Techno Electric & Engineering Company (TECHNOE) Q2 25/26 earnings summary

Executive summary

• Revenue for H1 FY2026 reached INR 1,352 crore with EBITDA of INR 194 crore (14.4% margin), and PAT of INR 222 crore (15% margin).

• Q2 revenue was INR 839 crore, EBITDA INR 115 crore (13.8% margin), and PAT INR 123 crore (13.9% margin).

• EPS for H1 was INR 21.21, up 23.6% YoY; Q2 EPS was INR 10.61, up 34.6% YoY.

• Unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2025 were approved and reviewed by the Board on 12 November 2025.

• Audit Committee was reconstituted with a new chairperson appointed.

Financial highlights

• Standalone revenue from operations for Q2 FY26 was ₹8,386.15 million, up from ₹5,001.82 million in Q2 FY25; consolidated revenue was ₹8,434.25 million, up from ₹4,414.23 million year-over-year.

• Standalone profit after tax for Q2 FY26 was ₹1,233.98 million, compared to ₹903.23 million in Q2 FY25; consolidated profit after tax was ₹1,039.83 million, up from ₹942.06 million year-over-year.

• Other income for H1 was INR 105 crore; Q2 other income was INR 47 crore.

• Cash and liquid investments at INR 2,600 crore (INR 225/share).

• Order intake for FY2026 expected at INR 3,000 crore, with bids in pipeline for INR 1,500 crore.

Outlook and guidance

• FY2026 revenue target of INR 3,500 crore remains on track, with H1 typically contributing 40% and H2 60%.

• EPS guidance of INR 50 for FY2026 and INR 75 for FY2027, excluding data center contributions.

• Management remains confident about the recoverability of overdue trade receivables and other financial assets, supported by legal opinions and interim regulatory orders.

• H2 margin guidance at 13.5%-14%.

• Data center vertical expected to contribute INR 125 crore to top line in FY2027.