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TD Power Systems Limited (TDPOWERSYS)

₹735.15 +0.05% last close, 16 Oct

📊 NSE: TDPOWERSYS 🏢 Electric Equipment 📢 Latest filing: 12 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, TD Power's revenue was ₹640 Cr (+72.1% year on year, +8.7% on the previous quarter), and net profit ₹86.3 Cr (+72.6% year on year); the operating margin was 19.0%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹640	+72.1%	+8.7%
Operating profit	₹122	+76.3%	+24.1%
Net profit	₹86.3	+72.6%	+19.9%
EPS (₹)	5.52	+72.0%	+19.5%
Operating margin	19.0%	—	—

Full quarterly financials → Results calendar →

TDPOWERSYS delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 41.89% of the TDPOWERSYS shares traded on NSE were taken to delivery, against the stock's own 20-session average of 41.28%. That is close to its usual level.

41.89%Delivery, 16 Oct

41.28%Own 20-session average

0.7×Volume vs its average

₹735.15NSE close · +0.05%

Delivery in the last 5 sessions: 26.9% · 44.7% · 46.6% · 44.5% · 41.9%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

TD Power Systems Raises ₹600 Cr via QIP Allotment at ₹775 Per Share

🟢 POSITIVE ⭐ 9/10

FUNDRAISE 📅 12 Oct 2026, 10:09 PM

TD Power Systems Limited has approved the allotment of 77,41,935 equity shares to qualified institutional buyers at an issue price of ₹775 per share, raising approximately ₹600 crore. The issue price reflects a slight discount of 0.05% to the floor price of ₹775.35 per share. Total paid-up equity shares increased from 31,37,06,860 to 32,14,48,795, causing an equity dilution of approximately 2.41%. The raised capital is substantial, amounting to ~58% of the company's current net worth of ₹1,029 crore and ~4.7% of its market cap.

Allotted 77,41,935 equity shares of face value ₹1 each at ₹775 per share
Raised aggregate gross proceeds of ₹599,99,99,625 (₹600 crore)
Issue price offered at a 0.05% discount (₹0.35) to the floor price of ₹775.35
Top institutional allottees include Axis MF (13.33%), Canara Robeco MF (13.33%), and ICICI Prudential MF (13.33%)
Paid-up share capital expanded by 2.47% to ₹32,14,48,795

💡 Track company disclosures and upcoming quarterly earnings commentary to assess the specific deployment of proceeds towards capex, international expansion, or working capital.

TD Power Systems Raises ₹600 Cr via QIP Allotment at ₹775 Per Share

🟢 POSITIVE ⭐ 9/10

FUNDRAISE 📅 12 Oct 2026, 10:07 PM

Allotted 77,41,935 equity shares of face value ₹1 each at ₹775 per share
Raised aggregate gross proceeds of ₹599,99,99,625 (₹600 crore)
Issue price offered at a 0.05% discount (₹0.35) to the floor price of ₹775.35
Top institutional allottees include Axis MF (13.33%), Canara Robeco MF (13.33%), and ICICI Prudential MF (13.33%)
Paid-up share capital expanded by 2.47% to ₹32,14,48,795

💡 Track company disclosures and upcoming quarterly earnings commentary to assess the specific deployment of proceeds towards capex, international expansion, or working capital.

TD Power Systems Closes ₹600 Cr QIP at ₹775 Per Share

🟢 POSITIVE ⭐ 8/10

FUNDRAISE 📅 12 Oct 2026, 08:04 PM

TD Power Systems has approved the closure of its Qualified Institutions Placement (QIP) on October 12, 2026. The company allocated 77,41,935 equity shares of face value ₹1 each at an issue price of ₹775 per share, raising approximately ₹600 crore. The issue price reflects a minor 0.05% discount (₹0.35 per share) to the SEBI floor price of ₹775.35. The fundraise constitutes roughly 4.7% of the company's current market capitalisation of ₹12,882 crore and boosts its equity capital base.

Approved allocation of 77,41,935 equity shares to eligible QIBs
Issue price fixed at ₹775 per share (including ₹774 premium), raising ~₹600 crore
Price represents a marginal 0.05% discount to the floor price of ₹775.35 per share
QIP closed on October 12, 2026, following receipt of funds and placement document adoption

💡 Track the deployment of QIP proceeds toward manufacturing expansions (such as 50-150 MW generators and traction motors) and observe the upcoming shareholding pattern for dilution impact.

