Tejas Networks CEO, MD, chairman, board of directors and AGM
NSE: TEJASNETBSE: 540595Telecom - Equipment & AccessoriesSmall Cap
Share price at the NSE close on 23 Oct 2026. Previous close ₹423.90.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹7,256 Cr636th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit.
- Lossover the last 12 months
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 16 Oct 2026
- 2.9
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it. The filing of 16 Oct 2026
- −27.9%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 16 Oct 2026
- −11.6%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Sep 2026. The filing of 16 Oct 2026
- 1.91
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 11,98,57528.3% delivered
Tejas Networks board of directors
At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares
- Managing director and CEOARNOB ROY
- ChairpersonGANAPATHY SUBRAMANIAM NATARAJAN
- Company Secretary and Compliance OfficerAnantha Murthy N
6 directors3 independent1 executive2 non-executive
- ARNOB ROY · Managing director and CEOExecutive · joined Mar 2019 · 1 listed board · 1 committee seat
- GANAPATHY SUBRAMANIAM NATARAJAN · ChairpersonNon-executive · joined Jan 2022 · 3 listed boards · 1 committee seat, 1 as chair
- RAMAMURTHI BHASKARIndependent · joined Jun 2022 · 48 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
- SRIKUMAR VIJAYASEKHARANIndependent · joined Apr 2026 · 2 months as independent · 2 listed boards · 2 as independent · 4 committee seats
- ALICE GEEVARGHESE VAIDYANIndependent · joined Mar 2023 · 39 months as independent · 3 listed boards · 3 as independent · 8 committee seats, 2 as chair
- RANDHIR THAKURNon-executive · joined Sep 2025 · 1 listed board · 1 committee seat
An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.
2 directors who left
- PRATHIVADIBHAYANKARA RAJAGOPALAN RAMESH, left 18 Apr 2026: Others
- Anand S Athreya, left 20 Jun 2025: Others
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 15 Apr 20266 of 6 present3 independent · 36 days in between
- 9 Mar 20266 of 6 present3 independent · 58 days in between
- 9 Jan 20266 of 6 present3 independent
Audit Committee
Chair ALICE GEEVARGHESE VAIDYAN
SRIKUMAR VIJAYASEKHARAN, RAMAMURTHI BHASKAR, RANDHIR THAKUR
- 15 Apr 20264 of 4 present3 independent · 95 days in between
- 9 Jan 20264 of 4 present3 independent
Nomination and remuneration committee
Chair RAMAMURTHI BHASKAR
GANAPATHY SUBRAMANIAM NATARAJAN, SRIKUMAR VIJAYASEKHARAN
- 15 Apr 20263 of 3 present2 independent
Stakeholders Relationship Committee
Chair RAMAMURTHI BHASKAR
ALICE GEEVARGHESE VAIDYAN, ARNOB ROY
- 9 Apr 20263 of 3 present2 independent · 91 days in between
- 7 Jan 20263 of 3 present2 independent
Risk Management Committee
Chair SRIKUMAR VIJAYASEKHARAN
RAMAMURTHI BHASKAR, ALICE GEEVARGHESE VAIDYAN
- 9 Apr 20263 of 3 present3 independent · 91 days in between
- 7 Jan 20263 of 3 present3 independent
Corporate Social Responsibility Committee
Chair ALICE GEEVARGHESE VAIDYAN
RAMAMURTHI BHASKAR, ARNOB ROY
- 9 Apr 20263 of 3 present2 independent · 91 days in between
- 7 Jan 20263 of 3 present2 independent
Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.
Statutory auditor
Named in the results for the quarter to Sep 2026.
- Price Waterhouse Chartered Accountants LLPPeer-review certificate valid to Nov 2026
A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.
