Td Power Systems Limited (TDPOWERSYS)

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Td Power Systems Limited (TDPOWERSYS) · mywealthgrid

About

Td Power Systems manufactures heavy electrical equipment within India's Industrials sector, market cap ₹23,189.45 Cr. Recent quarters show strong growth momentum—revenue rising from ₹395–452 Cr (Sep 2025) to ₹627–640 Cr (Jun 2026)—maintaining operational margins 17–19%.

Face value: ₹1

Market cap

₹12,373 Cr

P/E

45.0×

P/B

11.5×

Dividend yield

0.3%

ROE

24.7%

ROCE

33.6%

Debt / equity

0.02

OPM

17.8%

EPS (TTM)

₹17.6

Book value

₹68.6

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

High valuation risk: PE 84.33 elevated; stock up 192% YoY to ₹1,484.6 from ₹472.85. Growth must sustain to justify multiple.
Margin volatility: OPM ranged 16.61–19.34% across recent quarters; verify if reflects cyclical input costs, capacity utilization, or product mix shifts.
Cyclical demand exposure: Verify how much current revenue momentum (₹395–452 Cr Sep 2025 to ₹627–640 Cr Jun 2026) driven by capex cycle phases; assess contract pipeline visibility.
Institutional concentration: FII (26.18%) + DII (23.88%) account for 50% shareholding; verify flow stability in market corrections.

Generated analysis · source review pending

Growth drivers

Revenue acceleration: Quarterly sales jumped from ₹395–452 Cr (Sep 2025) to ₹627–640 Cr (Jun 2026); verify underlying drivers—market expansion, price realization, or order fulfillment speed.
Margin stability: OPM held 17–19% range across quarters; sustained margins let profit grow with revenue.
Debt capacity: D/E 0.02 minimal, providing substantial borrowing headroom if management funds growth.
Dividend confidence: Six dividend distributions over 24 months signal management confidence in cash generation sustainability.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹792.2+1.9%1Y

Quick read

rule-based

Pros

+Strong return on equity of 21.7% (3-yr avg)
+High return on capital employed of 28.5%
+Profit CAGR of 39.5% over the last 5 years
+Revenue CAGR of 25.6% over the last 5 years
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 172.6×

Cons

−Trading at 11.5× book value
−Low dividend payout of 11.9% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

66/100

Business quality: 83
Growth

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 50 NIFTY SMALLCAP 100 NIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	438	459	515	594	797	872	1,001	1,279	1,856
COGS	310	320	359	396	570	590	655	831	1,241
Gross profit	128	139	156	198	228	282	345	448	615
	119	112	122	132	136	152	178	217	286
	8	27	33	66	92	130	167	231	330
OPM %	1.9%	5.9%	6.5%	11.1%	11.5%	14.9%	16.7%	18.1%	17.8%
Depreciation	27	26	22	22	22	21	21	20	23
Interest	7	3	5	4	2	1	0	3	2
	16	9	27	17	24	21	16	24	21
Profit before tax	-10	7	33	56	92	130	162	232	326
Tax	5	4	3	11	21	33	44	57	87
Tax %	51.5%	57.3%	8.6%	20%	23.3%	25.3%	27%	24.6%	26.8%
	-14	3	30	45	71	97	118	175	239
PAT margin %	-3.3%	0.7%	5.8%	7.6%	8.9%	11.1%	11.8%	13.7%	12.9%
EPS (₹)	-4.3	1	9.8	14.8	23	6.2	7.6	11.2	15.3
EPS adjusted (₹)	-0.4	—	1	1.5	2.3	3.1	3.8	5.6	7.6
	—	204.1%	23.1%	16.9%	15.2%	16.1%	14.5%	11.2%	13.7%
Annual report	Annual report for Mar 2018	—	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2017	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	33	33	31	31	31	31	31	31	31
Reserves	487	454	—	440	496	573	674	829	1,041
Minority interest	—	—	—	0	—	—	—	—	—
	28	45	—	52	71	0	0	12	18
	231	217	—	262	309	299	333	491	787
Total equity & liabilities	779	749	—	785	907	903	1,038	1,364	1,877
	255	231	180	174	166	163	186	207	294
CWIP	0	0	—	0	1	0	1	17	17
Investments	0	0	—	20	20	20	10	0	0
	524	518	—	591	720	720	842	1,140	1,566
Total assets	779	749	—	785	907	903	1,038	1,364	1,877

