The shares of one of India’s most important power infrastructure companies gained up to 10.08 percent after the company received new work orders worth Rs 4,063 crores for EPC work.
With a market capitalization of Rs 11,221.10 crore, the shares of Techno Electric & Engineering Company Ltd were trading at Rs 1,020 per share, increased around 5.25 percent as compared to the previous closing price of Rs 969.25 apiece.
According to the company filing, Techno Electric & Engineering Company Ltd. has received new work orders worth Rs 4,063 crores for EPC work from eight domestic clients, including Power Grid Corporation of India Ltd. (Rs 241 crore), Adani Transmission Ltd. (Rs 120 crore), REC Power Distribution Company Ltd. (Rs 1571 crore), IndiGrid Trust (Rs 904 crore), and others. This work order will be completed between 24-36 months.
Looking into Techno Electric & Engineering Company Ltd’s performance, revenue increased by 76 percent from Rs 185 Crore in Q3FY23 to Rs 327 Crore in Q3FY24. During the same time frame, net profit increased by 196 percent from Rs 31 crore to Rs 92 crore.
The stock has delivered multi-bagger returns of 105.15 percent in the last six months and 178.39 percent in a year. A shareholder’s investment of Rs. 1 lakh in the company would be worth Rs. 2.78 lakh in a year.
As of January 2024, the company had a total order book of Rs. 6,419 crores, which has a current order book of Rs 2,058 crore in the transmission segment, an order book of Rs. 1,361 crore in the FGD segment, Rs 1,600 crore of orders book in smart meter segment and Rs 1,400 crores of Data Center Project.
Moreover, the company is aiming to achieve an order book size of Rs 2,000 crores in the transmission segment over the next 5 years, Rs 1,000 crores every year in the FGD segment, Rs. 2,000 to 2,500 crores every year in smart meter orders and Techno envisages developing 250 MW of Data Centers with a capex of over USD 1.3 billion in the next 5-6 years.
Techno Electric & Engineering Company Ltd (TEECL) provides engineering, procurement, and construction (EPC), asset ownership, and operations and maintenance services in the power infrastructure business.
Written by:- Abhishek Singh
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