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10 Yrs X-Ray 
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About
Powerica Ltd (POWERICA)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544744 NSE: POWERICA Electric Equipment | Small Cap | Powerica Share Price
₹581.80 17.95 (3.18%)
As on 25-Sep'26 16:59
Powerica Ltd (POWERICA)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544744 NSE: POWERICA Electric Equipment | Small Cap | Powerica Share Price
₹581.80 17.95 (3.18%)
As on 25-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹7,363 Cr.
Current Price
₹581.8
52-Week Low / High
₹365 / 675
TTM EPS
₹21.1
TTM Sales
₹3,012 Cr.
Book Value per Share
₹217
P/E Ratio
27.55
Industry PE
53.2
Price to Book (P/B)
2.68
Price to Sales (P/S)
2.44
EV/EBITDA
16.62
Dividend Yield
0.47%
Profitability Efficiency
Return on Equity (ROE)
18.03%
Outperforms industry median
Return on Capital Employed (ROCE)
15.89%
In line with industry median
Return on Assets (ROA)
8.74%
Operating Profit Margin
12.5%
Net Profit Margin
9.21%
Gross Profit Margin
13.1%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
3.94%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
11.69%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
61.05%
Asset Quality
Promoter Holding
77.18%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹2,683 Cr.
Equity
₹63.3 Cr.
Face Value
₹5
All Time Low / High
₹365.10 / 675.00
Check Before You Invest
Quality
Somewhat GoodValuation
OvervaluedCheck Valuation charts
Price Trend
Strong
Is Powerica Ltd a good quality company?
Powerica Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Powerica Ltd performance compare with that of its Peers?
Revenue growth of Powerica Ltd vs industry peers?
Powerica Ltd revenue CAGR is 18.17%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Powerica Ltd?
Promoters hold 77.18% of the Powerica Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Powerica Ltd over the last decade?
Over the last - year(s), the stock has delivered a CAGR of N/A% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Powerica Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 14.5% | 12.2% | 9.3% | 8.4% | 4.6% | 9.5% | 23.1% | 33.8% | 20.4% | 11.8% | - |
| Value Creation Index ⓘ | 0.0 | -0.1 | -0.3 | -0.4 | -0.7 | -0.3 | 0.7 | 1.4 | 0.5 | -0.2 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 1,307 | 1,238 | 1,324 | 1,244 | 890 | 1,488 | 2,355 | 2,195 | 2,496 | 2,594 | 2,594 |
| Sales YoY Gr. | - | -5.3% | 7% | -6.1% | -28.4% | 67.1% | 58.3% | -6.8% | 13.7% | 3.9% | - |
| Adj EPS ⓘ | 0.8 | 0.5 | 4 | 3.3 | -2.1 | 1.1 | 7.5 | 15 | 11.9 | 15.7 | 15.9 |
| YoY Gr. | - | -30.8% | 646.3% | -18.6% | -163.4% | NA | 554.4% | 100.9% | -20.4% | 31.7% | - |
| BVPS (₹) ⓘ | 5.5 | 6.1 | 64.1 | 67.3 | 54.3 | 51.6 | 59.9 | 83.2 | 96.1 | 148.8 | 208.2 |
| Adj Net Profit ⓘ | 119 | 82.9 | 61.5 | 49.9 | -28.8 | 15.3 | 99.7 | 163 | 130 | 199 | 202 |
| Cash Flow from Ops. ⓘ | 213 | 122 | 139 | 169 | 220 | 229 | 265 | 294 | 205 | 380 | - |
| Debt/CF from Ops. ⓘ | 0.9 | 0.5 | 0.1 | 1.1 | 1.8 | 1.7 | 1.1 | 0.6 | 1.5 | 1.5 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 7.9% | 23.9% | 3.3% | 3.9% | ||||
| Adj EPS ⓘ | 39.6% | NA | 28.2% | 31.7% | ||||
| BVPSⓘ | 44.3% | 22.3% | 35.4% | 54.8% | ||||
| Share Price | - | - | - | - | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 14.7 | 9.4 | 6.4 | 5 | -3.2 | 2.1 | 13.4 | 19.1 | 13.3 | 13.6 | 8.9 |
| Op. Profit Mgn % ⓘ | 15.8 | 14.5 | 12.1 | 13.8 | 14.6 | 12.5 | 14.4 | 16.6 | 12 | 11.2 | 11.7 |
| Net Profit Mgn % ⓘ | 9.1 | 6.7 | 4.6 | 4 | -3.2 | 1 | 4.2 | 7.4 | 5.2 | 7.7 | 7.8 |
| Debt to Equity ⓘ | 0.2 | 0.1 | 0 | 0.2 | 0.5 | 0.6 | 0.4 | 0.2 | 0.3 | 0.3 | - |
| Working Cap Days ⓘ | 104 | 112 | 121 | 146 | 216 | 145 | 99 | 110 | 107 | 131 | 65 |
| Cash Conv. Cycle ⓘ | 33 | 40 | 39 | 51 | 60 | 25 | 23 | 34 | 40 | 39 | 28 |
