NSE: POWERICA · BSE: 544744
POWERICA LIMITED
Manufactures and sells generator sets, which contributed Rs 2,501.69 crore or 83.0% of segment revenue in FY26, with EBIT of Rs 224.4 crore. The remaining 17.0% (Rs 511.99 crore) came from wind power generation, with EBIT of Rs 40.45 crore. Operates 330.85 MW of wind capacity across 12 projects under long-term power purchase agreements with utilities such as GUVNL and SECI, and secured additional wind orders in 2026 including a 100 MW GUVNL project at Rs 3.435/kWh for 25 years, a 50 MW GUVNL bid at Rs 3.51/unit, and a 100 MW SECI bid at Rs 3.85/unit. Has set up wholly owned subsidiaries Whisperwind Renewable Private Limited and Windfusion Renewable Private Limited, and acquired a 49% stake in Fuji-Kailash Energy, to execute wind, solar, and hybrid projects. The biggest cost is materials at 62.4% of revenue, followed by other operating expenses at 17.8%, with capex running at 19.1% of revenue. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Generator Set (83%), Wind Power (17%). Capital goods manufacturer with a growing wind power generation arm
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 3,012 |
| EBITDA (ex other income) | 376 |
| margin % | 12.5 |
| Owners' profit | 267 |
| EPS, as reported (₹) | 24.40 |
| ROE % · ROCE % | 13.8 · 11.2 |
| Debt / equity (x) | 0.28 |
| Cash from operations | 453 |
| Capex | (575) |
Exhibit 2: Quarterly performance, last 3 quarters
| ₹ crore | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|
| Revenue | 763 | 801 | 780 |
| Profit before tax | 56 | 45 | 84 |
| Net profit | 98 | 45 | 64 |
| EPS (₹) | 8.83 | 3.82 | 4.99 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Generator Set | 1,336 | 85.4 |
| Wind Power | 229 | 14.6 |
| Total, before eliminations | 1,565 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BHEL | 1,39,247 | 57.2 | 5.33 | 46.4 | 6.1 | 4.7 | 14.3 | 9.3 |
| ABB INDIA LIMITED | 1,38,795 | 46.5 | 14.86 | — | 23.0 | 10.2 | — | 15.2 |
| CG POWER AND IND SOL LTD | 1,31,576 | 86.1 | 16.05 | 71.6 | 14.6 | 19.2 | 33.2 | 14.7 |
| HITACHI ENERGY INDIA LTD | 1,26,642 | 110.0 | 24.47 | — | 19.1 | 24.7 | — | 16.9 |
| SIEMENS LTD | 1,18,886 | 36.3 | 8.58 | 33.5 | 19.9 | 20.6 | 31.1 | 11.6 |
| GE VERNOVA T&D INDIA LTD | 1,01,908 | 78.1 | 37.88 | — | 45.8 | 57.9 | — | 27.4 |
| SIEMENS ENERGY INDIA LTD | 1,01,243 | 68.0 | 21.04 | — | 14.3 | 15.8 | — | 25.9 |
| SUZLON ENERGY LIMITED | 50,776 | 16.2 | 5.37 | 15.7 | 33.4 | 22.7 | 38.0 | 16.4 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 29.3 | 36.3 | 14 of 34 | 61% |
| P/B | 3.3 | 5.4 | 11 of 33 | 69% |
| ROCE | 10.2 | 16.6 | 25 of 36 | 31% |
| ROE | 13.8 | 14.7 | 21 of 34 | 39% |
| Debt / Equity | 0.3 | 0.1 | 21 of 34 | 39% |
| EBITDA margin | 15.9 | 16.4 | 20 of 35 | 44% |
| Market cap | 6531 | 6531 | 18 of 35 | 50% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 21 Oct 2026 · Powerica receives LOI for 50 MW wind power project from GUVNL | business updates | high | — | — |
| 6 Oct 2026 · Reg 74(5) Certificate: All Shares Held in Demat Mode for Q2 FY27 | compliance | minimal | — | — |
| 30 Sept 2026 · Trading Window Closure for Q2 FY26 Results | compliance | minimal | — | — |
| 24 Sept 2026 · Powerica board: new director, 4 re-appointments, secretarial auditor named | management changes | medium | — | — |
| 24 Sept 2026 · Powerica 42nd AGM: All 12 resolutions passed with majority | board shareholder meetings | medium | — | — |
| 24 Sept 2026 · Powerica Limited 42nd AGM proceedings held on Sep 24, 2026 | board shareholder meetings | medium | — | — |
| 22 Sept 2026 · Powerica to host analyst/institutional investor meet in Bangalore on Sept 29 | board shareholder meetings | low | — | — |
| 17 Sept 2026 · Powerica to meet analysts and investors on September 22, 2026 | board shareholder meetings | low | — | — |
| 15 Sept 2026 · Powerica cancels analyst and investor meeting scheduled for September 17 | general | low | — | — |
| 11 Sept 2026 · Powerica to hold analyst and investor meeting on September 17 | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | 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 |
Sources, method and disclosures
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.