Indo Tech Transformers Ltd.
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ABOUT
AI Sector View
AI GENERATEDCapital Goods
Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.
PROS
- Company has delivered good profit growth of 71.3% CAGR over last 5 years
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 37.5%
- Company has a good return on equity (ROE) track record: 3 Years ROE 26.1%
- Company has delivered good sales growth of 30.6% CAGR over last 5 years
- Latest quarter profit grew 34.1% YoY, showing strong momentum
CONS
- Promoter holding has decreased over last 2 years: -2.8pp
- Valuation is stretched - P/E of 39.1 is well above its own 5-year median (22.3)
- Growth is decelerating - 3Y profit CAGR (53.4%) trails the 5Y trend (71.3%)
- Though reporting repeated profits, the company pays out little dividend (11.4%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ABB | 7419.90 | 52.62 | 157233.90 | 0.53 | 3623.00 | 930.02 | 35588.70 | 1110.31 | 30.18 | 12.56 |
| SIEMENS | 3976.00 | 43.23 | 141593.51 | 0.45 | 214.31 | -49.38 | 4713.70 | 8.44 | 21.42 | 9.14 |
| POWERINDIA | 31650.00 | 122.63 | 141071.53 | 0.03 | 294.15 | 123.52 | 2493.69 | 74.46 | 28.73 | 14.58 |
| CGPOWER | 893.95 | 112.67 | 140837.36 | 0.15 | 308.28 | 15.52 | 3280.81 | 13.99 | 27.94 | 12.11 |
| ENRIN | 3114.90 | 74.55 | 110927.98 | 0.13 | 4409.00 | 1578.34 | 24856.00 | 1292.81 | 40.19 | 23.56 |
| GVT&D | 4325.00 | 593.01 | 110740.13 | 0.23 | 362.99 | 24.65 | 1836.14 | 38.04 | 75.51 | 25.10 |
| WAAREEENER | 2636.00 | 19.87 | 75824.89 | 0.15 | 891.87 | 15.39 | 7931.79 | 79.22 | 37.92 | 18.15 |
| APARINDS | 17412.20 | 61.71 | 72908.95 | 0.34 | 4674.50 | 1677.98 | 65910.60 | 1191.31 | 31.84 | 11.50 |
| HAVELLS | 1156.00 | 44.42 | 72546.13 | 0.87 | 289.71 | -16.64 | 6518.19 | 19.48 | 25.74 | 7.15 |
| SUZLON | 45.38 | 19.84 | 62377.70 | 0.00 | 305.22 | -5.89 | 3829.09 | 22.83 | 35.79 | 15.55 |
| SCHNEIDER | 1233.30 | 160.47 | 29488.70 | 0.00 | 124.40 | 201.65 | 6513.60 | 947.83 | 31.01 | 5.23 |
| INDOTECH | 3656.25 | 39.10 | 3882.94 | 0.27 | 25.70 | 34.06 | 227.89 | 39.02 | 40.35 | 13.95 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 93 | 96 | 139 | 175 | 82 | 146 | 177 | 206 | 164 | 183 | 196 | 239 | 228 | |
| 87 | 85 | 124 | 148 | 74 | 123 | 153 | 185 | 140 | 152 | 163 | 207 | 198 | |
| Operating Profit | 6 | 11 | 15 | 27 | 8 | 23 | 24 | 21 | 24 | 31 | 33 | 32 | 30 |
| OPM % | 6.50% | 11.73% | 10.93% | 15.25% | 9.97% | 15.74% | 13.67% | 10.03% | 14.64% | 16.93% | 16.81% | 13.54% | 12.97% |
| 1 | 2 | 1 | 3 | 2 | 3 | 6 | 5 | 3 | 4 | 2 | 1 | 5 | |
| Interest | 1 | 1 | 1 | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 |
| Profit before Tax | 5 | 11 | 14 | 27 | 8 | 24 | 29 | 24 | 25 | 33 | 34 | 32 | 34 |
| Tax % | 29.90% | 36.36% | 23.99% | 5.54% | 29.05% | 27.67% | 33.21% | 13.66% | 23.35% | 25.63% | 25.67% | 24.95% | 25.18% |
| Net Profit | 4 | 7 | 11 | 26 | 6 | 18 | 19 | 21 | 19 | 25 | 25 | 24 | 26 |
| 3.33 | 6.66 | 10.06 | 24.08 | 5.56 | 16.69 | 18.15 | 19.75 | 18.05 | 23.33 | 23.45 | 22.53 | 24.20 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 149 | 220 | 213 | 205 | 206 | 280 | 371 | 503 | 612 | 782 | 846 | |