Tejas Networks AGM and shareholder votes
Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Tejas Networks dividend history
Annual general meeting, 26 Jun 2026
3,58,328 shareholders on the register on 19 Jun 2026; present: 1 promoter and 104 others; votes counted by V. Sreedharan / V. Sreedharan & Associates.The company's voting result (opens in a new tab)
- Adoption of Audited Standalone Financial StatementsOrdinary99.82% for0.18% against
Against: promoters 0.00% · institutions 1.49% · other public 0.01%
Turnout: all 63.55% · promoters 100.00% · institutions 79.67% · other public 6.63%
- Adoption of Audited Consolidated Financial StatementsOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 63.55% · promoters 100.00% · institutions 79.67% · other public 6.63%
- Appointment of Arnob Roy (DIN: 03176672) as a Director of the Company, liable to retire by rotation.Ordinary99.86% for0.14% against
Against: promoters 0.00% · institutions 1.12% · other public 0.21%
Turnout: all 63.36% · promoters 100.00% · institutions 79.69% · other public 6.11%
- Appointment of Srikumar Vijayasekharan (DIN: 07810464), as a director and as an Independent Director.Special99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.31%
Turnout: all 63.54% · promoters 100.00% · institutions 79.69% · other public 6.61%
- Appointment of Arnob Roy (DIN: 03176672), as the Managing Director & Chief Executive Officer.Special96.55% for3.45% against
Against: promoters 0.00% · institutions 27.99% · other public 0.79%
Turnout: all 63.36% · promoters 100.00% · institutions 79.69% · other public 6.11%
- To approve material Related Party Transactions with Tata Consultancy Services Limited (TCS)OrdinaryPromoters have an interest in it99.96% for0.04% against
Against: promoters 0.00% · institutions 0.00% · other public 0.15%
Turnout: all 10.19% · promoters 0.00% · institutions 79.69% · other public 6.63%
- To approve the material Related Party Transactions with Tata Semiconductor Assembly and Test Private Limited (TSAT)OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 10.19% · promoters 0.00% · institutions 79.69% · other public 6.63%
- Ratification of Remuneration of Cost AuditorsOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.06%
Turnout: all 63.55% · promoters 100.00% · institutions 79.69% · other public 6.63%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 22 Nov 2025, 1 resolution
3,54,227 shareholders on the register on 17 Oct 2025; votes counted by Pradeep B. Kulkarni / V. Sreedharan & Associates.The company's voting result (opens in a new tab)
- APPOINTMENT OF DR. RANDHIR THAKUR (DIN: 09154242) AS A DIRECTOR (NON-EXECUTIVE, NON-INDEPENDENT) OF THE COMPANYOrdinary99.91% for0.09% against
Against: promoters 0.00% · institutions 0.53% · other public 1.82%
Turnout: all 63.73% · promoters 100.00% · institutions 88.71% · other public 0.52%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 27 Jun 2025, 7 resolutions
3,53,896 shareholders on the register on 20 Jun 2025; present: 1 promoter and 80 others; votes counted by Chennur Dwarakanath / CS Dwarakanath C.The company's voting result (opens in a new tab)
- Adoption of Audited Standalone Financial StatementsOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 65.97% · promoters 100.00% · institutions 91.10% · other public 6.82%
- Adoption of Audited Consolidated Financial StatementsOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 65.96% · promoters 100.00% · institutions 91.10% · other public 6.81%
- Declaration of DividendOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 65.96% · promoters 100.00% · institutions 91.10% · other public 6.81%
- Appointment of N Ganapathy Subramaniam (DIN:07006215) as a Director (liable to retire by rotation) of the CompanyOrdinary99.82% for0.18% against
Against: promoters 0.00% · institutions 1.20% · other public 0.05%
Turnout: all 65.96% · promoters 100.00% · institutions 91.10% · other public 6.81%
- Appointment of Ms. V Sreedharan and Associates, Company Secretaries, (Firm Registration No. P1985KR14800) as Secretarial Auditor of the CompanyOrdinary99.42% for0.58% against
Against: promoters 0.00% · institutions 3.89% · other public 0.05%
Turnout: all 65.96% · promoters 100.00% · institutions 91.10% · other public 6.81%
- To approve existing as well as new material related party transactions with Tata Consultancy Services LimitedOrdinaryPromoters have an interest in it99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 12.23% · promoters 0.00% · institutions 91.10% · other public 6.81%
