TD Power Systems Limited (533553) Q4 25/26 earnings summary

Executive summary

• Achieved highest revenue and profit after tax (PAT) since inception in FY26, with standalone total income rising 35% to INR 17.37 billion and consolidated total income up 44% to INR 18.78 billion; PAT increased 42% standalone and 36% consolidated.

• Board recommended a final dividend of ₹1.10 per equity share and approved a 1:2 stock split, subject to shareholder approval.

• Strong global presence with over 8,000 generators installed across 113 countries, including new markets.

• Major investments in automation, robotics, and quality systems to enhance manufacturing efficiency and product reliability.

• Audit reports for both standalone and consolidated results carried unmodified opinions.

Financial highlights

• FY26 consolidated revenue rose 44% year-over-year to INR 18.78 billion, with PAT up 36% to INR 2.36 billion; EBITDA margin at 18.3%.

• Order inflow for FY26 surged 51% YoY to INR 22.38 billion, with 80% from exports.

• Order book as of March 31, 2026, stood at INR 19.73 billion, with 64.3% from exports and 85% from the generator business.

• Gross margin averaged 34%, with a temporary dip to 31% due to a one-off event in Turkey.

• Cash and cash equivalents at INR 1.99 billion; net cash flow from operating activities (consolidated) for FY26 was ₹12,906.76 lakhs.

Outlook and guidance

• Revenue guidance for FY27 is INR 24 billion+, with capacity to reach INR 32 billion by FY28; strong demand outlook across all generator business verticals.

• Management expects 20%-25% order book growth in the coming year and robust order pipeline exceeding ₹600 crore per quarter.

• Margins are expected to revert to historical levels, excluding the Turkey one-off.

• Capacity expansion plans underway, with incremental CapEx of INR 50 crore each in FY27 and FY28; investment decisions for large generators expected within 3 months.

• Management anticipates improved market conditions and ongoing operational and financial support for subsidiaries.