said, "We are delighted to be selected by PGCIL for the capacity expansion of their nationwide backbone and access network, which further reinforces our position as a leading trusted telecom equipment provider for the critical infrastructure segment. This win is a strong endorsement of the competitiveness of our end-to-end portfolio of world-class optical networking products for Access, Metro and Backbone networks."

Tejas Networks designs and manufactures high-performance wireline and wireless networking products for telecommunications service providers, internet service providers, utilities, defence and government entities in over 75 countries. Tejas Networks is a part of the Tata Group, with Panatone Finvest (a subsidiary of Tata Sons) being the majority shareholder.

Tejas Networks reported a consolidated net loss of Rs 6.64 crore in Q1 FY23 compared with a net profit of Rs 7.55 crore in Q1 FY22. Net revenue during the quarter was at Rs 125.76 crore, down 12.8% YoY. The company said that the Q1 revenue was weak since it could not fulfill customer orders due to component shortages. It is making changes to internal processes and tools to better manage the supply chain.

Shares of Tejas Networks fell 0.73% to Rs 468.80 on Friday, 29 July 2022.

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