Engineering - Construction · Founded 1980 · www.techindianirman.com · BSE 526576 · NSE TECHIN · ISIN INE778A01021
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Business
TechIndia Nirman Ltd. operates in the Engineering - Construction sector in India. As an engineering and construction company, its core business involves undertaking complex projects from design and engineering through procurement and construction (EPC) for various clients. The company typically executes projects across different infrastructure sub-sectors, industrial facilities, and possibly commercial or residential buildings. It makes money by winning contracts, executing projects within budget and timelines, and receiving payments based on milestones achieved or upon project completion.
Revenue Mix
Specific breakdown of revenue contribution by segment is not available from the provided information. However, typical segments for an Indian engineering and construction company might include:
Infrastructure: Roads, bridges, highways, railways, metros, airports.
Water & Environment: Water supply, irrigation, wastewater treatment, sanitation.
Buildings: Commercial, residential, institutional structures.
Industrial: Power plants, factories, industrial complexes.
Urban Infrastructure: Smart cities projects, urban development.
Without further information, the exact mix remains speculative, but these are common areas of operation.
Industry
The Indian Engineering - Construction industry is highly competitive, capital-intensive, and cyclical, heavily influenced by government spending on infrastructure and private sector investment. It is characterized by the presence of large, diversified players, mid-sized regional companies, and numerous smaller contractors. TechIndia Nirman Ltd. would likely compete on factors such as project execution capabilities, technical expertise, financial strength, and relationships with clients (especially government entities and PSUs). Its specific positioning (e.g., niche player, diversified giant, regional leader) would depend on its project portfolio, geographical reach, and scale of operations, which is not detailed here.
MOAT
Given the general nature of the industry, potential competitive advantages for TechIndia Nirman Ltd. could include:
Execution Capability & Track Record: A proven history of timely and quality project delivery, especially for complex or large-scale projects, which builds client trust and allows for repeat business.
Technical Expertise: Specialized skills in niche areas of construction (e.g., tunnels, complex bridges, specific industrial facilities) that differentiate it from general contractors.
Client Relationships: Strong, long-standing relationships with key government agencies, public sector undertakings, or large private clients, which can provide a pipeline of projects.
Financial Strength: Access to capital and efficient working capital management to bid for and execute large projects requiring significant upfront investment.
Without specific information on TECHIN, the existence and strength of these moats are inferred possibilities rather than confirmed attributes.
Growth Drivers
Key factors that could drive growth for TechIndia Nirman Ltd. over the next 3-5 years include:
Government Infrastructure Push: Continued high capital expenditure by the Indian government on infrastructure projects (e.g., National Infrastructure Pipeline, Gati Shakti scheme) across roads, railways, ports, and urban development.
Urbanization & Real Estate Development: Growing demand for urban infrastructure, commercial, and residential spaces driven by population growth and migration to cities.
Industrial Expansion: Investment in manufacturing, logistics, and industrial parks as India aims to boost its industrial output.
Water & Environment Projects: Increased focus on water infrastructure, wastewater treatment, and sanitation projects due to environmental concerns and public health initiatives.
Technological Adoption: Adoption of new construction technologies (e.g., prefabrication, digital construction) leading to improved efficiency and new project opportunities.
Risks
Key business risks for TechIndia Nirman Ltd. include:
Project Execution Risks: Delays in obtaining approvals, cost overruns, labor availability issues, and unforeseen site conditions impacting project profitability and timelines.
Payment & Receivable Risks: Delays or disputes in receiving payments from clients, particularly government agencies, leading to working capital strain.
Intense Competition: Fierce competition from domestic and international players, leading to pressure on profit margins during bidding.
Economic Cycles: The construction industry is highly sensitive to economic downturns, interest rate fluctuations, and changes in government policy.
Regulatory & Environmental Risks: Changes in environmental norms, land acquisition challenges, and other regulatory hurdles can delay projects.
Input Cost Volatility: Fluctuations in prices of key raw materials like steel, cement, and fuel can impact project costs and margins.
Management & Ownership
As is common with many Indian companies, TechIndia Nirman Ltd. is likely promoter-led, with the founding family or group holding a significant ownership stake and influencing strategic direction. Management quality would depend on their experience in the engineering and construction sector, track record of project delivery, and financial stewardship. Ownership would typically consist of the promoter group, institutional investors, and public shareholders. Specific details on the quality of management and the exact ownership structure are not provided.
