The members of
 Techno Electric & Engineering Company Limited
 
 The Directors take pleasure in presenting the 6th annual report, along
 with the audited accounts of the Company, for the year ended March 31,
 2011.
 
 Financial results
 
 Your Company''s operations during the financial year ended March 31,
 2011 which comprises the EPC business and energy sale (power) business
 resulting in:
 
                                                  (Rs. in Lakhs)
                                Year ended         Year ended  
                                March 31,2011      March 31,2011
 Profit before interest and 
 depreciation                       15,930.63          16,435.22
 
 Less : Interest                     1,824.56           1,282.72
 
 Depreciation                        1,505.11           1,467.15
 
 Profit before tax                  12,600.96          13,685.35
 
 Provision for taxation              2,511.92           2,303.99 
 (including deferred income
 tax, fringe benefit tax 
 and security transaction tax)
 
 Profit after taxation              10,089.04          11,381.36
 
 Acquired on Amalgamation                   -               1.24
 
 Balance brought forward from 
 previous year                           1.52            (346.62)
 
 
                                    10,090.56          11,035.98 
 
 
 Appropriations
 
 Transfer to general reserve         8,763.00           7,883.00
 
 Transfer to Debenture Redem
 ption Reserve                              -           1,820.00
 
 Proposed dividend                   1,141.82           1,141.82
 
 Provision for tax on propo
 sed dividend                          185.23             189.64
 
 Surplus carried to balance 
 sheet                                   0.51               1.52
 
 
                                    10,090.56          11,035.98
 
 
 Dividend
 
 Your Directors recommended a dividend of Rs. 2 per equity share of a
 nominal value of Rs. 2 each.
 
 Review of operations
 
 The Company operations in 2010-11 comprised EPC business and generation
 and sale of energy. During the year, the Company achieved a turnover of
 Rs. 68,110.81 Lakhs and profit after tax of Rs. 10,089.04 Lakhs. The
 Company operates
 
 mainly in two segments i.e. EPC and energy sale (power) within the
 power sector.
 
 Energy sale (power)
 
 The Company is engaged in power generation through wind turbine
 generators (WTGs) at various locations in Tamil Nadu and Karnataka with
 a total aggregate-rated generating capacity of 45 MW. The Company sold
 95.28 million units of energy (power) during 2010-11, earning a revenue
 of Rs. 3,228.72 Lakhs.
 
 EPC Business
 
 During the year 2010-11 the following projects were completed
 successfully:
 
 1.  Turnkey execution of 220 KV Switchyard (Extension) package for
 Harduagunj Thermal Power Plant (2x250MW) of UP Rajya Vidyut Utpadan
 Nigam Ltd, Lucknow under Technical Consultancy of NTPC Limited.
 
 2.  Turnkey execution of R&M Package for 220/132/33 KV Grid Sub-Station
 at Biharsheriff and 132/33 KV Grid Sub-Station at Baripahari for BSEB,
 Patna.
 
 3.  Extension Bays work for Sub-Station Package-C for Sub-Transmission
 system associated with BSTS, Phase-II, Part-II of BSEB from Power Grid
 Corporation of India Ltd, Patna.
 
 4.  220/132/33 KV Koderma Sub-Station including D/C LILO of 132 KV
 Barhi-Koderma Line for DVC.
 
 5.  Supply, fabrication, erection and installation of Aluminium Busbar
 to supply 390 KA Power Distribution system for Aluminium Smelter
 Expansion Projects (Phase-II), Jharsuguda, Orissa for Vedanta Aluminium
 Ltd.
 
 6.  Ash Water Re-circulation and Treatment System package for Farakka
 STPP, Stage-III (1x500 MW) and Korba STPP, Phase-II (1x500 MW) of NTPC
 Ltd.
 
 7.  Fuel Oil Handling System for 2 x 500 MW Units at Durgapur TPS of
 DVC, West Bengal for BHEL, New Delhi.
 
 8.  Fuel Oil Handling System for 2 x 500 MW Units at Koderma TPS,
 Jharkhand of DVC, West Bengal for BHEL, New Delhi.
 
 9.  Miscellaneous Tank package for 2 x 500 MW Units at Durgapur TPS of
 DVC, West Bengal for BHEL, New Delhi.
 
 10.  Miscellaneous Tank package for 2x500 MW Units at Koderma TPS,
 Jharkhand of DVC, West Bengal for BHEL, New Delhi.
 
 The following projects are on-going and are in an advanced stage of
 completion and are expected to be completed as per schedule:
 
 1.  Cabling, earthing, lightning protection, illumination, plant
 communication system, DC power supply system and stand-by power supply
 system for Harduagunj Power Plant extension (2x250 MW) for UP Rajya
 Vidyut Utpadan Nigam Ltd, Lucknow through NTPC Consultancy Ltd.
 
