Techno Electric & Engineering Company (TECHNOE) Q4 04/05 earnings summary

Executive summary

• FY05 turnover rose to ₹115.21 crore from ₹64.33 crore; profit after tax increased to ₹4.90 crore from ₹2.88 crore.

• Project execution and order wins spanned transmission, distribution, thermal power and captive power; management expected performance to grow on similar lines.

Financial highlights

• Operating income ₹115.21 crore vs ₹64.33 crore; total income ₹118.66 crore vs ₹66.76 crore.

• PBT ₹6.52 crore vs ₹3.81 crore; PAT ₹4.90 crore vs ₹2.88 crore.

• Profit before interest and depreciation ₹694.57 lakh vs ₹428.18 lakh; interest expense fell to ₹4.95 lakh from ₹13.31 lakh.

• Other income included net investment-sale profit of ₹2.47 crore vs ₹1.71 crore.

Outlook and guidance

• Management expected FY06 performance to grow on lines similar to FY05, citing a strong project pipeline and orders already secured.

• Two 12 MW waste-heat-recovery captive power projects at Haldia and Rachagunneri were in advanced stages, with commissioning scheduled in H1 FY06.

• Work on several substation, transmission and thermal-power packages was progressing satisfactorily and expected to finish on schedule.