# Tejas Networks share price today (Tejas Networks Ltd, NSE: TEJASNET)

> Tejas Networks share price today: ₹413.60 at the NSE close on 3 November 2026, down 22.5% in a year. Tejas Networks (NSE: TEJASNET) is worth ₹7,367 crore, trades at a P/E of 60.6 and has closed between ₹304.05 and ₹632.35 over the past 52 weeks. > Tejas Networks Ltd's share price has risen faster than its earnings: −22.5% in a year, against −302.0% for earnings per share. TEJASNET · Telecom Services · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/tejas-networks-ltd

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## Key numbers

- Price: ₹413.60 (−22.5% in a year)
- P/E: 60.6× (higher than 78% of the last 8.3 years)
- Revenue (Sep 2026): ₹406 Cr (+55.0% on a year ago)
- Profit (Sep 2026): −₹207 Cr
- Operating margin: −26.0% (+86.0 points on a year ago)
- ROCE: −15%, FY26
- ROIC: −12.4%, against a 12.0% cost of capital: −24.4 points
- Profit that came in as cash: −432%, last 3 years

The main question: profits are rising, but only −432% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the Tejas Networks share price today? Tejas Networks Ltd's share price was ₹413.60 at the close on 3 November 2026. It has been falling for 3 weeks. That is 18.9% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹304 and ₹632, and at that close it sat 33% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 16 weeks running. Over the last 9.3 years the share price moved +37% while the NIFTY 500 moved +159%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 17 July 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Tejas Networks this quarter? Three changes stood out: profit grew again in the September 2026 quarter, operating margin up 86 points on a year earlier and promoters cut their stake for 14 quarters in a row. 1. Profit grew again in the September 2026 quarter Profit was ₹-207 crore, +32.6% on a year earlier (₹-307 crore), after 6 quarters of decline. Why: The loss shrank because BSNL expansion shipments started, which lifted revenue and helped the main business turn a profit. Next results: check whether the main business profit before interest, tax and depreciation stays positive and improves, as management targets. From the earnings call on 16 Oct 2026. 2. Operating margin up 86 points on a year earlier -26% in the September 2026 quarter, from -112%. Why: The margin improved mostly because last year had a one time contract manufacturing provision that did not repeat this quarter. Next results: check whether profit before interest, tax and depreciation stays positive and improves, as management targets. From the earnings call on 16 Oct 2026. 3. Promoters cut their stake for 14 quarters in a row From 56.4% to 53.3% of the company by the September 2026 quarter. ## What are Tejas Networks' latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Tejas Networks reported revenue of ₹406 crore, up 55.0% from ₹262 crore a year earlier, and a loss of ₹207 crore. ### Tejas Networks results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹406 crore | ₹262 crore | +55.0% |
| Profit | loss of ₹207 crore | loss of ₹307 crore | n/a |
| Earnings per share | ₹−11.62 | ₹−17.36 | n/a |
| Operating margin | −26.0% | −112.0% | +86.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Tejas Networks' management discussed these results on a call held on 16 October 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Tejas Networks share price history? Tejas Networks closed at ₹413.60 on 3 November 2026, down 22.5% from ₹533.50 a year earlier (31 October 2025) and down 5.7% over five years. Its highest weekly close since June 2017 was ₹1,439.10 on 5 July 2024. ### Tejas Networks share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹407.30 | +1.5% |
| 1 month ago · 1 Oct 2026 | ₹464.80 | −11.0% |
| 6 months ago · 30 Apr 2026 | ₹415.15 | −0.4% |
| 1 year ago · 31 Oct 2025 | ₹533.50 | −22.5% |
| 3 years ago · 3 Nov 2023 | ₹844.35 | −51.0% |
| 5 years ago · 4 Nov 2021 | ₹438.55 | −5.7% |
| Earliest weekly close in our records · 30 Jun 2017 | ₹302.50 | +36.7% |
| Highest weekly close since June 2017 · 5 Jul 2024 | ₹1,439.10 | −71.3% |
| Lowest weekly close since June 2017 · 22 May 2020 | ₹31.15 | +1,227.8% |
| 52-week high (weekly close) · 19 Jun 2026 | ₹632.35 | −34.6% |
| 52-week low (weekly close) · 23 Jan 2026 | ₹304.05 | +36.0% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (494 weekly closes from 30 June 2017 to 3 November 2026.)

