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Last Updated: April 2, 2026, 3:47 am
Author: Getaka|Social: XLinkedIn

Tejas Networks Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹288.96Overvalued by 31.20%vs CMP ₹420.00

P/E (15.0) × ROE (12.8%) × BV (₹187.00) × DY (0.60%)

Defaults: P/E=15

₹239.94Overvalued by 42.87%vs CMP ₹420.00
MoS: -75% (Negative)Confidence: 54/100 (Moderate)Models: 2 Under, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹138.8722%Over (-66.9%)
Graham NumberEarnings₹326.4017%Over (-22.3%)
DCFCash Flow₹6.3117%Over (-98.5%)
Net Asset ValueAssets₹186.829%Over (-55.5%)
EV/EBITDAEnterprise₹664.6011%Under (+58.2%)
Earnings YieldEarnings₹253.209%Over (-39.7%)
ROCE CapitalReturns₹81.069%Over (-80.7%)
Revenue MultipleRevenue₹501.967%Under (+19.5%)
Consensus (8 models)₹239.94100%Overvalued
Key Drivers: EPS CAGR -51.9% drags value — could be higher if earnings stabilize. | Wide model spread (₹6–₹665) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -51.9% · Defaults: P/E=15

*Investments are subject to market risks

Investment Snapshot

52
Tejas Networks Ltd scores 52/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health61/100 · Moderate
ROCE 15.5% GoodROE 12.8% GoodD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 3/5 years Mixed
Smart Money30/100 · Weak
FII holding down -1.13% (6mo) SellingPromoter holding at 53.5% Stable
Earnings Quality75/100 · Strong
OPM expanding (-7% → 13%) ImprovingWorking capital: 56 days (improving) Efficient
Quarterly Momentum15/100 · Weak
Revenue (4Q): -68% YoY DecliningProfit (4Q): -216% YoY DecliningOPM: -44.0% (down 58.0% YoY) Margin pressure
Industry Rank60/100 · Moderate
ROCE 15.5% vs industry 14.5% Average3Y sales CAGR: 153% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:47 am

Market Cap 7,466 Cr.
Current Price 420
Intrinsic Value₹239.94
High / Low 914/294
Stock P/E
Book Value 187
Dividend Yield0.60 %
ROCE15.5 %
ROE12.8 %
Face Value 10.0
PEG Ratio0.00

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Tejas Networks Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Tejas Networks Ltd 7,466 Cr. 420 914/294 1870.60 %15.5 %12.8 % 10.0
Tata Teleservices (Maharashtra) Ltd 6,879 Cr. 35.2 81.2/30.1 1010.00 %50.3 %% 10.0
Mahanagar Telephone Nigam Ltd 1,519 Cr. 24.1 58.2/20.3 4570.00 %6.76 %% 10.0
OnMobile Global Ltd 461 Cr. 43.4 75.1/40.026.5 61.50.00 %2.34 %4.94 % 10.0
Reliance Communications Ltd 218 Cr. 0.79 1.95/0.75 3500.00 %%% 5.00
Industry Average154,437.75 Cr288.7835.80148.490.25%14.53%16.28%8.54

All Competitor Stocks of Tejas Networks Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 2752991883965601,3271,5632,8112,6421,907202262307
Expenses 2673082343835671,0181,3332,2772,2711,785338556441
Operating Profit 8-8-4613-8309230535372122-136-294-134
OPM % 3%-3%-24%3%-1%23%15%19%14%6%-67%-112%-44%
Other Income 21211918151213111481068
Interest 555783157616371758472
Depreciation 343534424858657411110396101104
Profit before tax -9-27-66-18-49233122411211-45-297-473-303
Tax % 62%-58%-60%-29%-8%37%36%33%22%59%-35%-35%-35%
Net Profit -15-11-26-13-4514777275166-72-194-307-197
EPS in Rs -0.99-0.68-1.55-0.74-2.648.604.5316.079.43-4.07-10.98-17.36-11.07

