Tirupati Forge Limited
NSE: TIRUPATIFL · Other · sector
₹63.70NSE close 2026-10-26
Key numbers
Market cap₹403 cr
Price₹63.70
52w high / low₹84 / ₹30
P/E73.2xSector median 14.4x
P/B3.0xSector median 1.7x
Book value₹21.1
Dividend yield–Sector median 0.37%
ROE5.1%Sector median 13.8%
ROCE6.9%Sector median 19.6%
OPM9.8%Sector median 10.4%
Debt / equity0.26xSector median 0.29x
EV/EBITDA26.0xSector median 8.4x
Interest cover3.5x
Current ratio1.82x
Sales growth 3y+20.9%Sector median +7.7%
Profit growth 3y-12.6%Sector median +16.6%
PEG35.87x
Last 12 months to Jun 2026, Standalone. "Sector median" = middle value of 688 companies in Other (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹7 cr vs borrowings ₹34 cr (FY26): borrowings are higher by ₹28 cr.
- Borrowings rose in each of the last 3 years (₹9 cr → ₹34 cr).
- Operating profit covered interest 3.5x in the last 12 months.
- No promoter shares are pledged.
- Promoter holding rose by 1.32 percentage points in a year, to 49.42% (2026-09-30).
- Operating cash flow was below net profit in 3 of the last 5 years (FY25, FY23, FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 52% of net profit in the last 12 months.
- Dividend paid in 1 of the last 5 financial years.
- Price ₹63.70 on 2026-10-26: -24.1% from the 52-week high, +111.6% 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 ₹81.55 · low ₹29.20
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 32 | 26 | 28 | 32 | 40 | 49 | 42 | 38 |
| EBITDA | 5 | 3 | 3 | 4 | 3 | 5 | 4 | 4 |
| OPM % | 15.0% | 9.9% | 11.3% | 11.4% | 8.1% | 10.5% | 9.2% | 11.5% |
| Other income | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 0 |
| Net profit | 3 | 1 | 1 | 1 | 1 | 2 | 2 | 1 |
| EPS (₹) | 0.26 | 0.26 | 0.11 | 0.24 | 0.11 | 0.32 | 0.24 | 0.20 |
| Revenue YoY | +22.9% | +85.9% | +52.4% | +18.0% | ||||
| Profit YoY | -49.2% | +54.2% | +16.9% | -13.5% |
Standalone figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 88 | 92 | 110 | 115 | 162 | 168 |
| EBITDA | 11 | 15 | 13 | 15 | 16 | 17 |
| Net profit | 6 | 9 | 7 | 8 | 6 | 6 |
| EPS (₹) | 0.64 | 0.96 | 0.67 | 0.74 | 1.02 | 0.87 |
| Revenue growth | +4.3% | +19.5% | +4.5% | +41.3% | +42.3% | |
| Profit growth | +51.6% | -29.6% | +18.4% | -19.8% | -8.4% | |
| Dividend / share (₹) | 0.10 | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +20.9% | +39.5% | +42.3% |
| Net profit | -12.6% | +74.1% | -8.4% |
| EPS | +2.0% | +23.2% | – |
| Share price | – | +30.7% (2y) | +68.1% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 36 | 50 | 107 | 133 |
| Borrowings | – | 9 | 11 | 18 | 34 |
| Cash & equivalents | – | 0 | 4 | 33 | 7 |
| Total assets | – | 51 | 74 | 146 | 204 |
| Fixed assets | – | 14 | 17 | 29 | 50 |
| Capital work in progress | – | 0 | 8 | 18 | 67 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 16 | 16 | 17 | 26 |
| Inventory | – | 16 | 22 | 23 | 23 |
| Payables | – | 3 | 8 | 10 | 19 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 1 | 4 | 10 | 6 | 16 |
| Cash from investing | -3 | -3 | -15 | -38 | -75 |
