Technocrats Plasma Systems Ltd
Incorporated in 1994, Technocrats Plasma Systems Ltd. is an engineering-focused company engaged in providing plasma-
based surface treatment and coating
solutions for industrial applications.[1]
- Market Cap ₹ 706 Cr.
- Current Price ₹ 403
- High / Low ₹ 455 / 218
- Stock P/E 37.2
- Book Value ₹ 0.00
- Dividend Yield 0.00 %
- ROCE 67.0 %
- ROE 56.1 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company has a good return on equity (ROE) track record: 3 Years ROE 66.0%
- Debtor days have improved from 122 to 58.3 days.
Cons
* 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 Other Industrial Products
Part of BSE SME IPO
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 4 | 6 | 49 | 131 | |
| Sales growth | +36% | +715% | +166% | |
| 4 | 5 | 41 | 105 | |
| Operating Profit | 1 | 1 | 9 | 26 |
| OPM % | 18% | 22% | 18% | 20% |
| 0 | 0 | 0 | 0 | |
| Interest | 1 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 |
| Profit before tax | 0 | 1 | 8 | 25 |
| Tax % | -1,567% | -173% | -5% | 40% |
| 2 | 2 | 8 | 15 | |
| EPS in Rs | 1.44 | 2.10 | 7.24 | 11.60 |
| Dividend Payout % | -0% | -0% | -0% | -0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 209% |
| TTM: | 166% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 115% |
| TTM: | 84% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 66% |
| Last Year: | 56% |
Balance Sheet
Figures in Rs. Crores
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 13 | -0.00 |
| Reserves | -0 | 2 | 13 | 26 | -0 |
| 7 | 7 | 10 | 15 | -0 | |
| 4 | 3 | 12 | 18 | -0 | |
| Total Liabilities | 12 | 14 | 37 | 72 | -0 |
| 2 | 1 | 1 | 2 | -0 | |
| CWIP | -0 | -0 | -0 | -0 | -0 |
| Investments | -0 | -0 | -0 | -0 | -0 |
| 10 | 12 | 35 | 70 | -0 | |
| Total Assets | 12 | 14 | 37 | 72 | -0 |
Cash Flows
Figures in Rs. Crores
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| -1 | 2 | -5 | -12 | |
| -0 | 0 | -0 | -1 | |
| 1 | -2 | 5 | 13 | |
| Net Cash Flow | -0 | 0 | -0 | 0 |
| Free Cash Flow | -1 | 2 | -5 | -13 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -139% | 156% | -46% | -36% |
Ratios
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor Days | 281 | 197 | 110 | 58 |
| Inventory Days | 1,173 | 986 | 153 | 123 |
| Days Payable | 274 | 198 | 92 | 42 |
| Cash Conversion Cycle | 1,180 | 985 | 172 | 140 |
| Working Capital Days | 204 | 119 | 121 | 122 |
| ROCE % | 16% | 50% | 67% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
- Brickwork report for quarter ended 30 Sep 2026 shows no deviation; Rs 26.85 crore utilized of Rs 60.98 crore raised.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Submitted H1 FY27 investor call transcript; discussed 20,000 sq ft facility, INR60 crore order book, FY27 growth guidance.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Audio recording of investor conference call hosted on 04 November 2026 uploaded online.
- Announcement under Regulation 30 (LODR)-Investor Presentation
-
Revised Outcome Of The Board Meeting Held On 31St October, 2026.
- Approved unaudited half-year results for 30 September 2026; corrected board meeting date and typographical errors.
Concalls
-
Nov 2026Transcript PPT REC
-
Aug 2026PPT
** Business Profile:**[1]
Technocrats Plasma Systems Ltd. (TPSL) is an engineering-led manufacturer of plasma cutting machines, welding equipment, and customised automation systems used in metal fabrication and allied industries.