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Results
16-Feb-23
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Analysis
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Techno Electric & Engineering Company
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Sales down 38%, net down 75%
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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.
Techno Electric & Engineering Company : Consolidated Results | | Quarter ended | Year to Date | Year ended |
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Particulars | 202212 | 202112 | Var.(%) | 202212 | 202112 | Var.(%) | 202203 | 202103 | Var.(%) |
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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 | OP | 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 | 1.63 | 0 | 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 | 0.63 | - | 0 | 3.64 | - | 3.64 | -1.84 | LP | PBT before EO | 39.74 | 157.87 | -74.83 | 121.52 | 262.12 | -53.64 | 302.53 | 232.1 | 30.34 | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | 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) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | 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 | LP | 0 | 28 | - | 20.84 | 0 | - | 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 |
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Techno Electric & Engineering Company : Consolidated Segment Results | | Quarter ended | Year ended |
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| % of (Total) | 202212 | 202112 | Var.(%) | % of (Total) | 202103 | 202003 | Var.(%) |
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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 | 0.00 | 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 | 0.00 | - | | 0.00 | 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 | 0.00 | 0.00 | - | Total PBIT | 100.00 | 21.57 | 32.40 | -33.43 | 100.00 | 177.53 | 174.66 | 1.64 | Less : Interest | | 1.63 | 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 | 0.00 | 0.00 | PBT | 100.00 | 39.75 | 150.91 | -73.66 | 100.00 | 233.94 | 214.98 | 8.82 |
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