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Indian manufacturer of power and distribution transformers for utilities and industrial customers.
Indian manufacturer of power and distribution transformers for utilities and industrial customers.
Wins most orders through tenders from state-run utilities and from developers and contractors building substations and renewable-energy connections, so revenue follows tender wins and delivery schedules. Copper and special steel make up much of its cost, which matters when a price is agreed at the time of the bid.
Moat: narrow (process know-how, customer qualification). Established transformer manufacturing and utility qualification, but the sector has several well-capitalized Indian competitors.
Headquarters: Anand, India · Founded: 1986 · Employees: 1,079
Size Atlanta Electricals (ATLANTAELE.NS) is an India Industrials company (Electrical Products) with a market value of $1.19B, the 547th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹1,462 on 6 Nov 2026.
Performance Over six months the shares fell 9.6%, against -32.0% for the median peer and 0.0% for the India market (cap-weighted) — 2nd highest of 20 in its peer set.
Growth Revenue grew 58.9% over the last twelve months (peer median +10.8%); the operating margin is 16.3% (peer median 3.6%).
Valuation It trades at 38.9× forward earnings against a peer median of 22.1× (6th most expensive of 14).
Price implies For today's price to make sense, revenue must grow about 21% a year for seven years (Req g). Recent delivered growth is +28%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 15.7 points above its cost of capital (10.2% WACC).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹20.8B | ₹18.5B | ₹12.4B | ₹8.68B | ₹8.74B |
| Revenue growth | — | +49% | +43% | -1% | — |
| Gross profit | ₹5.15B | ₹4.24B | ₹2.58B | ₹1.68B | ₹1.85B |
| EBITDA | ₹3.78B | ₹3.48B | ₹1.96B | ₹1.20B | ₹1.41B |
| Net income | ₹2.24B | ₹2.02B | ₹1.19B | ₹635M | ₹875M |
| Free cash flow | n/a | ₹200M | -₹592M | ₹296M | ₹201M |
| Capital expenditure | n/a | ₹1.16B | ₹1.13B | ₹322M | ₹68.5M |
| Total debt | ₹731M | ₹507M | ₹1.46B | ₹488M | ₹740M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Atlanta Electricals ATLANTAELE.NS | $1.19B | -10% | +59% | 16% | 38.9× | 20.6% |
| Voltamp Transformers VOLTAMP.NS | $1.04B | +1% | +18% | 15% | 28.6× | 35.4% |
| Transformers and Rectifiers (India) TARIL.NS | $974M | -7% | +27% | 15% | 26.3× | n/a |
| CG Power & Industrial Solutions CGPOWER.NS | $12.9B | -10% | +24% | 12% | 72.3× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ATLANTAELE.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -22.1% | -17.3% | 8th lowest of 21 |
| 6-month return | -9.6% | -32.0% | 2nd highest of 20 |
| Distance from 52-week high | -32.1% | -55.4% | 4th highest of 21 |
| Revenue growth (TTM) | +58.9% | +10.8% | 3rd highest of 21 |
| Operating margin | 16.3% | 3.6% | 3rd highest of 21 |
| Forward P/E | 38.9× | 22.1× | 6th most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 20.6% | 21.6% | 4th least demanding of 8 |
| Growth delivered (Del g) | +28.4% | +16.2% | highest of 7 |
| Hurdle (Req g minus delivered) | -7.9 pp | +17.9 pp | 2nd least demanding of 7 |
| ROIC minus cost of capital | +15.7 pp | -3.6 pp | highest of 21 |
| EV / EBITDA | 29.7× | 26.9× | 4th cheapest of 7 |
| Net debt / EBITDA | -0.1× | 0.4× | 5th least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Atlanta Electricals ATLANTAELE.NS | India | $1.19B | -10% | +59% | 16% | 38.9× | 20.6% | +28.4% |
| Jiangsu Zenergy Battery Technologies 3677.HK | Hong Kong | $1.19B | -56% | +58% | 6% | 8.1× | n/a | n/a |
| PFISTERER PFS0.DE | Germany | $1.18B | n/a | +17% | 14% | 16.6× | 15.5% | n/a |
| Jiangsu Haili Wind Power Equipment Technology 301155.SZ | China | $1.18B | -31% | -69% | -17% | 78.0× | n/a | n/a |
| PowerX 485A.T | Japan | $1.20B | -55% | +213% | -1% | n/a | n/a | n/a |
| Shenzhen Mason Technologies 002654.SZ | China | $1.18B | -34% | -6% | 1% | n/a | n/a | n/a |
| Harbin Electric Corp. Jiamusi Electric Machine 000922.SZ | China | $1.18B | -22% | +3% | 7% | 25.2× | 11.1% | +15.8% |
| SPG 058610.KS | South Korea | $1.20B | -42% | -7% | 5% | 104.8× | 40.9% | -0.8% |
| Shenzhen Desay Battery Technology 000049.SZ | China | $1.20B | -28% | +9% | 2% | 19.5× | n/a | n/a |
| Lotte Energy Materials 020150.KS | South Korea | $1.21B | -53% | -12% | -13% | n/a | n/a | n/a |
| Jiangsu Xihua New Energy Technology 603248.SS | China | $1.21B | -31% | +32% | 33% | n/a | n/a | n/a |
| Taihan Fiberoptics 010170.KS | South Korea | $1.21B | -30% | +6% | -10% | n/a | n/a | n/a |
| Shandong Sacred Sun Power Sources 002580.SZ | China | $1.23B | -34% | +22% | 4% | n/a | 21.6% | +14.2% |
| FOCI Fiber Optic Communications 3363.TWO | Taiwan | $1.24B | -59% | -2% | -16% | 92.0× | n/a | n/a |
| Goldcup Electric Apparatus 002533.SZ | China | $1.14B | -21% | +23% | 3% | 11.0× | n/a | n/a |
| Keli Motor 002892.SZ | China | $1.13B | -14% | +13% | -1% | n/a | n/a | n/a |
| American Superconductor AMSC | United States | $1.13B | -58% | +26% | 4% | 22.1× | 56.5% | +28.0% |
| Sunstone Development 603612.SS | China | $1.25B | -32% | +28% | 8% | 10.1× | n/a | n/a |
| Sinofibers Technology 300777.SZ | China | $1.26B | -48% | -61% | -25% | 40.7× | 55.1% | +16.7% |
| Quality Power Electrical Equipments QPOWER.NS | India | $1.12B | +7% | +90% | 19% | 56.3× | n/a | n/a |
| Volex VLX.L | United Kingdom | $1.27B | -20% | +9% | 9% | 13.4× | 13.2% | +22.3% |