PTC India (PTC) had a P/E of 8.1× on 6 Nov 2026, below the industry P/E of 21.6×, and the shares are 39% below their 52-week high. Sales and net profit grew 2.9% and 11% a year over 3 years, with ROCE of 14% and ROE of 7.8%. Debt is 0.22× equity, and its dividend yield is 7.9%. It is a small-cap company with a market cap of ₹4,128 Cr, ranked 9th of 15 Utilities (Independent Power Producers) companies by market cap; the shares fell 15% over the past year.
- ₹141.30
- ₹141.30
- ₹138.51
- ₹141.38
- 8.8 L
Health check
- ReturnsBehind
−15.2% over a year, better than 1 of 7 peers.
- Price tagCheaper
P/E 8.1 vs industry 21.6.
- GrowthSlow
Sales +2.9%, profit +10.8% a year over 3 years.
- ProfitabilityAverage
ROCE 14.2% vs peer median 8.4%.
- Balance sheetFair
Debt 0.22× equity, interest covered 3.1×.
- Red flags3 to check
Return on equity is low at 7.8%.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹4,128 Cr
- Small cap
- P/E
- 8.1
- Industry 21.6
- Price to book
- 0.77
- Peers 2.85
- Dividend yield
- 7.89%
- ROE
- 7.8%
- Peers 10.0%
- ROCE
- 14.2%
- Peers 8.4%
- Debt to equity
- 0.22
- Debt ₹1,421 Cr
- EPS (TTM)
- ₹17.18
- Face value ₹10
- OPM (TTM)
- 3.9%
- Net margin 2.6%
- Sales growth
- +19.0%
- Latest quarter vs a year ago
- Profit growth
- −49.8%
- Latest quarter vs a year ago
- Price to sales
- 0.23
- EV/EBITDA 3.6
Strengths and risks
Strengths
- Dividend yield of 7.89%.
- Quarterly sales up 19.0% on a year ago.
- P/E of 8.1 against an industry P/E of 21.6.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Return on equity is low at 7.8%.
- Quarterly profit down 49.8% on a year ago.
- 39% below its 52-week high.
About PTC India
PTC India Limited, together with its subsidiaries, engages in the trading and generating power in India, Nepal, Bhutan, and Bangladesh. The company operates through two segments, Power and Financing Business. It engages in long term, medium term, and short-term power trading activities; and cross border power trading business. The company provides financing solutions to the energy value chain, including investing in equity or extending debt to power…
- Headquarters
- New Delhi
- Employees
- 109
- Sector
- Utilities
- ISIN
- INE877F01012
- Website
- ptcindia.com
Price range
- Avg volume (3M)
- 15.5 L
- 1-year return
- minus 15.2%
- From 52-week high
- minus 39.2%
Peers · Utilities - Independent Power Producers
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ADANIPOWERAdani Power | 204.29 | plus 0.14% | 3,93,967 | 21.6 | 22.0 | 15.1% | 38.7% | 0.80 | 12.5% | plus 28.8% |
| ADANIENSOLAdani Energy Solutions | 1,457.40 | plus 0.74% | 1,78,233 | 47.2 | 24.3 | 8.4% | 31.2% | 1.70 | 27.7% | plus 46.7% |
| TATAPOWERTata Power Co. | 352.50 | minus 3.31% | 1,12,636 | 29.2 | 14.0 | 8.5% | 20.4% | 1.68 | 4.1% | minus 9.0% |
