Tirupati Forge Ltd

₹ 38.4 -2.76%

18 Sep - close price

About

Incorporated in 2012, co manufactures mass quantity Carbon Steel Forged Flanges, Forged componets and other automotive components^[1]

Key Points

Product Offerings
The company offers closed-die forged products, including auto components, bearings, gears, and forged flanges made from mild steel, carbon steel, and stainless steel, under its brand Tirupati, for applications in the automotive, aerospace, construction, marine, power, etc. ^[1]

Website NSE

Market Cap ₹ 458 Cr.
Current Price ₹ 38.4
High / Low ₹ 72.9 / 28.2
Stock P/E 68.8
Book Value ₹ 9.05
Dividend Yield 0.00 %
ROCE 12.4 %
ROE 10.0 %
Face Value ₹ 2.00

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Pros

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Promoter holding has decreased over last 3 years: -8.27%

* 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 Castings & Forgings

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
	25.33	26.53	16.78	23.39	20.88	23.65	32.36	33.11	29.06	32.28	26.14	27.50	32.30
	20.96	22.00	14.60	19.87	18.48	20.72	28.39	29.62	24.38	27.45	23.55	24.40	28.62
Operating Profit	4.37	4.53	2.18	3.52	2.40	2.93	3.97	3.49	4.68	4.83	2.59	3.10	3.68
OPM %	17.25%	17.08%	12.99%	15.05%	11.49%	12.39%	12.27%	10.54%	16.10%	14.96%	9.91%	11.27%	11.39%
	0.70	0.54	0.24	0.33	0.11	0.25	0.14	0.42	0.19	0.30	0.40	0.43	0.62
Interest	0.30	0.19	0.36	0.22	0.27	0.26	0.41	0.39	0.38	0.51	0.31	0.44	0.73
Depreciation	0.64	0.63	0.65	0.78	0.70	0.86	0.91	0.97	1.03	1.02	0.94	1.39	1.67
Profit before tax	4.13	4.25	1.41	2.85	1.54	2.06	2.79	2.55	3.46	3.60	1.74	1.70	1.90
Tax %	25.18%	24.71%	27.66%	25.26%	25.97%	25.73%	26.16%	24.31%	24.86%	26.39%	25.29%	24.12%	25.79%
	3.08	3.19	1.02	2.14	1.14	1.53	2.05	1.92	2.60	2.64	1.31	1.30	1.41
EPS in Rs	0.31	0.33	0.10	0.22	0.12	0.16	0.21	0.19	0.25	0.25	0.13	0.11	0.12
Raw PDF

Profit & Loss

Figures in Rs. Crores

	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
	7	30	18	16	21	42	28	31	88	92	110	115	118
	6	28	16	14	18	35	25	28	78	77	97	100	104
Operating Profit	1	3	2	2	3	7	2	3	11	15	13	15	14
OPM %	9%	9%	9%	12%	15%	17%	9%	9%	12%	16%	12%	13%	12%
	0	0	0	0	0	0	0	0	1	2	1	1	2
Interest	0	1	1	0	0	0	1	0	1	1	1	2	2
Depreciation	0	1	1	1	1	1	2	2	2	3	3	4	5
Profit before tax	0	1	0	1	2	6	0	1	8	13	9	11	9
Tax %		26%	32%	30%	28%	28%	27%	27%	26%	25%	26%	25%
	-0	1	0	0	2	4	0	0	6	9	7	8	7
EPS in Rs	-0.01	0.62	0.15	0.44	0.19	0.51	0.03	0.04	0.63	0.96	0.64	0.66	0.61
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	3%	0%	0%	0%

Compounded Sales Growth
10 Years:	14%
5 Years:	33%
3 Years:	9%
TTM:	0%

Compounded Profit Growth
10 Years:	27%
5 Years:	95%
3 Years:	8%
TTM:	-18%

Stock Price CAGR
10 Years:	%
5 Years:	68%
3 Years:	38%
1 Year:	3%

Return on Equity
10 Years:	16%
5 Years:	15%
3 Years:	15%
Last Year:	10%

Balance Sheet

Figures in Rs. Crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0.79	0.79	0.79	0.79	6	6	10	11	20	20	21	24
Reserves	1	1	1	2	5	9	8	10	7	17	29	83
	7	6	5	4	0	5	5	8	11	10	13	26
	1	6	2	3	2	3	3	5	15	5	11	13
Total Liabilities	10	14	10	10	13	22	25	34	52	51	74	146
	5	5	5	5	4	10	13	14	14	15	19	37
CWIP	0	0	0	0	0	0	0	0	0	0	8	18
Investments	0	0	0	0	0	0	0	0	0	0	0	0
	5	9	5	6	8	12	12	20	38	36	47	90
Total Assets	10	14	10	10	13	22	25	34	52	51	74	146

Cash Flows

Figures in Rs. Crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-0	3	3	2	-1	2	3	-3	1	5	10	6
	-5	-1	-1	-1	-1	-7	-5	-3	-3	-3	-15	-38
	6	-2	-2	-2	2	4	2	5	2	-2	9	61
Net Cash Flow	0	-0	0	-0	0	-0	1	-1	1	-1	4	29

Ratios

Figures in Rs. Crores

	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	56	37	25	44	49	45	36	52	66	64	53	55
Inventory Days	150	68	80	104	123	70	134	229	147	143	162	127
Days Payable	103	92	44	107	32	23	56	92	99	30	60	54
Cash Conversion Cycle	103	12	62	41	140	93	115	189	114	178	155	127
Working Capital Days	159	34	6	8	97	61	73	95	56	86	69	106
ROCE %	9%	21%	12%	16%	27%	41%	4%	4%	28%	32%	18%	12%

Shareholding Pattern

Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Aug 2025
	57.59%	57.59%	57.59%	57.69%	57.69%	57.69%	55.76%	55.76%	55.76%	48.88%	49.31%	48.10%
	0.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.03%	0.03%	0.02%	0.02%	0.02%
	41.75%	42.41%	42.41%	42.31%	42.31%	42.31%	44.23%	44.21%	44.20%	51.10%	50.67%	51.88%
No. of Shareholders	16,391	19,629	23,726	33,774	42,478	50,841	64,869	69,776	69,704	68,889	66,427	66,427

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Aug 2025
	68.15%	69.25%	62.40%	58.03%	58.78%	57.59%	57.69%	48.88%	48.10%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.02%
	31.86%	30.75%	37.60%	41.97%	41.21%	42.41%	42.31%	51.10%	51.88%
No. of Shareholders	105	108	90	464	9,285	19,629	50,841	68,889	66,427

* 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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