Last Updated: January 10, 2026, 9:23 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 3:16 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 4233876278757509003915275519202,4718,9232,678
Expenses 3283195147115977044784736319062,2057,6653,120
Operating Profit 9568113164153196-8753-80142661,258-442
OPM % 22%18%18%19%20%22%-22%10%-15%2%11%14%-17%
Other Income 10104-22283734254381654531
Interest 4647493213178431548252302
Depreciation 564938566166775277122182353405
Profit before tax 3-182954106150-13923-117-43100698-1,118
Tax % -0%-0%-0%-73%-0%2%71%-67%-46%-15%37%36%
Net Profit 3-182993107147-23738-63-3663447-769
EPS in Rs 0.48-3.074.5913.1511.7316.05-25.714.03-5.47-2.163.6925.32-43.48
Dividend Payout % -0%-0%-0%-0%-0%6%-0%-0%-0%-0%-0%10%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-700.00%261.11%220.69%15.05%37.38%-261.22%116.03%-265.79%42.86%275.00%609.52%
Change in YoY Net Profit Growth (%)0.00%961.11%-40.42%-205.64%22.33%-298.61%377.26%-381.82%308.65%232.14%334.52%

Tejas Networks Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:37%
5 Years:87%
3 Years:153%
TTM:97%
Compounded Profit Growth
10 Years:39%
5 Years:31%
3 Years:109%
TTM:5%
Stock Price CAGR
10 Years:%
5 Years:58%
3 Years:-1%
1 Year:-55%
Return on Equity
10 Years:4%
5 Years:4%
3 Years:5%
Last Year:13%

Last Updated: September 5, 2025, 1:41 pm

Balance Sheet

Last Updated: December 4, 2025, 2:05 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 6262677494959597118172174180180
Reserves 2232062945191,0581,2259851,0381,8122,8012,9763,6673,141
Borrowings 30731425928121282220501,8843,4074,296
Other Liabilities 1531462191601752641321561605793,1693,2092,264
Total Liabilities 7457288381,0341,3301,5851,2411,3122,1103,6028,20310,4629,881
Fixed Assets 655194927599791111386479611,1471,942
CWIP 8488521947412724401542354041
Investments 000077875137402262334482351
Other Assets 5975896929241,1321,3581,0851,1391,5312,5396,6738,4297,588
Total Assets 7457288381,0341,3301,5851,2411,3122,1103,6028,20310,4629,881

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 2776127150239-821158-17-380-2,036-491
Cash from Investing Activity + -74-29-50-140-213-10471-167-828-581430-655
Cash from Financing Activity + 15-40-41-28157-11-22-38399991,7131,286
Net Cash Flow -32837-18183-19750-13-638107139
Free Cash Flow -29378298171-162-9275-135-629-2,445-1,143
CFO/OP 31%115%115%95%178%-29%-13%304%58%-2,788%-757%-31%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-212.00-246.00-146.00-117.00151.00195.00-115.0031.00-100.00-36.00265.00-2.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 193196148160134252351236189198208182
Inventory Days 341405238129179143452290327422861132
Days Payable 225252205779812913412513119642466
Cash Conversion Cycle 309349181212215266669401384423645248
Working Capital Days 289318517425630458038555249020656
ROCE %9%5%13%16%12%13%-11%2%-7%-1%4%15%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 56.37%55.97%55.92%55.80%55.60%55.50%55.42%54.01%53.83%53.73%53.66%53.46%
FIIs 10.49%10.91%11.11%11.26%11.33%10.20%9.58%8.04%7.08%6.14%6.24%5.95%
DIIs 3.98%3.89%4.03%4.35%4.76%4.91%4.76%4.65%4.85%4.72%4.79%4.76%
Government 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.01%0.01%0.00%
Public 29.16%29.21%28.93%28.58%28.31%29.39%30.24%32.65%33.59%34.94%34.92%35.64%
Others 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.64%0.64%0.46%0.38%0.20%
No. of Shareholders 1,45,8721,40,4971,63,5451,67,2051,72,9981,79,9242,08,9882,61,4333,02,3543,45,7573,48,4323,47,584

