Techno Electric & Engineering Company (TECHNOE) Q3 25/26 earnings summary

Executive summary

• Undergoing a strategic transformation from a pure-play EPC in power to a digital infrastructure platform, focusing on data centers and smart metering alongside core EPC operations.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025 were approved and reviewed by the Board and auditors on 10 February 2026.

• Both standalone and consolidated results show strong year-over-year growth in revenue and profit.

• Leveraging strong legacy in power sector, zero debt, and robust financials to fund digital expansion without equity dilution.

• Positioned at the intersection of India's power transmission and digital infrastructure supercycles, benefiting from government policy tailwinds.

Financial highlights

• Standalone revenue for the quarter was ₹8,569.79 million, up from ₹6,759.04 million; nine-month revenue was ₹22,093.08 million, up from ₹15,898.27 million.

• Consolidated revenue for the quarter was ₹8,721.97 million, up from ₹6,360.78 million; nine-month revenue was ₹22,415.96 million, up from ₹14,528.68 million.

• Standalone PAT for the quarter was ₹1,517.79 million, up from ₹1,045.65 million; nine-month PAT was ₹3,984.99 million, up from ₹2,953.26 million.

• Core EBITDA for nine months grew 40% to INR 315 crore; core EBITDA margin normalized to 14.14% due to initial digital investments.

• Cash and liquidity investments stand at INR 1,925 crore.

Outlook and guidance

• FY2026 revenue guidance of INR 3,300–3,400 crore and EPS of around INR 50 (standalone), with consolidated EPS within ±5%.

• FY2027 EPS guidance maintained at INR 75, with no major execution challenges anticipated.

• Management remains confident about the recoverability of overdue receivables and expects continued positive performance.

• Order intake to be disciplined, targeting INR 3,000–3,500 crore annually, focusing on high-margin projects.

• Data center top line expected to reach INR 300–400 crore in 2–3 years, with potential for further expansion depending on policy impact.