Indo Tech Transform Ltd.
NSE: INDOTECH · Heavy Electrical Equipment · sector
₹2,573.30NSE close 2026-10-26
Key numbers
Market cap₹2,733 cr
Price₹2,573.30
52w high / low₹4,030 / ₹1,100
P/E27.5xSector median 27.8x
P/B7.3xSector median 5.4x
Book value₹351.9
Dividend yield–Sector median 0.19%
ROE30.4%Sector median 18.8%
ROCE35.7%Sector median 21.4%
OPM15.1%Sector median 15.1%
Debt / equity0.01xSector median 0.09x
EV/EBITDA20.5xSector median 21.4x
Interest cover61.2x
Current ratio2.58x
Sales growth 3y+28.2%Sector median +22.1%
Profit growth 3y+53.4%Sector median +27.5%
PEG0.52x
Last 12 months to Jun 2026, Standalone. "Sector median" = middle value of 43 companies in Heavy Electrical Equipment (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹114 cr vs borrowings ₹5 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 61.2x in the last 12 months.
- 82.41% of the promoters' shares are pledged (57.9% of all shares).
- Promoter holding fell by 4.71 percentage points in a year, to 70.29% (2026-09-30).
- Operating cash flow was below net profit in 4 of the last 5 years (FY26, FY25, FY24, FY23).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 13% of net profit in the last 12 months.
- Debtor days went from 101 (FY24) to 56 (FY26).
- No dividend in the last 5 financial years.
- Price ₹2,573.30 on 2026-10-26: -36.1% from the 52-week high, +133.9% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹3,745.90 · low ₹1,233.50
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 146 | 177 | 206 | 164 | 183 | 196 | 239 | 228 |
| EBITDA | 23 | 24 | 21 | 24 | 31 | 33 | 32 | 32 |
| OPM % | 15.7% | 13.7% | 10.0% | 14.6% | 16.9% | 16.8% | 13.5% | 13.9% |
| Other income | 3 | 6 | 5 | 3 | 4 | 2 | 1 | 5 |
| Net profit | 18 | 19 | 21 | 19 | 25 | 25 | 24 | 26 |
| EPS (₹) | 16.69 | 18.15 | 19.75 | 18.05 | 23.33 | 23.45 | 22.53 | 24.20 |
| Revenue YoY | +25.0% | +10.7% | +16.0% | +39.0% | ||||
| Profit YoY | +39.8% | +29.2% | +14.0% | +34.1% |
Standalone figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 280 | 371 | 504 | 612 | 782 | 846 |
| EBITDA | 17 | 31 | 60 | 76 | 120 | 128 |
| Net profit | 12 | 26 | 47 | 64 | 93 | 99 |
| EPS (₹) | 11.48 | 24.20 | 44.12 | 60.15 | 87.26 | 93.51 |
| Revenue growth | +32.4% | +35.8% | +21.5% | +27.8% | +22.0% | |
| Profit growth | +110.8% | +82.3% | +36.3% | +45.2% | +28.7% | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +28.2% | +30.6% | +22.0% |
| Net profit | +53.4% | +71.3% | +28.7% |
| EPS | +53.3% | +71.3% | – |
| Share price | – | +8.0% (2y) | +61.9% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 171 | 217 | 281 | 374 |
| Borrowings | – | 11 | 5 | 8 | 5 |
| Cash & equivalents | – | 42 | 58 | 93 | 114 |
| Total assets | – | 301 | 382 | 436 | 555 |
| Fixed assets | – | 44 | 48 | 49 | 73 |
| Capital work in progress | – | 1 | 0 | 6 | 12 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 129 | 139 | 123 | 121 |
| Inventory | – | 71 | 118 | 135 | 197 |
| Payables | – | 89 | 85 | 62 | 58 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 22 | -4 | 32 | 56 | 57 |
| Cash from investing | -9 | -15 | -12 | -18 | -53 |
| Cash from financing | -0 | 9 | -8 | 1 | -5 |
| Capex | 3 | 8 | 8 | 16 | 34 |
| Free cash flow | 18 | -12 | 24 | 40 | 23 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 15.0% | 21.6% | 22.8% | 24.8% |
| ROCE % | – | 15.6% | 27.5% | 30.5% | 33.2% |
| Debtor days | – | 127 | 101 | 73 | 56 |
| Inventory days | – | 99 | 122 | 112 | 129 |
| Payable days | – | 123 | 87 | 52 | 38 |
| Cash conversion cycle (days) | – | 103 | 136 | 133 | 147 |
| Working capital days | – | 121 | 118 | 127 | 127 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 70.29% |
| FIIs | 0.57% |
| DIIs | 0.28% |
| of which Mutual funds | 0.12% |
| Public (non-institutions) | 28.86% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 72.18% | 70.29% |
| Promoter group | % |
|---|---|
| Shirdi Sai Electricals Limited | 70.29% |
23,714 shareholders. Pledged: 82.41% of promoter shares.
