Valuation Update With 7 Day Price Move • Jun 25
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹2,935, the stock trades at a trailing P/E ratio of 33.6x. Average trailing P/E is 31x in the Electrical industry in India. Total returns to shareholders of 598% over the past three years. Reported Earnings • May 22
Full year 2026 earnings released: EPS: ₹87.36 (vs ₹60.15 in FY 2025) Full year 2026 results: EPS: ₹87.36 (up from ₹60.15 in FY 2025). Revenue: ₹7.93b (up 30% from FY 2025). Net income: ₹927.7m (up 45% from FY 2025). Profit margin: 12% (up from 10% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has increased by 86% per year, which means it is tracking significantly ahead of earnings growth. Annonce • May 15
Indo Tech Transformers Limited to Report Q4, 2026 Results on May 20, 2026 Indo Tech Transformers Limited announced that they will report Q4, 2026 results on May 20, 2026 Valuation Update With 7 Day Price Move • May 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹2,729, the stock trades at a trailing P/E ratio of 32.3x. Average trailing P/E is 30x in the Electrical industry in India. Total returns to shareholders of 1,291% over the past three years. Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to ₹1,717, the stock trades at a trailing P/E ratio of 20.3x. Average trailing P/E is 27x in the Electrical industry in India. Total returns to shareholders of 777% over the past three years. Reported Earnings • Feb 05
Third quarter 2026 earnings released: EPS: ₹23.45 (vs ₹18.15 in 3Q 2025) Third quarter 2026 results: EPS: ₹23.45 (up from ₹18.15 in 3Q 2025). Revenue: ₹1.99b (up 12% from 3Q 2025). Net income: ₹249.0m (up 29% from 3Q 2025). Profit margin: 13% (up from 11% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has increased by 89% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₹1,444, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 24x in the Electrical industry in India. Total returns to shareholders of 555% over the past three years. New Risk • Jan 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (30% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (7.0% average weekly change). Annonce • Jan 27
Indo Tech Transformers Limited to Report Q3, 2026 Results on Feb 04, 2026 Indo Tech Transformers Limited announced that they will report Q3, 2026 results on Feb 04, 2026 Reported Earnings • Nov 14
Second quarter 2026 earnings released: EPS: ₹23.33 (vs ₹16.69 in 2Q 2025) Second quarter 2026 results: EPS: ₹23.33 (up from ₹16.69 in 2Q 2025). Revenue: ₹1.87b (up 28% from 2Q 2025). Net income: ₹247.8m (up 40% from 2Q 2025). Profit margin: 13% (up from 12% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has increased by 115% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Oct 31
Indo Tech Transformers Limited to Report Q3, 2025 Results on Nov 13, 2025 Indo Tech Transformers Limited announced that they will report Q3, 2025 results on Nov 13, 2025 Annonce • Aug 06
Indo Tech Transformers Limited to Report Q1, 2026 Results on Aug 13, 2025 Indo Tech Transformers Limited announced that they will report Q1, 2026 results on Aug 13, 2025 Reported Earnings • Jul 23
Full year 2025 earnings released: EPS: ₹60.15 (vs ₹44.12 in FY 2024) Full year 2025 results: EPS: ₹60.15 (up from ₹44.12 in FY 2024). Revenue: ₹6.12b (up 22% from FY 2024). Net income: ₹638.8m (up 36% from FY 2024). Profit margin: 10% (up from 9.3% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has increased by 105% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Jul 14
Indo Tech Transformers Limited, Annual General Meeting, Aug 11, 2025 Indo Tech Transformers Limited, Annual General Meeting, Aug 11, 2025, at 10:30 Indian Standard Time. Board Change • May 23
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Non Executive Independent Director Leena Sathyanarayanan was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • May 22
