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PTC India

PTC NSE
₹140.18 No trade today
P/E
8.16
View as Markdown
MCP
Close 4 Nov 2026 ₹140.18 −24.09 −14.7% 1Y
Start ₹164.27

Key Fundamentals

MicrocapPowerUtilities

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
13.40%
Debt to Equity
0.30
EPS (TTM)
₹17.18
Book Value
₹181.71
Market Cap
—
P/E (TTM)
8.16
P/B
0.77
ROE
10.20%
Dividend Yield
16.82%
EBITDA
₹1,250 Cr
52W High
₹229.51
52W Low
₹131.50
Volume
0

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

51 Average

Data confidence 100/100

Category scores

Quality
64
Good
Returns, margins, earnings quality 22% weight
Valuation
85
Strong
Cheap vs sector & own history 24% weight
Growth
47
Average
Sales & profit trajectory 9% weight
Financial Health
56
Good
Solvency, leverage, coverage 9% weight
Momentum
16
Poor
Trend strength, vol-adjusted 12% weight
Ownership
17
Poor
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

4
  • Company has reduced debt.
  • Stock is trading at 0.74 times its book value
  • Company has been maintaining a healthy dividend payout of 42.8%
  • Company's working capital requirements have reduced from 36.8 days to 20.5 days

Weaknesses

5
  • The company has delivered a poor sales growth of -1.78% over past five years.
  • Promoter holding is low: 16.2%
  • Company has a low return on equity of 9.94% over last 3 years.
  • Earnings include an other income of Rs.324 Cr.
  • Company's cost of borrowing seems high

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1153
OscillatorsBearish351
Moving AveragesStrong Bearish802

Key readings

RSI (14)
41.88
Neutral
MACD (12,26,9)
−4.53
Bearish
SMA (50)
150.63
Bearish
SMA (200)
170.84
Bearish

As of

Analyst Rating

Based on 1 analysts
BUY100%

1 of 1 analyst rates Buy, 0 Hold, 0 Sell.

As of

BUY
1
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+2.23%
5Y−1.78%
3Y+1.64%
1Y+6.96%
TTM+13.27%

Net profit

Net profit growth by window
10Y+5.85%
5Y+9.38%
3Y+12.25%
1Y−26.54%
TTM−43.11%

Operating cash flow

Operating cash flow growth by window
10YTurned positive
5Y+5.97%
3Y−7.64%
1Y+51.13%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−2.96 pp
5Y−3.94 pp
3Y−3.16 pp
1Y−0.22 pp
TTM−2.61 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹15,311 Cr
Mar 2018₹12,766 Cr
Mar 2019₹15,155 Cr
Mar 2020₹18,101 Cr
Mar 2021₹18,346 Cr
Mar 2022₹16,856 Cr
Mar 2023₹15,971 Cr
Mar 2024₹16,763 Cr
Mar 2025₹15,679 Cr
Mar 2026₹16,771 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹506 Cr
Mar 2018₹165 Cr
Mar 2019₹490 Cr
Mar 2020₹406 Cr
Mar 2021₹458 Cr
Mar 2022₹552 Cr
Mar 2023₹507 Cr
Mar 2024₹533 Cr
Mar 2025₹976 Cr
Mar 2026₹717 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹459 Cr
Reported High Mean Low

Analyst consensus here uses a different definition from reported ebitda (they differ 2.4× on periods where both exist), so the forecast is shown on its own rather than joined to the reported line.

AI Analysis — Bull vs Bear

Generated 31 Jul 2026
AI opinion · based on fundamentals
Risk medium

PTC India Ltd trades at a PE of 7x and 0.84x book value with a market cap of Rs.4,947 Cr. The company maintains a 42.8% dividend payout but has delivered negative sales growth of -1.78% over five years, while compounded profit has grown at 11% over three years.

