Techno Electric & Engineering Q2 FY2026 Results: Revenue Nearly Doubles YoY; Profit Steady Amid Continued Project Momentum

Techno Electric & Engineering Company Q2 FY2026 Financial Results

Techno Electric & Engineering Company Limited (NSE: TECHNOE) reported a strong performance for the quarter ended September 30, 2025 (Q2 FY26), with revenue almost doubling year-on-year. The company maintained profitability despite a high base and continued its track record of operational excellence in India’s power infrastructure sector.

Stock Performance & Key Metrics

As of November 13, 2025:

• Current Price: ₹1,266
• Market Cap: ₹14,743 Crores
• Stock P/E: 33.1
• Book Value: ₹335 per share
• Dividend Yield: 0.71%
• ROCE: 16.5%
• ROE: 12.8%
• Debt to Equity: 0.02
• Debt: ₹61.2 Crores
• Face Value: ₹2
• EPS (Q2 FY26): ₹8.94

Q2 FY2026 Financial Highlights

Result Summary

• Revenue surged 91% YoY to ₹843 Cr, supported by strong project execution and timely delivery in ongoing EPC contracts.
• EBITDA rose 58% YoY to ₹111 Cr, reflecting improved project utilization and margin stability.
• PAT increased 10% YoY to ₹104 Cr; sequentially, profit declined from ₹136 Cr in Q1 due to seasonality and one-off items recognized earlier.
• The company maintained a near debt-free balance sheet with Debt-to-Equity at 0.02 and continued to generate healthy cash flows.

Management emphasized that revenue recognition during Q2 was consistent with project milestones achieved, with deferred revenue booked for projects awaiting customer acceptance certificates.

Key Business Updates & Highlights

• The company continues to operate within a single segment — EPC and Power Infrastructure, as per Ind AS 108.
• Q2 results were reviewed and approved by the Board of Directors on November 12, 2025, following audit committee review.
• During FY25, the company recognized ₹33.6 Cr profit from discontinued operations related to late payment surcharges on energy sales, which boosted prior period profits.
• Arbitration proceedings related to the Bengal Energy Limited project (₹11.8 Cr receivable) are ongoing, with no financial impact expected.
• The company remains confident of recovering ₹80.9 Cr in receivables from its Afghanistan project, supported by confirmation from the Asian Development Bank (ADB) and UNOPS for payment processing.
• Receivable of ₹17.7 Cr from Renewable Energy Certificates (RECs) deposited with CERC remains recoverable, and management expects a favorable outcome.

Strategic & Financial Overview

• The company continues to focus on EPC execution in power transmission and renewable projects with a prudent bidding approach and selective participation in high-margin opportunities.
• No significant borrowings were reported, and liquidity remains strong, enabling self-funded capex and working capital efficiency.
• The company’s order book continues to support visibility over the next few quarters.
• Revenue from projects under execution was deferred where customer performance acceptance was pending, ensuring conservative revenue recognition.

Outlook

Techno Electric expects sustained growth momentum through FY26 driven by:

• Rising government spending on power infrastructure and renewable energy,
• Steady progress in transmission and distribution (T&D) projects, and
• Ongoing investments in clean energy and grid modernization.

With a robust financial profile, low leverage, and strong execution history, the company remains well-positioned to benefit from India’s ongoing infrastructure build-out.

About the Company

Techno Electric & Engineering Company Limited (TEECL) is one of India’s leading EPC and power infrastructure solution providers, offering services across Engineering, Procurement & Construction (EPC), asset ownership, and operations & maintenance (O&M).

Founded in 1963, the company operates across segments such as:

• Transmission & Distribution (T&D) EPC services
• Renewable Energy (wind power and green energy solutions)
• Industrial and Infrastructure Projects

Techno Electric is known for its expertise in executing large-scale, complex power infrastructure projects, with a proven record of technical competence, quality delivery, and financial prudence.

*For full financial results, refer to the official results PDF*

*Data as of November 13, 2025 | Results approved by Board of Directors on November 12, 2025*