TD Power Systems Ltd

📊 TD Power Systems: Q1 Order Inflow Surges 87%, Order Book at ₹22.08 Billion

- Q1 FY27 standalone total income was INR6.3 billion, up 74% from INR3.63 billion in Q1 FY26.

- Q1 FY27 standalone EBITDA margin was 19.34% (including other income, excluding exceptional and treasury income), up from 18.7% in Q1 FY26.

- Q1 FY27 standalone profit after tax was INR853 million, up 81% from INR471 million in Q1 FY26.

- Manufacturing segment order book stands at INR22.08 billion, comprising INR19.29 billion from generator & motor business, INR2.11 billion from railway, INR0.22 billion from spares & aftermarket, and INR0.46 billion from Turkey business.

- Export and deemed exports (excluding railway orders) contributed 57% of order book.

- Q1 FY27 order inflow was INR7.34 billion, up 87% Q-o-Q; export/deemed export orders were INR6.84 billion (93% of inflow), domestic orders were 7%.

- Consolidated Q1 FY27 sales were INR6.43 billion, up 71% from INR3.76 billion; profit after tax was INR860 million, up 72% from INR500 million.

- Company maintains strong cash position of INR2.4 billion.

- Management revised FY27 revenue guidance to INR2,600 crores, with potential to exceed.

- Capacity enhancement planned: INR500 million debottlenecking investment to increase FY28 capacity to around INR32 billion; further capacity addition planned for FY29/FY30 to reach INR40 billion+.

- Large generator segment (above 100 MW) opportunity close to signing; announcement expected in August.

- Order inflow forecast for full year FY27 is around INR2,800 crores (approx. INR700 crores per quarter).

- FY27 capex anticipated at INR50 crores.

- Turkey subsidiary expected to execute EUR3-3.5 million orders in FY27; facility to be maintained as service backup.

- Gross margin maintained via levers: price variation clauses, cost reductions, product mix, and exchange rates.

- Domestic demand remains subdued (~10-12% growth); major growth driven by exports.

- Working capital expected to remain in line with growth; other current liabilities increased due to customer advances and tax provisions.