Tega Industries Ltd.

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tegaindustries.comBSE: 543413NSE: TEGA

Market Cap₹ 13,005 Cr.

Current Price

High / Low₹ 2,125 / 1,473

Stock P/E615.5

Book Value₹ 439

Price to Book3.65

Dividend Yield0.12 %

ROCE8.4 %

ROE5.9 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Consumables: 84.2% • Equipments: 15.8%

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%

View full sector analysis →

PROS

Company is almost debt free
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 16.0% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.49x)
Company comfortably covers its interest (9.3x coverage)
Company generates healthy free cash flow

CONS

Recent results are weak - TTM profit is down 100.3% versus prior year
A large part of profit comes from other income (70.2% of PBT)
Promoter holding has decreased over last 2 years: -7.3pp
Valuation is stretched - P/E of 615.5 is well above its own 5-year median (42.7)
Working capital days have increased from 180 to 578 days
Company has delivered a poor profit growth of 0.9% over past five years

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

Peer comparison

Capital GoodsCapital GoodsEngineering - Industrial Equipments

Part ofNIFTY TOTAL MKT NIFTY 500 NIFTY SMLCAP 250

S.No.	Name
1.	BHEL	430.60	61.64	149937.65	0.33	376.71	182.70	7697.72	40.29	9.24	6.69
2.	INDOMIM	1018.90	94.43	50382.66	0.58	2401.22	—	12187.42	—	24.48	33.36
3.	THERMAX	3680.25	73.91	43852.50	0.54	21.79	-85.61	2302.73	7.09	15.85	2.98
4.	HONAUT	34514.05	55.37	30515.68	0.32	150.70	20.95	1204.40	1.80	17.04	14.32
5.	JYOTICNC	987.95	69.84	22468.26	0.00	57.14	-19.99	508.47	23.97	21.34	21.40
6.	INOXINDIA	2245.75	80.12	20418.91	0.09	58.07	-4.98	370.79	9.18	33.54	20.46
7.	AZAD	2846.00	132.25	18379.96	0.00	35.16	19.46	172.60	25.90	12.04	37.29
8.	TRITURBINE	569.10	53.80	18091.60	0.75	511.00	693.48	4427.00	1092.30	35.95	11.59
9.	TEGA	1731.10	615.52	13005.36	0.12	-108.25	-406.36	1723.44	383.99	8.37	3.27
10.	LLOYDSENGG	82.72	57.36	12830.19	0.30	68.23	-77.28	527.15	142.92	17.99	15.04
11.	KRN	1595.75	107.75	10445.54	0.00	32.90	164.84	252.32	118.87	16.06	19.44
12.	KENNAMET	4681.40	87.86	10288.89	0.00	31.50	11.31	267.30	12.55	18.99	17.51

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
	268	377	340	507	340	353	409	536	356	405	404	527	1,723
	229	296	284	368	276	319	318	386	300	336	358	467	1,858
Operating Profit	39	82	56	139	64	34	91	150	56	69	46	60	-135
OPM %	14.68%	21.64%	16.49%	27.39%	18.90%	9.72%	22.31%	27.96%	15.61%	17.07%	11.44%	11.42%	-7.82%
	8	3	7	4	12	13	11	7	16	16	14	37	17
Interest	8	9	8	7	7	7	6	7	6	6	6	5	117
Depreciation	14	14	14	22	23	27	26	26	23	23	24	25	74
Profit before Tax	26	62	41	113	46	14	70	123	42	56	31	66	-116
Tax %	20.46%	25.70%	15.51%	22.46%	23.53%	59.50%	24.63%	18.01%	18.80%	24.49%	39.82%	37.14%	7.06%
Net Profit	0	0	0	0	37	7	54	102	35	45	20	43	-108
	3.22	7.13	5.36	13.48	5.52	1.08	8.15	15.32	5.31	6.75	2.83	5.68	-11.47

