Tejas Networks Limited is a professionally managed company. The company designs, develops and sells high-performance and cost-competitive networking products to telecommunications service providers, internet service providers, utility companies, defence companies and government entities in over 70 countries. Tejas products utilize programmable, software-defined hardware architecture with a common software code-base that delivers seamless upgrades of new features and technology standards. Tejas Networks is ranked among top-10 suppliers in the global optical aggregation segment and has filed over 349 patents. As on 31 March 2018, the Company has 4 subsidiaries, Tejas Communication Pte. Ltd (TCPL), Tejas Communications (Nigeria) Ltd (Subsidiary of TCPL), vSave Energy Private Ltd and Tejas (Israel) Ltd.
The Company`s engineering and management teams have diverse experience in optical communication systems, networking protocols, Field Programmable Gate Array (`FPGA`) design, embedded system software, application software, high-speed printed circuit board (`PCB`) design, thermal and mechanical design, product management, quality and test engineering and reliability engineering.
Tejas Networks Limited was originally incorporated as private limited company under the name `Tejas Networks India Private Limited` on April 24, 2000 at Bengaluru, Karnataka, India.
During the financial year ended 31 March 2001, the company procured order from TATA Power Company Limited. The Company was converted into a public limited company and its name was changed to Tejas Networks India Limited on October 23, 2002. During the financial year ended 31 March 2004, the company procured order from Railtel Corporation of India Limited through Electronics Corporation of India Limited.
During the financial year ended 31 March 2007, the company received Carrier Ethernet certification from Iometrix, certifying TJ100MC, operating at the user network interface, delivering Ethernet private line services compliant with the Metro Ethernet Forum MEF 9 technical qualification. During the year under review, the company procured order from Power Grid Corporation of India Limited.
During the financial year ended 31 March 2008, the company received ISO 9001:2008 and TL9000-H certification. The name of the company was changed to Tejas Networks Limited on March 18, 2008 to reflect the global outlook of the company.
During the financial year ended 31 March 2009, the company procured order from BSNL for supply of transmission equipment. During the financial year ended 31 March 2010, the company executed OEM contract with Ciena Corporation. During the financial year ended 31 March 2011, the company procured order from Bharti Airtel Limited for 3G rollout in multiple circles. During the financial year ended 31 March 2012, the company executed OEM contract with NEC.
During the financial year ended 31 March 2013, the company was recognized amongst the top five Indian applicants for patents in the field of information technology by the Office of the Controller General of Patents, Designs, Trademarks and Geographical Indication. During the year under review, the company procured order from Summit Communications Limited, Bangladesh.
During the financial year ended 31 March 2014, the company procured orders from West Indian Ocean Cable Company, Africa and SACOFA SDN BHD, Malaysia. During the financial year ended 31 March 2015, the company procured order from Bangladesh Telecommunications Company Limited under Optical Fiber Cable Network Development in 1,000 Union Parishad Project.
During the financial year ended 31 March 2016, the company procured order from Idea Cellular Limited. During the year under review, the company was recognized as a Two Star Export House by the Ministry of Commerce and Industry. During the year under review, the company received Carrier Ethernet 2.0 certification from Iometrix certifying TJ1400, TJ1400P and TJ1600. During the year under review, the company procured order for TJ1600 equipment for 100G upgrade from SACOFA SDN BHD.
During the financial year ended 31 March 2017, the company procured order for installation, commissioning and maintenance of GPON equipment for NOFN project.
Tejas Networks came out with an initial public offer (IPO) during the period from 14 to 16 June 2017. The IPO was a combination of fresh issue aggregating Rs 450 crore and Offer for Sale of 1.27 crore shares by the selling shareholders. The stock debuted at Rs 257 on BSE on 27 June 2017, matching the IPO price of Rs 257 per share.
On 21 July 2017, Tejas Networks informed the stock exchanges that the company is undergoing an investigation from the Income Tax Department and the company is fully co-operating for the same.
The Board of Directors of Tejas Networks at its meeting held on 25 October 2017 considered and approved the proposal for winding up/removing the name of vSave Energy Private Limited (wholly owned subsidiary of the company). The Board also approved the proposal for winding up of Tejas Israel Limited (wholly owned subsidiary of the company) under the laws of State of Israel. The Board also approved setting up of wholly-owned subsidiary/branch office in Mexico.
On 7 November 2017, Tejas Networks announced that it is displaying its latest innovations in the packet optical space at AfricaCom 2017.
On 9 January 2018, Tejas Networks announced that it has successfully completed GPON equipment installations in over 40,000 gram panchayats in India as part of the BharatNet Phase-1 project. BharatNet is an ambitious Government of India project to bring high-speed broadband connectivity to 2.5 lakh gram panchayats of the country.
On 27 March 2018, Tejas Networks announced that it has received a new purchase order of Rs 336 crore from BSNL for expansion of BharatNet, the world`s largest rural broadband project.
The Board of Directors of Tejas Networks Limited at its meeting held on 24 April 2018 reviewed and approved the Capital Allocation Policy of the Company after taking into consideration the strategic and operational cash requirements of the Company in the medium term. The Board has decided to distribute dividend upto 25% of the free cash flow of the corresponding Financial Year, subject to applicable laws and requisite approvals, if any. Free cash flow is defined as net cash provided by operating activities less capital expenditure as per the consolidated statement of cash flows prepared under IND-AS. Dividend payout includes Dividend Distribution Tax (DDT).
On 31 July 2018, Tejas Networks announced that ICOSNET, one of Algeria`s leading Internet Service Providers (ISP), has chosen Tejas` Converged Packet Optical (CPO) products to serve the growing demand for its high-speed Internet access and Virtual Private Network (VPN) offerings in the country. ICOSNET has deployed Tejas` TJ1400 converged broadband access and optical aggregation platform at multiple Points of Presence (POP) within Algeria as well as in its international exchanges in London and Madrid.
On 4 December 2018, Tejas Networks informed stock exchanges that its application for liquidation of its wholly-owned subsidiary Tejas Israel Ltd has been approved by the Registrar of Companies and Partnerships, Israel and liquidated according to Section 338 (c) of the Companies Ordinance (New Version) 5743- 1983 with effect from November 25, 2018.