Shareholding Pattern Chart

No. of Shareholders

Tejas Networks Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Nippon India Small Cap Fund 5,763,697 0.37 251.215,763,6972025-04-22 17:25:180%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 25.753.71-2.46-5.974.05
Diluted EPS (Rs.) 25.383.65-2.46-5.973.99
Cash EPS (Rs.) 44.5314.115.011.199.29
Book Value[Excl.RevalReserv]/Share (Rs.) 214.17181.03173.21163.83117.52
Book Value[Incl.RevalReserv]/Share (Rs.) 214.17181.03173.21163.83117.52
Revenue From Operations / Share (Rs.) 496.87142.0253.5846.7354.56
PBDIT / Share (Rs.) 72.5719.005.54-3.158.12
PBIT / Share (Rs.) 52.908.51-1.60-9.672.72
PBT / Share (Rs.) 38.885.76-2.48-9.942.33
Net Profit / Share (Rs.) 24.863.62-2.12-5.323.89
NP After MI And SOA / Share (Rs.) 24.863.62-2.12-5.323.89
PBDIT Margin (%) 14.6013.3710.33-6.7414.87
PBIT Margin (%) 10.645.99-2.98-20.694.97
PBT Margin (%) 7.824.05-4.63-21.274.27
Net Profit Margin (%) 5.002.54-3.95-11.387.12
NP After MI And SOA Margin (%) 5.002.54-3.95-11.387.12
Return on Networth / Equity (%) 11.601.99-1.22-3.243.30
Return on Capital Employeed (%) 22.444.27-0.86-5.862.27
Return On Assets (%) 4.260.76-1.01-2.972.86
Long Term Debt / Equity (X) 0.030.000.000.000.00
Total Debt / Equity (X) 0.840.550.000.000.00
Asset Turnover Ratio (%) 0.950.410.320.320.41
Current Ratio (X) 1.351.436.2610.456.07
Quick Ratio (X) 0.970.634.748.794.73
Inventory Turnover Ratio (X) 2.920.711.151.181.15
Interest Coverage Ratio (X) 5.186.906.25-11.6521.17
Interest Coverage Ratio (Post Tax) (X) 2.772.31-1.40-18.6611.15
Enterprise Value (Cr.) 16577.3512856.159229.624658.931319.40
EV / Net Operating Revenue (X) 1.865.2010.048.462.51
EV / EBITDA (X) 12.7238.8997.10-125.3716.84
MarketCap / Net Operating Revenue (X) 1.534.6210.849.092.92
Price / BV (X) 3.553.623.352.591.36
Price / Net Operating Revenue (X) 1.534.6210.849.092.92
EarningsYield 0.030.010.00-0.010.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Tejas Networks Ltd. is a Public Limited Listed company incorporated on 24/04/2000 and has its registered office in the State of Karnataka, India. Company's Corporate Identification Number(CIN) is L72900KA2000PLC026980 and registration number is 026980. Currently Company is involved in the business activities of Manufacture of communication equipment. Company's Total Operating Revenue is Rs. 8915.73 Cr. and Equity Capital is Rs. 179.59 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Telecom EquipmentPlot No. 25, JP Software Park, Electronic City Phase-1, Bengaluru Karnataka 560100Contact not found
Management
NamePosition Held
Mr. N Ganapathy SubramaniamNonExeChairman&NonInd.Director
Mr. Arnob RoyCOO & Executive Director
Mr. Alice G VaidyanInd. Non-Executive Director
Mr. P R RameshInd. Non-Executive Director
Prof. Bhaskar RamamurthiInd. Non-Executive Director

FAQ

What is the intrinsic value of Tejas Networks Ltd and is it undervalued?

As of 13 April 2026, Tejas Networks Ltd's intrinsic value is ₹239.94, which is 42.87% lower than the current market price of ₹420.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (12.8 %), book value (₹187), dividend yield (0.60 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Tejas Networks Ltd?

Tejas Networks Ltd is trading at ₹420.00 as of 13 April 2026, with a FY2026-2027 high of ₹914 and low of ₹294. The stock is currently near its 52-week low. Market cap stands at ₹7,466 Cr..

How does Tejas Networks Ltd's P/E ratio compare to its industry?

Tejas Networks Ltd has a P/E ratio of , which is below the industry average of 35.80. This is broadly in line with or below the industry average.

Is Tejas Networks Ltd financially healthy?

Key indicators for Tejas Networks Ltd: ROCE of 15.5 % indicates efficient capital utilization. Dividend yield is 0.60 %.

Is Tejas Networks Ltd profitable and how is the profit trend?

Tejas Networks Ltd reported a net profit of ₹447 Cr in Mar 2025 on revenue of ₹8,923 Cr. Compared to ₹-63 Cr in Mar 2022, the net profit shows an improving trend.

Does Tejas Networks Ltd pay dividends?

Tejas Networks Ltd has a dividend yield of 0.60 % at the current price of ₹420.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Tejas Networks Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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