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Star Delta Transform Overview

Star Delta Transformers Limited, established by Mr. Syed Moin U. Zaffer and others in 1977, is a leading company in the field of Power and Distribution Transformers. Based in Bhopal, India, the company manufactures, supplies, erects, tests and commissions various transformers and mobile minisubstations for different applications and utilities. The company is ISO certified and has a state-of-the-art, fully integrated facility at Industrial Area, Govindpura, Bhopal. Company's portfolio include power transformers, extra high voltage transformers, ...Read More

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Star Delta Transform Key Financials

Market Cap ₹186 Cr.

Stock P/E 17.5

P/B 2

Current Price ₹621

Book Value ₹ 308.8

Face Value 10

52W High ₹846.4

Dividend Yield 0%

52W Low ₹ 392.6

Star Delta Transform Share Price

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Volume
Price

Star Delta Transform Quarterly Price

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Star Delta Transform Peer Comparison

Star Delta Transform Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 37 35 38 35 37 33 38 30 44 53
Other Income 1 0 1 0 1 0 0 1 1 1
Total Income 38 36 39 35 38 33 38 31 44 53
Total Expenditure 33 32 35 31 33 29 33 27 39 49
Operating Profit 5 4 4 4 4 4 4 4 5 4
Interest 1 1 0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 0 0 0 -0 0 0 0 0
Profit Before Tax 4 3 4 3 4 3 4 3 4 4
Provision for Tax 1 1 2 1 1 1 1 1 0 1
Profit After Tax 3 2 2 3 3 2 3 2 4 2
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 3 2 2 3 3 2 3 2 4 2
Adjusted Earnings Per Share 10.4 8.2 7.1 8.5 9.6 7.1 10.2 7.6 13.2 6.9

Star Delta Transform Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 53 77 63 60 108 65 18 31 71 140 142 165
Other Income 1 2 2 1 1 2 4 5 4 4 1 3
Total Income 53 79 65 61 108 67 22 36 75 144 143 166
Total Expenditure 49 72 58 55 99 61 19 29 66 127 127 148
Operating Profit 4 7 7 5 9 7 3 6 9 17 16 17
Interest 1 1 1 1 1 0 0 0 1 1 1 0
Depreciation 1 1 1 1 1 1 1 1 1 1 1 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 2 5 5 3 8 6 2 5 8 15 14 15
Provision for Tax 1 2 2 1 2 1 1 2 2 4 4 3
Profit After Tax 2 3 3 2 6 4 2 4 6 11 11 11
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 2 3 3 2 6 4 2 4 6 11 11 11
Adjusted Earnings Per Share 5.6 10.5 10.7 7.3 18.7 14.6 5.9 12.2 19.2 37 35.4 37.9

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 1% 66% 17% 10%
Operating Profit CAGR -6% 39% 18% 15%
PAT CAGR 0% 40% 22% 19%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -13% 50% 51% 16%
ROE Average 13% 13% 10% 9%
ROCE Average 19% 19% 14% 13%

Star Delta Transform Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 33 36 39 41 47 51 53 57 63 74 84
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 2 3 2 1 1 1 0 0 0 0 1
Other Non-Current Liabilities 1 2 1 3 3 2 2 2 3 1 1
Total Current Liabilities 9 7 8 18 12 4 3 2 22 15 12
Total Liabilities 45 47 50 63 64 58 58 61 87 89 98
Fixed Assets 9 9 8 8 8 7 6 6 5 5 6
Other Non-Current Assets 0 0 0 1 2 2 1 1 1 0 4
Total Current Assets 36 38 42 54 54 49 51 54 81 84 89
Total Assets 45 47 50 63 64 58 58 61 87 89 98

Star Delta Transform Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 10 5 1 3 0 4 5 5 10 1 3
Cash Flow from Operating Activities 8 -4 5 -5 9 -0 -3 3 -16 -7 3
Cash Flow from Investing Activities 1 0 0 1 -1 2 4 3 6 11 1
Cash Flow from Financing Activities -13 2 -2 1 -5 -2 -0 -0 1 -2 -1
Net Cash Inflow / Outflow -5 -2 3 -3 4 0 1 5 -10 2 4
Closing Cash & Cash Equivalent 5 3 3 0 4 5 5 10 1 3 6