Indo Tech Transformers Limited Announces Management Appointments Indo Tech Transformers Limited at its board meeting held on May 20, 2025 approved Appointment of Mr. M Purushothaman (11074837) as Additional Director of the company with effect from May 20, 2025. The company also appointed Mr. Shiva Prasad Padhy as Company Secretary of the company with effect from May 20, 2025 and noted Noting of Mr. Karthick. D (Membership Number: A65519), Compliance Officer as Key Managerial Personnel of the company with effect from March 27, 2025. The company also appointed Mr. Dayanand N as Chief Operating Officer and Key Managerial Personnel of the company with effect from May 20, 2025. Mr. Purushothaman M, holds a bachelor's degree in Electrical & Electronics Engineering. He has an overall 28 years' experience in the field of sales and marketing. He is employed with Indo Tech for the last 6+ years as President Sales & Marketing and appointed as CEO with effect from 07th April 2025. Mr. Shiva Prasad is a qualified Company Secretary and Fellow Member of Institute of Company Secretaries of India. He is also a graduate in Economics (Hons) and holds a LLB from Annamalai University. He has an overall experience of 19 plus years. He possesses notable experience regulatory compliance under Companies Act & SEBI Regulations including Board Management, Corporate Restructuring, Policy Development, Stakeholder Management etc., He is also proficient in handling General Counsel responsibilities including contract management, litigation management, advisory matters, and legal risk management. Mr. Karthick is a qualified Company Secretary and Associate Member of Institute of Company Secretaries of India. He is also a graduate in Commerce from Madras Christian College. He has a post qualification experience of 4 years and overall experience of 10 plus Years. He possesses hands on experience in the field of secretarial compliance under Companies Act & SEBI Regulations. Mr. Dayanand Ramakrishnan, President Operations, holds a bachelor's degree in Mechanical Engineering. He has overall experience of over 3 decades in the transformer industry. He is working with Indo Tech for the past 28 years before which he was employed as Production Executive at Crompton Greaves. During his employment tenure with Indo Tech, over the years he had worked in various functions of Production, Maintenance and Services at its organization. Reported Earnings • May 21
Full year 2025 earnings released: EPS: ₹60.15 (vs ₹44.12 in FY 2024) Full year 2025 results: EPS: ₹60.15 (up from ₹44.12 in FY 2024). Revenue: ₹6.28b (up 25% from FY 2024). Net income: ₹638.8m (up 36% from FY 2024). Profit margin: 10% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has increased by 135% per year, which means it is tracking significantly ahead of earnings growth. Annonce • May 13
Indo Tech Transformers Limited to Report Q4, 2025 Results on May 20, 2025 Indo Tech Transformers Limited announced that they will report Q4, 2025 results on May 20, 2025 Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹2,324, the stock trades at a trailing P/E ratio of 36x. Average trailing P/E is 38x in the Electrical industry in India. Total returns to shareholders of 949% over the past three years. Annonce • Apr 10
Indo Tech Transformers Limited Announces Resignation of Manikandan. M as Company Secretary, With effect from April 10, 2025 Indo Tech Transformers Limited announced that Manikandan. M has tendered his resignation as the Company Secretary of the Company, in order to pursue his career in independent professional practice. With effect from April 10, 2025. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹2,383, the stock trades at a trailing P/E ratio of 37x. Average trailing P/E is 36x in the Electrical industry in India. Total returns to shareholders of 998% over the past three years. Valuation Update With 7 Day Price Move • Feb 18
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to ₹1,908, the stock trades at a trailing P/E ratio of 29.6x. Average trailing P/E is 34x in the Electrical industry in India. Total returns to shareholders of 776% over the past three years. Annonce • Feb 12
Indo Tech Transformers Limited Announces CEO Changes, Effective from April 07, 2025 Indo Tech Transformers Limited at the board meeting held on February 11, 2025, approved the resignation of Mr. Shridhar Gokhale as Chief Executive Officer of the company, in order to pursue his personal interests, with effect from April 07, 2025. The company approved the appointment of Mr. M Purushothaman as Chief Executive Officer of the company with effect from April 07, 2025. Mr. M Purushothaman M, holds a bachelor's degree in Electrical & Electronics Engineering. He has an overall 30 plus years of experience in the field of sales and marketing. He is currently designated as President - Sale & Marketing in the company (Indo-Tech Transformers Limited) before which he was employed as Vice President - Transformers & Rectifiers (India). Reported Earnings • Feb 12
