Techno Electric & Engineering Company (TECHNOE) Q3 24/25 earnings summary

Executive summary

• Q3 FY25 and 9MFY25 delivered strong financial performance, with significant year-on-year growth in revenue, EBITDA, and PAT, supported by a robust order book and high revenue visibility.

• Maintains a debt-free status, AA long-term credit rating, and significant cash surplus, with shareholders' funds at INR 21,917 million as of FY2024.

• Strategic focus on EPC, smart metering, FGD, and data center expansion, leveraging industry growth trends and commissioning of Chennai and Kolkata data centers.

• Unaudited standalone and consolidated financial results for Q3 and 9MFY25 were approved, with one-time gains from late payment surcharge recovery.

Financial highlights

• Q3 FY25 standalone revenue was ₹67,590.40 lakhs, up from ₹36,565.74 lakhs in Q3 FY24; consolidated revenue was ₹63,607.77 lakhs, up from ₹32,654.02 lakhs in Q3 FY24.

• Q3 FY25 standalone PAT was ₹10,456.52 lakhs; consolidated PAT was ₹9,598.97 lakhs.

• Q3 FY25 EBITDA margin was 14.68%; 9MFY25 EBITDA margin was 14.17%.

• Cash and cash equivalents exceed INR 2,500 crore, including QIP proceeds.

• 99% of total business revenue from EPC as of March 31, 2024.

Outlook and guidance

• FY25 revenue guidance of INR 2,400 crore, with Q4 expected to contribute 30% of the top line; FY26 target of INR 3,500–3,600 crore revenue and EPS of INR 50.

• 36 months of revenue visibility with an order book of INR 97,045 million as of December 31, 2024.

• Plans to commission Chennai data center (36 MW) in March 2025 and Kolkata data center (15 MW) in 2027, with edge data center rollout across India.

• Data center business expected to reach 250 MW capacity by 2030, targeting at least $250 million annual revenue.