TD Power Systems Limited (533553) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 standalone revenue rose to ₹35,796.37 lakhs, up 36% year-over-year, with consolidated revenue at ₹37,189.85 lakhs and consolidated profit after tax at ₹5,007.37 lakhs.

• Standalone profit after tax increased 51% to ₹4,788.15 lakhs; consolidated profit after tax up 40% year-over-year.

• Order inflow for Q1 FY26 was ₹3,918 million, up 32% year-over-year, with 66% from exports and a diversified global order book across 111 countries.

• Major orders secured in steam, gas, and hydro generator segments, including entry into long-duration energy storage and traction motors for US railways.

• Board re-appointed Avanza Management Consulting as internal auditors for FY 2025-26.

Financial highlights

• Q1 FY26 EBITDA margin was 18.9%, up from 17.17% year-over-year; PAT margin at 13.4%.

• Order book as of June 30, 2025, stood at ₹14,679 million, with ₹10.8 billion in generator and motor business.

• Trade receivables at quarter-end were ₹4.25 billion; working capital cycle is around 120 days.

• Finance cost reduced to ₹4.24 million in Q1 FY26 from ₹11.77 million YoY.

• Basic EPS (standalone) for Q1 FY26 was ₹3.07, compared to ₹2.05 in Q1 FY25.

Outlook and guidance

• FY26 consolidated revenue guidance is ₹15 billion, with potential for upward revision due to strong export order inflow.

• Margins expected to be maintained at current levels, ±0.5%.

• Third manufacturing plant coming online in FY26 to support increased capacity.

• Motor business target: ₹1.5 billion this year, ₹2+ billion next year.

• Indian subsidiary’s net worth remains positive due to reduction in accumulated losses and ongoing support from the parent.