Tarsons Products Ltd.

344.952.27%

2026-08-21

tarsons.comBSE: 543399NSE: TARSONS
Market Cap₹ 1,825 Cr.
Current Price₹ 337
High / Low₹ 375 / 164
Stock P/E164.5
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%

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

EDIT COLUMNS
S.No.NameCMP Rs.P/EMar Cap Rs.Cr.Div Yld %NP Qtr Rs.Cr.Qtr Profit Var %Sales Qtr Rs.Cr.Qtr Sales Var %ROCE %OPM %
1.SUPREMEIND3610.5044.4245863.051.00280.7238.762717.664.1621.4917.33
2.ASTRAL1539.0071.8441345.260.26120.2051.771578.0015.9319.9514.65
3.GRWRHITECH7048.1542.2216374.540.17132.6559.78633.0827.9020.4127.17
4.SHAILY3367.7587.6115490.050.0948.0116.75280.6713.7719.5529.59
5.FINPIPE158.2015.959815.941.74114.5216.67883.58-15.3017.4012.09
6.TIMETECHNO190.9019.249423.500.791178.601120.7116927.101151.4018.1613.25
7.KINGFA5772.150.007822.060.0080.21101.58688.5749.0630.7016.12
8.RESPONIND156.7041.244177.760.062.74-94.51192.87-43.0610.7612.09
9.POLYPLEX1174.3523.743686.570.26171.07386.022253.6229.621.5113.15
10.PRINCEPIPE283.050.003129.430.35337.496900.416094.18949.973.9212.66
11.NILKAMAL2030.7024.313030.320.9824.4059.20819.73-7.1810.769.44
12.TARSONS343.05164.511825.240.00-1.44-180.99110.2420.677.0423.57
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022
85
41
Operating Profit
OPM %
Other Income
3
Interest
0
Depreciation
7
39
Tax %
24.89%
Net Profit
0
6
Equity Capital
11
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
11
Reserves
0
Promoter Pledge %
0.00%
Dec 2023
62
39
Operating Profit
OPM %
Other Income
3
Interest
3
Depreciation
10
14
Tax %
26.72%
Net Profit
0
2
Equity Capital
11
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
11
Reserves
0
Promoter Pledge %
0.00%
Mar 2024
106
75
Operating Profit
OPM %
Other Income
3
Interest
4
Depreciation
12
17
Tax %
39.50%
Net Profit
0
2
Equity Capital
11
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
11
Reserves
0
Promoter Pledge %
0.00%
Jun 2024
85
66
Operating Profit
OPM %
Other Income
3
Interest
4
Depreciation
11
6
Tax %
36.39%
Net Profit
4
1
Equity Capital
11
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
11
Reserves
0
Promoter Pledge %
0.00%
Sep 2024
99
74
Operating Profit
OPM %
Other Income
8
Interest
5
Depreciation
14
15
Tax %
30.73%
Net Profit
10
2
Equity Capital
11
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
11
Reserves
0
Promoter Pledge %
0.00%
Dec 2024
96
66
Operating Profit
OPM %
Other Income
1
Interest
5
Depreciation
17
8
Tax %
34.66%
Net Profit
5
1
Equity Capital
11
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
11
Reserves
0
Promoter Pledge %
0.00%
