TD Power Systems Limited (TDPOWERSYS)
Micro CapIndustrials stocks · Micro cap · NSE
TD Power Systems manufactures and supplies AC generators for turbines (steam, gas, wind, hydro) and engines (gas, diesel), special application generators, and motors (induction, synchronous, traction). It serves diverse industrial sectors globally, with manufacturing facilities in India and Turkey, and sales offices in Europe, USA, and Japan.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Mixed fundamentals, management trust is supportive, price trend argues for patience, and recent execution is consistent.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 30 Jun 2026
Good · 72/100Rev +72% YoY · PAT +72% YoY · +9% QoQ · margin compression
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹640 Cr | +72.0% | +8.7% |
| EBITDA | ₹122 Cr | +76.8% | +24.5% |
| Operating margin | 19.0% | +0 bps | +200 bps |
| PAT | ₹86 Cr | +72.0% | +19.4% |
| PAT margin | 13.4% | +0 bps | +122 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
TDPS achieved its highest ever revenue and PAT for the third consecutive year in FY26, driven by robust order inflow growth of 51% YoY for FY26 and 61% YoY for Q4 FY26, with exports contributing 80% of the annual order book.
The company demonstrates strong execution with record revenue and PAT for three consecutive years. Significant order inflow, largely export-driven, and a healthy order book provide visibility. Entry into new segments like retrofit and continued traction in key verticals are positive indicators.
Order Inflow by Geography (FY26)
Latest issuer-disclosed distribution across 2 reported categories.
Data Center Applications
Demand continues to be driven by data center applications in the US for Gas Engine Generators.
Retrofit and Brownfield Segment
Won a prestigious replacement order in US, marking entry into retrofit and brownfield segment, opening a new growth avenue.
Small and Mid-size Hydro Projects
Continued focus on small and mid-size hydro projects, strengthening global market presence.
EPC-led Developments
Sustained traction in Nepal, Vietnam, and Indonesia, driven by EPC-led developments and regional investments.
Automation and Robotics
Implemented advanced automation and robotics in manufacturing processes to enhance efficiency, accuracy, and consistency.
In-house Operations
State of the art facility equipped to perform all critical operations in-house, ensuring complete control over the production process.
Global OEM Demand
Secured large-volume repeat orders from leading global OEMs across multiple ratings for Gas Engine Generators.
Regional Investments in Hydro
Sustained traction in Nepal, Vietnam, and Indonesia, driven by EPC-led developments and regional investments.
Increased Brand Recognition
Revival in the Domestic market with increased Brand Recognition Globally.
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
The presentation explicitly provides year-over-year growth figures for order inflow for both Q4 and the full fiscal year, indicating that YoY comparison is the primary metric for assessing performance trends.
Order Inflow (FY26)
FY’26 - 51% YoY Growth ₹ 22,385 v/s ₹ 14,783 Million.
Order Inflow (Q4 FY26)
Q4 FY’26 - 61% YoY Growth ₹ 6,665 v/s ₹ 4,134 Million.
Order Book
Order Book on 31st March 2026 ₹ 19,729 Million.
Total Generators Installed
Total 8055 Generators (Including Made in Turkey Generators) in 113 Countries.
Commitment to Quality
Quality is a top priority for us, and we invest significant time and resources into maintaining and improving our procedures.
Operational Control
By having key operations under one roof, we can quickly adapt to customer requirements.
Competitive Positioning
Through these innovations [automation], we have positioned ourselves to stay competitive and deliver high quality products.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Order Inflow Growth | 51% YoY for FY26 | Monitor sustained growth rates and export contribution. |
| Order Book Value | ₹ 19,729 Million as of March 31, 2026 | Track conversion of order book into revenue and new order additions. |
| New Growth Avenues | Entry into retrofit and brownfield segment in US | Assess revenue contribution and expansion in new segments. |
| Geographic Expansion | New country added is Bahamas, total 113 countries | Monitor further expansion into new geographies and market share gains. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
37BearishSMA20 -2.9% / mo · MACD −
Technical chart
TDPOWERSYSdaily · 1Y · AUTO-16.3%Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 31.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~3.0% over last month) — short-term momentum negative.
- RSI(14) at 31 — sideways, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 54% off 52W high · 41% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation & score drivers
U-Score 55 · FAIR VALUE · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 55 · FAIR VALUE · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
FAIR VALUEWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Piotroski is strong at 8/9.
- Quality contributes 20/20 to the score.
- Growth contributes 17/25 to the score.
Main drags
- Penalty bucket subtracts 1 points.
- Fair-value margin of safety is negative at -112.4%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
High Trust: Claim history is still being built. It ranks around the 100th percentile of the scored universe and 100th percentile within Industrials. No major sub-score weakness stands out.
High Trust Lite: Promoter pledge is zero.
Management behaviour ranks as unusually reliable. Still verify valuation and cycle risk.
overall median 67 · Industrials: 100th pctile, median 68 · Micro: 100th pctile, median 73
142 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
High Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.1%.
- ▸7 years of positive FCF.
- ▸Debt/equity is 0.02.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 84.10
- P/B
- 21.57
- EV/EBITDA
- 56.72
- Market Cap
- 23125.00Cr
Profitability
- ROE
- 24.70%
- ROCE
- 34.00%
- ROA
- 14.65%
- Dividend Y
- 0.14%
Growth (CAGR)
- Revenue 5Y
- 26.00%
- EPS 5Y
- 43.00%
- Revenue 3Y
- 29.00%
- EPS 3Y
- 36.00%
Balance Sheet
- Debt/Equity
- 0.02
- Interest Coverage
- 191.50×
- Altman Z
- 8.79
- Book Value
- 34.30
Cash Flow
- FCF Yield
- 0.10%
- FCF Positive Y
- 7/5
- OCF
- 129.00 Cr
- EPS TTM
- 8.80
Shareholding
- Promoter Hold
- 26.87%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 89%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
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Peers
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Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.