Quality Power Electrical Equipments Ltd.

•

₹ 1,305.6-2.19%

2026-08-21

qualitypower.comBSE: 544367NSE: QPOWER

Market Cap₹ 10,034 Cr.

Current Price₹ 1,335

High / Low₹ 1,441 / 581

Stock P/E75.3

Book Value₹ 76

Price to Book5.80

Dividend Yield0.08 %

ROCE36.7 %

ROE34.7 %

Face Value₹ 10

Add ratio to table

ABOUT

KEY POINTS

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 40.9%
Company has a good return on equity (ROE) track record: 3 Years ROE 38.5%
Latest quarter profit grew 26.1% YoY, showing strong momentum
Company comfortably covers its interest (47.0x coverage)
Company generates healthy free cash flow

CONS

Receivables are growing faster than sales - a possible quality concern
A large part of profit comes from other income (49.6% of PBT)
Working capital days have increased from 80 to 387 days
Operating margins have contracted to 19.4% from 28.6%
Effective tax rate is unusually low at 10.8% - earnings may be flattered
Recurring exceptional / one-off items are inflating headline profit

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS

Capital GoodsCapital GoodsElectric Equipment

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	ABB	7400.00	52.48	156812.20	0.53	3623.00	930.02	35588.70	1110.31	30.18	12.56
2.	POWERINDIA	33550.00	0.00	149540.28	0.02	294.15	123.52	2493.69	74.46	28.73	14.58
3.	SIEMENS	3880.10	42.19	138178.32	0.46	214.31	-49.38	4713.70	8.44	21.42	9.14
4.	CGPOWER	862.90	108.75	135945.59	0.15	308.28	15.52	3280.81	13.99	27.94	12.11
5.	ENRIN	3483.60	0.00	124058.14	0.11	4409.00	1578.34	24856.00	1292.81	40.19	23.56
6.	GVT&D	4119.00	564.77	105465.57	0.24	362.99	24.65	1836.14	38.04	75.51	25.10
7.	HAVELLS	1278.00	49.11	80202.38	0.78	289.71	-16.64	6518.19	19.48	25.74	7.15
8.	WAAREEENER	2688.00	20.26	77320.68	0.15	891.87	15.39	7931.79	79.22	34.71	18.15
9.	APARINDS	16607.65	58.86	69540.11	0.36	4674.50	1677.98	65910.60	1191.31	33.47	11.50
10.	SUZLON	46.78	20.45	64302.09	0.00	305.22	-5.89	3829.09	22.83	35.79	15.55
11.	SCHNEIDER	1254.75	0.00	30001.58	0.00	124.40	201.65	6513.60	947.83	31.01	5.23
12.	QPOWER	1295.60	75.27	10033.66	0.08	46.72	26.06	232.67	31.66	36.72	18.09

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	142	39	61	94	73	108	177	206	284	281	233
	131	26	38	86	55	92	146	170	205	251	197
Operating Profit	—	—	—	—	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—	—	—	—	—
Other Income	9	6	18	9	7	22	17	13	0	29	24
Interest	1	0	1	1	1	0	1	2	1	2	1
Depreciation	1	1	1	1	1	2	3	3	3	4	4
	15	22	41	14	22	36	44	44	74	53	61
Tax %	7.26%	19.26%	17.96%	5.09%	10.35%	14.30%	16.30%	20.60%	15.44%	12.83%	22.79%
Net Profit	0	0	0	0	20	31	37	35	63	51	47
	2	2	4	2	2	3	3	3	5	4	0
Equity Capital	0	72	72	72	72	77	77	77	77	77	77
Reserves	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Equity Capital	0	72	72	72	72	77	77	77	77	77	77
Reserves	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Dec 2023

: 142
: 131
Operating Profit: —
OPM %: —
Other Income: 9
Interest: 1
Depreciation: 1
: 15
Tax %: 7.26%
Net Profit: 0
: 2
Equity Capital: 0
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 0
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2024

: 39
: 26
Operating Profit: —
OPM %: —
Other Income: 6
Interest: 0
Depreciation: 1
: 22
Tax %: 19.26%
Net Profit: 0
: 2
Equity Capital: 72
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 72
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2024

: 61
: 38
Operating Profit: —
OPM %: —
Other Income: 18
Interest: 1
Depreciation: 1
: 41
Tax %: 17.96%
Net Profit: 0
: 4
Equity Capital: 72
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 72
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2024

: 94
: 86
Operating Profit: —
OPM %: —
Other Income: 9
Interest: 1
Depreciation: 1
: 14
Tax %: 5.09%
Net Profit: 0
: 2
Equity Capital: 72
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 72
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2024

