Indo Tech Transformers Limited
NSE: INDOTECHHeavy Electrical Equipment
Share price
₹3,121.70
-0.86% close of 9 Oct 2026
Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 8 Oct 2026, the close above is 9 Oct 2026.
Business score
How strong the business is, in one number. The parts behind it are in Pro.
63
out of 100 · worked out 8 Oct 2026
Your ratios
The numbers you want to see first. Tap Edit to change them.
Market cap
₹3,434 Cr
P/E ratio
34.3
P/B ratio
8.9
ROCE
40.4%
ROE
28.4%
Dividend yield
0.3%
Price & valuation chart
How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.
Answers
Simple answers to the questions investors ask most, from the company's own numbers.
How fast it has been growing
Sales grew 22.0% over the past year, and 8.1% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales improved from 7.3% to 15.3% over the last four years.
Whether it grew faster than its sector
It grew 8.1% a year against a sector median of 10.6% — 2.6 percentage points slower.
Room to re-rate, or risk of de-rating
At 34.6× earnings against a market that pays 23.9× across 2199 companies we can price. Its own industry sits at 92.3×, across 5 companies. It is against its own five-year median of 21.0×, the 71st percentile of its own range.
Whether growth justifies the valuation
Priced at 0.7 times its growth rate, on earnings growth of 53%.
| Profit growth | Price per ₹1 profit | Per 1% growth | |
|---|---|---|---|
| Indo Tech Transformers Limited — this one | 53%/yr | 34.6× | ₹0.65 |
| Bharat Heavy Electricals | 36%/yr | 61.5× | ₹1.7 |
| ABB India | — | 92.3× | — |
| Hitachi Energy India Limited | 122%/yr | 121.2× | — |
| CG Power and Industrial Solutions Limited | 10%/yr | 106.7× | ₹10.7 |
| Siemens India | 23%/yr | 86.0× | ₹3.7 |
Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
How it compares with its peers
Against companies the exchange files under the same label (Heavy Electrical Equipment), it ranks 7 of 36 on returns, 17 of 31 on growth, 16 of 36 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
What makes it hard to beat — and is that still true?
A wide advantage: it earns 40.4% on capital, ahead of 81% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
Whether its growth pays for itself
Yes — Over the last five years it made ₹162 crore of cash from the business, spent ₹70 crore on plant and equipment, and returned ₹3 crore to lenders and shareholders. And the profit is real: of every 100 rupees it reported over 12 years, about 66 arrived as cash.
Profit reality check
Is the profit real cash? Simple checks on the accounts. Facts only, not advice.
7 of 9 checks clear · 78%
Latest result · Q1 FY26
What the last results showed. Whether management kept its word is in Pro.
Announced 13 Sep 2026 · Standalone · Unaudited
Revenue
₹164 Cr
Revenue vs last year
+99.5%
Revenue vs last quarter
-20.4%
Net profit
₹19 Cr
Profit vs last year
+219.5%
Profit vs last quarter
-8.7%
Net margin
11.7%
EPS
₹18.05
Checklist before you investPRO
Points for and against, in one list.
Key numbers & peers
The main numbers grouped by topic, and how the company compares with similar ones.
Price
- Market cap
- ₹3,434 Cr
- Prev close
- ₹3,121.70
- 52w High
- ₹4,030
- 52w Low
- ₹1,100
- Enterprise value
- ₹3,325 Cr
- Beta
- 1.5
- Price CAGR 1y
- 84.0%
- Price CAGR 3y
- 93.0%
- Price CAGR 5y
- 81.0%
- Price CAGR 10y
- 30.0%
Ratios
- Return on assets
- 16.7%
- PEG ratio
- 0.6
- P/E ratio
- 34.3
- P/B ratio
- 8.9
- EV / EBITDA
- 26.0
- Industry P/E
- 48.8
- ROCE
- 40.4%
- ROCE 5y average
- 29.4%
- ROE
- 28.4%
- Debt / Equity
- 0.0
- Interest coverage
- 12.3
- Dividend yield
- 0.3%
- ROE 3y average
