BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Anand Rathi Report
Better execution led to Techno Electric and Engineering Company Ltd.’s Q2 FY21 performance outstripping our expectation.
Such execution enabled better cost absorption, leading to a 29.3% Ebitda margin (our estimate 25.5%).
Management expects robust orders in the medium to long run in distribution and pollution control, power transmission and distribution (evacuation of renewable power) and ‘smart’ meters.
It expects Rs 11 billion-Rs12 billion engineering procurement and construction revenue in FY21 and a 15-16% Ebitda margin, led by execution of half the present order book of Rs 21.2 billion.
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