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