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Tejas Networks
Company typePublic
IndustryTelecommunications equipment
Founded2000
Headquarters
Bangalore
,
India
Area served
Worldwide
Key people
Sanjay Nayak CEO, MD

Arnob Roy [Executive Director]] & COO

Kumar N. Sivarajan CTO
ProductsxPON-based Fiber Broadband Access, Converged Packet Optical, OTN/DWDM, PTN, Carrier Ethernet Routing & Switching, 4G/LTE based Wireless Broadband
Increase US$69 Million[1]
Number of employees
785
Websitewww.tejasnetworks.com

Tejas Networks is an optical, broadband and data networking products company based in India. The company designs, develops and sells products to telecommunications service providers, internet service providers, utilities, defense and government entities in 75 countries. The company has built many IPs in multiple areas of Telecom networking and has emerged as an exporter to other developing countries including Southeast Asia and Africa.[2][3]

History

Founded in 2000 by Sanjay Nayak with initial funding from Gururaj Deshpande.[4] They were later joined by Kumar Sivarajan (an academic at Indian Institute of Science, Bangalore and author of a book on optical fiber) along with Arnob Roy (an ex-colleague of Nayak).[5] Tejas Network made a beginning with the development of Intelligent Network technologies. These networks transferred data between two points at the precise speed as per the requirements of the customer. The network also rerouted and cleaned the traffic in case of disruptions[4] During 2002–2003, the company acquired ten customers.[5]

Tejas Networks went public on BSE and NSE in June 2017 with a valuation of Rs 2301 crore (23,010,000,000). It was said to be the first listed player in the optical networking equipment space in India by Centrum Broking analysts Alpesh Thacker and Siddhartha Khemka. Abu Dhabi Investment Authority (ADIA), US-based private equity firm East Bridge Capital and PremjiInvest, the family investment arm of Wipro Ltd chairman Azim Premji, were among the anchor investors that bet on Tejas Networks ahead of its IPO.[6] In 2020, Tejas Network developed the world's largest disaggregated packet-optical switch that was called TJ1600S/I.[7]

ICRA reported a downward shift in their rating because the revenue and profitability of the company experienced a decline in the financial year 2020. The decrease in revenue was accounted to reduced revenue from government and international market.[2]

On 29 July 2021, Tata Sons, through its subsidiary Panatone Finvest Limited, initiated an investment in Tejas Networks to buy a 43.35% stake for Rs 1884 crore through shares and warrants.[8] According to The Economic Times, Tejas Networks is looking to use Tata group’s backing to expand its telecom products portfolio.[9]

Business

Tejas also has products created on 10G-PON technology, and its equipment are upgradable to 5G. They help private telecom operators in India by supplying GPON equipment. They are partnering with system integrators to bid for BSNL’s 4G tender and investing in 4G wireless. Tejas also supports BSNL’s optical transmission network.[10][11]

The company is supplying its products to Bharti Airtel for supporting optical network and implementating 5G backhaul, B2B services and broadband applications.[12]

Tejas Networks also supplies GPON equipment to private telecom operators in India.[13][14]

Tejas' GPON solution has been deployed in BharatNet, the world's largest greenfield rural broadband rollout delivering high-speed Internet services to over 200 million people. Tejas Equipment have helped provide broadband internet to all of India's gram panchayats and has helped connect 40,000 villages so far.[13][14] Tejas’ broadband products is helping 70% requirement of the BharatNet project.[10][11]

The company revenue was Rs 526.6 crore (5,266,000,000) in fiscal 2021.[15] Tejas has filed for 349 patents, of which 127 have been granted.[16] They competes with other players in market like Ericsson, Nokia-Siemens, Huawei and Alcatel-Lucent, Ciena, Adva.[4] With the help of PLI Scheme, Tejas is increasing the production to support local demand and reduce $5 billion import bill for the FTTx segment.[10][11]

Market

ICRA, India’s credit rating agency, placed Tejas Networks on the watchlist with a positive involvement in a report released on August 11, 2021, following the company’s agreement with Tata Sons’ subsidiary for preferential allotment of equity shares worth Rs 500 crore and warrants worth Rs 950 crore (9,500,000,000) and Rs 400 crore (4,000,000,000). ICRA noted the above event and placed the outstanding long-term rating of ICRAA- (ICRA A minus) and short-term rating of ICRAA2+ (ICRA A two-plus) on rating watch with positive implications. ICRA has said that it will monitor the progress of the acquisition as well as completion of the open offer as per proposed timelines and, its impact on the credit profile of the company.[17]

References

  1. ^ "Tejas Networks Overview". Tejas Networks.
  2. ^ a b "Tejas Networks Limited: Ratings downgraded to [ICRA]A-(Stable)/ [ICRA]A2+". ICRA.
  3. ^ "Tejas Networks India Pte. - A Venture in India - Case - Faculty & Research - Harvard Business School". www.hbs.edu. Retrieved 2021-06-28.
  4. ^ a b c Apr 6, TNN | Updated; 2011; Ist, 12:57. "Tejas Networks: Building global network - Times of India". The Times of India. Retrieved 2021-06-28. {{cite web}}: |last2= has numeric name (help)CS1 maint: numeric names: authors list (link)
  5. ^ a b Bartzokas, Anthony; Mani, Sunil (2004-01-01). Financial Systems, Corporate Investment in Innovation, and Venture Capital. Edward Elgar Publishing. ISBN 978-1-84542-064-2.
  6. ^ "Tejas Networks IPO covered 40% on day 2". VCCircle. 2017-06-15. Retrieved 2021-07-12.
  7. ^ INSIGHTS, IAS. Delhi Current Affairs General Knowledge Yearbook 2020. New Era Publication.
  8. ^ "Tejas Networks announces a strategic investment from Panatone Finvest Limited, a subsidiary of Tata Sons Private Limited, for a controlling stake in the company – Company Announcement - FT.com". markets.ft.com. Retrieved 2021-08-11.
  9. ^ www.ETTelecom.com. "Tejas to expand telecom gear portfolio, take on global biggies after Tata sale - ET Telecom". ETTelecom.com. Retrieved 2021-09-13.
  10. ^ a b c www.ETTelecom.com. "Homebred gear vendor Tejas bets big on wired broadband expansion; to bid for BSNL 4G via SI - ET Telecom". ETTelecom.com. Retrieved 2021-12-21.
  11. ^ a b c Limited, Tejas Networks. "Airtel selects Tejas Networks for optical network expansion". www.newswire.ca. Retrieved 2021-12-21.
  12. ^ "This telecom equipment maker is up six fold in one year while waiting for production linked incentives". Business Insider. Retrieved 2021-10-14.
  13. ^ a b India, Press Trust of (2019-02-25). "Tejas Networks Launches World's First Ultra-Converged Broadband Product at Mobile World Congress, Barcelona". Business Standard India. Retrieved 2021-11-09.
  14. ^ a b Khan, Danish. "Homebred gear vendor Tejas eyes home broadband; to bid for BSNL 4G via system integrator". The Economic Times. Retrieved 2021-11-09.
  15. ^ Market, Capital (2021-04-22). "Tejas Networks hits the roof on turnaround Q4 results". Business Standard India. Retrieved 2021-07-12.
  16. ^ "Tejas Networks registers ₹33.6 crore net profit in Q4". @businessline. Retrieved 2021-07-12.
  17. ^ "ICRA places Tejas Networks ratings on watch with positive implications; Stock ends ~5% higher". www.indiainfoline.com. Retrieved 2021-09-13.
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