TD Power Systems Ltd Q4 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 24 May 2026 | Electrical Equipment | Market Cap: ₹18.8K Cr
FY '27 revenue guidance is around INR 24 billion (INR 2,400+ crores). TD Power Systems is witnessing strong market growth, driven by AI data centers, grid stabilization, renewables, geothermal, hydro, and waste-to-energy sectors, indicating sustained future demand.
From TD Power Systems Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹1,535
Market Cap
₹18.8K Cr
P/E Ratio
78.6
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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 '27 revenue guidance is around INR 24 billion (INR 2,400+ crores).
- →Capacity to address up to INR 32 billion revenue by FY '28, expected conservatively.
- →Order book of INR 19.7 billion is planned for full execution in the current year.
- →Order book inflow growing quarter-on-quarter, with a projected 20%-25% order book growth in FY '27 over FY '26.
- →Current capacity plus incremental capex of INR 50 crores each in FY '27 and FY '28 supports reaching INR 30-32 billion in revenue.
- →Large generator business to see capacity ramp-up starting calendar year 2027, with big growth expected from FY '29 onwards.
- →Steam turbine segment expected to grow steadily at 10%-12% annually.
- →AI data center power requirement market (US alone) projected at ~100 GW over 5-7 years, indicating a long growth cycle.
- →Overall strong demand momentum across multiple power generation segments, supporting sustained growth.
📈 Profitability & Margins
- →TD Power Systems is witnessing strong market growth, driven by AI data centers, grid stabilization, renewables, geothermal, hydro, and waste-to-energy sectors, indicating sustained future demand.
- →Guidance for FY'27 has been revised upward to INR 2,400+ crore revenue with high probability of further increase.
- →Export order inflow expected to remain strong, constituting around 76-80% of total orders.
- →Profits after tax for FY'26 increased 36% year-on-year; EBITDA margin steady around 18%.
- →Large generator business focused on capacity expansion preparing for significant ramp-up by FY'29.
- →Domestic steam turbine segment expected to grow steadily at 10-12%.
- →Strong relationships with major engine OEMs support long-term revenue and order growth.
- →Margins expected to remain stable due to hedging, price variation clauses, and FX tailwinds, despite commodity cost volatility.
- →Continued capex for capacity and automation will support revenue growth targets of INR30-33 billion by FY'28.
🏗️ Capital Expenditure Plans
- →TD Power plans to invest around INR 50 crores in capex this year and a similar amount next year, focused on debottlenecking, adding incremental capacity, and automation to enhance current facilities.
- →This investment is separate from the capex planned for the larger generator business expansion.
- →For large generators, heavy investment is planned to build up rotor manufacturing capacity and large machining capabilities for machines up to 200 MW size.
- →The exact investment amount and business plan details for large generator capex will be disclosed in 2-3 months.
- →The company aims to complete capacity expansion for large generators by calendar year 2027, targeting a major ramp-up from calendar 2028 (FY '29).
- →The expansion aligns with the growing market demand and the company's strategic move into larger capacity generators.
💰 Fundraising & Capital Structure
- →There is no specific mention of any current or future fundraising through debt or equity in the transcript.
- →The management discusses capex plans of around INR50 crores for the current year and next year each, focused on capacity expansion and automation.
- →For larger generator capacity expansion, investments are planned but exact details and amounts will be shared in 2-3 months.
- →No indication of raising funds through debt or equity has been given; the emphasis is on using retained earnings and internal cash flows for working capital and investments.
- →The company is focused on ramping up production and capacity to meet growing demand within existing financial frameworks.
📋 Order Book & Pipeline
- →Current order book for the Manufacturing segment is INR 19.73 billion.
- →Breakdown includes INR 16.77 billion in the generator business, INR 2.47 billion in railway business, INR 0.20 billion in spares and aftermarket, and INR 0.29 billion from Turkey.
- →Order inflow for the current year is INR 22.38 billion, up 51% from INR 14.78 billion the previous year.
- →Export order inflow (including deemed exports) during the quarter is 80% of total orders, amounting to INR 5.28 billion.
- →Export order inflow for the full year is INR 17.33 billion, a 76% increase from the previous year's INR 9.85 billion.
- →All pending orders, approximately INR 20 billion (INR 2,000 crores), are expected to be executed within the current financial year FY '27.
- →Management anticipates order book growth of 20%-25% in FY '27.
Key Metrics
Frequently Asked Questions
What were TD Power Systems Ltd Q4 FY26 results?
FY '27 revenue guidance is around INR 24 billion (INR 2,400+ crores). TD Power Systems is witnessing strong market growth, driven by AI data centers, grid stabilization, renewables, geothermal, hydro, and waste-to-energy sectors, indicating sustained future demand.
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 78.6 with a market cap of ₹18,777 Cr. Investors should review the full earnings analysis for detailed insights.
Is TD Power Systems Ltd planning capital expenditure?
TD Power plans to invest around INR 50 crores in capex this year and a similar amount next year, focused on debottlenecking, adding incremental capacity, and automation to enhance current facilities.
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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.