PTC India Limited (IN:PTC)
:PTC
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PTC India Limited
(PTC)
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Rating:74Outperform
Price Target:
₹220.00
▲(32.49% Upside)
Action:Reiterated
Date:05/21/26
The score is driven mainly by strong cash-flow resilience and a significantly improved balance sheet, supported by attractive valuation (low P/E and high dividend yield). The key offset is weaker FY2026 profitability (margin compression), while technicals are constructive longer-term but show a mild short-term pullback.
Positive Factors
Strong cash generation
Consistent operating and free cash flow (FCF ~100% of net income) and a 25% FCF rebound in FY2026 underpin durable earnings quality. This cash conversion supports reinvestment, dividend capacity, and buffers against trading counterparties' payment cycles, strengthening long-term resilience.
Negative Factors
Margin compression
Sustained margin compression reduces profitability per unit of traded volume and constrains return on equity even as leverage improves. For a spread-driven trading model, lower spreads or higher costs can persistently erode earnings power and limit the company's ability to generate excess returns or expand margins in the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Consistent operating and free cash flow (FCF ~100% of net income) and a 25% FCF rebound in FY2026 underpin durable earnings quality. This cash conversion supports reinvestment, dividend capacity, and buffers against trading counterparties' payment cycles, strengthening long-term resilience.
Read all positive factors
PTC India Limited (PTC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹54.78B
Dividend Yield7.35%
Average Volume (3M)61.69K
Price to Earnings (P/E)8.9
Beta (1Y)1.09
Revenue Growth6.40%
EPS Growth-32.72%
CountryIN
Employees108
SectorServices
Sector StrengthN/A
IndustryIndependent Power Producers
Share Statistics
EPS (TTM)30.24
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)14.3
Revenue Forecast (FY)₹170.55B
PTC India Limited Business Overview & Revenue Model
Company Description
PTC India Limited, together with its subsidiaries, engages in the trading of power in India, Nepal, Bhutan, and Bangladesh. The company engages in long term, medium term, and short-term power trading activities, as well as cross border power tradi...
How the Company Makes Money
PTC makes money primarily by acting as an intermediary in electricity transactions and earning trading-related income tied to the volumes of power it contracts and facilitates. Its key revenue stream is electricity trading: PTC enters into arrange...
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 | 156.90B | 167.71B | 162.41B | 167.83B | 153.04B | 163.19B |
| Gross Profit | 9.54B | 8.60B | 12.41B | 13.75B | 11.06B | 14.85B |
| EBITDA | 15.73B | 7.33B | 14.72B | 10.87B | 11.33B | 15.96B |
| Net Income | 8.95B | 6.06B | 9.00B | 4.77B | 4.46B | 5.06B |
Balance Sheet | ||||||
| Total Assets | 135.20B | 126.31B | 129.16B | 151.23B | 166.30B | 198.82B |
| Cash, Cash Equivalents and Short-Term Investments | 55.82B | 46.71B | 34.35B | 21.52B | 18.26B | 21.64B |
| Total Debt | 22.64B | 17.69B | 29.62B | 43.27B | 65.46B | 97.71B |
| Total Liabilities | 66.32B | 55.72B | 61.47B | 90.93B | 107.56B | 143.66B |
| Stockholders Equity | 58.45B | 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
Negative
166.05
Price Trends
187.53
Negative
176.27
Positive
170.80
Positive
Market Momentum
-2.06
Positive
41.02
Neutral
23.21
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PTC, the sentiment is Negative. The current price of 166.05 is below the 20-day moving average (MA) of 201.44, below the 50-day MA of 187.53, and below the 200-day MA of 170.80, indicating a neutral trend. The MACD of -2.06 indicates Positive momentum. The RSI at 41.02 is Neutral, neither overbought nor oversold. The STOCH value of 23.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹54.78B | 8.94 | ― | 7.35% | 6.40% | -32.72% | |
65 Neutral | ₹3.56T | 10.50 | ― | 2.66% | -0.38% | 15.48% | |
65 Neutral | ₹4.48T | 34.61 | ― | ― | -1.75% | -0.81% | |
57 Neutral | ₹723.66B | 30.05 | ― | 1.48% | -0.68% | -21.43% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
55 Neutral | ₹1.06T | 46.18 | ― | 0.41% | 60.92% | 14.55% | |
51 Neutral | ₹1.32T | 34.99 | ― | 0.59% | -4.66% | -5.61% |
* Services Sector Average
IN:PTC
PTC India Limited
183.10
18.25
11.07%
IN:ADANIPOWER
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IN:JSWENERGY
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589.95
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IN:NTPC
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366.35
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IN:TATAPOWER
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IN:TORNTPOWER
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1,441.55
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3.42%
PTC India Limited Corporate Events
NTPC Confirms No Encumbrance on Its Shareholding in PTC India for FY 2025-26
Apr 8, 2026
NTPC Limited, a major shareholder in PTC India Limited, has informed the stock exchanges that it, along with persons acting in concert, has not created any encumbrance on its shareholding in PTC India for the financial year 2025-26. This confirmat...
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.