Tanfac Industries Ltd.

•

tanfac.comBSE: -NSE: TANFACIND

Market Cap₹ 6,482 Cr.

Current Price

High / Low₹ 14 / 13

Stock P/E95.8

Book Value₹ 302

Price to Book9.27

Dividend Yield0.07 %

ROCE42.3 %

ROE32.5 %

Face Value₹ 5

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ABOUT

AI Sector View

AI GENERATED

Chemicals

Hold

The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.

Confidence

55%

View full sector analysis →

PROS

Company has delivered good profit growth of 39.0% CAGR over last 5 years
Company has a healthy return on capital (ROCE) of 42.0%
Company has a good return on equity (ROE) track record: 3 Years ROE 31.0%
Company has delivered good sales growth of 27.6% CAGR over last 5 years
Working capital cycle has improved - days down from 131 to 91
Company comfortably covers its interest (25.8x coverage)

CONS

Recent results are weak - TTM profit is down 29.7% versus prior year
Promoter holding has decreased over last 2 years: -3.1pp
Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.56x)
Stock is trading at 9.3x its book value

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ChemicalsChemicalsChemicals

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	SOLARINDS	21410.70	97.29	193745.54	0.05	666.37	88.98	3668.20	70.26	38.16	27.91
2.	PIDILITIND	1632.00	62.71	166117.97	1.32	8835.10	1202.86	45515.50	1112.74	32.38	26.28
3.	SRF	2605.00	35.72	77218.67	0.35	758.87	75.53	5033.26	34.63	14.21	24.57
4.	FLUOROCHEM	4691.60	83.80	51537.23	0.06	219.00	19.02	1588.00	23.97	9.58	26.83
5.	NAVINFLUOR	8697.20	56.51	44623.69	0.17	243.31	107.67	1045.08	44.07	21.39	34.17
6.	GODREJIND	1155.90	33.12	38936.61	0.00	523.36	-27.85	5448.09	22.16	10.64	12.82
7.	DEEPAKNTR	1727.25	30.08	23558.49	0.43	345.01	207.36	2577.60	36.39	11.58	20.96
8.	AETHER	1656.35	93.47	21984.38	0.00	62.75	33.45	326.56	27.49	11.65	31.47
9.	ATUL	6465.50	23.93	19035.57	0.46	253.93	91.85	1847.95	25.03	15.05	21.41
10.	AARTIIND	501.75	34.27	18199.81	0.20	155.00	260.47	2387.00	42.42	6.95	16.00
11.	DEEPAKFERT	1356.30	17.46	17179.29	0.74	490.04	100.95	3256.26	22.47	12.12	25.96
12.	TANFACIND	3056.30	95.83	6482.08	0.07	16.85	-12.92	187.18	6.35	42.32	15.27

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	106	81	88	103	95	112	178	172	176	169	173	193	187
	82	66	73	86	80	84	128	136	147	142	147	163	164
Operating Profit	24	16	15	16	16	27	50	36	29	27	26	30	23
OPM %	22.73%	19.21%	16.62%	15.90%	16.40%	24.36%	28.24%	20.80%	16.45%	15.93%	14.93%	15.71%	12.24%
	3	2	1	2	1	1	0	1	1	1	0	1	1
Interest	0	0	0	0	0	0	1	1	1	1	1	1	1
Depreciation	2	2	2	2	2	2	3	4	4	4	5	5	5
Profit before Tax	25	15	14	16	15	26	46	31	25	23	20	25	24
Tax %	25.70%	25.72%	26.05%	22.79%	25.43%	25.62%	25.11%	27.12%	21.50%	24.22%	23.36%	27.84%	29.07%
Net Profit	18	11	10	13	11	19	35	23	19	17	16	18	17
	18.44	11.40	10.10	12.70	11.32	19.36	34.89	11.40	19.40	17.22	15.61	9.04	8.43

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	133	126	162	222	165	148	320	375	378	557	722
	125	112	141	169	138	115	244	299	306	426	616
Operating Profit	9	14	21	53	27	33	76	76	72	131	106
OPM %	6.57%	11.46%	12.97%	23.70%	16.26%	22.50%	23.79%	20.30%	19.00%	23.53%	14.68%
	4	1	0	1	1	1	3	8	7	3	2
Interest	8	7	7	4	2	1	2	2	2	5	4
Depreciation	5	5	5	8	5	8	6	6	7	10	18
Profit before Tax	0	3	10	42	22	25	72	75	70	119	92
Tax %	-6.90%	0.00%	1.20%	13.61%	21.50%	30.27%	25.94%	25.62%	25.09%	25.78%	26.27%
Net Profit	0	3	10	36	17	17	53	56	52	88	68
EPS	0.40	3.30	9.70	36.06	17.02	17.52	53.42	56.27	52.61	88.37	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	16.85%	11.55%	13.30%	10.18%	—

COMPOUNDED SALES GROWTH

10 Years:: 17%
5 Years:: 28%
3 Years:: 20%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 39%
3 Years:: 18%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: -11%
1 Year:: 112%

