Techno Electric & Engineering Company Ltd Share Price – NSE  / BSE

Infrastructure Developers & Operators, Small Cap

Techno Electric & Engineering Company has entered into securities subscription cum shareholders agreement (SSSHA) with IndiGrid 1 (IGL 1), IndiGrid 2 (IGL 2) and 2 special purpose vehicles (SPVs) of IndiGrid namely Ishanagar Power Transmission (IPTL) and Dhule Power Transmission (DPTL} for acquiring minority equity stake.

Under this partnership, Techno Electric will co-develop and invest in IndiGrid’s two ISTS projects, IPTL and DPTL. The company will invest minority capital and will also be responsible for the complete execution of the projects on a Lump Sum Turnkey (LSTK) basis.

Techno Electric, chairperson, Padam Prakash Gupta,said, “As a pioneer and lead in the energy transmission sector, Techno is immensely proud and honored to collaborate with IndiGrid, in advancing India’s transmission story. This partnership represents @ significant milestone for us, reflecting our commitment to leading the transformation of the energy landscape in India. With our deep execution capabilities, a strong balance sheet, and a shared vision for sustainable growth, we view this collaborationas a long term strategic partnership that will shape the future of energy transmissionin the country.”

Techno Electric & Engineering Company is a recognized company in the power sector. It provides engineering, procurement and construction services to the three segments of power sector including generation, transmission and distribution. The company is also engaged in generation of wind power through wind turbine generators in the states of Tamil Nadu & Karnataka.

The company’s consolidated net profit surged to Rs 98.10 crore in Q1 FY25 as compared with Rs 25.56 crore in Q1 FY24. Revenue jumped 37% YoY to Rs 375.37 crore during the quarter.

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Techno Electric & Engineering Company today announced that it has partnered with Indigrid to collaboratively undertake development of two of the IndiGrid's greenfield Interstate Transmission System (ISTS) projects and signed the Securities Subscription Cum Shareholders Agreement (SSSHA).

Under this partnership, Techno Electric will co-develop and invest in IndiGrid's two ISTS projects i.e.Ishanagar Power Transmission (IPTL) and Dhule Power Transmission (DPTL).

Techno will invest minority capital and will also be responsible for the complete execution of the projects on a Lump Sum Turnkey (LSTK) basis.

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Techno Electric & Engineering Company has appointed Arun Duggal (DIN: 00024262) as an Additional Non-Executive Independent Director of the company with effect from 13 August 2024.

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Net profit of Techno Electric & Engineering Company rose 288.36% to Rs 98.10 crore in the quarter ended June 2024 as against Rs 25.26 crore during the previous quarter ended June 2023. Sales rose 37.03% to Rs 375.37 crore in the quarter ended June 2024 as against Rs 273.93 crore during the previous quarter ended June 2023.

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