TD Power Systems raised its full-year top-line target to as high as ₹3,000 crore after net profit more than doubled in the September quarter.
Cash collections accelerated. Revenue from operations leaped 86% year-on-year to ₹841 crore in the three months ended September 30, up from ₹453 crore in the corresponding quarter last year. The operating performance outran internal forecasts across every key metric, setting up the stock for immediate trading reactions as Friday dealings open.
Management revised its full-year revenue guidance upward to a band between ₹2,900 crore and ₹3,000 crore. That represents a sharp step up from the ₹2,600 crore projected at the close of the June quarter. At the end of the March quarter, the company had set its financial year 2027 revenue guidance at ₹2,400 crore.
The revision marks the sixth straight quarter in which TD Power has hiked its full-year forecast. Operational visibility stretches well beyond the current fiscal run-rate—with management signaling that order momentum and business outlook for financial years 2027 and 2028 remain strong.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) more than doubled to ₹172.98 crore from ₹82.88 crore a year earlier. Operating leverage kicked in with force. EBITDA margin widened to 20.6% from 18.3% in the year-ago period, comfortably beating internal management targets of 18% to 19%. For the entire first half of the financial year, EBITDA margin stood at 19.94%.
Net profit surged 106% to ₹124 crore, compared to ₹60.2 crore posted in the same period last fiscal.
| Financial Metric | Q2 FY26 (Current) | Q2 FY25 (Year-Ago) | Growth / Change | Target / Guidance |
|---|---|---|---|---|
| Revenue from Operations | ₹841.00 Cr | ₹453.00 Cr | +86.0% | ₹2,900–₹3,000 Cr (Full Year) |
| EBITDA | ₹172.98 Cr | ₹82.88 Cr | +108.7% | — |
| EBITDA Margin | 20.60% | 18.30% | +230 bps | 18.00% – 19.00% |
Market Context: Industrial equipment and generator manufacturers have enjoyed sustained domestic capital expenditure and industrial power upgrades. By outperforming its own 18% to 19% margin hurdle band, TD Power demonstrated pricing power amid heavy operational execution across the first half.
Brokerage consensus remains overwhelmingly tilted toward accumulation. Of the five analysts actively tracking TD Power Systems, four maintain a "Buy" rating on the counter, with just one analyst carrying a "Sell" call.
Shares of TD Power settled 3.1% higher at ₹629 on Thursday ahead of the numbers. Momentum has been relentless throughout the calendar year—the counter has climbed 87% so far in 2024, placing execution scrutiny squarely on management's delivery toward the updated ₹3,000 crore threshold.
| Net Profit | ₹124.00 Cr | ₹60.20 Cr | +106.0% | — |
| H1 EBITDA Margin | 19.94% | — | — | — |