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 ₹ 57.9 Cr.
- Current Price ₹ 35.2
- High / Low ₹ 49.4 / 17.1
- Stock P/E
- Book Value ₹ 113
- Dividend Yield 0.00 %
- ROCE 1.57 %
- ROE -29.6 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.31 times its book value
Cons
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 5.44% over past five years.
- Company has a low return on equity of -23.2% over last 3 years.
- Promoters have pledged 99.6% of their holding.
- Earnings include an other income of Rs.32.2 Cr.
- Company's cost of borrowing seems high
- 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,293 | 919 | 534 | 705 | 837 | 750 | 620 | 850 | 1,022 | 977 | 868 | 808 | |
| 1,258 | 851 | 501 | 692 | 803 | 719 | 594 | 831 | 1,005 | 975 | 854 | 808 | |
| Operating Profit | 35 | 68 | 33 | 13 | 34 | 32 | 26 | 19 | 17 | 2 | 14 | -0 |
| OPM % | 3% | 7% | 6% | 2% | 4% | 4% | 4% | 2% | 2% | 0% | 2% | -0% |
| 4 | 4 | -2 | -7 | 4 | 1 | 197 | 804 | 213 | 18 | 3 | 32 | |
| Interest | 78 | 96 | 122 | 142 | 230 | 227 | 206 | 7 | 14 | 42 | 67 | 74 |
| Depreciation | 19 | 17 | 25 | 26 | 25 | 26 | 25 | 25 | 26 | 25 | 23 | 22 |
| Profit before tax | -58 | -42 | -116 | -163 | -217 | -220 | -8 | 791 | 189 | -48 | -73 | -64 |
| Tax % | -27% | -15% | -19% | -1% | 1% | -1% | 40% | 0% | -30% | 3% | 0% | 0% |
| -43 | -36 | -94 | -161 | -219 | -219 | -12 | 791 | 246 | -49 | -73 | -64 | |
| EPS in Rs | -28.52 | -23.67 | -62.77 | -107.41 | -146.30 | -146.14 | -7.71 | 527.25 | 147.45 | -29.47 | -43.54 | -39.08 |
| Dividend Payout % | -1% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | -1% |
| 5 Years: | 5% |
| 3 Years: | -8% |
| TTM: | -7% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | -13% |
| 5 Years: | 11% |
| 3 Years: | % |
| TTM: | 13% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | % |
| 3 Years: | -17% |
| 1 Year: | -18% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -23% |
| Last Year: | -30% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 17 | 17 | 16 | 16 |
| Reserves | 85 | 50 | -52 | -212 | -431 | -649 | -661 | 129 | 379 | 327 | 233 | 169 |
| 795 | 822 | 1,125 | 1,190 | 1,334 | 1,472 | 1,559 | 638 | 377 | 335 | 372 | 406 | |
| 476 | 389 | 131 | 189 | 188 | 235 | 69 | 160 | 161 | 177 | 205 | 214 | |
| Total Liabilities | 1,371 | 1,275 | 1,220 | 1,181 | 1,105 | 1,072 | 982 | 942 | 933 | 856 | 827 | 806 |
| 332 | 325 | 745 | 726 | 702 | 680 | 656 | 635 | 573 | 550 | 529 | 509 | |
| CWIP | 270 | 292 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 7 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 770 | 658 | 473 | 455 | 403 | 392 | 325 | 307 | 360 | 304 | 291 | 296 | |
| Total Assets | 1,371 | 1,275 | 1,220 | 1,181 | 1,105 | 1,072 | 982 | 942 | 933 | 856 | 827 | 806 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -201 | 112 | 9 | 149 | 109 | 41 | 235 | 864 | 340 | 15 | 39 | 3 | |
| -37 | -29 | -13 | 8 | 5 | -4 | -3 | -5 | -0 | 53 | -10 | 38 | |
| 267 | -115 | 6 | -209 | -118 | -37 | -229 | -862 | -330 | -80 | -30 | -40 | |
| Net Cash Flow | 28 | -31 | 2 | -51 | -4 | -0 | 3 | -3 | 10 | -12 | -1 | 1 |
| Free Cash Flow | -245 | 82 | -10 | 144 | 112 | 38 | 234 | 860 | 336 | 68 | 28 | 40 |
| CFO/OP | -575% | 167% | 27% | 1,170% | 319% | 132% | 913% | 4,641% | 2,041% | 869% | 280% | -700% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 111 | 131 | 141 | 141 | 107 | 115 | 99 | 67 | 37 | 40 | 41 | 44 |
| Inventory Days | 47 | 69 | 122 | 65 | 58 | 64 | 74 | 46 | 47 | 37 | 40 | 33 |
| Days Payable | 101 | 115 | 90 | 79 | 56 | 59 | 30 | 35 | 41 | 57 | 77 | 75 |
| Cash Conversion Cycle | 58 | 85 | 173 | 128 | 110 | 119 | 143 | 78 | 42 | 20 | 5 | 2 |
| Working Capital Days | 52 | 49 | -206 | -263 | -275 | -341 | -358 | -147 | 2 | -23 | -56 | -37 |
| ROCE % | 3% | 6% | 1% | -1% | 1% | 1% | 0% | -1% | -1% | -3% | -1% | 2% |
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 ・Standalone data |
|
|||||||||||
| Synthetics Production MT ・Standalone data |
||||||||||||
| Power Generation Lac Units ・Standalone data |
||||||||||||
| Power Installed Capacity (Thermal) MW ・Standalone data |
||||||||||||
Extracted by Screener AI
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
31 May - Newspaper Advertisement - Audited Financials Results of the Company for the quarter and year ended March 31, 2026.
-
Outcome Of Board Meeting Held On May 30, 2026 And Audited Standalone And Consolidated Financial Results-Revised
30 May - FY26 results approved; Whole Time Director resigned May 8, 2026; auditors issued qualified opinion on receivables.
- Audited Standalone And Consolidated Financial Results Of The Company For The Quarter And Year Ended March 31, 2026 30 May
-
Board Meeting Outcome for Outcome Of Board Meeting Held On May 30, 2026
30 May - FY26 audited results show qualified opinion; WTD S. Chandrasekaran resigned effective 8 May 2026.
-
Compliances-Reg.24(A)-Annual Secretarial Compliance
26 May - Submitted Annual Secretarial Compliance Report for FY ended March 31, 2026.
Annual reports
-
Financial Year 2025
from bse
-
Financial Year 2024
from bse
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from bse
-
Financial Year 2012
from bse
-
Financial Year 2011
from bse
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