Star Delta Transformers share price & results
- Jun 2026
- Jun 2026
Bhopal-based manufacturer of power and distribution transformers, including special/custom types such as auto, converter, earthing, furnace, generator, instrument, rectifier and traction transformers.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 37.5 | +24.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 5.5 | −4.4 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 1.4 | −38.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 13.17 | −0.6 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | -6.32 | −7.5 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 31.17 | +20.4 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance −22.9% 1Y
1Y: ₹593.75 on 24 Oct 2025 → ₹457.6. High ₹686.15 (23 Apr 2026), low ₹408.85 (30 Mar 2026).
- Previous close
- ₹428.9
- Market cap
- ₹172 Cr
- 52-week range
- ₹408.85 – ₹686.15
- One year
- −21.85%
- Price to earnings (TTM to Jun 2026)
- 14.51×
- Return on equity (TTM to Jun 2026)
- 13.17%
Overview
- Symbol
- NSE:STARDELTA
- Sector
- Capital Goods
- Industry
- Industrials
- Exchange
- NSE
- Currency
- INR
What STAR DELTA TRANSFORMERS LIMITED does
Based on the company's own presentations, annual report and earnings calls.
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
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: −38% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 37 | 33 | 38 | 30 | 44 | 53 | 46 | 37 |
| Expenses | 33 | 29 | 33 | 27 | 39 | 49 | 40 | 35 |
| Operating profit | 3 | 3 | 4 | 3 | 4 | 4 | 6 | 2 |
| Operating margin | 9.3% | 10.5% | 11.6% | 9.9% | 9.9% | 6.9% | 13.1% | 5.5% |
| Other income | 1 | 0 | 0 | 1 | 1 | 1 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 4 | 3 | 4 | 3 | 4 | 4 | 6 | 2 |
| Tax rate | 22.2% | 31.6% | 24.6% | 25.0% | 7.9% | 41.0% | 26.0% | 25.0% |
| Net profit | 3 | 2 | 3 | 2 | 4 | 2 | 4 | 1 |
| EPS (₹ per share) | 9.57 | 7.13 | 10.20 | 7.57 | 13.23 | 6.87 | 14.73 | 4.67 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 71 | 140 | 142 | 173 |
| Expenses | 66 | 127 | 127 | 156 |
| Operating profit | 5 | 13 | 15 | 17 |
| Other income | 4 | 4 | 1 | 2 |
| Interest | 1 | 1 | 1 | 2 |
| Depreciation | 1 | 1 | 1 | 1 |
| Profit before tax | 8 | 15 | 14 | 17 |
| Net profit | 6 | 11 | 11 | 13 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 3 | 3 | 3 | 3 | 3 | 3 |
| Reserves | 54 | 60 | 71 | 81 | 88 | 93 |
| Borrowings | 1 | 3 | 2 | 2 | 6 | 11 |
| Other liabilities | 2 | 21 | 10 | 7 | 24 | 11 |
| Total liabilities | 60 | 86 | 86 | 94 | 120 | 118 |
| Fixed assets | 6 | 5 | 5 | 6 | 6 | 8 |
| Capital work in progress | 0 | 0 | 0 | 1 | 1 | 1 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 54 | 81 | 81 | 88 | 114 | 109 |
| Total assets | 60 | 86 | 86 | 94 | 120 | 118 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | -3 | 3 | -16 | -7 | 3 | -11 |
| Cash from investing | 4 | 3 | 6 | 11 | 1 | -2 |
| Cash from financing | 0 | 0 | 1 | -2 | -1 | 7 |
| Net cash flow | 1 | 5 | -10 | 2 | 4 | -6 |
| Free cash flow | -3 | 3 | -17 | -8 | 1 | -14 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 193 | 116 | 172 | 88 | 113 | 125 |
| Inventory days | 217 | 102 | 124 | 88 | 79 | 84 |
| Days payable | 28 | 5 | 114 | 26 | 13 | 16 |
| Cash conversion cycle | 382 | 213 | 182 | 151 | 178 | 193 |
| Working capital days | 796 | 460 | 271 | 158 | 172 | 171 |
| Return on capital employed | 5.0% | 10.0% | 14.0% | 23.0% | 19.0% | 18.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
What the price assumes
AttractiveTo justify its price of ₹458, 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 307%.
- Growth the price implies
- 3.2% 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
- 307% downside if it only repeats history
Ownership
Who owns it
Promoters hold 71.69% as of Jun 2026.
- Promoters 71.69%
- Government 0.00%
- Public 28.31%
Who is on the register
Named in the Jun 2026 filing
Every holder of STAR DELTA TRANSFORMERS LIMITED above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| 17.87% | unchanged | |
| 17.46% | unchanged | |
| 13.94% | unchanged | |
| 9.38% | unchanged | |
| 8.28% | unchanged | |
| 2.58% | unchanged | |
| 2.52% | unchanged | |
| 2.00% | unchanged | |
| 1.70% | unchanged | |
| 0.67% | unchanged | |
| 0.33% | unchanged | |
| 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.
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