Thejo Engineering Ltd

₹ 1,584 0.91%

18 Mar 3:42 p.m.

About

Thejo Engineering Ltd., incorporated in 1986, is an Engineering Solutions provider for Bulk Material Handling, Mineral Processing and Corrosion Protection to the Core Sector Industries like mining, power, steel, cement, ports and fertilisers. ^[1]

Key Points

Business Profile^[1]
Established in 1986, the company has over four decades of engineering expertise and has evolved from a conveyor belt service provider into a fully integrated engineering solutions company. It serves 600+ global customers across mining, metals, cement, power, chemicals, and other industries, supported by 2,300+ employees under a Products, Services, and O&M lifecycle model.

Website NSE

Market Cap ₹ 1,718 Cr.
Current Price ₹ 1,584
High / Low ₹ 2,486 / 1,446
Stock P/E 32.2
Book Value ₹ 265
Dividend Yield 0.31 %
ROCE 26.7 %
ROE 20.8 %
Face Value ₹ 10.0

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Pros

Company has delivered good profit growth of 29.6% CAGR over last 5 years

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 Manufacturing Industrial Products

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	83	90	95	99	97	100	100	102	112	123	111	126	133
	70	80	79	81	78	85	81	82	90	100	95	103	114
Operating Profit	13	10	16	19	19	16	19	20	22	23	15	23	19
OPM %	15%	11%	17%	19%	20%	16%	19%	20%	20%	19%	14%	18%	14%
	1	-0	0	0	1	-0	0	1	0	0	1	2	-2
Interest	1	1	1	1	1	1	1	1	1	1	1	1	1
Depreciation	2	2	3	3	4	5	3	4	4	4	3	1	2
Profit before tax	10	7	12	15	16	10	15	16	18	19	13	23	14
Tax %	25%	27%	26%	26%	26%	26%	26%	26%	26%	26%	26%	26%	25%
	8	5	8	11	12	7	11	12	13	14	9	17	11
EPS in Rs	7.15	4.68	7.93	10.12	10.75	6.65	10.41	10.91	11.98	12.81	8.69	15.89	9.94
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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
	136	169	157	147	173	190	201	213	277	332	391	436	493
	117	152	140	131	152	163	175	178	230	285	322	351	412
Operating Profit	20	17	17	17	20	26	26	35	47	47	69	85	81
OPM %	14%	10%	11%	11%	12%	14%	13%	16%	17%	14%	18%	19%	16%
	1	1	1	1	1	1	1	3	1	2	2	1	2
Interest	4	5	6	6	5	4	3	3	2	4	4	4	4
Depreciation	3	5	4	4	4	4	5	6	7	8	15	15	10
Profit before tax	13	8	8	8	13	19	19	29	39	37	51	67	69
Tax %	34%	32%	31%	32%	31%	29%	27%	25%	25%	26%	26%	26%
	9	5	6	6	9	14	14	21	29	28	38	50	51
EPS in Rs	8.46	5.31	5.43	5.45	8.46	13.17	13.21	20.44	27.45	25.77	35.35	46.11	47.33
Dividend Payout %	14%	22%	21%	21%	16%	13%	13%	10%	7%	8%	8%	11%

Compounded Sales Growth
10 Years:	10%
5 Years:	17%
3 Years:	16%
TTM:	19%

Compounded Profit Growth
10 Years:	25%
5 Years:	30%
3 Years:	20%
TTM:	23%

Stock Price CAGR
10 Years:	%
5 Years:	30%
3 Years:	6%
1 Year:	-3%

Return on Equity
10 Years:	17%
5 Years:	19%
3 Years:	19%
Last Year:	21%

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	3	3	3	3	3	3	3	4	11	11	11	11	11
Reserves	57	61	65	71	78	90	103	123	143	169	206	255	277
	31	36	39	41	26	23	16	12	23	28	29	20	30
	41	49	43	28	40	41	50	54	61	79	76	79	89
Total Liabilities	133	149	150	143	148	158	172	192	237	287	323	364	406
	23	22	21	20	23	24	23	32	48	85	84	79	93
CWIP	1	0	0	1	1	0	0	1	1	2	2	0	3
Investments	9	16	19	20	20	21	21	23	23	23	30	33	33
	101	111	110	102	104	113	128	136	165	177	206	252	277
Total Assets	133	149	150	143	148	158	172	192	237	287	323	364	406

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
	6	10	12	8	21	18	16	28	19	47	40	46
	-11	-11	-11	-3	-0	-5	-2	-7	-7	-45	-24	-18
	1	-0	-3	-4	-21	-9	-12	-16	-9	0	-5	-15
Net Cash Flow	-5	-1	-2	1	0	5	1	4	3	3	12	13

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	126	117	121	140	132	116	132	123	111	97	95	103
Inventory Days	106	111	199	185	167	213	251	239	218	177	185	172
Days Payable	94	121	154	137	170	181	200	194	156	172	136	132
Cash Conversion Cycle	137	107	166	188	129	148	182	168	173	101	145	142
Working Capital Days	49	41	45	52	61	65	80	93	97	72	78	91
ROCE %	21%	14%	13%	12%	16%	20%	18%	24%	26%	21%	24%	27%

Insights

In beta

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Production Volume - Adhesives
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Production Volume - Moulded and Extruded Products
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Total Permanent Employees (on rolls)
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Product Patents Awarded
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Number of Branch Offices (India)
number

Operations & Maintenance (O&M) Sites
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Technical Service Sites
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Order Book (Standalone)
Rs. Crore

Shareholding Pattern

Numbers in percentages

	Sep 2022	Mar 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	54.44%	54.34%	54.22%	54.15%	54.02%	53.64%	53.63%	53.62%	53.62%	53.62%	53.62%	53.61%
	0.00%	0.14%	0.00%	0.00%	0.49%	0.12%	0.23%	0.66%	0.67%	0.65%	0.66%	0.79%
	0.00%	0.45%	0.72%	0.72%	0.76%	0.89%	2.41%	2.45%	3.02%	3.20%	3.34%	3.14%
	45.56%	45.07%	45.06%	45.13%	44.72%	45.36%	43.72%	43.27%	42.69%	42.53%	42.38%	42.46%
No. of Shareholders	1,220	1,156	1,449	3,611	4,342	5,468	7,249	7,743	7,670	8,045	8,345	8,070

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Dec 2025
	57.24%	56.70%	56.70%	56.63%	56.25%	55.32%	54.71%	54.34%	54.02%	53.62%	53.61%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.14%	0.49%	0.67%	0.79%
	22.36%	22.25%	12.06%	11.24%	8.37%	0.00%	0.00%	0.45%	0.76%	3.02%	3.14%
	20.41%	21.05%	31.23%	32.13%	35.39%	44.67%	45.30%	45.07%	44.72%	42.69%	42.46%
No. of Shareholders	234	224	258	252	359	608	1,038	1,156	4,342	7,670	8,070

* 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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Thejo Engineering Ltd

Thejo Engineering Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

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Shareholding Pattern

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