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Quality Power Electrical Equipments

QPOWER NSE
₹1,452.50 +18.50 (+1.29%)
P/E
84.40
View as Markdown
MCP
Close 4 Nov 2026 ₹1,452.50 +518.30 +55.5% 1Y
Start ₹934.20

Key Fundamentals

MicrocapElectrical EquipmentCapital Goods

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

ROCE
31.70%
Debt to Equity
0.07
EPS (TTM)
₹17.21
Book Value
₹78.72
Market Cap
—
P/E (TTM)
84.40
P/B
18.45
ROE
25.30%
Dividend Yield
0.02%
EBITDA
₹236 Cr
52W High
₹1,681.00
52W Low
₹581.00
Day Range
₹1,406.10 – ₹1,459.00
Volume
2,20,296

Peer Comparison

Industrials › Capital Goods › Electrical Equipment › Heavy Electrical Equipment

Quality Power Electrical Equipments peer comparison
Bharat Heavy Electricals
₹423.8551.25₹1,46,351 Cr5.520.35%6.23%9.14%₹37,782 Cr₹2,878 Cr
ABB
₹6,750.0047.87₹1,40,908 Cr15.321.36%22.40%29.90%₹13,477 Cr₹2,988 Cr
CG Power & Industrial Solutions
₹841.4596.28₹1,27,312 Cr15.170.16%20.50%26.70%₹13,699 Cr₹1,364 Cr
Hitachi Energy
₹29,100.00112.75₹1,24,045 Cr25.060.03%21.90%29.40%₹9,162 Cr₹1,149 Cr
Siemens
₹3,509.00—₹1,22,035 Cr9.030.53%19.20%21.40%₹18,062 Cr₹3,276 Cr
GE Vernova T&D
₹4,265.0083.66₹1,04,523 Cr33.150.25%57.40%77.40%₹6,712 Cr₹1,305 Cr
Siemens Energy
₹2,963.0070.90₹1,01,562 Cr21.930.14%50.50%67.80%₹9,436 Cr₹1,489 Cr
Quality Power Electrical Equipments (this company)
₹1,452.5084.40₹11,182 Cr18.450.02%25.30%31.70%₹1,003 Cr₹196 Cr
Median 8 companies₹3,236.0083.66₹1,23,040 Cr16.880.21%22.15%29.65%₹11,457 Cr₹1,427 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

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

Overall score

47 Average

Data confidence 98/100

Category scores

Quality
61
Good
Returns, margins, earnings quality 22% weight
Valuation
19
Poor
Cheap vs sector & own history 24% weight
Growth
99
Strong
Sales & profit trajectory 9% weight
Financial Health
81
Strong
Solvency, leverage, coverage 9% weight
Momentum
63
Good
Trend strength, vol-adjusted 12% weight
Ownership
27
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

3
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has a good return on equity (ROE) track record: 3 Years ROE 25.0%

Weaknesses

2
  • Stock is trading at 19.8 times its book value
  • Earnings include an other income of Rs.66.1 Cr.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish3610
OscillatorsBearish261
Moving AveragesStrong Bullish109

Key readings

RSI (14)
51.52
Neutral
MACD (12,26,9)
−18.41
Bullish
SMA (50)
1,464.23
Bearish
SMA (200)
1,142.85
Bullish

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. 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
3Y+55.27%
1Y+180.18%
TTM+122.12%

Net profit

Net profit growth by window
3Y+66.91%
1Y+86.00%
TTM+96.00%

Operating cash flow

Operating cash flow growth by window
3Y+22.05%
1Y+45.45%
TTM—

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

Operating margin· change in pp

Operating margin growth by window
3Y+6.15 pp
1Y−1.02 pp
TTM+2.60 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2022₹183 Cr
Mar 2023₹253 Cr
Mar 2024₹302 Cr
Mar 2025₹338 Cr
Mar 2026₹947 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2022₹42.00 Cr
Mar 2023₹40.00 Cr
Mar 2024₹55.00 Cr
Mar 2025₹100 Cr
Mar 2026₹186 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹265 Cr +12.0% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk high

Quality Power Electrical Equipments Ltd is a recently listed (Feb 2025) high-voltage electrical equipment company trading at a market cap of ₹8,805 Cr with a PE of ~47x and P/B of 16.1x. Consolidated FY26 revenue surged ~181% YoY to ~₹947 Cr driven by the Mehru acquisition and organic growth, while the order book stands at over ₹1,400 Cr providing near-term revenue visibility.