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2025 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Manufacturing	1,656.31	224.91	1,215.2	488.5	726.7	30.95
Engineering, procurement and Construction (EPC)	0	-0.13

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	30.4%	30.2%	33.3%	28.5%	32.3%	34.5%	35%	33.1%
EBITDA margin %	5.9%	6.5%	11.1%	11.5%	14.9%	16.7%	18.1%	17.8%
EBIT margin %	0.3%	2.1%	7.5%	8.8%	12.6%	14.6%	16.5%	16.5%
PAT margin %	0.7%	5.8%	7.6%	8.9%	11.1%	11.8%	13.7%	12.9%
Working capital
Receivable days	—	—	100	110	113	112	125	146
Inventory days	—	—	174	134	123	139	165	148
Payable days	—	—	100	97	0	64	101	121
NWC days	—	—	174	147	235	187	189	173
Leverage
Current ratio	—	—	1.88	1.9	4.41	2.52	2.26	1.95
Debt to EBITDA	—	—	0.79	0.77	0	0	0.05	0.05
Debt to equity	—	—	0.11	0.13	0	0	0.01	0.02
Interest coverage	3.6	4.4	12	42	121.9	524.3	76.7	172.6
Asset turnover	—	—	0.76	0.88	0.97	0.96	0.94	0.99
Return ratios
Return on assets %	—	—	5.8%	7.8%	10.7%	11.4%	12.8%	12.7%
Return on capital employed %	—	—	11.2%	16.9%	20.1%	22.3%	29.6%	33.6%
Return on equity %	—	—	9.6%	13.4%	16%	16.8%	20.3%	22.3%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	34.27%	34.27%	34.27%	34.27%	34.27%	34.27%	33.22%	26.88%	26.88%	26.87%	26.87%	26.87%
	10.11%	11.36%	12.85%	14.85%	16.24%	17.8%	19.12%	23.7%	23.55%	24.36%	26.68%	26.18%
	33.15%	32.8%	32.35%	31.53%	29.64%	26.9%	24.91%	25.29%	25.39%	23.19%	22.24%	23.88%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	22.47%	21.57%	20.53%	19.35%	19.85%	21.03%	22.75%	24.13%	24.18%	25.58%	24.21%	23.07%
No. of shareholders	—	—	—	—	—	—	—	—	1,08,667	1,17,170	1,15,089	1,34,081

Promoter holding down 7.4 percentage points since Sep 2023.

72 deals · 27 Sept 2022 – 24 Nov 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
24 Nov 2025	ISHARES CORE MSCI EMERGING MARKETS ETF	Bulk	NSE	Buy	9,68,194	₹759.08	₹73.49 Cr
3 Nov 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	9,12,699	₹819.56	₹74.80 Cr
3 Nov 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	9,12,699	₹819.07	₹74.76 Cr
31 Oct 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	10,99,512	₹751.88	₹82.67 Cr
31 Oct 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	10,99,512	₹751.51	₹82.63 Cr
22 May 2025	NIKHIL KUMAR	Bulk	BSE	Sell	45,00,000	₹460.95	₹207.43 Cr
22 May 2025	SAPHIRE FINMAN SERVICES LLP	Bulk	BSE	Sell	33,00,000	₹461.41	₹152.27 Cr
22 May 2025	HITOSHI MATSUO	Bulk	BSE	Sell	21,00,000	₹460.09	₹96.62 Cr
22 May 2025	LAVANYA SANKARAN	Bulk	BSE	Sell	16,00,000	₹463.28	₹74.12 Cr
22 May 2025	MANSI SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	BSE	Buy	13,98,708	₹460.88	₹64.46 Cr