Third quarter 2025 earnings released: EPS: ₹18.15 (vs ₹10.06 in 3Q 2024) Third quarter 2025 results: EPS: ₹18.15 (up from ₹10.06 in 3Q 2024). Revenue: ₹1.77b (up 27% from 3Q 2024). Net income: ₹192.7m (up 80% from 3Q 2024). Profit margin: 11% (up from 7.7% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has increased by 114% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Feb 05
Indo Tech Transformers Limited to Report Q3, 2025 Results on Feb 11, 2025 Indo Tech Transformers Limited announced that they will report Q3, 2025 results on Feb 11, 2025 Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹2,516, the stock trades at a trailing P/E ratio of 44.6x. Average trailing P/E is 42x in the Electrical industry in India. Total returns to shareholders of 1,010% over the past three years. Valuation Update With 7 Day Price Move • Jan 03
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹3,361, the stock trades at a trailing P/E ratio of 59.6x. Average trailing P/E is 53x in the Electrical industry in India. Total returns to shareholders of 1,411% over the past three years. Recent Insider Transactions • Nov 26
CEO & Whole-Time Director recently sold ₹1.9m worth of stock On the 21st of November, Shridhar Gokhale sold around 700 shares on-market at roughly ₹2,734 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Shridhar's only on-market trade for the last 12 months. Reported Earnings • Nov 14
Second quarter 2025 earnings released: EPS: ₹16.69 (vs ₹6.66 in 2Q 2024) Second quarter 2025 results: EPS: ₹16.69 (up from ₹6.66 in 2Q 2024). Revenue: ₹1.49b (up 56% from 2Q 2024). Net income: ₹177.2m (up 151% from 2Q 2024). Profit margin: 12% (up from 7.4% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has increased by 142% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹2,571, the stock trades at a trailing P/E ratio of 55.5x. Average trailing P/E is 50x in the Electrical industry in India. Total returns to shareholders of 1,363% over the past three years. Annonce • Nov 06
Indo Tech Transformers Limited to Report Q2, 2025 Results on Nov 12, 2024 Indo Tech Transformers Limited announced that they will report Q2, 2025 results on Nov 12, 2024 Valuation Update With 7 Day Price Move • Oct 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹2,057, the stock trades at a trailing P/E ratio of 44.4x. Average trailing P/E is 50x in the Electrical industry in India. Total returns to shareholders of 1,080% over the past three years. Annonce • Sep 06
Indo Tech Transformers Limited, Annual General Meeting, Sep 27, 2024 Indo Tech Transformers Limited, Annual General Meeting, Sep 27, 2024, at 10:30 Indian Standard Time. Board Change • Aug 24
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Non Executive Independent Director Leena Sathyanarayanan was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annonce • Jul 30
Indo Tech Transformers Limited to Report Q1, 2025 Results on Aug 06, 2024 Indo Tech Transformers Limited announced that they will report Q1, 2025 results on Aug 06, 2024 Annonce • May 26
Indo Tech Transformers Limited Announces Resumption of Operations Indo Tech Transformers Limited announced the operations at the factory resumed effective May 24, 2024. At this point in time, no quantum of loss/damage impacting financial position of the company is ascertainable. Any such damages or loss, if material shall be duly reported to the Stock Exchanges in due course. The hearing posted on May 23, 2024, was duly convened. The resolution offered by the management to resolve the matter was deliberated and was duly agreed by the union/workers. The Conciliation Officer (DCL) documented the settlement arrived between the parties in writing and recorded that the operations at the factory will be restored effective May 24, 2024. Annonce • May 19
Indo Tech Transformers Limited to Report Q4, 2024 Results on May 23, 2024 Indo Tech Transformers Limited announced that they will report Q4, 2024 results on May 23, 2024 Valuation Update With 7 Day Price Move • May 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹1,426, the stock trades at a trailing P/E ratio of 37.3x. Average trailing P/E is 44x in the Electrical industry in India. Total returns to shareholders of 1,334% over the past three years. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹1,575, the stock trades at a trailing P/E ratio of 41.2x. Average trailing P/E is 38x in the Electrical industry in India. Total returns to shareholders of 1,676% over the past three years. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹1,208, the stock trades at a trailing P/E ratio of 31.6x. Average trailing P/E is 38x in the Electrical industry in India. Total returns to shareholders of 1,212% over the past three years. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹848, the stock trades at a trailing P/E ratio of 22.2x. Average trailing P/E is 35x in the Electrical industry in India. Total returns to shareholders of 769% over the past three years. Reported Earnings • Feb 15
