Copper Price Inflation Impact
Copper prices have risen drastically and management acknowledged renegotiating prices with customers. While existing copper inventory provides insulation, new orders will need to absorb higher commodity costs.
TDPOWERSYS / Q3-FY26 / risks
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TD Power Systems · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Railway Business Transition Risk
Indian railway contract (1.87 billion of 2.85 billion railway order book) expires by FY28 with no replacement domestic orders in pipeline. Management flagged steady state rather than growth post-FY28.
Motor Business Neglect
Management explicitly stated motor business is not a priority given focus on generator segment. The 150 crore motor revenue target may slip as capacity and attention are diverted to higher-growth generator business.
FX Hedging Strategy Reversal Questioned
Management stopped hedging 6 months ago to capture rupee depreciation benefits. While currently advantageous, this leaves the company exposed to adverse currency movements if rupee strengthens.