Tulsyan NEC Ltd
Incorporated in 1947, Tulsyan NEC Ltd is engaged in the manufacturing of TMT bars, Coal Based Power Plant and Synthetics Woven fabrics and sacks[1]
- Market Cap ₹ 62.1 Cr.
- Current Price ₹ 37.7
- High / Low ₹ 49.7 / 17.1
- Stock P/E
- Book Value ₹ 156
- Dividend Yield 0.00 %
- ROCE -1.29 %
- ROE -22.7 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.24 times its book value
Cons
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 1.62% over past five years.
- Company has a low return on equity of -8.59% over last 3 years.
- Contingent liabilities of Rs.37.5 Cr.
- Promoters have pledged 99.6% of their holding.
- Earnings include an other income of Rs.22.2 Cr.
- Promoter holding has decreased over last 3 years: -6.25%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Industrial Products Iron & Steel Products
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,285 | 1,235 | 846 | 539 | 710 | 843 | 736 | 567 | 752 | 950 | 956 | 797 | 779 | |
| 1,226 | 1,193 | 772 | 503 | 695 | 817 | 713 | 545 | 738 | 935 | 958 | 787 | 778 | |
| Operating Profit | 59 | 41 | 74 | 37 | 15 | 26 | 23 | 22 | 15 | 15 | -2 | 10 | 1 |
| OPM % | 5% | 3% | 9% | 7% | 2% | 3% | 3% | 4% | 2% | 2% | -0% | 1% | 0% |
| 0 | 4 | 3 | -2 | -7 | 4 | 1 | 197 | 804 | 213 | 18 | 3 | 22 | |
| Interest | 77 | 75 | 93 | 119 | 140 | 228 | 224 | 203 | 5 | 11 | 39 | 64 | 89 |
| Depreciation | 22 | 17 | 16 | 25 | 26 | 25 | 25 | 25 | 24 | 26 | 25 | 22 | 21 |
| Profit before tax | -39 | -47 | -32 | -109 | -158 | -223 | -226 | -9 | 790 | 191 | -48 | -73 | -86 |
| Tax % | 56% | -22% | -11% | -20% | 0% | 0% | 0% | 0% | 0% | -30% | 4% | 0% | |
| -61 | -37 | -29 | -87 | -158 | -223 | -226 | -9 | 790 | 248 | -50 | -73 | -86 | |
| EPS in Rs | -40.60 | -24.48 | -19.11 | -58.21 | -105.03 | -148.39 | -150.69 | -6.15 | 526.63 | 148.76 | -30.10 | -43.62 | -52.08 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | -4% |
| 5 Years: | 2% |
| 3 Years: | 2% |
| TTM: | -6% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 11% |
| 3 Years: | % |
| TTM: | -66% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | % |
| 3 Years: | -11% |
| 1 Year: | -20% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -9% |
| Last Year: | -23% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 17 | 17 | 16 | 16 |
| Reserves | 123 | 99 | 71 | -23 | -180 | -403 | -629 | -639 | 150 | 403 | 351 | 257 | 240 |
| 553 | 775 | 802 | 1,100 | 1,167 | 1,314 | 1,451 | 1,474 | 617 | 356 | 314 | 351 | 366 | |
| 524 | 449 | 366 | 99 | 158 | 171 | 218 | 106 | 135 | 138 | 158 | 186 | 179 | |
| Total Liabilities | 1,215 | 1,338 | 1,253 | 1,190 | 1,160 | 1,096 | 1,055 | 957 | 917 | 914 | 840 | 809 | 801 |
| 334 | 321 | 315 | 737 | 718 | 695 | 673 | 650 | 628 | 565 | 542 | 521 | 499 | |
| CWIP | 221 | 270 | 292 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 7 | 13 |
| Investments | 10 | 8 | 8 | 6 | 6 | 6 | 6 | 6 | 7 | 7 | 7 | 7 | 7 |
| 650 | 739 | 638 | 446 | 435 | 395 | 375 | 301 | 283 | 343 | 289 | 274 | 283 | |
| Total Assets | 1,215 | 1,338 | 1,253 | 1,190 | 1,160 | 1,096 | 1,055 | 957 | 917 | 914 | 840 | 809 | 801 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 93 | -195 | 97 | 19 | 147 | 76 | 39 | 232 | 860 | 336 | 11 | 36 | |
