Indo Tech Transformers Ltd
INDOTECHIndo Tech Transformers Ltd's price has outrun its earnings. +80.8% in a year against EPS +45.2% — the market is paying now for delivery later.
The sharpest disagreement: the price moved +80.8% in a year while annual EPS moved +45.2% — the difference is re-rating, and re-rating has to be repaid with earnings.
The price is in a confirmed uptrend (11 weeks in) while the P/E sits at the 83rd percentile of its own 7-year range. Underneath, the last four quarters read improving — profit +14.3% year on year, and 71% of the last 3 years' profit arrived as cash. What settles it: whether earnings grow into a price that has already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Indo Tech Transformers Ltd trades at ₹3,401, in a confirmed uptrend and 11 weeks into that stage. That is +57.6% against its own 200-day average. It sits at 100% of a 52-week range of ₹1,179 to ₹3,401. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 20 straight weeks.
Today the stock is in a confirmed uptrend — week 11 of stage 2, confirmed. At ₹3,401 it trades +57.6% versus its 200-day average and sits at 100% of its 52-week range (₹1,179–₹3,401).
Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +2,235% while the NIFTY 500 moved +280% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 20 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 83rd percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Indo Tech Transformers Ltd trades at 39.1× P/E, at the pricey end of its own range (83rd percentile). Its long-run median P/E is 25.8×, measured across 6.5 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 39.1× is at the pricey end of its own range (83rd percentile), against a long-run median of 25.8× measured over 6.5 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
🚨 Why the multiple sits where it does: over the past year annual EPS moved +45.2% against a +80.8% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 5y, of the +67.2%/yr price move, ~+71.3%/yr came from earnings growth and ~−4.1 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Consistent Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Indo Tech Transformers Ltd reads as consistent on its fundamental arc. Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 38.1% and holding. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: steady curves with healthy returns are the compounding setup — the risk is the price, not the business.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +27.8% | +28.2% | +30.6% | +15.2% |
| Profit | +45.3% | +52.9% | +73.0% | +37.0% |
| EPS | +45.2% | +53.4% | +71.3% | +36.9% |
| Share price | +80.8% | +104.8% | +67.2% | +29.0% |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
86.3/100 — rank 1 of 12 in Capital Goods - Transformers · 96% evidence confidence
Indo Tech Transformers Ltd scores 86.3 out of 100 against the 12 companies it is compared with in Capital Goods - Transformers, ranking 1. Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
The four contributions add to the total exactly: 31.3 + 20.8 + 14.2 + 20 = 86.3. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Indo Tech Transformers Ltd reported ₹239 Cr of revenue in the Mar 26 quarter, +16.0% year on year. That is the 7th straight quarter of year-on-year growth. Over 10 years it has compounded at 15.2% a year. The last full year, FY26, came in at ₹782 Cr. The last four reported quarters add to ₹782 Cr.
Indo Tech Transformers Ltd reported ₹239 Cr of revenue in the Mar 26 quarter, +16.0% year on year. That is the 7th straight quarter of year-on-year growth. Over 10 years it has compounded at 15.2% a year. The last full year, FY26, came in at ₹782 Cr. The last four reported quarters add to ₹782 Cr.
FY26 revenue came in at ₹782 Cr (+27.8% on the year), capping 10 years at 15.2% compound. The latest quarter (Mar 26) printed ₹239 Cr, +16.0% year on year — the 7th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +38.0% growth against the decade's 15.2% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +28.0% over the last 4 quarters against +24.7%/yr over the last 8 — accelerating; TTM profit +45.3% vs +39.2%/yr — accelerating.
→ Revenue grew — did margins hold as it scaled? Next: 14.0% this quarter (+4.0 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Indo Tech Transformers Ltd's operating margin is 14.0% in the Mar 26 quarter, +4.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 13 fiscal years the operating margin has ranged −16.0% to 15.0%. The current quarter sits inside that band.