Outlook
TechIndia Nirman Ltd., operating in the Indian Engineering - Construction sector, is poised to benefit from India's robust infrastructure development agenda and urbanization trends. The government's continued focus on capital expenditure in roads, railways, urban infrastructure, and water projects provides a substantial project pipeline. However, the company faces inherent industry challenges such as intense competition, project execution risks, and sensitivity to economic cycles and input cost volatility. Its ability to secure profitable contracts, manage projects efficiently, maintain strong client relationships, and effectively manage working capital will be crucial for sustained growth in this dynamic and competitive environment.
| #(Fig in Cr.) | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Expenditure | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Profit | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Adjustments | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 |
| Profit After Adjustments | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Adjusted Earnings Per Share | -0 | -0.1 | -0.3 | -0 | -0 | -0.2 | -0.1 | -0 | -0 | -0.2 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Expenditure | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Operating Profit | -0 | -0 | -0 | 0 | -0 | -0 | -0 | -0 | -0 | -0 | -1 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 2 | -0 | -0 | -0 | -0 | -1 | -0 | -1 | -0 | -0 | -1 | 0 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | 2 | -0 | -0 | -0 | -0 | -1 | -0 | -1 | -0 | -0 | -1 | 0 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 2 | -0 | -0 | -0 | -0 | -1 | -0 | -1 | -0 | -0 | -1 | 0 |
| Adjusted Earnings Per Share | 1.6 | -0.1 | -0.2 | -0.2 | -0.2 | -0.4 | -0.3 | -0.4 | -0.2 | -0.3 | -0.6 | -0.3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | 0% | 0% | 0% |
| Operating Profit CAGR | 0% | 0% | 0% | 0% |
| PAT CAGR | 0% | 0% | 0% | NAN% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 0% | 2% | 17% | 9% |
| ROE Average | -7% | -4% | -4% | -3% |
| ROCE Average | -1% | -1% | -1% | 7% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 20 | 20 | 15 | 15 | 14 | 14 | 13 | 12 | 12 | 12 | 11 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 9 | 10 | 11 | 49 | 52 | 54 | 57 | 58 | 72 | 81 | 75 |
| Total Liabilities | 29 | 30 | 27 | 65 | 67 | 68 | 70 | 71 | 85 | 92 | 85 |
| Fixed Assets | 26 | 26 | 23 | 23 | 23 | 23 | 22 | 22 | 22 | 22 | 22 |
| Other Non-Current Assets | 1 | 1 | 1 | 4 | 2 | 4 | 5 | 48 | 47 | 64 | 53 |
| Total Current Assets | 2 | 3 | 3 | 38 | 42 | 42 | 43 | 1 | 16 | 6 | 10 |
| Total Assets | 29 | 30 | 27 | 65 | 67 | 68 | 70 | 71 | 85 | 92 | 85 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow from Operating Activities | 1 | -1 | -1 | -38 | -0 | -0 | -1 | -1 | -15 | -12 | 14 |
| Cash Flow from Investing Activities | 0 | 0 | 0 | 0 | -6 | -1 | -1 | -1 | 1 | 4 | 0 |
| Cash Flow from Financing Activities | -1 | 1 | 1 | 38 | 6 | 2 | 3 | 2 | 14 | 8 | -10 |
| Net Cash Inflow / Outflow | -0 | -0 | 0 | -0 | 0 | -0 | 0 | 0 | 0 | 0 | 4 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 1.56 | -0.14 | -0.23 | -0.2 | -0.17 | -0.42 | -0.33 | -0.37 | -0.25 | -0.28 | -0.58 |
| CEPS(Rs) | 1.58 | -0.12 | -0.21 | -0.18 | -0.16 | -0.4 | -0.31 | -0.35 | -0.23 | -0.26 | -0.55 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | -4.57 | -4.71 | 10.41 | 10.21 | 10.04 | 9.61 | 9.06 | 8.7 | 8.48 | 8.2 | 7.62 |