| -80 | -38 | -29 | -13 | 8 | 4 | -4 | -3 | -3 | 1 | 54 | -8 | |
| -11 | 262 | -100 | -3 | -151 | -84 | -35 | -226 | -860 | -327 | -76 | -28 | |
| Net Cash Flow | 2 | 29 | -32 | 2 | 3 | -4 | -0 | 3 | -3 | 10 | -12 | -1 |
| Free Cash Flow | 8 | -240 | 66 | -0 | 141 | 79 | 36 | 231 | 858 | 332 | 65 | 26 |
| CFO/OP | 159% | -474% | 132% | 52% | 983% | 296% | 172% | 1,074% | 5,865% | 2,185% | -646% | 338% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 95 | 114 | 139 | 139 | 139 | 106 | 117 | 101 | 71 | 37 | 40 | 43 |
| Inventory Days | 45 | 46 | 72 | 112 | 62 | 56 | 64 | 85 | 50 | 49 | 37 | 42 |
| Days Payable | 111 | 100 | 124 | 62 | 59 | 41 | 50 | 13 | 25 | 44 | 57 | 75 |
| Cash Conversion Cycle | 29 | 60 | 87 | 189 | 143 | 121 | 130 | 173 | 96 | 42 | 19 | 11 |
| Working Capital Days | -7 | 56 | 67 | -180 | -240 | -255 | -331 | -370 | -151 | 15 | -11 | -46 |
| ROCE % | 6% | 4% | 7% | 1% | -1% | 0% | -0% | -0% | -1% | -1% | -1% | -1% |
Insights
In beta| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Steel Production (TMT Bars/Rods) MT |
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| Synthetics Production MT |
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| Power Generation Lac Units |
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| Power Installed Capacity (Thermal) MW |
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Extracted by Screener AI
Documents
Announcements
- Board Meeting Intimation for Consideration And Approval Of Audited Standalone And Consolidated Financial Results For The Quarter And Year Ended March 31, 2026 And Other Routine Matters. 4m
-
Announcement under Regulation 30 (LODR)-Resignation of Director
8 May - Mr. S Chandrasekaran resigned as Whole Time Director effective 08 May 2026.
-
Board Meeting Outcome for Outcome Of The Board Meeting Held On May 02, 2026 Pertaining To Execution Of The Registered Mortgage
2 May - Board approved Rs.50 crore credit arrangement secured by mortgage of 31.86 acres on May 2, 2026.
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 7 Apr
-
Closure of Trading Window
25 Mar - Trading window closed from April 1, 2026 until 48 hours after audited Q4 FY2026 results; board date to be intimated.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Business Overview:[1][2]
TNECL is one of the major manufacturers of thermo mechanically treated (TMT) bars and billets in South India. It also manufactures of High Density Polyethylene (HDPE)/ Poly Propylene (PP) sacks and Flexible Intermediate Bulk Containers (FIBC). The company's
operation are divided in 3 divisions viz.
a) Steel division:
The company manufactures TMT Bars, Sponge Iron, Billets, and Ingots. TMT Bars are primarily used in the construction sector.
b) Synthetics division:
TNECL produces PP Woven Sacks, FIBC (Flexible Intermediate Bulk Containers), and Woven Fabric, catering to the packaging needs of industries such as cement, fertilizers, food grains, sugar, among others.
c) Power division:
It also operates under an Independent Power Producer (IPP) model, supplying thermal power through power exchanges and third-party agreements