Mar 2025
113
76
Operating Profit
OPM %
Other Income
4
Interest
5
Depreciation
20
16
Tax %
34.49%
Net Profit
10
2
Equity Capital
11
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
11
Reserves
0
Promoter Pledge %
0.00%
Jun 2025
91
67
Operating Profit
OPM %
Other Income
3
Interest
5
Depreciation
20
3
Tax %
41.25%
Net Profit
2
0
Equity Capital
11
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
11
Reserves
0
Promoter Pledge %
0.00%
Sep 2025
102
75
Operating Profit
OPM %
Other Income
6
Interest
5
Depreciation
22
6
Tax %
40.61%
Net Profit
3
1
Equity Capital
11
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
11
Reserves
0
Promoter Pledge %
0.00%
Dec 2025
108
76
Operating Profit
OPM %
Other Income
8
Interest
6
Depreciation
25
8
Tax %
32.89%
Net Profit
5
1
Equity Capital
11
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
11
Reserves
0
Promoter Pledge %
0.00%
Mar 2026
121
87
Operating Profit
OPM %
Other Income
7
Interest
6
Depreciation
29
6
Tax %
27.56%
Net Profit
4
1
Equity Capital
11
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
11
Reserves
0
Promoter Pledge %
0.00%
Jun 2026
110
118
Operating Profit
OPM %
Other Income
6
Interest
6
Depreciation
27
-1
Tax %
-9.06%
Net Profit
-1
-0
Equity Capital
11
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
11
Reserves
0
Promoter Pledge %
0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021
229
126
Operating Profit
109
OPM %
48
Other Income
6
Interest
3
Depreciation
14
92
Tax %
25
Net Profit
69
EPS
13
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
14
Minority Interest
0
Share of Associates
0
Adjusted EPS
14
Mar 2022
301
148
Operating Profit
161
OPM %
54
Other Income
8
Interest
4
Depreciation
22
135
Tax %
25
Net Profit
101
EPS
19
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
19
Minority Interest
0
Share of Associates
0
Adjusted EPS
19
Mar 2024
296
197
Operating Profit
111
OPM %
38
Other Income
11
Interest
10
Depreciation
40
61
Tax %
30
Net Profit
43
EPS
8
Dividend Payout %
25
Minority Interest
0
Share of Associates
0
Adjusted EPS
8
Minority Interest
0
Share of Associates
0
Adjusted EPS
8
Mar 2025
392
282
Operating Profit
127
OPM %
32
Other Income
16
Interest
20
Depreciation
62
45
Tax %
34
Net Profit
30
EPS
6
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
6
Minority Interest
0
Share of Associates
0
Adjusted EPS
6
TTM
441
355
Operating Profit
OPM %
Other Income
27
Interest
24
Depreciation
104
18
Tax %
37
Net Profit
11
EPS
Dividend Payout %
Minority Interest
0
Share of Associates
0
Adjusted EPS
Minority Interest
0
Share of Associates
0
Adjusted EPS

