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TD Power Systems

TDPOWERSYS NSE
₹728.40 +16.85 (+2.37%)
P/E
82.77
View as Markdown
MCP
Close 4 Nov 2026 ₹728.40 +329.47 +82.6% 1Y
Start ₹398.93

Key Fundamentals

SmallcapElectrical EquipmentCapital Goods

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

ROCE
34.00%
Debt to Equity
0.02
EPS (TTM)
₹8.80
Book Value
₹54.34
Market Cap
—
P/E (TTM)
82.77
P/B
13.40
ROE
24.70%
Dividend Yield
0.30%
EBITDA
₹351 Cr
52W High
₹856.10
52W Low
₹301.20
Day Range
₹685.95 – ₹739.20
Volume
34,97,224

Peer Comparison

Industrials › Capital Goods › Electrical Equipment › Heavy Electrical Equipment

TD Power Systems 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
TD Power Systems (this company)
₹728.4082.77₹22,209 Cr13.400.30%24.70%34.00%₹2,124 Cr₹274 Cr
Median 8 companies₹3,236.0082.77₹1,23,040 Cr15.250.28%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

53 Average

Data confidence 100/100

Category scores

Quality
47
Average
Returns, margins, earnings quality 22% weight
Valuation
30
Poor
Cheap vs sector & own history 24% weight
Growth
99
Strong
Sales & profit trajectory 9% weight
Financial Health
79
Strong
Solvency, leverage, coverage 9% weight
Momentum
64
Good
Trend strength, vol-adjusted 12% weight
Ownership
42
Weak
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 delivered good profit growth of 43.4% CAGR over last 5 years

Weaknesses

2
  • Stock is trading at 20.2 times its book value
  • Promoter holding has decreased over last quarter: -0.36%

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBullish469
OscillatorsBearish261
Moving AveragesStrong Bullish208

Key readings

RSI (14)
49.64
Neutral
MACD (12,26,9)
−11.71
Bullish
SMA (50)
747.51
Bearish
SMA (200)
581.63
Bullish

As of

Analyst Rating

Based on 2 analysts
BUY100%

2 of 2 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
2
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+13.86%
5Y+25.59%
3Y+28.63%
1Y+45.11%
TTM+54.36%

Net profit

Net profit growth by window
10YTurned to profit
5Y+39.65%
3Y+35.06%
1Y+36.57%
TTM+44.97%

Operating cash flow

Operating cash flow growth by window
10YTurned positive
5YTurned positive
3Y+13.17%
1Y+222.50%
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+16.27 pp
5Y+6.10 pp
3Y+2.68 pp
1Y−0.32 pp
TTM−0.21 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹380 Cr
Mar 2018₹435 Cr
Mar 2019₹459 Cr
Mar 2020₹515 Cr
Mar 2021₹594 Cr
Mar 2022₹797 Cr
Mar 2023₹872 Cr
Mar 2024₹1,001 Cr
Mar 2025₹1,279 Cr
Mar 2026₹1,856 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017−₹4.00 Cr
Mar 2018−₹14.00 Cr
Mar 2019₹3.00 Cr
Mar 2020₹30.00 Cr
Mar 2021₹45.00 Cr
Mar 2022₹70.00 Cr
Mar 2023₹97.00 Cr
Mar 2024₹118 Cr
Mar 2025₹175 Cr
Mar 2026₹239 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹506 Cr +44.1% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 2 Nov 2026
AI opinion · based on fundamentals
Risk high

TD Power Systems Ltd trades at ₹717.4 as of 2026-11-02 with a market cap of ₹22,206 crore. The company combines robust profit growth (43% CAGR over 5 years) and a near debt-free balance sheet (debt-to-equity of 0.02) with a premium valuation at a trailing P/E of 81.52 and P/B of 13.2, reflecting high market expectations embedded in the current price.

