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Tirupati Forge (TIRUPATIFL)₹65.60−0.82%Castings & Forgings
In the Mar 2026 quarter (standalone), Tirupati Forge reported sales of ₹41.94 Cr, up 52.3% from Mar 2025, and net profit of ₹1.53 Cr, up 16.8% year on year. For the year to Mar 2026, sales were ₹162 Cr and net profit ₹6.01 Cr.
Company filings, standalone accounts; latest reported quarter Mar 2026
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 20.90 | 23.67 | 32.40 | 33.10 | 29.05 | 32.29 | 26.17 | 27.53 | 32.34 | 39.66 | 48.62 | 41.94 |
| Expenses | 18.49 | 20.73 | 28.41 | 29.64 | 24.39 | 27.46 | 23.54 | 24.41 | 28.63 | 36.43 | 43.52 | 38.07 |
| Operating Profit | 2.41 | 2.94 | 3.98 | 3.50 | 4.69 | 4.84 | 2.60 | 3.11 | 3.69 | 3.24 | 5.10 | 3.87 |
| OPM % | 11.5% | 12.4% | 12.2% | 10.5% | 16.1% | 14.9% | 9.9% | 11.3% | 11.4% | 8.1% | 10.5% | 9.2% |
| Other Income | 0.12 | 0.26 | 0.15 | 0.43 | 0.20 | 0.31 | 0.41 | 0.44 | 0.63 | 1.07 | 0.67 | 1.14 |
| Interest | 0.28 | 0.27 | 0.42 | 0.40 | 0.39 | 0.52 | 0.32 | 0.45 | 0.74 | 0.66 | 0.88 | 0.81 |
| Depreciation | 0.69 | 0.85 | 0.90 | 0.96 | 1.02 | 1.01 | 0.93 | 1.40 | 1.66 | 1.79 | 2.13 | 2.11 |
| Profit before tax | 1.53 | 2.05 | 2.78 | 2.54 | 3.45 | 3.59 | 1.73 | 1.69 | 1.89 | 1.83 | 2.73 | 2.06 |
| Tax % | 25.9% | 25.7% | 26.1% | 24.3% | 24.8% | 26.3% | 25.2% | 24.0% | 25.8% | 27.1% | 26.2% | 26.5% |
| Net Profit | 1.15 | 1.54 | 2.06 | 1.93 | 2.61 | 2.65 | 1.32 | 1.31 | 1.42 | 1.35 | 2.03 | 1.53 |
| EPS (Rs) | 0.13 | 0.17 | 0.22 | 0.20 | 0.26 | 0.26 | 0.14 | 0.12 | 0.13 | 0.12 | 0.17 | 0.13 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 18.01 | 16.01 | 20.99 | 42.02 | 28.01 | 31.02 | 88.04 | 92.09 | 110 | 115 | 162 | 163 |
| Expenses | 16.01 | 14.01 | 18.01 | 35.01 | 25.01 | 28.01 | 78.05 | 77.04 | 97.06 | 100 | 147 | 147 |
| Operating Profit | 2.01 | 2.01 | 3.01 | 7.01 | 2.01 | 3.01 | 11.02 | 15.03 | 13.03 | 15.04 | 16.02 | 15.90 |
| OPM % | 9.0% | 12.0% | 15.0% | 17.0% | 9.0% | 9.0% | 12.0% | 16.0% | 12.0% | 13.0% | 10.0% | 9.8% |
| Other Income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.01 | 2.01 | 1.01 | 1.01 | 3.01 | 3.51 |
| Interest | 1.01 | 0.00 | 0.00 | 0.00 | 1.01 | 0.00 | 1.01 | 1.01 | 1.01 | 2.01 | 3.01 | 3.09 |
| Depreciation | 1.01 | 0.99 | 0.99 | 0.99 | 1.99 | 1.99 | 1.99 | 2.99 | 2.99 | 4.01 | 7.99 | 7.69 |
| Profit before tax | 0.00 | 0.99 | 1.99 | 5.98 | 0.00 | 0.99 | 7.98 | 12.96 | 8.96 | 10.97 | 8.97 | 8.51 |
| Tax % | 31.9% | 29.9% | 27.9% | 28.0% | 27.0% | 27.0% | 26.0% | 25.0% | 25.9% | 24.9% | 26.0% | — |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.05 | 0.22 | 0.16 | 0.03 | 0.00 | — |
| Net Profit | 0.00 | 0.00 | 2.01 | 4.01 | 0.00 | 0.00 | 6.01 | 9.03 | 7.02 | 8.03 | 6.01 | 6.33 |
| EPS (Rs) | 0.16 | 0.45 | 0.20 | 0.52 | 0.04 | 0.05 | 0.64 | 0.97 | 0.65 | 0.67 | 0.51 | 0.55 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 3.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.78 | 0.78 | 0.79 | 6.00 | 6.00 | 9.99 | 10.99 | 19.99 | 20.02 | 21.01 | 24.01 | 25.00 |
| Reserves | 0.99 | 0.99 | 2.00 | 5.00 | 9.00 | 7.99 | 9.99 | 6.99 | 17.01 | 29.01 | 83.05 | 108 |