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:
-13%
1 Year:
2%

RETURN ON EQUITY

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

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

2024

Sep 20

₹ 1

Rs.2.0000 per share(100%)Final Dividend

Mar 2021
Equity Capital
0
244
30
Trade Payables
6
111
Total Liabilities
392
120
Capital Work in Progress
22
47
0
Cash & Bank
3
200
Total Assets
392
Total Debt
33
Net Working Capital
71
Contingent Liabilities
0
Book Value per Share
12725.94
Face Value
10.00
Total Debt
33
Net Working Capital
71
Contingent Liabilities
0
Book Value per Share
12725.94
Face Value
10.00
Mar 2022
Equity Capital
11
479
12
Trade Payables
13
158
Total Liabilities
673
189
Capital Work in Progress
32
82
0
Cash & Bank
86
284
Total Assets
673
Total Debt
22
Net Working Capital
210
Contingent Liabilities
0
Book Value per Share
92.06
Face Value
2.00
Total Debt
22
Net Working Capital
210
Contingent Liabilities
0
Book Value per Share
92.06
Face Value
2.00
Mar 2024
Equity Capital
11
602
102
Trade Payables
15
259
Total Liabilities
988
336
Capital Work in Progress
267
129
78
Cash & Bank
23
156
Total Assets
988
Total Debt
257
Net Working Capital
22
Contingent Liabilities
2
Book Value per Share
115.19
Face Value
2.00
Total Debt
257
Net Working Capital
22
Contingent Liabilities
2
Book Value per Share
115.19
Face Value
2.00
Mar 2025
Equity Capital
11
620
69
Trade Payables
16
379
Total Liabilities
1,094
536
Capital Work in Progress
233
126
80
Cash & Bank
26
94
Total Assets
1,094
Total Debt
329
Net Working Capital
67
Contingent Liabilities
1
Book Value per Share
118.45
Face Value
2.00
Total Debt
329
Net Working Capital
67
Contingent Liabilities
1
Book Value per Share
118.45
Face Value
2.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021
68
Cash from Investing
-64
Cash from Financing
-27
-23
Free Cash Flow
68
OCF / Net Profit
0.99
Cumulative 5-Year FCF
0
OCF / Net Profit
0.99
Cumulative 5-Year FCF
0
Mar 2022
83
Cash from Investing
-138
Cash from Financing
130
75
Free Cash Flow
-17
OCF / Net Profit
0.83
Cumulative 5-Year FCF
0
OCF / Net Profit
0.83
Cumulative 5-Year FCF
0
Mar 2024
103
Cash from Investing
-285
Cash from Financing
136
-47
Free Cash Flow
-347
OCF / Net Profit
2.41
Cumulative 5-Year FCF
0
OCF / Net Profit
2.41
Cumulative 5-Year FCF
0
Mar 2025
114
Cash from Investing
-145
Cash from Financing
39
8
Free Cash Flow
-114
OCF / Net Profit
3.84
Cumulative 5-Year FCF
0
OCF / Net Profit
3.84
Cumulative 5-Year FCF
0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021
EPS (₹)
3586.98
Book Value (₹)
12725.94
Dividend per Share (₹)
0.00
Cash EPS (₹)
16.22
Operating Margin %
47.54%
Net Margin %
30.09%
ROE %
28.19%
ROCE %
34.25%
17.58%
Debtor Days
75
Inventory Days
74
Payable Days
35
114
Debt to Equity (x)
0.14x
Interest Coverage (x)
34.96x
2.70x
Revenue Growth %
0.00%
Operating Profit Growth %
0.00%
Net Profit Growth %
0.00%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2022
EPS (₹)
18.92
Book Value (₹)
92.06
Dividend per Share (₹)
0.00
Cash EPS (₹)
23.05
Operating Margin %
53.58%
Net Margin %
33.47%
ROE %
27.42%
ROCE %
35.28%
18.90%
Debtor Days
68
Inventory Days
78
Payable Days
55
91
Debt to Equity (x)
0.04x
Interest Coverage (x)
33.02x
7.00x
Revenue Growth %
31.40%
Operating Profit Growth %
48.11%
Net Profit Growth %
46.17%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2024
EPS (₹)
8.01
Book Value (₹)
115.19
Dividend per Share (₹)
2.00
Cash EPS (₹)
15.61
Operating Margin %
33.69%
Net Margin %
14.39%
ROE %
7.73%
ROCE %
10.27%
5.13%
Debtor Days
88
Inventory Days
130
Payable Days
61
157
Debt to Equity (x)
0.42x
Interest Coverage (x)
6.99x
1.10x
Revenue Growth %
-1.46%
Operating Profit Growth %
-30.93%
Net Profit Growth %
-57.64%
-57.64%
P/E (x)
49.17x
P/B (x)
3.42x
Dividend Yield %
0.51%
20.94x
Mar 2025
EPS (₹)
5.60
Book Value (₹)
118.45
Dividend per Share (₹)
0.00
Cash EPS (₹)
17.34
Operating Margin %
28.26%
Net Margin %
7.59%
ROE %
4.79%
ROCE %
7.04%
2.86%
Debtor Days
73
Inventory Days
118
Payable Days
43
149
Debt to Equity (x)
0.52x
Interest Coverage (x)
3.29x
1.35x
Revenue Growth %
32.40%
Operating Profit Growth %
13.94%
Net Profit Growth %
-30.18%
-30.18%
P/E (x)
53.92x
P/B (x)
2.55x
Dividend Yield %
0.00%
15.04x

Shareholding Pattern

Numbers in percentages

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

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