Tirupati Forge Ltd
Incorporated in 2012, co manufactures mass quantity Carbon Steel Forged Flanges, Forged componets and other automotive components[1]
- Market Cap ₹ 479 Cr.
- Current Price ₹ 40.1
- High / Low ₹ 72.9 / 28.2
- Stock P/E 71.9
- Book Value ₹ 9.05
- Dividend Yield 0.00 %
- ROCE 12.4 %
- ROE 9.99 %
- Face Value ₹ 2.00
Pros
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -1.21%
* 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
Quarterly Results
Figures in Rs. Crores
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: | 67% |
| 3 Years: | 35% |
| 1 Year: | -5% |
| 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 | 159 |
| Days Payable | 103 | 92 | 44 | 107 | 32 | 23 | 56 | 92 | 99 | 30 | 60 | 68 |
| Cash Conversion Cycle | 103 | 12 | 62 | 41 | 140 | 93 | 115 | 189 | 114 | 178 | 155 | 145 |
| 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% |
Documents
Announcements
-
Disclosure of material issue
17 October 2025 - Allotted 20,00,000 equity shares on Oct 17, 2025 at Rs32 each via promoter warrant conversion.
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Outcome of Board Meeting
17 October 2025 - Allotment of 20,00,000 shares on Oct 17, 2025 at Rs32 each to promoter; Rs4.8 crore paid.
-
Price movement
9 October 2025 - 09.10.2025: Company tells NSE no undisclosed events; price movements market-driven.
-
Price movement
9 October 2025 - Investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written …
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Agreements
7 October 2025 - Tirupati Forge bought land (4,265.39 sqm) from promoter Bhargavi Thumar for ₹5.75 crore on Oct 6, 2025.
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]