Techno Electric shares: Buy Techno Electric & Engineering Company, price target Rs 471: ICICI Securities

has a call to buy on Techno Electric & Engineering Company with a target price of Rs 471. The current market price of & Engineering Company is Rs 287.5.




The period given by the analyst is one year when the price of Techno Electric & Engineering Company Ltd. can achieve the set goal.

Techno Electric & Engineering Company Ltd., incorporated in 2005, is a mid-cap company (having a market capitalization of Rs 3167.45 Crore) operating in the engineering sector.



The major products/revenue segments of Techno Electric & Engineering Company Ltd. includes EPC, contract and other, electricity and other operating revenue for the year ending March 31, 2021.

finance

For the quarter ended 30-06-2022, the company reported Consolidated Total Revenue of Rs 185.97 Crore, down -40.14% from last quarter Total Revenue of Rs 310.64 Crore and down -10.00% compared to the same quarter last year Total revenue of Rs 206.63 Crore. The company reported a net profit after tax of Rs 35.55 Crore last quarter.


Investment rationale
The balance sheet remains strong with net cash of Rs 11 billion at the end of FY22. Given a strong balance sheet, healthy execution and an expected recovery in order intake, the brokerage maintains a BUY rating on the stock with a target price of Rs 471.

Promoter/Fii Holdings
The promoters held 60.18% of the company’s capital as of June 30, 2022, while the FIIs held 1.44% and the DIIs 27.32%.

(Disclaimer: The recommendations given in this section or any report attached hereto are written by an external party. The views expressed are those of the respective authors/entities. These do not represent the views of Economic Times (ET). AND does not warrant or endorse any of its content and hereby disclaims all warranties, express or implied, relating thereto.Please consult your financial adviser and seek independent advice.

Comments are closed.