Bull Case 8
  • Near debt-free balance sheet with a debt-to-equity ratio of just 0.02, providing significant financial flexibility and resilience through business cycles.
  • Compounded profit growth of 43% CAGR over the last 5 years and 40% over 10 years demonstrates sustained earnings momentum across multiple cycles.
  • TTM revenue growth of 54% signals a sharp acceleration in top-line performance relative to the 5-year sales CAGR of 26%.
  • ROCE of 30.28% indicates highly efficient capital deployment, well above the cost of capital for most Indian manufacturers.
  • ROE has improved from a 10-year average of 13% to 25% in the last year, reflecting a structural improvement in return generation rather than a one-off spike.
  • TTM profit growth of 45% continues to outpace the already strong 5-year CAGR of 43%, suggesting the growth trajectory has not yet plateaued.
  • Stock has compounded at 87% CAGR over 5 years and 44% over 10 years, indicating a long track record of wealth creation for shareholders.
  • The stock sits roughly 16% below its 52-week high of ₹856.1, having recovered sharply from its 52-week low of ₹301.2, demonstrating strong buying interest on dips.
Bear Case 8
  • Trailing P/E of 81.52 is extremely elevated, pricing in multi-year high growth and leaving little room for execution misses or margin disappointments.
  • Price-to-book ratio of 13.2 (described as 20.2x in certain calculations) represents a steep premium that compresses future return potential if growth normalises.
  • Dividend yield of just 0.29% offers negligible income cushion; shareholders are almost entirely dependent on capital appreciation.
  • Promoter holding decreased by 0.36% in the last quarter, which, while small, can signal reduced insider conviction at elevated valuations.
  • The 126% stock CAGR over 1 year far exceeds TTM profit growth of 45%, suggesting a significant portion of recent returns is driven by multiple expansion rather than earnings.
  • At a market cap of ₹22,206 crore and EPS of ₹8.80, the stock requires sustained high-growth execution for years to justify the current earnings multiple.
  • Capital goods is inherently cyclical; the current TTM sales growth of 54% may not be sustainable if order inflows moderate or capex cycles slow.
  • The 52-week range of ₹301.2 to ₹856.1 — a spread of over 184% — reflects extreme volatility, increasing downside risk in any sentiment reversal.

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

AI News Digest

9h ago

TL;DR: TD Power Systems successfully raised ₹600 crore via QIP at near-floor pricing, attracting marquee mutual fund investors, though the allotment triggered a near-term 4% share price drop on dilution concerns. The stock remains up 137% YTD with exceptional multi-year returns. The minimal discount to floor price and strong institutional participation suggest underlying confidence in the company's growth plans. Near-term overhang from dilution may persist, but the fresh capital positions the company for expansion in the capital goods space.

Headwinds 2
  • QIP triggers 4% share drop Oct 13

    Shares fell nearly 4% to ₹797.1 after the company closed its ₹600 crore QIP, allotting 77.42 lakh equity shares at ₹775 apiece. The stock traded near its intraday low of ₹795.1.

  • Equity dilution from QIP Oct 13

    Paid-up equity share capital increased from ₹31.37 crore to ₹32.14 crore following the QIP allotment, diluting existing shareholders. Promoter holding stands at 27.16% with public holding at 72.84%.

Positives 4
  • Strong YTD rally of 137% Oct 13

    Despite the post-QIP dip, TD Power Systems shares have risen 137% year-to-date, with 5-year returns of over 2,421%.

  • ₹600 crore QIP fully placed Oct 7

    The QIP opened Oct 7 at a floor price of ₹775.35/share and was fully subscribed, raising ₹599.99 crore. The issue price of ₹775 represented only a 0.05% discount to the floor price, signalling strong institutional demand.

  • Top mutual funds anchor QIP Oct 13

    Axis MF, Canara Robeco MF, and ICICI Prudential MF each took ~13.33% of the issue. Mutual funds are the largest institutional holder at 25.67% of equity.

Neutral 1
  • Shareholder approvals completed Oct 7

    The board approved the fund-raising on Aug 14, 2026, and shareholders passed a special resolution at an EGM on Sep 10, 2026. Trading window remains closed per insider trading regulations.

Quarterly Results

₹ Cr
TDPOWERSYS quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
220
274
243
264
274
306
350
348
372
452
443
589
640
Expenses
182
227
203
222
225
251
289
283
303
370
362
491
518
Operating Profit
39
47
40
42
48
56
61
65
69
83
80
98
122
OPM %
18%
17%
16%
16%
18%
18%
17%
19%
19%
18%
18%
17%
19%
Other Income
4
3
5
5
3
6
4
11
4
5
4
8
3
Interest
0
0
0
0
1
1
0
0
0
1
1
0
0
Depreciation
5
5
5
5
5
5
5
5
5
5
6
7
7
PBT
37
45
40
41
46
56
60
70
67
82
78
99
117
Tax %
28%
27%
25%
29%
23%
26%
25%
25%
26%
26%
28%
27%
26%
Net Profit
27
33
30
29
35
41
45
53
50
60
56
72
86
EPS (₹)
0.85
1.05
0.96
0.93
1.13
1.32
1.44
1.7
1.6
1.93
1.8
2.31
2.76

