Techno Electric stock jumps up to 4% after it bags an order worth ₹ 1750 Cr – Trade Brains
Shares of this small-cap company jumped by 4 percent in Friday’s trading session after receiving an order worth Rs.1750 crores. The shares delivered a multibagger return of 137 percent to its investors on a YTD basis.
With a market capitalisation of Rs. 8,693 crores, the shares of Techno Electric and Engineering Company Ltd started Friday’s trading session on a higher note at Rs. 812. The share hit a high of Rs. 844.50, gaining by 4 percent, which is also recorded as the company’s fresh 52-week high.
Such a bullish movement in the share price was observed after the company in an exchange announced that they had received a transmission order of Rs 709 crores, including a 765kV AIS Package (Substation) for Neemrana-II from Sterlite worth Rs 199 crore and 765kV AIS Substation Package for establishment of 765,400 kV, 2×1500 MVA at Sikar from PGCIL worth Rs 223 crore. It also includes a substation package for 765/400 kV Dausa and an extension of 765 kV Beawar from PGCIL worth Rs 288 crore.
Furthermore, the company received an order of Rs 1,041 crores under the Advance Metering Infrastructure (AMI) segment from RECPDCL for 7.27 Lakh Smart Meters in Kashmir on a DBFOOT basis.
Digging into the company’s financial statement, the revenue zoomed by 69 percent from Rs. 274 crores in the June quarter to Rs. 462 crores during the September quarter. In addition, the net profits magnified from Rs. 25 crores to Rs. 74 crores during the same timeframe.
As of June 2023, the company had a total order book of Rs. 3,824 crores, in which they have a current order book of Rs 1,572 crores in the transmission segment, an order book of Rs. 1,417 crores in the FGD segment, Rs 257 crores 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 3,000 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 they are targeting to achieve Rs 11,250 crores over the next 7 years in data centre project.
Headquartered in Kanpur, Techno Electric and Engineering was incorporated in 2005. The company is engaged in providing Engineering, Procurement and Construction (EPC), asset ownership and operations and maintenance services in the power infrastructure industry.
Written By Vaibhav Patil
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