## What is the latest news on Tejas Networks? 3 Nov 2026: Tejas Networks closed at ₹413.60, up 1.5% on the week and down 11.0% on the month. 16 Oct 2026: Tejas Networks held its results call for July to September 2026. Management guided: Most of ₹1,500 crore BSNL expansion order to enter order book by end of this quarter. ### Earlier

- Results for July to September 2026: Revenue up 55.0% on a year earlier. ## What dividend does Tejas Networks pay? Tejas Networks paid no dividend in the 12 months to 4 November 2026. The last was a dividend of ₹2.50 a share, ex-date 19 June 2025. ### Tejas Networks dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 19 Jun 2025 | ₹2.50 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 1 of 5 Of the last 5 financial years, years with an NSE dividend record

Not in its latest year. Tejas Networks Ltd paid out 0% of its profit as dividends in FY26. It did pay a dividend in 2 of its last 13 reported years, so there is a history but no current dividend. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Tejas Networks management say on the latest results call? On the call for July to September 2026, held on 16 October 2026, Tejas Networks' management guided: Most of ₹1,500 crore BSNL expansion order to enter order book by end of this quarter. > “Therefore, the entire 1,500 crores is not in the order book yet, but we expect most of it to come in by the end of this quarter.”
> Management, on the call for July to September 2026

### What management guided

- Significant milestone-linked BSNL collections this quarter to substantially cut receivables. - Elevated inventory to fall substantially over coming quarters toward normalized quarterly levels on BSNL execution. - Gross debt to reduce significantly over coming quarters alongside shipments and past-dues collections. - Quarterly positive operating profit planned with steady improvement toward profitability in upcoming quarters. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/5783/Conference Call/CC-Oct26.pdf). (From the call for July to September 2026, 16 October 2026.)

