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

JM Financial acquired Techno Electric & Engineering with a target price of Rs.420. The current market price of Techno Electric & Engineering Company is Rs.355.15.

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

The main revenues/segments of Techno Electric and Engineering include EPC, Contracts and other operating income, Power and other operating income for the year ended March 31, 2022.

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finances
For the quarter ended December 31, 2022, the company reported a total consolidated revenue of Rs 205.21 million, down 16.93% compared to the previous quarter, and total consolidated revenue of Rs 247.04 million, which is 51.55 % less than the previous quarter. quarter last year. The total revenue is 423.58 million rubles. The company posted a net profit after tax of Rs 31.41 crore in the last quarter.

Senior managers of the company are Mr. P.P. Gupta, Mr. Ankit Saraya, Ms. Avantika Gupta, Ms. Deepali Khanna, Mr. S.N. Roy, Mr. KK. Rai, Mr. K.M. Poddar and Mrs. K. Vasudevan. Singhi & Co. as auditors. As of December 31, 2022, the company has shares worth 11 million rubles.

Reason for investment
The brokerage remains buy as visibility of returns over the next 24-30 months ensures a stable position. The downturn in the wind business will ease as nearly 80% of wind assets are sold and a strong cash balance of over INR 15 billion (including sale of wind assets) ensures a healthy payout. over the next three years.

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Promoter / Fii Holdings
As of December 31, 2022, promoters have acquired 61.16% of the company's capital, manufacturing companies - 1.69% and industrial investment institutions - 25.95%.

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