Techno Electric & Engineering : Annual Report 2022-23

Contents

Corporate Overview

About TEECL	04
Operating Model	06
Investment Case	08

Performance Summary

Chairman and Managing Director's Perspective	10
Financial Highlights	14
Business Segment Review	16

Beyond Business

ESG Focus Areas	24
Social	26-29
People	26
Communities	28
Governance	30-33
Board Profiles	32
Awards and Accolades	34
Key Customer Accounts	35

Statutory Reports

Management Discussion and Analysis	36
Directors' Report	46
Report on Corporate Governance	66
Business Responsibility & Sustainability Report	84

Financial Statements

Standalone Financial Statements	108
Consolidated Financial Statements	208

Techno Electric & Engineering Company Limited

Future-Ready Solutions for Sustainable Growth

The power sector in India is undergoing a transformative phase,

with significant reforms and a convergence of power and energy sectors. The government's focus on strengthening the power infrastructure through Flue Gas Desulphurisation (FGD), future-ready transmission, and smart meters offers growth opportunities. Additionally, the surging demand for data centres in the digital era opens up new growth potential.

As a leading EPC player, we have aligned our focus with this transformation. We have fortified our capabilities in FGD and Advanced Metering Infrastructure (AMI), enabling us to meet the evolving environmental and technological demands in the power sector. Additionally, we ventured into the fast-growing data centre market to empower businesses by providing them with ultra scale hyper-density data centre infrastructures, driving India's digital transformation.

As we embark on this journey, we equally prioritise the safety and well-being of our workforce, uplift marginalised communities and contribute to a greener, more sustainable future.

02 Annual Report 2022-23

Corporate			Performance		Beyond		Statutory		Financial
Overview			Summary		Business		Reports		Statements

FY 2022-23 HIGHLIGHTS

• 10,450.83 mn

Revenue from operations

• 1,808.09 mn

EBITDA

• 2,183.75 mn

PAT *

• 19.99

EPS

*Includes profit from selling of our discontinued operations

03

Techno Electric & Engineering Company Limited	Corporate
Overview

Performance Summary

Beyond Business

Statutory Reports

Financial Statements

ABOUT TEECL

Advancing India's

Power Infrastructure

At Techno Electric and Engineering Company Ltd. (TEECL), we are at the forefront of India's power-infrastructure sector, leading in Engineering, Procurement, and Construction (EPC) services across power generation, transmission, and distribution catering to diverse industries.

Domains of Operations

Over the past two years, we have increased our focus on Flue Gas Desulphurisation (FGD) plant, Advanced Metering Infrastructure (AMI) and Data Centre solutions.

EPC Services

Green Power

Beyond our core EPC offerings, we have been focusing on being future- ready and high-growth segments, offering Flue Gas Desulphurisation (FGD), Advanced Metering Infrastructure (AMI) and end-to-end data centre solutions. Our commitment to quality management, strategic alliances with

KEY FACTS

40+ years

• Flue Gas Desulphurisation (FGD) plants	21 MW wind energy generation assets
•	Transmission and Distribution	•	Karnataka: 18 MW
•	Balance of Plant	•	Tamil Nadu: 3 MW

cutting-edge technology manufacturers, a skilled workforce, and resourceful financing enable us to deliver comprehensive and efficient services to India's core industries.

Rich experience in the power sector

EPC

450+

Projects completed since inception

25+ years

Average experience of core engineering team

400+

Employees

• Captive waste heat recovery and up to 200 MW of conventional power plant on turnkey basis

Read more Page 17

Advanced Metering Infrastructure (AMI)

We operate in the AMI or smart meter segment through both EPC and project bidding on a contract basis or under DBFOOT or TOTEX model.

Read more Page 20

Read more Page 21

Data Centre

From land acquisition and site assessment study to design and engineering, civil, structural and electro-mechanical works including power intake solutions works, commissioning and obtaining statutory approvals, we offer end-to-end data centre solutions.

Read more Page 22

CHERISHING KEY MILESTONES

1980	2009	2010	2019	2021	2022
Launched	Entered Renewable	Initiated Transmission	Started	Forayed into Data	Initiated Advanced Marketing
EPC Services	Energy Generation	Asset Ownership	FGD Projects	Centre Market	Infrastructure (DBFOOT Model)

04

Annual Report 2022-23	05

Techno Electric & Engineering Company Limited	Corporate
Overview

Performance Summary

Beyond Business

Statutory Reports

Financial Statements

OPERATING MODEL

Our Holistic Value Creation Approach

Our robust business model enable us to generate value for stakeholders, including customers, investors, employees, customers, partners and communities. We prioritise their growth and well-being, building strong relationships and aligning efforts with their unique needs. This approach fosters a thriving ecosystem that empowers and uplifts everyone involved, driving sustainable growth.

Input Resources Sound Fundamentals Solid Execution Value Created

Financial Resources

Leveraging our strong balance sheet and efficient

Strategic bidding discipline

Accomplishing 450+ pan-India projects as a turnkey solutions

Shareholders

capital management, we strive to create sustained value for shareholders, driving growth and delivering consistent returns.

₹ 19,580 mn		₹ 15,927 mn
Total Equity		Net Cash and Cash Equivalents

Project Execution Capabilities

Strong pan-India presence with experience across regions, markets and customers

Global alliances with

provider, independent transmission asset owner, and autonomous wind power producer

Retaining key customer accounts and enhancing

₹ 10,450.82 mn

Revenue

from Operations

₹ 1,808.09 mn

EBITDA

₹ 2,183.7 mn

PAT

₹ 6

Dividend per share

With a strong commitment to client satisfaction, we leverage our strong execution excellence to provide high- quality services, ensuring timely completion of projects.

EPC		AMI		Data
Services				Centres

Human Resources

We ensure to upskill our employees through effective training and recognise their excellence at work through rewards.

400+	223
Total Employees	Engineers

Relationships We Depend Upon

We are committed to collaborative solutions, fostering strong partnerships with our suppliers, contractors, government and regulators, and communities for mutual growth and success.

₹ 38.60 mn

CSR Expenditure

technology leaders

Prudent project management approach

Seamless, cost efficient and time sensitive delivery

Commitment to compliance

bottom-line focus

Successfully delivering projects in challenging terrains

Maintaining an impeccable zero-penalty record

Customers

450+

Project Executed across

Diverse Segments

Employees

Creation of indirect and direct employment opportunities

898		65
Total		New Employees Hired
Training hours		during FY 2022-23

Communities, Partners and Government

Our commitment to collaborative solutions has helped us establish strong, trusted relationship the stakeholders and make a meaningful impact on society.

06

Annual Report 2022-23	07