Buy Techno Electric & Engineering Company, Target Price Rs 420: JM Financial

Buy Techno Electric & Engineering Company, Target Price Rs 420: JM Financial
JM Financial has a Buy request on Techno Electric & Engineering Company with a target price of Rs.420. The current market price of Techno Electric & Engineering Company is Rs.355.15.

Founded in 2005, Techno Electric & Engineering Company is a mid-cap company (with a market capitalization of Rs 3,838.10 crore) operating in the engineering sector.

Techno Electric & Engineering Company's key product/revenue segments include EPC, Contracts and Other, Power and Other Operating Income for the year ended March 31, 2022.

For the quarter ended 12-31-2022, the company reported consolidated total revenue of Rs 205.21 crore, a decline of -16.93% from the previous quarter's total revenue of Rs 247.04 crore and -51 .55% less compared to the previous quarter. the same in the same quarter. 423.58 million. The company reported a net profit after tax of Rs 31.41 crore in the last quarter.

The company's senior management includes Mr. PP Gupta, Mr. Ankit Saraiya, Mrs. Avantika Gupta, Ms. Dipali Khanna, Mr. SN Roy, Mr. KK Rai, Mr. KM Poddar, Mr. K Vasudevan. The company owns Singhi & Co. as an auditor. As of 31.12.2022, the company has a total of 11 million shares in circulation.

investment motivation
Broker maintains BUY as strong deposit position provides revenue visibility over next 24-30 months, low RoE wind business benefits fade as nearly 80% of wind assets sold and strong cash balance of over 15,000 million INR (including sale of wind assets) will provide a good payout in the next 3 years.
Promoter/FII Holdings
The promoter owns 61.16% of the company's capital as on 31 December 2022, while FII owns 1.69%, DII owns 25.95%.

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PP Gupta shares details of major orders from Techno Electric & Engineering | Interval ratio | CNBC-TV18

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