Tata Group telecom major receives PLI incentives worth ₹123.4 crore for FY24, stock sheds 44% YTD: Buy or sell? | Stock Market News

Tejas Networks has received ₹123.45 crore as incentive for FY24 under PLI Scheme for telecom and networking products. The Tata-Group backed company reported a six-times jump in consolidated revenue from operations at ₹2,811 crore in Q2FY25 compared to ₹396 crore during the same period last year.

In the September quarter, Tejas Networks’ revenue mix was primarily driven by India’s private sector contributions, accounting for 93% of total revenue, a significant 13.7x YoY growth, largely due to BSNL 4G-related shipments to TCS. In contrast, the India-government segment contributed 4%, reflecting a 5% YoY decline, while international revenues comprised 3%, marking a 3% YoY decline, mainly from key shipments to Africa and South Asia.

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