## What to watch in Tejas Networks' next results? When Tejas Networks reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: BSNL expansion purchase orders reaching flagged coverage by quarter-end - check order-book update for completion. - What to check (from the call)
- BSNL expansion purchase orders reaching flagged coverage by quarter-end - check order-book update for completion. - Milestone-linked BSNL collections landing this quarter - check receivables print for substantial drop. - Stocked inventory converting and borrowings easing on BSNL execution - check inventory and net-debt prints for significant fall. - Quarterly operating profit inflecting to positive - check operating profit print for turnaround. ## Which stock lists is Tejas Networks on? Tejas Networks is not on any of our India lists this week. ## Is Tejas Networks profitable? Tejas Networks Ltd posted a net loss of ₹207 Cr in the Sep 2026 quarter. The full FY26 year was a loss of ₹909 Cr. That loss is 51.0% of the quarter's revenue. The same quarter a year earlier lost ₹307 Cr. 8 of the last 12 reported quarters were loss-making. For the full year, FY26 profit was −₹909 Cr (−303.4% on the year before). ## How much revenue does Tejas Networks make, and is it growing? Tejas Networks Ltd reported ₹406 Cr of revenue in the Sep 2026 quarter, +55.0% on the same quarter a year earlier. That is the 2nd quarter in a row with growth on the year before. Over 10 years it has grown 5.8% a year on average. The last full year, FY26, came in at ₹1,103 Cr. The last four reported quarters add to ₹1,448 Cr. FY26 revenue was ₹1,103 Cr, −87.6% on the year before. Recent pace: the last four quarters grew −4.2% on average, against 5.8% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew −71.1%, against −51.9% a year over the last 8 quarters (rolling over). ## How much of every ₹100 of sales does Tejas Networks keep? Tejas Networks Ltd's operating margin was −26.0% in the Sep 2026 quarter, 86.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between −62.0% and 22.0%. The latest quarter is within that range. Why the margin moved: operating margin changed +85.9 percentage points on the year while gross margin changed +41.2 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales. ## Is Tejas Networks' profit turning into cash? Over the last 3 years Tejas Networks Ltd's operations used more cash than they brought in, so cash conversion was −432%, a gap worth watching. In FY26 it brought in ₹135 Cr of operating cash against −₹909 Cr of profit. After ₹932 Cr of spending on assets, free cash was −₹797 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. ## Where does Tejas Networks' cash go? Tejas Networks Ltd's customer, stock and supplier day counts come out in the thousands of days on sales this small (₹1,103 Cr in FY26), so no cash-cycle chart is drawn and this section looks at its spending on assets instead. It spent ₹2,217 Cr on assets over the last 3 years. Averaged over those years that is 67.0% of FY26 revenue a year. Spending on assets: ₹2,217 Cr over the last 3 years, against ₹938 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹950 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Tejas Networks' P/E ratio, and how does it compare with its own history? Tejas Networks Ltd's P/E is 60.6×, near the high end of its own history: higher than 78% of past readings. Its usual P/E (the middle reading) is 23.6×, over 8.3 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved −302.0% while the price moved −22.5%. The price did better than earnings, which pushed the multiple up within its own range. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Tejas Networks business getting better or worse? Tejas Networks Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 12 quarters of 2 measures, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## How much does Tejas Networks earn on its capital? Tejas Networks Ltd earned a ROCE of −15% in FY26. Its return on capital used (ROIC) is 24.4 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a −82.4% net margin and 0.12× asset turnover (sales divided by assets). Why the return is what it is (FY26): a −82.4% net margin × 0.12× asset turnover × 3.21× leverage (assets divided by equity) ≈ −31.7% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: −12.4% − 12.0% = −24.4 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. The −12.4% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at −16.6%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Tejas Networks have too much debt? Tejas Networks Ltd has total debt of ₹4,970 Cr against shareholder equity of ₹2,528 Cr as of Sep 2026, so its debt is 1.97× its equity. Year by year, that ratio went from 0.01 in FY22 to 1.43 in FY26. Keep that borrowing in mind when reading the returns on this page. ## What is the Tejas