Techno Electric & Engineering Company Ltd

Techno Electric & Engineering Company Limited – Trading Window Closure from 1 October 2026 for the Un-Audited Financial Results for the quarter ended September 30, 2026; Trading window to re-open after the expiry of 48 hours from the declaration/publication of results.

Rating Action

• ICRA reaffirms long-term AA(Stable) and short-term A1+ ratings for Techno Electric & Engineering.
• Outlook remains Stable.

Instruments Rated

• Long-term fund-based: Rs 221 crore; rating AA(Stable); reaffirmed/assigned for enhanced amount.
• Long-term/Short-term fund-based/non-fund-based: Rs 388 crore; AA(Stable)/A1+; reaffirmed/assigned for enhanced amount.
• Long-term/Short-term non-fund-based: Rs 2,673 crore; AA(Stable)/A1+; reaffirmed/assigned for enhanced amount.
• Total rated exposure: Rs 3,282 crore.

Rationale

• No detailed rationale provided; ratings reaffirmed with Stable outlook.

Outlook

• Stable outlook.

Material Changes

• Increase in instrument limits; ratings reaffirmed.

Agency

• Rating agency: ICRA Limited.

AGM Details

• AGM held on 23 September 2026 at 3:30 PM via VC/OAVM.
• Record date for voting: 16 September 2026.
• 45 Members attended the meeting.
• Remote e-voting period: 19–22 September 2026.
• Meeting concluded at 4:00 PM.

Key Resolutions & Outcomes

• Item 1: Adoption of audited financial statements approved.
• Item 2: Final dividend of Rs 7 per equity share approved.
• Item 3: Re-appointment of Mr. James Raymond Trout approved.
• Item 4: Appointment of Mr. Aninda Chatterjee as Independent Director approved.
• Item 5: Remuneration to Cost Auditor approved.
• Item 6: Borrowing limits increased to Rs 3,500 crores approved.
• Item 7: Creation of charges on assets for borrowings approved.
• All items passed by requisite majority.

Auditors

• Auditors remained unchanged; audited financial statements approved.

Record Date & Book Closure

• Final dividend for FY 2025-26, Rs 7.00 per equity share, if approved.
• Security: Equity shares.
• Record Date: Friday, 11 September 2026.
• Register and transfer books closed Sep 17–23, 2026 (inclusive) for AGM.
• AGM on 23 September 2026.
• Dividend payable to members on Record Date; demat holders to beneficial owners via NSDL/CDSL.
• Subject to shareholder approval.

Overview

• Standalone BRR for FY2025-26; EPC accounts for 99.70% of turnover.
• footprint includes 54 sites domestically and 2 internationally across 16 states.
• CSR applicable; CSR turnover ₹3,252.48 crore; net worth ₹4,204.18 crore.
• Reporting boundary is standalone; ISO 9001/14001/45001 integrated management systems.

Key ESG Risks & Opportunities

• Material ESG risks: GHG/air emissions, water management, regulatory compliance, and health and safety.
• Opportunities: energy efficiency, FGD emissions reductions, and data-center water savings.
• Adiabatic cooling could cut data-center water use by 75% (WUE 0.012 KL/KW).
• Internal targets and tracking drive emissions reductions and resource efficiency.

Governance & Policy Highlights

• ESG governance via board-level ESG Committee with cross-functional membership.
• ABAC, Whistle-blower, Code of Conduct, and Human Rights policies in place.
• Supplier Code of Conduct; DEI policy; policies publicly accessible on company site.
• No material penalties or regulatory breaches in FY25-26.

Social Responsibility & Workforce

• Total employees 1,287; permanent 703; non-permanent 584; total workers 3,982.
• Board women representation 25%; KMP women 0%.
• LTIFR is 0; 41,259 hours of health & safety training conducted.
• DEI/well-being initiatives include health camps, retirement benefits, and grievance mechanisms.