Third quarter 2024 earnings released: EPS: ₹10.06 (vs ₹3.62 in 3Q 2023) Third quarter 2024 results: EPS: ₹10.06 (up from ₹3.62 in 3Q 2023). Revenue: ₹1.39b (up 67% from 3Q 2023). Net income: ₹106.8m (up 178% from 3Q 2023). Profit margin: 7.7% (up from 4.6% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has increased by 123% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹1,049, the stock trades at a trailing P/E ratio of 33x. Average trailing P/E is 39x in the Electrical industry in India. Total returns to shareholders of 941% over the past three years. New Risk • Feb 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Feb 08
Now 38% overvalued after recent price rise Over the last 90 days, the stock has risen 83% to ₹1,039. The fair value is estimated to be ₹753, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Meanwhile, the company has become profitable. Annonce • Feb 07
Indo Tech Transformers Limited to Report Q3, 2024 Results on Feb 13, 2024 Indo Tech Transformers Limited announced that they will report Q3, 2024 results on Feb 13, 2024 Valuation Update With 7 Day Price Move • Jan 15
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to ₹883, the stock trades at a trailing P/E ratio of 27.8x. Average trailing P/E is 39x in the Electrical industry in India. Total returns to shareholders of 762% over the past three years. Valuation Update With 7 Day Price Move • Jan 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹696, the stock trades at a trailing P/E ratio of 21.9x. Average trailing P/E is 35x in the Electrical industry in India. Total returns to shareholders of 494% over the past three years. Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: ₹6.66 (vs ₹1.25 in 2Q 2023) Second quarter 2024 results: EPS: ₹6.66 (up from ₹1.25 in 2Q 2023). Revenue: ₹981.7m (up 11% from 2Q 2023). Net income: ₹70.7m (up 432% from 2Q 2023). Profit margin: 7.2% (up from 1.5% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has increased by 88% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Nov 04
Indo Tech Transformers Limited to Report Q2, 2024 Results on Nov 09, 2023 Indo Tech Transformers Limited announced that they will report Q2, 2024 results on Nov 09, 2023 Valuation Update With 7 Day Price Move • Oct 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹508, the stock trades at a trailing P/E ratio of 19.3x. Average trailing P/E is 36x in the Electrical industry in India. Total returns to shareholders of 465% over the past three years. Valuation Update With 7 Day Price Move • Aug 28
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹459, the stock trades at a trailing P/E ratio of 17.4x. Average trailing P/E is 33x in the Electrical industry in India. Total returns to shareholders of 372% over the past three years. Reported Earnings • Aug 13
First quarter 2024 earnings released: EPS: ₹3.33 (vs ₹1.16 in 1Q 2023) First quarter 2024 results: EPS: ₹3.33 (up from ₹1.16 in 1Q 2023). Revenue: ₹940.3m (up 74% from 1Q 2023). Net income: ₹35.4m (up 188% from 1Q 2023). Profit margin: 3.8% (up from 2.3% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 68% per year, which means it is significantly lagging earnings growth. Annonce • Aug 05
Indo Tech Transformers Limited to Report Q1, 2024 Results on Aug 11, 2023 Indo Tech Transformers Limited announced that they will report Q1, 2024 results on Aug 11, 2023 Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹458, the stock trades at a trailing P/E ratio of 18.9x. Average trailing P/E is 31x in the Electrical industry in India. Total returns to shareholders of 383% over the past three years. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹409, the stock trades at a trailing P/E ratio of 16.9x. Average trailing P/E is 27x in the Electrical industry in India. Total returns to shareholders of 320% over the past three years. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 81% After last week's 81% share price gain to ₹359, the stock trades at a trailing P/E ratio of 14.8x. Average trailing P/E is 24x in the Electrical industry in India. Total returns to shareholders of 357% over the past three years. Reported Earnings • May 21