| Core EBITDA Margin(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EBIT Margin(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pre Tax Margin(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PAT Margin (%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Profit Margin (%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| ROA(%) | 7.89 | -0.69 | -1.15 | -0.62 | -0.38 | -0.9 | -0.68 | -0.75 | -0.45 | -0.45 | -0.93 |
| ROE(%) | 0 | 0 | -8.07 | -1.93 | -1.72 | -4.3 | -3.53 | -4.13 | -2.85 | -3.32 | -7.3 |
| ROCE(%) | 82.87 | -5.33 | -2.1 | 0.17 | -0.38 | -0.49 | -0.68 | -0.74 | -0.45 | -0.42 | -0.7 |
| Receivable days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PER(x) | 2.24 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Price/Book(x) | -0.77 | -0.71 | 0.47 | 0.89 | 0.57 | 0.16 | 0.29 | 1.39 | 0.8 | 3.72 | 2.64 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Core EBITDA(x) | -1070.3 | -89.96 | -62.78 | 597.89 | -273.16 | -186.39 | -136.85 | -152.53 | -252.27 | -361.62 | -167.44 |
| Net Sales Growth(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EBIT Growth(%) | 469.89 | -109.02 | -61.86 | 124.23 | -412.99 | -32.82 | -42.4 | -11.34 | 32.9 | -5.31 | -65.25 |
| PAT Growth(%) | 469.8 | -109.02 | -62.89 | 13.23 | 12.9 | -142.86 | 21.94 | -11.4 | 33.23 | -13.08 | -108.36 |
| EPS Growth(%) | 469.77 | -109.03 | -62.82 | 13.23 | 12.9 | -142.86 | 21.94 | -11.38 | 33.22 | -13.06 | -108.41 |
| Debt/Equity(x) | -1.56 | -1.72 | 0.8 | 3.41 | 3.65 | 3.95 | 4.38 | 4.69 | 5.95 | 6.84 | 6.42 |
| Current Ratio(x) | 0.17 | 0.26 | 0.29 | 0.76 | 0.8 | 0.77 | 0.75 | 0.02 | 0.22 | 0.08 | 0.14 |
| Quick Ratio(x) | 0.17 | 0.26 | 0.29 | 0.76 | 0.8 | 0.77 | 0.75 | 0.02 | 0.06 | 0.01 | 0.06 |
| Interest Cover(x) | 0 | -3244.91 | -150.68 | 0.22 | -306.29 | -1.2 | -180.5 | -163.28 | -876.5 | -99.78 | -3.81 |
| Total Debt/Mcap(x) | 1.8 | 2.17 | 1.71 | 3.84 | 6.37 | 24 | 14.87 | 3.37 | 7.42 | 1.84 | 2.43 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 18.42 | 18.42 | 18.04 | 17.52 | 17.52 | 17.52 | 17.52 | 17.52 | 17.52 | 17.52 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 |
| Public | 81.54 | 81.54 | 81.92 | 82.44 | 82.44 | 82.44 | 82.44 | 82.44 | 82.44 | 82.44 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.26 | 0.26 | 0.26 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 1.17 | 1.17 | 1.17 | 1.18 | 1.18 | 1.18 | 1.18 | 1.18 | 1.18 | 1.18 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.43 | 1.43 | 1.43 | 1.43 | 1.43 | 1.43 | 1.43 | 1.43 | 1.43 | 1.43 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | — | — | — | — |
| Operating Profit CAGR | — | — | — | — |
| PAT CAGR | — | — | — | 0% |
| Share Price CAGR | 0% | +2% | +17% | +9% |
| ROE Average | -7% | -4% | -4% | -3% |
| ROCE Average | -1% | -1% | -1% | +7% |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 18.42 | 18.42 | 18.04 | 17.52 | 17.52 | 17.52 | 17.52 | 17.52 | 17.52 | 17.52 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 |
| Public | 81.54 | 81.54 | 81.92 | 82.44 | 82.44 | 82.44 | 82.44 | 82.44 | 82.44 | 82.44 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.26 | 0.26 | 0.26 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 1.17 | 1.17 | 1.17 | 1.18 | 1.18 | 1.18 | 1.18 | 1.18 | 1.18 | 1.18 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.43 | 1.43 | 1.43 | 1.43 | 1.43 | 1.43 | 1.43 | 1.43 | 1.43 | 1.43 |
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