Techno Electric & Engineering Company Ltd (TEECL) has recorded an order inflow of Rs.611 crore in the first half (H1: April to September) of FY24.
In an investor conference, the senior management of TEECL said that the company witnessed an order inflow of Rs.611 crore in H1 of FY24, taking the unexecuted order book, as of September 30, 2023, to around Rs.3,536 crore.
Here are some other highlights of the company’s performance in H1 of FY24:
- Post H1 of FY24 (after September 30, 2023) till around November 16, 2023, Techo Electric received two orders –order under RDSS for 5 lakh smart meters in Indore (Rs.536 crore) and 765/400kV Dausa substation from PGCIL (Rs.288 crore). This has taken the company’s outstanding order book to around Rs.4361 crore, as of November 16, 2023.
- The company is currently at L1 position with respect to orders worth Rs.3,550 crore. These include power transmission-related orders valued at Rs.652 crore and smart metering orders worth over Rs.2,800 crore.
- These L1-smart metering orders are distributed over Jharkhand, UT of Jammu & Kashmir and Tripura. Together, they envisage the deployment of over 23 lakh smart meters.
- TEECL had a bidding pipeline of Rs.5,000 crore as of November 16, 2023, and it was hopeful of bagging orders worth Rs.2,000 crore from the same.
- The company is hopeful of opportunities in providing capacitive reactive power management solutions to the grid, arising from the growing renewable energy capacity.
- The total business opportunity in the power transmission space is around Rs.40,000 crore out of which Techo Electric is hopeful of landing orders worth Rs.3,000 crore, over the next 3-5 years.
- Techo Electric has estimated that orders for 22.22 crore meters, worth Rs.2.22 trillion, are under various stages of execution out of which 88 per cent would be under RDSS. The company expects to get smart meter orders worth Rs.2,000 crore to Rs.2,500 crore, every year.
Featured photograph (source: Techno Electric) is for representation only.