Chirag Rupani

Passionate Long term Investor

[Chirag Rupani @Chiragrpn]

@Tanmay_31_ @amanomer317333 I am tracking Tanmaybhai's views & can say that he is the man whose views about the company are genuine and too good however it is quit possible that situations can be changed within days also as lot global factors affecting.

[Chirag Rupani @Chiragrpn]

@tushar9590 Sector are you bullish on ?

[Chirag Rupani @Chiragrpn]

@croreclub I want to be a proud member of The Billionaires club family 💐
I'll be active and I'll follow all sebi guidelines.

[🇮🇳 Focused Investing @ParveenBhansali]

TD Power
#TDPOWERSYS

Most Powerful Growth Triggers:

1. Gas Turbine/Data Center Structural Boom:
As per Management this is the strongest segment with highest growth potential with OEM visibility till 2030 and Data centers moving toward captive power (off-grid dependency). Additional use cases are grid stabilization and synchronous condensers.

This matters as Data center plus AI capex is exploding globally and TDPS is positioned exactly in the power backbone layer and therefore is the primary long-term compounding engine.

2. Record Order Book plus Export Surge:
Q3 inflow: INR 6.56bn (All-time high)
+61% YoY
84% export mix
Core backlog doubled in 24 months

This matters as it gives Revenue visibility for multiple quarters and
Operating leverage kicks in with
strong execution runway.
The backlog growth of 120% vs FY24 is not normal, it signals a structural shift, not a cyclical bump.

3. Plant 3 Capacity Unlock:
This is an immediate earnings triggers with capacity already
operational from Dec 18.
Q4 target: ₹550-575cr/quarter
Q1 onward: ₹600cr/quarter
Peak throughput possible: ₹2,600–2,800cr

This matters as Capacity unlock leads to revenue acceleration and therefore FY27 raised guidance off ₹2,200+ crore (called conservative though) and also operating leverage improves margins too and therefore this is the near-term earnings acceleration trigger (FY26-FY27).

4. Export led FX Tailwind & Minimal Hedging:
FX gains expected from Q4 onward
79% export mix (9M)
Only 10% hedged
INR depreciation directly boosts bottom line

This matters as Revenue growth and currency tailwind means dual benefit and natural hedge via export dominance. If INR remains weak then earnings surprise likely.

5. FY27 conservative guidance (upgrade potential)
FY26: >₹1,800cr
FY27: ₹2,200+ cr (called “conservative”) and extremely high probability of upward revision

Management confidence unusually strong. If execution continues➡️ earnings upgrade cycle &
Earnings upgrades ➡️ stock rerating trigger.

6. New U.S. Gas Turbine Customer:
This is engineering order stage and conversion expected in weeks and
“Big forecast” for next year

Entry into new U.S. client deepens exposure to U.S. data center plus gas turbine capex cycle with repeat order potential too. This can materially expand export scale. This point is actually more important than it looks on surface level.

The U.S. gas turbine market is large, high-value, driven by data center + AI capex and dominated by established OEM ecosystems. If TD Power is supplying to a U.S. gas turbine OEM
Or entering directly into U.S. captive power ecosystem, it means:
- Technical credibility validated
- Global quality acceptance
- Compliance cleared
& That’s a brand upgrade moment.

7. Hydro Vertical Breakout (New Growth Leg)
Next year expected to be highest ever hydro revenue as refurbishment vertical becoming large with 2-3 year visibility.

This adds diversification as refurbishment means recurring business model and OEM-agnostic positioning means wider addressable market.

8. Gross Margin Sustainability (35%)
Copper price pass-through has been confirmed
Booked lower-price copper inventory
Similar margin profile across products

This Protects earnings quality despite commodity volatility and if combined with FX tailwind then it can lead to potential margin expansion.

Recent mgmt concall therefore indicates structural demand (not cyclical spike), capacity unlock, margin tailwinds, export leverage and order visibility till 2030 (gas turbine segment). If execution sustains, this combination becomes a multi-year earnings compounding story, not just a short-term capex play.

