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Swing Capital

Indo Tech Transformers Ltd

NSE: INDOTECH BSE: 532717Energy

Indo Tech Transformers Ltd. is engaged in the business of manufacturing power and distribution transformers and various special application transformers, mobile substation transformers and substations. [1]

₹2,475
52W: ₹1100 — ₹2978
PE 29.2 · Book ₹306 · +709% vs book
Market Cap₹2,628 Cr
Stock P/E29.2Price to Earnings
ROCE37.8%Return on Capital
ROE25.7%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company is almost debt free.
  • +Company is expected to give good quarter
  • +Company has delivered good profit growth of 102% CAGR over last 5 years
  • +Debtor days have improved from 100 to 73.1 days.

Weaknesses

  • −Stock is trading at 8.19 times its book value
  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Promoters have pledged 77.2% of their holding.

Shareholding Pattern

Promoters75%
FIIs0.27%
DIIs0%
Public24.72%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters75%75%75%75%75%75%75%75%
FIIs0.42%0.39%▼0.00.48%▲0.10.24%▼0.20.16%▼0.10.17%▲0.00.19%▲0.00.27%▲0.1
DIIs0.01%0%▼0.00.66%▲0.70.66%0.41%▼0.30.6%▲0.20.66%▲0.10%▼0.7
Public24.58%24.6%▲0.023.85%▼0.824.08%▲0.224.44%▲0.424.23%▼0.224.15%▼0.124.72%▲0.6

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales9613917582146177206164183196
Expenses8512414874123153185140152163
Operating Profit1115278232421243133
OPM %12%11%15%10%16%14%10%15%17%17%
Net Profit711266181921192525
EPS ₹6.6610.0624.085.5616.6918.1519.7618.0523.3323.45

AI Insights

Revenue Trend

TTM revenue at ₹749Cr, up 22.4% YoY. OPM at 14%.

Debt Position

Borrowings at ₹12Cr. Debt-to-equity ratio: 0.04x. Healthy balance sheet.

Capex Cycle

CWIP at ₹11Cr (22% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 0% (+0.00pp change). FIIs: 0.27% (+0.25pp change). Promoters hold 75%.

Margin & Efficiency

ROCE improving from 0% (Mar 2014) to 38% (Mar 2025). Working capital days: 73.

Valuation

PE 29.2x with 37.8% ROCE. Price is 709% above book value of ₹306. Dividend yield: 0%.

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