Techno Electric & Engineering Q4 Review - Healthy Cashflows, Promising Outlook: ICICI Securities
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ICICI Securities Report
Techno Electric and Engineering Ltd. performance was below par due to delay in project execution and loss in the wind segment.
Current orderbook at Rs 20 billion (2.1 times trailing twelve months sales) lends growth visibility.
Order intake is likely to pick up in FY22E led by flue gas desulphurisation and Power Grid Corporation of India Ltd.'s ordering.
The company plans to enter the data centre market with an investment outlay of Rs 7.5 billion over the next two years – it expects 20% return on equity from the same.
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