India Power Corp. Ltd. (DPSCLTD) AI Stock Analysis

• Market Cap: ₹9.33B
• Dividend Yield: 0.5%
• Average Volume (3M): 146.93K
• Price to Earnings (P/E): 122.7
• Beta (1Y): 1.34
• Revenue Growth: 4.29%
• EPS Growth: -57.25%
• Country: IN
• Employees: 396
• Sector: Utilities
• Sector Strength: 65
• Industry: Regulated Electric
• EPS (TTM): 0.04
• Shares Outstanding: 973,789,600
• 10 Day Avg. Volume: 117,383
• 30 Day Avg. Volume: 146,931
• PEG Ratio: -2.85
• Price to Book (P/B): 1.36
• Price to Sales (P/S): 1.93
• P/FCF Ratio: 19.61
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 49 Neutral
• Price Target: ₹9.50 ▼(-5.28% Downside)

India Power Corp. Ltd. faces challenges with its financial performance, particularly in profitability and revenue growth. Technical analysis indicates bearish momentum, with the stock being oversold. The high P/E ratio suggests overvaluation, and the low dividend yield offers limited income potential. These factors contribute to a cautious outlook on the stock.

Positive Factors

Reduced Leverage

A declining debt-to-equity trend indicates improving financial stability and lower interest burden. That enhanced balance sheet flexibility supports longer-term capital allocation for plant maintenance, renewable projects and grid investments, and reduces refinancing risk over a multi-month horizon.

Stable Operating Cash Generation

A steady operating cash flow-to-net income ratio shows the core power business reliably converts earnings into cash. Sustainable cash generation underpins debt servicing, routine capex and working capital needs, giving the company resilience to fund operations and strategic investments over the coming months.

Diversified Power Business

Exposure across generation, transmission, distribution, renewables and trading creates multiple, complementary revenue streams. This structural diversification reduces reliance on any single segment or contract, improving long-term revenue stability as India's energy demand and renewables rollout progress.

Negative Factors

Eroding Profitability Margins

Sustained declines in gross and net margins point to rising fuel or operating costs, pricing pressure, or inefficiencies. Continued margin erosion would weaken the company's ability to self-fund capex, service debt and generate shareholder returns, requiring structural cost or pricing remediation.

Erratic Free Cash Flow

Inconsistent free cash flow growth and poor conversion of accounting profits to cash suggest capital efficiency and working capital volatility. Over months this hampers sustained reinvestment capacity, restricts deleveraging or dividend reliability, and increases reliance on external funding.

Weakening Capitalization & ROE Pressure

A falling equity ratio and pressured ROE indicate weakening capitalization and lower shareholder returns. Persisting this trend raises solvency concerns and could limit access to low-cost capital, constraining strategic investments and undermining financial flexibility over the medium term.

India Power Corp. Ltd. Business Overview & Revenue Model

Company Description

India Power Corporation Limited, together with its subsidiaries, generates and distributes electricity in India. It operates 35.2 MW of wind assets in Gujarat and Karnataka; 2 MW of solar asset in West Bengal; and coal fired thermal power plants of 12 MW in Asansol, West Bengal. The company also has a distribution license of approximately 618 square kilometers in Asansol–Ranigunj area of West Bengal. It serves government utilities, hospitals, industries, mines, and commercial and domestic consumers. The company was formerly known as DPSC Limited and changed its name to India Power Corporation Limited in August 2013. India Power Corporation Limited was incorporated in 1919 and is headquartered in Kolkata, India.

How the Company Makes Money

India Power Corp. Ltd. generates revenue primarily through the sale of electricity to its customers, which includes industrial, commercial, and residential sectors. The company earns income by supplying power generated from its thermal power plants as well as from renewable energy sources like wind and solar. Additionally, revenue is supplemented through transmission and distribution services, where they charge fees for delivering electricity from power plants to end-users. The company may also engage in power trading, where it buys and sells electricity in the open market, further diversifying its revenue streams. Strategic partnerships with other energy firms and government entities can enhance its operational efficiency and market reach, contributing positively to its overall earnings.

India Power Corp. Ltd. Financial Statement Overview

Summary

India Power Corp. Ltd. shows mixed financial performance. While leverage has decreased, indicating improved stability, profitability and revenue growth are inconsistent. The company needs to enhance operational efficiencies and stabilize revenue streams.

Income Statement

India Power Corp. Ltd. shows mixed results in its income statement. The gross profit margin has decreased over the years, indicating rising costs or pricing challenges. The net profit margin has also been declining, affected by volatility in EBIT and EBITDA margins. Revenue growth is inconsistent, with fluctuations seen across the reporting periods, impacting overall profitability.

Balance Sheet

The balance sheet indicates moderate leverage with a debt-to-equity ratio that has decreased over time, suggesting improved financial stability. However, the equity ratio has been declining, which could pose a risk if liabilities continue to grow. Return on equity is also under pressure, reflecting challenges in generating returns for shareholders.

Cash Flow

Cash flow performance is somewhat positive, with a stable operating cash flow to net income ratio, indicating good cash generation from operations. However, free cash flow growth has been erratic, and the company's ability to convert net income to free cash flow is inconsistent, reflecting potential issues in capital efficiency.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.00B	6.20B	6.50B	6.23B	5.47B	5.10B
Gross Profit	80.96M	338.87M	1.54B	-18.26M	-201.47M	1.36B
EBITDA	289.00M	714.75M	880.38M	890.27M	830.35M	884.70M
Net Income	11.83M	70.30M	171.82M	158.36M	153.89M	262.06M
Balance Sheet
Total Assets	0.00	18.22B	20.59B	20.20B	22.98B	25.07B
Cash, Cash Equivalents and Short-Term Investments	407.00M	407.00M	205.96M	121.86M	46.34M	69.14M
Total Debt	0.00	1.56B	2.13B	2.82B	3.28B	2.99B
Total Liabilities	-8.80B	9.43B	10.43B	10.14B	9.30B	8.67B
Stockholders Equity	8.80B	8.80B	10.16B	10.06B	13.68B	16.40B
Cash Flow
Free Cash Flow	0.00	611.30M	716.81M	580.45M	-205.59M	95.25M
Operating Cash Flow	0.00	761.93M	846.53M	682.51M	-53.06M	326.53M
Investing Cash Flow	0.00	-97.49M	-178.88M	-5.50M	-109.37M	95.32M
Financing Cash Flow	0.00	-628.38M	-718.41M	-636.94M	152.89M	-844.20M

India Power Corp. Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 10.03
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DPSCLTD, the sentiment is Negative. The current price of 10.03 is above the 20-day moving average (MA) of 9.83, below the 50-day MA of 10.36, and below the 200-day MA of 12.07, indicating a bearish trend. The MACD of -0.26 indicates Positive momentum. The RSI at 35.84 is Neutral, neither overbought nor oversold. The STOCH value of 61.53 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:DPSCLTD.

India Power Corp. Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
POWERGRID	72 Outperform	₹2.40T	15.80	―	3.37%	0.80%	-3.25%
Sector *	66 Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
NHPC	65 Neutral	₹816.86B	25.76	―	2.44%	15.72%	6.45%
TATAPOWER	65 Neutral	₹1.17T	28.97	―	0.59%	4.06%	8.22%
GIPCL	59 Neutral	₹22.37B	11.86	―	2.60%	2.34%	-14.58%
RELINFRA	57 Neutral	₹60.74B	1.96	―	―	-10.55%	-5.08%
DPSCLTD	49 Neutral	₹9.33B	122.66	―	0.50%	4.29%	-57.25%