Tarsons Products Limited
NSE: TARSONS · Medical Equipment & Supplies · sector
₹298.30NSE close 2026-10-26
Key numbers
Market cap₹1,587 cr
Price₹298.30
52w high / low₹375 / ₹164
P/E142.7xSector median 20.2x
P/B2.5xSector median 2.6x
Book value₹119.3
Dividend yield–Sector median 0.24%
ROE1.8%Sector median 12.4%
ROCE4.1%Sector median 13.5%
OPM26.8%Sector median 13.8%
Debt / equity0.60xSector median 0.13x
EV/EBITDA16.5xSector median 16.4x
Interest cover1.7x
Current ratio1.01x
Sales growth 3y+14.3%Sector median +12.9%
Profit growth 3y-43.8%Sector median +4.1%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 15 companies in Medical Equipment & Supplies (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹25 cr vs borrowings ₹383 cr (FY26): borrowings are higher by ₹357 cr.
- Borrowings rose in each of the last 3 years (₹111 cr → ₹383 cr).
- Operating profit covered interest 1.7x in the last 12 months.
- Operating cash flow was below net profit in 2 of the last 5 years (FY23, FY22).
- Net loss in 1 of the last 8 quarters.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 242% of net profit in the last 12 months.
- Debtor days went from 96 (FY24) to 74 (FY26).
- Dividend paid in 1 of the last 5 financial years.
- Price ₹298.30 on 2026-10-26: -20.5% from the 52-week high, +81.4% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹470.50 · low ₹177.88
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 99 | 96 | 113 | 91 | 102 | 108 | 121 | 110 |
| EBITDA | 25 | 30 | 37 | 25 | 27 | 30 | 34 | 26 |
| OPM % | 25.5% | 31.0% | 32.9% | 27.0% | 26.8% | 28.0% | 28.5% | 23.6% |
| Other income | 8 | 1 | 4 | 3 | 6 | 8 | 7 | 6 |
| Net profit | 10 | 5 | 10 | 2 | 3 | 5 | 4 | -1 |
| EPS (₹) | 1.93 | 0.99 | 1.92 | 0.34 | 0.62 | 0.95 | 0.79 | -0.27 |
| Revenue YoY | +3.1% | +12.8% | +7.3% | +20.7% | ||||
| Profit YoY | -67.7% | -4.2% | -59.0% | -180.9% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 301 | 283 | 296 | 392 | 423 | 441 |
| EBITDA | 153 | 130 | 100 | 111 | 117 | 118 |
| Net profit | 101 | 81 | 43 | 30 | 14 | 11 |
| EPS (₹) | 19.46 | 15.17 | 8.01 | 5.60 | 2.69 | 2.09 |
| Revenue growth | -5.8% | +4.6% | +32.4% | +7.7% | +10.6% | |
| Profit growth | -19.8% | -47.2% | -30.2% | -51.9% | -59.7% | |
| Dividend / share (₹) | – | – | – | 2.00 | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +14.3% | – | +10.6% |
| Net profit | -43.8% | – | -59.7% |
| EPS | -43.8% | – | – |
| Share price | – | -14.4% (2y) | +3.4% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 569 | 613 | 630 | 635 |
| Borrowings | – | 111 | 257 | 329 | 383 |
| Cash & equivalents | – | 60 | 23 | 26 | 25 |
| Total assets | – | 726 | 972 | 1,080 | 1,186 |
| Fixed assets | – | 218 | 248 | 455 | 657 |
| Capital work in progress | – | 119 | 267 | 233 | 159 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 66 | 78 | 80 | 85 |
| Inventory | – | 114 | 129 | 126 | 130 |
| Payables | – | 10 | 15 | 16 | 20 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 83 | 76 | 103 | 114 | 118 |
| Cash from investing | -138 | -179 | -285 | -145 | -130 |
| Cash from financing | 130 | 85 | 136 | 39 | 9 |
| Capex | 132 | 190 | 184 | 152 | 126 |