Indo Tech Transformers Ltd's operating margin is 14.0% in the Mar 26 quarter, +4.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 13 fiscal years the operating margin has ranged −16.0% to 15.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 14.0%, +4.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −16.0%–15.0%, and FY26's 15.0% is the top of that band — a record year.
Why the margin moved: operating margin went +3.5 pp year on year while gross margin went +0.3 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.
→ Margins held — did that reach the bottom line? Next: profit +14.3% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Indo Tech Transformers Ltd earned ₹24.0 Cr of net profit in the Mar 26 quarter, +14.3% year on year. It is the 4th consecutive quarter of growth. Full-year FY26 profit was ₹93.0 Cr. The 10-year compound rate is 37.0%. That is 10.0% of the quarter's revenue. The same quarter a year earlier earned ₹21.0 Cr.
Indo Tech Transformers Ltd earned ₹24.0 Cr of net profit in the Mar 26 quarter, +14.3% year on year. It is the 4th consecutive quarter of growth. Full-year FY26 profit was ₹93.0 Cr. The 10-year compound rate is 37.0%. That is 10.0% of the quarter's revenue. The same quarter a year earlier earned ₹21.0 Cr.
Mar 26 profit was ₹24.0 Cr, +14.3% year on year — the 4th consecutive quarter of growth. On the full year, FY26 printed ₹93.0 Cr (+45.3%), and the 10-year compound rate is 37.0%.
Why profit moved: revenue contributed +16.0% and the margin +4.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +75.4% vs revenue +38.0%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
→ Profit rose — but did the cash follow? Next: 71% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 71% of Indo Tech Transformers Ltd's reported profit arrived as operating cash — most of the profit is real cash. In FY26 that was ₹57.0 Cr of operating cash against ₹93.0 Cr of profit. After ₹36.0 Cr of capital spending, ₹21.0 Cr was left as free cash.
FY26: operating cash of ₹57.0 Cr against reported profit of ₹93.0 Cr, leaving free cash of ₹21.0 Cr after ₹36.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 71% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 71%: the cash cycle stretched 29 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.
Router verdict: conversion is below par and the cash cycle has stretched 29 days — the next section's job is to find where the cash is stuck.
→ So follow the cash to where it goes. Next: the 147-day cycle, in money terms.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Indo Tech Transformers Ltd's cash conversion cycle runs 147 days in FY26, up from 118 days in FY21. Capital spending ran ₹56.0 Cr over the last 3 years. At FY26 sales of ₹782 Cr each day of that cycle holds about ₹2.1 Cr, so roughly ₹315 Cr sits inside the business at any moment.
FY26: debtors at 56 days, inventory at 129 days — roughly 4.2 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 147 days, looser than FY21's 118.
The full loop: cash goes out to suppliers and production on day 0; stock waits 129 days to sell; customers pay about 56 days after that; and suppliers themselves are paid at 38 days — netting out to the 147-day cycle.
In money terms: at FY26 sales of ₹782 Cr, each day of the cycle holds about ₹2.1 Cr — so the 147-day loop keeps roughly ₹315 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹56.0 Cr over the last 3 fiscal years against ₹14.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹12.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 38% and the ROIC − WACC spread is +22.2 pp.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Indo Tech Transformers Ltd earns a ROCE of 38% in FY26. That is up from a trough of −5% in FY19. Return on invested capital clears the cost of that capital by +22.2 percentage points, so growth here adds value rather than only size. The wiring behind it is 11.9% net margin on 1.41× asset turns.
FY26 ROCE is 38%, recovered from a FY19 trough of −5% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 11.9% net margin × 1.41× asset turns × 1.48× balance-sheet leverage ≈ 24.8% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 34.2% − 12.0% = a +22.2 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.01.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Indo Tech Transformers Ltd carries total debt of ₹5.0 Cr against shareholder equity of ₹374 Cr as of Mar 26, a debt-to-equity of 0.01 — effectively unlevered. On the annual view that ratio went from 0.01 in FY22 to 0.01 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹5.0 Cr against shareholder equity of ₹374 Cr — a debt-to-equity of 0.01. On the annual view, debt-to-equity went from 0.01 (FY22) to 0.01 (FY26). The returns on this page are earned, not borrowed.