| Borrowings | 6.01 | 5.00 | 4.00 | 0.00 | 5.01 | 5.00 | 8.01 | 11.03 | 10.02 | 13.04 | 26.05 | 42.10 |
| Other Liabilities | 6.02 | 2.02 | 3.01 | 2.01 | 3.01 | 3.02 | 5.03 | 15.07 | 5.03 | 11.05 | 13.07 | 29.13 |
| Total Liabilities | 14.01 | 10.00 | 10.01 | 13.01 | 22.02 | 25.00 | 34.02 | 52.08 | 51.08 | 74.11 | 146 | 204 |
| Fixed Assets | 4.98 | 4.99 | 4.99 | 3.99 | 9.98 | 12.96 | 13.97 | 13.95 | 14.96 | 18.95 | 36.91 | 56.88 |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 8.01 | 18.01 | 67.01 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 9.03 | 5.01 | 6.02 | 8.02 | 12.04 | 12.04 | 20.05 | 38.13 | 36.12 | 47.15 | 90.26 | 80.30 |
| Inventories | 3.70 | 2.37 | 2.70 | 3.66 | 4.80 | 5.67 | 10.54 | 15.15 | 15.91 | 22.24 | 23.01 | 23.41 |
| Trade receivables | 3.05 | 1.24 | 1.95 | 2.79 | 5.19 | 2.77 | 4.37 | 16.07 | 16.22 | 15.86 | 17.18 | 25.93 |
| Cash & equivalents | 0.20 | 0.25 | 0.07 | 0.57 | 0.13 | 0.80 | 0.12 | 0.86 | 0.10 | 4.50 | 33.20 | 6.57 |
| Total Assets | 14.01 | 10.00 | 10.01 | 13.01 | 22.02 | 25.00 | 34.02 | 52.08 | 51.08 | 74.11 | 146 | 204 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 3.01 | 3.01 | 2.01 | −1.01 | 2.01 | 3.01 | −3.01 | 1.01 | 5.01 | 10.02 | 6.01 | 16.01 |
| Cash from investing activity | −0.99 | −0.99 | −0.99 | −0.99 | −6.99 | −4.99 | −2.99 | −2.99 | −2.99 | −14.95 | −37.89 | −74.84 |
| Cash from financing activity | −2.01 | −2.01 | −2.01 | 2.01 | 4.01 | 2.01 | 5.01 | 2.01 | −2.01 | 9.03 | 61.18 | 32.08 |
| Net cash flow | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.99 | −1.01 | 1.01 | −0.99 | 4.01 | 29.02 | −27.01 |
| Capex | 0.99 | 0.99 | 0.99 | 0.99 | 6.98 | 4.99 | 2.99 | 2.99 | 3.98 | 14.95 | 37.87 | 76.79 |
| Free cash flow | 1.99 | 1.99 | 1.99 | −1.99 | −4.99 | −0.99 | −5.99 | −1.99 | 0.99 | −3.99 | −32.97 | −59.93 |
| CFO / OP % | 100.0% | 172.9% | 127.9% | −18.1% | 49.0% | 177.0% | −110.0% | 23.0% | 58.0% | 97.0% | 56.9% | 112.0% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor days | 37 | 25 | 44 | 49 | 45 | 36 | 52 | 66 | 64 | 53 | 55 | 58 |
| Inventory days | 69 | 81 | 105 | 124 | 71 | 135 | 230 | 148 | 144 | 163 | 160 | 104 |
| Days payable | 93 | 45 | 108 | 33 | 24 | 57 | 93 | 100 | 31 | 61 | 69 | 83 |
| Cash conversion cycle | 12 | 62 | 41 | 140 | 93 | 115 | 189 | 114 | 178 | 155 | 145 | 80 |
| Working capital days | 34 | 6 | 8 | 97 | 61 | 73 | 95 | 56 | 86 | 69 | 106 | 60 |
| ROCE % | 21.0% | 12.0% | 16.0% | 27.0% | 41.0% | 4.0% | 4.0% | 28.0% | 32.0% | 18.0% | 12.0% | 8.0% |
For the Mar 2026 quarter, Tirupati Forge reported sales of ₹41.94 Cr, up 52.3% year on year and net profit of ₹1.53 Cr, up 16.8% year on year. The operating margin was 9.2%.
Tirupati Forge's sales for the year to Mar 2026 were ₹162 Cr; over the last twelve months they were ₹163 Cr.
Net profit for the year to Mar 2026 was ₹6.01 Cr, and ₹6.33 Cr over the last twelve months. Earnings per share over the same trailing period were ₹0.55.
Tirupati Forge reported borrowings of ₹42.10 Cr at Mar 2026, against cash and equivalents of ₹6.57 Cr.
Cash from operations was ₹16.01 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹59.93 Cr.