TD Power Systems Ltd.
NSE: TDPOWERSYS · Heavy Electrical Equipment · sector
₹688.35NSE close 2026-10-26
Key numbers
Market cap₹21,517 cr
Price₹688.35
52w high / low₹856 / ₹301
P/E78.2xSector median 27.8x
P/B20.1xSector median 5.4x
Book value₹34.3
Dividend yield0.12%Sector median 0.19%
ROE28.5%Sector median 18.8%
ROCE34.6%Sector median 21.4%
OPM18.0%Sector median 15.1%
Debt / equity0.02xSector median 0.09x
EV/EBITDA55.8xSector median 21.4x
Interest cover225.8x
Current ratio1.95x
Sales growth 3y+28.6%Sector median +22.1%
Profit growth 3y+35.1%Sector median +27.5%
PEG2.25x
Last 12 months to Jun 2026, Consolidated. "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 ₹199 cr vs borrowings ₹18 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 225.8x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 5 of the last 5 years (FY26, FY25, FY24, FY23, FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 7% of net profit in the last 12 months.
- Debtor days went from 112 (FY24) to 146 (FY26).
- Dividend paid in 5 of the last 5 financial years.
- Price ₹688.35 on 2026-10-26: -19.6% from the 52-week high, +128.5% 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 ₹793.75 · low ₹688.35
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 306 | 350 | 348 | 372 | 452 | 443 | 589 | 640 |
| EBITDA | 56 | 61 | 65 | 69 | 83 | 80 | 98 | 122 |
| OPM % | 18.1% | 17.5% | 18.8% | 18.5% | 18.3% | 18.2% | 16.6% | 19.0% |
| Other income | 6 | 4 | 11 | 4 | 5 | 4 | 8 | 3 |
| Net profit | 41 | 45 | 53 | 50 | 60 | 56 | 72 | 86 |
| EPS (₹) | 1.32 | 1.44 | 1.70 | 1.60 | 1.93 | 1.80 | 2.31 | 2.76 |
| Revenue YoY | +47.7% | +26.4% | +69.2% | +72.1% | ||||
| Profit YoY | +45.8% | +25.4% | +36.2% | +72.3% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 797 | 872 | 1,001 | 1,279 | 1,856 | 2,124 |
| EBITDA | 99 | 132 | 167 | 231 | 330 | 383 |
| Net profit | 71 | 97 | 118 | 175 | 239 | 275 |
| EPS (₹) | 11.48 | 3.12 | 3.79 | 5.59 | 7.64 | 8.80 |
| Revenue growth | +9.4% | +14.7% | +27.8% | +45.2% | +54.3% | |
| Profit growth | +37.0% | +22.2% | +47.5% | +36.8% | +45.3% | |
| Dividend / share (₹) | 2.50 | 4.00 | 1.00 | 1.20 | 1.65 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +28.6% | +25.6% | +54.3% |
| Net profit | +35.1% | +39.5% | +45.3% |
| EPS | +34.9% | +0.6% | – |
| Share price | – | +83.3% (2y) | +111.5% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 605 | 705 | 860 | 1,072 |
| Borrowings | – | 0 | 0 | 12 | 18 |
| Cash & equivalents | – | 169 | 211 | 199 | 199 |
| Total assets | – | 903 | 1,038 | 1,364 | 1,877 |
| Fixed assets | – | 155 | 159 | 181 | 264 |
| Capital work in progress | – | 0 | 1 | 17 | 17 |
| Investments | – | 20 | 10 | 0 | 0 |
| Receivables | – | 269 | 307 | 437 | 742 |
| Inventory | – | 199 | 250 | 377 | 503 |
| Payables | – | 0 | 115 | 231 | 412 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 11 | 89 | 84 | 40 | 129 |
| Cash from investing | -5 | -10 | -33 | -34 | -102 |
| Cash from financing | 11 | -89 | -16 | -7 | -21 |
| Capex | 15 | 21 | 27 | 56 | 111 |
| Free cash flow | -4 | 68 | 57 | -16 | 18 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 16.0% | 16.8% | 20.3% | 22.3% |
| ROCE % | – | 21.6% | 23.0% | 26.9% | 30.1% |
| Debtor days | – | 113 | 112 | 125 | 146 |
| Inventory days | – | 123 | 139 | 165 | 148 |
| Payable days | – | 0 | 64 | 101 | 121 |
| Cash conversion cycle (days) | – | 236 | 187 | 189 | 173 |
| Working capital days | – | 226 | 181 | 177 | 148 |
Shareholding
| Holder | % (2026-10-12) |
|---|---|
| Promoters | 26.51% |
| FIIs | 22.66% |
