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 billion.

• Order inflow reached record levels, with INR 4.13 billion for the quarter and 67-68% from exports.

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

• Board recommended a final dividend of ₹0.65 per equity share for FY25, subject to AGM approval.

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 margin for the quarter at 36%, considered sustainable; FY25 gross profit margin at 35.6%, up 80 bps YoY.

• 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 16-17 billion and potential for upward revision due to strong order pipeline.

• EBITDA margin expected in the 18%-18.25% range, with potential for further improvement.

• Path to INR 19-20 billion revenue by FY27, driven by new products and export railway business.

• Third plant commissioning in H2 FY26 to support growth; ramp-up to 80% utilization expected in FY27.

• Export markets expected to remain the primary growth driver, with marginal growth factored for domestic market.