Valuation of Powerica - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'10 | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 822 | 1,157 | 1,023 | 1,200 | 1,307 | 1,238 | 2,378 | 2,210 | 2,653 | 3,012 |
| Operating Expenses ⓘ + | 699 | 1,024 | 875 | 1,006 | 1,101 | 1,058 | 2,031 | 1,848 | 2,317 | 2,636 |
| Operating Profit ⓘ | 123 | 133 | 147 | 195 | 206 | 179 | 347 | 362 | 336 | 376 |
| Operating Profit Margin (%) | 15.0% | 11.5% | 14.4% | 16.2% | 15.8% | 14.5% | 14.6% | 16.4% | 12.7% | 12.5% |
| Other Income ⓘ + | 43 | 29 | 33 | 19 | 35 | 33 | 44 | 147 | 58 | 43 |
| Interest ⓘ | 1 | 8 | 20 | 26 | 22 | 10 | 56 | 41 | 33 | 25 |
| Depreciation ⓘ | 24 | 92 | 90 | 99 | 89 | 89 | 136 | 128 | 116 | 117 |
| Profit Before Tax ⓘ | 142 | 62 | 71 | 88 | 129 | 113 | 186 | 341 | 253 | 287 |
| Tax ⓘ | 37 | 16 | -3 | 21 | 9 | 14 | 79 | 115 | 81 | 10 |
| Profit After Tax | 105 | 46 | 73 | 67 | 121 | 99 | 106 | 226 | 172 | 277 |
| PAT Margin (%) | 12.8% | 4.0% | 7.2% | 5.6% | 9.2% | 8.0% | 4.5% | 10.2% | 6.5% | 9.2% |
| Adjusted EPS (₹) | 0.6 | 0.2 | 0.4 | 0.4 | 0.8 | 0.7 | 8.0 | 20.8 | 15.0 | 21.1 |
| Dividend Payout Ratio (%) | 19.80% | 41% | 34.60% | 62.50% | 0% | 0% | 0% | 0% | 0% | 13% |
| PARTICULARS | Mar'10 | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 598 | 816 | 762 | 779 | 833 | 933 | 795 | 912 | 1,085 | 1,991 | |
| Debt + | 0 | 250 | 281 | 98 | 140 | 34 | 57 | 136 | 239 | 490 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 9 | 16 | |
| Trade Payables | 136 | 102 | 115 | 156 | 126 | 145 | 235 | 305 | 264 | 387 | |
| Others Liabilities ⓘ | 129 | 293 | 287 | 442 | 266 | 157 | 1,039 | 732 | 819 | 1,047 | |
| Total Liabilities ⓘ | 864 | 1,462 | 1,446 | 1,475 | 1,365 | 1,269 | 2,126 | 2,085 | 2,415 | 3,931 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 296 | 615 | 823 | 738 | 753 | 674 | 1,091 | 951 | 865 | 1,211 | |
| CWIP ⓘ | 6 | 30 | 5 | 38 | 8 | 16 | 4 | 23 | 352 | 179 | |
| Investments ⓘ | 328 | 341 | 186 | 223 | 219 | 135 | 394 | 333 | 395 | 403 | |
| Inventories | 54 | 96 | 138 | 117 | 111 | 115 | 203 | 270 | 207 | 321 | |
| Trade Receivables | 103 | 125 | 134 | 169 | 173 | 190 | 262 | 318 | 399 | 339 | |
| Cash Equivalents | 13 | 19 | 33 | 18 | 41 | 9 | 31 | 33 | 43 | 961 | |
| Others Assets ⓘ | 64 | 236 | 126 | 171 | 61 | 130 | 139 | 157 | 153 | 517 | |
| Total Assets ⓘ | 864 | 1,462 | 1,446 | 1,475 | 1,365 | 1,269 | 2,126 | 2,085 | 2,415 | 3,931 | |
| PARTICULARS | Mar'10 | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 185 | 247 | 95 | 183 | 186 | 118 | 238 | 283 | 249 | 453 |
| Cash Flow From Investing Activity ⓘ + | -178 | -370 | 23 | -78 | 30 | 0 | -80 | -14 | -337 | -1,394 |
| Cash Flow From Financing Activity ⓘ + | -15 | 2 | -107 | -119 | -192 | -150 | -165 | -268 | 84 | 1,001 |
| Net Cash Flow ⓘ | -8 | -121 | 11 | -14 | 24 | -32 | -6 | 2 | -4 | 60 |
| PARTICULARS | Mar'10 | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 18.84 | 6.46 | 9.27 | 8.74 | 14.99 | 11.26 | 12.32 | 26.49 | 17.25 | 18.03 |
| ROCE (%) | 25.62 | 8.12 | 8.12 | 10.46 | 14.45 | 12.2 | 23.44 | 35.25 | 23.18 | 15.89 |
| Asset Turnover Ratio | 1.12 | 1.08 | 0.76 | 0.89 | 0.99 | 0.96 | 1.4 | 1.05 | 1.18 | 0.95 |
| PAT to CFO Conversion(x) | 1.76 | 5.37 | 1.3 | 2.73 | 1.54 | 1.19 | 2.25 | 1.25 | 1.45 | 1.64 |
| Working Capital Days | ||||||||||
| Receivable Days | 45.20 | 33.10 | 43 | 42.50 | 44.40 | 52.60 | 34.70 | 48 | 49.40 | 44.70 |
| Inventory Days | 29.20 | 21.80 | 39 | 35.90 | 29.60 | 32.60 | 24.40 | 39.10 | 32.80 | 32 |
| Payable Days | 71.50 | 51.20 | 56.60 | 60.80 | 58.80 | 61.10 | 44.20 | 68.60 | 57.20 | 60.40 |
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Powerica Ltd FAQs
The current trading price of Powerica on 25-Sep-2026 16:59 is ₹581.8.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 24-Sep-2026 the market cap of Powerica stood at ₹7,362.8 Cr
The latest P/E ratio of Powerica as of 24-Sep-2026 is 36.52.