| DIIs | 29.21% |
| of which Mutual funds | 27.00% |
| of which Insurance | 0.59% |
| Public (non-institutions) | 21.62% |
| Quarter | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | Oct 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 33.22% | 26.88% | 26.88% | 26.87% | 26.87% | 26.87% | 27.16% | 26.51% |
| Promoter group | % |
|---|---|
| Saphire Finman Services Llp | 12.85% |
| Nikhil Kumar | 8.26% |
| Hitoshi Matsuo | 4.94% |
| Mohib Nomanbhai Khericha | 0.19% |
| Aarya Sankaran Kumar | 0.18% |
| Sagir Mohib Khericha | 0.07% |
| Sofia Mohib Khericha | 0.00% |
| Chartered Capital & Investment Ltd | 0.00% |
| Public holders above 1% | % |
|---|---|
| Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund | 6.75% |
| Axis Focused Fund Account | 4.37% |
| Hsbc Mutual Fund - Hsbc Midcap Fund | 3.34% |
| Oxbow Master Fund Limited | 2.87% |
| Aditya Birla Sun Life Mutual Fund - Aditya Birla Sun Life Small Cap Fund | 2.00% |
| Icici Prudential Energy Opportunities Fund | 1.74% |
| Sundaram Mutual Fund A/C Sundaram Large And Mid Cap Fund | 1.63% |
| Catamaran Ventures Llp | 1.45% |
| The Master Trust Bank Of Japan, Ltd. As Trustee Of Hsbc India Infrastructure Equity Mother Fund | 1.40% |
| Goldman Sachs Funds - Goldman Sachs India Equity Portfolio | 1.35% |
| Mirae Asset Aggressive Hybrid Fund | 1.30% |
| Vanguard Total International Stock Index Fund | 1.04% |
1,53,812 shareholders. Pledged: 0.00% 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% |
| TDPOWERSYS | ₹21,517 cr | 78.2x | 20.1x | 28.5% | 34.6% | 18.0% | +28.6% | 0.12% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-08-24 | Split | Face Value Split (Sub-Division) - From Rs 2/- Per Share To Re 1/- Per Share |
| 2026-08-05 | Dividend | Dividend - Rs 1.10 Per Share |
| 2025-11-06 | Dividend | Interim Dividend - Re 1 Per Share |
| 2025-07-30 | Dividend | Dividend - Re 0.65 Per Share |
| 2024-11-11 | Dividend | Interim Dividend - Re 0.60 Per Share |
| 2024-08-06 | Dividend | Annual General Meeting/Dividend - Rs 0.60 Per Share |
| 2023-11-22 | Dividend | Interim Dividend - Re 0.50 Per Share |
| 2023-08-02 | Dividend | Annual General Meeting/Dividend - Re 0.50 Per Share |
| 2023-02-20 | Dividend | Interim Dividend - Re 0.50 Per Share |
| 2022-10-31 | Split | Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 2/- Per Share |
| 2022-09-19 | Dividend | Annual General Meeting/Dividend - Rs 3.50 Per Share |
| 2021-09-16 | Dividend | Annual General Meeting/Dividend - Rs 2.50 Per Share |
| 2020-09-17 | Dividend | Annual General Meeting/Dividend - Rs 0.75 Per Sh |
| 2020-02-24 | Dividend | Interim Dividend - Rs 1.50 Per Share |
| 2019-08-01 | Dividend | Annual General Meeting/Dividend - Rs 2 Per Share |
| 2018-09-18 | Dividend | Annual General Meeting/Dividend Rs 1.8 Per Share |
| 2017-09-19 | Dividend | Annual General Meeting/Dividend - Rs 1.80 Per Share |
| 2016-09-14 | Dividend | Annual General Meeting/Dividend - Rs 3.05/- Per Share |
| 2015-09-15 | Dividend | Annual General Meeting/ Dividend - Rs 2.645/- Per Share |
| 2014-08-01 | Dividend | Annual General Meeting / Dividend - Rs 2.30/- Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing: Manufacturing of Generator
| Sector | Industrials |
| Industry | Heavy Electrical Equipment |
| Sub-industry | Heavy Electrical Equipment |
| Symbol | TDPOWERSYS |
| BSE code | 533553 |
| ISIN | INE419M01035 |
| Face value | ₹1.0 |
| Incorporated | 1999-04-16 |
| Website | www.tdps.co.in |
| Plants (India / abroad) | 3 / 1 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.