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	497	549	634	685	806	952	1,214	1,493	1,639	1,692	3,059
	467	475	536	577	617	768	943	1,176	1,298	1,519	3,019
Operating Profit	31	73	98	108	189	184	271	317	341	173	41
OPM %	6.20%	13.40%	15.49%	15.75%	23.44%	19.33%	22.29%	21.22%	20.79%	10.23%	1.33%
	24	22	9	11	51	24	22	22	43	141	84
Interest	20	22	25	23	19	17	19	33	28	24	133
Depreciation	35	33	38	38	40	39	41	64	101	95	146
Profit before Tax	0	40	46	59	184	155	236	247	259	201	37
Tax %	2472.16%	29.78%	29.67%	-10.57%	25.81%	24.57%	22.05%	21.51%	22.79%	29.07%	115.40%
Net Profit	-2	28	33	66	136	117	184	194	200	143	-6
EPS	-0.40	4.21	4.90	9.84	20.48	17.63	27.73	29.14	30.08	18.99	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	7.21%	6.86%	6.65%	10.53%	—

COMPOUNDED SALES GROWTH

10 Years:: 12%
5 Years:: 16%
3 Years:: 12%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 1%
3 Years:: -8%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: 21%
1 Year:: -15%

RETURN ON EQUITY

10 Years:: 13%
5 Years:: 15%
3 Years:: 13%
Last Year:: 6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	58	58	58	58	58	66	66	67	67	75
	282	311	335	396	547	670	983	1,125	1,330	3,332
	230	241	240	282	218	217	327	268	292	348
Trade Payables	79	71	81	65	99	97	112	183	222	334
	87	77	68	55	71	107	130	228	147	155
Total Liabilities	736	757	781	857	993	1,156	1,618	1,871	2,058	4,243
	271	260	280	263	292	294	545	597	619	657
Capital Work in Progress	5	2	2	6	7	10	12	11	46	107
	94	82	77	158	201	199	217	279	262	227
	112	110	121	133	159	252	290	370	415	437
	0	0	0	0	0	277	403	447	501	452
Cash & Bank	31	59	20	37	48	40	49	87	121	2,122
	223	244	282	260	285	84	102	80	95	241
Total Assets	736	757	781	857	993	1,156	1,618	1,871	2,058	4,243

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	65	52	83	148	201	14	179	252	195	350
Cash from Investing	-14	8	-13	-101	-80	-26	-234	-91	-132	-1,004
Cash from Financing	-44	-21	-93	-9	-79	3	63	-115	-38	1,690
	2	31	-38	18	12	-9	8	46	25	1,036

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.79	74.79	74.80	74.80	74.80	74.80	67.27	67.50	67.50
	1.70	1.77	1.68	1.73	1.75	1.87	1.48	2.14	2.80
	18.94	19.11	19.02	18.76	18.38	10.72	18.61	18.95	18.66
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	4.58	4.34	4.50	4.71	5.08	12.60	12.65	11.41	11.04

Documents

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

2026-09-11

General Updates

2026-09-11 - Tega Industries Limited has informed the Exchange about General Updates

2026-09-08

General Updates

2026-09-08 - Tega Industries Limited has informed the Exchange about General Updates

2026-09-08

General Updates

2026-09-08 - Tega Industries Limited has informed the Exchange about General Updates

2026-09-08

Spurt in Volume

2026-09-08 - Significant increase in volume has been observed in Tega Industries Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Tega Industries Limited has submitted their response.

2026-09-07

Spurt in Volume

2026-09-07 - Significant increase in volume has been observed in Tega Industries Limited. The Exchange, in order to ensure that 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 to the company. The response from the company is awaited.

2026-09-02

Copy of Newspaper Publication

2026-09-02 - Tega Industries Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-02

General Updates

2026-09-02 - Tega Industries Limited has informed the Exchange about General Updates

2026-09-01

General Updates

2026-09-01 - Tega Industries Limited has informed the Exchange about Record date.

2026-09-01

General Updates

2026-09-01 - Tega Industries Limited has informed the Exchange about date of payment of dividend.