Networks shareholding pattern? Foreign institutions cut their stake in Tejas Networks Ltd by 3.0 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 6.6% of the company. Promoters moved −2.1 points over the same period, to 53.3%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: −3.0 points over 8 quarters, to 6.6%; Promoters: −2.1 points over 8 quarters, to 53.3%; Domestic institutions: −0.8 points over 8 quarters, to 4.0%. Why the owners changed: foreign institutions drove it (−3.0 points), together with promoters (−2.1 points). They reduced their stake. ## How far is Tejas Networks from balance-sheet trouble? For Tejas Networks Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Tejas Networks rank in its industry? 28.6 out of 100, rank 13 of 16 in Telecom Services, with 71% of the evidence available. Tejas Networks Ltd scores 28.6 out of 100 against the 16 companies it is compared with in Telecom Services, ranking 13. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 12.9 + 1.5 + 10 + 4.2 = 28.6. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Tejas Networks compared with? Tejas Networks ranks 13 of 16 Telecom Services companies on the 4-Factor Sector Score, with 28.6 out of 100. 1. [Bharti Airtel Ltd](https://www.sectoralpha.in/stocks/bharti-airtel-ltd) BHARTIARTL · turning · Most evidence points up · 89% evidence 75.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.6/35 · Revenue 19.6% · Profit -9.4% · Operating margin change 1 points · 88% evidence Capital efficiency 21.4/25 · ROCE 17.6% · Operating margin 57% · 100% evidence Valuation 15.1/20 · P/E 39.4× · PEG 0.69 · 65% evidence Relative strength 18.0/20 · Lead over its industry 8.8% · Lead over NIFTY 500 7.5% · 1 year -3.9% · 100% evidence · 2 of 12 weeks ahead Exact sum: 20.6 + 21.4 + 15.1 + 18 = 75.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Bharti Hexacom Ltd](https://www.sectoralpha.in/stocks/bharti-hexacom-ltd) BHARTIHEXA · breaking out · Most evidence points up · 74% evidence 69.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.3/35 · Revenue 7.9% · Profit 32.8% · Operating margin change 2 points · 88% evidence Capital efficiency 21.2/25 · ROCE 21.4% · Operating margin 53% · 100% evidence Valuation 12.1/20 · P/E 44.3× · PEG 1.18 · 65% evidence Relative strength 12.0/20 · Lead over its industry n/a · Lead over NIFTY 500 7.5% · 1 year -12.1% · 25% evidence · 5 of 12 weeks ahead Exact sum: 24.3 + 21.2 + 12.1 + 12 = 69.6 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [HFCL Ltd](https://www.sectoralpha.in/stocks/hfcl-ltd) HFCL · leader · Most evidence points up · 75% evidence 69.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.0/35 · Revenue 100% · Profit 100% · Operating margin change 7 points · 95% evidence Capital efficiency 12.8/25 · ROCE 10.8% · Operating margin 25% · 76% evidence Valuation 9.8/20 · P/E 40.8× · PEG n/a · 15% evidence Relative strength 16.9/20 · Lead over its industry 78% · Lead over NIFTY 500 70.2% · 1 year 214.7% · 100% evidence · 10 of 12 weeks ahead Exact sum: 30 + 12.8 + 9.8 + 16.9 = 69.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [ADC India Communications Ltd](https://www.sectoralpha.in/stocks/adc-india-communications-ltd) KRONECOMM · breaking out · Evidence leans up · 78% evidence 58.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.9/35 · Revenue 19% · Profit 0.3% · Operating margin change 4 points · 83% evidence Capital efficiency 18.1/25 · ROCE 31.4% · Operating margin 17.1% · 76% evidence Valuation 6.4/20 · P/E 44.7× · PEG n/a · 50% evidence Relative strength 17.4/20 · Lead over its industry 28.7% · Lead over NIFTY 500 24.8% · 1 year 41.9% · 100% evidence · 2 of 12 weeks ahead Exact sum: 16.9 + 18.1 + 6.4 + 17.4 = 58.8 · What this means: Relative strength against the index is 24.8%, and revenue and profit growth are weak. 5. [Indus Towers Ltd](https://www.sectoralpha.in/stocks/indus-towers-ltd) INDUSTOWER · turning · Evidence leans up · 100% evidence 56.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 8.6/35 · Revenue 5.3% · Profit -24% · Operating margin change -2 points · 100% evidence Capital efficiency 20.1/25 · ROCE 19.5% · Operating margin 54% · 100% evidence Valuation 16.8/20 · P/E 14× · PEG 0.46 · 100% evidence Relative strength 10.6/20 · Lead over its industry -2.5% · Lead over NIFTY 500 -3.5% · 1 year 4% · 100% evidence · 0 of 12 weeks ahead Exact sum: 8.6 + 20.1 + 16.8 + 10.6 = 56.1 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 6. [Tata Communications Ltd](https://www.sectoralpha.in/stocks/tata-communications-ltd) TATACOMM · turning · Evidence leans up · 93% evidence 55.