Manufactures electrical transformers, with solar power listed as a secondary segment that has generated no meaningful revenue in recent quarters. In FY26, total revenue was Rs. 173.06 crore, with the transformers segment accounting for the entire reported period segment revenue. The business runs quarterly, with Q3 FY26 alone delivering Rs. 51.57 crore from transformers and 9M FY26 reaching Rs. 126.62 crore across operations. Materials and components dominate the cost structure at 80.4% of revenue, with employee cost at 2.8% and other operating expenses at 8.3%. The company is headquartered in Bhopal and operates under the Heavy Electrical Equipment classification. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Transformers, Solar Power. Small-cap heavy electrical equipment manufacturer, single-product focused on transformers.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 31 | 71 | 140 | 142 | 173 |
| EBITDA (ex other income) | 2 | 5 | 13 | 15 | 17 |
| margin % | 5.4 | 7.7 | 9.4 | 10.3 | 9.8 |
| Owners' profit | 4 | 6 | 11 | 11 | 12 |
| EPS, as reported (₹) | 24.34 | 38.38 | 37.05 | 35.42 | 39.79 |
| ROE % · ROCE % | 6.4 · 9.5 | 9.2 · 13.2 | 15.1 · 22.1 | 12.6 · 17.2 | 12.4 · 17.5 |
| Debt / equity (x) | 0.01 | 0.04 | 0.03 | 0.03 | 0.11 |
| Cash from operations | 3 | (16) | (7) | 3 | (11) |
| Capex | (0) | (0) | (1) | (1) | (0) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 37 | 33 | 38 | 30 | 44 | 53 | 46 | 37 |
| Profit before tax | 4 | 3 | 4 | 3 | 4 | 4 | 6 | 2 |
| Net profit | 3 | 2 | 3 | 2 | 4 | 2 | 4 | 1 |
| EPS (₹) | 19.16 | 15.04 | 10.20 | 15.14 | 13.24 | 6.87 | 14.73 | 4.67 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Transformers | 111 | 78.3 |
| TRANSFORMERS | 31 | 21.7 |
| Total, before eliminations | 142 | 100.0 |
| 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 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Sept 2026 · Newspaper notice published for 50th AGM on September 29, 2026 | compliance | minimal | — | — |
| 4 Sept 2026 · Star Delta FY26 Annual Report filed; revenue up 22%, PAT at Rs 11.94 Cr | compliance | low | — | — |
| 4 Sept 2026 · 50th AGM on Sept 29, 2026 at Bhopal; no dividend declared | board shareholder meetings | low | — | — |
| 25 Aug 2026 · 50th AGM scheduled for September 29, 2026; no dividend recommended | compliance | minimal | — | — |
| 25 Aug 2026 · Newspaper notice for 50th AGM of Star Delta Transformers on Sept 29, 2026 | compliance | minimal | — | — |
| 24 Aug 2026 · Book closure and voting cut-off date for 50th AGM on September 29, 2026 | board shareholder meetings | low | — | — |
| 24 Aug 2026 · Book Closure and Cut-off Date Intimation for 50th AGM on September 29, 2026 | board shareholder meetings | low | — | — |
| 17 Aug 2026 · Star Delta Transformers submits Q1 FY27 results newspaper publication to BSE | compliance | minimal | — | — |
| 14 Aug 2026 · Star Delta Transformers Q1 FY27 results: revenue up, profit down | results | high | — | — |
| 10 Aug 2026 · Board meeting on Aug 14, 2026 to consider Q1 FY26 financial results | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 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 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 11.2 | 35.1 | 5 of 34 | 88% |
| P/B | 1.4 | 5.7 | 3 of 33 | 94% |
| ROCE | 16.0 | 16.6 | 19 of 36 | 49% |
| ROE | 12.4 | 14.6 | 23 of 35 | 35% |
| Debt / Equity | 0.1 | 0.1 | 18 of 35 | 50% |
| EBITDA margin | 6.0 | 16.4 | 31 of 35 | 12% |
| Revenue growth | 24.0 | 17.7 | 14 of 33 | 59% |
| Profit growth | (38.2) | 6.7 | 25 of 32 | 23% |
| Market cap | 133 | 7198 | 35 of 35 | 0% |
| 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.
