Techno Electric & Engineering Company (TECHNOE) Q3 25/26 earnings summary

Executive summary

• Undergoing a strategic transformation from a pure-play EPC power sector company to a digital infrastructure platform, focusing on data centers and smart metering for long-term annuity-like cash flows.

• Achieved record Q3 revenue and resilient profitability, with strong 9M momentum driven by execution efficiency.

• Leveraging strong legacy in power infrastructure to capitalize on India's power and digital supercycles, with significant government support and market tailwinds.

• Data center business accelerated: 36 MW Chennai hyperscale live, Noida and Mumbai edge centers to be operational by FY26.

• Healthy execution across EPC, data centers, and smart metering; robust order pipeline supported by TBCB bidding.

Financial highlights

• Q3 FY26 standalone revenue reached ₹8,569.79 million, up 26.79% YoY; nine-month revenue at ₹22,093.08 million, up 38.97%.

• Standalone profit after tax for Q3 was ₹1,517.79 million, up 45.15% YoY; nine-month PAT was ₹3,984.99 million, up 49.04%.

• Standalone EPS for Q3 at ₹13.05 (up 45.16% YoY); nine-month EPS at ₹34.26.

• Core EBITDA for nine months at ₹3,156 million, up 40.06%; EBITDA margin normalized to 14.14% due to strategic digitization investments.

• Order book at ₹95,814 million as of Dec 31, 2025; new contracts worth ₹21,629 million won till Jan 31, 2026.

Outlook and guidance

• FY2026 revenue guidance of ₹33,000–34,000 million and EPS of around ₹50 (standalone), with consolidated EPS within ±5%.

• FY2027 EPS guidance maintained at ₹75, with no major execution challenges anticipated.

• Strong order pipeline in EPC, smart metering, and data center infrastructure; expanding digital infrastructure opportunities across 23 states.

• Data center segment expected to contribute ₹3,000–4,000 million to top line within 2–3 years.