- Ratification of the Remuneration of Cost AuditorsOrdinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.15%
Turnout: all 65.96% · promoters 100.00% · institutions 91.10% · other public 6.81%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 25 Nov 2024, 1 resolution
The company's voting result (opens in a new tab)
- Approve entering into Material Related Party Transactions with Tata AutoComp Systems Limited, a related party of the Company.Ordinary97.20% for2.80% against
Against: promoters 0.00% · institutions 4.09% · other public 0.01%
Turnout: all 14.78% · promoters 0.00% · institutions 71.32% · other public 15.41%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 28 Jun 2024, 7 resolutions
Present: 1 promoter and 82 others.The company's voting result (opens in a new tab)
- Adoption of Audited Standalone Financial StatementsOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 71.18% · promoters 100.00% · institutions 82.84% · other public 10.45%
- Adoption of Audited Consolidated Financial StatementsOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 71.18% · promoters 100.00% · institutions 82.84% · other public 10.44%
- Appointment of Arnob Roy (DIN: 03176672) as a Director (liable to retire by rotation) of the CompanyOrdinary99.96% for0.04% against
Against: promoters 0.00% · institutions 0.22% · other public 0.01%
Turnout: all 71.18% · promoters 100.00% · institutions 82.84% · other public 10.44%
- To approve existing as well as new material related party transactions with Tata Consultancy Services LimitedOrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 15.64% · promoters 0.00% · institutions 82.84% · other public 10.45%
- Approve the increase in Borrowings in excess of paid-up capital and free reservesSpecial99.51% for0.49% against
Against: promoters 0.00% · institutions 2.62% · other public 0.67%
Turnout: all 71.18% · promoters 100.00% · institutions 82.84% · other public 10.44%
- Creation of Charges on the movable and immovable properties of the Company, both present and future, in respect of borrowingsSpecial99.52% for0.48% against
Against: promoters 0.00% · institutions 2.55% · other public 0.64%
Turnout: all 71.17% · promoters 100.00% · institutions 82.78% · other public 10.44%
- Ratification of the Remuneration of Cost AuditorsOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 71.18% · promoters 100.00% · institutions 82.84% · other public 10.44%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 24 Mar 2024, 1 resolution
The company's voting result (opens in a new tab)
- Re-appointment of Arnob Roy (DIN: 03176672) as Whole-time Director and designated as Executive Director and Chief Operating Officer and payment of remuneration thereofSpecial95.04% for4.96% against
Against: promoters 0.00% · institutions 33.96% · other public 0.97%
Turnout: all 65.86% · promoters 100.00% · institutions 60.97% · other public 1.79%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Meeting called by the tribunal, 9 Feb 2024, 1 resolution
Present: 1 promoter and 37 others.The company's voting result (opens in a new tab)
Scheme of Amalgamation of Saankhya Labs Private Limited (“Transferor Company 1”) andnSaankhya Strategic Electronics Private Limited (“Transferor Company 2”) (Collectivelynreferred as “Transferor Companies”) with Tejas Networks Limited (“Company” or “TransfereenCompany”) and their respective shareholders (“Scheme”)MoreLess
Special99.96% for0.04% againstAgainst: promoters 0.00% · institutions 0.26% · other public 0.01%
Turnout: all 71.48% · promoters 100.00% · institutions 64.54% · other public 19.59%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 20 Jun 2023, 10 resolutions
Present: 1 promoter and 79 others.The company's voting result (opens in a new tab)
- Adoption of Audited Standalone Financial StatementsOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 68.08% · promoters 100.00% · institutions 58.52% · other public 11.43%
- Adoption of Audited Consolidated Financial StatementsOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 68.08% · promoters 100.00% · institutions 58.52% · other public 11.42%
- Appointment of N. Ganapathy Subramaniam (DIN: 07006215) as a Director (liable to retire by rotation) of the CompanyOrdinary99.89% for0.11% against
Against: promoters 0.00% · institutions 0.84% · other public 0.01%
Turnout: all 68.08% · promoters 100.00% · institutions 58.52% · other public 11.42%
- Appointment of Alice G Vaidyan (DIN: 07394437) as a Non-Executive, Independent Director of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 68.08% · promoters 100.00% · institutions 58.52% · other public 11.42%