1–10 of 72

1 / 8

Mr. Mohib Nomanbhai KherichaNon-Executive - Non Independent Director-Chairperson related to Promoter
Mr. Nikhil KumarExecutive Director-MD
Ms. Subramanyam PrabhamaniNon-Executive - Non Independent Director
Ms. Prathibha SastryNon-Executive - Independent Director
Mr. Rahul MatthanNon-Executive - Independent Director
Mr. Karl Olof Alexander OlssonNon-Executive - Independent Director
Mr. Deepak Kumar SinhaChief Executive Officer
Mr. Bharat RajwaniCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 11 fund houses

Held by these funds

29.4%

of the company's equity

All mutual funds

21.88%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

40 schemes · 11 fund houses

		Shares
SMALL CAP FUND	Nippon India Mutual Fund	1.93 Cr	1,500.21	1.82%	12.361%	+96.54 L
Energy Opportunities Fund	ICICI Prudential Mutual Fund	32.47 L	252.33	3.05%	2.079%	+14.49 L
Focused Fund	Axis Mutual Fund	30.91 L	240.18	2.1%	1.979%	+16.65 L
Multicap Fund	Axis Mutual Fund	26.26 L	204.03	1.7%	1.681%	+16.87 L
Large & Mid Cap Fund	Axis Mutual Fund	23.71 L	184.24	1.06%	1.518%	+16.36 L
POWER & INFRA FUND	Nippon India Mutual Fund	16.06 L	124.8	1.53%	1.028%	+7.73 L
India Manufacturing Fund	Axis Mutual Fund	13.86 L	107.69	1.86%	0.887%	+8.64 L
Midcap FundNEW	Axis Mutual Fund	10.58 L	82.21	0.23%	0.677%	—

