Tarsons Products Ltd.

•

tarsons.comBSE: 543399NSE: TARSONS

Market Cap₹ 1,659 Cr.

Current Price

High / Low₹ 375 / 164

Stock P/E149.5

Book Value₹ 119

Price to Book2.55

Dividend Yield0.00 %

ROCE7.0 %

ROE4.8 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2022 • Plastic Products: 95.7% • Instruments & Equipments: 4.3%

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

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PROS

Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.74x)

CONS

Recent results are weak - TTM profit is down 53.7% versus prior year
A large part of profit comes from other income (35.6% of PBT)
Working capital days have increased from 27 to 62 days
Free cash flow has been persistently negative
Operating margins have contracted to 28.3% from 47.5%

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

Peer comparison

Capital GoodsPlastic ProductsPlastic Products

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

S.No.	Name
1.	SUPREMEIND	3367.00	41.43	42769.95	1.07	280.72	38.76	2717.66	4.16	21.49	17.33
2.	ASTRAL	1410.10	65.83	37882.36	0.28	120.20	51.77	1578.00	15.93	19.95	14.65
3.	GRWRHITECH	6928.55	41.50	16096.68	0.17	132.65	59.78	633.08	27.90	18.08	27.17
4.	SHAILY	3279.80	85.33	15085.52	0.09	48.01	16.75	280.67	13.77	29.46	29.59
5.	FINPIPE	153.55	15.48	9527.42	1.79	114.52	16.67	883.58	-15.30	12.73	12.09
6.	TIMETECHNO	180.90	18.23	8929.86	0.83	1178.60	1120.71	16927.10	1151.40	17.37	13.25
7.	KINGFA	6197.25	37.21	8398.13	0.00	80.21	101.58	688.57	49.06	30.70	16.12
8.	RESPONIND	173.35	45.62	4621.66	0.06	2.74	-94.51	192.87	-43.06	10.76	12.09
9.	POLYPLEX	1135.00	22.94	3563.04	0.26	171.07	386.02	2253.62	29.62	1.51	13.15
10.	NILKAMAL	2054.70	24.60	3066.13	0.97	24.40	59.20	819.73	-7.18	10.76	9.44
11.	XPROINDIA	1294.90	93.05	3039.18	0.15	7.63	239.10	174.42	20.37	4.00	9.08
12.	TARSONS	311.80	149.52	1658.97	0.00	-1.44	-180.99	110.24	20.67	7.04	23.57

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	85	62	106	85	99	96	113	91	102	108	121	110
	41	39	75	66	74	66	76	67	75	76	87	118
Operating Profit	44	23	30	19	25	30	37	25	27	32	34	-7
OPM %	52.20%	37.04%	28.61%	22.12%	25.50%	30.98%	32.85%	27.04%	26.82%	29.21%	28.34%	-6.62%
	3	3	3	3	8	1	4	3	6	7	7	6
Interest	0	3	4	4	5	5	5	5	5	6	6	6
Depreciation	7	10	12	11	14	17	20	20	22	25	29	27
Profit before Tax	39	14	17	6	15	8	16	3	6	8	6	-1
Tax %	24.89%	26.72%	39.50%	36.39%	30.73%	34.66%	34.49%	41.25%	40.61%	32.89%	27.56%	-9.06%
Net Profit	0	0	0	4	10	5	10	2	3	5	4	-1
	5.69	1.87	1.94	0.75	1.93	0.99	1.92	0.34	0.62	0.95	0.79	-0.27

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2024	Mar 2025	TTM
	229	301	296	392	441
	126	148	197	282	355
Operating Profit	103	153	100	111	86
OPM %	45.11%	50.77%	33.69%	28.26%	19.47%
	6	8	11	16	26
Interest	3	4	10	20	24
Depreciation	14	22	40	62	104
Profit before Tax	92	135	61	45	18
Tax %	25.49%	25.43%	29.83%	33.55%	36.76%
Net Profit	69	101	43	30	11
EPS	13.43	19.46	8.01	5.60	—
Dividend Payout %	0.00%	0.00%	24.96%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 20%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: -24%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: -16%
1 Year:: -1%

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 13%
Last Year:: 5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2024	Mar 2025
Equity Capital	0	11	11	11
	244	479	602	620
	37	27	239	334
Trade Payables	6	13	15	16
	105	143	122	115
Total Liabilities	392	673	988	1,094
	120	189	336	536
Capital Work in Progress	22	32	267	233
	47	82	129	126
	0	0	78	80
Cash & Bank	3	86	23	26
	200	284	156	94
Total Assets	392	673	988	1,094

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2024	Mar 2025
	92	117	103	114
Cash from Investing	-64	-138	-285	-145
Cash from Financing	-27	130	136	39
	-23	75	-47	8