: 73
: 55
Operating Profit: —
OPM %: —
Other Income: 7
Interest: 1
Depreciation: 1
: 22
Tax %: 10.35%
Net Profit: 20
: 2
Equity Capital: 72
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 72
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2025

: 108
: 92
Operating Profit: —
OPM %: —
Other Income: 22
Interest: 0
Depreciation: 2
: 36
Tax %: 14.30%
Net Profit: 31
: 3
Equity Capital: 77
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 77
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2025

: 177
: 146
Operating Profit: —
OPM %: —
Other Income: 17
Interest: 1
Depreciation: 3
: 44
Tax %: 16.30%
Net Profit: 37
: 3
Equity Capital: 77
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 77
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2025

: 206
: 170
Operating Profit: —
OPM %: —
Other Income: 13
Interest: 2
Depreciation: 3
: 44
Tax %: 20.60%
Net Profit: 35
: 3
Equity Capital: 77
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 77
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2025

: 284
: 205
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 1
Depreciation: 3
: 74
Tax %: 15.44%
Net Profit: 63
: 5
Equity Capital: 77
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 77
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2026

: 281
: 251
Operating Profit: —
OPM %: —
Other Income: 29
Interest: 2
Depreciation: 4
: 53
Tax %: 12.83%
Net Profit: 51
: 4
Equity Capital: 77
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 77
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2026

: 233
: 197
Operating Profit: —
OPM %: —
Other Income: 24
Interest: 1
Depreciation: 4
: 61
Tax %: 22.79%
Net Profit: 47
: 0
Equity Capital: 77
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 77
Reserves: 0
Promoter Pledge %: 0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	183	253	302	337	1,003
	159	221	263	271	822
Operating Profit	52	52	69	121	—
OPM %	29	21	23	36	—
Other Income	29	20	30	56	66
Interest	1	3	2	2	7
Depreciation	2	2	3	5	14
	49	48	63	112	233
Tax %	14	16	12	11	18
Net Profit	42	40	55	100	191
EPS	2	3	8	13	—
Dividend Payout %	0	0	0	8	—
Minority Interest	0	0	0	0	3
Share of Associates	0	0	0	0	5
Adjusted EPS	6	6	8	13	—
Minority Interest	0	0	0	0	3
Share of Associates	0	0	0	0	5
Adjusted EPS	6	6	8	13	—

Mar 2022

: 183
: 159
Operating Profit: 52
OPM %: 29
Other Income: 29
Interest: 1
Depreciation: 2
: 49
Tax %: 14
Net Profit: 42
EPS: 2
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6

Mar 2023

: 253
: 221
Operating Profit: 52
OPM %: 21
Other Income: 20
Interest: 3
Depreciation: 2
: 48
Tax %: 16
Net Profit: 40
EPS: 3
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6

Mar 2024

: 302
: 263
Operating Profit: 69
OPM %: 23
Other Income: 30
Interest: 2
Depreciation: 3
: 63
Tax %: 12
Net Profit: 55
EPS: 8
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 8
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 8

Mar 2025

: 337
: 271
Operating Profit: 121
OPM %: 36
Other Income: 56
Interest: 2
Depreciation: 5
: 112
Tax %: 11
Net Profit: 100
EPS: 13
Dividend Payout %: 8
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 13
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 13

TTM

: 1,003
: 822
Operating Profit: —
OPM %: —
Other Income: 66
Interest: 7
Depreciation: 14
: 233
Tax %: 18
Net Profit: 191
EPS: —
Dividend Payout %: —
Minority Interest: 3
Share of Associates: 5
Adjusted EPS: —
Minority Interest: 3
Share of Associates: 5
Adjusted EPS: —

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 23%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 33%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: 70%

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 38%
Last Year:: 35%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-
Equity Capital	0	0	72	77
	92	112	81	347
	11	10	34	8
Trade Payables	27	53	64	92
	120	135	107	286
Total Liabilities	251	310	358	810
ASSETS	-	-	-	-
	34	39	66	238
Capital Work in Progress	0	1	2	2
	0	31	48	37
	41	48	23	102
	0	0	79	137
Cash & Bank	68	52	48	210
	108	140	92	85
Total Assets	251	310	358	810
Total Debt	12	11	38	9
Net Working Capital	90	85	66	357
Contingent Liabilities	20	21	40	168
Book Value per Share	616933.33	747333.33	21.23	54.80
Face Value	1000.00	1000.00	10.00	10.00
Total Debt	12	11	38	9
Net Working Capital	90	85	66	357
Contingent Liabilities	20	21	40	168
Book Value per Share	616933.33	747333.33	21.23	54.80
Face Value	1000.00	1000.00	10.00	10.00