Bull Case 8
  • Revenue grew 181% TTM (FY26 consolidated sales ~₹947 Cr vs ₹337 Cr in FY25), demonstrating explosive top-line momentum
  • Compounded profit growth of 81% CAGR over 3 years and 90% TTM indicates rapid earnings scaling
  • Order book exceeds ₹1,400 Cr, offering approximately 1.5x FY26 revenue visibility for future execution
  • Company is almost debt-free, providing balance sheet flexibility to fund capacity expansion without dilution risk
  • 3-year average ROE of ~25% reflects strong capital efficiency and high return on deployed equity
  • New facility capable of supporting ~₹1,500 Cr in annual revenue positions the company for continued scale-up without immediate capex bottlenecks
  • Exposure to structural growth themes — HVDC (800 kV reactors), BESS (US$31 Mn in orders), data centers, and FACTS equipment — diversifies revenue streams
  • Promoter holding at 73.91% signals strong insider alignment; promoters waived FY26 dividend to conserve capital for growth
Bear Case 7
  • Stock trades at 16.1x book value, significantly above typical industrial sector multiples, pricing in substantial future growth
  • Earnings quality concern: other income of ₹59.8 Cr included in reported profits — stripping this out would reduce net earnings meaningfully
  • Much of the revenue jump is inorganic via the ₹120 Cr Mehru acquisition (51% stake); organic growth rate is lower than headline 181% suggests
  • Company listed only in Feb 2025 with a tepid IPO (1.3x subscribed), leaving a limited public track record and sparse long-term financial history
  • Stock has appreciated 58% in just 1 year, raising the risk of mean-reversion or a de-rating if quarterly results disappoint
  • Dividend yield of just 0.09% offers negligible income return, making investors entirely dependent on capital appreciation
  • Institutional holding at only 8.26% implies limited large-fund conviction at current valuations, which can amplify volatility

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

AI News Digest

121d ago

TL;DR: Quality Power is on a clear growth trajectory with steady order wins across subsidiaries (₹40.9 Cr Japan order, ₹15.70 Cr from Hitachi Energy) and a strategic ₹315 Cr acquisition to expand into high-voltage ceramic insulators. No visible headwinds in recent news flow. The order pipeline is diversifying geographically (Japan) and across product lines, suggesting an improving trend heading into H2 FY26.

Positives 3
  • ₹315 Cr insulator acquisition Jun 9

    Signed term sheet to acquire 100% of Winwin Speciality Insulators for INR 315 Crores, adding high-voltage ceramic insulator manufacturing and a 47.7-acre land parcel in Visakhapatnam.

  • Japan FACTS system order ₹40.9 Cr Jul 4

    Subsidiary Endoks Enerji won international order in Japan for supply of FACTS system and equipment worth ₹40.9 Crores, scheduled for execution by December 2027.

  • ₹15.70 Cr Hitachi Energy order Jul 3

    Subsidiary Mehru Electrical secured multiple orders worth ₹15.70 crore from Hitachi Energy India for 400 KV transformers.

Neutral 2
  • Auditor appointments and ESOP approval Jun 30

    Appointed Bathiya Advisors LLP as internal auditor for three years, re-appointed R.S. Kale & Co. as cost auditor for FY27, and granted in-principle approval to a draft ESOP scheme.

  • Investor conference participation Jun 10

    Company officials to attend Avendus Spark and Systematix conferences on June 15-16, 2026, in Mumbai.