- Appointment of Anand S Athreya (DIN:10118880) as a Director of the CompanyOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.03% · other public 0.00%
Turnout: all 68.08% · promoters 100.00% · institutions 58.52% · other public 11.42%
Appointment of Anand S Athreya (DIN:10118880) as Executive Director (Managing Director and CEO Designate) from April 21, 2023 to June 20, 2023 and as Managing Director and CEO from June 21, 2023 till April 20, 2028MoreLess
Special95.83% for4.17% againstAgainst: promoters 0.00% · institutions 32.65% · other public 0.00%
Turnout: all 68.08% · promoters 100.00% · institutions 58.52% · other public 11.42%
- Material Related Party Transaction(s) with Tata Communications Limited, a related party of the CompanyOrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 12.01% · promoters 0.00% · institutions 58.52% · other public 11.42%
- Material Related Party Transaction(s) with Tata Consultancy Services Limited, a related party of the CompanyOrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 12.01% · promoters 0.00% · institutions 58.52% · other public 11.42%
- Ratification of the Remuneration of Cost Auditors for the Financial Year 2023-2024Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 68.08% · promoters 100.00% · institutions 58.52% · other public 11.42%
- Appointment of Branch Auditor(s)Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 68.08% · promoters 100.00% · institutions 58.51% · other public 11.42%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
How mutual funds voted
Fund houses must disclose how they vote at every meeting of a company they hold.Funds that hold it
Mutual fund votes, meeting of 26 Jun 2026, 16 fund houses
- Adoption of Audited Standalone Financial Statements16 for0 against
- Adoption of Audited Consolidated Financial Statements16 for0 against
- Appointment of Arnob Roy (DIN: 03176672) as a Director of the Company, liable to retire by rotation.16 for0 against
- Appointment of Srikumar Vijayasekharan (DIN: 07810464), as a director and as an Independent Director.16 for0 against
- Appointment of Arnob Roy (DIN: 03176672), as the Managing Director & Chief Executive Officer.
Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual Fund
- Angel One Mutual FundGovernance and Transparency concern: No cap on the stock-linked compensation. Stock linked compensation does not appears to be linked with Company’s performance.
- Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the profile and merit of proposed appointee. Governance and Transparency concern: No cap on the stock-linked compensation. Stock linked compensation does not appears to be linked with Company’s performance.
- Kotak Mahindra Mutual FundArnob Roy received a remuneration of Rs. 47.8 mn as an Executive Director, which includes the fair value of RSUs granted. The company now proposes to appoint him as MD and CEO from 15 April 2026 to 3 August 2028. Company has not given any performance criteria for the appointee and no cap has been placed on the variable pay. We do not support the open payment structure. Hence, we do not favour the resolution.
- Motilal Oswal Mutual FundNo cap on the stock-linked compensation. Stock-linked compensation does not appear to be linked with the Company’s performance.
8 for8 against - To approve material Related Party Transactions with Tata Consultancy Services Limited (TCS)16 for0 against
- To approve the material Related Party Transactions with Tata Semiconductor Assembly and Test Private Limited (TSAT)16 for0 against
- Ratification of Remuneration of Cost Auditors16 for0 against
Mutual fund votes, meeting of 22 Nov 2025, 15 fund houses
- APPOINTMENT OF DR. RANDHIR THAKUR (DIN: 09154242) AS A DIRECTOR (NON-EXECUTIVE, NON-INDEPENDENT) OF THE COMPANY15 for0 against
6 earlier meetings
Mutual fund votes, meeting of 27 Jun 2025, 17 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
- Adoption of Audited Standalone Financial Statements17 for0 against
- Adoption of Audited Consolidated Financial Statements16 for0 against
- Declaration of Dividend16 for0 against
- Appointment of N Ganapathy Subramaniam (DIN:07006215) as a Director (liable to retire by rotation) of the Company16 for0 against
- Appointment of Ms. V Sreedharan and Associates, Company Secretaries, (Firm Registration No. P1985KR14800) as Secretarial Auditor of the Company
Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund
- Angel One Mutual FundTransparency Concern: Previous auditor remuneration has not been disclosed and not addressed if there is any Material Change in the Audit Fee.
- Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundAppointment compliant with law. Transparency Concern: Previous auditor remuneration has not been disclosed and not addressed if there is any Material Change in the Audit Fee.
10 for6 against - To approve existing as well as new material related party transactions with Tata Consultancy Services Limited17 for0 against
- Ratification of the Remuneration of Cost Auditors17 for0 against
4 proposals not matched to one resolution
- Item 2, as a fund house numbered it1 for0 against
- Item 3, as a fund house numbered it1 for0 against
- Item 4, as a fund house numbered it1 for0 against
- Item 5, as a fund house numbered it1 for0 against
Mutual fund votes, meeting of 25 Nov 2024, 17 fund houses
- Approve entering into Material Related Party Transactions with Tata AutoComp Systems Limited, a related party of the Company.
Against Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. Governance Concern: Basis for Arm’s Length pricing not adequately disclosed. Transparency concern: No clarity with regard to whether approval of shareholders is sought prior to the materiality limit of RPT as is stipulated in SEBI LODR Regulations getting breached. No specific reasoning for significant shift between values of previous year RPTs as against the proposed RPT limit.
- Edelweiss Mutual FundCompliant with Law. Governance Concern: Basis for Arm’s Length pricing not adequately disclosed. Transparency concern: No clarity with regard to whether approval of shareholders is sought prior to the materiality limit of RPT as is stipulated in SEBI LODR
- Kotak Mahindra Mutual FundThe company has not made disclosure upon the methodologies adopted by the Company towards arriving at the proposed pricing. Information regarding the methodologies will enable the shareholders to understand whether the pricing has been determined in a fair, objective and independent manner. The company should seek an external and independent opinion on pricing would be a good transparency measure. Disclosure of basis of arm s length pricing will enable the shareholders to understand that the pricing has been determined in a transparent manner. Hence voting against.
12 for5 against
Mutual fund votes, meeting of 28 Jun 2024, 16 fund houses
- Adoption of Audited Standalone Financial Statements16 for0 against
- Adoption of Audited Consolidated Financial Statements16 for0 against
- Appointment of Arnob Roy (DIN: 03176672) as a Director (liable to retire by rotation) of the Company16 for0 against
- To approve existing as well as new material related party transactions with Tata Consultancy Services Limited16 for0 against
- Approve the increase in Borrowings in excess of paid-up capital and free reserves16 for0 against
- Creation of Charges on the movable and immovable properties of the Company, both present and future, in respect of borrowings16 for0 against
- Ratification of the Remuneration of Cost Auditors16 for0 against
Mutual fund votes, meeting of 24 Mar 2024, 13 fund houses
- Re-appointment of Arnob Roy (DIN: 03176672) as Whole-time Director and designated as Executive Director and Chief Operating Officer and payment of remuneration thereof13 for0 against
Mutual fund votes, meeting of 9 Feb 2024, 13 fund houses
Scheme of Amalgamation of Saankhya Labs Private Limited (“Transferor Company 1”) andnSaankhya Strategic Electronics Private Limited (“Transferor Company 2”) (Collectivelynreferred as “Transferor Companies”) with Tejas Networks Limited (“Company” or “TransfereenCompany”) and their respective shareholders (“Scheme”)MoreLess
Against Bandhan Mutual Fund, Groww Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. Transparency Concern: Lack of clarity regarding the reason behind opting for staggered acquisition.
- Kotak Mahindra Mutual FundThe company has not clarified the reason for staggered acquisition and for the higher purchase consideration for the balance 35.6% stake. The per share price being paid is about 843.8 per share based on the closing price of 5th feb, 2024. There is lack of clarity about the staggered nature of the transaction and the higher consideration for the balance stake. Hence voting against .