Star Delta Transform Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 5.59 10.55 10.72 7.26 18.69 14.63 5.89 12.17 19.19 37.05 35.42
CEPS(Rs) 8.56 13.16 13.35 9.82 21.16 17.37 8.64 14.83 21.79 39.41 38
DPS(Rs) 0.5 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 109.54 120.08 130.8 138.06 156.76 171.38 177.27 189.44 208.64 245.68 281.11
Core EBITDA Margin(%) 6.5 5.67 7.66 6.47 6.82 6.26 -1.44 4.59 7.66 9.41 10.35
EBIT Margin(%) 5.98 7.34 8.88 6.55 6.66 7.81 12.3 14.88 11.69 11.74 10.75
Pre Tax Margin(%) 3.9 5.86 7.46 4.9 5.87 7.29 11.17 14.23 10.77 10.71 10.08
PAT Margin (%) 2.95 3.85 4.81 3.29 4.37 5.68 8.15 9.94 8.07 7.93 7.49
Cash Profit Margin (%) 4.51 4.8 5.99 4.45 4.94 6.74 11.96 12.11 9.16 8.44 8.04
ROA(%) 3.4 6.85 6.59 3.85 8.88 7.22 3.04 6.12 7.77 12.59 11.35
ROE(%) 5.23 9.19 8.55 5.4 12.68 8.92 3.38 6.64 9.64 16.31 13.45
ROCE(%) 8.38 15.61 13.88 9.49 17.53 11.79 4.99 9.77 13.54 23.34 18.78
Receivable days 89.06 82.58 125.17 123.94 52.91 70.62 195.95 97.61 111.15 87.83 99.98
Inventory Days 96.47 51.83 47.42 86.99 73.15 74.61 108.31 76.17 68.79 60.92 65.16
Payable days 36.06 11.37 10.82 53.16 30.49 16.58 35.53 8.39 57.03 42.49 19.41
PER(x) 13.03 8.92 9.94 17.31 7.17 5.57 13.71 8.21 7.29 16.45 16.1
Price/Book(x) 0.67 0.78 0.81 0.91 0.85 0.48 0.46 0.53 0.67 2.48 2.03
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 0.01 0.4 0.47 0.67 0.32 0.28 0.95 0.59 0.56 1.26 1.15
EV/Core EBITDA(x) 0.14 4.47 4.38 7.9 3.76 2.63 5.04 2.95 4.36 10.28 10.21
Net Sales Growth(%) -20.41 45.07 -17.53 -5.41 80.22 -39.32 -71.77 68.78 129.06 96.42 1.23
EBIT Growth(%) -24.26 77.18 -1.71 -26.84 96.92 -29.31 -55.87 105.04 52.55 97.37 -7.31
PAT Growth(%) -45.12 88.55 1.63 -32.29 157.59 -21.74 -59.74 106.62 57.74 93.02 -4.38
EPS Growth(%) -45.12 88.55 1.63 -32.29 157.59 -21.74 -59.74 106.62 57.74 93.02 -4.38
Debt/Equity(x) 0.08 0.16 0.11 0.15 0.06 0.03 0.02 0.02 0.04 0.03 0.03
Current Ratio(x) 4.22 5.63 5.45 3.07 4.48 13.42 16.8 27.17 3.68 5.62 7.52
Quick Ratio(x) 2.68 4.13 4.52 1.68 2.22 12.17 14.06 23.64 2.78 3.82 5.51
Interest Cover(x) 2.87 4.95 6.26 3.97 8.53 14.86 10.91 22.99 12.81 11.4 15.99
Total Debt/Mcap(x) 0 0.2 0.14 0.17 0.07 0.05 0.04 0.03 0.06 0.01 0.01

Star Delta Transform Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 74.91 74.99 74.99 74.99 74.99 74.99 74.99 74.99 71.66 71.69
FII 0 0 0 0 0 0 0 0 0 0
DII 0 0 0 0 0 0 0 0 0 0
Public 25.09 25.01 25.01 25.01 25.01 25.01 25.01 25.01 28.34 28.31
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Star Delta Transform News

Star Delta Transform Pros & Cons

Pros

  • Company has delivered good profit growth of 22% CAGR over last 5 years
  • Debtor days have improved from 42.49 to 19.41days.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 13% over the last 3 years.
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