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	47.31	47.31	47.31	47.31	47.31	47.31	47.30	47.30	47.30
	7.95	8.04	7.51	9.53	9.14	5.82	2.46	0.87	0.15
	0.11	0.21	0.25	0.04	0.04	0.08	0.00	0.19	0.10
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	44.63	44.45	44.94	43.13	43.52	46.78	50.23	51.64	52.44

Documents

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

2026-09-03

Copy of Newspaper Publication

2026-09-03 - Tarsons Products Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-02

General Updates

2026-09-02 - Tarsons Products Limited has informed the Exchange about General Updates

2026-09-02

Shareholders meeting

2026-09-02 - Tarsons Products Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 24, 2026

2026-08-25

Copy of Newspaper Publication

2026-08-25 - Tarsons Products Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-17

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-17 - Tarsons Products Limited has informed the Exchange about Transcript

2026-08-11

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-11 - Tarsons Products Limited has informed the Exchange about Link of Recording

2026-08-11

Copy of Newspaper Publication

2026-08-11 - Tarsons Products Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-11

Investor Presentation

2026-08-11 - Tarsons Products Limited has informed the Exchange about Investor Presentation

2026-08-10

General Updates

2026-08-10 - Tarsons Products Limited has informed the Exchange about General Updates regarding the Finalization of the date of 43rd Annual General Meeting of the Company.

News

Recent coverage and analyst commentary for TARSONS

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Tarsons Products Ltd.

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Free 5nance Account

Name

SUPREMEIND

3367.00

41.43

42769.95

1.07

280.72

38.76

2717.66

4.16

21.49

17.33

ASTRAL

1410.10

65.83

37882.36

0.28

120.20

51.77

1578.00

15.93

19.95

14.65

GRWRHITECH

6928.55

41.50

16096.68

0.17

132.65

59.78

633.08

27.90

18.08

27.17

SHAILY

3279.80

85.33

15085.52

0.09

48.01

16.75

280.67

13.77

29.46

29.59

FINPIPE

153.55

15.48

9527.42

1.79

114.52

16.67

883.58

-15.30

12.73

12.09

TIMETECHNO

180.90

18.23

8929.86

0.83

1178.60

1120.71

16927.10

1151.40

17.37

13.25

KINGFA

6197.25

37.21

8398.13

0.00

80.21

101.58

688.57

49.06

30.70

16.12

RESPONIND

173.35

45.62

4621.66

0.06

2.74

-94.51

192.87

-43.06

10.76

12.09

POLYPLEX

1135.00

22.94

3563.04

0.26

171.07

386.02

2253.62

29.62

1.51

13.15

NILKAMAL

2054.70

24.60

3066.13

0.97

24.40

59.20

819.73

-7.18

10.76

9.44

XPROINDIA

1294.90

93.05

3039.18

0.15

7.63

239.10

174.42

20.37

4.00

9.08

TARSONS

311.80

149.52

1658.97

0.00

-1.44

-180.99

110.24

20.67

7.04

23.57

Mar 2022

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

106

113

102

108

121

110

118

Operating Profit

-7

OPM %

52.20%

37.04%

28.61%

22.12%

25.50%

30.98%

32.85%

27.04%

26.82%

29.21%

28.34%

-6.62%

Interest

Depreciation

Profit before Tax

-1

Tax %

24.89%

26.72%

39.50%

36.39%

30.73%

34.66%

34.49%

41.25%

40.61%

32.89%

27.56%

-9.06%

Net Profit

-1

5.69

1.87

1.94

0.75

1.93

0.99

1.92

0.34

0.62

0.95

0.79

-0.27

Mar 2021

Mar 2022

Mar 2024

Mar 2025

TTM

229

301

296

392

441

126

148

197

282

355

Operating Profit

103

153

100

111

OPM %

45.11%

50.77%

33.69%

28.26%

19.47%

Interest

Depreciation

104

Profit before Tax

135

Tax %

25.49%

25.43%

29.83%

33.55%

36.76%

Net Profit

101

EPS

13.43

19.46

8.01

5.60

—

Dividend Payout %

0.00%

24.96%

0.00%

—

Mar 2021

Mar 2022

Mar 2024

Mar 2025

Equity Capital

244

479

602

620

239

334

Trade Payables

105

143

122

115

Total Liabilities

392

673

988

1,094

120

189

336

536

Capital Work in Progress

267

233

129

126

Cash & Bank

200

284

156

Total Assets

392

673

988

1,094

Mar 2021

Mar 2022

Mar 2024

Mar 2025

117

103

114

Cash from Investing

-64

-138

-285

-145

Cash from Financing

-27

130

136

-23

-47

Mar 2021

Mar 2022

Mar 2024

Mar 2025

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

47.31

47.30

7.95

8.04

7.51

9.53

9.14

5.82

2.46

0.87

0.15

0.11

0.21

0.25

0.04

0.08

0.00

0.19

0.10

Government

0.00

44.63

44.45

44.94

43.13

43.52

46.78

50.23

51.64

52.44

Tarsons Products 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

Tarsons Products 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