| 152 | 221 | 215 | 203 | 195 | 258 | 335 | 451 | 530 | 653 | 720 | |
| Operating Profit | -3 | -1 | -2 | 2 | 11 | 22 | 36 | 53 | 82 | 129 | 126 |
| OPM % | -1.98% | -0.55% | -0.98% | 0.92% | 5.47% | 7.89% | 9.80% | 10.47% | 13.37% | 16.49% | 14.88% |
| 2 | 5 | 1 | 5 | 3 | 2 | 3 | 22 | 19 | 11 | 13 | |
| Interest | 3 | 2 | 2 | 2 | 3 | 7 | 8 | 12 | 11 | 11 | 2 |
| Depreciation | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 4 | 5 | 5 |
| Profit before Tax | -9 | -4 | -8 | 0 | 6 | 12 | 26 | 57 | 86 | 124 | 133 |
| Tax % | -24.34% | -0.00% | -0.00% | -1879.69% | 1.06% | 2.30% | 0.00% | 18.19% | 25.70% | 25.00% | 25.36% |
| Net Profit | -11 | -4 | -8 | 2 | 6 | 12 | 26 | 47 | 64 | 93 | 99 |
| EPS | -10.62 | -3.48 | -7.90 | 1.81 | 5.92 | 11.48 | 24.20 | 44.12 | 60.15 | 87.36 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 11.45% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 15%
- 5 Years:
- 31%
- 3 Years:
- 28%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 37%
- 5 Years:
- 71%
- 3 Years:
- 53%
STOCK PRICE CAGR
- 10 Years:
- 34%
- 5 Years:
- 85%
- 3 Years:
- 103%
- 1 Year:
- 105%
RETURN ON EQUITY
- 10 Years:
- 9%
- 5 Years:
- 21%
- 3 Years:
- 26%
- Last Year:
- 28%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 |
| 128 | 123 | 115 | 116 | 123 | 135 | 160 | 207 | 270 | 363 | |
| 0 | 0 | 0 | 0 | 0 | 1 | 11 | 4 | 5 | 2 | |
| Trade Payables | 38 | 55 | 45 | 57 | 38 | 70 | 89 | 85 | 48 | 58 |
| 24 | 19 | 23 | 19 | 16 | 23 | 29 | 74 | 119 | 147 | |
| Total Liabilities | 201 | 209 | 193 | 202 | 187 | 238 | 300 | 380 | 453 | 582 |
| 54 | 50 | 52 | 48 | 44 | 41 | 44 | 49 | 50 | 75 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 6 | 12 |
| 47 | 43 | 34 | 46 | 35 | 52 | 71 | 118 | 135 | 197 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 139 | 123 | 121 | |
| Cash & Bank | 10 | 13 | 30 | 13 | 22 | 43 | 42 | 58 | 93 | 114 |
| 89 | 102 | 77 | 95 | 87 | 102 | 141 | 16 | 47 | 64 | |
| Total Assets | 201 | 209 | 193 | 202 | 187 | 238 | 300 | 380 | 453 | 582 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -12 | 4 | 18 | -14 | 3 | 22 | -4 | 32 | 55 | 57 | |
| Cash from Investing | -1 | -1 | -1 | -2 | -3 | -9 | -15 | -12 | -18 | -53 |
| Cash from Financing | -1 | -0 | -0 | -0 | -0 | -0 | 9 | -8 | 1 | -5 |
| -14 | 2 | 16 | -16 | 5 | 13 | -9 | 12 | 39 | -1 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | -10.62 | -3.48 | -7.90 | 1.81 | 5.92 | 11.48 | 24.20 | 44.12 | 60.15 | 87.36 |
| Book Value (₹) | 130.12 | 126.27 | 117.86 | 119.14 | 125.45 | 136.65 | 160.93 | 204.48 | 264.36 | 351.89 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 10.00 |
| Cash EPS (₹) | -6.08 | 0.98 | -3.01 | 6.32 | 10.46 | 15.74 | 28.74 | 48.75 | 64.36 | 91.89 |
| PROFITABILITY | ||||||||||
| Operating Margin % | -0.69% | 1.48% | -0.39% | 3.56% | 6.89% | 8.50% | 10.51% | 10.47% | 13.37% | 16.49% |
| Net Margin % | -6.87% | -1.64% | -3.93% | 0.94% | 3.05% | 4.35% | 6.93% | 9.31% | 10.44% | 11.86% |
| ROE % | -7.69% | -2.71% | -6.47% | 1.53% | 4.84% | 8.76% | 16.27% | 24.15% | 25.66% | 28.35% |
| ROCE % | -4.06% | -1.02% | -4.65% | 2.01% | 7.21% | 13.82% | 20.84% | 34.49% | 37.81% | 40.35% |
| -5.46% | -1.81% | -4.17% | 0.97% | 3.24% | 5.74% | 9.55% | 13.79% | 15.34% | 17.92% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 138 | 112 | 121 | 121 | 127 | 98 | 104 | 97 | 78 | 57 |
| Inventory Days | 92 | 73 | 66 | 72 | 72 | 56 | 61 | 69 | 75 | 77 |
| Payable Days | 133 | 99 | 112 | 121 | 120 | 100 | 110 | 90 | 55 | 35 |
| 97 | 87 | 75 | 71 | 78 | 54 | 54 | 76 | 98 | 99 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.07x | 0.02x | 0.03x | 0.01x |
| Interest Coverage (x) | -1.91x | -0.60x | -2.56x | 1.04x | 3.11x | 2.84x | 4.03x | 5.60x | 9.09x | 12.21x |
| 2.17x | 2.00x | 2.01x | 1.95x | 2.59x | 2.06x | 1.96x | 2.03x | 2.28x | 2.34x | |
| GROWTH | ||||||||||
| Revenue Growth % | -21.63% | 47.96% | -3.08% | -3.78% | 0.33% | 35.96% | 32.43% | 35.67% | 21.57% | 27.84% |
| Operating Profit Growth % | -109.64% | 393.89% | -125.15% | 968.70% | 93.91% | 67.63% | 63.90% | 91.43% | 35.40% | 38.07% |
| Net Profit Growth % | -380.12% | 67.23% | -127.09% | 122.89% | 227.33% | 93.92% | 110.85% | 82.32% | 36.32% | 45.22% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 82.32% | 36.32% | 45.22% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 22.33x | 37.42x | 12.68x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 4.82x | 8.51x | 3.15x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.90% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 13.31x | 22.81x | 7.65x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-02 - Indo Tech Transformers Limited has informed the Exchange about Bagging/Receiving of orders
2026-09-01 - Indo Tech Transformers Limited has informed the Exchange about Bagging orders - Corrigendum to submission dated August 31, 2026
2026-08-31 - Indo Tech Transformers Limited has informed the Exchange about Bagging of orders
2026-08-27 - Indo Tech Transformers Limited has informed the Exchange about Copy of Newspaper Publication on Intimation of AGM Notice and Date, Record Date, Book Closure and Cut-off Date for E-Voting dated August 27, 2026 in Financial Express (Page 20) and Makkal Kural (Page 5)
2026-08-27 - Indo Tech Transformers Limited has informed the Exchange about Date of the AGM, Record Date, Book Closure and Cut-off Date for E-Voting
2026-08-27 - Indo Tech Transformers Limited has informed the Exchange about 34th Annual General Meeting to be held on Wednesday, September 23, 2026
2026-08-24 - Indo Tech Transformers Limited has informed the Exchange about Copy of Newspaper Publication on "AGM intimation, KYC updation and Communication on Tax Deduction at Source (TDS) on Dividend" on Financial express (English) and Makkal Kural (Tamil) dated August 24, 2026
2026-08-17 - Indo Tech Transformers Limited has informed the Exchange about Credit Rating- Revision dated August 17, 2026
2026-08-14 - Indo Tech Transformers Limited has informed the Exchange about Copy of Newspaper Publication in page 12 of Financial Express and Page 5 of Makkal Kural dated August 13, 2026 on financial results for the quarter ended June 30, 2026
News
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