Techno Electric hosted a conference call on Nov 16, 2023. In the conference call the company was represented by P. P. Gupta (Chairman and MD) and Ankit Saraiya (Director).

Key take aways of the call.

Order backlog as end of Sep 2023 stood at Rs 4361 crore.  Other than this the company is L1 for orders worth Rs 3550 crore including one T&D orders from PGCIL for Rs 225 crore, Rs 200 crore order from Sterlite, Rs 227 crore from NTPC as well as two smart meter orders of RS 1395 crore (Rs 1041 crore smart meter order from J&K and Rs 335 crore from Tripura).

Order win in Q2FY24 include one smart metere orders worth Rs 536 crore for supply and installation of 5 lakh smart meteres in Indore and one PGCIL transmission order worth Rs 288.32 crore. 

By march 2024 first  phase of Chennai DC will be commissioned with the company already invested about Rs 222 crore in this project. Total costof phase I is Rs 550 crore and whole projects is 1200 crore and all phases will be completed by March 2025. DC capex alone will be about Rs 1000 crore  since fy25.

Order pipeline for which bids submitted are Rs 5000 crore and out of which the company confident of winning about Rs 2000 crore.

GOI has announced addition of 30-40 GW of thermal capacity all being brown field in coming years as the peak power demand surge in the country.  

FGD is still subdued despite lot of capacity to be covered yet. 100 GW is yet to be ordered out across all segments Central/State PSUs and Private sector.

EPC Business EBITDA margin guidance continues to be 13.5% plus/minus 1% but the margin depends on project mix and scale etc.

From current quarter onwards a quarterly run rate of Rs 400 crore plus going forward.

Standalone revenue in Q2FY24 was Rs 486 crore including execution of Chennai DC order at cost.  Expect similar level of revenue run rate for forthcoming quarters.

Out of total receivables of RS 670 crore, receivables from TNEB relating to wind farms is about Rs 125 crore.