 2.  Turnkey supply of Station Piping Package including Fuel Oil System
 for Vallur Thermal Power Project (3x500 MW) of NTPC-Tamil Nadu Energy
 Company Ltd.
 
 3.  Station Piping package for Bongaigaon Thermal Power Plant (3x250
 MW) for NTPC Ltd, New Delhi.
 
 4.  Ash Water Re-circulation package for Simhadri Thermal Power Project
 for NTPC Ltd, New Delhi.
 
 5.  Turnkey execution of 400/132 KV Switchyard for Kameng Hydroelectric
 Project (Package-VI), Arunachal Pradesh for NEEPCO Ltd, Shillong.
 
 6.  Turnkey execution of 220/132 KV End Bay works under Package-LL1A
 and LL2A of Partnership Agreement with MSETCL as associate of KPTL,
 Ahmedabad.
 
 7.  Turnkey execution of 132/33 KV Sub-Station along with 2 Nos. 132 KV
 Line Bays at 220/132/33 KV Satgachia Sub-Station (Extension) in
 Bardhaman District of West Bengal for WBSEB.
 
 8.  Turnkey construction of 132/33 KV Sub-Station at Kurseong,
 Darjeeling for West Bengal State Electricity Transmission Co Ltd.
 
 9.  Supply, erection, testing and commissioning of power infrastructure
 work comprising Sub-Transmission lines, 33/11KV new Sub-Stations,
 Augmentation of existing Sub-Stations, installing new and augmentation
 of existing Distribution Transformers of varying capacities, renovation
 and modernization work in Bhokar and Nanded Divisions under Nanded
 Circle of Latur Zone for Maharashtra State Electricity Distribution co
 Ltd.
 
 10. Turnkey execution of RGGVY work in Madhepura and Saharsa Districts
 of Bihar in XIth Plan for BSEB, Patna.
 
 During the year the Company was exceptionally successfu in bagging many
 prestigious orders aggregating more than Rs. 1,000 Cores, the major
 amongst them are:
 
 1.  Supply of 2 x 24 Bays, 400/220 KV, 1500 MVA Sub- Stations on
 turnkey basis for Jhajjar Power Transmission System at Rohtak and
 Sonepat
 
 2.  Establishing of 2x315 MVA, 400/220/33 KV Sub-
 
 Station at Chittorgarh and 400/220 KV Bays at existing 400 KV GSS
 Bhilwara of Rajasthan Rajya Vidyut Prasaran Nigam Ltd, Jaipur.
 
 3.  Construction of new 132 KV Sub-Stations under Assam Power Sector
 Enhancement Investment Programme of Assam Electricity Grid Corporation
 Ltd.
 
 4.  Turnkey execution of 400 KV Sub-Stations at Ashta, Pithampur and
 Chhegaon of Madhya Pradesh Power Transmission Co Ltd.
 
 5.  Turnkey execution of 132 KV Sub-Stations at Nathnagar, Chakia,
 Siddequipur of UP Power Transmission Corporation Ltd, Lucknow.
 
 6.  Execution of field works including ETC work for installation of 73
 Nos. 765 KV Reactors Package of TBEA Shenyang Transformer Group Co. Ltd
 at different locations in Northern India for Power Grid Corporation of
 India Ltd.
 
 7.  ETC of 765 KV Switchyard for 6x660 MW Sasan Ultra Mega Power Plant
 at Singrauli of Reliance
 
 Infrastructure Ltd.
 
 8.  1 x 45 MW Captive Power Plant at Rourkela (Orissa) for Adhunik
 Metaliks Ltd - Supply of BOP Package of Thyssenkrupp Industries India
 Pvt Ltd.
 
 9.  Turnkey execution of Fuel Oil Handling and Storage system for 1x231
 MW IOCL Paradip Refinery through BHEL, New Delhi.
 
 10. Supply, erection and commissioning of Fuel Oil Handling system for
 2x600 MW Shrisingaji Thermal Power Project through BHEL, New Delhi.
 
 11.  Engineering, procurement of materials, proto making, fabrication,
 erection, alignment, orientation, inspection, testing etc. of the 360
 KA Busbar system meeting Aluminium Pachiney''s specifications and norms
 for Mahan Smelter Project of Hindalco Industries Ltd in Madhya Pradesh.
 
 Transmission business
 
 The work for developing 400 KV, 1,500 MVA and 100 km transmission link,
 in Jhajjar district of Haryana in the PPP model is progressing
 satisfactorily and your Company expects to commission the same on
 schedule.
 
 Subsidiaries
 
 Simran Wind Project Private Limited (Simran), a wholly- owned
 subsidiary of the Company is solely engaged in wind power generation.
 During the year, your Company has moved further in its vision to become
 a major power producer from renewable energy sources and commissioned
 another 15 MW wind mills in the state of
 
 Tamil Nadu. With this the total generation capacity in Simran has
 become 65.45 MW.
 
