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Indian maker of electric generators and motors for power plants, marine and industrial applications.
Indian maker of electric generators and motors for power plants, marine and industrial applications.
Sells made-to-order generators and motors, so revenue arrives as orders are delivered and follows capital spending by power producers and equipment makers, with exports a meaningful share of the order book.
Moat: narrow (process know-how, customer qualification). Technical generator-design expertise built via past global tie-ups, but Siemens/GE and Chinese makers compete on larger projects.
Headquarters: Bengaluru, India · Founded: 1999 · Employees: 970
Size TD Power Systems (TDPOWERSYS.NS) is an India Industrials company (Electrical Products) with a market value of $1.96B, the 374th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹576.50 on 6 Nov 2026.
Performance Over six months the shares fell 7.4%, against -20.2% for the median peer and 0.0% for the India market (cap-weighted) — 6th highest of 19 in its peer set.
Growth Revenue grew 54.3% over the last twelve months (peer median +4.8%); the operating margin is 16.8% (peer median 8.2%).
Valuation It trades at 47.1× forward earnings against a peer median of 21.8× (4th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about 41% a year for seven years (Req g). Recent delivered growth is +26%, so the hurdle is +15 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 11.7 points above its cost of capital (13.2% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹21.2B | ₹18.6B | ₹12.8B | ₹10.0B | ₹8.72B |
| Revenue growth | — | +45% | +28% | +15% | — |
| Gross profit | ₹4.99B | ₹3.99B | ₹2.84B | ₹1.95B | ₹1.53B |
| EBITDA | ₹3.83B | ₹3.39B | ₹2.38B | ₹1.73B | ₹1.35B |
| Net income | ₹2.75B | ₹2.39B | ₹1.75B | ₹1.18B | ₹968M |
| Free cash flow | n/a | ₹306M | -₹6.84M | ₹542M | ₹777M |
| Capital expenditure | n/a | ₹1.11B | ₹560M | ₹447M | ₹207M |
| Total debt | n/a | ₹181M | ₹122M | ₹95,000 | ₹0 |
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 |
|---|---|---|---|---|---|---|
| TD Power Systems TDPOWERSYS.NS | $1.96B | -7% | +54% | 17% | 47.1× | 40.6% |
| GE Vernova GEV | $205B | -26% | +17% | 7% | 32.2× | 24.9% |
| Bharat Heavy Electricals BHEL.NS | $15.4B | +3% | +29% | 9% | 41.2× | 44.1% |
| Siemens Energy ENR.DE | $111B | -33% | +9% | 9% | 26.4× | 17.3% |
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 | TDPOWERSYS.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -29.8% | -9.7% | 4th lowest of 21 |
| 6-month return | -7.4% | -20.2% | 6th highest of 19 |
| Distance from 52-week high | -32.7% | -43.0% | 9th highest of 21 |
| Revenue growth (TTM) | +54.3% | +4.8% | 3rd highest of 21 |
| Operating margin | 16.8% | 8.2% | 6th highest of 21 |
| Forward P/E | 47.1× | 21.8× | 4th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 40.6% | 5.7% | 2nd most demanding of 11 |
| Growth delivered (Del g) | +25.6% | +7.6% | highest of 11 |
| Hurdle (Req g minus delivered) | +15.0 pp | -2.1 pp | 4th most demanding of 11 |
| ROIC minus cost of capital | +11.7 pp | -1.9 pp | 2nd highest of 20 |
| EV / EBITDA | 48.4× | 8.3× | most expensive of 8 |
| Net debt / EBITDA | -0.5× | -0.1× | 4th least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| TD Power Systems TDPOWERSYS.NS | India | $1.96B | -7% | +54% | 17% | 47.1× | 40.6% | +25.6% |
| Meidensha 6508.T | Japan | $1.96B | -20% | +12% | 10% | 11.0× | 5.1% | +7.1% |
| Jiangxi Special Electric Motor 002176.SZ | China | $1.96B | -52% | -13% | -13% | n/a | 48.7% | +1.2% |
| Jinlongyu 002882.SZ | China | $1.97B | -21% | -1% | 3% | n/a | n/a | n/a |
| SMA Solar Technology S92.DE | Germany | $1.99B | -21% | +4% | -7% | 16.7× | -4.2% | +8.1% |
| Xian Sinofuse Electric 301031.SZ | China | $1.99B | -16% | +56% | 21% | 22.1× | n/a | n/a |
| Minmetals New Energy Materials (Hunan) 688779.SS | China | $2.00B | -36% | +146% | 5% | 23.8× | n/a | n/a |
| Simplo Technology 6121.TWO | Taiwan | $1.90B | -6% | +3% | 11% | 9.6× | -20.1% | -0.8% |
| Jiangsu Cnano Technology 688116.SS | China | $1.90B | -19% | +8% | 19% | 32.6× | n/a | n/a |
| Jiangsu Leili Motor 300660.SZ | China | $1.90B | -33% | +16% | 5% | 70.5× | 29.1% | +11.6% |
| Dajin Heavy Industry 1081.HK | Hong Kong | $2.03B | n/a | +2% | 19% | 10.6× | n/a | n/a |
| Hangzhou Zhongheng Electric 002364.SZ | China | $1.89B | -40% | +17% | 4% | 70.6× | n/a | n/a |
| AQ Group AB AQ.ST | Sweden | $2.04B | -5% | +11% | 9% | 24.7× | 12.4% | +13.5% |
| Zhejiang E-P Equipment 603194.SS | China | $2.04B | -3% | +17% | 13% | 14.8× | n/a | n/a |
| Titan Wind Energy (Suzhou) 002531.SZ | China | $2.05B | -37% | -1% | 5% | 29.4× | n/a | n/a |
| CETC Chips Technology 600877.SS | China | $1.87B | -36% | -2% | -3% | n/a | n/a | n/a |
| Hengdian Group Tospo Lighting 603303.SS | China | $1.86B | +44% | +5% | 1% | 70.3× | 35.6% | -0.8% |
| Ligent Technologies 9856.HK | Hong Kong | $2.07B | n/a | +33% | 12% | n/a | n/a | n/a |
| Chung-Hsin Electric & Machinery Manufacturing 1513.TW | Taiwan | $2.07B | -10% | +4% | 19% | 14.7× | -2.2% | +12.3% |
| Signify LIGHT.AS | Netherlands | $2.09B | -26% | -8% | 7% | 8.5× | -12.5% | -2.4% |
| Voltronic Power Technology 6409.TW | Taiwan | $2.10B | +1% | -13% | 20% | 21.5× | 6.2% | +8.5% |