The latest P/B ratio of Powerica as of 24-Sep-2026 is 2.80.
The 52-week high of Powerica is ₹675.0 and the 52-week low is ₹365.1.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Powerica is ₹2,594 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Powerica Ltd is a average quality company.
The key valuation ratios of Powerica Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Powerica Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing
About Powerica Ltd
Powerica was incorporated as ‘Consolidated Power Systems Private Limited’, a private limited company, on May 4, 1984. Subsequently, the business of Hindustan Industrial & Electrical Engineers, a partnership firm constituted amongst late Naresh Chander Oberoi, late Kharatiram Kharak Puri and Mitter Sen was assigned to the company pursuant to an agreement to assign dated May 23, 1984 with effect from June 1, 1984. The company became a deemed public limited company and the word ‘private’ was struck off from the name of the company with effect from June 15, 1988 pursuant to a special resolution passed by the Shareholders on July 15, 1988. Subsequently, the name of the company was changed from ‘Consolidated Power Systems Limited’ to ‘Powerica Limited’, pursuant to a special resolution passed by the Shareholders on September 16, 1989.
The company is an integrated power solutions provider specializing in diesel generator sets (DG sets), for both primary and standby applications. As one of the original equipment manufacturers (OEMs) for Cummins India Limited (Cummins India, along with its affiliates, ‘Cummins’), it has maintained a relationship with them for over four decades. The company commenced its DG sets business in 1984, and subsequently expanded its generator set portfolio to include medium speed large generators (MSLG) in 1996. It continues to develop this segment through a collaboration with HD Hyundai Heavy Industries Co., Limited (Hyundai), on a non-exclusive basis. By integrating its DG set and MSLG offerings, the company provides a comprehensive range of generator sets with capacities ranging from 7.5 kVA to 10,000 kVA, designed to meet the distinctive requirements of diverse industries and applications. Its generator set business comprises of DG sets powered by Cummins engines, MSLG offerings in collaboration with Hyundai, and certain allied business activities (Generator Set Business). In 2008, the company strategically diversified into the Wind Power Business, commissioning its first wind power project of 4.80 MW at Samana, Jamnagar in 2008 under a 20-year PPA executed with Gujarat Urja Vikas Nigam and have since, steadily expanded its presence in Gujarat.
It operates in-house manufacturing facilities to maintain direct control over processes, costs, and timelines. Its DG set customers operate across diverse sectors, including commercial (hospitality, healthcare, banking and financial services industry - banks, education, residential and other real estate), infrastructure (retail infrastructure, logistics, railways and metros), manufacturing (industrial, process industries, dairy), agriculture (including cold storage and aquaculture), information technology/data centres, government and defense, and rentals. In addition to manufacturing and supply, it provides onsite installation services for DG sets. Its on-site capabilities include electrical works, installation of exhaust systems, construction of diesel tank farms, load balancing, and automation solutions to support seamless transitions between the grid and DG sets, particularly in multi-unit operations. This integrated approach, encompassing manufacturing, marketing, and installation, enables the company to achieve deep market penetration, make data-driven decisions on product and pricing strategies, and build enduring customer relationships.
