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Tega Industries

TEGA NSE
₹1,814.70 +115.10 (+6.77%)
P/E
2835.47
View as Markdown
MCP
Close 4 Nov 2026 ₹1,814.70 −95.10 −4.98% 1Y
Start ₹1,909.80

Key Fundamentals

MicrocapIndustrial ManufacturingCapital Goods

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
8.14%
Debt to Equity
0.12
EPS (TTM)
₹0.64
Book Value
₹463.27
Market Cap
—
P/E (TTM)
2835.47
P/B
3.92
ROE
5.94%
Dividend Yield
0.12%
EBITDA
₹313 Cr
52W High
₹2,198.00
52W Low
₹1,473.00
Day Range
₹1,705.00 – ₹1,830.00
Volume
3,60,093

Peer Comparison

Industrials › Capital Goods › Industrial Products

Tega Industries peer comparison
Indo-MIM
₹1,240.10106.91₹59,516 Cr18.470.55%23.40%25.00%₹3,482 Cr₹562 Cr
Aditya Infotech
₹3,999.8098.59₹46,234 Cr14.530.04%25.40%28.60%₹4,883 Cr₹477 Cr
Syrma SGS
₹1,512.6079.19₹28,543 Cr9.590.10%14.00%16.80%₹5,464 Cr₹401 Cr
Honeywell Automation
₹29,810.0047.82₹25,976 Cr5.650.38%12.60%17.00%₹4,703 Cr₹552 Cr
Jyoti CNC Automation
₹1,034.9573.19₹22,990 Cr11.010.00%18.20%21.30%₹2,191 Cr₹323 Cr
Kaynes Technology India
₹3,330.0064.57₹21,957 Cr4.710.00%8.69%12.70%₹3,899 Cr₹345 Cr
LMW
₹17,358.00106.09₹18,108 Cr6.100.21%4.05%5.58%₹3,374 Cr₹176 Cr
Tega Industries (this company)
₹1,814.702,835.47₹12,975 Cr3.920.12%5.94%8.14%₹3,059 Cr₹0 Cr
Median 8 companies₹2,572.3588.89₹24,483 Cr7.850.11%13.30%16.90%₹3,690 Cr₹373 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

48 Average

Data confidence 98/100

Category scores

Quality
55
Good
Returns, margins, earnings quality 22% weight
Valuation
34
Poor
Cheap vs sector & own history 24% weight
Growth
99
Strong
Sales & profit trajectory 9% weight
Financial Health
52
Average
Solvency, leverage, coverage 9% weight
Momentum
45
Weak
Trend strength, vol-adjusted 12% weight
Ownership
34
Poor
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company is expected to give good quarter

Weaknesses

5
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 11.1% over last 3 years.
  • Earnings include an other income of Rs.89.1 Cr.
  • Dividend payout has been low at 8.02% of profits over last 3 years
  • Promoter holding has decreased over last 3 years: -7.37%

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBullish568
OscillatorsBearish360
Moving AveragesStrong Bullish208

Key readings

RSI (14)
49.54
Neutral
MACD (12,26,9)
−46.80
Bearish
SMA (50)
1,825.80
Bearish
SMA (200)
1,727.58
Bullish

As of

Analyst Rating

Based on 4 analysts
BUY50%

2 of 4 analysts rate Buy, 1 Hold, 1 Sell.

As of

BUY
2
50%
HOLD
1
25%
SELL
1
25%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+12.22%
5Y+15.99%
3Y+11.70%
1Y+3.23%
TTM+84.95%

Net profit

Net profit growth by window
10YTurned to profit
5Y+1.01%
3Y−8.06%
1Y−28.50%
TTM−100.00%

Operating cash flow

Operating cash flow growth by window
10Y—
5Y+15.54%
3Y+25.05%
1Y+79.49%
TTM—

10Y: The statements do not go back far enough for this window.

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+3.84 pp
5Y−10.18 pp
3Y−8.55 pp
1Y−7.04 pp
TTM−12.46 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹497 Cr
Mar 2018₹549 Cr
Mar 2019₹634 Cr
Mar 2020₹685 Cr
Mar 2021₹806 Cr
Mar 2022₹952 Cr
Mar 2023₹1,214 Cr
Mar 2024₹1,493 Cr
Mar 2025₹1,639 Cr
Mar 2026₹1,692 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017−₹2.00 Cr
Mar 2018₹28.00 Cr
Mar 2019₹33.00 Cr
Mar 2020₹66.00 Cr
Mar 2021₹136 Cr
Mar 2022₹117 Cr
Mar 2023₹184 Cr
Mar 2024₹194 Cr
Mar 2025₹200 Cr
Mar 2026₹143 Cr

Analyst Forecasts

Forecast For
Sep 26 consensus · EBITDA
₹624 Cr +745.0% vs Jun 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 23 Oct 2026
AI opinion · based on fundamentals
Risk high

Tega Industries Ltd trades at ₹1,723.5 as of 2026-10-23 with a market cap of ₹12,948 Cr. The stock carries an extremely elevated trailing P/E of 2,693x on an EPS of just ₹0.64, reflecting a sharp near-term earnings collapse (TTM profit growth of -100%), even as TTM sales growth surged 85%. The company maintains a conservative balance sheet with a debt-to-equity ratio of 0.12.