TD Power Systems Closes ₹600 Cr QIP at ₹775 Per Share

🟢 POSITIVE ⭐ 8/10

FUNDRAISE 📅 12 Oct 2026, 07:47 PM

Approved allocation of 77,41,935 equity shares to eligible QIBs
Issue price fixed at ₹775 per share (including ₹774 premium), raising ~₹600 crore
Price represents a marginal 0.05% discount to the floor price of ₹775.35 per share
QIP closed on October 12, 2026, following receipt of funds and placement document adoption

💡 Track the deployment of QIP proceeds toward manufacturing expansions (such as 50-150 MW generators and traction motors) and observe the upcoming shareholding pattern for dilution impact.

TD Power Systems Submits Reg 74(5) Depository Certificate for Q2 Ended September 30, 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 08 Oct 2026, 11:15 AM

TD Power Systems Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was issued by MUFG Intime India Private Limited (formerly Link Intime India Private Limited), the company's Registrar and Share Transfer Agent. The RTA confirmed that securities received for dematerialisation during the quarter were processed, confirmed or rejected, and duly cancelled within prescribed timelines. This is a standard quarterly administrative filing with no financial or operational impact.

Compliance submission under Regulation 74(5) for the quarter ended September 30, 2026
Certificate issued by RTA MUFG Intime India Pvt. Ltd. dated October 03, 2026
Filing submitted to BSE and NSE on October 08, 2026

💡 No action required; this is a routine regulatory compliance filing. Investors should monitor upcoming Q2 FY27 earnings announcements for operational updates.

TD Power Systems Opens QIP with Floor Price of ₹775.35 Per Share

🟡 NEUTRAL ⭐ 7/10

FUNDRAISE 📅 07 Oct 2026, 06:59 PM

TD Power Systems Limited announced the opening of its Qualified Institutions Placement (QIP) on October 07, 2026. The Fund Raising Committee set the floor price at ₹775.35 per equity share (face value ₹1 each), representing a modest discount of ~5.6% to the current market price of ₹821.10. The company may also offer a discount of up to 5% on the floor price as per SEBI ICDR regulations. The final issue price and total quantum of funds raised will be determined in consultation with lead managers.

QIP issue officially opened on October 07, 2026
Floor price fixed at ₹775.35 per equity share of face value ₹1
Permissible discount of not more than 5% on the floor price
Relevant date for pricing fixed as October 07, 2026

💡 Track subsequent filings for the final issue price, total dilution, and allocation list to institutional investors, as well as stated deployment plans for capex or expansion.

TD Power Receives Trading Approval for 12.50 Lakh Shares Issued to Promoters at Rs 600

🟢 POSITIVE ⭐ 4/10

FUNDRAISE 📅 07 Oct 2026, 11:41 AM

TD Power Systems Limited has secured trading approval from BSE and NSE for 12,50,000 equity shares of face value Re 1 each, allotted to promoters on a preferential basis. The shares were issued at Rs 600 per share (including a Rs 599 premium), raising Rs 75 crore. The newly listed shares are admitted for trading effective October 7, 2026, and carry a lock-in period ending on April 9, 2028. The preferential issue represents minor equity dilution (~0.8% of outstanding equity) while infusing growth capital and reinforcing promoter commitment.

Trading approval received for 12,50,000 equity shares of Re 1 face value
Issued to promoters on a preferential basis at Rs 600 per share (premium of Rs 599)
Total capital raised stands at Rs 75 crore
Shares are locked-in until April 09, 2028
Trading effective from Wednesday, October 07, 2026

💡 Track the deployment of the Rs 75 crore proceeds in upcoming quarterly filings, alongside changes in shareholding pattern reflecting the promoter stake increase.

TD Power Receives Listing Approval for 12.50 Lakh Shares Allotted to Promoters at Rs 600

🟡 NEUTRAL ⭐ 4/10

FUNDRAISE 📅 02 Oct 2026, 02:50 PM

TD Power Systems Limited has received listing approval from BSE and NSE for 12,50,000 equity shares allotted to promoters on a preferential basis. The shares, having a face value of Re 1 each, were issued at a price of Rs 600 per share, totaling Rs 75 crore. This capital infusion represents approximately 0.6% of the company's current market cap of Rs 12,360 crore. The shares will be admitted to trading upon depository credit confirmation.

Listing approval received for 12,50,000 equity shares allotted on a preferential basis
Shares issued to promoters at an issue price of Rs 600 per share (face value Re 1)
Total issue value stands at Rs 75 crore (approx. 0.6% of market cap)
Approvals granted by BSE and NSE via letters dated October 01, 2026

💡 Track the subsequent corporate actions for trading commencement and verify the updated promoter shareholding pattern in the upcoming quarterly filing.