Environmental Performance

• Total energy 62,636.58 GJ; renewables 429.26 GJ; non-renewables 62,207.31 GJ; renewables share ~0.7%.
• GHG emissions: Scope 1 3,575.19 tCO2e; Scope 2 2,801.17 tCO2e; intensity 1.96 tCO2e/Cr Rs.
• Water withdrawal 65,678.09 kl; consumption 36,487.83 kl; water intensity 11.22 kl/Cr Rs.
• Waste generated 110.95 t; 1.05 t E-waste recycled; 109.90 t landfilled; ISO certifications in place.

Stakeholder Engagement & Complaints

• Stakeholders include employees, investors, customers, suppliers, communities, and regulators.
• Engagement channels: email, web portal, townhalls; frequency semi-annual/annual.
• Complaints under BRP for FY2025-26: zero across principles.
• Community engagement via CSR with Panchayat collaboration and ongoing programs.

Other Notable Metrics

• RPTs: loans to related parties 100%; investments 43.55%.
• Purchases: top 10 trading houses account for 80% of trading purchases; 7.9% from trading houses overall.
• Members in five trade associations; notable inclusions: Bengal Chamber, CII, Indian Wind Power Association.
• Data privacy: 0 data breaches; cybersecurity policy in place; awareness initiatives ongoing.

AGM Details

• Date, time, and mode: 23 September 2026 at 3:30 PM, via VC/OAVM.
• Record date for dividend: 11 September 2026.
• Book closure: 17–23 September 2026.

Ordinary Business Resolutions

• Adopt Audited Financial Statements for year ended March 31, 2026 (Standalone and Consolidated).
• Declare final dividend of Rs 7 per equity share.
• Reappoint Mr. James Raymond Trout as Non-Executive Director.

Special Business Resolutions

• Appoint Aninda Chatterjee as Independent Director for five years.
• Remuneration of Cost Auditor for 2026-27 Rs 20,000.
• Increase borrowing limit to Rs 3,500 crores.
• Create charges on movable and immovable assets to secure borrowings.

Director Changes

• Appointment of Aninda Chatterjee as Independent Director for five years.
• Re-appointment of James Raymond Trout as Non-Executive Director.

Financial performance

• Total revenue from operations: ₹32,525 million, up 35.42% YoY.
• EBITDA: ₹4,475 million; YoY growth 36.44%, margin 13.76%.
• Profit after tax: ₹5,419 million; up 26.59% YoY.
• Order book: ₹95,665 million with ~36 months visibility.

Dividend & capital allocation

• Final dividend ₹7 per share proposed for FY2025-26.

Capital structure & liquidity

• Standalone net cash ₹291.14m; consolidated borrowings ₹724.93m; net debt ₹191.81m; cash ₹533.12m.

Governance & leadership

• Shailesh Kumar Mishra appointed Independent Non-Executive Director (Feb 19, 2026).
• Aninda Chatterjee appointed Independent Director for five years from 23 Sep 2026.

Financing & borrowing

• Borrowing limit raised to ₹3,500 crores; board authorized to borrow and secure by asset charges.

AGM details & shareholder matters

• 21st AGM scheduled Sept 23, 2026 via VC/OAVM; remote e-voting Sept 19–22; cut-off Sept 16.

Issue Overview

• Type: QIP; securities: Equity Shares.
• Total issue size reported; revision in allocation noted.
• Main objectives: funding EPC for NERES XVI/NERGS I; AMI projects; data center; general corporate purposes.

Utilisation of Proceeds

• Utilisation not fully as per offer document due to project cancellation.
• Objects revised; funds reallocated to data center project.
• NERES I/NERGS I: end-quarter utilisation partial; unutilised funds carried.
• AMI Solutions 1 & 2 fully utilised.
• Data center funding allocated; fully utilised.
• GCP allocated and fully utilised; board approved.
• Unutilised funds invested in ultra-short funds.
• Delay due to cancellation; no precise days available.

Governance & Compliance

• Board approvals obtained for revised allocations.
• All government approvals obtained for objects except cancellation of NERGS I.
• Data center approvals obtained; cancellation noted.
• No other material events affecting viability.

General Corporate Purpose

• GCP used for general corporate purposes; board approved allocation; utilisation completed.