TD Power zooms 162% from March low; what's driving smallcap stock?

Shares of TD Power Systems hit a new high of ₹768.45, surging 12 per cent on the BSE in Friday's intra-day trade amid heavy volumes in an otherwise weak market.

Share price of TD Power Systems today

 

Shares of TD Power Systems hit a new high of ₹768.45, surging 12 per cent on the BSE in Friday’s intra-day trade on the back of heavy volumes in an otherwise tepid market owing to strong September quarter (Q2FY26) results.

 

In the past two months, the stock price of the smallcap company has soared 53 per cent. It has zoomed 162 per cent from its 52-week low of ₹292.85 touched on March 3, 2025.

 

At 11:35 AM; TD Power Systems was quoting 8 per cent higher at ₹737.25, as compared to 0.31 per cent decline in the BSE Sensex. The average trading volumes at the counter jumped over six-fold with a combined 8.09 million equity shares representing 5.2 per cent of total equity of the company changing hands on the NSE and BSE.

 

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What’s driving TD Power Systems stock price?

 

In Q2FY26, TD Power Systems reported a healthy 49 per cent year-on-year (YoY) jump in its consolidated profit after tax (PAT) at ₹60.74 crore. Revenue from operations grew 48 per cent YoY at ₹452.47 crore. Earnings before interest, taxes, depreciation, and amortization (Ebitda) rose 46 per cent YoY at ₹85.78 crore. The reported Ebitda margins however remained unchanged at 18.8 per cent.

 

As on September 30, 2025, the company’s order book position stood at ₹1,587 crore. In Q2FY26, the company reported 45 per cent YoY growth in order inflow at ₹524.1 crore, of 84 per cent order inflow from exports.

 

Outlook – TD Power Systems

 

The company steps into fiscal 2026 with conviction, backed by a healthy order book and a solid balance sheet. The road ahead presents a mix of complexity and promise, shaped by the momentum of the energy transition, expanding global infrastructure, and accelerating digital transformation. These long-term forces are shaping demand across our industry, and TD Power System is strategically positioned to respond. Through focused investments in scale, engineering capabilities, and closer engagement with customers, the company is translating sectoral shifts into meaningful growth, said TD Power Systems in its FY25 annual report.

 

Data centre-related demand, in particular, is surging and expected to contribute to a 100 GW spike in US power demand by 2030. The management said the company is gearing up to address this with the development of larger generators in the 40–45 MW range, with deliveries scheduled to begin in fiscal 2026. This will position us well for a massive potential scale-up from fiscal 2027 onwards.

 

The hydro segment has also remained stable and is expected to grow in next coming years. This is primarily supported by the export and domestic market. This reliability highlights hydro’s role as a steady contributor in a dynamic energy sector.

 

The market for TD Power Systems Generators in North America, Central America, and South America continues to expand greatly. The current outlook for critical markets such as Oil & Gas, onshore pipelines, fracking, and offshore drilling/production are improving under the new US Administration, which is limiting the barriers for new projects. Opportunities in the steam sector are active, particularly in Latin and South America for applications in sugar/ ethanol, pulp, biomass and waste heat markets, the company said.

 

Overall, the European market grew significantly in FY25 and the trend is expected to continue with a positive growth rate of around 20 per cent in the coming year. Meanwhile, the Turkish market continues to face a significant downturn in local manufacturing projects, primarily due to the ongoing economic slowdown and the Government’s incentive policy favouring locally manufactured power equipment, including generators. This trend remains unchanged, and the outlook remains bleak, the company said.