| Cash from financing | 2 | -2 | 9 | 61 | 32 |
| Capex | 3 | 4 | 13 | 31 | 77 |
| Free cash flow | -2 | 1 | -3 | -25 | -61 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 26.0% | 13.3% | 7.3% | 4.7% |
| ROCE % | – | 30.2% | 16.8% | 9.8% | 6.9% |
| Debtor days | – | 64 | 53 | 54 | 58 |
| Inventory days | – | 113 | 120 | 127 | 103 |
| Payable days | – | 23 | 44 | 54 | 82 |
| Cash conversion cycle (days) | – | 154 | 129 | 127 | 79 |
| Working capital days | – | 87 | 84 | 211 | 74 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 49.42% |
| FIIs | 0.43% |
| DIIs | 0.15% |
| Government | 0.00% |
| Public (non-institutions) | 49.99% |
| Quarter | Jan 2026 | Feb 2026 | Mar 2026 | Apr 2026 | Jun 2026 | Jul 2026 | Sep 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 49.44% | 49.01% | 49.01% | 49.75% | 49.75% | 49.42% | 49.42% | 49.42% |
| Promoter group | % |
|---|---|
| Chetna Mukeshbhai Thumar | 15.42% |
| Bhargavi Manojbhai Thummar | 14.06% |
| Hiteshkumar Gordhanbhai Thummar | 9.28% |
| Jayaben Shivlal Thumar | 4.66% |
| Otamben Khodabhai Thumar | 4.01% |
| Darshna Hiteshbhai Thummar | 1.99% |
| Public holders above 1% | % |
|---|---|
| Sandeep Kapadia | 3.00% |
| Ritesh Parshutambhai Vekaria | 2.90% |
| Devansh Trademart LLP | 1.46% |
56,922 shareholders. Pledged: 0.00% of promoter shares.
Peers in Other
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| TSFINV | ₹8,585 cr | 17.6x | 1.4x | 8.4% | 3.6% | 20.5% | +121.7% | 2.30% |
| KRISHANA | ₹6,339 cr | 39.9x | 11.3x | 41.6% | 23.2% | 12.6% | +95.7% | 0.05% |
| MARINE | ₹5,431 cr | 84.2x | 11.0x | 14.3% | 18.0% | 10.8% | +25.6% | 0.07% |
| ZOTA | ₹4,139 cr | – | 6.0x | -22.5% | -12.4% | -0.5% | +56.7% | 0.07% |
| AIMTRON | ₹3,319 cr | 71.7x | 17.1x | 28.0% | 31.8% | 21.8% | – | – |
| ACCORD | ₹2,984 cr | – | 261.7x | 12.4% | 12.0% | 2.4% | – | – |
| MONOLITH | ₹2,646 cr | 64.6x | 24.3x | 36.0% | 48.7% | 24.4% | – | – |
| UTSSAV | ₹2,390 cr | 40.2x | 14.1x | 43.4% | 54.7% | 7.9% | – | – |
| BETA | ₹2,200 cr | 40.6x | 5.0x | 16.4% | 17.0% | 20.8% | – | – |
| TIRUPATIFL | ₹403 cr | 73.2x | 3.0x | 5.1% | 6.9% | 9.8% | +20.9% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2024-09-20 | Other | Annual General Meeting |
| 2023-12-20 | Other | Extra Ordinary General Meeting |
| 2023-09-08 | Other | Annual General Meeting |
| 2022-09-22 | Other | Annual General Meeting |
| 2021-10-07 | Split | Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 2/- Per Share |
| 2021-10-07 | Bonus | Bonus 3:4 |
| 2021-09-17 | Other | Annual General Meeting |
| 2021-08-12 | Dividend | Interim Dividend - Rs 0.10 Per Share |
| 2020-09-17 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- Latest results (data file) XBRL
Links go to the original files on the exchange website.
About the company
| Sector | |
| Industry | Other |
| Sub-industry | |
| Symbol | TIRUPATIFL |
| BSE code | – |
| ISIN | INE319Y01024 |
| Face value | ₹2.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
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.