Capital Goods · NSE/BSE: TDPOWERSYS
TD Power Systems Limited
Heavy Electrical Equipment
Market Cap ₹0.18L Cr
Verdict: Average
Quality Scores
Multi-Bagger
74/100
Compounder Quality
81/100
Management Credibility
85/100
Governance
78/100
Cash Flow Quality
62/100
AI Summary
TD Power Systems (TDPS) has successfully pivoted from a struggling industrial manufacturer in FY15-18 to a high-growth power equipment player by FY24-26. The company specializes in AC generators and electric motors, benefiting from a cyclical upswing in energy and industrial infrastructure. While historical performance was marred by losses and inconsistent margins, recent years demonstrate explosive revenue growth (45% TTM) and margin expansion to 18%. The balance sheet is exceptionally clean with almost zero debt, but the valuation has reached a steep 78x P/E. Investor interest is high, but…
Top Opportunities
- Exceptional 5-year Profit CAGR of 43.4%
- Almost zero debt capital structure
- Industry-leading ROCE of 33.4%
Top Risks
- Drastic reduction in Promoter holding (31%+ over 3 years)
- Long Working Capital Cycle (173 days)
- Consistent inventory buildup (753 Cr in FY26)
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