Tejas Networks Eyes Global Deals To Boost Earnings In Second Half Of FY20
Tejas Networks is focusing on Southeast Asia, Africa, U.S. and Mexico, which represent $7-8 billion of capex per year, says CEO.
Tejas Networks Ltd. expects its earnings to recover in the second half of the ongoing financial year by focusing more on private-sector orders and tapping into under-penetrated international markets, according to its Managing Director and Chief Executive Officer Sanjay Nayak.
“We are focusing on Southeast Asia, Africa, the U.S. and Mexico which represent about $7-8 billion of capital expenditure per year for our kind of products,” Nayak told BloombergQuint in an interview. “We are working on six international deals in which we are commercially shortlisted and we need to only receive the order.”
The maker of optical and data networking products is planning to reduce dependence on government orders. The firm is eyeing to notch up its international business to 50 percent of total revenue in the medium term, Nayak said, adding that the company registered a 70 percent growth in its international business revenue last year and expects the same this year.
Tejas Networks Q2 Results 2019-20: Key Highlights (YoY)
- Revenue fell 58 percent to Rs 87 crore.
- Net loss of Rs 4.4 crore versus net profit of Rs 33.5 crore.
- Ebitda declined 86 percent to Rs 6.4 crore.
- Ebitda margin at 7.4 percent versus 21.5 percent.
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