Techno Electric & Engineering - Strong Q3 Margins, Healthy Growth Outlook: ICICI Securities
Techno Elelctric and Engineering’s Power station (image: Company website)

Techno Electric & Engineering - Strong Q3 Margins, Healthy Growth Outlook: ICICI Securities

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.

ICICI Securities Report

Techno Electric and Engineering Company Ltd. has reported better than expected margins as it witnessed strong improvement in gross margins and turnaround in the wind segment, which supported the overall margin uptick.

Company won orders worth Rs 6 billion in nine months FY21 and is level-one in Rs 6.65 billion.

Current orderbook of Rs 20 billion (2.5 times trailing twelve months sales) lends growth visibility.

Order intake is likely to pick up in Q4 FY21E led by flue gas desulphurisation and Power Grid Corporation of India Ltd.’s ordering.

Click on the attachment to read the full report:

ICICI Securities Techno Electric Q3FY21 Results Update.pdf

DISCLAIMER

This 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 author entity 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.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.