TD Power Systems Wins ₹192 Cr US Export Order for 2-Pole Generators

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 01 Oct 2026, 11:40 AM

TD Power Systems' subsidiary, TDPS USA, has secured a ₹192 crore order from a leading global Multinational Corporation. The contract entails supplying TDPS in-house designed 2-Pole generators for gas turbine applications to be installed in the United States. Deliveries are scheduled between August 2027 and January 2028. The order represents approximately 9.0% of TDPOWERSYS's TTM revenue of ₹2,124 crore and marks an important breakthrough into the global 2-Pole generator market.

Secured order valued at approximately ₹192 crores via subsidiary TDPS USA
Delivery window scheduled between August 2027 and January 2028
Order equals ~9.0% of TTM revenue (₹2,124 crore)
Contract covers supply of in-house designed 2-Pole generators for gas turbines in the USA

💡 Track execution milestones as deliveries approach the August 2027-January 2028 timeline and monitor upcoming quarterly order inflows in export markets.

TD Power Systems Allots Shares Worth ₹75 Cr via Preferential Issue to Promoters

🟢 POSITIVE ⭐ 6/10

FUNDRAISE 📅 21 Sep 2026, 10:52 AM

TD Power Systems Limited has approved the preferential allotment of 12,50,000 equity shares of face value ₹1 each at an issue price of ₹600 per share, raising ₹75.00 crore. The allotment is made to two promoter-group individuals: Nikhil Kumar (6,25,000 shares) and Mohib Nomanbhai Khericha (6,25,000 shares). The fundraise represents approximately 0.64% of the company's current market capitalization of ₹11,688 crore and about 3.53% of TTM revenue. Following this, Nikhil Kumar's stake increases from 8.30% to 8.47%, while Mohib Khericha acquires a 0.20% stake.

Allotment of 12,50,000 equity shares of face value ₹1 at ₹600 per share (including ₹599 premium)
Total capital raised stands at ₹75,00,00,000 (Rupees Seventy-Five Crore)
Issue subscribed entirely by promoters Nikhil Kumar (6,25,000 shares) and Mohib Nomanbhai Khericha (6,25,000 shares)
Nikhil Kumar's post-allotment shareholding rises from 8.30% (2,59,30,640 shares) to 8.47% (2,65,55,640 shares)

💡 Track listing and trading approvals from BSE and NSE for the newly allotted shares, along with end-use disclosures in subsequent quarterly updates.

TD Power gets In-principle nod to issue 12.5 lakh shares to promoters at >=Rs 600/share

🟢 POSITIVE ⭐ 6/10

FUNDRAISE 📅 12 Sep 2026, 03:30 PM

TD Power Systems has received in-principle approval from BSE and NSE for the preferential issue of 12,50,000 equity shares of face value Rs 1 each to promoters. The shares will be issued at a floor price of not less than Rs 600 per share, implying a minimum fundraise of Rs 75 crore. This capital infusion represents approximately 0.6% of the company's current market cap of Rs 11,971 crore. The transaction increases promoter alignment, expanding the existing promoter holding of 26.9%.

Approval granted for 12,50,000 equity shares of face value Rs 1 each
Floor issue price fixed at not less than Rs 600 per equity share
Minimum issue size stands at Rs 75 crore (12.5 lakh shares at Rs 600)
In-principle approval letters received from BSE and NSE dated September 11, 2026

💡 Track the upcoming board allotment meeting, the exact final issue price, and the subsequent listing approval of the new shares.

TD Power Systems Shareholders Approve Rs 75 Cr Preferential Issue and QIP Fundraise

🟢 POSITIVE ⭐ 6/10

FUNDRAISE 📅 10 Sep 2026, 08:49 PM

TD Power Systems shareholders have approved two special resolutions at the EGM held on September 10, 2026. The first resolution authorizes an equity issuance on a preferential basis to certain promoters for up to Rs 75.00 crore, passed with 99.29% approval. The second authorizes raising capital via a Qualified Institutions Placement (QIP) of equity shares and/or other eligible securities, which passed with 99.29% approval. The Rs 75 crore promoter infusion represents approximately 7.3% of the company's net worth of Rs 1,029 crore and 0.6% of current market cap.

