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PTC India Limited
(PTC)
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Rating:72Outperform
Price Target:
₹174.00
▲(5.78% Upside)
Action:Reiterated
Date:08/21/26
The score is driven primarily by strong cash generation and a meaningfully improved balance sheet, supported by an attractive valuation (low P/E and very high dividend yield). These positives are tempered by pressured FY2026 profitability and mixed technical signals with the stock trading below key short-to-medium-term moving averages.
Positive Factors
Strong Cash Generation
Consistent operating and free cash flow, with FCF near 100% of net income, indicates reported profits are converting into cash. The FY2026 FCF rebound supports funding capacity and earnings quality over the next several quarters.
Negative Factors
Compressed Profit Margins
Material margin compression suggests weaker trading spreads, pricing pressure, or higher operating costs. Because PTC depends on transaction economics rather than owned generation assets, sustained pressure could constrain profitability even if volumes grow.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Cash Generation
Consistent operating and free cash flow, with FCF near 100% of net income, indicates reported profits are converting into cash. The FY2026 FCF rebound supports funding capacity and earnings quality over the next several quarters.
Read all positive factors
PTC India Limited (PTC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹46.89B
Dividend Yield14.59%
Average Volume (3M)61.69K
Price to Earnings (P/E)9.2
Beta (1Y)1.18
Revenue Growth15.24%
EPS Growth-44.80%
CountryIN
Employees108
SectorGeneral
Sector StrengthN/A
IndustryIndependent Power Producers
Share Statistics
EPS (TTM)17.18
Shares Outstanding296,008,330
10 Day Avg. Volume67,986
30 Day Avg. Volume61,685
Financial Highlights & Ratios
PEG Ratio-0.24
Price to Book (P/B)0.78
Price to Sales (P/S)0.28
P/FCF Ratio1.67
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)14.4
Revenue Forecast (FY)₹170.86B
PTC India Limited Business Overview & Revenue Model
Company Description
PTC India Limited, operating alongside its various subsidiaries, is actively engaged in the commerce of electricity throughout India, Nepal, Bhutan, and Bangladesh, including international cross-border transactions. The company manages power deals...
How the Company Makes Money
PTC makes money mainly through its role as a power trading intermediary and from related service activities.
1) Electricity trading margins/fees: PTC facilitates short-, medium-, and longer-tenure power purchase arrangements by sourcing electrici...
PTC India Limited Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
72
Positive
Cash Flow
83
Very Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Jun 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 174.56B | 167.71B | 162.41B | 167.83B | 153.04B | 163.19B |
| Gross Profit | 7.82B | 8.60B | 12.41B | 13.75B | 11.06B | 14.85B |
| EBITDA | 9.77B | 7.33B | 14.72B | 10.87B | 11.33B | 15.96B |
| Net Income | 5.09B | 6.06B | 9.00B | 4.77B | 4.46B | 5.06B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 126.31B | 129.16B | 151.23B | 166.30B | 198.82B |
| Cash, Cash Equivalents and Short-Term Investments | 46.71B | 46.71B | 34.35B | 21.52B | 18.26B | 21.64B |
| Total Debt | 0.00 | 17.69B | 29.62B | 43.27B | 65.46B | 97.71B |
| Total Liabilities | -70.59B | 55.72B | 61.47B | 90.93B | 107.56B | 143.66B |
| Stockholders Equity | 70.59B | 59.81B | 58.05B | 51.42B | 50.19B | 47.23B |
Cash Flow | ||||||
| Free Cash Flow | 22.33B | 27.99B | 17.92B | 24.48B | 35.74B | 30.39B |
| Operating Cash Flow | 22.36B | 28.03B | 17.98B | 24.51B | 35.75B | 30.49B |
| Investing Cash Flow | -23.42B | -11.20B | 8.78B | -5.04B | 1.68B | 461.20M |
| Financing Cash Flow | -12.39B | -31.17B | -18.17B | -20.42B | -40.19B | -27.88B |
PTC India Limited Technical Analysis
Neutral
164.50
Price Trends
158.46
Negative
164.62
Negative
154.01
Positive
Market Momentum
-0.53
Positive
47.46
Neutral
28.53
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PTC, the sentiment is Neutral. The current price of 164.5 is above the 20-day moving average (MA) of 163.63, above the 50-day MA of 158.46, and above the 200-day MA of 154.01, indicating a neutral trend. The MACD of -0.53 indicates Positive momentum. The RSI at 47.46 is Neutral, neither overbought nor oversold. The STOCH value of 28.53 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:PTC.
PTC India Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹46.89B | 9.18 | ― | 5.90% | 15.24% | -44.80% | |
63 Neutral | ₹982.75B | 47.79 | ― | 0.36% | 35.37% | -10.03% | |
63 Neutral | ₹619.90B | 26.41 | ― | 1.39% | 4.09% | -16.62% | |
62 Neutral | ₹3.19T | 11.53 | ― | 2.55% | 2.36% | 15.88% | |
56 Neutral | ₹4.14T | 28.77 | ― | ― | 1.22% | 14.86% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹1.12T | 29.08 | ― | 0.67% | -4.19% | -4.84% |
* General Sector Average
IN:PTC
PTC India Limited
157.65
5.22
3.43%
IN:ADANIPOWER
Adani Power Limited
212.50
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IN:JSWENERGY
JSW Energy Limited
535.00
48.70
10.02%
IN:NTPC
NTPC Limited
331.50
12.37
3.88%
IN:TATAPOWER
Tata Power Company Limited
351.65
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-5.42%
IN:TORNTPOWER
Torrent Power Limited
1,217.90
6.59
0.54%
PTC India Limited Corporate Events
PTC India Posts Higher Power Trading Volumes and Shares Q1 FY27 Earnings Call Transcript
Aug 10, 2026
PTC India Limited informed stock exchanges that it has uploaded the transcript of its investors and analysts call discussing unaudited financial results for the quarter ended 30 June 2026. The Q1 FY27 earnings call was led by Managing Director and...
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.