Techno Electric Shares Surge 8%; Hit 52week High On Winning ₹1,750 Cr Order
Headquartered in Kolkata, Techno Electrical & Engineering is a leading engineering, procurement and construction (EPC) company in the power sector. With over 40 years of experience in the EPC industry, the company has completed 450 projects to date. TECHNO uses EPC services in all energy sectors for renewable energy projects, data centers, flue gas desulfurization and advanced metering system infrastructure projects.
During the July-September quarter of FY24, the company's total revenue grew 25.46 per cent to Rs 73.78 crore compared to Rs 58.81 crore in the same period last year. The company's total revenue for the quarter under review stood at Rs 462.29 crore as against Rs 185.79 crore in the same period last year.
In November this year, the company signed a non-binding memorandum of understanding (MOU) with Singapore-based Keppel Data Centers (India) Pvt. on the construction of a new data center in India.
Analysts at ICICI Securities said the company's strong order book position ensures that earnings will be visible in the next 24-30 months. “The company is placing an order for 250,000 smart meters worth around Rs 3 billion in Jammu and Kashmir. For L1 companies under the RDS scheme, the company has 27 months to implement all schemes having an L1 AMI. May be. This year is profitable. Of these orders, a small project worth INR 3 billion will be completed this year. Also this year the company should build another 250 thousand meters out of 2 million meters,” he said.
Earlier this month, rating agency ICRA assigned the company a 'stable' long-term outlook of AA and a short-term outlook of A1+.
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