Techno Electric & Engineering Company (TECHNOE) Q1 26/27 earnings summary

Executive summary

• Q1 FY 2027 revenue grew by 25% YoY to INR 6,416 million (standalone) and 20% YoY to INR 6,303 million (consolidated), driven by strong execution in power transmission, digital infrastructure, and AMI installation.

• EBITDA margin was 13.88% (standalone) and 15.79% (consolidated), with PAT at INR 962 million (standalone) and INR 933 million (consolidated); EPS at INR 8.27 (standalone) and INR 8.02 (consolidated).

• Order book stood at INR 11,000 crore as of the current date, up from INR 9,600 crore at June 30, 2026, with significant new wins and strong L1 pipeline.

• Digital Infrastructure business saw demand exceeding planned capacity, prompting expansion in Chennai, Noida, and Kolkata; Chennai campus scaled up to 35-40 MW and certified.

• Smart metering business progressing well, with 18.5 lakh meters installed out of 2.24 million under RDSS scheme, and annuity phase commenced in Madhya Pradesh.

Financial highlights

• Standalone Q1 FY 2027 revenue: INR 6,416 million (up 25% YoY); consolidated: INR 6,303 million (up 20% YoY); EBITDA: INR 891 million (standalone), INR 995 million (consolidated); PAT: INR 962 million (standalone), INR 933 million (consolidated).

• EBITDA margin: 13.88% (standalone), 15.79% (consolidated); PAT margin: 14.08% (standalone), 14.15% (consolidated).

• Other income declined due to redeployment of QIP funds into projects.

• Finance cost reduced by 46% YoY to INR 66 million (standalone), supporting earnings.

• Company remains debt-free with a net cash position of INR 1,250 crore as of June 26, 2026, and AA/Stable long-term credit rating.

Outlook and guidance

• Revenue expected to be weighted towards H2, with 60% of annual revenue typically realized in the second half.

• Guidance to achieve revenue of INR 4,000 crore or more for FY 2027, with EBITDA margins of 13%-14%.

• Data Center segment revenue and EBITDA guidance to be provided in H2 as customer deals mature; INR 40 crore revenue guidance for FY 2027 remains.

• AMI portfolio installation at 77%, targeting 100% completion by end of FY27.

• Noida campus commissioning targeted for Q4 FY27; Kolkata campus live by FY29; 250 MW digital infrastructure portfolio planned by FY30.