[Chirag Rupani @Chiragrpn]

@ParveenBhansali Very good Analysis Praveen ji
Infact it's front runner in Gen Sets. Overall bullish sector as there is structural demand

[Chirag Rupani @Chiragrpn]

@chiragdashj Congratulations 💐

[Chirag Rupani @Chiragrpn]

@Abhi4Research Sir I have DM you with my Mob. number for add in your community

[Chirag Rupani @Chiragrpn]

@RupakRoyC Yes sir it will be very helpful and please share custom ratio of Cash Flow

[Chirag Rupani @Chiragrpn]

@rajendray @desiwallstreet That is right approach as eventually share price is slave of fundamental not technical

[Chirag Rupani @Chiragrpn]

@Finstor85 Good to see you back. Hope everything is fine.

[Chirag Rupani @Chiragrpn]

@bulleterboy_59 @Atulsingh_asan App?

[Chirag Rupani @Chiragrpn]

@ChanderBhatia01 Sir as per your opinion which books ( includes Financial Parameter as well) must be read by Investor ?

[Fundamental Investor ™ 🇮🇳 @FI_InvestIndia]

For Foreign Funds who invest in India, strengthening of Dollar reduces their Long Term Returns. The STCG & LTCG Burden further reduces their returns.

The FIIs who entered markets 10 years back when USD was ₹64 INR are selling at ₹85+ INR today. Apart from that, the burden of STT & CG, reduces their returns to below FD rates. While we Indians make 12% CAGR, they end up with sub par below FD returns.

India is an Emerging Market & Foreign Interest will always be there. Domestic flows are Heavy and will continue to Flood the Market. So fundamentally, we will all Create Wealth. Valuations are Reasonable. But, we want Foreign Funds to also clock a better CAGR.

FM Madam should understand this basic funda & remove Capital Gains Tax burden for Foreign Funds. That will send a Strong Message to them as well. Retain STT.

Also, the Capital Gains Tax is probably a few Thousand Crores, which can be offset by a slightly higher STT.

@nsitharaman - Mistakes happen. This can be Corrected Well.

On behalf of FIIs, DIIs & Millions of Investors,
#FI

[Sandeep Singh @Alchemist1320]

Question : what does it even mean that FIIs don’t pay taxes in any other country ? How is that possible ?

Answer : FIIs don’t pay taxes anywhere else in invested country. India is the only major country which taxes them at source. Other countries let FIIs handle at redemption / client end.

GOI thinking : one can claim tax offset.

Why GOI’s thinking is impractical : most fund are simply creating a tax liability at NAV level for India exposure. Many of their clients don’t pay any taxes in end and some do. Hence whole process of tax offset doesn’t work for many and for many others it’s too cumbersome.

Why are we discussing it now when LTCG was done 7-8 years back ( hiked last year) : earlier India performance was okish in dollar terms but with increased treasury yields, Indian tax adjusted 6-7% USD return is not worth operational hassles. Slowing Indian economy has accelerated selling and major fresh investments are anyway unlikely as they can simply move to other APAC or even DM countries.

All this operational hassles was worth only if India was Snow White and other were dwarfs.

In all this talk of India’s golden decade and century and Vishwa guru and what not , we forgot basic that India is still an EM (on per capita basis only slightly above Africa) and hence ignoring a vital source of capital in myopia and arrogance is no less Harakiri than Demot.

We as BJP supporters have given such long rope to incumbent Government that it no longer cares to even fix its own basic mistakes. ( and not to even consider PM/HM/FM giving all those childish statements in run up to elections on PSU rallies / Markets will give an all time high / FIIs don’t matter)

Top 2% India is anyway voting via their feet by sending kids abroad or settling overseas themselves. For rest it’s very unfortunate to have decisive government but now in wrong directions.

[Chirag Rupani @Chiragrpn]

@GunavanthVaid Fantastic msg sir

Great learning as always ♥️

[Chirag Rupani @Chiragrpn]

@RupakRoyC Any reason for multiplying by 4

[Chirag Rupani @Chiragrpn]

Ethics is Top Ingredient in Wealth Creation

[Chirag Rupani @Chiragrpn]

@AimInvestments How can IT services included as it's intangible part ?

[Chirag Rupani @Chiragrpn]

@Finstor85 Absolutely right. Some folks are presenting their views like fraud or scam in especially bear market to target some companies which are trading at high PE ( only looking current PE) rather than studying these companies. So accordingly all companies trading at high PE are fraud😂

[Chirag Rupani @Chiragrpn]

@Alchemist1320 @VTGCapital 😂😂