Capitaline

Consolidated net sales of Techno Electric & Engineering Company for the quarter ended Dec 2022 has declined 37.74% to Rs 185.26 crore. Operating profit margin has declined from 13.59% to 12.60%, leading to 42.30% decline in operating profit to Rs 23.34 crore. Employee cost increased from 2.76% to 5.17%. Other expenses fell from 85.16% to 82.57%. Selling and administration expenses fell from 81.41% to 74.80%. Construction development cost fell from 81.41% to 74.80%. Other income fell 83.41% to Rs 19.95 crore. PBIDT fell 73.06% to Rs 43.29 crore. PBDT fell 73.81% to Rs 41.66 crore. Provision for depreciation rose 6.67% to Rs 1.92 crore. Profit before tax down 74.73% to Rs 39.74 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 9.24 crore, compared to Rs 35.46 crore. Effective tax rate was 23.25% compared to 22.46%. Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 75.08% to Rs 30.50 crore.

Sales of EPC (Construction) segment has gone down 37.97% to Rs 183.87 crore (accounting for 99.25% of total sales). Sales of Energy (Power) segment has gone down 79.91% to Rs 1.39 crore (accounting for 0.75% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has slumped 33.43% to Rs 21.57 crore. PBIT of EPC (Construction) segment fell 43.73% to Rs 22.52 crore (accounting for 104.39% of total PBIT). PBIT of Energy (Power) segment rose 87.56% to Rs -0.95 crore (accounting for -4.39% of total PBIT).
PBIT margin of EPC (Construction) segment fell from 13.50% to 12.25%. PBIT margin of Energy (Power) segment rose from negative 110.05% to negative 68.13%. Overall PBIT margin rose from 10.68% to 11.64%.

Nine month performance

Net sales (including other operating income) of Techno Electric & Engineering Company has declined 25.57% to Rs 516.53 crore. Operating profit margin has declined from 17.43% to 15.40%, leading to 34.24% decline in operating profit to Rs 79.54 crore. Employee cost increased from 3.41% to 5.29%. Other expenses fell from 80.62% to 79.89%. Selling and administration expenses fell from 75.92% to 72.48%. Construction development cost fell from 75.92% to 72.48%. Other income fell 64.81% to Rs 51.97 crore. PBIDT fell 51.05% to Rs 131.51 crore. Provision for interest fell 6.24% to Rs 4.36 crore. PBDT fell 51.84% to Rs 127.15 crore. Provision for depreciation rose 2.18% to Rs 5.63 crore. Profit before tax down 52.99% to Rs 121.52 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 31.07 crore, compared to Rs 63.32 crore. Effective tax rate was 25.57% compared to 24.16%. Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 54.50% to Rs 90.45 crore.

Promoters’ stake was 61.16% as of 31 December 2022 ,compared to 60.18% as of 31 December 2021.

Quarter ended

Year to Date

Year ended

Particulars

202212

202112

Var.(%)

202212

202112

Var.(%)

202203

202103

Var.(%)

Net Sales (including other operating income)

185.26

297.56

-37.74

516.53

693.95

-25.57

999.17

889.23

12.36

OPM (%)

12.60

13.59

-100 bps

15.40

17.43

-203 bps

16.13

24.30

-817 bps

23.34

40.45

-42.30

79.54

120.95

-34.24

161.19

216.09

-25.41

Other Inc.

19.95

120.22

-83.41

51.97

147.69

-64.81

150.77

66.85

125.53

PBIDT

43.29

160.67

-73.06

131.51

268.64

-51.05

311.96

282.94

10.26

Interest

1.63

4.36

4.65

-6.24

5.63

7.85

-28.28

PBDT

41.66

159.04

-73.81

127.15

263.99

-51.84

306.33

275.09

11.36

Depreciation

1.92

1.8

6.67

5.63

5.51

2.18

7.44

41.15

-81.92

PBT

39.74

157.24

-74.73

121.52

258.48

-52.99

298.89

233.94

27.76

Share of Profit/(Loss) from Associates

0.63

3.64

-1.84

PBT before EO

39.74

157.87

-74.83

121.52

262.12

-53.64

302.53

232.1

30.34

EO Income

PBT after EO

39.74

157.87

-74.83

121.52

262.12

-53.64

302.53

232.1

30.34

Taxation

9.24

35.46

-73.94

31.07

63.32

-50.93

59.48

50.32

18.20

PAT

30.5

122.41

-75.08

90.45

198.8

-54.50

243.05

181.78

33.71

Minority Interest (MI)

Net profit

30.5

122.41

-75.08

90.45

198.8

-54.50

243.05

181.78

33.71

P/(L) from discontinued operations net of tax

0.91

-7.54

20.84

Net profit after discontinued operations

31.41

114.87

-72.66

90.45

226.8

-60.12

263.89

181.78

45.17

EPS (Rs)*

2.77

11.13

-75.08

8.22

18.07

-54.50

22.10

16.53

33.71

* EPS is on current equity of Rs 22.00 crore, Face value of Rs 2, Excluding extraordinary items.

# EPS is not annualised

bps : Basis points

EO : Extraordinary items

Figures in Rs crore

Source: Capitaline Corporate Database

Quarter ended

Year ended

% of (Total)

202212

202112

Var.(%)

% of (Total)

202103

202003

Var.(%)

Sales

EPC (Construction)

99.25

183.87

296.43

-37.97

88.78

791.69

784.35

0.94

Energy (Power)

0.75

1.39

6.92

-79.91

11.22

100.04

91.82

8.95

Corporate

0.00

Total Reported Sales

100.00

185.26

303.36

-38.93

100.00

891.72

876.17

1.78

Less: Inter segment revenues

0.00

Net Sales

100.00

185.26

303.36

-38.93

100.00

891.72

876.17

1.78

PBIT

EPC (Construction)

104.39

22.52

40.02

-43.73

81.62

144.90

138.65

4.51

Energy (Power)

-4.39

-0.95

-7.62

87.56

18.38

32.63

36.01

-9.39

Corporate

0.00

Total PBIT

100.00

21.57

32.40

-33.43

100.00

177.53

174.66

1.64

Less : Interest

1.63

0.02

7.85

6.12

28.19

Add: Other un-allcoable

19.81

120.14

-83.51

64.25

46.44

38.35

PBIT Margin(%)

EPC (Construction)

12.25

13.50

-125.31

18.30

17.68

62.53

Energy (Power)

-68.13

-110.05

4,191.94

32.62

39.22

-660.09

Corporate

0.00

PBT

100.00

39.75

150.91

-73.66

100.00

233.94

214.98

8.82