| Free cash flow | -48 | -114 | -82 | -37 | -7 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 14.2% | 7.0% | 4.7% | 2.3% |
| ROCE % | – | 16.6% | 8.2% | 6.7% | 4.4% |
| Debtor days | – | 85 | 96 | 74 | 74 |
| Inventory days | – | 642 | 572 | 355 | 341 |
| Payable days | – | 54 | 65 | 44 | 53 |
| Cash conversion cycle (days) | – | 673 | 603 | 385 | 362 |
| Working capital days | – | 244 | 27 | 62 | 1 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 47.30% |
| FIIs | 0.55% |
| DIIs | 0.61% |
| of which Mutual funds | 0.00% |
| Public (non-institutions) | 51.53% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 47.31% | 47.31% | 47.31% | 47.31% | 47.30% | 47.30% | 47.30% | 47.30% |
| Promoter group | % |
|---|---|
| Sanjive Sehgal | 26.98% |
| Aryan Sehgal | 20.30% |
| Jyoti Likhari | 0.01% |
| ANU Nagrath | 0.01% |
| Anshu Kapur | 0.01% |
| Neeta Arora | 0.01% |
| Inayat Sehgal | 0.00% |
| Sanjive Sehgal and Others HUF | 0.00% |
| Aryan Sehgal and Others HUF | 0.00% |
| Inayat Apartments Private Limited | 0.00% |
| Inayat Heights Private Limited | 0.00% |
| Inayat Estates Private Limited | 0.00% |
| Inayat Homes Private Limited | 0.00% |
| Inayat Residency Private Limited | 0.00% |
| Inayat Properties Private Limited | 0.00% |
| Public holders above 1% | % |
|---|---|
| Clear Vision Investment Holdings PTE Limited | 23.42% |
| Gracious Advisors LLP | 3.15% |
80,867 shareholders. Pledged: – of promoter shares.
Peers in Medical Equipment & Supplies
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| POLYMED | ₹14,631 cr | 46.4x | 4.7x | 10.7% | 12.7% | 22.8% | +18.9% | 0.24% |
| MOLBIO | ₹14,360 cr | – | – | – | – | – | – | – |
| TARSONS | ₹1,587 cr | 142.7x | 2.5x | 1.8% | 4.1% | 26.8% | +14.3% | – |
| LAXMIDENTL | ₹945 cr | 30.4x | 3.9x | 13.7% | 13.4% | 14.0% | – | – |
| FISCHER | ₹856 cr | 11.2x | 2.2x | -0.8% | 11.6% | 13.6% | – | 0.04% |
| HSIL | ₹740 cr | 36.9x | 6.5x | 21.8% | 24.1% | 10.0% | – | – |
| FABTECH | ₹543 cr | 8.8x | 1.3x | 11.6% | 13.6% | 10.9% | – | – |
| PREVEST | ₹455 cr | 14.7x | 4.0x | 29.9% | 36.9% | 34.1% | +12.9% | 0.26% |
| NURECA | ₹296 cr | 63.0x | 1.6x | 2.5% | 5.3% | 3.5% | +9.7% | – |
| CHOKSI | ₹115 cr | 22.2x | 2.7x | 13.1% | 17.9% | 14.5% | +300.1% | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| India | ₹333 cr | 78.8% | ₹132 cr | 39.6% |
| Germany | ₹90 cr | 21.2% | ₹10 cr | 10.9% |
| Intersegment Revenue-India | ₹0 cr | 0.0% | ₹0 cr | 0.0% |
| Rest of the world | ₹0 cr | – | ₹-0 cr | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2024-09-20 | Dividend | Annual General Meeting/Dividend - Rs 2 Per Share |
| 2023-07-07 | Other | Annual General Meeting |
| 2022-07-21 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing: Manufacture of rubber and plastic products
- Wholesale and retail trade; repair of motor vehicles and motorcycles: Wholesale trade, except of motor vehicles and motorcycles
| Sector | Healthcare |
| Industry | Medical Equipment & Supplies |
| Sub-industry | Medical Equipment & Supplies |
| Symbol | TARSONS |
| BSE code | 543399 |
| ISIN | INE144Z01023 |
| Face value | ₹2.0 |
| Incorporated | 1983-07-05 |
| Website | www.tarsons.com |
| Plants (India / abroad) | 7 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.