TD POWER SYSTEMS Results Analysis-Q4FY26

$TDPOWERSYS Operating Revenue for Q4FY26 is Rs. 589 Crs. 69.21% growth YoY, Total Income is Rs. 597 Crs., 66.39% growth YoY, Gross Profit is Rs. 181 Crs., 44.76% growth YoY, EBITDA is Rs. 98 Crs., 49.43% growth YoY, EBITDA Margin is 16.61% declined by 220 Basis points YoY (due to one off event), PBT Rs. 99 Crs. 40.32% growth YoY, PAT Rs. 72 Crs. 36.16% growth YoY. On QoQ basis Op. Revenue is up by 33.1%, Total Income is up by 33.67%, Gross Profit is up by 16.52%, EBITDA is up by 21.67%, PBT is up by 26.21% and PAT is also up by 28.18%. Subsidiary impairment: company provided INR 30m for investment in DFPS; “provided for 100% of the investment value” in DFPS. Cash remains strong: “strong cash position of INR 1.99bn.” Order book (Manufacturing): INR 19.73bn, split as: • Generators: INR 16.77bn • Railway: INR 2.47bn • Spares/aftermarket: INR 0.2bn • Turkey: INR 0.29bn Export intensity remains structurally high: “Export and deemed exports… continues to be around 76%” of the order book (ex-railway). Management is “putting a lot of focus on the large generator business” and preparing a capacity expansion program.