→ Who owns this, and are they adding or leaving? Next: Promoters cut 2.8 points over 8 quarters.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Promoters cut 2.8 points of Indo Tech Transformers Ltd over 8 quarters, the biggest move on the register. That takes promoters to 72.2% of the company. Foreign institutions moved −0.1 points over the same window, to 0.3%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Promoters: −2.8 points over 8 quarters to 72.2%; Foreign institutions: −0.1 points over 8 quarters to 0.3%; Domestic institutions: +0.0 points over 8 quarters to 0.1%.
🚨 Why the register moved: promoters drove it (−2.8 points) — distribution into the market’s bid.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Indo Tech Transformers Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Indo Tech Transformers Ltd this page | 39.1× | ₹3,630 Cr | Mixed | |||
| CG Power & Industrial Solutions Ltd | 107.0× | ₹1.4L Cr | Turning around | |||
| Schneider Electric Infrastructure Ltd | 145.0× | ₹32,341 Cr | Mixed | |||
| Voltamp Transformers Ltd | 31.7× | ₹9,288 Cr | Topping out | |||
| Transformers & Rectifiers India Ltd | 34.2× | ₹8,855 Cr | Topping out | |||
| Shilchar Technologies Ltd | 30.9× | ₹4,882 Cr | Topping out | |||
| Bharat Bijlee Ltd | 23.7× | ₹2,848 Cr | Mixed | |||
| Ujaas Energy Ltd | 780.0× | ₹2,380 Cr | No read | |||
| Marsons Ltd | 40.8× | ₹1,892 Cr | Mixed | |||
| Danish Power Ltd | 23.5× | ₹1,622 Cr | — | — | — | — |
| Ujaas Energy Ltd | 588.0× | ₹1,601 Cr | No read | |||
| Vilas Transcore Ltd | 22.1× | ₹875 Cr | No read | |||
| Supreme Power Equipment Ltd | 23.5× | ₹481 Cr | Mixed |
Frequently asked questions
What is Indo Tech Transformers Ltd's share price today?
Indo Tech Transformers Ltd trades at ₹3,401, +80.8% over the past year. The company is valued at ₹3,630 Cr. The stock sits at 100% of its 52-week range of ₹1,179–₹3,401, +57.6% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 11 weeks in. — as of 24 July 2026.
What were Indo Tech Transformers Ltd's latest quarterly results?
Indo Tech Transformers Ltd reported revenue of ₹239 Cr and net profit of ₹24.0 Cr for the Mar 26 quarter. Revenue rose 16.0% and profit rose 14.3% year on year. Earnings per share were ₹22.52. The operating margin was 14.0%, 4.0 pp higher than a year earlier. — as of 24 July 2026.
What is Indo Tech Transformers Ltd's revenue?
Indo Tech Transformers Ltd reported revenue of ₹239 Cr in the Mar 26 quarter, +16.0% year on year. For the full FY26 fiscal year, revenue was ₹782 Cr (+27.8%). Over the last 10 years revenue compounded at 15.2% a year. — as of 24 July 2026.
What is Indo Tech Transformers Ltd's profit?
Indo Tech Transformers Ltd earned ₹24.0 Cr of net profit in the Mar 26 quarter, +14.3% year on year — the 4th straight quarter of growth. Full-year FY26 profit was ₹93.0 Cr. The operating margin ran 14.0% in the latest quarter. — as of 24 July 2026.
What is Indo Tech Transformers Ltd's market cap?
Indo Tech Transformers Ltd's market capitalisation is ₹3,630 Cr at a share price of ₹3,401. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is Indo Tech Transformers Ltd's P/E ratio?
Indo Tech Transformers Ltd trades at a P/E of 39.1×, at the 83rd percentile of its own 7-year range, against a long-run median of 25.8×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does Indo Tech Transformers Ltd pay a dividend?
