TD Power Systems Q4 FY26 profit up 36%, stock jumps

Stock jumps to a fresh high on results

TD Power Systems shares rallied sharply on Friday, May 15, 2026, after the company reported strong March-quarter earnings and reiterated a healthy order book. The stock surged 10.70% to close at ₹1,310.70, and touched a new intra-day high of ₹1,318.75 on the BSE. Trading activity also picked up, with average volumes rising more than four-fold and a combined 8.16 million shares changing hands on the NSE and BSE.

The move came a day after the board meeting on May 14, 2026, where the company approved audited results for Q4 FY26 and FY26, and cleared key corporate actions. The announcements included a final dividend and a proposal to split the equity shares, both subject to shareholder processes where applicable.

Q4 FY26: profit rises 36% on 69% revenue growth

For the quarter ended March 31, 2026 (Q4 FY26), TD Power Systems reported a consolidated net profit of ₹72.19 crore, up 36.16% year-on-year (YoY) versus ₹53.02 crore in Q4 FY25. Revenue from operations rose 69.21% YoY to ₹589.19 crore from ₹348.21 crore.

Profit before tax (PBT) for the quarter climbed 40.32% YoY to ₹98.70 crore. The company also reported EBITDA of about ₹103.7 crore for Q4 FY26, up around 41% from ₹73.69 crore in Q4 FY25.

However, disclosures and market reports cited different quarter-on-quarter margin narratives. One set of figures stated EBITDA margin contracted to 17.4% in Q4 FY26 from 20.7% in Q4 FY25, while another set stated margins expanded to 20.7% from 17.4% in the comparable period. The quarter’s EBITDA absolute number was broadly consistent across reports.

Order inflow and order book support the earnings narrative

TD Power Systems reported a sharp rise in quarterly ordering activity. Order inflow in Q4 FY26 surged 64% YoY to ₹666.5 crore, with exports contributing 79% of the total inflow.

The order book stood at ₹1,972.9 crore as on March 31, 2026. Market commentary also attributed the healthy book to ordering across segments such as steam turbine generators and hydro generators, including international projects.

FY26: consolidated profit up 37%, revenue up 45%

On a full-year basis, the company reported a strong expansion in both profit and revenue. Consolidated net profit rose 36.78% to ₹238.77 crore in FY26 compared with ₹174.57 crore in FY25. Revenue from operations increased 45.16% to ₹1,856.23 crore in FY26 from ₹1,278.76 crore in FY25.

Order inflow for FY26 jumped 51% to ₹2,238.5 crore from ₹1,478.3 crore in FY25. The ordering trend, along with a near ₹1,973 crore order book at year-end, was a central data point for investors assessing revenue visibility.

Standalone numbers also show higher earnings

Alongside consolidated performance, the company’s audited standalone results for FY26 were also reported. Standalone net profit rose 41% to ₹216.44 crore (₹21,644.35 lakh), compared with ₹153.71 crore (₹15,371.00 lakh) in FY25. Standalone PBT increased to ₹294.08 crore (₹29,407.57 lakh) from ₹209.16 crore (₹20,916.22 lakh).

Standalone revenue from operations rose to ₹1,716.66 crore (₹1,71,666.38 lakh) from ₹1,265.40 crore (₹1,26,539.62 lakh). Standalone basic EPS for the full year was reported at ₹13.86, with diluted EPS at ₹13.85.

Board recommends ₹1.10 final dividend for FY26

The board recommended a final dividend of ₹1.10 per equity share of face value ₹2 each for FY26. The company said the dividend, if declared at the ensuing Annual General Meeting (AGM), would be paid within 30 days from the date of the AGM.

The company also reported that the final dividend recommended for FY26 was higher than the previous year’s ₹0.65 per share.

Board approves 1:2 stock split, subject to approvals

TD Power Systems said its board approved the sub-division (split) of existing equity shares from 1 equity share of face value ₹2 each into 2 equity shares of face value ₹1 each, fully paid-up. The split is subject to shareholder approval and other requisite approvals.

The stated rationale was to encourage participation from small investors by making the shares more affordable and to enhance liquidity. The company said the record date would be decided after obtaining necessary approvals, and the split was expected to be completed tentatively within three months from receipt of regulatory, statutory, and shareholder approvals.

What the price action is indicating

The results and corporate actions translated into sharp near-term outperformance. Over the past month, the stock rose nearly 40%, while the BSE Sensex declined 3.4% over the same period. Since April, the stock bounced back 55% from ₹850.95 (March 30, 2026). It also more than doubled from its January 2026 low of ₹602.15.

During Friday’s session, at around 02:31 PM, the stock was quoted about 10% higher at ₹1,302.05, compared with a 0.02% gain in the Sensex. Separately reported market data also put the stock near ₹1,294.10 on NSE and ₹1,298.85 on BSE on May 15, 2026.

Key numbers at a glance

Market impact and what investors will track next

The rally reflects two immediate factors: a strong YoY jump in Q4 profit and revenue, and visibility from the order book and order inflows. The split proposal can also improve tradability if and when it becomes effective, though it does not change the company’s underlying market value.

Investors will now track the AGM outcome for the dividend declaration and the shareholder approval process for the stock split. The company has also indicated that the split record date will be announced after requisite approvals, and the completion is expected within a three-month window after approvals.

Market participants have also discussed valuation. One report noted that as of mid-May 2026, TD Power Systems’ trailing P/E was around 80-90 times, a datapoint that may influence how investors weigh growth, execution, and order conversion over coming quarters.

Conclusion

TD Power Systems’ Q4 FY26 results showed strong YoY growth in profit, revenue, and ordering, while the year-end order book stayed near ₹1,973 crore. The board’s ₹1.10 final dividend recommendation and the 1:2 stock split proposal added to investor focus, with next milestones centered on AGM approval and the split implementation timeline.