TD Power Systems Ltd Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

- FY '27 guidance is set at INR 2,200+ crores, considered conservative, with quarterly inflows around INR 575-600 crores expected. - Management anticipates further upside potential in order inflows in the second half of FY '27. - Capacity utilization is increasing; ramp-up to INR 550-575 crores per quarter in Q4 FY '26 and around INR 600 crores per quarter from Q1 FY '27 onward. - No bulk capacity investments planned till FY '28; focus is on making current production more efficient. - Post FY '28, potential new investments expected in 2-pole generator production and motor business. - Sustained growth expected in both domestic and export markets, including gas turbines, gas engines, steam turbines, hydro turbines, and motors. - Long-term visibility and demand from global OEMs are strong up to 2030. - Motor business expected to grow moderately at 10-15% per year. Overall, steady volume and revenue growth with capacity ramp-up and conservative guidance aiming for expansion beyond FY '28.

- No bulk capacity investments planned until FY '28; focus will be on utilizing existing assets fully until then. - Investment will be made in 2-pole generator production and motors business starting FY '28 onwards. - Continuing investments in automation and lean manufacturing to improve production efficiency. - Land available at the first plant allows for potential capacity duplication in the future; a decision on further bulk investments expected around early next year (2027) based on market growth. - No immediate large-scale capex planned but readiness for capacity expansion if market demand sustains post-FY '28. This strategy balances steady growth with cautious capital deployment, maintaining flexibility to scale as needed.