9 for4 against
Mutual fund votes, meeting of 20 Jun 2023, 6 fund houses
- Adoption of Audited Standalone Financial Statements6 for0 against
- Adoption of Audited Consolidated Financial Statements6 for0 against
- Appointment of N. Ganapathy Subramaniam (DIN: 07006215) as a Director (liable to retire by rotation) of the Company6 for0 against
- Appointment of Alice G Vaidyan (DIN: 07394437) as a Non-Executive, Independent Director of the Company6 for0 against
- Appointment of Anand S Athreya (DIN:10118880) as a Director of the Company6 for0 against
Appointment of Anand S Athreya (DIN:10118880) as Executive Director (Managing Director and CEO Designate) from April 21, 2023 to June 20, 2023 and as Managing Director and CEO from June 21, 2023 till April 20, 2028MoreLess
Against SBI Mutual Fund
- SBI Mutual FundWe estimate Anand S Athreya’s FY24 remuneration at Rs. 302.5 mn including one-time compensation aggregating to Rs. 152.5 mn. We recognize that the company is undergoing a significant growth in operations which is supported by the Tata Group companies (see resolutions# 7 and #8). However, his estimated remuneration is higher than peers and not commensurate with the size and scale of the business. We raise concerns about the remuneration structure – we do not support the issuance of stock options at a significant discount to the market price to senior executives. While the company has stated that variable pay will be based on the company’s operating plans and key performance indicators, it has not disclosed granular details for the same. Further, the company proposes to pay additional one-time compensation based on the stock price performance of the RSU grants at the end of the fourth year from the date of grant: we do not support repricing of options once granted. Further, RSU grants must be linked to company’s operating performance instead of stock price performance.
5 for1 against- Material Related Party Transaction(s) with Tata Communications Limited, a related party of the Company6 for0 against
- Material Related Party Transaction(s) with Tata Consultancy Services Limited, a related party of the Company6 for0 against
- Ratification of the Remuneration of Cost Auditors for the Financial Year 2023-20246 for0 against
- Appointment of Branch Auditor(s)6 for0 against
Each fund house counted once, from its own disclosure; the reasons are its own words.
Tax disputes
Reported in the filing for the quarter to Jun 2026.
- Tax disputeDepartment of Central Excise and Service taxSince 24 Sep 2018There has been no further development in the matter during the quarter April - June 2026. However, the matter was listed in Supreme Court on 8.07.2026 but not heard and adjourned.
At the filing before: The Excise Department had issued an order directing the inclusion of software value in hardware for the purpose of calculating excise duty, resulting in a demand of Rs. 42.93 crores. Tejas Networks had challenged this order by filing an appeal before the Honorable CESTAT, Chennai. Subsequently, Civil Appeal No. 011078 was filed before the Honorable Supreme Court (SC) during September 2018, and the same is currently pending. The case has been listed for hearing via video conferencing. The Advocate-on-Record has been informed to request a physical hearing. No further updates have been received from the Supreme Court at this time. Separately, the Department had filed an application for early hearing before the CESTAT, which was disallowed on 22nd October 2021.MoreLess
- Tax disputePrincipal Commissioner of Customs , ACC, BangaloreSince 15 Apr 2025There has been no further development in the matter during the quarter April - June 2026
At the filing before: A writ petition No.11707/2025 was filed by the Company on 15th April 2025 before the Honorable High Court of Karnataka, challenging the Order-in-Original No. 582/2024-25 AP and ACC dated 13.01.2025. The Honorable High Court has on 21st April 2025, granted an interim stay against the the order of Commissioner of Customs.MoreLess
In the company's own words, from its latest governance filing.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
- The board is made up as the listing rules require
- Yes
- The board has a regular chairperson
- Yes
- The company has a risk management committee
- Yes
- The chair is related to the managing director
- No
- The filing has a part on fines and penalties
- No
- The filing has a part on tax disputes
- Yes
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.