Preferential allotment to certain promoters approved for an aggregate consideration not exceeding Rs 75.00 crore
Capital raise through Qualified Institutions Placement (QIP) approved by shareholders
Resolution 1 (Preferential Issue) passed with 99.2929% votes in favour out of 21,39,21,106 total votes polled
Resolution 2 (QIP) passed with 99.2947% votes in favour out of 21,39,21,106 total votes polled
Total voting turnout was 68.4642% of the total 31,24,56,860 outstanding shares

💡 Track subsequent board/committee announcements regarding the issue price, exact dilution quantum, and specific deployment of proceeds between capex and working capital.

TD Power Systems Shareholders Approve ₹75 Cr Promoter Preferential Issue and QIP Fundraise

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 10 Sep 2026, 08:27 PM

TD Power Systems held an Extraordinary General Meeting (EGM) on September 10, 2026, where shareholders approved two key capital raising resolutions. First, the issuance of equity shares on a preferential basis to certain promoters for an aggregate consideration not exceeding ₹75.00 crore. Second, shareholders cleared raising capital in one or more tranches via a Qualified Institutions Placement (QIP). The preferential allotment of ₹75 crore represents approximately 7.3% of the company's net worth (₹1,029 crore) and signals promoter participation ahead of institutional dilution.

Shareholders approved equity issuance on a preferential basis to promoters up to ₹75.00 crore
Approval granted for raising capital via Qualified Institutions Placement (QIP) in one or more tranches
Both special business resolutions were passed with the requisite majority per the scrutinizer's report
52 members attended the meeting held via Video Conferencing on September 10, 2026

💡 Track subsequent exchange filings for the floor price, final issuance price, and exact quantum of dilution under the QIP, along with the specific deployment timeline for capex or expansion.

TD Power Q1 Consol PAT Jumps 72% to ₹86 Cr; FY27 Revenue Guided at ₹2,600 Cr

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 18 Aug 2026, 01:14 PM

TD Power Systems reported strong Q1 FY27 consolidated sales of INR 6.43 billion, up 71% YoY, and consolidated PAT of INR 860 million, up 72% YoY. Order inflow for the quarter surged 87% QoQ to INR 7.34 billion, driven by robust direct and deemed export orders accounting for 93% of inflows. The total manufacturing order book reached INR 22.08 billion (approx. 1.04x TTM revenue of ₹2,124 Cr). Management revised its FY27 revenue guidance to INR 2,600 Cr and announced debottlenecking capex of INR 50 Cr to achieve INR 3,200 Cr revenue capacity by FY28.

Consolidated revenue for Q1 grew 71% YoY to INR 6.43 billion, with consolidated PAT rising 72% YoY to INR 860 million.
Order inflow in Q1 reached INR 7.34 billion (up 87% QoQ), with exports and deemed exports contributing 93% (INR 6.84 billion).
Manufacturing order book stands at INR 22.08 billion, with generators and motors accounting for INR 19.29 billion.
Management raised FY27 revenue guidance to INR 2,600 Cr and guided full-year order inflows at around INR 2,800 Cr+.
Committed INR 50 Cr capex in FY27 for debottlenecking to support an estimated INR 32 billion capacity in FY28.

💡 Track execution against the full-year INR 2,600 Cr revenue target and monitor upcoming corporate announcements regarding tie-ups for large (>100 MW) generators expected in August.

TD Power Systems seeks shareholder nod for ₹75 Cr preferential share issue to promoters

🟢 POSITIVE ⭐ 6/10

FUNDRAISE 📅 17 Aug 2026, 06:53 PM

TD Power Systems has issued an Extraordinary General Meeting (EGM) notice for September 10, 2026, to approve a preferential equity issue of up to ₹75.00 crore to promoters Nikhil Kumar and Mohib Nomanbhai Khericha. The promoters will each be allotted 6,25,000 equity shares post-split (face value ₹1) at ₹600 per share (or 3,12,500 shares at ₹1,200 pre-split). The fundraise represents approximately 0.31% of the company's market cap of ₹24,133 crore. The relevant pricing date is set as August 11, 2026, following the 1:2 stock split record date on August 24, 2026.

Preferential equity issuance to promoters totaling up to ₹75.00 crore for cash.
Issue price fixed at ₹600 per share post-split (face value ₹1) or ₹1,200 pre-split (face value ₹2).
Promoters Nikhil Kumar and Mohib Nomanbhai Khericha to each subscribe to ₹37.50 crore (6,25,000 post-split shares each).
Extraordinary General Meeting scheduled for September 10, 2026, via video conferencing.

