Tirupati Sarjan Ltd
Incorporated in 1995, Tirupati Sarjan Ltd undertakes civil construction and real estate development business.[1]
- Market Cap ₹ 27.4 Cr.
- Current Price ₹ 8.31
- High / Low ₹ 16.0 / 7.99
- Stock P/E 5.81
- Book Value ₹ 27.7
- Dividend Yield 0.00 %
- ROCE 9.08 %
- ROE 5.95 %
- Face Value ₹ 5.00
Pros
- Company has reduced debt.
- Stock is trading at 0.30 times its book value
- Debtor days have improved from 75.8 to 52.6 days.
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 4.91% over last 3 years.
- Contingent liabilities of Rs.89.9 Cr.
* 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
Consumer Discretionary Realty Realty Residential, Commercial Projects
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 126 | 161 | 117 | 129 | 165 | 140 | 120 | 66 | 91 | 157 | 194 | 221 | 216 | |
| 115 | 149 | 107 | 116 | 150 | 126 | 108 | 56 | 81 | 145 | 181 | 209 | 205 | |
| Operating Profit | 12 | 12 | 10 | 12 | 15 | 14 | 11 | 10 | 11 | 12 | 13 | 12 | 11 |
| OPM % | 9% | 8% | 9% | 10% | 9% | 10% | 10% | 15% | 12% | 7% | 7% | 6% | 5% |
| 2 | 3 | 5 | 4 | 2 | 2 | 2 | 1 | 2 | 1 | 2 | 2 | 1 | |
| Interest | 5 | 5 | 6 | 7 | 7 | 8 | 8 | 8 | 9 | 8 | 7 | 5 | 4 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 9 | 10 | 8 | 9 | 9 | 7 | 5 | 2 | 2 | 4 | 6 | 7 | 7 |
| Tax % | 28% | 30% | 29% | 34% | 35% | 30% | 34% | 33% | 27% | 27% | 35% | 31% | |
| 6 | 7 | 6 | 6 | 6 | 5 | 3 | 1 | 2 | 3 | 4 | 5 | 5 | |
| EPS in Rs | 2.57 | 2.55 | 1.94 | 1.83 | 1.69 | 1.59 | 0.92 | 0.35 | 0.51 | 0.92 | 1.20 | 1.56 | 1.47 |
| Dividend Payout % | 0% | 14% | 28% | 16% | 18% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 3% |
| 5 Years: | 13% |
| 3 Years: | 34% |
| TTM: | 0% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | -3% |
| 5 Years: | 11% |
| 3 Years: | 45% |
| TTM: | 0% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | -11% |
| 5 Years: | 4% |
| 3 Years: | -5% |
| 1 Year: | -43% |
| Return on Equity | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 4% |
| 3 Years: | 5% |
| Last Year: | 6% |
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 | 12 | 13 | 15 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 |
| Reserves | 22 | 31 | 35 | 44 | 49 | 54 | 57 | 59 | 61 | 64 | 68 | 73 | 75 |
| 37 | 38 | 40 | 34 | 35 | 48 | 49 | 57 | 50 | 56 | 60 | 47 | 45 | |
| 64 | 68 | 84 | 76 | 67 | 61 | 64 | 45 | 44 | 72 | 74 | 59 | 69 | |
| Total Liabilities | 135 | 151 | 174 | 169 | 168 | 180 | 187 | 177 | 172 | 208 | 218 | 195 | 205 |
| 6 | 6 | 5 | 5 | 4 | 5 | 5 | 4 | 5 | 8 | 9 | 9 | 9 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 6 | 5 | 4 | 7 | 7 | 7 | 9 | 9 | 9 | 11 | 14 | 14 | 13 |
| 122 | 140 | 165 | 157 | 156 | 168 | 173 | 164 | 158 | 189 | 195 | 173 | 184 | |
| Total Assets | 135 | 151 | 174 | 169 | 168 | 180 | 187 | 177 | 172 | 208 | 218 | 195 | 205 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 7 | 4 | -11 | 4 | 2 | -5 | 12 | -3 | 10 | 8 | 6 | 17 | |
| -1 | 3 | 4 | 1 | 1 | 0 | -1 | 1 | -1 | -6 | -3 | 2 | |
| -6 | 2 | -3 | -5 | -1 | 6 | -8 | 0 | -14 | -1 | -2 | -17 | |
| Net Cash Flow | -0 | 9 | -11 | -1 | 2 | 2 | 3 | -2 | -5 | 1 | 0 | 1 |
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 | 8 | 16 | 49 | 27 | 34 | 41 | 75 | 66 | 33 | 101 | 73 | 53 |
| Inventory Days | 530 | 345 | 876 | 611 | 337 | 492 | 581 | 1,370 | 988 | 414 | 353 | 262 |
| Days Payable | 179 | 107 | 203 | 170 | 134 | 282 | 412 | 471 | 252 | 226 | 173 | 139 |
| Cash Conversion Cycle | 359 | 254 | 723 | 468 | 237 | 252 | 244 | 965 | 770 | 289 | 252 | 175 |
| Working Capital Days | 32 | 9 | 65 | 21 | 4 | -9 | 10 | 71 | 109 | 73 | 80 | 61 |
| ROCE % | 20% | 19% | 17% | 18% | 16% | 14% | 11% | 8% | 9% | 9% | 9% | 9% |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from Construction/Real Estate Division Rs. Lacs |
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| Revenue from Tender/Infra Division Rs. Lacs |
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| Total Projects Executed (Lifetime) Number |
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| Debtors Turnover Ratio Times |
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| Number of Permanent Employees Number |
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| Order Book Value Rs. Crore |
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Documents
Announcements
- Financial Results For Quarter And Nine Month Ended On 31St December, 2025 14 Feb
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Board Meeting Outcome for Outcome Of Board Meeting Under Regulation 30 Of SEBI (LODR) Regulations, 2015
14 Feb - Board approved standalone Q3 and nine-month results for Dec 31, 2025; limited review attached.
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Board Meeting Intimation for Board Meeting Pursuant To Regulation 29 Of SEBI (LODR) Regulations, 2015 To Be Held On Saturday, 14Th February, 2026.
4 Feb - Board meeting 14 Feb 2026 to approve unaudited results for quarter ended 31 Dec 2025; trading window closed.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
8 Jan - Certificate under Reg 74(5) confirming no dematerialisation requests for quarter ended Dec 31, 2025.
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Closure of Trading Window
31 Dec 2025 - Trading window closed Jan 1, 2026 until 48 hours after unaudited Q4 (Dec 31, 2025) results.
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
from bse
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Financial Year 2023
from bse
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Financial Year 2022
from bse
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Financial Year 2021
from bse
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Financial Year 2020
from bse
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Financial Year 2019
from bse
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Financial Year 2018
from bse
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Financial Year 2017
from bse
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Financial Year 2016
from bse
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
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Financial Year 2011
from bse
Business Overview:[1][2]
TSL is registered as a Class AA contractor with the Government of Gujarat. It specialises in developing residential, commercial, and government projects. The company undertakes civil construction work, such as commercial and institutional buildings, construction of hospitals, colleges, and infrastructure development work, like road development, bridges, and canals, as well as irrigation work for government bodies
in Gujarat.