1–8 of 40

1 / 5

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

34 announcementsExport CSV

1 Oct 2026, 11:44 amCompany Update

Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order

Award of Order / Receipt of Order PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	30.4%	30.2%	33.3%	28.5%	32.3%	34.5%	35%	33.1%
EBITDA margin %	5.9%	6.5%	11.1%	11.5%	14.9%	16.7%	18.1%	17.8%
EBIT margin %	0.3%	2.1%	7.5%	8.8%	12.6%	14.6%	16.5%	16.5%
PAT margin %	0.7%	5.8%	7.6%	8.9%	11.1%	11.8%	13.7%	12.9%
Working capital
Receivable days	—	—	100	110	113	112	125	146
Inventory days	—	—	174	134	123	139	165	148
Payable days	—	—	100	97	0	64	101	121
NWC days	—	—	174	147	235	187	189	173
Leverage
Current ratio	—	—	1.88	1.9	4.41	2.52	2.26	1.95
Debt to EBITDA	—	—	0.79	0.77	0	0	0.05	0.05
Debt to equity	—	—	0.11	0.13	0	0	0.01	0.02
Interest coverage	3.6	4.4	12	42	121.9	524.3	76.7	172.6
Asset turnover	—	—	0.76	0.88	0.97	0.96	0.94	0.99
Return ratios
Return on assets %	—	—	5.8%	7.8%	10.7%	11.4%	12.8%	12.7%
Return on capital employed %	—	—	11.2%	16.9%	20.1%	22.3%	29.6%	33.6%
Return on equity %	—	—	9.6%	13.4%	16%	16.8%	20.3%	22.3%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Bharat Heavy Electricals LimitedBHELBHEL	₹1,46,596 Cr	₹1,54,783 Cr	₹35,993 Cr	₹3,383 Cr	6.9%	₹2,432 Cr	4.7%	6.8%	6.3%	119
Hitachi Energy India LimitedPOWERINDIAPOWERINDIA	₹1,39,553 Cr	₹1,39,553 Cr	₹9,163 Cr	₹1,424 Cr	15.4%	₹1,150 Cr	12.1%	28.8%	21%	-42
Cg Power And Industrial Solutions LimitedCGPOWERCGPOWER	₹1,38,443 Cr	₹1,38,443 Cr	₹12,821 Cr	₹1,638 Cr	13.1%	₹973 Cr	9.7%	26.2%	20.4%	48
Siemens Energy India LimitedENRINENRIN	₹1,18,724 Cr	₹1,18,724 Cr	₹9,436 Cr	₹2,024 Cr	19.3%	₹1,488 Cr	14.1%	33.8%	29%	-175
Ge Vernova T&D India LimitedGVT&DGVT&D	₹1,08,882 Cr	₹1,08,882 Cr	₹6,712 Cr	₹1,757 Cr	27.1%	₹1,305 Cr	19.9%	73.2%	55.3%	90
Suzlon Energy LimitedSUZLONSUZLON	₹53,473 Cr	₹53,737 Cr	₹17,429 Cr	₹3,019 Cr	18.1%	₹3,144 Cr	18.9%	31.7%	40.6%	117
Thermax LimitedTHERMAXTHERMAX	₹40,058 Cr	₹42,346 Cr	₹10,839 Cr	₹870 Cr	9.6%	₹593 Cr	6.7%	15.7%	13.7%	-0
Schneider Electric Infrastructure LimitedSCHNEIDERSCHNEIDER	₹30,495 Cr	₹30,939 Cr	₹2,920 Cr	₹336 Cr	12.8%	₹184 Cr	7.4%	28.5%	31.8%	61
Azad Engineering LimitedAZADAZAD	₹18,481 Cr	₹18,938 Cr	₹638 Cr	₹240 Cr	37.4%	₹139 Cr	22.2%	12.4%	9.1%	1,720
Triveni Turbine LimitedTRITURBINETRITURBINE	₹16,849 Cr	₹16,849 Cr	₹2,253 Cr	₹428 Cr	20.7%	₹336 Cr	16%	35.7%	26.3%	8
Karamtara Engineering LimitedKARAMTARAKARAMTARA	₹13,225 Cr	₹14,255 Cr	₹4,312 Cr	₹498 Cr	11.6%	₹229 Cr	5.3%	27.2%	20.8%	—
Atlanta Electricals LimitedATLANTAELEATLANTAELE	₹13,200 Cr	₹13,247 Cr	₹2,001 Cr	₹367 Cr	18.6%	₹224 Cr	10.9%	34.8%	21.7%	74

Date	Category	Subject	Filing
1 Oct 2026, 11:44 am	Company Update Award of Order / Receipt of Order	Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order	PDF
21 Sept 2026, 10:47 am	Company Update Allotment of Equity Shares	Announcement under Regulation 30 (LODR)-Allotment	PDF
12 Sept 2026, 3:35 pm	Company Update General	Intimation Under Regulation 30 Of SEBI LODR	PDF
10 Sept 2026, 8:51 pm	AGM/EGM EGM	Shareholder Meeting / Postal Ballot-Scrutinizer"s Report	PDF
10 Sept 2026, 8:38 pm	AGM/EGM EGM	Shareholder Meeting / Postal Ballot-Outcome of EGM	PDF
25 Aug 2026, 2:46 pm	Insider Trading / SAST Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011	Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011	PDF
18 Aug 2026, 2:28 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
18 Aug 2026, 1:09 pm	Company Update Earnings Call Transcript	Announcement under Regulation 30 (LODR)-Earnings Call Transcript	PDF

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	42	-3	11	89	84	40	129
	6	-8	-5	-10	-33	-34	-102
	-17	-20	11	-89	-16	-7	-21
Net cash flow	31	-31	17	-11	36	-1	7
Free cash flow	—	-15	-0	73	61	-13	23
CFO / Operating profit %	126.5%	-4.3%	11.9%	68%	50.2%	17.1%	39.2%

Td Power Systems Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

20

1

2

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

(Profit)/loss of subsidiaries · revenue

Td Power Systems Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends20

Board meetings1

Stock splits2

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

(Profit)/loss of subsidiaries · revenue

20

1

2