Techno Electric Shares Surge 8%; Hit 52week High On Winning ₹1,750 Cr Order
Headquartered in Kolkata, Techno Electric & Engineering is a leading Engineering, Procurement and Construction (EPC) company in the power sector. With more than 40 years of EPC experience, the company has completed 450 projects so far. Techno utilizes EPC services across the energy sector, including renewable energy projects, data centers, flue gas treatment projects and advanced metering infrastructure projects.
The company's total revenue rose 25.46 percent to Rs 73.78 crore in the period from July to September 24. 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 with Singapore-based Keppel Data Center (India) Private Limited to set up a data center campus in India.
Analysts at ICCI Securities said the company's order book provides revenue visibility over the next 24-30 months. “The company is placing an order worth around INR 3 billion for 250,000 smart meters in Jammu and Kashmir. As for L1 activities under the RDS program, the company has 27 months to implement all L1 projects in AMI. This year. Although orders are small, the 3,000 crore plan will be fully implemented this year. In addition, the company is expected to be able to complete another 250,000 meters of the total 2 million meters this year, he said.
Earlier this month, rating agency ICRA gave the company a 'stable' long-term outlook and A1+ short-term outlook.
(Disclaimer: Opinions expressed by fortuneindia.com's investment experts or their companies do not necessarily reflect those of fortuneindia.com and its editorial staff. Readers are advised to consult qualified professionals before making any investment decisions.)
