Corporate Actions
Tejas Networks' subsidiary bags order from NewSpace India

08-Dec-23   14:09 Hrs IST

NSIL is a wholly owned Government of India undertaking/Central Public Sector Enterprise (CPSE) and is under the administrative control of Department of Space.

Saankhya Labs, a subsidiary of Tejas Networks, is a technology company with a breadth of wireless communication system solutions. Saankhya offers a wide range of communication products for 5G NR, Broadcast and Satellite Communication applications.

The order is for supply, installation and commissioning of two-way MSS Terminals (Xponders) for vessel communication and support system in Marine Fishing Vessels for monitoring, control and surveillance (MCS) along the coastal states of India.

As part of this contract, Saankhya Labs in co-ordination with NSIL, ISRO and the Department of Fisheries shall deploy its indigenously designed and developed satellite terminals (Xponders) on motorized and mechanized fishing vessels.

Once commissioned, the network shall provide vessel communication and support system enhancing the safety and security for fishermen and would mitigate sea-borne threat concerns from national security perspective. The Xponders also enable navigational assistance, automatic boundary crossing alarm and emergency weather alerts to fishermen.

Parag Naik, CEO and co-founder of Saankhya Labs, said: ?We are delighted to win this prestigious contract from NSIL. Having operationalized a similar project for mechanized vessels in Tamil Nadu in partnership with ISRO earlier, we are fully geared up to support Government of India?s efforts to deploy this network across the coastal states of India.?

Tejas Networks is a wireline and wireless telecom and data networking products company that designs, develops and manufactures high-performance and future-ready products for building high-speed communication networks that carry voice, data and video traffic from fixed line, mobile and broadband networks.

The company reported consolidated net loss of Rs 12.64 crore in Q2 FY24 as compared with Rs 3.16 crore posted in corresponding quarter last year. Revenue from operations jumped 80.03% to Rs 395.95 crore in Q2 FY24 as compared with Rs 219.94 crore posted in Q2 FY23.

The scrip rose 0.24% to currently trade at Rs 834 on the BSE.

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