Peers in Heavy Electrical Equipment
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| BHEL | ₹1,37,384 cr | 47.7x | 5.1x | 11.2% | 13.5% | 10.1% | +13.1% | 0.12% |
| ABB | ₹1,34,715 cr | 45.1x | 14.4x | 36.1% | 22.4% | 14.0% | – | – |
| CGPOWER | ₹1,31,237 cr | 104.9x | 16.5x | 16.5% | 21.3% | 12.5% | +30.7% | 0.16% |
| POWERINDIA | ₹1,19,751 cr | 104.0x | 23.1x | 24.5% | 29.9% | 14.9% | +22.2% | 0.02% |
| SIEMENS | ₹1,16,725 cr | 35.6x | 8.4x | 25.0% | 14.2% | 10.0% | +41.0% | 0.37% |
| ENRIN | ₹98,074 cr | 65.9x | 20.4x | 34.3% | 42.0% | 20.9% | – | 0.14% |
| GVT&D | ₹97,043 cr | 74.3x | 36.1x | 58.5% | 65.5% | 25.2% | +30.8% | 0.13% |
| SUZLON | ₹51,051 cr | 16.3x | 5.4x | 40.4% | 29.2% | 17.7% | +41.0% | – |
| THERMAX | ₹35,902 cr | 60.5x | 6.5x | 11.3% | 12.5% | 8.6% | +9.8% | 0.44% |
| INDOTECH | ₹2,733 cr | 27.5x | 7.3x | 30.4% | 35.7% | 15.1% | +28.2% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-09-16 | Dividend | Dividend - Rs 10 Per Share |
| 2024-09-20 | Other | Annual General Meeting |
| 2023-09-22 | Other | Annual General Meeting |
| 2022-09-21 | Other | Annual General Meeting |
| 2021-08-31 | Other | Annual General Meeting |
| 2020-10-08 | Other | Annual General Meeting |
| 2019-08-06 | Other | Annual General Meeting |
| 2018-08-06 | Other | Annual General Meeting |
| 2017-08-29 | Other | Annual General Meeting |
| 2016-07-26 | Other | Annual General Meeting |
| 2015-08-05 | Other | Annual General Meeting |
| 2014-07-24 | Other | Annual General Meeting |
| 2013-10-24 | Other | Annual General Meeting |
| 2012-08-03 | Other | Annual General Meeting |
| 2011-07-29 | Other | Annual General Meeting |
| 2010-07-16 | Other | Annual General Meeting |
| 2009-08-28 | Other | Annual General Meeting |
| 2009-03-13 | Dividend | 2nd Interim Dividend-39% Purpose Revised |
| 2008-12-15 | Dividend | Interim Dividend - 85% |
| 2008-07-10 | Dividend | Agm/Dividend - 60% |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Industrials |
| Industry | Heavy Electrical Equipment |
| Sub-industry | Heavy Electrical Equipment |
| Symbol | INDOTECH |
| BSE code | 532717 |
| ISIN | INE332H01014 |
| Face value | ₹10.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.