Techno Electric & Engineering Company Limited (TECHNOE.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-90.6%

₹80.34

vs ₹853.20 price

Levered DCF

-₹47.84

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	24.18×	30.8×	31.79×	38.19×	11.21×	18.56×	14.64×	15.42×
P/B	2.76×	3.19×	3.98×	1.88×	1.45×	2.04×	1.71×	2×
P/S	3.52×	5.25×	5.73×	4.38×	2.67×	3.71×	2.92×	2.88×
EV / EBITDA	18.77×	34.86×	40.98×	40.91×	13.66×	15.13×	11.68×	11.31×
Gross margin	17.7%	22.1%	22.6%	24.3%	25.1%	36.0%	36.4%	35.9%
Operating margin	13.7%	18.9%	19.2%	18.1%	20.7%	31.5%	31.3%	31.2%
Net margin	14.6%	18.6%	17.9%	22.5%	26.4%	20.4%	20.4%	19.6%
Current ratio	4.06×	4.7×	4.3×	4.43×	4.78×	3.74×	3.31×	3.33×
Debt / equity	0.02×	0.01×	0×	0×	0×	0.02×	0×	0.03×
Interest coverage	23.09×	39.86×	17.59×	14.06×	32.36×	29.83×	218.21×	23.07×
Dividend yield	0.9%	0.7%	0.7%	0.6%	1.9%	2.0%	0.0%	0.0%
Payout ratio	22.1%	19.2%	24.1%	11.8%	18.7%	36.3%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	11.4%	11.3%	12.4%	9.7%	14.4%	11.2%	12.0%	13.6%
Return on invested capital	7.4%	8.1%	10.7%	4.6%	7.9%	12.1%	13.7%	13.5%
Return on assets	8.0%	8.4%	9.5%	6.7%	10.5%	8.3%	8.6%	9.6%
Free cash flow yield	-4.9%	2.9%	-4.4%	0.9%	8.4%	3.8%	4.3%	6.9%
Earnings yield	4.1%	3.5%	3.1%	5.1%	9.9%	5.5%	7.0%	6.8%
Enterprise value	₹114.8B	₹118.3B	₹85.8B	₹35.8B	₹26.2B	₹32.7B	₹25.2B	₹28.4B
Net debt / EBITDA	0.03×	-0.27×	-0.16×	-0.55×	-0.24×	-0.16×	-0.17×	-0.01×
Cash conversion cycle (days)	144	-70	23	179	124	109	51	89