Stock Performance and Market Context
On 23 Jan 2026, Tejas Networks Ltd’s share price declined by 2.54% during the trading day, underperforming its sector by 1.31%. The stock hit an intraday low of Rs.314.6, which represents its lowest level in the past 52 weeks. This marks a sharp contrast to its 52-week high of Rs.1,125, underscoring a steep depreciation of approximately 72% over the year.
The stock’s performance over the last 11 trading days has been notably weak, with a cumulative return of -29.83%. Furthermore, Tejas Networks is currently trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling persistent bearish momentum.
In comparison, the broader market benchmark, the Sensex, has shown relative resilience. Despite a slight dip of 0.12% on the same day, the Sensex remains only 4.8% below its 52-week high of 86,159.02 and trades above its 200-day moving average, although below its 50-day average. Over the past year, the Sensex has delivered a positive return of 7.44%, highlighting the divergence in performance between the index and Tejas Networks.
Financial Metrics and Fundamental Assessment
Tejas Networks’ financial results have contributed to the stock’s decline. The company reported a sharp fall in net sales by 88.39% in the quarter ending December 2025, with net sales amounting to Rs.306.79 crores. This steep contraction in revenue has been accompanied by significant losses at the profit before tax (PBT) level, which stood at a negative Rs.310.41 crores, a deterioration of 257.15% compared to the previous period.
Net profit after tax (PAT) also reflected a substantial loss of Rs.196.55 crores, down 218.6%. These figures mark the second consecutive quarter of negative results for the company, indicating ongoing financial strain.
The company’s ability to generate returns has been limited, with an average return on equity (ROE) of just 2.99%, signalling low profitability relative to shareholders’ funds. Additionally, the debt servicing capacity remains a concern, with a high debt-to-EBITDA ratio of 12.63 times, indicating elevated leverage and potential challenges in meeting financial obligations.
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Valuation and Risk Considerations
The stock’s valuation metrics reflect heightened risk. Over the past year, Tejas Networks has generated a return of -71.31%, while profits have declined by 215.7%. The company’s EBITDA remains negative, which adds to the risk profile and indicates that earnings before interest, taxes, depreciation, and amortisation have not been sufficient to cover operating costs.
In terms of market grading, the company holds a Mojo Score of 1.0 with a Mojo Grade of Strong Sell, an upgrade from a previous Sell rating on 20 Oct 2025. The Market Cap Grade stands at 3, reflecting its small-cap status within the telecom equipment and accessories sector.
Tejas Networks’ underperformance is also evident in longer-term comparisons. The stock has lagged behind the BSE500 index over the last three years, one year, and three months, indicating persistent challenges in delivering shareholder value relative to broader market indices.
Shareholding and Sectoral Context
The majority shareholding remains with the company’s promoters, who continue to hold a controlling stake. The telecom equipment and accessories sector has experienced mixed performance, with some companies showing resilience while others face headwinds due to competitive pressures and market dynamics.
Despite the broader sector’s fluctuations, Tejas Networks’ share price has notably diverged downward, reflecting company-specific financial results and valuation concerns.
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Summary of Key Metrics
To summarise, Tejas Networks Ltd’s stock has reached a new 52-week low of Rs.314.6, reflecting a sustained downtrend over recent months. The company’s financial results have shown significant declines in sales and profitability, with net sales falling by 88.39% and net losses deepening substantially. The stock’s valuation and leverage ratios indicate elevated risk, while its performance relative to market benchmarks has been markedly weaker.
Trading below all major moving averages and with a Mojo Grade of Strong Sell, the stock remains under pressure amid challenging financial conditions and sectoral headwinds.
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