Techno Electric & Engineering Company Limited has strategically reallocated ₹200 crore from its ₹1,250 crore Qualified Institutional Placement (QIP) following the cancellation of the NERGS-I project by the Government of India. The reallocation redirects funds to the company's Chennai data center development project, demonstrating adaptive capital deployment in response to regulatory changes.

QIP Fund Reallocation Details

CARE Ratings Limited, serving as the monitoring agency, reported the fund reallocation for the quarter ended December 31, 2025. The company obtained board approval on August 12, 2025, for the revised allocation structure.

Project Utilization Progress

The monitoring report reveals varying levels of fund deployment across different project categories. The AMI Solutions projects have achieved complete utilization of their ₹200.00 crore allocation, while other projects show partial deployment.

Unutilized Fund Management

The company has deployed ₹226.68 crore of unutilized proceeds in mutual fund investments, generating returns of 10.96%. These funds are invested in ultra short-term funds from ICICI and Axis, with a combined market value of ₹251.53 crore as of December 31, 2025.

Regulatory Compliance and Monitoring

CARE Ratings Limited confirmed that all necessary government approvals remain in place for the revised project allocations, except for the cancelled NERGS-I project. The monitoring agency noted that technical assistance arrangements are operational and no unfavorable events affect project viability. The reallocation maintains compliance with SEBI regulations governing QIP fund utilization and monitoring requirements.

Implementation Timeline

The report indicates delays in certain project implementations compared to original timelines. The power transmission projects show utilization below projected schedules, while the Chennai data center project has deployed ₹515.00 crore of its revised ₹550.00 crore allocation. The company continues to progress with remaining fund deployment according to revised business priorities and market conditions.

Techno Electric & Engineering Company Limited announced its Q3FY26 quarterly results for the quarter ended 31 December 2025, showcasing robust financial performance across both standalone and consolidated operations. The Board of Directors approved the unaudited standalone and consolidated financial results in their meeting held on 10 February 2026.

Standalone Financial Performance

The company delivered strong standalone results for Q3FY26, demonstrating significant growth across key financial metrics.

For the nine-month period ended 31 December 2025, standalone revenue from operations reached ₹22,093.08 millions compared to ₹15,898.27 millions in the corresponding period of the previous year. The profit after tax for the nine-month period stood at ₹3,984.99 millions, including ₹251.67 millions from discontinued operations.

Consolidated Financial Results

The consolidated financial performance reflected the combined strength of the company and its subsidiaries, showing healthy growth momentum.

On a consolidated basis, the nine-month revenue from operations was ₹22,415.96 millions versus ₹14,528.68 millions in the previous year. The consolidated profit after tax for the nine-month period reached ₹3,593.53 millions, compared to ₹2,882.99 millions in the corresponding period.

Earnings Per Share and Capital Structure

The company maintained consistent capital structure with paid-up equity share capital of ₹232.60 millions (face value ₹2 each). Earnings per share performance showed substantial improvement:

For the nine-month period, standalone earnings per share reached ₹34.26 while consolidated earnings per share stood at ₹30.89.

Key Financial Highlights

The company's financial results included several notable aspects. Other comprehensive income for the quarter showed exchange differences on translation of foreign operations of ₹59.37 millions on a consolidated basis. The results also reflected discontinued operations contributing ₹251.67 millions to the nine-month profit after tax.

The auditor's review report highlighted trade receivables and other financial assets aggregating to ₹885.28 millions that are pending settlement and substantially overdue as on 31 December 2025. However, management believes these balances are fully recoverable based on internal assessment, external legal opinions, and interim favorable regulatory orders.

Board Meeting Details

The Board of Directors meeting commenced at 4:30 PM and concluded at 5:30 PM on 10 February 2026. The meeting approved and took on record the unaudited standalone and consolidated financial results along with the review report issued by statutory auditors Walker Chandiok & Co LLP, Chartered Accountants, in compliance with Regulation 33 of the SEBI Listing Obligations and Disclosure Requirements Regulations 2015.