Techno Electric & Engineering Company (TECHNOE) Q4 01/02 earnings summary

Executive summary

• FY02 turnover reached ₹75.46 crore vs ₹61.11 crore; PBT rose to ₹3.14 crore from ₹2.73 crore, while PAT was ₹2.02 crore vs ₹2.09 crore.

• Operations centered on power transmission and substation engineering; several major projects were commissioned and new orders secured.

Financial highlights

• Operating income was ₹75.46 crore vs ₹61.11 crore; other income was ₹1.54 crore vs ₹1.62 crore.

• PBT was ₹3.14 crore vs ₹2.73 crore; tax provision was ₹1.13 crore vs ₹0.64 crore; PAT was ₹2.02 crore vs ₹2.09 crore.

• Recommended dividend was 15% (₹1.50/share) vs 35% in FY01.

Outlook and guidance

• Tenth Plan capacity-addition target was 41,000 MW, including 22,500 MW in the Central Sector; longer-term plans targeted 100,000 MW by 2012 and 30,000 MW of inter-regional transfer capacity.

• Central Sector gross budget support for the Tenth Plan was set at ₹25,000 crore, 67% above the Ninth Plan; public-sector investment and power-sector reforms were expected to support capacity additions.

• Management expected sustained growth from power-sector investment, while emphasizing cost effectiveness and stringent project monitoring.