TD Power Systems Limited (533553) Q4 24/25 earnings summary

Executive summary

• Achieved highest ever revenue, EBITDA, and PAT in FY25, with standalone total income up 28% to INR 12.88 billion and consolidated income up 28% to INR 13.02 billion.

• Profit after tax and comprehensive income increased 25% on standalone and 50% on consolidated basis year-over-year, with consolidated PAT at INR 1,734 million.

• Export business remains the main growth driver, with export and deemed export order inflow at 67%-68% of total orders.

• Order inflow reached record levels, highest ever at INR 14.79 billion for FY25, up 41% year-over-year.

• Expanded global footprint with installations in 111 countries and entry into new markets and segments.

Financial highlights

• FY25 revenue: ₹12,911 million, up 28% YoY; consolidated revenue reached ₹127,876.17 lakhs, up from ₹100,051.99 lakhs YoY.

• EBITDA for FY25: ₹2,431 million (18.8% margin), up 41% YoY; PAT: ₹1,734 million (13.4% margin), up 50% YoY.

• Standalone EPS for FY25 was ₹9.84, up from ₹7.95; consolidated EPS was ₹11.18, up from ₹7.58.

• Gross profit margin for FY25: 35.6%, up 80 bps YoY; gross contribution margin for the quarter at 36%.

• Cash and cash equivalents (consolidated) at year-end were ₹7,496.30 lakhs.

Outlook and guidance

• FY26 revenue guidance at INR 15 billion, with order inflow guidance between INR 1,600-1,700 crore and potential for upward revision.

• EBITDA margin guidance for FY26 in the range of 18%-18.25%, with upward potential.

• Path to INR 1,900-2,000 crore revenue in FY27, leveraging new products and export railway business.

• Export share expected to remain 65%-70% of total orders.

• Third manufacturing plant to come online in FY26, increasing capacity to meet rising demand.