| JSWENERGYJSW Energy | 524.95 | plus 0.31% | 96,224 | 41.3 | 15.9 | 7.3% | 53.4% | 2.07 | 23.5% | minus 0.9% |
| TORNTPOWERTorrent Power | 1,271.10 | plus 0.45% | 64,051 | 26.5 | 13.3 | 11.9% | 19.2% | 1.08 | 4.0% | minus 3.0% |
| VEDPOWERVedanta Power | 35.33 | minus 3.07% | 13,793 | – | 19.0 | −7.7% | 13.9% | 0.65 | 15.7% | minus 13.7% |
| JPPOWERJaiprakash Power Ventures | 13.86 | minus 0.29% | 9,499 | 25.2 | 8.8 | 6.7% | 29.3% | 0.23 | −1.3% | minus 22.3% |
| PTCPTC India | 139.45 | minus 1.37% | 4,128 | 8.1 | – | – | 4.8% | 0.22 | – | minus 15.2% |
| Median of 7 peers | – | 0.14% | 96,224 | 27.8 | 15.9 | 8.4% | 29.3% | 1.08 | 12.5% | −3.0% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 3,976 | 5,421 | 3,364 | 3,860 | 4,731 | |
| 3,770 | 5,203 | 3,202 | 3,715 | 4,584 | |
| 207 | 219 | 161 | 145 | 147 | |
| 5.2% | 4.0% | 4.8% | 3.8% | 3.1% | |
| 133 | 84.2 | 69.3 | 74.6 | 57.9 | |
| 130 | 58.9 | 61.4 | 53 | 55 | |
| 2.4 | 2.6 | 2.7 | 2.7 | 2.4 | |
| 81.6 | 56.9 | 8.3 | −0.1 | 3.8 | |
| 289 | 298 | 175 | 164 | 151 | |
| 15.9% | 25.5% | 25.0% | 26.0% | 25.8% | |
| 195 | 191 | 114 | 105 | 98 | |
| 6.59 | 6.46 | 3.85 | 3.56 | 3.31 |
Profit & loss
- Sales CAGR 3Y
- +2.9%
- Profit CAGR 3Y
- +10.8%
- EPS CAGR 3Y
- +10.8%
- ROE
- 7.8%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 15,304 | 16,499 | 15,596 | 16,666 | |
| – | +7.8% | minus 5.5% | +6.9% | |
| 14,142 | 15,315 | 14,760 | 15,958 | |
| 1,162 | 1,184 | 836 | 708 | |
| 7.6% | 7.2% | 5.4% | 4.2% | |
| 48.6 | 71.6 | 364 | 326 | |
| 462 | 423 | 349 | 226 | |
| 9.9 | 10 | 9.3 | 10.3 | |
| −84.9 | −168 | 275 | 129 | |
| 653 | 654 | 1,117 | 926 | |
| 25.8% | 26.0% | 23.6% | 22.5% | |
| 446 | 477 | 900 | 606 | |
| – | +7.0% | +88.8% | minus 32.7% | |
| 15.05 | 16.11 | 30.41 | 20.46 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 296 | 296 | 296 | 296 | |
| 4,723 | 4,846 | 5,509 | 5,685 | |
| 6,546 | 4,327 | 2,962 | 1,769 | |
| 5,065 | 5,654 | 4,148 | 4,881 | |
| 16,630 | 15,123 | 12,916 | 12,631 | |
| 1,616 | 42.8 | 37.2 | 30 | |
| 0.1 | 0 | 0.1 | 0.3 | |
| 312 | 221 | 201 | 175 | |
| 1,826 | 2,152 | 3,342 | 4,585 | |
| 12,875 | 12,707 | 9,335 | 7,840 | |
| 16,630 | 15,123 | 12,916 | 12,631 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 3,575 | 2,451 | 1,864 | 2,817 | |
| 168 | −504 | 1,454 | −824 | |
| −4,019 | −2,042 | −2,459 | −3,428 | |
| −276 | −111 | 850 | −1,434 | |
| −1.8 | −2.9 | −5.5 | −4.3 | |
| 3,573 | 2,448 | 1,858 | 2,813 | |
| −172 | −253 | −231 | −435 |
Shareholding pattern
NSE hasn’t returned a shareholding pattern for this company. Institutions hold about 24.9% (Yahoo estimate).
Major shareholders
Filings & events
News
No recent news coverage found.