On 6 Nov 2026, Accord Transformer & Switchgear was priced at ₹86.45, or 29.8× trailing earnings, against an industry P/E of 30.0×, and the shares are 26% below their 52-week high. Sales and net profit grew 20% and 72% a year over 3 years; its ROCE of 13% is the lowest among the 7 largest Electrical Equipment & Parts peers. Debt is 0.18× equity. It is listed on an SME platform with a market cap of ₹178 Cr, ranked 74th of 97 Electrical Equipment & Parts companies by market cap; the shares rose 65% over the past year.
- ₹88.50
- ₹88.50
- ₹84.00
- ₹85.62
- 27K
Health check
- ReturnsAhead
+64.7% over a year, better than 6 of 7 peers.
- Price tagIn line
P/E 29.8 vs industry 30.0.
- GrowthStrong
Sales +19.8%, profit +72.4% a year over 3 years.
- ProfitabilityWeak
ROCE 13.2% vs peer median 22.1%.
- Balance sheetSolid
Debt 0.18× equity, interest covered 12.9×, Piotroski 7 of 9.
- Red flagsNone found
No warning signs in the headline numbers.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹178 Cr
- Small cap
- P/E
- 29.8
- Industry 30.0
- Price to book
- 3.64
- Peers 7.24
- Dividend yield
- 0.00%
- ROE
- 12.8%
- Peers 18.0%
- ROCE
- 13.2%
- Peers 22.1%
- Debt to equity
- 0.18
- Debt ₹8.83 Cr
- EPS (TTM)
- ₹2.90
- OPM (TTM)
- 9.4%
- Net margin 6.4%
- Sales growth
- n/a
- Year-ago quarter not reported
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 2.54
- EV/EBITDA 22.8
Strengths and risks
Strengths and risks
Nothing stands out either way in the headline numbers.
About Accord Transformer & Switchgear
Accord Transformer & Switchgear Limited engages in the design, engineering, testing, manufacturing, deployment, and supply of a diversified range of electrical power and distribution equipment in India. It offers transformers, including inverter duty, power, distribution, dry type, and ester oil transformers; high- and low-tension panels; and compact and skid mounted substations. The company was incorporated in 2014 and is headquartered in Manesar, India.
- Headquarters
- Manesar
- Employees
- 114
- Sector
- Industrials
- ISIN
- INE132201018
- Website
- atsgroup.in
Price range
- Avg volume (3M)
- 1.1 L
- 1-year return
- plus 64.7%
- From 52-week high
- minus 26.0%
Peers · Electrical Equipment & Parts
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| POWERINDIAHitachi Energy India | 27,800.00 | minus 1.42% | 1,23,911 | 107.7 | 95.3 | 24.9% | 16.1% | 0.02 | 22.2% | plus 37.9% |
| CGPOWERCG Power and Industrial Solutions | 773.00 | minus 4.43% | 1,21,785 | 88.6 | 72.5 | 19.3% | 13.1% | 0.02 | 21.2% | plus 8.2% |
| POLYCABPolycab India | 7,871.00 | plus 0.28% | 1,18,613 | 37.5 | 29.0 | 30.4% | 13.6% | 0.02 | 26.6% | plus 3.8% |
| HAVELLSHavells India | 1,128.00 | plus 5.61% | 70,789 | 42.6 | 30.0 | 22.1% | 9.1% | 0.02 | 9.9% | minus 28.1% |
| APARINDSApar Industries | 14,106.00 | minus 9.65% | 59,065 | 41.6 | 30.7 | 26.7% | 9.5% | 0.12 | 17.0% | plus 87.2% |
| KEIKEI Industries | 3,988.00 | minus 1.80% | 38,143 | 36.1 | 29.9 | 18.7% | 11.0% | 0.04 | 19.1% | plus 1.8% |
| HONAUTHoneywell Automation India | 30,080.00 | minus 0.79% | 26,613 | 47.0 | 35.7 | 15.7% | 13.8% | 0.02 | 10.9% | minus 17.5% |
| ACCORDTSAccord Transformer & Switchgear | 86.45 | plus 0.97% | 178 | 29.8 | 23.3 | 13.2% | 9.4% | 0.18 | 19.8% | plus 64.7% |
| Median of 7 peers | – | −1.42% | 70,789 | 42.6 | 30.7 | 22.1% | 13.1% | 0.02 | 19.1% | 3.8% |
Quarterly results
This company doesn’t report these figures in a format we can read yet.
Profit & loss
- Sales CAGR 3Y
- +19.8%
- Profit CAGR 3Y
- +72.4%
- ROE
- 12.8%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 40.8 | 48.5 | 79 | 70.1 | |
| – | +19.0% | +62.8% | minus 11.3% | |
| 39.2 | 45.8 | 69.8 | 63 | |
| 1.5 | 2.7 | 9.2 | 7.1 | |
| 3.8% | 5.7% | 11.6% | 10.1% | |
| 0.2 | −0.1 | 0 | 0.1 | |
| 0.2 | 0.4 | 0.5 | 0.5 | |
| 0.1 | 0.2 | 0.4 | 0.6 | |
| −0.2 | −0 | −0.3 | – | |
| 1.2 | 2.1 | 8 | 6.1 | |
| 27.9% | 24.9% | 25.5% | 25.6% | |
| 0.9 | 1.6 | 5.9 | 4.5 | |
| – | +83.0% | +269.9% | minus 24.2% | |
| 0.43 | 0.78 | 2.89 | – |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 0.3 | 0.3 | 0.3 | 20.6 | |
| 4.2 | 5.8 | 21.2 | 28.3 | |
| 2.3 | 9.1 | 17.6 | 8.9 | |
| 9.1 | 11.3 | 20.8 | 25.8 | |
| 15.8 | 26.5 | 59.9 | 83.7 | |
| 2.7 | 4.8 | 7.1 | 7.7 | |
| – | 1.7 | – | – | |
| 1.2 | 0.7 | 1.3 | 22.3 | |
| 12 | 19.2 | 51.6 | 53.6 | |
| 15.8 | 26.5 | 59.9 | 83.7 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1.9 | −4.9 | −8.2 | 8.7 | |
| −0.1 | −2.3 | −3.4 | −9 | |
| −1 | 6.5 | 11.5 | 13.7 | |
| 0.8 | −0.8 | −0 | 13.4 | |
| −0.4 | −2.3 | −3.1 | −1.5 | |
| 1.5 | −7.3 | −11.3 | 7.2 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders. Institutions hold about 1.2% (Yahoo estimate).
Major shareholders
Filings & events
News
No recent news coverage found.