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.9/35 · Revenue 9.1% · Profit -34% · Operating margin change 2 points · 100% evidence Capital efficiency 17.0/25 · ROCE 14.6% · Operating margin 21% · 100% evidence Valuation 7.9/20 · P/E 39.4× · PEG 2.22 · 65% evidence Relative strength 15.1/20 · Lead over its industry 4.3% · Lead over NIFTY 500 2.4% · 1 year -10.7% · 100% evidence · 0 of 12 weeks ahead Exact sum: 15.9 + 17 + 7.9 + 15.1 = 55.9 · What this means: Relative strength against the index is 2.4%, and revenue and profit growth are weak. 7. [Tata Teleservices (Maharashtra) Ltd](https://www.sectoralpha.in/stocks/tata-teleservices-maharashtraltd) TTML · basing · Evidence leans up · 74% evidence 50.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.0/35 · Revenue -0.7% · Profit 100% · Operating margin change 4 points · 74% evidence Capital efficiency 17.9/25 · ROCE 55.6% · Operating margin 53% · 100% evidence Valuation 8.7/20 · P/E 178.6× · PEG n/a · 15% evidence Relative strength 6.9/20 · Lead over its industry -13.6% · Lead over NIFTY 500 -14.6% · 1 year -37.1% · 100% evidence · 0 of 12 weeks ahead Exact sum: 17 + 17.9 + 8.7 + 6.9 = 50.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Suyog Telematics Ltd](https://www.sectoralpha.in/stocks/suyog-telematics-ltd) SUYOG · quiet · Evidence leans down · 78% evidence 48.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.0/35 · Revenue 11.4% · Profit 50% · Operating margin change -1 points · 83% evidence Capital efficiency 16.2/25 · ROCE 14.4% · Operating margin 60% · 76% evidence Valuation 12.6/20 · P/E 8.7× · PEG n/a · 50% evidence Relative strength 0.0/20 · Lead over its industry -33.1% · Lead over NIFTY 500 -34.4% · 1 year -42.9% · 100% evidence · 0 of 12 weeks ahead Exact sum: 20 + 16.2 + 12.6 + 0 = 48.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Vodafone Idea Ltd](https://www.sectoralpha.in/stocks/vodafone-idea-ltd) IDEA · quiet · Evidence leans down · 71% evidence 47.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.5/35 · Revenue 3.3% · Profit 100% · Operating margin change 1 points · 65% evidence Capital efficiency 6.1/25 · ROCE -1.7% · Operating margin 43% · 100% evidence Valuation 11.3/20 · P/E 3.5× · PEG n/a · 15% evidence Relative strength 11.3/20 · Lead over its industry 5.8% · Lead over NIFTY 500 3.3% · 1 year 35.5% · 100% evidence · 2 of 12 weeks ahead Exact sum: 18.5 + 6.1 + 11.3 + 11.3 = 47.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [NELCO Ltd](https://www.sectoralpha.in/stocks/nelco-ltd) NELCO · quiet · Evidence leans down · 68% evidence 39.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.5/35 · Revenue 6.2% · Profit -7.5% · Operating margin change 1.5 points · 100% evidence Capital efficiency 8.7/25 · ROCE 7.2% · Operating margin 11.6% · 100% evidence Valuation 8.5/20 · P/E 254× · PEG n/a · 15% evidence Relative strength 9.1/20 · Lead over its industry n/a · Lead over NIFTY 500 -8% · 1 year -22.5% · 25% evidence · 7 of 12 weeks ahead Exact sum: 13.5 + 8.7 + 8.5 + 9.1 = 39.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [GTL Infrastructure Ltd](https://www.sectoralpha.in/stocks/gtl-infrastructure-ltd) GTLINFRA · basing · Too little evidence to rank firmly · 56% evidence 39.3 out of 100 Growth Capital Valuation Relative
12. [ITI Ltd](https://www.sectoralpha.in/stocks/iti-ltd) ITI · quiet · Most evidence points down · 71% evidence 34.2 out of 100 Growth Capital Valuation Relative
13. Tejas Networks Ltd this page TEJASNET · basing · Most evidence points down · 71% evidence 28.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.9/35 · Revenue -71.1% · Profit -80% · Operating margin change 86 points · 74% evidence Capital efficiency 1.5/25 · ROCE -14.6% · Operating margin -26% · 100% evidence Valuation 10.0/20 · P/E n/a · PEG n/a · 0% evidence Relative strength 4.2/20 · Lead over its industry -8.7% · Lead over NIFTY 500 -10.8% · 1 year -24.5% · 100% evidence · 3 of 12 weeks ahead Exact sum: 12.9 + 1.5 + 10 + 4.2 = 28.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 14. [OnMobile Global Ltd](https://www.sectoralpha.in/stocks/onmobile-global-ltd) ONMOBILE · basing · Most evidence points down · 65% evidence 25.3 out of 100 Growth Capital Valuation Relative
15. [Sar Televenture Ltd](https://www.sectoralpha.in/stocks/sar-televenture-ltd) SARTELE · Too little evidence to rank firmly · 39% evidence 58.7 out of 100 Growth Capital Valuation Relative
16. [Mahanagar Telephone Nigam Ltd](https://www.sectoralpha.in/stocks/mahanagar-telephone-nigam-ltd) MTNL · basing · Too little evidence to rank firmly · 46% evidence 37.9 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Telecom Services](https://www.sectoralpha.in/sectors/telecom-services), all 16 compared on one page. ## Which companies are close to Tejas Networks in size? Tejas Networks is the 8th largest of 16 Telecom Services companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Tata Communications, HFCL and ITI. Just below it: Tata Teleservices (Maharashtra), NELCO and Mahanagar Telephone Nigam. ### Telecom Services companies close in size