No — Indo Tech Transformers Ltd has recorded a dividend payout of 0% of profit in each of its last 13 reported fiscal years, so there is no payout history to quote. That is a reading of the filed annual statements, not an estimate. — as of 24 July 2026.
Is Indo Tech Transformers Ltd overvalued?
On its own history, Indo Tech Transformers Ltd looks expensive against its own history: its P/E of 39.1× sits at the 83rd percentile of its 7-year range (long-run median 25.8×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 24 July 2026.
Is Indo Tech Transformers Ltd growing?
Yes — Indo Tech Transformers Ltd is growing: latest-quarter revenue +16.0% year on year, profit +14.3%, and the margin +4.0 pp at 14.0%. The 10-year compound rates are 15.2% (revenue) and 37.0% (profit). The earnings engine currently reads: improving — as of 24 July 2026.
How is Indo Tech Transformers Ltd performing?
Indo Tech Transformers Ltd is in a confirmed uptrend, 11 weeks in. Its latest quarter's revenue rose 16.0% and profit rose 14.3% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 20 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
What stage is Indo Tech Transformers Ltd in?
Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 38.1% and holding. The read comes from the last 12 quarters of growth (revenue growth +28.0% latest, profit growth +45.3% latest, eps growth +45.2% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.
Is Indo Tech Transformers Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 11 of stage 2), trading +57.6% versus its 200-day average and at 100% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is Indo Tech Transformers Ltd beating the market?
On recent form, yes — Indo Tech Transformers Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 20 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.4 years the stock moved +2,235% against the NIFTY 500's +280% — ahead of the index over the full window. — as of 24 July 2026.
Will Indo Tech Transformers Ltd's share price go up?
This page publishes no price forecast for Indo Tech Transformers Ltd. What it measures instead: the share price is ₹3,401, the price is in a confirmed uptrend 11 weeks in. Its P/E of 39.1× sits at the 83rd percentile of its own 7-year range. — as of 24 July 2026.
Who owns Indo Tech Transformers Ltd?
Promoters hold 72.2% of Indo Tech Transformers Ltd, foreign institutions 0.3%, domestic institutions 0.1% and the public 27.5% (latest quarter). The biggest move on the register over the last two years: Promoters cut 2.8 points over 8 quarters. — as of 24 July 2026.
Does Indo Tech Transformers Ltd have too much debt?
No — Indo Tech Transformers Ltd's debt-to-equity is 0.01, and operating profit covers the interest bill 60×. FY26 borrowings were ₹5.0 Cr against equity of ₹374 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.
What is Indo Tech Transformers Ltd's capex?
Indo Tech Transformers Ltd spent ₹56.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹36.0 Cr, with ₹12.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is Indo Tech Transformers Ltd's cash flow?
Indo Tech Transformers Ltd generated ₹57.0 Cr of operating cash flow in FY26 and ₹21.0 Cr of free cash flow after ₹36.0 Cr of capital spending. Reported profit that year was ₹93.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is Indo Tech Transformers Ltd's profit real cash?
Mostly — over the last 3 fiscal years, 71% of Indo Tech Transformers Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹57.0 Cr against reported profit of ₹93.0 Cr. The cash then goes mostly into the working-capital cycle. Cash-flow resolution is annual — as of 24 July 2026.
Where is Indo Tech Transformers Ltd in its business cycle?
Indo Tech Transformers Ltd's FY26 operating margin was 15.0%, against a 13-year band of −16.0%–15.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 14.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the Indo Tech Transformers Ltd story?
The sharpest disagreement: the price moved +80.8% in a year while annual EPS moved +45.2% — the difference is re-rating, and re-rating has to be repaid with earnings. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is Indo Tech Transformers Ltd a stock worth studying right now?
This is not investment advice. The machine read: Indo Tech Transformers Ltd's price has outrun its earnings. +80.8% in a year against EPS +45.2% — the market is paying now for delivery later. The sharpest open question: whether earnings grow into a price that has already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.