💡 Track shareholder voting results from the EGM on September 10, 2026, followed by receipt of stock exchange in-principle listing approvals and actual allotment within 15 days of approval.

View All TDPOWERSYS Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Standalone H1 FY25 revenue grew 33% to INR 764 Cr from INR 577 Cr. Consolidated H1 FY25 revenue grew 42% to INR 833 Cr from INR 589 Cr, driven by robust demand in the core AC generator manufacturing segment.

Geographic Revenue Split

Exports accounted for 65% of sales in 9M FY25, up from 40-50% four years ago. H1 FY25 order inflow was 76% from direct and deemed exports and 24% from the domestic market.

Profitability Margins

Operating Profit Margin was 16.67% in Fiscal 2025 (standalone). Net Profit Margin was 11.87% in Fiscal 2025. Operating margin improved to 17.8% in 9M FY25 compared to 17.5% in Fiscal 2024.

EBITDA Margin

Operating margin (EBITDA proxy) improved to 17.8% in 9M FY25 from 16.6% in FY23. Management expects improved EBITDA margins in FY26 through operational efficiency and higher top-line leverage.

Capital Expenditure

Planned annual capex of INR 40-60 Cr for spares and non-core equipment manufacturing. Total ongoing capex is estimated at INR 140 Cr to support capacity expansion.

Credit Rating & Borrowing

CRISIL A+/Stable (upgraded from CRISIL A/Positive). Standalone entity is debt-free with an interest coverage ratio of 34.14x as of March 31, 2023.

⚙️ Operational Drivers

Capacity Expansion

Current facilities include 3 units in Bengaluru (one dedicated to large generators) and 1 facility in Turkey. Planned capex of INR 40-60 Cr per annum is focused on setting up manufacturing capacity for spares and non-core equipment.

Manufacturing Efficiency

Operating margins are sustained at 16-18% through economies of scale arising from increasing scale and cost-optimization measures.

📈 Strategic Growth

Expected Growth Rate

12-14%

Growth Strategy

Growth will be achieved by launching large 50-150 MW generators (UK design center) by Jan 2026, ramping up the motor and traction segments, and expanding export presence to 110 countries. Management targets INR 1,500 Cr consolidated revenue in FY26.

Products & Services

AC generators (up to 200 MW), Motors, Traction Motors, Turbine-generator islands (up to 52 MW), and Spares.

Brand Portfolio

TDPS

New Products/Services

50-150 MW large generators (testing Jan '26) and Traction motors for export markets.

Market Expansion

Supplying to 110 countries with a focus on Europe and North America through dedicated sales offices; ramping up the motor segment to diversify revenue streams.

Market Share & Ranking

Leading manufacturer of AC generators in the 1-50 MW segment in India.

Strategic Alliances

Long-term relationships with multinational OEMs including Siemens Ltd, Voith Hydro, General Electric, and Triveni Turbine Ltd.

🌍 External Factors

Industry Trends

Industry is seeing 'turbocharged' demand in gas turbine segments and growth in renewables and data centers, particularly in export markets.

Competitive Landscape

Competes with large global corporations; maintains edge through shorter delivery times and competitive pricing.

Competitive Moat

Market leadership in the 1-50 MW segment with over 6,900 generators supplied since inception. Sustainable through a global service network and high-efficiency product validations.

Macro Economic Sensitivity

Demand for capital goods is inherently correlated with global and domestic economic growth; slowdowns in end-user capex directly impact order inflows.

Consumer Behavior

Shift toward renewable energy and data centers is driving increased demand for specialized AC generators in the export market.

Geopolitical Risks

Multi-country export operations (110 countries) entail exposure to legal obligations, regulatory complexities, and trade barriers.

⚖️ Regulatory & Governance

Industry Regulations

Subject to pollution norms, manufacturing standards, and transnational legal/regulatory complexities for multi-country export operations.

Environmental Compliance

Management systems for environment, health, and safety are in place; specific ESG costs are not disclosed.

Taxation Policy Impact

Effective tax rate of approximately 25% based on Fiscal 2025 current tax of INR 52.50 Cr on PBT of INR 209.16 Cr.

Legal Contingencies

Provision of INR 3.05 Cr for interest to MSMED vendors in Fiscal 2025; INR 3 Cr provision for diminution in value of investment in DF Power Systems subsidiary.

⚠️ Risk Analysis

Key Uncertainties

Cyclical demand in end-user industries (cement, sugar, oil & gas) and high customer concentration (70-75% from top 10) are the primary business risks.