RETURN ON EQUITY

10 Years:: 64%
5 Years:: 33%
3 Years:: 31%
Last Year:: 33%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	10	10	10	10	10	10	10	10	10	10
	-10	-7	3	38	55	73	124	174	220	302
	56	54	43	12	0	0	0	0	0	41
Trade Payables	21	11	17	26	11	26	35	46	45	39
	14	9	16	22	13	22	25	41	43	64
Total Liabilities	92	78	88	107	89	131	193	272	319	457
	49	45	41	34	33	40	40	55	61	168
Capital Work in Progress	0	0	0	1	6	3	12	6	29	8
	0	1	1	1	1	23	42	67	67	9
	18	11	17	30	17	25	42	53	59	90
	0	0	0	0	0	0	0	0	61	99
Cash & Bank	0	0	0	1	0	6	13	13	9	38
	24	21	29	40	32	34	44	78	34	45
Total Assets	92	78	88	107	89	131	193	272	319	457

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	16	15	15	44	27	40	63	60	34	33
Cash from Investing	-1	-1	-1	-3	-9	-34	-35	-40	-30	-42
Cash from Financing	-15	-15	-17	-34	-12	-1	-5	-6	-7	32
	-0	0	-0	0	-0	2	5	-3	-3	23

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	0.40	3.30	9.70	36.06	17.02	17.52	53.42	56.27	52.61	88.37
Book Value (₹)	0.06	3.26	12.67	48.15	65.36	83.44	134.03	184.74	231.02	312.76
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	9.00	6.50	7.00	9.00
Cash EPS (₹)	2.59	4.02	7.33	22.05	10.83	13.01	29.52	31.31	29.82	49.43
PROFITABILITY
Operating Margin %	6.21%	10.98%	12.90%	24.13%	16.97%	23.42%	24.85%	22.42%	19.00%	23.53%
Net Margin %	0.27%	2.37%	5.85%	16.22%	10.30%	11.82%	16.64%	14.97%	13.88%	15.83%
ROE %	0.00%	198.92%	121.81%	118.59%	29.98%	23.54%	49.13%	35.31%	25.31%	32.50%
ROCE %	12.42%	17.76%	28.95%	78.46%	37.20%	35.16%	68.20%	48.88%	34.69%	42.32%
	0.43%	3.88%	11.65%	36.76%	17.27%	15.86%	32.85%	24.15%	17.77%	22.72%
EFFICIENCY
Debtor Days	46	47	39	35	45	42	23	37	54	53
Inventory Days	49	38	31	39	52	51	38	46	54	49
Payable Days	94	99	62	74	80	100	67	68	78	52
	0	-14	7	-1	18	-7	-6	15	30	49
FINANCIAL HEALTH
Debt to Equity (x)	11.08x	16.56x	3.44x	0.25x	0.01x	0.00x	0.00x	0.00x	0.00x	0.13x
Interest Coverage (x)	1.05x	1.46x	2.49x	11.85x	13.67x	23.69x	36.56x	34.45x	38.25x	25.82x
	0.48x	0.45x	0.66x	1.47x	2.58x	1.97x	2.49x	2.51x	2.62x	2.01x
GROWTH
Revenue Growth %	11.18%	-5.20%	28.08%	36.96%	-25.67%	-10.26%	116.49%	17.11%	0.85%	47.29%
Operating Profit Growth %	10.66%	67.12%	40.05%	150.77%	-47.72%	23.86%	129.71%	5.63%	-6.08%	69.75%
Net Profit Growth %	107.59%	720.56%	193.90%	271.65%	-52.81%	2.94%	204.93%	5.34%	-6.50%	67.96%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-6.50%	67.96%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	37.39x	32.80x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	8.52x	9.27x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.36%	0.31%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	24.74x	21.60x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	51.81	51.81	51.81	51.81	51.81	51.81	51.81	51.81	48.73
	0.00	0.00	0.00	0.14	0.08	0.12	0.10	0.03	1.53
	0.19	0.39	0.39	0.42	0.39	0.42	0.39	0.33	4.16
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	48.00	47.80	47.80	47.62	47.72	47.65	47.70	47.83	45.58

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

No announcements filed.

News

Recent coverage and analyst commentary for TANFACIND

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Tanfac Industries Ltd.