Mar 2022

Equity Capital: 0
: 92
: 11
Trade Payables: 27
: 120
Total Liabilities: 251
: 34
Capital Work in Progress: 0
: 0
: 41
: 0
Cash & Bank: 68
: 108
Total Assets: 251
Total Debt: 12
Net Working Capital: 90
Contingent Liabilities: 20
Book Value per Share: 616933.33
Face Value: 1000.00
Total Debt: 12
Net Working Capital: 90
Contingent Liabilities: 20
Book Value per Share: 616933.33
Face Value: 1000.00

Mar 2023

Equity Capital: 0
: 112
: 10
Trade Payables: 53
: 135
Total Liabilities: 310
: 39
Capital Work in Progress: 1
: 31
: 48
: 0
Cash & Bank: 52
: 140
Total Assets: 310
Total Debt: 11
Net Working Capital: 85
Contingent Liabilities: 21
Book Value per Share: 747333.33
Face Value: 1000.00
Total Debt: 11
Net Working Capital: 85
Contingent Liabilities: 21
Book Value per Share: 747333.33
Face Value: 1000.00

Mar 2024

Equity Capital: 72
: 81
: 34
Trade Payables: 64
: 107
Total Liabilities: 358
: 66
Capital Work in Progress: 2
: 48
: 23
: 79
Cash & Bank: 48
: 92
Total Assets: 358
Total Debt: 38
Net Working Capital: 66
Contingent Liabilities: 40
Book Value per Share: 21.23
Face Value: 10.00
Total Debt: 38
Net Working Capital: 66
Contingent Liabilities: 40
Book Value per Share: 21.23
Face Value: 10.00

Mar 2025

Equity Capital: 77
: 347
: 8
Trade Payables: 92
: 286
Total Liabilities: 810
: 238
Capital Work in Progress: 2
: 37
: 102
: 137
Cash & Bank: 210
: 85
Total Assets: 810
Total Debt: 9
Net Working Capital: 357
Contingent Liabilities: 168
Book Value per Share: 54.80
Face Value: 10.00
Total Debt: 9
Net Working Capital: 357
Contingent Liabilities: 168
Book Value per Share: 54.80
Face Value: 10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	9	44	52	62
Cash from Investing	21	-31	-39	-93
Cash from Financing	2	-4	25	171
	31	10	38	141
Free Cash Flow	9	36	21	-116
OCF / Net Profit	0.20	1.11	0.93	0.62
Cumulative 5-Year FCF	0	0	0	0
OCF / Net Profit	0.20	1.11	0.93	0.62
Cumulative 5-Year FCF	0	0	0	0

Mar 2022

: 9
Cash from Investing: 21
Cash from Financing: 2
: 31
Free Cash Flow: 9
OCF / Net Profit: 0.20
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.20
Cumulative 5-Year FCF: 0

Mar 2023

: 44
Cash from Investing: -31
Cash from Financing: -4
: 10
Free Cash Flow: 36
OCF / Net Profit: 1.11
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.11
Cumulative 5-Year FCF: 0

Mar 2024

: 52
Cash from Investing: -39
Cash from Financing: 25
: 38
Free Cash Flow: 21
OCF / Net Profit: 0.93
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.93
Cumulative 5-Year FCF: 0

Mar 2025

: 62
Cash from Investing: -93
Cash from Financing: 171
: 141
Free Cash Flow: -116
OCF / Net Profit: 0.62
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.62
Cumulative 5-Year FCF: 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE	-	-	-	-
EPS (₹)	281513.33	265946.67	7.69	12.93
Book Value (₹)	616933.33	747333.33	21.23	54.80
Dividend per Share (₹)	0.00	0.00	0.00	1.00
Cash EPS (₹)	0.00	0.00	8.16	13.54
PROFITABILITY	-	-	-	-
Operating Margin %	28.62%	20.71%	12.88%	19.41%
Net Margin %	23.12%	15.75%	18.38%	29.75%
ROE %	45.63%	38.99%	41.82%	34.68%
ROCE %	48.50%	44.37%	41.73%	36.72%
	16.84%	14.22%	16.60%	17.15%
EFFICIENCY	-	-	-	-
Debtor Days	108	86	87	117
Inventory Days	81	64	43	68
Payable Days	93	91	106	142
	96	58	24	44
FINANCIAL HEALTH	-	-	-	-
Debt to Equity (x)	0.12x	0.09x	0.25x	0.02x
Interest Coverage (x)	34.19x	18.88x	28.57x	47.03x
	1.98x	1.63x	1.40x	2.90x
GROWTH	-	-	-	-
Revenue Growth %	0.00%	38.66%	19.18%	11.54%
Operating Profit Growth %	0.00%	0.34%	30.87%	76.30%
Net Profit Growth %	0.00%	-5.53%	39.07%	80.53%
	0.00%	0.00%	-100.00%	68.19%
VALUATION	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	24.59x
P/B (x)	0.00x	0.00x	0.00x	5.80x
Dividend Yield %	0.00%	0.00%	0.00%	0.31%
	0.00x	0.00x	0.91x	18.69x

