ICICI Securities: Strong EPC Margins Support Techno Electric And Engineering’s Q1 Earnings

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.Techno Electric and Engineering Company Ltd. has reported better-than-expected margins under engineering procurement and construction (EPC) segments in Q1 FY21.The company was able to control the fixed expenses focusing on reduction in employee cost and other expenditure.It won Rs 2.3 billion worth of orders in the quarter and is Level one in another Rs 700 million order.Order intake pipeline is strong, execution traction is gradually improving and the management is confident of a flat revenue growth in FY21E, expecting pick up in H2 FY21.Factoring the stress in wind segment pricing and margins, we cut our earnings by 1.3% and 9.7% for FY21E and FY22E, respectively.Given strong balance sheet with cash and equivalents of Rs 4 billion, strong orderbook and healthy order intake outlook,.Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

ICICI Securities: Strong EPC Margins Support Techno Electric And Engineering’s Q1 Earnings

ICICI Securities: Strong EPC Margins Support Techno Electric And Engineering’s Q1 Earnings

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