Quarterly Results

₹ Cr
QPOWER quarterly results, ₹ crore
Particulars Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
142
39
61
94
73
108
177
206
284
281
233
273
Expenses
131
26
38
86
55
92
146
170
205
251
192
210
Operating Profit
11
14
24
8
17
16
31
36
79
30
41
63
OPM %
8%
34%
38%
9%
24%
15%
18%
18%
28%
11%
18%
23%
Other Income
6
9
18
8
7.15
21
17
13
0
29
24
—
Interest
1
0
1
1
1
0
1
2
1
2
1
3
Depreciation
1
1
1
1
1
2
3
3
3
4
4
4
PBT
15
22
41
14
22
36
44
44
74
53
59
77
Tax %
7%
19%
18%
5%
10%
14%
16%
21%
15%
13%
23%
18%
Net Profit
14
18
33
13
20
30
37
35
63
51
47
63
EPS (₹)
1.17
2.11
4.34
1.62
1.92
2.51
3.12
3.14
5.03
4.38
4.66
—

Sep 2026: from the results filed on 31 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
QPOWER profit and loss, annual, ₹ crore
Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
183
253
302
338
947
1,003
Expenses
159
221
263
271
769
817
Operating Profit
23
32
39
67
178
186
OPM %
13%
13%
13%
20%
19%
19%
Other Income
29
20
30
52
59.75
66
Interest
1
3
2
2
7
7
Depreciation
2
2
3
5
13
14
PBT
49
48
63
112
216
232
Tax %
14%
16%
12%
11%
16%
—
Net Profit
42
40
55
100
186
195
EPS (₹)
1.72
2.14
5.19
8.54
15.67
17.21
Div. Payout %
0%
0%
0%
12%
6%
—

Balance Sheet

₹ Cr
QPOWER balance sheet, annual, ₹ crore
Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
0.15
0.15
72
77
77
Reserves
92
112
81
347
465
Borrowings
12
11
38
9
40
Other Liabilities
149
189
167
377
526
Total Liabilities
253
312
359
810
1,108
Fixed Assets
34
40
66
238
267
CWIP
0
1
2
2
73
Investments
0
31
48
37
19
Other Assets
219
241
243
533
750
Total Assets
253
312
359
810
1,108

Cash Flow

₹ Cr
QPOWER cash flow, annual, ₹ crore
Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
9
44
52
55
80
Investing
−13
−55
−81
−93
−95
Financing
2
−4
25
171
18
Net Cash Flow
−3
−14
−4
133
3
Free Cash Flow
4
28
9
31
−31
CFO/EBITDA
74
171
156
97
64

Ratios

QPOWER financial ratios, annual
Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
108
94
96
147
93
Inventory Days
139
109
43
185
74
Days Payable
93
120
116
166
105
Cash Conversion Cycle
154
82
23
166
63
Working Capital Days
44
5
−33
119
71
ROCE %
—
28%
31%
28%
32%

Insights

Beta

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

Log in to view Quality Power Electrical Equipments insights

62 extracted metrics across FY22–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 73.91%
  • Public 14.52%
  • DIIs 5.57%
  • Others 3.05%
  • FIIs 2.95%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Documents

Frequently Asked Questions about Quality Power Electrical Equipments

What does Quality Power Electrical Equipments Ltd do?
Incorporated in 2001, Quality Power Electrical Equipments Limited is engaged in the business of energy transition equipment and power technologies.
Where is Quality Power Electrical Equipments Ltd (QPOWER) listed?
Quality Power Electrical Equipments Ltd trades as QPOWER on the NSE and under code 544367 on the BSE.
Which sector does Quality Power Electrical Equipments Ltd belong to?
Quality Power Electrical Equipments Ltd is classified under the Capital Goods sector, in the Electrical Equipment industry.
What is the PE ratio of Quality Power Electrical Equipments Ltd?
Quality Power Electrical Equipments Ltd trades at a PE ratio of 84.40 as of 4 Nov 2026, on earnings per share of ₹17.21, against a book value of ₹78.72 per share.
What is the 52-week high and low of Quality Power Electrical Equipments Ltd?
Over the last 52 weeks Quality Power Electrical Equipments Ltd has traded between ₹581 and ₹1,681 as of 4 Nov 2026.
Does Quality Power Electrical Equipments Ltd pay dividends?
Quality Power Electrical Equipments Ltd has a dividend yield of 0.02%.
What is the Return on Equity (ROE) of Quality Power Electrical Equipments Ltd?
Quality Power Electrical Equipments Ltd reported a return on equity of 25.30%. Its debt-to-equity ratio is 0.07.

Company Information

Incorporated in 2001, Quality Power Electrical Equipments Limited is engaged in the business of energy transition equipment and power technologies.

Website qualitypower.com
Listed 24 Feb 2025
Face Value ₹10

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