Assembled from the company's filings and exchange data as of today. Download PDF renders this page on the server; the narrative sections arrive with the Nexa composer.
Dossier · PTC INDIA LIMITED · 29 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
PTC INDIA LIMITED NSE: PTC · BSE: 532524
Utilities › Power › Power › Power Trading
PTC INDIA LIMITED
StateQ1 FY27 filed
Last close · 28 Oct 2026₹136.87
Market cap₹4.1k cr
TTM P/E · P/B · EV/EBITDA8.0 · 0.57 · 5.2
Trades electricity between power generators and buyers such as state-owned distribution companies (DISCOMs), and separately lends to power projects. In FY26 the Power segment generated ₹16,450.28 crore (96% of segment revenue), while the Financing business generated ₹510.70 crore (3%) but produced a similar level of segment EBIT (₹387.38 crore) as the much larger Power segment (₹376.48 crore). The volume mix has shifted toward short-term trades versus a historical 50-50 split with long-term contracts, as DISCOMs prefer shorter commitments. PTC India signed a 1,200 MW solar Power Purchase Agreement with NTPC Renewable Energy Ltd in July 2026 and is awaiting DIPAM approval for a ~2,000 MW renewable and battery storage (BESS) joint venture with NLC India. Management says the company was the first to trade BESS power and to supply green power for green hydrogen (a 10 MW arrangement at GAIL Vijaipur). Consolidated PAT ex-PEL was ₹717.44 crore in FY26; the reported cost shape shows negligible materials and employee costs at 0.5% of revenue. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Power (96%), Financing business (3%), Unallocated (1%). Asset-light electricity trading with a small project-financing book.
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
₹ crore · consolidated
FY22
FY23
FY24
FY25
FY26
Revenue
16,856
15,971
16,763
16,241
16,771
EBITDA (ex other income)
1,575
1,352
1,042
1,436
878
margin %
9.3
8.5
6.2
8.8
5.2
Owners' profit
506
446
477
900
606
EPS, as reported (₹)
17.10
15.05
16.11
30.41
20.46
ROE % · ROCE %
10.0 · 12.9
8.6 · 11.9
8.8 · 10.8
14.4 · 17.0
10.2 · 15.2
Debt / equity (x)
1.77
1.11
0.71
0.44
0.25
Cash from operations
3,049
3,575
2,451
1,921
2,817
Capex
(10)
(1)
(3)
(5)
(4)
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · PTC INDIA LIMITED · 29 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
₹ crore
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
Q3 FY26
Q4 FY26
Q1 FY27
Revenue
5,128
3,421
3,006
4,009
5,459
3,405
3,898
4,774
Profit before tax
219
227
467
287
298
176
164
150
Net profit
234
181
372
243
222
131
121
112
EPS (₹)
7.34
5.31
11.88
6.59
6.46
3.85
3.56
3.31
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Segment revenue, FY26
Segment
Revenue, ₹ crore
Share %
Power
16,450
96.0
Financing business
511
3.0
Unallocated
177
1.0
Total, before eliminations
17,138
100.0
Source: the filed segment block, four quarters summed.
Exhibit 4: Where the company sits in its group
Metric
Company
Group median
Rank
Better than
P/E (TTM)
8.0
19.6
5 of 31
87%
P/B
0.6
1.4
5 of 35
88%
ROCE
11.4
3.1
3 of 38
95%
ROE
10.2
8.7
13 of 35
65%
Debt / Equity
0.3
0.8
9 of 35
77%
EBITDA margin
4.3
41.1
31 of 33
6%
Revenue growth
19.1
7.8
11 of 33
69%
Profit growth
(53.9)
7.6
31 of 34
9%
Market cap
4051
6470
21 of 38
46%
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · PTC INDIA LIMITED · 29 October 2026Page 3 of 3
Exhibit 5: Filings of the last 90 days, with the measured price reaction
Date · filing
Category
Importance
Next day %
5-day %
27 Oct 2026 · PTC India to discuss Q2 and H1 FY27 results on 3 November 2026
board shareholder meetings
low
—
—
26 Oct 2026 · PTC India to set up mineral exchange subsidiary
strategic transactions
medium
—
—
20 Oct 2026 · PTC India gets ESG rating of 63 (Strong) from CRISIL
credit debt
medium
—
—
16 Oct 2026 · PTC India appoints POWERGRID nominee director Amol Taori
management changes
medium
—
—
15 Oct 2026 · PTC India nominee director Rohilla ceases; POWERGRID to name replacement
management changes
medium
—
—
15 Oct 2026 · PTC India board meeting on Nov 2 to consider Q2/H1 FY26-27 results
results
low
—
—
7 Oct 2026 · PTC India files SEBI Regulation 74(5) compliance certificate for Q2 FY27
compliance
minimal
—
—
2 Oct 2026 · PTC India files newspaper ad on special window for physical share transfer
compliance
minimal
—
—
1 Oct 2026 · PTC India 27th AGM: All 5 resolutions passed, dividend Rs 5.5/share approved
board shareholder meetings
low
—
—
30 Sept 2026 · PTC India extends term of Executive Director Rajiv Malhotra by 1 year
management changes
medium
—
—
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
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Why
A rating (BUY / ADD / REDUCE / SELL)
A state: the latest filed quarter and the measured reactions
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A target price and upside
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a target is a forecast; a multiple is a measurement
Estimate years marked E
More audited years; no estimates
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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.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
