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Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

Valuation
Financials (Q3FY25)
Investment Thesis
Kolkata-based infrastructure company (est. 1984, originally pharma, pivoted to infrapower in 2010). Listed on MSEI (Bloomberg: TECHAINP:IN). Revenue is highly lumpy and project-driven — Q3 FY25 saw ₹27.26 Cr revenue and ₹16.94 Cr net profit (turnaround from prior losses), but Q3 FY26 had zero revenue and -₹8.85 Cr loss. Volatile but active in the infrastructure execution space. High-risk, project-cycle-dependent.
Pros
Cons
Business Segments
Infrastructure solutions — power and civil infrastructure (infrapower)
Formerly: pharmaceuticals/drugs (pre-2010 name: Technical Associates Drugs Limited)
Revenue Model
Project-based revenue from civil engineering and infrastructure construction contracts, likely including government tenders and private sector projects in West Bengal and eastern India.
Detailed Analysis
Growth Plans
Government of India's increased infrastructure spending in eastern India and West Bengal
Growth in power infrastructure projects in the region
Industry Tailwinds
Government of India's increased infrastructure spending in eastern India and West Bengal
Growth in power infrastructure projects in the region
Recent Developments
Comparable Companies
KEC · ~18000 Cr
KPIL · ~14000 Cr
Frequently Asked Questions
About Technical Associates Infrapower
Technical Associates Infrapower Limited is a Kolkata-based public limited company with over 40 years of operating history. Incorporated on 29 December 1984, the company was originally constituted as Technical Associates Drugs Limited. In 2010, reflecting a strategic pivot toward the infrastructure and power sector, the company was renamed Technical Associates Infrapower Limited. Its registered office is at 20A, British Indian Street, 1st Floor, Kolkata, West Bengal 700069 — in the heart of the city's commercial district. The company operates in civil engineering and construction, with a focus on infrastructure projects including building complete constructions and civil engineering works. As a small infrastructure company based in Kolkata, Technical Associates Infrapower serves clients requiring construction and engineering solutions in West Bengal and the broader Eastern India market. The company's website (techassoinfra.com) positions it as providing innovative infrastructure services across various sectors. Technical Associates Infrapower has an authorised share capital of ₹3 Cr with a paid-up capital of ₹3 Cr — a fully subscribed capital structure indicative of a closely-held company. The company has 19 Key Management Personnel associated with it since inception, reflecting moderate management depth. Directors include Sonu Pugalia, Ramesh Kumar Saraogi, Manju Agarwal, Mina Agarwal, Mahesh Kumar Mindia, Bhal Chandra Khaitan, and Dilip Kumar Sultania. The company maintains active status with MCA filings through March 2023. As a small civil engineering and infrastructure contractor in eastern India, Technical Associates Infrapower operates in a highly competitive market alongside larger listed and unlisted construction firms. No credit rating or major corporate events have been found in publicly accessible databases. The company's profile is typical of a small, regionally-focused construction entity serving the Kolkata and West Bengal market.
Key Milestones
1984 — Incorporated as Technical Associates Drugs Limited in Kolkata
Common questions about unlisted shares
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You enquire
Takes 2 minutes
We source & quote
Typically within 1 business day
You accept the allocation
Quote valid for 3 days
You transfer the funds
Pay within 2 days of accepting
Shares reach your demat
Usually credited within 2–3 business days
Unlisted shares are illiquid and carry higher risk. Pricing is indicative, not live, and these are private off-market transactions with no exchange settlement guarantee. Read the full risk disclosure.
Industry Headwinds
Competition from larger listed infrastructure companies with better access to capital
Limited financial transparency as an unlisted entity
As an unlisted company with no exchange listing, liquidity for shareholders is very limited and price discovery is opaque
Source: Media Reports / Public Records
Limited public financial disclosures make it difficult to assess the company's current financial health and performance
Source: Media Reports / Public Records
As an unlisted company with no exchange listing, liquidity for shareholders is very limited and price discovery is opaque
Limited public financial disclosures make it difficult to assess the company's current financial health and performance
2010 — Name changed to Technical Associates Infrapower Limited; pivot to infrastructure
Listed on MSEI (Bloomberg: TECHAINP:IN)
Q3 FY25: Revenue ₹27.26 Cr (+1133% QoQ) and profit ₹16.94 Cr — strong project booking
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