TD Power Systems LimitedCapital Goods & EngineeringTDPOWERSYS
Q1 FY27 concall · earnings callTD Power Systems Limited
Strong quarterly results and order inflows driven by buoyant market conditions across all segments, with management planning capacity expansions to meet sustained demand.
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Standalone Total Income | ₹630 Cr | 74% | |
| Standalone EBITDA Margin | 19.34% | — | |
| Standalone PAT | ₹85.3 Cr | 81% | |
| Manufacturing Order Book | ₹2,208 Cr | — | |
| Order Inflow (Q1) | ₹734 Cr | 87% | |
| Consolidated Sales | ₹643 Cr | 71% | |
| Consolidated PAT | ₹86 Cr | 72% |
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹350.33 Cr+44.4% YoY+14.3% QoQ | ₹44.93 Cr+50.3% YoY+8.9% QoQ | ₹2.88+50.8% YoY+9.1% QoQ |
| Q2 FY25 | ₹306.44 Cr+11.9% YoY+11.9% QoQ | ₹41.27 Cr+25.9% YoY+16.7% QoQ | ₹2.64+25.7% YoY+16.8% QoQ |
| Q1 FY25 | ₹273.78 Cr+24.3% YoY+3.7% QoQ | ₹35.35 Cr+32.6% YoY+21.8% QoQ | ₹2.26+32.2% YoY+21.5% QoQ |
| Q4 FY24 | ₹263.89 Cr+5.6% YoY+8.8% QoQ | ₹29.03 Cr-17.9% YoY-2.9% QoQ | ₹1.86-18.1% YoY-2.6% QoQ |
| Q3 FY24 | ₹242.60 Cr+18.2% YoY-11.4% QoQ | ₹29.90 Cr+49% YoY-8.8% QoQ | ₹1.91+48.1% YoY-9% QoQ |
- Standalone total income rose 74% YoY to INR 6.3 billion, with PAT up 81% to INR 853 million.
- Manufacturing segment order book stood at INR 22.08 billion, with exports/deemed exports at 57% of the mix.
- Quarterly order inflow was INR 7.34 billion, an 87% increase QoQ, with 93% from exports.
- Management revised FY27 revenue guidance upwards to INR 2,600 crores.
- Plans include INR 500 million debottlenecking capex for FY28 capacity of ~INR 32 billion, with longer-term plans to reach INR 40+ billion.
“Our OEM customers have taken significant amounts of non-refundable advances from the people who want to buy their equipment and that is the reason why we have confidence, and they have confidence that the demand will be there in the years ahead.”
| Topic | What management said |
|---|---|
| Capacity & Capex Plans | Management is investing INR 500 million in debottlenecking to reach ~INR 32 billion capacity for FY28, with plans for further expansion to INR 40+ billion for FY29/30; details to be shared next quarter. |
| Large Generator Segment (>100 MW) | Described as a very large market dominated by large players; an announcement regarding agreements is expected in August, but no details were provided. |
| Order Inflow & Book Growth | Expects order inflow of ~INR 700 crores per quarter, leading to ~INR 2,800 crores for the full year. |
| Pricing & Margins | Price variation clauses with customers have been implemented; margin is managed through pricing, cost reductions, product mix, and exchange rates, with a goal to maintain guided levels. |
| Demand Sustainability | Confidence in sustained demand is based on OEM customers receiving significant non-refundable advances; sees no slowdown or shipment hold-ups despite some project execution delays. |
| Domestic Market & AI in India | Domestic demand is subdued (~10-12% growth), primarily from metals; does not see meaningful AI/hyperscaler demand in India soon due to lack of gas and water for baseload power. |
| Working Capital & Fundraise | Working capital is expected to remain in line with growth; payment terms with customers cannot be altered significantly. A Board meeting is scheduled to discuss fundraise plans; no details were shared. |
- Revised FY27 revenue guidance to INR 2,600 crores.
- Expects order inflow of ~INR 700 crores per quarter, ~INR 2,800 crores for FY27.
- Anticipates FY28 capacity of ~INR 32 billion with INR 500 million debottlenecking capex.
- Planning further capacity expansion for FY29/30 to reach INR 40+ billion.
Summary written from the transcript filed by TD Power Systems Limited for the call held on 12 Aug 2026; published 18 Aug 2026, 21:24 IST.
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