Indo Tech Transformers Ltd

Rating Action & Instrument Details

• Ind-Ra affirms bank loan facilities; Outlook revised to Positive.
• Bank loan facility INR 4,000m; rating IND BBB+/Positive/IND A2; affirmed.
• Bank loan facility INR 1,200m; rating IND BBB+/Positive/IND A2; assigned.

Rationale & Financials

• Standalone view; ITL–SSEL link limited; monitor material changes.
• FY26 revenue 7,731.80m; EBITDA 1,291.16m; margin 16.70%.
• EBITDA margin remains healthy; ROCE 37.2% in FY26.
• Order book 11,228m as of 30 Jun 2026; solid near-term visibility.
• Net leverage -0.57x; interest coverage 11.70x; liquidity comfortable.
• Capex 340.55m in FY26; expansion to 13,000 MVA by FY27.
• WC cycle 153 days; inventory 129 days; debtor 57; creditor 33.
• Pricing risk mitigated via variable contracts; raw materials copper/CRGO volatile.
• Promoters' 30+ years experience; reputed clients.

ESOP plan approval

• Board approved ITTL ESOP 2026 on August 11, 2026, subject to shareholder approval.
• Shareholders to consider approval at the ensuing AGM under SEBI SBEB & SE Regulations.
• ESOP pool: 200,000 options exercisable into 200,000 equity shares.
• Exercise price fixed at INR 10 per option; grant letters to be issued.
• Scheme administered by Nomination and Remuneration Committee.
• As of date, no grants have been made; vesting terms to be determined by NRC.
• Disclosures will be uploaded on company and stock exchange websites.

Dividend entitlement and payment details

• Record date set for entitlement to FY2025-26 dividend: 16 September 2026.
• Dividend payment, subject to AGM approval, to be paid after 23 September 2026.
• Payments to electronic-holding members only; no physical shareholdings.
• Payout through electronic mode; tax deduction at source as applicable.
• Beneficial owners list will be used; physical shareholding not applicable.

Dividend details

• Final dividend of Rs 10 per equity share (face Rs 10) for FY ended 31 March 2026.
• Record date is 16 September 2026.
• Book closure is from 17 September 2026 to 23 September 2025.
• Payment date is after 23 September 2026.
• Face value per share is Rs 10.
• Dividend percentage is 100% of face value.

Meeting Details

• Board meeting scheduled for Tuesday, 11 August 2026.

Key Agenda Items

• Consider and approve unaudited results for the quarter ended June 30, 2026.
• Consider and recommend ESOP 2026.
• Consider and recommend final dividend, if any, on equity shares for the year.
• Other business of the company.

Other Notes

• Trading window closes from 01 July 2026 and reopens 48 hours after results declaration.

Dematerialisation status

• Dematerialisation requests processed and confirmed to depositories.
• Securities dematerialised were listed on the relevant stock exchanges.
• Physical certificates dematerialised were mutilated and cancelled; registered owner updated to the depository within prescribed timelines.

Indo Tech Transformers Ltd Trading Window closed from July 1, 2026 until 48 hours after the unaudited quarterly results for the quarter ended June 30, 2026

Transaction details

• Target Company: Indo Tech Transformers Limited.
• Disclosing Party: Shirdi Sai Electricals Limited (Promoter group).
• Transaction Type: Disposal of equity shares.
• Pre-Transaction Voting rights: 76,65,000 (72.18%).
• Pre-Transaction Encumbrances: 61,52,236 (57.93%).
• Pre-Transaction Warrants/convertibles: 15,12,764 (14.25%).
• Post-Transaction Voting rights: 74,65,000 (70.29%).
• Post-Transaction VRs: 13,12,764 (12.36%).
• Post-Transaction Encumbrances: 61,52,236.
• Mode of transaction: Open market.
• Date of sale: 30-06-2026.
• Equity share capital before: 1,06,20,000 shares.
• Equity share capital after: 1,06,20,000 shares.
• Total diluted share capital after: 1,06,20,000.