Tirupati Starch & Chemicals Ltd

₹ 131 -12.00%

01 Jun - close price

About

Incorporated in 1985, Tirupati Starch & Chemicals Ltd manufactures Starch, Dextrose Anhydrous, and other Products^[1]

Key Points

Product Profile:^[1]^[2]
a) Main Products:
Maize Starch Powder, Dextrose Anhydrous, Dextrose Monohydrate, Dextrin (White & Yellow), IP Starch, Liquid Glucose, Tyrolese, Vervosize
b) By Products:
Hydrol, Maize Bran, Maize Cattle Feed, Grit, Maize Germ, Maize Gluten, Maize Husk Dry/ Wet, Corn Gluten, and Corn Gem

Website BSE

Market Cap ₹ 126 Cr.
Current Price ₹ 131
High / Low ₹ 219 / 115
Stock P/E 19.1
Book Value ₹ 70.0
Dividend Yield 0.00 %
ROCE 10.3 %
ROE 10.3 %
Face Value ₹ 10.0

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Pros

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Company has low interest coverage ratio.
Company has a low return on equity of 9.48% over last 3 years.

* 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

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	86.02	75.25	61.60	86.79	82.48	86.23	103.27	99.22	97.50	92.23	89.23	91.94	89.86
	78.71	71.13	57.68	81.14	75.68	83.64	98.25	85.82	93.79	85.57	84.77	86.00	82.05
Operating Profit	7.31	4.12	3.92	5.65	6.80	2.59	5.02	13.40	3.71	6.66	4.46	5.94	7.81
OPM %	8.50%	5.48%	6.36%	6.51%	8.24%	3.00%	4.86%	13.51%	3.81%	7.22%	5.00%	6.46%	8.69%
	0.21	0.08	0.06	0.12	0.13	0.10	0.13	-0.10	3.89	0.13	0.37	2.13	0.10
Interest	2.13	2.12	1.96	2.50	3.52	2.67	2.75	2.49	2.80	2.98	2.54	2.43	2.28
Depreciation	1.24	1.41	1.87	2.10	2.37	1.93	2.08	2.01	1.83	2.18	2.01	2.11	2.13
Profit before tax	4.15	0.67	0.15	1.17	1.04	-1.91	0.32	8.80	2.97	1.63	0.28	3.53	3.50
Tax %	3.86%	17.91%	80.00%	10.26%	58.65%	8.90%	-106.25%	15.68%	48.48%	10.43%	21.43%	30.31%	30.29%
	3.98	0.55	0.04	1.06	0.43	-2.08	0.66	7.43	1.53	1.45	0.22	2.46	2.45
EPS in Rs	4.92	0.68	0.05	1.11	0.45	-2.17	0.69	7.75	1.60	1.51	0.23	2.57	2.55
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	59	158	177	199	227	271	200	318	364	306	386	363
	55	152	169	189	216	263	191	298	343	285	361	338
Operating Profit	4	6	8	10	11	8	9	19	21	20	25	25
OPM %	6%	4%	4%	5%	5%	3%	5%	6%	6%	7%	6%	7%
	1	1	2	1	0	0	0	2	1	0	4	3
Interest	1	6	5	4	3	2	3	6	8	10	11	10
Depreciation	2	4	5	5	5	5	5	6	6	8	8	8
Profit before tax	1	-5	0	2	4	2	1	9	8	3	10	9
Tax %	193%	-67%	-3,700%	21%	21%	26%	4%	12%	14%	32%	26%	26%
	-1	-2	1	2	3	1	1	8	7	2	8	7
EPS in Rs	-1.95	-2.48	1.87	2.90	5.32	1.89	1.47	11.80	8.12	2.16	7.86	6.86
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	9%
5 Years:	13%
3 Years:	0%
TTM:	-6%

Compounded Profit Growth
10 Years:	20%
5 Years:	45%
3 Years:	0%
TTM:	-13%

Stock Price CAGR
10 Years:	18%
5 Years:	22%
3 Years:	21%
1 Year:	-20%

Return on Equity
10 Years:	11%
5 Years:	13%
3 Years:	9%
Last Year:	10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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	6	6	6	6	6	6	7	7	8	10	10	10
Reserves	6	4	7	11	15	16	21	29	38	44	51	58
	44	54	49	26	23	22	55	77	90	154	136	110
	27	40	44	65	94	96	51	45	33	19	34	33
Total Liabilities	82	105	107	109	138	140	133	158	169	226	230	210
	61	59	64	65	60	55	71	61	55	93	98	134
CWIP	0	4	0	0	9	18	7	16	46	27	40	0
Investments	0	0	0	0	0	0	0	1	0	0	0	0
	21	43	42	44	69	66	55	80	68	107	91	76
Total Assets	82	105	107	109	138	140	133	158	169	226	230	210

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	17	-4	14	33	5	12	-35	-1	23	-34	49
	-20	-6	-5	-5	-9	-9	-6	-6	-25	-32	-26
	3	10	-8	-28	4	-3	41	7	9	59	-24
Net Cash Flow	0	-0	-0	0	0	-0	-0	-0	8	-7	-1
Free Cash Flow	-6	-11	8	28	-4	3	-41	-6	-3	-65	22
CFO/OP	466%	-76%	179%	330%	56%	138%	-372%	4%	116%	-160%	198%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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	45	44	36	38	61	37	45	35	33	41	37	30
Inventory Days	112	55	43	33	41	48	39	54	19	83	54	50
Days Payable	223	89	58	54	99	154	90	55	30	13	24	28
Cash Conversion Cycle	-66	10	20	17	2	-69	-6	33	22	111	68	53
Working Capital Days	-118	-24	10	6	14	-51	0	21	-2	23	-5	-12
ROCE %	5%	3%	6%	12%	15%	9%	7%	16%	13%	8%	10%	10%

Insights

In beta

Mar 2014

Mar 2015

Mar 2016

Mar 2017

Mar 2018

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Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Export Turnover
INR Lakhs

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Number of Permanent Employees
Count

Capacity Utilization
%

Debtors Days
Days

Gross Cash Accrual Days (GCA)
Days

Maize Grinding Capacity (Installed)
TPD

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	67.99%	67.99%	68.05%	73.04%	73.04%	73.04%	73.04%	73.04%	73.04%	72.92%	72.88%	72.88%
	0.30%	0.30%	0.30%	0.26%	0.26%	0.26%	0.26%	0.26%	0.26%	0.26%	0.13%	0.13%
	31.70%	31.71%	31.64%	26.71%	26.71%	26.71%	26.71%	26.71%	26.71%	26.83%	26.98%	27.00%
No. of Shareholders	10,688	10,660	10,698	10,645	10,774	10,950	10,952	10,847	10,863	10,717	10,648	10,576

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	56.87%	56.87%	56.85%	57.51%	63.01%	63.03%	67.99%	73.04%	73.04%	72.88%
	0.61%	0.61%	0.61%	0.61%	0.35%	0.35%	0.30%	0.26%	0.26%	0.13%
	42.52%	42.52%	42.55%	41.89%	36.64%	36.62%	31.72%	26.71%	26.71%	27.00%
No. of Shareholders	11,955	11,785	11,031	10,800	10,760	10,736	10,723	10,645	10,847	10,576

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Tirupati Starch & Chemicals Ltd

Tirupati Starch & Chemicals Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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