Headquartered in Kolkata, Techno Electric & Engineering is a leading engineering, procurement and construction (EPC) company in the power sector. With over 40 years of EPC experience, the company has completed 450 projects to date. Techno uses APC's services across the energy sector to develop renewable energy projects, data centers, flue gas desulfurization projects and advanced metering infrastructure projects.
During the July-September quarter of FY24, the company's total revenue increased by 25.46% to Rs 73.78 crore, compared to $58.81 million in the same period last year. During the quarter under review, the company's total revenue stood at Rs 462.29 crore, compared to 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 Centers (India) Private Limited for the development of a new data center campus in India.
Analysts at ICICI Securities said the company's strong order book position will provide revenue visibility over the next 24-30 months. “The company is executing an order of around Rs 3,000 crore for 250,000 smart meters in Jammu and Kashmir. Regarding the T1 activity of the RDS program, companies have 27 months to implement all projects that are T1 in AMI. This may be a small part of this order, but the INR 3 billion plan will be fully completed this year. "In addition, the company is expected to complete other works this year that cover 250,000 meters, totaling 2 million meters," said the researcher.
Earlier this month, rating agency ICRA gave the company an AA rating with a 'stable' outlook in the long term and A1+ in the short term.
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