Tankup Engineers Ltd
Incorporated in 2020, Tankup Engineers
Ltd designs and manufactures mobility
and storage solutions for special-purpose applications[1]
- Market Cap ₹ 885 Cr.
- Current Price ₹ 1,672
- High / Low ₹ 1,824 / 390
- Stock P/E 185
- Book Value ₹ 56.1
- Dividend Yield 0.00 %
- ROCE 19.0 %
- ROE 26.3 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 34.2%
Cons
- Stock is trading at 29.8 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has high debtors of 246 days.
* 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 Nifty SME Emerge
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 1.40 | 11.81 | 19.42 | 20.30 | 57.25 | |
| 1.31 | 10.52 | 16.01 | 17.80 | 50.03 | |
| Operating Profit | 0.09 | 1.29 | 3.41 | 2.50 | 7.22 |
| OPM % | 6.43% | 10.92% | 17.56% | 12.32% | 12.61% |
| 0.00 | 0.04 | 0.12 | 0.17 | 0.76 | |
| Interest | 0.02 | 0.19 | 0.35 | 0.59 | 1.88 |
| Depreciation | 0.02 | 0.20 | 0.16 | 0.21 | 0.22 |
| Profit before tax | 0.05 | 0.94 | 3.02 | 1.87 | 5.88 |
| Tax % | 20.00% | 15.96% | 17.55% | 18.72% | 18.88% |
| 0.05 | 0.79 | 2.48 | 1.52 | 4.78 | |
| EPS in Rs | 0.29 | 2.82 | 8.86 | 3.90 | 9.03 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 69% |
| TTM: | 182% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 82% |
| TTM: | 214% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 203% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 36% |
| 3 Years: | 34% |
| Last Year: | 26% |
Balance Sheet
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 0.15 | 0.25 | 0.25 | 3.90 | 5.30 |
| Reserves | 0.05 | 0.86 | 3.34 | 2.76 | 24.39 |
| 1.42 | 2.57 | 3.70 | 9.47 | 36.05 | |
| 0.70 | 4.99 | 3.14 | 5.40 | 6.80 | |
| Total Liabilities | 2.32 | 8.67 | 10.43 | 21.53 | 72.54 |
| 0.73 | 0.78 | 0.67 | 0.84 | 2.70 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.24 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 1.59 | 7.89 | 9.76 | 20.69 | 69.60 | |
| Total Assets | 2.32 | 8.67 | 10.43 | 21.53 | 72.54 |
Cash Flows
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| -0.60 | -0.66 | -0.80 | -5.80 | -34.36 | |
| -0.54 | -0.30 | -0.05 | -0.91 | -1.39 | |
| 1.22 | 1.10 | 0.70 | 6.73 | 36.46 | |
| Net Cash Flow | 0.08 | 0.14 | -0.15 | 0.01 | 0.71 |
| Free Cash Flow | -1.09 | -0.91 | -0.85 | -6.18 | -36.68 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -667% | -38% | -7% | -218% | -464% |
Ratios
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 62.57 | 98.90 | 59.20 | 110.04 | 245.84 |
| Inventory Days | 342.19 | 151.94 | 171.16 | 350.77 | 164.21 |
| Days Payable | 228.12 | 135.15 | 51.41 | 130.48 | 39.86 |
| Cash Conversion Cycle | 176.63 | 115.69 | 178.96 | 330.33 | 370.18 |
| Working Capital Days | 20.86 | 26.58 | 60.14 | 90.80 | 123.62 |
| ROCE % | 42.64% | 61.44% | 21.01% | 18.96% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|
| Actual Production Volume MT |
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| Capacity Utilization % |
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| Infrastructure End-Use Industry Revenue Share % |
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| Number of Customers count |
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| Refueller Revenue Share % |
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| Top 10 Customer Concentration % |
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| Uttar Pradesh Revenue Concentration % |
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Extracted by Screener AI
Documents
Announcements
-
Certificate under SEBI (Depositories and Participants) Regulations, 2018
- Submitted Regulation 74(5) certificate for quarter ended September 30, 2026; shares remain fully dematerialised.
-
Shareholders meeting
- 6th AGM scrutinizer report: all four resolutions passed on September 29, 2026.
-
Shareholders meeting
- Tankup Engineers held 6th AGM on 29 Sep 2026; shareholders approved financials, director reappointment, and borrowing limits.
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Trading Window
- Trading window closes from October 1, 2026 for September 30, 2026 half-year unaudited results.
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Acquisition
- Tankup signed agreement on 9 Sep 2026 to acquire 100% of Hitech Hydraulics, strengthening space and defence capabilities.
Core Business and Products[1]
The company manufactures specialised vehicle superstructures and mobile storage solutions for liquids, gases and solids, including mobile refuellers, water sprinklers, service vans, explosive vans, tank trucks, blasting shelters and workshop containers. It serves petroleum, mining, infrastructure, defence and industrial sectors, and offers IoT-enabled diesel refuellers with GPS tracking, dispensing systems and smart locks. It listed on the NSE SME platform on 30 Apr’25 following its IPO.