Sustainable Vision. Responsible Execution.
Techno Electric & Engineering Company Limited Annual Report 2021- 22
Contents
CORPORATE OVERVIEW
At a Glance | 2 |
Operating Model | 4 |
Investment Case | 6 |
Chairman and Managing | |
Director's Perspective | 8 |
Financial Highlights | 11 |
Business Segment Review | 12 |
Corporate Social Responsibility | 20 |
People Practices | 22 |
Governance | 23 |
Awards and Accolades | 26 |
Key Customer Accounts | 27 |
STATUTORY REPORTS | |
Management Discussion and Analysis | 28 |
Directors' Report | 36 |
Report on Corporate Governance | 54 |
Business Responsibility Report | 72 |
FINANCIAL STATEMENTS | |
Standalone Financial Statements | 80 |
Consolidated Financial Statements | 159 |
FY 2021-22 Highlights
Sustainable Vision. Responsible Execution.
Through our years in the power infrastructure industry, the global energy landscape has evolved considerably, and we have been at par with the pace of transformation. There has been a conscious shift to sustainable energy systems globally, and as a torchbearer of the industry in India, we aspire to drive the nation to its goal of sustainable energy adoption with focus on accelerating business growth.
In this pursuit, we have turned our focus to the installation of Flue Gas Desulphurisation (FGD) plants for coal-based thermal power plants to support India's mission to limit sulphur emissions. We are also developing Advanced Metering Infrastructures (AMI) to track energy usage information, helping the nation manage its electricity consumption. We also have made strategic investments in developing data centre infrastructures and energy storage systems on the back of the industry's significant growth potential.
We have a competitive advantage in the power infrastructure space due to our strong bidding discipline, extensive experience and knowledge, prudent working capital management, and cost-effective execution. These strengths indicate that we are well-positioned to capitalise on the emerging opportunities to deliver steady and profitable growth, and create long-term value for our stakeholders.
₹10,739 Mn | ₹2,222 Mn | ₹2,639 Mn | ₹23.99 |
Revenue from operations | EBITDA | PAT | EPS |
21% y-o-y growth | 3% y-o-y growth | 45% y-o-y growth | 45% y-o-y growth |
Techno Electric & Engineering Company Limited
At a Glance
Energising
India
All through our four-decade journey, we have been developing India's power infrastructure through our Engineering, Procurement, and Construction (EPC) services, Operations
and Maintenance (O&M) services and asset ownership model. Our Company operates across three broad power-related industries including generation, transmission, and distribution.
We help shape the future of India's power sector by providing EPC services to core industries in India and abroad, engaging in Public-Private Partnerships (PPP)
to build transmission networks, and expanding our portfolio in green energy. Our Company is now established in the anti-emission industry and forayed into development of data centres.
2 Annual Report 2021-22
Key Facts
40+ years
of rich experience in the power sector EPC
425+ projects
completed since inception
25+ years
of average experience of core engineering team
350 professionals
in our team from engineering and other specialisations
Corporate Overview | Statutory Reports | Financial Statements |
Business Segments
EPC Services | Public Private Partnership Projects | |
• | Flue Gas Desulfurisation (FGD) plants | • Transmission linkages through Build |
• | Transmission and distribution | Own Operate and Transfer (BOOT) |
- Advanced Metering Infrastructure (AMI) or Smart Metering
- Balance of Plant
- Captive waste heat recovery and up to 200 MW of conventional power plant on turnkey basis
- Solutions for power-intensive industries
- Data Centre Solutions
Read more on Page 12 | Read more on Page 15 |
Green Power | Data Centre | ||||
129.9 MW wind energy generation | • Develop ultra-scalablehyper-density data | ||||
centres of 250 MW by FY30 across India | |||||
Read more on Page 17 | Read more on Page 18 | ||||
3
Techno Electric & Engineering Company Limited
Operating Model
Creating Sustainable Value for Stakeholders
Corporate Overview | Statutory Reports | Financial Statements |
Our dependable and customised
Relationships We Depend On
Sound Fundamentals Solid Execution Sustainable Value
solutions, along with financial discipline, a strong execution track record, and extensive experience, have helped us create long-term value for our stakeholders.
