Techno Electric & Engineering Company (TECHNOE) Q2 24/25 earnings summary

Executive summary

• H1 FY25 revenue reached INR 914 crore, EBITDA at INR 126.13 crore, and PAT at INR 145 crore, up 16.5% YoY; EPS rose 50% to 17.16.

• Q2 FY25 and H1 FY25 delivered strong financial performance, with robust order book and ongoing execution in power, transmission, and data center segments.

• Maintains a debt-free status, high credit rating, and significant market presence in India's power sector.

• Unaudited standalone and consolidated financial results for Q2 and H1 FY25 were approved and reviewed by the Board and auditors, with unmodified review reports.

• Successfully completed a QIP of INR 1,250 crore in H1 FY25, boosting cash and investments to INR 2,600 crore.

Financial highlights

• H1 FY25 revenue: INR 914 crore; EBITDA: INR 126.13 crore; PAT: INR 145 crore; EPS: 17.16.

• Q2 FY25 revenue: INR 495 crore; EBITDA: INR 65 crore; EBITDA margin: 13.26%; PAT: INR 90 crore; EPS: 7.88.

• Standalone Q2 FY25 revenue: ₹50,018.21 lakhs; PAT: ₹9,032.42 lakhs; consolidated Q2 FY25 revenue: ₹44,142.34 lakhs; PAT: ₹9,420.69 lakhs.

• Order book as of September 2024: INR 9,725 crore, with additional INR 1,100 crore booked post-September and L1 status in INR 622 crore orders.

• Cash and investments: INR 2,600 crore (INR 225/share); annual cash surplus exceeds INR 2,500 million.

Outlook and guidance

• FY25 revenue guidance maintained at INR 2,500 crore standalone and INR 2,250 crore consolidated.

• FY25 EPS expected at 35+, and FY26 EPS at 50+.

• Order inflow guidance for FY25 is INR 4,000 crore, with confidence to exceed INR 1,500 crore in H2.

• Targeting 10,000 crore revenue by 2028 and 250 MW data center capacity by FY2030.

• Plans to install 1 million smart meters annually and expand data centers, with Chennai DC commissioning soon and Kolkata DC by 2027.