About the company -
Indo Tech Transformers Ltd was, established in 1976 is one of the leading transformer manufacturing Companies situated in Southern India having manufacturing facilities at Kancheepuram in Tamil Nadu. Over 56000 Transformers of different ratings up to 245 KV are in service in various Substations and Industries across India and around the world.
The Company’s facilities are established keeping in mind the best available infrastructure and with state of the art equipment’s for manufacturing and testing. The Extra High Voltage (EHV) transformers facility is totally dust free to enable manufacture transformers under very sterile conditions. The testing lab accredited by NABL equipped to carry out all routine and special tests as required by various national and international standards.
Indo Tech Transformers Limited is engaged in the business of manufacturing Power, Distribution, Invertor, Convertor special application transformers, catering to various industries like Transmission, Generation, Hydro, Wind, Solar, Steel, Cement, Textiles, Utilities, DESCOMS etc.
Among our clients are some of the renowned companies like TNEB, NTPC, ADANI, L & T, ABB, SIEMENS NLC, VESTAS, DVC, GAMESA, BGR, SUZLON, TATA PROJECTS, KEC INTERNATIONAL, REGEN POWER TECH, RELIANCE, WALCHAND, TKIS, DOOSAN, GE etc. and leading Hotels, Hospitals, Steel and Cement Plants etc. Our transformers are in service at many Ferrous and Non-Ferrous metal industries throughout the country. Some of our main customers include companies like JSW steel, Jindal Steel and Power, BALCO, Jayaswal Neco Industries etc. Additionally, we have served industrial clients through various leading electrical consultants like M.N. Dastur & Co, EIL, Mecon, Fichtner, PGCIL, Avant Garde, TCE etc. We are also approved by leading Inspecting Agencies like RITES, LLOYDS, CPRI, BUREAU VERITAS, TUV, SGS etc. (1)
Promoter Change
In Sept 2020, Shirdi Sai Electricals Ltd (SSEL) acquired 69.3% stake in the Co from Prolec GE Internacional, the erstwhile promoter. Consequent to the change in controlling stake from Prolec GE to SSEL, the Co has entered into a Transitional Trademark License Agreement for using the brand name “PROLEC” and shall pay 2.5% of the turnover as royalty for the brand usage to Prolec GE Internacional. [2]
| Narration | Mar-14 | Mar-15 | Mar-16 | Mar-17 | Mar-18 | Mar-19 | Mar-20 | Mar-21 | Mar-22 | Mar-23 | Trailing | Best Case | Worst Case |
| Sales | 93.86 | 156.91 | 189.87 | 148.81 | 220.17 | 213.39 | 205.33 | 206.00 | 280.07 | 370.90 | 417.32 | 491.19 | 412.79 |
| Expenses | 108.83 | 166.39 | 190.80 | 151.74 | 221.37 | 215.47 | 203.43 | 194.72 | 257.96 | 334.57 | 373.19 | 439.25 | 398.61 |
| Operating Profit | -14.97 | -9.48 | -0.93 | -2.93 | -1.20 | -2.08 | 1.90 | 11.28 | 22.11 | 36.33 | 44.13 | 51.94 | 14.18 |
| Other Income | 10.89 | 16.69 | 12.76 | 1.79 | 4.55 | 1.24 | 5.42 | 2.92 | 1.69 | 2.66 | 4.27 | - | - |
| Depreciation | 2.99 | 5.18 | 5.35 | 4.82 | 4.74 | 5.19 | 4.79 | 4.82 | 4.52 | 4.82 | 5.31 | 5.31 | 5.31 |
| Interest | 11.73 | 5.77 | 2.45 | 3.11 | 2.30 | 2.36 | 2.43 | 3.02 | 6.80 | 8.47 | 3.79 | 3.79 | 3.79 |
| Profit before tax | -18.80 | -3.74 | 4.03 | -9.07 | -3.69 | -8.39 | 0.10 | 6.36 | 12.48 | 25.70 | 39.30 | 42.84 | 5.08 |
| Tax | - | - | - | 2.21 | - | - | -1.82 | 0.07 | 0.29 | - | 5.55 | 14% | 14% |
| Net profit | -18.80 | -3.74 | 4.02 | -11.27 | -3.69 | -8.39 | 1.92 | 6.29 | 12.19 | 25.70 | 33.75 | 36.79 | 4.36 |
| EPS | -17.74 | -3.53 | 3.79 | -10.63 | -3.48 | -7.92 | 1.81 | 5.93 | 11.50 | 24.25 | 31.78 | 34.64 | 4.11 |
| Price to earning | -3.38 | -49.44 | 49.62 | -19.50 | -48.45 | -13.19 | 40.30 | 14.55 | 18.84 | 7.09 | 29.87 | 29.87 | 17.59 |
| Price | 59.90 | 174.45 | 188.20 | 207.35 | 168.65 | 104.40 | 73.00 | 86.35 | 216.70 | 171.95 | 949.30 | 1,034.84 | 72.22 |
| RATIOS: | |||||||||||||
| Dividend Payout | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |||
| OPM | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.93% | 5.48% | 7.89% | 9.80% | 10.57% | ||
| TRENDS: | 10 YEARS | 7 YEARS | 5 YEARS | 3 YEARS | RECENT | BEST | WORST | ||||||
| Sales Growth | 16.50% | 10.04% | 10.99% | 21.79% | 32.43% | 32.43% | 10.04% | ||||||
| OPM | 3.43% | 4.35% | 5.61% | 8.14% | 10.57% | 10.57% | 3.43% | ||||||
| Price to Earning | 26.71 | 22.13 | 22.13 | 17.59 | 29.87 | 29.87 | 17.59 |
Risks
High client concertation risk
Stiff industry competition
Volatility in raw material prices
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