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Shareholding Info
  • Promoters
    58.42 %
  • Foreign institutions-FII
    2.61 %
  • Other domestic institutions
    0.57 %
  • Retail and other
    22.64 %
  • Mutual Funds
    15.76 %

TD Power overview

TD Power Systems Limited manufactures AC generators. The company primarily caters to businesses operating in the industrial sector, such as cement, steel, paper, chemicals, metals, biomass power plants and hydroelectric power plants, among others.

The company uses both in-house and licensed technology to manufacture products with an output range of 1 MW to 200 MW. It also supplies a range of special applications and custom-designed generators to corporations in over 72 countries.

The company’s wholly-owned subsidiary, DF Power Systems Private Limited, is in the business of Engineering, Procurement and Construction (EPC). It has an output capacity ranging between 20 MW and 150 MW.

TD Power Systems Limited has a market capitalisation of ₹1,994 crore. Its shares are publicly listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

TD Power journey

Listed below are TD Power Systems’ key milestones over the years:
  • 1999: On 16th April, the company gets officially incorporated as a private limited company under the Companies Act in Bangalore, Karnataka.
  • 2001: On 6th February, TD Power enters into a technical assistance license and transfer agreement with Toyo Denki, a Japanese manufacturer of power and electric equipment.
  • 2002: In July, the two companies ship the first 34 MW AC generator to Thailand
  • 2007: In July, the company grants a limited license to General Electric USA to manufacture generators using the company's design for the Central and South American markets. In August, TD Power dispatched the first 8 MW AC generator to Siemens Limited, Baroda. On 25th November, the company fulfilled its first overseas project in Uganda by supplying a 16.5 MW steam turbine plant.
  • 2008: On 22nd September, TD Power Systems purchases 3,50,000 equity shares of DF Power Systems Private Limited, making it a subsidiary.
  • 2009: The company forms a Product Development Cooperation and Manufacturing Agreement with Voith Hydro Holding GmbH & Co. KG.
  • 2010: TD Power enters into a manufacturing agreement with Toshiba Mitsubishi-Electric Industrial Systems Corporation.
  • 2011: The firm’s name is changed to TD Power Systems Limited by a special resolution passed by the members at an Extraordinary General Meeting.

TD Power - Initial Public Offer (IPO)

TD Power Systems Limited launched its IPO in August 2011. The price band was announced between ₹256 and ₹261 per share with a lot size of 25 shares. The issue price was fixed at ₹256 per share, aggregating to an issue size of ₹227 crore.

On 8th September 2011, the company’s shares were listed on the NSE and BSE at a high of ₹309 and a volume of ₹325 crore.

TD Power products

TD Power Systems Limited manufactures AC generators for multiple applications. Its roster of products includes:
  • Steam turbine generators:TD Power uses in-house technology to manufacture steam turbine generators up to 55 MW. It has a license agreement with Siemens AG to manufacture generators in the range of 55 MW to 200 MW.
  • Hydro turbine generators:It manufactures hydro turbine generators with an output capacity of up to 32 MW.
  • Diesel engine generators:The company manufactures diesel engine generators for installation at international airports, satellite research centers and data server farms.
  • Gas engine generators:The firm has developed its gas engine generators for application in its in-house technology.
  • Gas turbine generators:These generators are specifically designed for application in the oil and gas industries.
  • Wind turbine generators:TD Power entered into a production technology agreement with SICME-MOTORI ITALY in 2009 for the production of these generators.

TD Power business highlights

Here are TD Power Systems Limited’s key subsidiaries:

Name of subsidiary

Share in profit

TD Power Systems Limited 

(Parent company)


  DF Power Systems Private Limited


TD Power Systems USA Inc


TD Power Systems Japan Limited


TD Power Systems Europe



TD Power performance highlights

Revenue CAGR (3 years)


EBITDA (FY2021-22)

₹121 crore

Net Profit (FY2021-22)

₹54 crore

ROE (FY2021-22)


ROCE (FY2021-22)


Share price return (3 years)


TD Power management

  • Chairman and Non-Executive Sirector: Mohib N. Khericha
  • Managing Director: Nikhil Kumar
  • Director: K. G. Prabhakar
  • Chief Financial Officer: M. N. Varalakshmi

Electrical equipment industry overview


Top electrical equipment companies

Market capitalisation 

December 2022

(in crore) 


Siemens AG



Havells India Limited



ABB India Limited



CG Power and Industrial Solutions Limited



TD Power Systems Limited


Size of the Indian electrical equipment industry

The Indian electrical equipment industry is closely linked to the power capacity of the country. India is the third largest producer and consumer of electricity worldwide. In FY2020-21, the total electricity generation stood at 15.73 lakh GWh.

The industry is estimated to have grown by 20-25% in FY2021-22. The aggregate gross revenue generated by this sector grew by 35.64% from ₹79,513 crore in FY2020-21 to ₹1,07,853 crore in FY2021-22. Similarly, the industry’s operating profits surged by 30.87% from ₹9,477 crore recorded in FY2020-21 to ₹12,402 crore in FY2021-22.

Industry growth prospects

The Indian electrical equipment market share is expected to grow by USD 33.74 billion from 2021 to 2025 at a CAGR of 9%. More than 33% of this growth is expected to come from the domestic wires and cables market. Other products like generators, boilers, transformers and transmission lines will likely account for the remaining share.

The rising demand for residential units and increasing investments in infrastructural development activities will be key drivers of this sector’s growth. Furthermore, cross-border electricity trading with countries including Bangladesh, Nepal and Myanmar will likely fuel the demand for electrical equipment further.

TD Power growth prospects

  • TD Power Systems Limited plans to expand its market share by selling its products to global OEMs manufacturing prime movers in countries including Japan, Germany, Austria and Italy.
  • The company expects a surge in exports in the gas engine and steam turbine segments.

Risks and concerns

  • This sector is prone to cyberattacks that target IT systems, rendering the infrastructure ineffective and damaging electrical equipment.
  • TD Power Systems Limited could face challenges in keeping up with demand as competition continues to rise.
  • Due to the struggling economy and the ongoing Russia-Ukraine crisis, European corporations may reduce foreign investments.


TD Power Systems Limited
Tel: + 91-80-2299 5700/6633 7700
Fax: + 91-80-7734 439/2299 571
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