TD Power Systems Ltd Q4 FY25 Results & Concall Highlights: Revenue, Margins & Order Book
Published 26 Aug 2026 | Electrical Equipment | Market Cap: ₹24.0K Cr
FY '26 revenue guidance is INR 1,500 crores with strong upward potential based on order inflows. TD Power Systems projects steady revenue growth with a path to INR 1,900-2,000 crores by FY '27 driven by new products and export railway business.
From TD Power Systems Ltd's Q4 FY25 earnings-call transcript · updated 26 Aug 2026.
Price
₹729
Market Cap
₹24.0K Cr
P/E Ratio
87.2
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TD Power Systems Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹589 Cr, net profit ₹72 Cr.
Full financials →📊 Revenue & Sales Performance
- →FY '26 revenue guidance is INR 1,500 crores with strong upward potential based on order inflows.
- →Clear path to INR 1,900-2,000 crores revenue in FY '27 driven by new products and export railway business.
- →Existing capacity can be optimized to achieve up to INR 2,200-2,300 crores revenue before new capacity additions are needed.
- →U.S. market expected to grow to 20-25% of total business due to private sector tech investments.
- →Export business remains backbone with 65-70% order share expected to continue.
- →Growth driven by large data center and AI farm demand, grid stabilization units, and traction motors for Europe, U.S., and CIS.
- →New larger generators (up to 40-45 MW) and motors support expansion in global markets including Middle East and India.
- →Hydro refurbishment and coal generator replacement markets offer additional growth opportunities domestically and globally.
- →Design center in U.K. to boost technology and competitiveness for larger machines.
📈 Profitability & Margins
- →TD Power Systems projects steady revenue growth with a path to INR 1,900-2,000 crores by FY '27 driven by new products and export railway business.
- →FY '26 guidance is INR 1,500 crores revenue with strong upward potential as new orders and products come online.
- →EBITDA margin is sustainable around 17.5%, with profit after tax increasing 25% YoY to INR 1,530 million in FY '25.
- →Operating efficiency enhancements aim to push existing plant capacity utilization to generate revenues of around INR 2,200-2,300 crores before considering new capacity expansion.
- →Dividend payout is gradually increasing but not the priority currently, as internal accruals support growth and capacity additions.
- →Expansion into large motors, gas turbines, and traction motors for Europe, U.S., and CIS will further drive earnings.
- →Export markets, especially U.S. data centers and grid stabilization, remain key growth drivers for future profitability.
🏗️ Capital Expenditure Plans
- →TD Power Systems is commissioning a new plant with multiple sheds; equipment installation and commissioning started by May, with impact expected in H2 FY '26.
- →The company plans to optimize existing capacity and will not add new capacity until reaching approximately INR 2,200 crores revenue.
- →A design center is being set up in the U.K. with 2-3 highly qualified individuals focused on developing new large generators and motors (up to 100 MW) to compete in evolving markets, especially data centers.
- →Post the third plant filling up, the company will build cash reserves to fund further capacity expansion, planned beyond INR 2,200-2,300 crores revenue.
- →Investments to improve plant efficiency are ongoing to reach higher utilization without immediate new capital expenditure.
- →The company is also evaluating new product lines (large generators, large motors, rail traction motors) expected to drive growth into FY '27.
- →No mention of imminent inorganic acquisitions but strategic internal investments prioritized for growth.
💰 Fundraising & Capital Structure
- →No specific plans for new fundraising through debt or equity were mentioned in the call.
- →The company currently has about INR240 crores of cash on the balance sheet.
- →TD Power Systems is focusing on heavy investments for future growth, including filling up the third plant.
- →They expect to fund future capacity expansions beyond INR2,200 crores revenue target through internal accruals.
- →Management emphasized optimizing existing capacity and conserving financial strength for upcoming investments.
- →Any new capacity additions will be planned well in advance to avoid lost opportunities, but no concrete funding route was disclosed.
- →Dividend payouts remain modest as the focus is on reinvesting for growth.
📋 Order Book & Pipeline
- →Current order book of the Manufacturing segment: INR 13.68 billion
- → - INR 10.12 billion: regular manufacturing business
- → - INR 3.16 billion: railway business
- → - INR 0.11 billion: space and aftermarket
- → - INR 0.29 billion: Turkey business
- →Current year order book: INR 14.79 billion, up from INR 10.51 billion previous year
- →Export and deemed export orders (excluding railway) constitute 62-68% of orders
- →Guidance for FY '26 revenue: INR 1,500 crores with strong upward potential
- →Order inflow guidance for FY '26: INR 1,600 crores to INR 1,700 crores
- →Execution rate historically ~110% of order book annually, expected to continue
- →Third plant commissioning expected in H2 FY '26 to support order execution and growth
Key Metrics
Frequently Asked Questions
What were TD Power Systems Ltd Q4 FY25 results?
FY '26 revenue guidance is INR 1,500 crores with strong upward potential based on order inflows. TD Power Systems projects steady revenue growth with a path to INR 1,900-2,000 crores by FY '27 driven by new products and export railway business.
What is TD Power Systems Ltd share price analysis?
TD Power Systems Ltd currently shows a neutral. The stock trades at a P/E of 87.2 with a market cap of ₹23,978 Cr. Investors should review the full earnings analysis for detailed insights.
Is TD Power Systems Ltd planning capital expenditure?
TD Power Systems is commissioning a new plant with multiple sheds; equipment installation and commissioning started by May, with impact expected in H2 FY '26.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.