We primarily serve Central Public Sector Undertakings (CPSUs) and state government utilities, but also serve private sector customers for captive power plants and power distribution systems in power- intensive industries.
SHAREHOLDERS
Our shareholders own shares of our Company and expect a return on their investment.
GOVERNMENT AND
REGULATORS
Governments and regulators play a central role in shaping the energy sector.
EMPLOYEES
We rely on our people's collective talent, skill, and values to execute our strategy and achieve our goals.
CUSTOMERS
We strive to meet customer expectations by providing quality services in power generation, transmission and distribution.
SUPPLIERS AND
CONTRACTORS
We rely on our robust vendor ecosystem to deliver projects and ensure our success.
- Strategic bidding discipline
- Strong pan-India presence with experience across regions, markets and customers
- Global alliances with technology leaders
- Prudent project management approach
- Seamless, cost- efficient and time- sensitive delivery
- Commitment to compliance
-
Completing around
400 pan-India projects as a turnkey solutions provider, an independent transmission asset owner and an autonomous wind power producer - Retaining key customer accounts and sharpening bottom-line focus
- Delivering on projects in difficult terrains
- Maintaining a zero- penalty record
- Comprehensive range of niche skills spanning construction, project, procurement, quality assurance, business development, marketing and financial management
- Unmatched levels of quality commitment, environmental management and employee health and safety
- Low balance sheet risk with steadfast profitability levels
- Diversified reach that reinforces our skills and capabilities
- Contribution to the economy by way of payments to the exchequer
- Creation of indirect and direct employment opportunities
- Alignment with India's transition to a low-carbon energy system
- Support to MSME
4 | Annual Report 2021-22 | 5 | |
Techno Electric & Engineering Company Limited
Investment Case
Differentiated Value
Proposition
TEECL is a profitable company with a strong financial profile. Our Company's intent on long-term business growth, efficient execution, and sustained shareholder returns makes it an appealing investment opportunity.
Corporate Overview | Statutory Reports | Financial Statements |
Established Market
Position
We have been in the EPC business for about four decades now and have an established track record in setting up extra high-voltage substations in India. With our high technical capabilities, TEECL has a strong market position having executed 765 kilovolt (KV) extra high-voltage (EHV) substation projects.
Significant Business Growth and Profitability
Our consistent focus on growth is based on our strong fundamentals and it has enabled us to grow our revenue and order book year after year, while maintaining healthy profits.
Revenue from operations
(₹ in Million)
High Operating Efficiency
Our robust technical capabilities, prudent bidding strategy of high-margin orders, and consistent timely delivery of projects have resulted in us achieving industry-leading operating efficiency in our EPC segment which contributes more than 90% of total revenue.
Strong Balance Sheet
We strive to maintain a healthy capital structure that reflects prudent use of debt and equity, while balancing our growth and assets. Since we have a healthy debt profile with a small working capital debt and no long-term debt, we are equipped to capitalise on emerging opportunities without stretching our balance sheet.
FY 2021-22 | 10, 739 | ||
8,892 | |||
FY 2020-21 | |||
8,762 | |||
FY 2019-20 | |||
PAT
(₹ in Million)
FY 2021-22 | 2,639 | ||
1,818 | |||
FY 2020-21 | |||
1,802 | |||
FY 2019-20 | |||
ROCE of EPC
(%)
FY 2021-22 | 63% | |
FY 2020-21 | 68% | |
FY 2019-20 | 67% | |
6 | Annual Report 2021-22 | 7 | |
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Techno Electric and Engineering Co. Ltd. published this content on 01 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 September 2022 11:00:00 UTC.