Tirupati Starch & Chemicals Ltd

₹ 138 -4.79%

21 Aug - 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 ₹ 132 Cr.
Current Price ₹ 138
High / Low ₹ 219 / 115
Stock P/E 23.3
Book Value ₹ 70.0
Dividend Yield 0.00 %
ROCE 10.2 %
ROE 10.1 %
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 9.46% 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

Fast Moving Consumer Goods Fast Moving Consumer Goods Food Products Other Food Products

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	75.25	61.60	86.79	82.48	86.23	103.27	99.22	97.50	92.23	89.23	91.94	89.86	91.63
	71.13	57.68	81.14	75.56	83.64	98.25	85.83	93.78	85.47	84.99	86.00	82.05	86.39
Operating Profit	4.12	3.92	5.65	6.92	2.59	5.02	13.39	3.72	6.76	4.24	5.94	7.81	5.24
OPM %	5.48%	6.36%	6.51%	8.39%	3.00%	4.86%	13.50%	3.82%	7.33%	4.75%	6.46%	8.69%	5.72%
	0.08	0.06	0.12	0.13	0.10	0.13	-0.10	3.89	0.13	0.37	2.13	0.10	0.12
Interest	2.12	1.96	2.50	3.52	2.67	2.75	2.49	2.80	2.98	2.54	2.43	2.28	2.44
Depreciation	1.41	1.87	2.10	2.37	1.93	2.08	2.01	1.83	2.18	2.01	2.11	2.13	1.89
Profit before tax	0.67	0.15	1.17	1.16	-1.91	0.32	8.79	2.98	1.73	0.06	3.53	3.50	1.03
Tax %	17.91%	80.00%	10.26%	52.59%	8.90%	-106.25%	15.70%	48.32%	5.78%	100.00%	30.31%	30.29%	24.27%
	0.55	0.04	1.06	0.55	-2.08	0.66	7.41	1.54	1.62	0.01	2.46	2.44	0.78
EPS in Rs	0.68	0.05	1.11	0.57	-2.17	0.69	7.73	1.61	1.69	0.01	2.57	2.54	0.81
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	364	306	386	363	363
	343	285	361	338	339
Operating Profit	21	21	25	25	23
OPM %	6%	7%	6%	7%	6%
	1	0	4	3	3
Interest	8	10	11	10	10
Depreciation	6	8	8	8	8
Profit before tax	8	3	10	9	8
Tax %	14%	31%	26%	27%
	7	2	8	6	6
EPS in Rs	8.12	2.28	7.85	6.74	5.93
Dividend Payout %	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	%
3 Years:	0%
TTM:	-8%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	-1%
TTM:	-49%

Stock Price CAGR
10 Years:	17%
5 Years:	23%
3 Years:	18%
1 Year:	-23%

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

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	8	10	10	10
Reserves	38	44	51	58
	90	154	136	110
	33	19	34	33
Total Liabilities	169	227	230	210
	55	93	98	134
CWIP	46	27	40	0
Investments	0	0	0	0
	68	107	92	76
Total Assets	169	227	230	210

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	23	-34	49	42
	-25	-32	-26	-7
	9	59	-24	-35
Net Cash Flow	8	-7	-1	-0
Free Cash Flow	-3	-65	22	35
CFO/OP	116%	-159%	198%	174%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	33	41	37	30
Inventory Days	19	83	54	50
Days Payable	30	13	24	28
Cash Conversion Cycle	22	111	68	53
Working Capital Days	-2	23	-5	-12
ROCE %		8%	10%	10%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Starch and Dextrose products revenue share
% of total revenue ・Standalone data

	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
	xxx	xxx	xxx	xxx		xxx		xxx	xxx	xxx
		xx			xx	xx		xx	xx
xx	xxx								xxx

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Permanent employee count
employees ・Standalone data

Bank limit utilization
% ・Standalone data

Maize milling capacity
TPD ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	67.99%	68.05%	73.04%	73.04%	73.04%	73.04%	73.04%	73.04%	72.92%	72.88%	72.88%	72.88%
	0.30%	0.30%	0.26%	0.26%	0.26%	0.26%	0.26%	0.26%	0.26%	0.13%	0.13%	0.13%
	31.71%	31.64%	26.71%	26.71%	26.71%	26.71%	26.71%	26.71%	26.83%	26.98%	27.00%	26.99%
No. of Shareholders	10,660	10,698	10,645	10,774	10,950	10,952	10,847	10,863	10,717	10,648	10,576	10,545

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	56.87%	56.87%	56.85%	57.51%	63.01%	63.03%	67.99%	73.04%	73.04%	72.88%	72.88%
	0.61%	0.61%	0.61%	0.61%	0.35%	0.35%	0.30%	0.26%	0.26%	0.13%	0.13%
	42.52%	42.52%	42.55%	41.89%	36.64%	36.62%	31.72%	26.71%	26.71%	27.00%	26.99%
No. of Shareholders	11,955	11,785	11,031	10,800	10,760	10,736	10,723	10,645	10,847	10,576	10,545

* 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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