Tejas Networks hits upper circuit on order win from L&T construction
Tejas Networks Limited has bagged a purchase order from L&T Construction worth Rs 66 crore to supply its gigabyte passive optical network (GPON) based fibre-broadband products and high-performance metro ethernet switches for a prestigious Indian defence network project.
The company had received the order during the last quarter i.e. Q1FY21 while the first set of supplies have started this quarter i.e. Q2FY21.
The company has a good experience and is a trusted provider of defence communication equipment to tri-services. Earlier, it had supplied its dense wavelength division multiplexing (DWDM) and layer-3 multi-gigabit Ethernet switches for the Indian Navy network and its layer-2 gigabit Ethernet switches for the Indian Air Force network.
In the June quarter of FY21, the company’s order inflow was of Rs 188 crore. Its order book as on June 30, 2020, stood at Rs 593 crore. Of this, 35 per cent of the orders would be executable in the latter part of this year i.e. FY21. The management expects more business and orders to come up from existing customers in-home broadband on XPON, which is GPON and related technologies as well as for metro optical segment.
Larsen & Toubro (L&T) Construction is engaged in technology, engineering, construction, manufacturing and financial services with over USD 21 billion in revenue and operates in 30+ countries.
Tejas Networks designs, develops and sells high-performance and cost-competitive networking products to telecommunications service providers, internet service providers, utilities, defence and government entities in over 75 countries.
On Monday, the stock of Tejas Networks hit an upper circuit of 5 per cent at Rs 63.80 from its previous close of Rs 60.80 on BSE.