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2 min read | Updated on April 29, 2024, 16:29 IST
SUMMARY
Techno Electric said it received orders worth ₹241 crore from Power Grid Corporation, ₹120 crore from Adani Transmission, ₹760 crore from Millenium Challenge Account (MCA), Nepal, ₹904 crore from IndiGrid Trust, ₹291 crore from Damodar Valley Corporation (DVC) and ₹1,571 crore from REC Power Distribution Company.
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Techno Electric & Engineering Company rises 5% on order wins worth ₹4,063 crore
Techno Electric said it received orders worth ₹241 crore from Power Grid Corporation, ₹120 crore from Adani Transmission, ₹760 crore from Millenium Challenge Account (MCA), Nepal, ₹904 crore from IndiGrid Trust, ₹291 crore from Damodar Valley Corporation (DVC) and ₹1,571 crore from REC Power Distribution Company.
Power Grid’s order pertains to the establishment/execution of a 765 kilovolts (kV) substation package for the solar energy zone in Bidar while Adani Transmission’s order pertains to the establishment/execution of a 765 kV substation package at Halvad, Gujarat.
Techno Electric said the orders have to be executed within 24 to 36 months.
During the third quarter, the company’s revenues almost doubled to ₹365.7 crore. Earnings before interest, tax, depreciation and amortisation rose 92% to ₹44.9 crore. EBITDA margin fell to 12.29% compared to 12.63% in the same period of the previous fiscal. Net profit from continuing operations rose 148% to ₹77.6 crore. Interest cost rose 142% to ₹3.95 crore during the quarter.
For the nine months ending in December 2023, the company reported a 132% rise in its revenues at ₹1,198.2 crore. EBITDA rose 111% to ₹168 crore while EBITDA margin fell to 14.03% from 15.42% in the same period a year ago. Net profit from continuing operations rose 123% to ₹202.9 crore. Interest cost rose 177% to ₹12.2 crore.
Techno Electric is a power-infrastructure company that specialises in engineering, procurement, and construction (EPC), asset ownership, operations, and maintenance services. The company has expertise across the three key industry segments of power generation, transmission, and distribution. Its portfolio comprises over 400 projects in India and overseas.
Shares of the company have gained over 25% since the beginning of the year. The stock has risen over 178% in the last one year.
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