Consolidated net sales of Techno Electric & Engineering Company for the
quarter ended Mar 2022 has increased 43% to Rs 307.55 crore. Operating
profit margin has jumped from 8.8% to 12.7%, leading to 106% rise in operating
profit to Rs 39.00 crore. Employee cost decreased from 3.87% to
3.13%. Other expenses fell from 87.18% to 82.16%.
Selling and administration expenses fell from 73.27% to 72.33%.
Construction development cost fell from 73.27% to 72.33%.
Other income fell 63% to Rs 3.09 crore. PBIDT rose 54%
to Rs 42.09 crore. Provision for interest fell 57% to Rs 0.98
crore. PBDT rose 65% to Rs 41.11 crore. Provision for
depreciation rose 1% to Rs 10.41 crore. Profit before tax grew 109%
to Rs 30.70 crore. Provision for tax was credit of Rs 6.39 crore,
compared to debit of Rs 1.93 crore. Effective tax rate was negative
20.81% compared to 17.06%. PAT was up 191% to Rs 37.09 crore. Share of
profit/loss were nil compared to a loss of Rs 3.35 crore in corresponding
previous period. Minority
interest was nil in both the periods. Net profit attributable to
owners of the company increased 295.42% to Rs 37.09 crore.
EPC revenue was up 43% to Rs 304.02
crore and the EBIT of it was up 22% to Rs 39.58 crore. However the Energy (wind
power) business reported a loss of Rs 10.67 crore (against a loss of Rs 23.08
crore in corresponding previous quarter) on a revenue that was up 32% to Rs
3.53 crore. EBIT or corporate was Rs 2.77 crore (down 64%) on a revenue of Rs
3.09 crore (down 60%).
Full year results analysis
Consolidated net sales has increased 21% to Rs 1073.87
crore. Operating profit margin has declined from 24.3% to 20.7%,
leading to 3% rise in operating profit to Rs 222.21 crore. Employee
cost decreased from 3.75% to 3.16%. Other expenses rose from 71.95%
to 76.54%. Selling and administration expenses rose from 64.01% to
70.07%. Construction development cost rose from 64.01% to 70.07%.
Other income rose 2% to Rs 40.41
crore. Provision for interest fell 28.28% to Rs 5.63
crore. Provision
for depreciation rose 0.27% to Rs 41.26 crore. Profit before tax before
EO grew 4% to Rs 215.73 crore. EO was an income of Rs 110.36 crore against
Rs 27.10 crore in corresponding previous period. Thus Profit before tax after
EO grew 39.39% to Rs 326.09 crore. Provision for tax was expense of Rs
65.84 crore, compared to Rs 50.32 crore. Effective tax rate was
19.97% compared to 21.68%. PAT was up 42% to Rs 260.25 crore. Share of profit
from associate was Rs 3.65 crore against a loss of Rs 1.84 crore. Minority
interest was nil in both the periods. Net profit attributable to
owners of the company increased 45.17% to Rs 263.90 crore.
Other developments
Equity capital stood at Rs 22.00 crore
as of 31 March 2022 to Rs 22.00 crore as of 31 March 2021. Per share
face Value remained same at Rs 2.00.
Promoters’ stake was 60.18% as of 31
March 2022, compared to 60.18% as of 31 March 2021.
BoD has recommended Final Dividend for the
financial year 2021-22 @ Rs 2/- (Rupees Two) per Equity share of face value of Rs
2 /-.
Loan funds remained
nil. Inventories rose to Rs 27.07 crore as of 31 March 2022 from Rs
6.24 crore as of 31 March 2021. Sundry debtors were higher at Rs
584.02 crore as of 31 March 2022 compared to Rs 530.23 crore as of 31 March
2021. Cash and bank balance declined from Rs 80.80 crore as of 31
March 2021 to Rs 46.68 crore as of 31 March 2022. Investments rose
to Rs 1,049.00 crore as of 31 March 2022 from Rs 713.78 crore as of 31 March
2021. Fixed assets declined from Rs 465.66 crore as of 31 March 2021
to Rs 458.11 crore as of 31 March 2022. Intangible assets stood at
Rs 0.95 crore.
|
Techno
Electric & Engineering Company: Consolidated Results
|
|
|
|
2203
(3)
|
2103
(3)
|
Var.
(%)
|
2203
(12)
|
2103
(12)
|
Var.
