In this paper, a novel speed and flux estimation scheme for torque control of an induction motor (IM) without a position sensor is presented. The speed estimator constitutes an algebraic system with pseudo current and voltage signals and their observable derivatives as inputs. The proposed scheme is computationally efficient, it provides accurate speed and flux estimations at low speed and for different operating modes of IM. Various simulation and experimental results are presented to demonstrate the potential and practicality of the approach.