Business area of the company
The company, along with its subsidiaries and associate, is engaged in business of manufacturing, trading and other services related to generator sets and generation of electricity from wind power.
Business divisions of the company
Generator Set Business Division
- DG Sets powered by Cummins engines
- MSLG in association with Hyundai
- Allied Businesses
Wind Power Business Division
- IPP Business
- EPC and O&M for BoP Business
Awards, accreditations and recognition
- 2005: Received ‘Star Performer Silver Shield 2004-05 (Medium Enterprises)’ award from EEPC India, Western Region.
- 2007: Ranked 118 in the ‘Businessworld Best Mid Size Companies List (July 16, 2007 issue)’ by Businessworld Intelligence.
- 2011: Received T.B. Chikkoba award for second ‘Best Wind Farm’ above 2 MW category in Tamil Nadu from Indian Wind Power Association.
- 2017: Received RE Assets India 2017 award for achievements and contributions in constructing, operating and managing world class renewable energy assets in India.
- 2019: Received ‘Prestigious Rising Brands of India 2018-19’ for the diesel generator and renewable energy category from Process Evaluators & Research - BARC Asia & Jury Panel.
- 2021: Received ‘Project of the Year Performance Excellence’ award at the India Wind Energy Forum 2021 Awards.
- 2021: Received ‘Company of the Year Developer > 100 MW’ award at the India Wind Energy Forum 2021 Awards.
- 2022: Recognised as a ‘Paragon of Branding Excellence’ at the Brand of the Year 2022 awards.
- 2022: Received ‘Service Excellence Award (Wind)’ at the RE Assets India Awards 2022 for being the best service provider of the year - BOP.
- 2022: Received ‘Team Performance Excellence Award (Wind)’ at the RE Assets India Awards 2022 for being the best team performance of the year - projects.
- 2022: Received ‘Project Performance Excellence Award (Wind)’ at the RE Assets India Awards 2022 for being the rising star project of the year.
- 2022: Received ‘Project Performance Excellence Award (Wind)’ at the RE Assets India Awards 2022 for being the best performing asset portfolio of the year.
- 2023: Received an award by Bhupendra Patel, Chief Minister of Gujarat, for commissioning of 50.6 MW Wind Power Project at Khambaliya, Dev Bhoomi Dwarka, Gujarat approved under Vibrant Gujarat, 2019.
- 2025: Received ‘Organization Excellence Award’ at the Green Finance Excellence Awards 2025 for being the organization of the year in renewable energy investments.
- 2025: Received ‘Organization Excellence Award’ at the Green Finance Excellence Awards 2025 for being the organization of the year in energy infrastructure investments.
- 2025: Received an award by Indian Drug Manufacturers’ Association for support and participation at IDMA CARES.
History and milestones
- 1984: Commenced power generation set business in India.
- 1996: Alliance with a Denmark based corporation to sell their generator set business in India through the company.
- 2004: Entered into the GOEM supply contract with Cummins India.
- 2008: Commenced wind power business in India.
- 2010: Entered into a memorandum of understanding with Vestas for joint development of wind farms.
- 2014: Started an association with HD Hyundai Heavy Industries Co., Limited.
- 2014: Installed first wind power project as a developer jointly with Vestas as complete balance of plant (BoP) solution at its co-development model project.
- 2016: Joint venture agreement with Vestas for around 750 MW.
- 2019: Commissioned a 50.6 MW wind power project for Gujrat Urja Vikas Nigam Limited.
- 2019: Entered into an agreement with HD Hyundai Heavy Industries Co., Limited for supplying generator sets to nuclear power plants in India.
- 2023: Commissioned 153.9 MW wind power projects in Gujarat.
- 2023: Completed execution of 398 MW wind power project as an independent power producer and BoP over last 9 years.
- 2024: Won 100 MW wind power project bids in Solar Energy Corporation of India Ltd. tariff-based competitive bidding.
- 2024: Entered into a joint development agreement with GE Renewable R&D India Private Limited for joint development of wind solar hybrid renewable energy power projects of up to 2,000 MW in the state of Gujarat.
- 2024: Acquired 50% of the equity share capital of retro fit emission control device manufacturers Platino Automotive Private Limited.
- 2024: Entered into a framework agreement with Vestas Wind Technology India Private Limited for supply of multibrand spare parts, consumables and services for multi brand wind turbine generators.
- 2024: International cooperation agreement executed between 8.2 Consulting AG and the company’s subsidiary, Powerica Renewable Infra Private Limited for the joint processing of projects in the field of wind energy.
- 2024: Entered into a spare parts supply agreement with Hydraulic Parts & Systems BV.
- 2026: Commissioned a 50 MW wind power project in Gujarat.
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