Techno Electric & Engineering Q2 Results 2024:Techno Electric & Engineering declared their Q2 results for the fiscal year 2024 on 14th November 2024, revealing a challenging quarter for the company. The financial report showed that the topline revenue decreased significantly by 40.04% year-over-year, leading to a profit of ₹94.21 crore, which marks a decline of 4.88% compared to the same period last year.
Despite the year-over-year decline, there was a notable improvement in performance compared to the previous quarter, with revenue increasing by 17.6%. However, profit saw a slight decrease of 3.97% sequentially. The company’s selling, general, and administrative expenses rose by 17.71% quarter-over-quarter but witnessed a substantial decrease of 30.3% year-over-year.
The operating income for the quarter was reported to be up by 35.25% compared to the previous quarter, although it decreased by 28.09% year-over-year. Earnings per share (EPS) for Q2 stood at ₹8.22, reflecting a decline of 12.9% when compared to the same quarter last year.
In terms of stock performance, Techno Electric & Engineering has seen a return of -14.88% in the last week, while exhibiting a 25.8% return over the past six months and an impressive 75.28% year-to-date return. The company currently holds a market capitalization of ₹16,305.2 crore, with a 52-week high of ₹1,822 and a low of ₹605.
Analyst sentiment remains mixed as of 14th November 2024, with one analyst giving a Sell rating, another recommending Buy, and a third suggesting a Strong Buy. The consensus recommendation as of this date is to Buy, indicating a cautious optimism about the company’s future prospects despite the recent quarterly results.
Techno Electric & Engineering Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 441.42 | 375.37 | +17.6% | 736.22 | -40.04% |
| Selling/ General/ Admin Expenses Total | 15.49 | 13.16 | +17.71% | 22.23 | -30.3% |
| Depreciation/ Amortization | 2.02 | 1.93 | +4.61% | 3.86 | -47.61% |
| Total Operating Expense | 373.24 | 324.96 | +14.86% | 641.41 | -41.81% |
| Operating Income | 68.18 | 50.41 | +35.25% | 94.81 | -28.09% |
| Net Income Before Taxes | 105.33 | 71.91 | +46.48% | 146.63 | -28.16% |
| Net Income | 94.21 | 98.1 | -3.97% | 99.04 | -4.88% |
| Diluted Normalized EPS | 8.22 | 4.95 | +65.98% | 9.44 | -12.9% |
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