(%)
|
|
|
|
|
Sales
|
307.55
|
214.80
|
43
|
1073.87
|
889.23
|
21
|
|
|
|
|
OPM (%)
|
12.7
|
8.8
|
|
20.7
|
24.3
|
|
|
|
|
|
OP
|
39.00
|
18.95
|
106
|
222.21
|
216.08
|
3
|
|
|
|
|
Other
inc.
|
3.09
|
8.34
|
-63
|
40.41
|
39.76
|
2
|
|
|
|
|
PBIDT
|
42.09
|
27.29
|
54
|
262.62
|
255.83
|
3
|
|
|
|
|
Interest
|
0.98
|
2.30
|
-57
|
5.63
|
7.85
|
-28
|
|
|
|
|
PBDT
|
41.11
|
24.99
|
65
|
256.99
|
247.99
|
4
|
|
|
|
|
Dep.
|
10.41
|
10.33
|
1
|
41.26
|
41.15
|
0
|
|
|
|
|
PBT
|
30.70
|
14.66
|
109
|
215.73
|
206.84
|
4
|
|
|
|
|
EO
Income
|
0.00
|
0.00
|
|
110.36
|
27.10
|
307
|
|
|
|
|
PBT
after EO
|
30.70
|
14.66
|
109
|
326.10
|
233.94
|
39
|
|
|
|
|
Taxation
|
-6.39
|
1.93
|
LP
|
65.84
|
50.32
|
31
|
|
|
|
|
PAT
|
37.09
|
12.73
|
191
|
260.25
|
183.62
|
42
|
|
|
|
|
Share
of Profit/(Loss) from Associates
|
0.00
|
-3.35
|
-100
|
3.65
|
-1.84
|
-298
|
|
|
|
|
Net
profit
|
37.09
|
9.38
|
295
|
263.90
|
181.78
|
45
|
|
|
|
|
EPS
(Rs)*
|
#
|
#
|
|
16.0
|
14.6
|
|
|
|
|
|
* EPS
is on current equity of Rs 22.0 crore, Face value of Rs 2
|
|
|
# EPS
is not annualised due to seasonality of business
|
|
|
|
Figures
in Rs crore
|
|
|
|
|
|
|
|
|
|
Source:
Capitaline Corporate Database
|
|
|
|
|
|
|
|
Techno
Electric & Engineering Company: Consolidated Segment Results
|
|
|
Sales
|
% to
total
|
2203
(3)
|
2103
(3)
|
Var.
(%)
|
% to
total
|
2203
(12)
|
2103
(12)
|
Var.
(%)
|
|
|
|
|
|
EPC
(Construction)
|
98
|
304.02
|
212.79
|
43
|
81
|
988.43
|
791.69
|
25
|
|
|
|
|
|
Energy
(Power)
|
1
|
3.53
|
2.68
|
32
|
7
|
85.63
|
100.04
|
-14
|
|
|
|
|
|
Corporate/
Unallocable
|
1
|
3.09
|
7.67
|
-60
|
12
|
150.58
|
64.36
|
134
|
|
|
|
|
|
Total
Reportable Segment
|
100
|
310.64
|
223.14
|
39
|
100
|
1224.64
|
956.08
|
28
|
|
|
|
|
|
Less:
Inter segment revenues
|
|
|
|
|
|
|
|
|
|
|
|
Net
sales
|
|
310.64
|
223.14
|
39
|
|
1224.64
|
956.08
|
28
|
|
|
|
|
|
PBIT
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EPC
(Construction)
|
125
|
39.58
|
32.39
|
22
|
46
|
152.65
|
144.90
|
5
|
|
|
|
|
|
Energy
(Power)
|
-34
|
-10.67
|
-23.08
|
-54
|
9
|
29.09
|
32.63
|
-11
|
|
|
|
|
|
Corporate/
Unallocable
|
9
|
2.77
|
7.65
|
-64
|
45
|
149.98
|
64.25
|
133
|
|
|
|
|
|
Total
|
100
|
31.68
|
16.96
|
87
|
100
|
331.72
|
241.78
|
37
|
|
|
|
|
|
Less:
Interest
|
|
0.98
|
2.30
|
-57
|
|
5.63
|
7.85
|
-28
|
|
|
|
|
|
Add:
Other un-allcoable
|
|
|
####
|
|
|
|
####
|
|
|
|
|
|
PBT
|
|
30.70
|
14.66
|
109
|
|
326.10
|
233.94
|
39
|
|
|
|
|
|
Figures
in Rs crore
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Source:
Capitaline Corporate Database
|
|
|
|
|
|
|
|
|
|
|