Mar 2022

EPS (₹): 281513.33
Book Value (₹): 616933.33
Dividend per Share (₹): 0.00
Cash EPS (₹): 0.00
Operating Margin %: 28.62%
Net Margin %: 23.12%
ROE %: 45.63%
ROCE %: 48.50%
: 16.84%
Debtor Days: 108
Inventory Days: 81
Payable Days: 93
: 96
Debt to Equity (x): 0.12x
Interest Coverage (x): 34.19x
: 1.98x
Revenue Growth %: 0.00%
Operating Profit Growth %: 0.00%
Net Profit Growth %: 0.00%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 265946.67
Book Value (₹): 747333.33
Dividend per Share (₹): 0.00
Cash EPS (₹): 0.00
Operating Margin %: 20.71%
Net Margin %: 15.75%
ROE %: 38.99%
ROCE %: 44.37%
: 14.22%
Debtor Days: 86
Inventory Days: 64
Payable Days: 91
: 58
Debt to Equity (x): 0.09x
Interest Coverage (x): 18.88x
: 1.63x
Revenue Growth %: 38.66%
Operating Profit Growth %: 0.34%
Net Profit Growth %: -5.53%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 7.69
Book Value (₹): 21.23
Dividend per Share (₹): 0.00
Cash EPS (₹): 8.16
Operating Margin %: 12.88%
Net Margin %: 18.38%
ROE %: 41.82%
ROCE %: 41.73%
: 16.60%
Debtor Days: 87
Inventory Days: 43
Payable Days: 106
: 24
Debt to Equity (x): 0.25x
Interest Coverage (x): 28.57x
: 1.40x
Revenue Growth %: 19.18%
Operating Profit Growth %: 30.87%
Net Profit Growth %: 39.07%
: -100.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.91x

Mar 2025

EPS (₹): 12.93
Book Value (₹): 54.80
Dividend per Share (₹): 1.00
Cash EPS (₹): 13.54
Operating Margin %: 19.41%
Net Margin %: 29.75%
ROE %: 34.68%
ROCE %: 36.72%
: 17.15%
Debtor Days: 117
Inventory Days: 68
Payable Days: 142
: 44
Debt to Equity (x): 0.02x
Interest Coverage (x): 47.03x
: 2.90x
Revenue Growth %: 11.54%
Operating Profit Growth %: 76.30%
Net Profit Growth %: 80.53%
: 68.19%
P/E (x): 24.59x
P/B (x): 5.80x
Dividend Yield %: 0.31%
: 18.69x

Shareholding Pattern

Numbers in percentages

TRADES

	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	73.91	73.91	73.91	73.91	73.91	73.91
	3.99	1.97	2.13	1.97	2.29	3.37
	8.00	6.00	5.92	6.03	5.97	6.45
Government	0.00	0.00	0.00	0.00	0.00	0.00
	14.09	18.12	18.05	18.10	17.84	16.28

Mar 2025

: 73.91
: 3.99
: 8.00
Government: 0.00
: 14.09

Jun 2025

: 73.91
: 1.97
: 6.00
Government: 0.00
: 18.12

Sep 2025

: 73.91
: 2.13
: 5.92
Government: 0.00
: 18.05

Dec 2025

: 73.91
: 1.97
: 6.03
Government: 0.00
: 18.10

Mar 2026

: 73.91
: 2.29
: 5.97
Government: 0.00
: 17.84

Jun 2026

: 73.91
: 3.37
: 6.45
Government: 0.00
: 16.28

Documents

Announcements

Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-14 - Quality Power Electrical Equipments Limited has informed the Exchange about the transcript of the Q1 FY27 Earnings Conference Call held on 10th August 2026.
Copy of Newspaper Publication
2026-08-11 - Quality Power Electrical Equipments Limited has informed the Exchange about Copy of Newspaper Publication of the unaudited financial results for the quarter ended 30th June 2026

Annual Reports

Annual Report FY2025
2025

Credit Ratings

Nothing filed yet.

Concalls

Aug 2026
Transcript PPTREC
May 2026
Transcript PPTREC
Feb 2026
Transcript PPTREC