Full year 2023 earnings released: EPS: ₹24.20 (vs ₹11.48 in FY 2022) Full year 2023 results: EPS: ₹24.20 (up from ₹11.48 in FY 2022). Revenue: ₹3.74b (up 33% from FY 2022). Net income: ₹257.0m (up 111% from FY 2022). Profit margin: 6.9% (up from 4.3% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Annonce • May 20
Indo Tech Transformers Limited, Annual General Meeting, Sep 05, 2023 Indo Tech Transformers Limited, Annual General Meeting, Sep 05, 2023. Annonce • May 13
Indo Tech Transformers Limited to Report Q4, 2023 Results on May 19, 2023 Indo Tech Transformers Limited announced that they will report Q4, 2023 results on May 19, 2023 Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: ₹3.62 (vs ₹6.12 in 3Q 2022) Third quarter 2023 results: EPS: ₹3.62 (down from ₹6.12 in 3Q 2022). Revenue: ₹836.2m (up 2.2% from 3Q 2022). Net income: ₹38.4m (down 41% from 3Q 2022). Profit margin: 4.6% (down from 7.9% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Annonce • Feb 04
Indo Tech Transformers Limited to Report Q3, 2023 Results on Feb 10, 2023 Indo Tech Transformers Limited announced that they will report Q3, 2023 results on Feb 10, 2023 Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (4 non-independent directors). CEO & Whole-Time Director Shridhar Gokhale is the most experienced director on the board, commencing their role in 2018. Non Executive Independent Director Leena Sathyanarayanan was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Sep 15
Investor sentiment improved over the past week After last week's 21% share price gain to ₹234, the stock trades at a trailing P/E ratio of 11.1x. Average trailing P/E is 23x in the Electrical industry in India. Total returns to shareholders of 168% over the past three years. Reported Earnings • Aug 14
First quarter 2023 earnings released: EPS: ₹1.16 (vs ₹5.15 loss in 1Q 2022) First quarter 2023 results: EPS: ₹1.16 (up from ₹5.15 loss in 1Q 2022). Revenue: ₹548.2m (up 142% from 1Q 2022). Net income: ₹12.3m (up ₹67.0m from 1Q 2022). Profit margin: 2.2% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improved over the past week After last week's 19% share price gain to ₹215, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 20x in the Electrical industry in India. Total returns to shareholders of 128% over the past three years. Reported Earnings • May 30
Full year 2022 earnings released: EPS: ₹11.48 (vs ₹5.92 in FY 2021) Full year 2022 results: EPS: ₹11.48 (up from ₹5.92 in FY 2021). Revenue: ₹2.82b (up 37% from FY 2021). Net income: ₹121.9m (up 94% from FY 2021). Profit margin: 4.3% (up from 3.0% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorated over the past week After last week's 21% share price decline to ₹196, the stock trades at a trailing P/E ratio of 11.1x. Average trailing P/E is 19x in the Electrical industry in India. Total returns to shareholders of 107% over the past three years. Board Change • Apr 27
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. CEO & Whole-Time Director Shridhar Gokhale is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Feb 03
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹6.12 (up from ₹0.90 in 3Q 2021). Revenue: ₹820.5m (up 52% from 3Q 2021). Net income: ₹65.0m (up ₹55.4m from 3Q 2021). Profit margin: 7.9% (up from 1.8% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improved over the past week After last week's 29% share price gain to ₹286, the stock trades at a trailing P/E ratio of 21.4x. Average trailing P/E is 24x in the Electrical industry in India. Total returns to shareholders of 164% over the past three years. Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment improved over the past week After last week's 16% share price gain to ₹194, the stock trades at a trailing P/E ratio of 14.7x. Average trailing P/E is 20x in the Electrical industry in India. Total returns to shareholders of 82% over the past three years. Reported Earnings • Nov 11
Second quarter 2022 earnings released: EPS ₹4.80 (vs ₹3.07 loss in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹765.4m (up 97% from 2Q 2021). Net income: ₹51.0m (up ₹83.6m from 2Q 2021). Profit margin: 6.7% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.