Manufactures transformers, switchgear panels, compact substations and EV-charging infrastructure for India's power distribution utilities, renewable energy developers and industrial customers. FY26 revenue from operations was ₹70.07 cr, with the shortfall versus prior year attributed by management to ₹34 cr of revenue deferred to FY27 because of renewable EPC site delays. The order book stood at ₹156 cr as of May 25, 2026, with bids worth ₹225 cr pending (MVVNL ₹125 cr, Torrent Power ₹100 cr). Recent wins include a ₹19.97 cr order for 3.6 MVA wind turbine transformers for a Gadag-1, Karnataka wind project, vendor approvals from MVVNL, DHBVNL, UGVCL and Aditya Birla Renewables, and an LOI for 450 highway EV-charging compact substations (~₹1,600 cr addressable) under the NHEV programme. The company CPRI-certified a 17.60 MVA inverter-duty transformer — described by management as the highest rating in the renewable segment — and has partnerships with Schneider Electric, Lucy Electric and Siemens (Germany). A 2.5 lakh sq ft greenfield plant is planned on 20,300 sq m of land acquired in Khairthal, Rajasthan (₹8.85 cr purchase plus ₹1.82 cr stamp duty/commission) to enter EHV transformers and add in-house powder coating. Materials at 75.5% of revenue are the dominant cost. The company listed on the BSE SME platform in March 2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Transformers, Switchgear panels, Package / compact substations (CSS), EV-charging infrastructure. Small-cap, order-driven electrical equipment manufacturer; recent BSE SME IPO (March 2026); FY26 results pressured by customer-side project deferrals
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 70 |
| EBITDA (ex other income) | — |
| margin % | — |
| Owners' profit | — |
| EPS, as reported (₹) | 2.90 |
| ROE % · ROCE % | — · 13.3 |
| Debt / equity (x) | — |
| Cash from operations | 9 |
| Capex | (1) |
| ₹ crore | Q4 FY26 |
|---|---|
| Revenue | 42 |
| Profit before tax | 4 |
| Net profit | — |
| EPS (₹) | 2.03 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ABB INDIA LIMITED | 1,54,136 | 51.6 | 16.50 | — | 23.0 | 10.2 | — | 15.2 |
| BHEL | 1,50,076 | 61.7 | 5.74 | 49.8 | 6.1 | 4.7 | 14.3 | 9.3 |
| CG POWER AND IND SOL LTD | 1,43,168 | 93.7 | 17.46 | 77.9 | 14.6 | 19.2 | 33.2 | 14.7 |
| SIEMENS LTD | 1,40,869 | 43.0 | 10.17 | 39.7 | 19.9 | 20.6 | 31.1 | 11.6 |
| HITACHI ENERGY INDIA LTD | 1,40,200 | 121.8 | 27.09 | — | 19.1 | 24.7 | — | 16.9 |
| GE VERNOVA T&D INDIA LTD | 1,16,454 | 89.2 | 43.29 | — | 45.8 | 57.9 | — | 27.4 |
| SIEMENS ENERGY INDIA LTD | 1,13,147 | 76.0 | 23.51 | — | 14.3 | 15.8 | — | 25.9 |
| SUZLON ENERGY LIMITED | 60,678 | 19.4 | 6.41 | 18.8 | 33.4 | 22.7 | 38.0 | 16.4 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 10 Sept 2026 · Accord Transformer to participate in Arihant Capital investor conference | board shareholder meetings | low | — | — |
| 10 Sept 2026 · FY25-26 Annual Report filed; AGM on Sep 26 with ESOP and IPO fund reallocation | results | high | — | — |
| 7 Sept 2026 · Newspaper ad in Business Standard Mumbai on Sep 7, 2026 | compliance | minimal | — | — |
| 7 Sept 2026 · Accord Transformer wins two orders worth Rs 1.92 crore | business updates | medium | — | — |
| 5 Sept 2026 · Order worth Rs 50.40 Lakhs received from Shalimar Corp Limited | business updates | low | — | — |
| 5 Sept 2026 · 12th Annual Report FY26 with AGM notice and IPO object variation | results | medium | — | — |
| 4 Sept 2026 · Order win of Rs 50.80 Lakh from Sunsure Energy for BESS project transformers | business updates | medium | — | — |
| 4 Sept 2026 · Newspaper publication of 12th AGM notice scheduled for September 26, 2026 | compliance | minimal | — | — |
| 3 Sept 2026 · Board approves AGM notice, ESOP plan, and reallocates Rs 700L IPO funds | management changes | high | — | — |
| 3 Sept 2026 · 12th AGM on Sep 26, 2026; IPO fund reallocation and ESOP 2026 on agenda | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 33.5 | 35.1 | 15 of 34 | 58% |
| ROCE | 12.2 | 16.6 | 23 of 36 | 37% |
| Market cap | 140 | 7198 | 33 of 35 | 6% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
