INDOTECH

Indo Tech Transformers share price & financials

Tamil Nadu-based manufacturer of power, distribution and large power transformers for utilities and industry.

Price: ₹2,679.7
Market cap: ₹3.7k Cr
Sector: Capital Goods

What Indo Tech Transformers Limited does

Indo-Tech Transformers designs and manufactures power transformers, large power transformers, distribution transformers, skid-mounted substations, and inverter/convertor transformers for specialised applications, out of a single manufacturing facility in Kancheepuram, Tamil Nadu. Its products serve utilities, power distribution companies and industrial customers across power transmission and generation, renewable energy (hydro, wind, solar), and core industrial sectors such as steel, cement and textiles. It earns as a build-to-order transformer manufacturer, competing on engineering precision, in-house testing and turnkey execution for utility, industrial and EPC/renewable-energy customers. The company operates under the umbrella of its promoter/holding company, Shirdi Sai Electricals Limited, a transformer manufacturing and EPC group, drawing synergies such as joint procurement and shared lead generation.

Manufacturing facility: Single plant at Kancheepuram, Tamil Nadu
Installed transformer capacity: Being expanded in phases from 9,500 MVA to 16,000 MVA
In-house testing laboratory: NABL (ISO 17025) accredited, equipped for routine and special tests to national and international standards
Transformer product lines: 5 (Power, Large Power, Distribution Transformers, Skid-Mounted Substations, Inverter/Convertor Transformers)
Industries served: Power transmission & generation, renewables (hydro, wind, solar), steel, cement, textiles
Promoter/holding company: Shirdi Sai Electricals Limited — group with nearly three decades of transformer manufacturing and EPC experience

Headquarters Kancheepuram, Tamil Nadu Company website

Quarterly results

Q1 FY27: revenue up 39.0%, net profit up 36.8% against the same quarter last year.

₹ Cr · quarterly

Line item	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26	Q4 FY26	Q1 FY27
Revenue	146	177	206	164	183 +25%	196 +11%	239 +16%	228 +39%
Expenses	123	153	185	140	152	163	207	196
EBITDA	23	24	21	24	31 +35%	33 +38%	32 +52%	32 +33%
Margin	16%	14%	10%	15%	17%	17%	14%	14%
Other income	3	6	5	3	4	2	1	5
Interest	0	1	1	1	1	1	1	0
Depreciation	1	1	1	1	1	1	1	2
Profit before tax	24	29	24	25	33 +38%	34 +17%	32 +33%	34 +36%
Tax rate	28%	33%	14%	23%	26%	26%	25%	25%
Net profit	18	19	21	19	25 +39%	25 +32%	24 +14%	26 +37%
EPS	16.69	18.15	19.76	18.05	23.33	23.45	22.52	24.20

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 +98.7% 1Y

1Y: ₹1,772.6 on 10 Sept 2025 → ₹3,522.9. High ₹3,902.5 (21 Aug 2026), low ₹1,104.9 (30 Mar 2026).

Financials, as filed

Revenue grew 28.1% a year over 3 years, FY23 to FY26. Operating margin widened to 15.3%.

Year ending	FY23	FY24	FY25	FY26
Revenue	₹372 Cr	₹503 Cr	₹611 Cr	₹782 Cr
Operating profit	₹31 Cr	₹59 Cr	₹76 Cr	₹120 Cr
Operating margin	8.3%	11.7%	12.4%	15.3%
Interest	₹3 Cr	₹4 Cr	₹2 Cr	₹4 Cr
Depreciation	₹5 Cr	₹4 Cr	₹4 Cr	₹4 Cr
Net profit	₹25 Cr	₹48 Cr	₹64 Cr	₹93 Cr
Net margin	6.7%	9.5%	10.5%	11.9%
Cash from operations	₹-4 Cr	₹32 Cr	₹55 Cr	₹57 Cr
Free cash flow	₹-12 Cr	₹24 Cr	₹40 Cr	₹23 Cr
ROCE	21.0%	34.0%	38.0%	40.0%

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	₹11 Cr	₹11 Cr	₹11 Cr	₹11 Cr	₹11 Cr	₹11 Cr
Reserves	₹123 Cr	₹134 Cr	₹160 Cr	₹207 Cr	₹314 Cr	₹363 Cr
Borrowings	₹0 Cr	₹1 Cr	₹11 Cr	₹5 Cr	₹12 Cr	₹5 Cr
Other liabilities	₹55 Cr	₹94 Cr	₹121 Cr	₹164 Cr	₹174 Cr	₹178 Cr
Total liabilities	₹188 Cr	₹240 Cr	₹303 Cr	₹386 Cr	₹510 Cr	₹557 Cr
Fixed assets	₹44 Cr	₹41 Cr	₹44 Cr	₹49 Cr	₹51 Cr	₹75 Cr
Capital work in progress	₹0 Cr	₹1 Cr	₹1 Cr	₹0 Cr	₹11 Cr	₹12 Cr
Investments	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr
Other assets	₹144 Cr	₹197 Cr	₹258 Cr	₹337 Cr	₹448 Cr	₹470 Cr
Total assets	₹188 Cr	₹240 Cr	₹303 Cr	₹386 Cr	₹510 Cr	₹557 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, the public added +3.06 pp while promoters trimmed −2.82 pp. The shareholder count shrank 10% to 24,680.

Promoters: 72.2%
FIIs: 0.3%
DIIs: 0.1%
Public: 27.5%

Since Jun 2025

Public +3.06 pp
Promoters −2.82 pp
DIIs −0.36 pp

How it drifted, 12 quarters

Over this window promoters fell from 75.0% to 72.2% — −2.8 pp.

Sep '23Dec '24Jun '26

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Indo Tech Transformers Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

Holder	Stake	Change
Shirdi Sai Electricals Limited	72.18%	−2.82 pp

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

Attractive

To justify its price of ₹3523, this stock must grow earnings at 26% every year for 7 years. Our analysis caps realistic growth at ~53%. At that growth it is worth ₹12589 — upside of 257%.

Growth the price implies: 26.0% a year; for 7 years, fading to 4%
It has actually compounded at: 54.9% a year; net profit, FY23–FY26 · EPS 53.4%
The gap: -0.3 pp; 257% downside if it only repeats history

Price today ₹3,522.9 Value at the reference growth ₹12,589.01

Change the assumptions yourself →

Learn to analyse Indo Tech Transformers Limited

Guides on how to read this kind of business and the numbers that matter.