Want to see IN:INDOTECH full AI Analyst Report?
Top Page
Indo Tech Transformers Ltd.
(INDOTECH)
Select Model
Select Model
Rating:69Neutral
Price Target:
₹3,498.00
▼(-5.81% Downside)
Action:Downgraded
Date:09/30/26
The score is primarily supported by strong fundamentals (rapid multi-year growth, improving margins, and a low-leverage balance sheet). It is held back by weaker near-term technical momentum (oversold but trending down) and a relatively premium valuation with a low dividend yield.
Positive Factors
Strong multi-year revenue and earnings growth
The substantial expansion in revenue and net income indicates growing demand for the company’s transformer products and improving operating scale. A larger earnings base can support continued investment, strengthen market participation, and provide a durable foundation for growth over the next several quarters.
Negative Factors
Inconsistent cash conversion
Cash generation has not tracked earnings consistently, with negative operating and free cash flow recorded in FY2023. Such volatility can reflect working-capital or project-cycle effects and may constrain the timing of reinvestment, debt reduction, or shareholder returns if it recurs.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong multi-year revenue and earnings growth
The substantial expansion in revenue and net income indicates growing demand for the company’s transformer products and improving operating scale. A larger earnings base can support continued investment, strengthen market participation, and provide a durable foundation for growth over the next several quarters.
Read all positive factors
Indo Tech Transformers Ltd. (INDOTECH) vs. iShares MSCI India ETF (INDA)
Market Cap
₹33.93B
Dividend Yield0.31%
Average Volume (3M)1.97K
Price to Earnings (P/E)34.1
Beta (1Y)1.85
Revenue Growth21.99%
EPS Growth28.73%
CountryIN
Employees286
SectorGeneral
Sector StrengthN/A
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)93.51
Shares Outstanding10,620,000
10 Day Avg. Volume1,688
30 Day Avg. Volume1,965
Financial Highlights & Ratios
PEG Ratio0.28
Price to Book (P/B)3.14
Price to Sales (P/S)1.50
P/FCF Ratio47.42
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Indo Tech Transformers Ltd. Business Overview & Revenue Model
Company Description
Headquartered in Kancheepuram, India, Indo Tech Transformers Limited, established in 1976, specializes in the manufacturing and worldwide distribution of transformers. Their comprehensive product portfolio spans a variety of transformer types, inc...
How the Company Makes Money
INDOTECH primarily makes money by manufacturing and selling transformers and transformer-related products to customers such as power utilities, industrial users, and other electrical infrastructure participants. Revenue is generated from (1) sale ...
Indo Tech Transformers Ltd. Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
91
Very Positive
Cash Flow
68
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.46B | 7.82B | 6.12B | 5.04B | 3.71B | 2.80B |
| Gross Profit | 1.95B | 1.84B | 1.66B | 1.46B | 983.17M | 751.90M |
| EBITDA | 1.35B | 1.31B | 915.11M | 649.55M | 323.26M | 182.21M |
| Net Income | 993.00M | 927.70M | 638.80M | 468.60M | 257.02M | 121.89M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 5.55B | 4.36B | 3.82B | 3.01B | 2.38B |
| Cash, Cash Equivalents and Short-Term Investments | 1.14B | 1.14B | 938.40M | 575.40M | 433.90M | 425.03M |
| Total Debt | 0.00 | 52.00M | 81.60M | 49.95M | 113.35M | 5.59M |
| Total Liabilities | -3.74B | 1.81B | 1.55B | 1.65B | 1.30B | 932.50M |
| Stockholders Equity | 3.74B | 3.74B | 2.81B | 2.17B | 1.71B | 1.45B |
Cash Flow | ||||||
| Free Cash Flow | -90.70M | 247.40M | 396.10M | 236.47M | -115.54M | 183.60M |
| Operating Cash Flow | 400.00K | 587.90M | 557.50M | 317.67M | -39.42M | 216.94M |
| Investing Cash Flow | -211.90M | -572.60M | -181.50M | -115.95M | -147.47M | -87.28M |
| Financing Cash Flow | 24.90M | -29.60M | 14.30M | -80.90M | 93.69M | -1.11M |
Indo Tech Transformers Ltd. Technical Analysis
Neutral
3713.60
Price Trends
3531.47
Negative
3178.76
Positive
2374.29
Positive
Market Momentum
-111.14
Positive
32.99
Neutral
23.63
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDOTECH, the sentiment is Neutral. The current price of 3713.6 is above the 20-day moving average (MA) of 3408.48, above the 50-day MA of 3531.47, and above the 200-day MA of 2374.29, indicating a neutral trend. The MACD of -111.14 indicates Positive momentum. The RSI at 32.99 is Neutral, neither overbought nor oversold. The STOCH value of 23.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:INDOTECH.
Indo Tech Transformers Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹107.42B | 33.50 | ― | 0.95% | 17.84% | -2.60% | |
69 Neutral | ₹33.93B | 34.09 | ― | 0.31% | 21.99% | 28.73% | |
69 Neutral | ₹134.18B | 35.55 | ― | 0.51% | 13.36% | 26.08% | |
58 Neutral | ₹23.96B | 21.17 | ― | 1.67% | 18.29% | -18.73% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹17.37B | 18.97 | ― | 0.37% | 14.96% | -4.12% | |
54 Neutral | ₹82.07B | 31.12 | ― | 0.09% | 14.60% | -1.12% |
* General Sector Average
IN:INDOTECH
Indo Tech Transformers Ltd.
3,191.25
1,472.86
85.71%
IN:BBL
Bharat Bijlee Limited
2,097.05
-1,162.13
-35.66%
IN:HPL
HPL Electric & Power Limited
268.55
-190.89
-41.55%
IN:TARIL
Transformers and Rectifiers (India) Limited
270.10
-219.81
-44.87%
IN:VGUARD
V-Guard Industries Limited
296.40
-73.19
-19.80%
IN:VOLTAMP
Voltamp Transformers Limited
10,509.95
3,402.43
47.87%
Indo Tech Transformers Ltd. Corporate Events
Indo Tech Transformers wins ₹55-crore transformer order from Waaree Renewable
Aug 31, 2026
Indo Tech Transformers Ltd. has received a Letter of Award from Waaree Renewable Technologies Ltd. to manufacture and supply five power transformers, comprising three 170/175 MVA units and two 125 MVA units, with a total order value of about ͅ...
India Ratings Revises Indo Tech Transformers’ Outlook to Positive, Affirms BBB+ Rating
Aug 17, 2026
India Ratings and Research has reaffirmed Indo Tech Transformers Ltd.’s bank loan facilities rating at IND BBB+ with a short-term rating of IND A2, while revising the outlook to Positive and assigning the same rating to additional limits. Th...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.