Tejas Networks At A Crossroads: Can Tata’s Telecom Bet Break Free From BSNL?

Tejas Networks, once celebrated for powering BSNL’s massive 4G rollout, is now grappling with stalled earnings. The Bengaluru-based firm’s reliance on BSNL has left it vulnerable to delays, raising questions about its ability to diversify and sustain growth in a competitive global telecom market.  

Revenue Surge Meets Inventory Pile  
Tejas crossed the billion-dollar revenue milestone in FY25, but FY26 has brought challenges. The company is stuck with ₹2,363 crore worth of inventory, largely tied to BSNL’s pending orders. This mismatch between production and demand has strained cash flows and investor confidence.  

BSNL Dependency And Delayed Orders  
BSNL’s ₹1,526 crore “add-on” order for nearly 19,000 sites remains in limbo, leaving Tejas exposed. While the Tata Group’s backing provides stability, the firm’s dependence on a single state-run anchor customer highlights structural risks.  

Global And Private Market Pivot  
Industry watchers argue that Tejas must aggressively pursue private telcos and international markets to offset BSNL’s delays. Its proven expertise in wireline and wireless solutions positions it well, but execution will determine whether it can evolve into a true global telecom OEM.  

Key Highlights  

• Tejas Networks hit $1 billion revenue in FY25  
• ₹2,363 crore inventory stuck due to BSNL delays  
• Waiting for ₹1,526 crore BSNL add-on order  
• Tata Group ownership since 2021 provides backing  
• Future growth depends on private and global telco expansion  

Sources: The Indian Express, Mint