Techno Electric & Engineering Company Limited

TEECL is a leading EPC services company in India’s power sector. The Company provides engineering, procurement, and construction services to all three industry segments(generation, transmission and distribution). It was engaged in setting up (in one capacity or other) over 50% of India’s thermal power generating capacity and a major portion of the national power grid. The Company also possesses specific domain knowledge that enables it to serve the EPC needs of power, steel, fertiliser, metals and petrochemicals sectors, among others. The Company is headquartered in Kolkata, West Bengal (India) with marketing offices in three Indian states. The Company employs 400 professionals (engineering, commercial, graduates and postgraduates). Business Model of the Company:1. EPC : They provide EPC services to all three segments of India’s power sector – generation, transmission and distribution.2. Wind Generation : They are an independent renewable energy producer with 129.9 MW wind energy capacity.3. PPP : They are associated with building transmission linkages. They have a 25- year concession in consortium with Kalpataru Power for a transmission link at Jhajjar, Haryana. The financials of the company looks very good, RoNW is 32.87% and at CMP its looks fully priced. As per March 31, 2018 possible acceptance ratio looks very high and there may be very good short term gain. So we give SUBSCRIBE rating to this buyback.

• 1 Mr. Rajesh Pirogiwal
• 2 Mrs. Sunita Pirogiwal
• 3 Miss Tanvi Pirogiwal