Bull Case 6
  • Stock trades at 0.84x price-to-book value, indicating potential undervaluation relative to net assets
  • Healthy dividend payout ratio of 42.8% with a current dividend yield of 1.77%, providing income to shareholders
  • Company has reduced debt, strengthening the balance sheet and lowering financial risk
  • Compounded profit growth of 11% over 3 years demonstrates improving earnings trajectory
  • 10-year stock CAGR of 8% and 5-year CAGR of 11% show long-term wealth creation despite recent weakness
  • ROE has been consistent at 10-11% over 3, 5, and 10-year periods, reflecting stable return generation
Bear Case 8
  • Sales growth has been negative at -1.78% over the past five years, indicating structural revenue stagnation
  • TTM profit has declined 9%, showing recent earnings deterioration
  • Promoter holding is low at 16.2%, raising concerns about alignment of interests and vulnerability to hostile actions
  • Earnings include other income of Rs.364 Cr, suggesting core operating profitability may be overstated
  • ROE of 10.7% over 3 years is below cost-of-equity benchmarks for Indian markets
  • TTM sales growth of only 3% and 10-year compounded sales growth of just 2% signal limited topline expansion potential
  • Stock has delivered -12% return over the past 1 year, underperforming the broader market significantly
  • 5-year compounded sales growth is negative at -2%, indicating the business has been unable to grow revenue sustainably

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

94d ago

TL;DR: PTC India is growing its renewable energy trading book with a significant 1200 MW solar PPA with NTPC REL, signaling continued relevance in India's clean energy transition. Tax penalty notices totaling ~₹75 lakh are financially immaterial and pose no real risk. The near-term catalyst is the Q1FY27 results call on Aug 5, which should clarify trading volumes and margin trends for the quarter.

Positives 1
  • 1200 MW solar PPA signed Jul 3

    PTC India signed a PPA with NTPC Renewable Energy Ltd for 1200 MW solar power on July 3, 2026, expanding its renewable energy trading portfolio.

Neutral 2
  • Q1FY27 results call Aug 5 Aug 1

    PTC India scheduled an investor/analyst conference call for August 5, 2026, to discuss Q1FY27 results, led by MD & CEO Dr. Manoj Kumar Jhawar.

  • ₹11.8 lakh tax penalty notice Aug 1

    PTC India received a ₹11,80,047 demand notice for AY 2013-14 after Rule 8D disallowances were reduced from ₹4.65 crore to ₹12.12 lakh. Total pending penalties across five years are ~₹75 lakh, deemed immaterial by the company.

Quarterly Results

₹ Cr
PTC quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
4,758
5,070
3,428
3,507
4,555
5,128
3,421
2,924
4,009
5,459
3,405
3,898
4,774
5,812
Expenses
4,492
4,775
3,178
3,256
4,311
4,822
3,111
2,768
3,721
5,183
3,232
3,753
4,623
5,669
Operating Profit
267
295
250
251
244
306
310
156
288
275
173
145
151
—
OPM %
6%
6%
7%
7%
5%
6%
9%
5%
7%
5%
5%
3.7%
3.1%
—
Other Income
13
72
−7
−22
173
77
9
421
95
126
68
75
53.65
148
Interest
110
109
104
100
173
91
85
99
92
101
64
53
52
117
Depreciation
2
2
3
3
2
2
2
3
2
3
3
3
2
3
PBT
168
255
136
126
242
290
232
475
289
298
176
164
150
171
Tax %
25%
21%
29%
28%
22%
19%
22%
22%
16%
26%
25%
26%
26%
7%
Net Profit
125
202
97
91
189
234
181
372
243
222
131
121
112
159
EPS (₹)
3.79
6.13
2.68
2.91
5.87
7.34
5.32
11.88
6.59
6.46
3.85
3.56
3.31
—

Sep 2026: from the results filed on 2 Nov 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
PTC profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
13,838
13,447
15,311
12,766
15,155
18,101
18,346
16,856
15,971
16,763
15,679
16,771
17,535
Expenses
12,836
12,333
13,918
11,612
13,201
16,275
16,646
15,276
14,616
15,694
14,810
15,879
16,791
Operating Profit
1,002
1,114
1,393
1,154
1,954
1,826
1,699
1,580
1,355
1,070
869
892
744
OPM %
7%
8%
9%
9%
13%
10%
9%
9%
8%
6%
6%
5%
4.2%
Other Income
6
154
203
147
130
23
8
23
32
75
1,029
364
324
Interest
422
633
802
946
1,243
1,159
928
757
605
431
650
320
270
Depreciation
8
10
21
97
97
100
100
101
102
10
9
10
10
PBT
577
624
772
258
744
589
679
745
680
703
1,239
925
788
Tax %
32%
35%
34%
36%
34%
31%
33%
26%
25%
24%
21%
22%
—
Net Profit
326
406
506
165
490
406
458
552
507
533
976
717
587
EPS (₹)
8.66
10.9
14.01
6.75
14.37
12.42
15.16
17.1
15.05
16.11
30.41
20.46
17.18
Div. Payout %
25%
23%
21%
59%
28%
44%
49%
46%
52%
48%
38%
42%
—