- 26.0%
- ROE last year
- 28.0%
Annual P&L
- Annual revenue
- ₹782 Cr
- Annual profit
- ₹93 Cr
- Operating margin
- 17.0%
- Net profit margin
- 11.9%
- EBITDA margin
- 16.5%
- Sales growth 3y
- 28.2%
- Sales growth 5y
- 30.6%
- Profit growth 3y
- 53.0%
- Profit growth 5y
- 71.0%
- EPS
- ₹87.4
- Sales growth TTM
- 22.0%
- Profit growth TTM
- 29.0%
- Dividend payout
- 11.0%
Quarter P&L
- Sales latest quarter
- ₹228 Cr
- Profit latest quarter
- ₹26 Cr
- YoY quarterly sales growth
- 39.0%
- YoY quarterly profit growth
- 36.8%
- OPM latest quarter
- 13.9%
Balance Sheet
- Book Value
- ₹340
- Face Value
- ₹10.0
- Total debt
- ₹5 Cr
- Total cash
- ₹114 Cr
- Borrowings
- ₹5 Cr
- Reserves / Equity
- 33.0
Cash Flow
- Operating cash flow
- ₹57 Cr
- Free cash flow
- ₹23 Cr
- FCF yield
- 0.3%
- Net cash flow
- -₹1 Cr
Shareholding
- Promoter holding
- 72.2%
- FII holding
- 0.3%
- DII holding
- 0.1%
- Public holding
- 27.5%
Peer comparison
| Company | Price ₹ | P/E | Mkt cap ₹ Cr | Div yield % | Profit qtr ₹ Cr | Profit var % | Sales qtr ₹ Cr | Sales var % | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| B H E L | 448.50 | 64.2 | 1,56,171 | 0.31 | 376.7 | 182.7 | 7,697.7 | 40.3 | 9.1 |
| A B B | 7,005.00 | 96.3 | 1,48,442 | 0.56 | 362.3 | 8.0 | 3,558.9 | 21.0 | 29.9 |
| CG Power & Ind | 894.50 | 110.7 | 1,40,926 | 0.15 | 308.3 | 16.3 | 3,280.8 | 14.0 | 26.7 |
| Hitachi Energy | 31,610.00 | 118.3 | 1,40,893 | 0.03 | 294.2 | 123.5 | 2,493.7 | 68.6 | 29.4 |
| Siemens | 3,793.00 | 89.8 | 1,35,077 | 0.47 | 2,143.1 | -18.6 | 4,713.7 | 14.8 | 21.4 |
| Siemens Ener.Ind | 3,344.00 | 78.0 | 1,19,087 | 0.12 | 440.9 | 67.8 | 2,485.6 | 39.3 | 67.8 |
| GE Vernova T&D | 4,316.30 | 81.8 | 1,10,519 | 0.23 | 363.0 | 24.6 | 1,836.1 | 38.0 | 77.4 |
| Indo Tech.Trans. | 3,323.30 | 35.5 | 3,529 | 0.30 | 25.7 | 34.1 | 227.9 | 39.0 | 40.4 |
| Median | 448.50 | 33.7 | 6,114 | 0.04 | 41.2 | 15.5 | 466.3 | 20.1 | 23.5 |
Competes with: ABB India, Bharat Heavy Electricals, CG Power and Industrial Solutions Limited, GE Vernova T&D India Limited, Hitachi Energy India Limited, Siemens Energy India Limited, Siemens India
Quarterly results
Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.
| Line item | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 93 | 96 | 139 | 175 | 82 | 146 | 177 | 206 | 164 | 183 | 196 | 239 | 228 |
| Expenses | 87 | 85 | 124 | 148 | 74 | 123 | 153 | 185 | 140 | 152 | 163 | 207 | 196 |
| Material Cost | 125 | 137 | 127 | 150 | 181 | 169 | |||||||
| Change in Inventories | 29 | -21 | -1.75 | -14 | -3.89 | -2.06 | |||||||
| Purchases of Stock-in-Trade | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
| Employee Cost | 11 | 8.53 | 9.31 | 10 | 10 | 10 | |||||||
| Other Expenses | 22 | 16 | 17 | 17 | 19 | 19 | |||||||
| Operating Profit | 6 | 11 | 15 | 27 | 8 | 23 | 24 | 21 | 24 | 31 | 33 | 32 | 32 |
| OPM % | 6.50 | 12 | 11 | 15 | 9.97 | 16 | 14 | 10 | 15 | 17 | 17 | 14 | 14 |
| Other Income | 1 | 2 | 1 | 3 | 2 | 3 | 6 | 5 | 3 | 4 | 2 | 1 | 5 |
| Exceptional items (within Other Income) | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
| 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 % | 30 | 36 | 24 | 6 | 29 | 28 | 33 | 14 | 23 | 26 | 26 | 25 | 25 |
| Net Profit | 4 | 7 | 11 | 26 | 6 | 18 | 19 | 21 | 19 | 25 | 25 | 24 | 26 |
| EPS in Rs | 3.33 | 6.66 | 10 | 24 | 5.56 | 17 | 18 | 20 | 18 | 23 | 23 | 23 | 24 |
| Diluted EPS in Rs | 20 | 18 | 23 | 23 | 23 | 24 |
Profit & loss
Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 157 | 190 | 149 | 220 | 213 | 205 | 206 | 280 | 371 | 503 | 612 | 782 | 846 |
| Expenses | 166 | 191 | 152 | 221 | 215 | 203 | 195 | 258 | 335 | 435 | 527 | 653 | 718 |