1. [Tata Communications Ltd](https://www.sectoralpha.in/stocks/tata-communications-ltd) ₹47,763 crore
2. [HFCL Ltd](https://www.sectoralpha.in/stocks/hfcl-ltd) ₹35,401 crore
3. [ITI Ltd](https://www.sectoralpha.in/stocks/iti-ltd) ₹20,799 crore
4. Tejas Networks Ltd ₹7,178 crore
5. [Tata Teleservices (Maharashtra) Ltd](https://www.sectoralpha.in/stocks/tata-teleservices-maharashtraltd) ₹6,709 crore
6. [NELCO Ltd](https://www.sectoralpha.in/stocks/nelco-ltd) ₹1,543 crore
7. [Mahanagar Telephone Nigam Ltd](https://www.sectoralpha.in/stocks/mahanagar-telephone-nigam-ltd) ₹1,400 crore

[All 16 Telecom Services companies, largest first](https://www.sectoralpha.in/sectors/telecom-services#all-companies)

### Companies close in size in other industries

1. [RHI Magnesita India Ltd](https://www.sectoralpha.in/stocks/rhi-magnesita-india-ltd) ₹7,192 crore · Refractories
2. [NCC Ltd](https://www.sectoralpha.in/stocks/ncc-ltd) ₹7,189 crore · Construction & Contracting
3. Tejas Networks Ltd ₹7,178 crore
4. [Railtel Corporation of India Ltd](https://www.sectoralpha.in/stocks/railtel-corporation-of-india-ltd) ₹7,138 crore · Railways
5. [Swan Corp Ltd](https://www.sectoralpha.in/stocks/swan-corp-ltd) ₹7,126 crore · Diversified

## What else do people ask about Tejas Networks? ### What is Tejas Networks's share price today? Tejas Networks Ltd's share price is ₹413.60, −22.5% over the past year. The whole company is worth ₹7,367 Cr on the market. In the last 52 weeks it traded between ₹304 to ₹632; today it is 33% of the way up from the low, 18.9% below its 200-day average (as of 3 November 2026). ### What were Tejas Networks's latest quarterly results? Tejas Networks Ltd reported revenue of ₹406 Cr and a net loss of ₹207 Cr for the Sep 2026 quarter. Earnings per share were −₹11.62. The operating margin was −26.0%, 86.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Tejas Networks's market cap? Tejas Networks Ltd's market capitalisation is ₹7,367 Cr at a share price of ₹413.60. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Tejas Networks performing? Tejas Networks Ltd's share price has been falling for 3 weeks. Over the past 13 weeks it has done worse than the NIFTY 500, for 16 weeks running. This describes what the data did, not a rating (as of 3 November 2026). ### Will Tejas Networks's share price go up? This page does not forecast Tejas Networks Ltd's share price. What it shows instead: the share price is ₹413.60, and it has been falling for 3 weeks. Its P/E of 60.6× is higher than 78% of its own last 8 years (as of 3 November 2026). ### Does Tejas Networks have too much debt? Yes, Tejas Networks Ltd has a lot of debt: its debt is 1.43× its equity, and its operating profit is −2 times its interest bill. FY26 borrowings were ₹4,177 Cr against equity of ₹2,931 Cr. Keep that borrowing in mind when reading the returns on this page (as of 3 November 2026). ### Where is Tejas Networks in its business cycle? Tejas Networks Ltd's FY26 operating margin was −62.0%, against a 13-year range of −62.0% to 22.0%: the low end of its own range, which is often where recoveries start. The latest quarter was −26.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Tejas Networks story? The main question: profits are rising, but only −432% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Tejas Networks a stock worth studying right now? What the numbers show: Tejas Networks Ltd's share price has risen faster than its earnings: −22.5% in a year, against −302.0% for earnings per share. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Tejas Networks share price forecast for 2026? What management itself guided: Most of ₹1,500 crore BSNL expansion order to enter order book by end of this quarter. This is research, not advice. We’re not SEBI-registered.