Balance Sheet

₹ Cr
PTC balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
296
296
296
296
296
296
296
296
296
296
296
296
Reserves
2,786
3,255
3,559
3,423
3,666
3,891
4,124
4,427
4,723
4,846
5,509
5,685
Borrowings
5,110
7,724
9,999
12,353
13,320
11,408
11,479
9,771
6,546
4,327
2,962
1,769
Other Liabilities
2,477
3,507
4,245
3,181
3,996
5,514
4,769
5,387
5,065
5,654
4,148
4,881
Total Liabilities
10,670
14,782
18,098
19,253
21,278
21,109
20,668
19,882
16,630
15,123
12,916
12,631
Fixed Assets
49
387
2,155
2,061
1,967
1,884
1,787
1,693
1,617
43
38
32
CWIP
0
0
0
0
0
0
0
0
0
0
0
0
Investments
1,293
1,102
974
400
291
564
972
768
326
284
377
941
Other Assets
9,328
13,293
14,970
16,792
19,020
18,662
17,909
17,421
14,686
14,796
12,500
11,658
Total Assets
10,670
14,782
18,098
19,253
21,278
21,109
20,668
19,882
16,630
15,123
12,916
12,631

Cash Flow

₹ Cr
PTC cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
−497
−1,281
111
−1,438
−108
3,294
2,108
3,049
3,575
2,451
1,864
2,817
Investing
−160
87
−1,374
249
244
−414
−505
46
168
−519
1,430
−824
Financing
709
1,124
1,353
1,278
−408
−2,570
−1,085
−2,788
−4,019
−2,042
−2,459
−3,428
Net Cash Flow
52
−70
91
89
−272
309
518
308
−276
−110
835
−1,434
Free Cash Flow
−500
−1,594
−1,366
−1,754
−111
3,292
2,105
3,040
3,574
2,448
1,859
2,813
CFO/EBITDA
−29
−88
28
−99
9
194
130
193
275
247
245
343

Ratios

PTC financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
67
101
78
95
118
141
123
156
130
125
111
95
Inventory Days
0
—
0
0
0
0
0
0
0
0
0
0
Cash Conversion Cycle
67
101
78
95
118
141
123
156
130
125
111
95
Working Capital Days
7
−4
−62
−79
−23
8
20
25
24
52
37
20
ROCE %
13%
12%
12%
8%
11%
10%
10%
9%
9%
10%
14%
13%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view PTC India insights

63 extracted metrics across FY10–FY27.

Shareholding Pattern

As of Sep 2026

  • Public 38.69%
  • FIIs 24.19%
  • Promoters 16.22%
  • Others 9.59%
  • DIIs 7.95%
  • Government 3.38%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about PTC India

What does PTC India Ltd do?
PTC India Limited was established in 1999 by the Government of India as a Public-Private Initiative and is in the power trading business. It is promoted by Power Grid Corporation of India Limited (PGCIL), NTPC Limited (NTPC), Power Finance Corporation Limited (PFC) and NHPC Limited (NHPC).
Where is PTC India Ltd (PTC) listed?
PTC India Ltd trades as PTC on the NSE and under code 532524 on the BSE.
Which sector does PTC India Ltd belong to?
PTC India Ltd is classified under the Power sector, in the Power Trading industry.
What is the PE ratio of PTC India Ltd?
PTC India Ltd trades at a PE ratio of 8.16 as of 4 Nov 2026, on earnings per share of ₹17.18, against a book value of ₹181.71 per share.
What is the 52-week high and low of PTC India Ltd?
Over the last 52 weeks PTC India Ltd has traded between ₹131.5 and ₹229.51 as of 4 Nov 2026.
Does PTC India Ltd pay dividends?
PTC India Ltd has a dividend yield of 16.82%.
What is the Return on Equity (ROE) of PTC India Ltd?
PTC India Ltd reported a return on equity of 10.20%. Its debt-to-equity ratio is 0.30.

Company Information

PTC India Limited was established in 1999 by the Government of India as a Public-Private Initiative and is in the power trading business. It is promoted by Power Grid Corporation of India Limited (PGCIL), NTPC Limited (NTPC), Power Finance Corporation Limited (PFC) and NHPC Limited (NHPC).

Website ptcindia.com
CEO Dr. Manoj Kumar Jhawar
Employees 115
Listed 7 Apr 2004
Face Value ₹10

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