- 16 Aug 2022
- ICICIdirect Research
TECHNO ELECTRIC ENGINEERING POSTS Q1FY23 NUMBERS
TECHNOE - 1439 Change: 15.85 (1.11 %)News: Techno Electric Engineering (TEEC) reported consolidated revenues at Rs 173 crore de-grew by 8.7% on YoY basis and 43.8% QoQ. Absolute EBITDA came in at Rs 47.8 crore de-grew by 13.4% on YoY basis due to higher commodity cost, with EBITDA margin came in at 27.6%, decrease by 151bps, on YoY basis. PAT came in at Rs 36 crore which de-grew by 21.1% on YoY basis impacted by lower other income.
View: Techno Electric Engineering (TEEC) reported weak set of Q1FY23 numbers. Revenue declined owing to lower revenues in EPC segment. EPC revenue de-grew by 11% to Rs 144.8 crore on YoY basis and 52.4% QoQ. At the same time Energy revenue grew by 13.8% to Rs 30.9 crore, on YoY. EPC segment reported EBIT margins of 16.3% (Vs. 19.6% in Q1FY22) and Energy segment reported EBIT margin of 53.9% (Vs. 48.9% in Q1FY22).
Impact: Negative.