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