| Material Cost | 433 | 596 | |||||||||||
| Change in Inventories | 6.25 | -41 | |||||||||||
| Purchases of Stock-in-Trade | 0 | 0 | |||||||||||
| Employee Cost | 35 | 38 | |||||||||||
| Other Expenses | 61 | 69 | |||||||||||
| Operating Profit | -9 | -1 | -3 | -1 | -2 | 2 | 11 | 22 | 36 | 68 | 85 | 129 | 128 |
| OPM % | -6 | -0.50 | -2 | -0.60 | -1 | 0.90 | 5 | 8 | 10 | 14 | 14 | 17 | 15 |
| Other Income | 17 | 13 | 2 | 5 | 1 | 5 | 3 | 2 | 3 | 7 | 16 | 10 | 13 |
| Exceptional items (within Other Income) | 0 | 0 | |||||||||||
| Interest | 6 | 2 | 3 | 2 | 2 | 2 | 3 | 7 | 8 | 12 | 11 | 11 | 2 |
| Depreciation | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 4.91 | 4.47 | 4.81 | 5 |
| Profit before tax | -4 | 4 | -9 | -4 | -8 | 0 | 6 | 12 | 26 | 57 | 86 | 124 | 133 |
| Tax % | 0 | 0 | 24 | 0 | 0 | -1,820 | 1 | 2 | 0 | 18 | 26 | 25 | |
| Net Profit | -4 | 4 | -11 | -4 | -8 | 2 | 6 | 12 | 26 | 47 | 64 | 93 | 99 |
| EPS in Rs | -3.52 | 3.79 | -11 | -3.47 | -7.90 | 1.81 | 5.92 | 11 | 24 | 44 | 60 | 87 | 94 |
| Diluted EPS in Rs | 60 | 87 | |||||||||||
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11 |
Compounded growth
Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.
Compounded sales growth
- 10 years
- 15%
- 5 years
- 31%
- 3 years
- 28%
- TTM
- 22%
Compounded profit growth
- 10 years
- 32%
- 5 years
- 71%
- 3 years
- 53%
- TTM
- 29%
Stock price CAGR
- 10 years
- 30%
- 5 years
- 81%
- 3 years
- 93%
- 1 year
- 84%
Return on equity
- 10 years
- 13%
- 5 years
- 23%
- 3 years
- 26%
- Last year
- 28%
Balance sheet
What the company owns and what it owes, at the end of each year. ₹ crore.
| Line item | Mar 2015 | Mar 2016 | 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 | 11 | 11 |
| Reserves | 140 | 144 | 128 | 123 | 115 | 116 | 123 | 134 | 160 | 207 | 270 | 363 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 11 | 5 | 8 | 5 |
| Other Liabilities | 57 | 59 | 64 | 75 | 69 | 77 | 55 | 94 | 121 | 164 | 150 | 178 |
| Total Liabilities | 207 | 214 | 202 | 209 | 195 | 203 | 188 | 240 | 303 | 386 | 438 | 557 |
| Fixed Assets | 66 | 62 | 54 | 50 | 52 | 48 | 44 | 41 | 44 | 49 | 50 | 75 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 6 | 12 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 141 | 152 | 148 | 159 | 143 | 155 | 144 | 197 | 258 | 337 | 383 | 470 |
| Total Assets | 207 | 214 | 202 | 209 | 195 | 203 | 188 | 240 | 303 | 386 | 436 | 555 |
Cash flows
Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -13 | -3 | -12 | 4 | 17 | -14 | 8 | 22 | -4 | 32 | 55 | 57 |
| Cash from Investing Activity | -0 | 8 | -1 | -1 | -1 | -2 | -3 | -9 | -15 | -12 | -18 | -53 |
| Cash from Financing Activity | 19 | 0 | -1 | -0 | -0 | -0 | -0 | -0 | 9 | -8 | 1 | -5 |
| Net Cash Flow | 5 | 6 | -14 | 2 | 16 | -16 | 5 | 13 | -9 | 12 | 39 | -1 |
| Free Cash Flow | -14 | 8 | -14 | 3 | 17 | -16 | 7 | 18 | -12 | 24 | 39 | 23 |
Ratios
How fast customers pay, how long stock sits, and how well capital earns — year by year.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 121 | 124 | 146 | 132 | 106 | 131 | 123 | 106 | 127 | 101 | 73 | 56 |
| Inventory Days | 117 | 88 | 162 | 91 | 79 | 113 | 92 | 98 | 102 | 126 | 114 | 131 |
| Days Payable | 97 | 101 | 127 | 116 | 101 | 134 | 96 | 130 | 123 | 88 | 40 | 38 |
| Cash Conversion Cycle | 141 | 111 | 181 | 107 | 84 | 110 | 118 | 75 | 106 | 139 | 147 | 149 |
| Working Capital Days | 150 | 123 | 168 | 110 | 67 | 105 | 112 | 74 | 80 | 79 | 73 | 75 |
| ROCE % | 1 | -3 | -4 | -1 | -5 | 2 | 7 | 14 | 21 | 34 | 38 | 40 |
Price trend
The price as a Renko brick chart: small moves drop out so the bigger path stands out.
Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.
Open interestPRO
Where option traders are positioned on this stock.
Industry numbers
The numbers that matter most in this industry, from the company's own filings.
1 when an audit qualification is filed as repetitive
0.00flag
2026-03-31
the company's own unlisted debt securities in default at period end
0.00cr
2026-06-30
the company's own loans / revolving facilities in default at period end (standalone filing)
0.00cr
2026-06-30
net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash
-109inr_cr
2026-03-31
guarantees / comfort given for promoter, promoter group, directors and KMP
0.00cr
2026-03-31
loans outstanding to promoter, promoter group, directors and KMP (governance filing)
0.00cr
2026-03-31
security given for the borrowing of promoter, promoter group, directors and KMP
0.00cr
2026-03-31
News
News and filings about Indo Tech Transformers Limited. Open one to see why it matters.
23 Sept, 21:20 IST · Company event · low impact
Indo Tech Transformers Limited — expansion of product portfolio to 400 kV Transformer segment
3 Sept, 18:05 IST · Company event · medium impact
Indo Tech Transformers Limited has won a new order or contract
1 Sept, 18:05 IST · Company event · medium impact
Indo Tech Transformers Limited — Bagging orders - Corrigendum to submission dated August 31, 2026
31 Aug, 18:05 IST · Company event · medium impact
Indo Tech Transformers Limited has won a new order or contract
Supply chain
Who it buys from, sells to and competes with — as recorded in our map of company links.
Competes with
Uses as raw material
- CRGO steel
- copper
- steel
- transformer oil
Depends on the price of
- copper
- steel
Sells to
- ABB India · transformers
- Adani Energy Solutions Limited · transformers (transmission/utility)
- Avaada Power · transformers (private renewable IPP)
- Bharat Aluminium Company Limited (BALCO) · transformers (Vedanta subsidiary, unlisted)
- Damodar Valley Corporation · power transformers (utility)
- GE · transformers
- JINDAL STEEL LIMITED · power/distribution transformers
- JSW Steel · power/distribution transformers
- Jayaswal Neco Industries Limited · power/distribution transformers
- KEC International Limited · power transformers (EPC)
- Larsen & Toubro · transformers (EPC)
- NLC India Limited · power transformers (utility)
- NTPC Limited · power transformers (Rs 91.26 cr order Nov 2025, via Four EF Constructions for NTPC project…
- Reliance Industries · power/distribution transformers
- SAEL Limited · transformers (private renewable)
- Siemens India · transformers
- Suzlon Energy Limited · transformers for wind/renewables
- TANGEDCO / TN Electricity Board (TNEB) · distribution/power transformers (state utility)
- Tata Power Company · transformers for solar (subsidiary of Tata Power)
- Tata Projects Limited · transformers (private EPC)
About
What the company is, from our own records: where it sits, where it makes things, and what it is made of.
- Sector
- Capital Goods
- Industry
- Heavy Electrical Equipment
- Classification
- Capital Goods › Heavy Electrical Equipment
- ISIN
- INE332H01014
Plants
- Indo Tech Works 1 (Kancheepuram, Regd Office & Factory)
- Indo Tech Works 2 (SIDCO Industrial Estate, Thirumazhisai)
News impact
Big market events that reach Indo Tech Transformers Limited, and how the effect spreads.
No recent market events reach this company.
Dividends, splits & big trades
Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.
Dividends
| 16 Sep 2026 | unspecified | ₹10 |
|---|
Splits, bonuses & buybacks
- daily-prices repair: 8 rows from NSE's archive (replace 1, delete 0, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016
Bulk & block deals
| Date | Who | Bought / sold | Shares | Price |
|---|---|---|---|---|
| 30 Jun 2026 | SHIRDI SAI ELECTRICALS LIMITED | SELL | 68,048 | ₹3,231.23 |
Documents
Annual reports, results presentations and earnings calls, straight from the source.
- Annual report · 2025-2627 Aug 2026
- Results presentation30 Jun 2026
- Annual report · 2024-2518 Jul 2025
Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.