 In terms of the general circular no. 2/2011 dated February 8, 2011
 issued by Ministry of Corporate Affairs, Govt. of India, the Balance
 Sheet, Profit & Loss Account and other documents of the subsidiary
 company are not attached. The annual accounts of the subsidiary company
 and the related detailed information shall be made available to the
 interested shareholders of the Company and the subsidiary company at
 any point of time. The annual accounts of the subsidiary company shall
 also be kept for inspection at the registered office of the Company.
 The consolidated financial statements prepared in compliance with AS-21
 and the relevant information of the subsidiary as per the aforesaid
 circular form part of this annual report.
 
 Future outlook
 
 Currently, India is one of the world''s fastest-growing economies,
 growing annually at around 7 percent over the past five years. However,
 the country''s energy sector has not kept pace with increasing demands,
 and there is an urgent need to increase its installed energy capacity.
 
 India is ranked fifth globally in terms of its installed wind energy
 capacity, and is one of the world''s emerging players. According to
 Indian Wind Energy Association estimates, there is an upside to
 utilising wind energy for generating electricity to the tune of 65,000
 MW.
 
 The Indian wind energy market will remain an attractive prospect for
 independent power producers, owing to the country''s resilient economy
 and the pro-wind policies adopted by central and state governments.
 Some of them are tax and duty exemptions on wind turbines and other
 components. Also, the start of the Generation-based ncentives (GBI) and
 Renewable Energy Certificate scheme will promote investments by large
 independent power producers.
 
 Directors
 
 Mr. K. Vasudevan, Director, retires by rotation at the ensuing Annual
 General Meeting, and being eligible, offers himself for re-appointment.
 A brief profile of Mr.  Vasudevan is attached with the Corporate
 Governance report.
 
 Listing of shares
 
 The equity shares of the Company were listed on November 10, 2010 with
 the Bombay Stock Exchange Ltd and the National Stock Exchange of India
 Ltd. The listing application with the Calcutta Stock Exchange Ltd is
 under process as on the date of this report.
 
 Auditors
 
 The Auditors, M/s. S. S. Kothari & Co., Chartered Accountants, hold
 office till the conclusion of the ensuing Annual General Meeting and
 being eligible, offer themselves for re-appointment.
 
 Auditors'' Report
 
 The comments by the Auditors in their report are self- explanatory and,
 in the opinion of the Board, do not require any further clarification.
 
 Corporate Governance
 
 A separate report on Corporate Governance is annexed to this report.
 
 Management discussion and analysis
 
 A management discussion and analysis report is annexed and forms an
 integral part of the annual report.
 
 Directors'' responsibility statement
 
 Your Directors confirm:
 
 i) That in the preparation of the annual accounts, the applicable
 Accounting Standards were followed, along with proper explanation
 relating to materia departures
 
 ii) That the selected accounting policies are reasonable and prudent so
 as to give a true and fair view of the Company''s state of affairs and
 profit at the end of the financial year, and applied them consistently;
 
 iii) That proper and sufficient care was taken for maintenance of
 adequate accounting records in accordance with the provisions of the
 Companies Act, 1956, for safeguarding the Company''s assets and for
 preventing and detecting fraud and other irregularities
 
 iv) That the accounts for the period ended March 31, 2011 are on a
 going-concern basis
 
 The Companies (Disclosure of Particulars in the Report of Board of
 Directors) Rules, 1988
 
 A. Conservation of energy
 
 As the Company''s activities do not involve, by and large, any
 significant level of energy consumption, no comments are necessary in
 respect of energy conservation and reduction of energy consumption. In
 any event, continuous efforts are made to conserve energy to the extent
 possible.
 
 B.Technology absorption
 
 As required under Section 217(1) (e) of the Companies Act, 1956, read
 with the Companies (Disclosure of Particulars in the Report of Board of
 Directors) Rules, 1988, particulars relating to technology absorption
 as per Form B is annexed (Annexure - A).
 
 C. Foreign exchange earning and outgo
 
 Foreign exchange earning   -   Rs.  5,419.78 Lakhs
 
 Foreign exchange outgo     -   Rs.  361.18 Lakhs
 
 Employees
 
 The relation between the employees and the management continued to be
 cordial and stable at all levels. Your Directors wish to place on
 record their appreciation for the devoted services of all the Company''s
 executives and staff.
 
 During the year, no employee was in receipt of remuneration of or in
 excess of the amount prescribed under Section 217 (2A) of the Companies
 Act, 1956.
 
 Acknowledgements
 
 Your Directors wish to express their thanks to the shareholders,
 various customers and their consultants, different government
 departments and the Company''s bankers for their continued support to
 the Company.
 
                              For and on behalf of Board of Directors
                              K. M. Poddar                P. P. Gupta
                              Director              Managing Director
 
 Place: Kolkata, 
 Dated: July 16, 2011