Profit & Loss

₹ Cr
TDPOWERSYS profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
597
507
380
435
459
515
594
797
872
1,001
1,279
1,856
2,124
Expenses
581
498
369
424
429
477
523
701
739
829
1,043
1,521
1,742
Operating Profit
16
9
11
10
30
38
71
97
134
171
235
335
383
OPM %
2.8%
1.8%
2.8%
2.4%
7%
7%
12%
12%
15%
17%
18%
18%
18%
Other Income
24
20
20
16
9
27
16
24
21
16
24
21
20
Interest
6
7
6
9
6
10
9
7
4
4
8
8
2
Depreciation
29
29
28
27
26
22
22
22
21
21
20
23
25
PBT
6
−7
−4
−10
7
33
56
92
130
162
232
326
376
Tax %
114%
33%
24%
51%
57%
9%
20%
23%
25%
27%
25%
27%
—
Net Profit
−1
−9
−4
−14
3
30
45
70
97
118
175
239
275
EPS (₹)
−0.02
−0.28
−0.13
−0.43
0.1
0.97
1.46
2.27
3.1
3.79
5.59
7.64
8.8
Div. Payout %
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
194%
23%
17%
15%
16%
15%
11%
11%
—

Balance Sheet

₹ Cr
TDPOWERSYS balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
33
33
33
33
31
31
31
31
31
31
31
31
Reserves
461
440
437
416
385
394
440
496
573
674
829
1,041
Borrowings
57
28
45
69
61
68
52
71
0
0
12
18
Other Liabilities
345
292
233
190
271
265
262
309
299
333
491
787
Total Liabilities
896
793
749
708
748
757
785
907
903
1,038
1,364
1,877
Fixed Assets
272
258
233
213
198
180
174
166
163
186
207
294
CWIP
0
1
1
1
1
1
1
1
0
1
17
17
Investments
0
0
0
0
10
20
20
20
20
10
0
0
Other Assets
624
534
515
495
539
557
590
720
720
842
1,140
1,566
Total Assets
896
793
749
708
748
757
785
907
903
1,038
1,364
1,877

Cash Flow

₹ Cr
TDPOWERSYS cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
47
−13
−20
−3
48
56
−3
11
89
84
40
129
Investing
−3
2
9
3
−13
0
−11
−14
−13
−34
−34
−105
Financing
−12
−35
1
7
−45
−17
−20
11
−89
−16
−7
−21
Net Cash Flow
32
−46
−9
7
−10
39
−34
8
−13
34
−1
3
Free Cash Flow
25
−27
−24
−10
37
58
−18
−4
72
40
−16
19
CFO/EBITDA
308
−113
−132
28
164
170
10
29
93
72
39
59

Ratios

TDPOWERSYS financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
95
112
154
155
182
123
100
110
113
112
125
146
Inventory Days
62
88
113
96
129
147
174
134
123
139
165
148
Days Payable
136
145
184
140
192
146
100
97
81
78
101
121
Cash Conversion Cycle
21
55
83
111
118
123
174
147
154
173
189
173
Working Capital Days
−38
−8
11
50
60
40
64
78
100
104
120
109
ROCE %
2%
0%
1%
0%
3%
6%
12%
16%
22%
25%
30%
34%

Insights

Beta

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

Log in to view TD Power Systems insights

64 extracted metrics across FY10–FY27.

Shareholding Pattern

As of Sep 2026

  • DIIs 29.21%
  • Promoters 26.51%
  • FIIs 22.66%
  • Public 16.77%
  • Others 5.28%

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 TD Power Systems

What does TD Power Systems Ltd do?
TD Power Systems Ltd is engaged in manufacturing AC generators and Electric motors for various applications which are specifically designed to suit the needs of the customers based on their requirements and specifications.
Where is TD Power Systems Ltd (TDPOWERSYS) listed?
TD Power Systems Ltd trades as TDPOWERSYS on the NSE and under code 533553 on the BSE.
Which sector does TD Power Systems Ltd belong to?
TD Power Systems Ltd is classified under the Capital Goods sector, in the Electrical Equipment industry.
What is the PE ratio of TD Power Systems Ltd?
TD Power Systems Ltd trades at a PE ratio of 82.77 as of 4 Nov 2026, on earnings per share of ₹8.8, against a book value of ₹54.34 per share.
What is the 52-week high and low of TD Power Systems Ltd?
Over the last 52 weeks TD Power Systems Ltd has traded between ₹301.2 and ₹856.1 as of 4 Nov 2026.
Does TD Power Systems Ltd pay dividends?
TD Power Systems Ltd has a dividend yield of 0.30%.
What is the Return on Equity (ROE) of TD Power Systems Ltd?
TD Power Systems Ltd reported a return on equity of 24.70%. Its debt-to-equity ratio is 0.02.

Company Information

TD Power Systems Ltd is engaged in manufacturing AC generators and Electric motors for various applications which are specifically designed to suit the needs of the customers based on their requirements and specifications.

Website tdps.co.in
Listed 8 Sep 2011
Face Value ₹1

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