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Name

SOLARINDS

21410.70

97.29

193745.54

0.05

666.37

88.98

3668.20

70.26

38.16

27.91

PIDILITIND

1632.00

62.71

166117.97

1.32

8835.10

1202.86

45515.50

1112.74

32.38

26.28

SRF

2605.00

35.72

77218.67

0.35

758.87

75.53

5033.26

34.63

14.21

24.57

FLUOROCHEM

4691.60

83.80

51537.23

0.06

219.00

19.02

1588.00

23.97

9.58

26.83

NAVINFLUOR

8697.20

56.51

44623.69

0.17

243.31

107.67

1045.08

44.07

21.39

34.17

GODREJIND

1155.90

33.12

38936.61

0.00

523.36

-27.85

5448.09

22.16

10.64

12.82

DEEPAKNTR

1727.25

30.08

23558.49

0.43

345.01

207.36

2577.60

36.39

11.58

20.96

AETHER

1656.35

93.47

21984.38

0.00

62.75

33.45

326.56

27.49

11.65

31.47

ATUL

6465.50

23.93

19035.57

0.46

253.93

91.85

1847.95

25.03

15.05

21.41

AARTIIND

501.75

34.27

18199.81

0.20

155.00

260.47

2387.00

42.42

6.95

16.00

DEEPAKFERT

1356.30

17.46

17179.29

0.74

490.04

100.95

3256.26

22.47

12.12

25.96

TANFACIND

3056.30

95.83

6482.08

0.07

16.85

-12.92

187.18

6.35

42.32

15.27

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

106

103

112

178

172

176

169

173

193

187

128

136

147

142

147

163

164

Operating Profit

OPM %

22.73%

19.21%

16.62%

15.90%

16.40%

24.36%

28.24%

20.80%

16.45%

15.93%

14.93%

15.71%

12.24%

Interest

Depreciation

Profit before Tax

Tax %

25.70%

25.72%

26.05%

22.79%

25.43%

25.62%

25.11%

27.12%

21.50%

24.22%

23.36%

27.84%

29.07%

Net Profit

18.44

11.40

10.10

12.70

11.32

19.36

34.89

11.40

19.40

17.22

15.61

9.04

8.43

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

133

126

162

222

165

148

320

375

378

557

722

125

112

141

169

138

115

244

299

306

426

616

Operating Profit

131

106

OPM %

6.57%

11.46%

12.97%

23.70%

16.26%

22.50%

23.79%

20.30%

19.00%

23.53%

14.68%

Interest

Depreciation

Profit before Tax

119

Tax %

-6.90%

0.00%

1.20%

13.61%

21.50%

30.27%

25.94%

25.62%

25.09%

25.78%

26.27%

Net Profit

EPS

0.40

3.30

9.70

36.06

17.02

17.52

53.42

56.27

52.61

88.37

—

Dividend Payout %

0.00%

16.85%

11.55%

13.30%

10.18%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-10

-7

124

174

220

302

Trade Payables

Total Liabilities

107

131

193

272

319

457

168

Capital Work in Progress

Cash & Bank

Total Assets

107

131

193

272

319

457

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Cash from Investing

-1

-3

-9

-34

-35

-40

-30

-42

Cash from Financing

-15

-17

-34

-12

-1

-5

-6

-7

-0

-3

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

0.40

3.30

9.70

36.06

17.02

17.52

53.42

56.27

52.61

88.37

Book Value (₹)

0.06

3.26

12.67

48.15

65.36

83.44

134.03

184.74

231.02

312.76

Dividend per Share (₹)

0.00

9.00

6.50

7.00

9.00

Cash EPS (₹)

2.59

4.02

7.33

22.05

10.83

13.01

29.52

31.31

29.82

49.43

PROFITABILITY

Operating Margin %

6.21%

10.98%

12.90%

24.13%

16.97%

23.42%

24.85%

22.42%

19.00%

23.53%

Net Margin %

0.27%

2.37%

5.85%

16.22%

10.30%

11.82%

16.64%

14.97%

13.88%

15.83%

ROE %

0.00%

198.92%

121.81%

118.59%

29.98%

23.54%

49.13%

35.31%

25.31%

32.50%

ROCE %

12.42%

17.76%

28.95%

78.46%

37.20%

35.16%

68.20%

48.88%

34.69%

42.32%

0.43%

3.88%

11.65%

36.76%

17.27%

15.86%

32.85%

24.15%

17.77%

22.72%

EFFICIENCY

Debtor Days

Inventory Days

Payable Days

100

-14

-1

-7

-6

FINANCIAL HEALTH

Debt to Equity (x)

11.08x

16.56x

3.44x

0.25x

0.01x

0.00x

0.13x

Interest Coverage (x)

1.05x

1.46x

2.49x

11.85x

13.67x

23.69x

36.56x

34.45x

38.25x

25.82x

0.48x

0.45x

0.66x

1.47x

2.58x

1.97x

2.49x

2.51x

2.62x

2.01x

GROWTH

Revenue Growth %

11.18%

-5.20%

28.08%

36.96%

-25.67%

-10.26%

116.49%

17.11%

0.85%

47.29%

Operating Profit Growth %

10.66%

67.12%

40.05%

150.77%

-47.72%

23.86%

129.71%

5.63%

-6.08%

69.75%

Net Profit Growth %

107.59%

720.56%

193.90%

271.65%

-52.81%

2.94%

204.93%

5.34%

-6.50%

67.96%

0.00%

-6.50%

67.96%

VALUATION

P/E (x)

0.00x

37.39x

32.80x

P/B (x)

0.00x

8.52x

9.27x

Dividend Yield %

0.00%

0.36%

0.31%

0.00x

24.74x

21.60x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

51.81

48.73

0.00

0.14

0.08

0.12

0.10

0.03

1.53

0.19

0.39

0.42

0.39

0.42

0.39

0.33

4.16

Government

0.00

48.00

47.80

47.62

47.72

47.65

47.70

47.83

45.58

Tanfac Industries Ltd.

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Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

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Shareholding Pattern

Documents

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Tanfac Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI