539255
Star Delta Trans financials
- Market cap
- ₹134 Cr
- Sector
- Capital Goods
What Star Delta Trans does
Star Delta Transformers designs, manufactures, supplies, erects, tests and commissions Power and Distribution Transformers, along with special-purpose transformers for auto, converter, earthing, furnace, generator, instrument, rectifier and traction applications. It operates from a single, fully integrated manufacturing facility in Govindpura, Bhopal (Madhya Pradesh), equipped to build and test transformers up to 40 MVA, 132 kV class. Its revenue comes both from sale of manufactured transformer products and from services rendered on project work (erection, testing and commissioning).
Segments
- Products
- Project work / services
- Manufacturing facilities
- 1 (Govindpura, Bhopal, Madhya Pradesh)
- Installed capacity
- 1,000 MVA per shift per annum
- Max transformer rating manufactured/tested
- 40 MVA, 132 kV class
- Special/custom transformer types offered
- 8 (Auto, Converter, Earthing, Furnace, Generator, Instrument, Rectifier, Traction)
- Product standards & testing
- Manufactured to IEC-76, BS-171 & IS-2026; transformers up to 16 MVA type-tested at CPRI
Quarterly results
Q1 FY27: revenue up 24.0%, net profit down 38.3% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 37 | 33 | 38 | 30 | 44 +18% | 53 +61% | 46 +23% | 37 +24% |
| EBITDA | 3 | 3 | 4 | 3 | 4 +27% | 4 +5% | 6 +40% | 2 −31% |
| Net profit | 3 | 2 | 3 | 2 | 4 +38% | 2 −4% | 4 +44% | 1 −38% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −28.6% 1Y
1Y: ₹618.7 on 10 Sept 2025 → ₹441.5. High ₹686.15 (23 Apr 2026), low ₹408.85 (30 Mar 2026).
Financials, as filed
Revenue grew 34.4% a year over 3 years, FY23 to FY26. Operating margin widened to 9.8%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹71 Cr | ₹140 Cr | ₹142 Cr | ₹173 Cr |
| Operating profit | ₹5 Cr | ₹13 Cr | ₹15 Cr | ₹17 Cr |
| Operating margin | 7.7% | 9.4% | 10.3% | 9.8% |
| Interest | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹2 Cr |
| Depreciation | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹1 Cr |
| Net profit | ₹6 Cr | ₹11 Cr | ₹11 Cr | ₹13 Cr |
| Net margin | 8.1% | 7.9% | 7.5% | 7.4% |
| Cash from operations | ₹-16 Cr | ₹-7 Cr | ₹3 Cr | ₹-11 Cr |
| Free cash flow | ₹-17 Cr | ₹-8 Cr | ₹1 Cr | ₹-14 Cr |
| ROCE | 14.0% | 23.0% | 19.0% | 18.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹3 Cr | ₹3 Cr | ₹3 Cr | ₹3 Cr | ₹3 Cr | ₹3 Cr |
| Reserves | ₹50 Cr | ₹54 Cr | ₹60 Cr | ₹71 Cr | ₹88 Cr | ₹93 Cr |
| Borrowings | ₹1 Cr | ₹1 Cr | ₹3 Cr | ₹2 Cr | ₹6 Cr | ₹11 Cr |
| Other liabilities | ₹3 Cr | ₹2 Cr | ₹21 Cr | ₹10 Cr | ₹24 Cr | ₹11 Cr |
| Total liabilities | ₹58 Cr | ₹60 Cr | ₹86 Cr | ₹86 Cr | ₹120 Cr | ₹118 Cr |
| Fixed assets | ₹6 Cr | ₹6 Cr | ₹5 Cr | ₹5 Cr | ₹6 Cr | ₹8 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹1 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹51 Cr | ₹54 Cr | ₹81 Cr | ₹81 Cr | ₹114 Cr | ₹109 Cr |
| Total assets | ₹58 Cr | ₹60 Cr | ₹86 Cr | ₹86 Cr | ₹120 Cr | ₹118 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters trimmed −3.30 pp while the public added +3.30 pp. The shareholder count shrank 8% to 6,432.
- Promoters
- 71.7%
- Public
- 28.3%
Since Jun 2025
- Promoters −3.30 pp
- Public +3.30 pp
How it drifted, 12 quarters
Over this window promoters fell from 75.0% to 71.7% — −3.3 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 75.0%, Public 25.0%.Dec '23: Promoters 74.9%, Public 25.1%.Mar '24: Promoters 75.0%, Public 25.0%.Jun '24: Promoters 75.0%, Public 25.0%.Sep '24: Promoters 75.0%, Public 25.0%.Dec '24: Promoters 75.0%, Public 25.0%.Mar '25: Promoters 75.0%, Public 25.0%.Jun '25: Promoters 75.0%, Public 25.0%.Sep '25: Promoters 75.0%, Public 25.0%.Dec '25: Promoters 71.7%, Public 28.4%.Mar '26: Promoters 71.7%, Public 28.3%.Jun '26: Promoters 71.7%, Public 28.3%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Star Delta Trans above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Kishore Gupta | 17.87% | unchanged |
| Rakesh Gupta | 17.46% | unchanged |
| Mayank Gupta | 13.94% | unchanged |
| Manju Gupta | 9.38% | unchanged |
| Archana Gupta | 8.28% | unchanged |
| Snehlata Kothari | 2.58% | unchanged |
| Sangeetha S . | 2.52% | unchanged |
| Ark Transformers Pvt Ltd. | 2.00% | unchanged |
| Bhopal Wires Pvt Ltd | 1.70% | unchanged |
| Archit Gupta | 0.67% | unchanged |
| Tusharika Gupta | 0.33% | unchanged |
| Neeta Gupta | 0.05% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
What the price assumes
AttractiveTo justify its price of ₹442, this stock must grow earnings at 3% every year for 7 years. Our analysis caps realistic growth at ~30%. At that growth it is worth ₹1863 — upside of 322%.
- Growth the price implies
- 2.6% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 30.2% a year
- net profit, FY23–FY26 · EPS 30.2%
- The gap
- -0.3 pp
- 322% downside if it only repeats history
Learn to analyse Star Delta Trans
Guides on how to read this kind of business and the numbers that matter.