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PTC India Limited
(PTC)
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Rating:74Outperform
Price Target:
₹197.00
▲(19.76% 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
Cash Generation
Consistent operating and free cash flow (FCF roughly equal to net income) underpins earnings quality and funds capital needs without reliance on external financing. Over the next 2–6 months this durable cash generation supports dividend capacity, working capital needs for trading, and selective investments in market services.
Negative Factors
Margin Compression
Sustained compression in gross and operating margins reduces intrinsic earnings power from trading spreads. If lower spreads persist, PTC's ability to convert volumes into profits and fund growth or shareholder returns will be constrained, making the business more sensitive to volume shifts and cost pressures.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash Generation
Consistent operating and free cash flow (FCF roughly equal to net income) underpins earnings quality and funds capital needs without reliance on external financing. Over the next 2–6 months this durable cash generation supports dividend capacity, working capital needs for trading, and selective investments in market services.
Read all positive factors
PTC India Limited (PTC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹51.96B
Dividend Yield5.53%
Average Volume (3M)61.69K
Price to Earnings (P/E)8.6
Beta (1Y)1.12
Revenue Growth6.40%
EPS Growth-32.72%
CountryIN
Employees108
SectorGeneral
Sector StrengthN/A
IndustryIndependent Power Producers
Share Statistics
EPS (TTM)20.46
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)14.4
Revenue Forecast (FY)₹170.86B
PTC India Limited Business Overview & Revenue Model
Company Description
PTC India Limited, operating alongside its various subsidiaries, is actively engaged in the commerce of electricity throughout India, Nepal, Bhutan, and Bangladesh, including international cross-border transactions. The company manages power deals...
How the Company Makes Money
PTC makes money mainly through its role as a power trading intermediary and from related service activities.
1) Electricity trading margins/fees: PTC facilitates short-, medium-, and longer-tenure power purchase arrangements by sourcing electrici...
PTC India Limited Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
72
Positive
Cash Flow
83
Very Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 167.71B | 162.41B | 167.83B | 153.04B | 163.19B |
| Gross Profit | 8.60B | 12.41B | 13.75B | 11.06B | 14.85B |
| EBITDA | 7.33B | 14.72B | 10.87B | 11.33B | 15.96B |
| Net Income | 6.06B | 9.00B | 4.77B | 4.46B | 5.06B |
Balance Sheet | |||||
| Total Assets | 126.31B | 129.16B | 151.23B | 166.30B | 198.82B |
| Cash, Cash Equivalents and Short-Term Investments | 46.71B | 34.35B | 21.52B | 18.26B | 21.64B |
| Total Debt | 17.69B | 29.62B | 43.27B | 65.46B | 97.71B |
| Total Liabilities | 55.72B | 61.47B | 90.93B | 107.56B | 143.66B |
| Stockholders Equity | 59.81B | 58.05B | 51.42B | 50.19B | 47.23B |
Cash Flow | |||||
| Free Cash Flow | 27.99B | 17.92B | 24.48B | 35.74B | 30.39B |
| Operating Cash Flow | 28.03B | 17.98B | 24.51B | 35.75B | 30.49B |
| Investing Cash Flow | -11.20B | 8.78B | -5.04B | 1.68B | 461.20M |
| Financing Cash Flow | -31.17B | -18.17B | -20.42B | -40.19B | -27.88B |
PTC India Limited Technical Analysis
Positive
164.50
Price Trends
180.12
Positive
182.76
Positive
172.42
Positive
Market Momentum
4.34
Negative
75.93
Negative
96.58
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PTC, the sentiment is Positive. The current price of 164.5 is below the 20-day moving average (MA) of 175.61, below the 50-day MA of 180.12, and below the 200-day MA of 172.42, indicating a bullish trend. The MACD of 4.34 indicates Negative momentum. The RSI at 75.93 is Negative, neither overbought nor oversold. The STOCH value of 96.58 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 | ₹51.96B | 8.58 | ― | 5.90% | 6.40% | -32.72% | |
65 Neutral | ₹3.37T | 12.13 | ― | 2.55% | 2.36% | 15.86% | |
57 Neutral | ₹712.12B | 29.47 | ― | 1.39% | -0.68% | -21.42% | |
56 Neutral | ₹4.07T | 28.59 | ― | ― | 1.22% | 14.86% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹1.02T | 49.52 | ― | 0.36% | 35.37% | -10.03% | |
51 Neutral | ₹1.22T | 31.46 | ― | 0.67% | -4.19% | -4.84% |
* General Sector Average
IN:PTC
PTC India Limited
203.15
28.41
16.26%
IN:ADANIPOWER
Adani Power Limited
208.25
89.51
75.38%
IN:JSWENERGY
JSW Energy Limited
566.30
33.21
6.23%
IN:NTPC
NTPC Limited
345.00
17.40
5.31%
IN:TATAPOWER
Tata Power Company Limited
381.00
-1.13
-0.30%
IN:TORNTPOWER
Torrent Power Limited
1,346.20
19.59
1.48%
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.