Bull Case 7
  • TTM revenue growth of 85% signals a strong top-line acceleration, well above the 5-year compounded sales CAGR of 16%
  • Very low debt-to-equity ratio of 0.12 as of 2026-10-23 indicates a conservatively financed balance sheet with limited solvency risk
  • Long-term compounded profit CAGR of 37% over 10 years demonstrates historically strong earnings power over a full cycle
  • 3-year stock price CAGR of 26% reflects meaningful long-term wealth creation for shareholders despite recent weakness
  • 5-year compounded sales CAGR of 16% and 10-year CAGR of 12% point to a consistent structural growth trajectory in revenues
  • Price-to-book ratio of 3.72x is not extreme for a capital goods company with historically double-digit ROE (5-year average ROE of 13%)
  • Company is expected to deliver a good upcoming quarter, which could mark a recovery inflection in near-term earnings
Bear Case 8
  • TTM compounded profit growth of -100% signals a near-total wipeout in trailing earnings, compressing EPS to just ₹0.64
  • Trailing P/E of 2,693x as of 2026-10-23 is extraordinarily stretched, implying the stock is priced for a massive earnings recovery that is not yet visible in reported numbers
  • Last-year ROE has collapsed to 6% (and ROCE to 6.23%) from a 5-year average of 13%, indicating a severe deterioration in capital efficiency
  • Promoter holding has decreased by 7.37% over the last three years, which may signal weakening promoter confidence or dilution
  • Earnings quality is questionable as other income of ₹89.1 Cr forms a material component of reported profits
  • Low interest coverage ratio raises concerns about the company's ability to service debt comfortably despite the low debt-to-equity
  • Dividend payout has averaged just 8.02% of profits over the last 3 years, offering minimal cash return to shareholders with a current yield of only 0.11%
  • Stock is down approximately 22% from its 52-week high of ₹2,198, and the 1-year stock CAGR of -3% shows negative recent momentum

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

7d ago

TL;DR: Tega Industries is in a strong momentum phase, with a ~30% monthly rally backed by a meaningful ₹126 crore contract win and a favourable court ruling removing ₹13.79 crore in tax demand risk. The company has laid out a clear debt reduction plan targeting 3x EBITDA over 4-5 years. No material headwinds are visible in recent news flow. The trend is firmly improving, though sustaining this pace will depend on continued order inflow and execution on the deleveraging roadmap.

Positives 5
  • ₹126 Cr contract win Sep 30

    Tega McNally Minerals secured a ₹126 crore contract with Kalpataru Projects International for design, engineering, manufacturing and commissioning, to be executed over 14 months.

  • Strong multi-timeframe rally Sep 30

    Shares gained 29.94% in one month and 30.08% over six months, with a breakout above a downward-sloping trendline on healthy volumes. Stock hit 52-week high of ₹2,135 on Sep 21.

  • Tax demand risk removed Oct 16

    Calcutta High Court set aside IT reassessment for Tega McNally Minerals for AY 2017-18, eliminating a ₹13.79 crore demand risk.

Neutral 1
  • Promoter trust restructuring Oct 13

    Mehul Mohanka Benefit Trust acquired 99.96% of promoter entity NFSPL via gift, resulting in indirect acquisition of Tega Industries shares with no change in control.

Quarterly Results

₹ Cr
TEGA quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
268
377
340
507
340
353
409
536
356
405
404
527
1,723
Expenses
229
296
284
368
276
319
318
386
300
336
358
467
1,668
Operating Profit
39
82
56
139
64
34
91
150
56
69
46
60
56
OPM %
15%
22%
16%
27%
19%
10%
22%
28%
16%
17%
11%
11%
3.2%
Other Income
8.13
3.35
7
4.19
13
13.49
11.35
7
17
18
15
37
17.41
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
PBT
25.76
62.3
42
113
48
14.42
70.49
123
43
59
32
67
−116
Tax %
20%
25%
15%
22%
23%
54%
24%
18%
18%
24%
38%
37%
−7%
Net Profit
21
47
36
89
37
7
54
102
35
45
20
43
−108
EPS (₹)
3.22
7.13
5.36
13.45
5.52
1.09
8.15
15.32
5.31
6.75
2.62
5.68
−14.41

Profit & Loss

₹ Cr
TEGA profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
622
534
497
549
634
685
806
952
1,214
1,493
1,639
1,692
3,059
Expenses
547
481
467
475
534
576
613
768
942
1,176
1,298
1,459
2,828
Operating Profit
75
53
31
74
100
109
193
184
271
317
341
233
231
OPM %
12%
10%
6%
13%
16%
16%
24%
19%
22%
21%
21%
14%
8%
Other Income
5
6
24
22
9
12
50
27
25
27
48
88
89
Interest
36
23
20
22
25
23
19
17
19
33
28
24
133
Depreciation
26
30
35
33
38
38
40
39
41
64
101
95
146
PBT
18
5
0
40
46
59
184
155
236
247
259
201
41
Tax %
183%
292%
2400%
30%
30%
−11%
26%
25%
22%
22%
23%
29%
—
Net Profit
−15
−10
−2
28
33
66
136
117
184
194
200
143
−1
EPS (₹)
−2.48
−1.74
−0.41
4.88
5.66
11.37
23.68
17.63
27.73
29.14
30.08
18.99
0.64
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
7%
7%
7%
11%
—

Balance Sheet

₹ Cr
TEGA balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
58
58
58
58
58
58
58
66
66
67
67
75
Reserves
381
360
282
311
335
396
547
670
983
1,125
1,330
3,332
Borrowings
356
320
238
249
252
287
228
245
361
308
330
398
Other Liabilities
94
106
171
150
141
140
176
189
219
385
363
504
Total Liabilities
889
843
749
767
785
881
1,010
1,170
1,629
1,885
2,089
4,310
Fixed Assets
231
234
296
287
284
266
296
298
548
600
623
661
CWIP
17
8
8
5
4
9
7
10
12
11
48
111
Investments
83
71
73
60
77
158
201
199
217
279
262
227
Other Assets
558
530
373
415
420
448
505
663
852
995
1,157
3,311
Total Assets
889
843
749
767
785
881
1,010
1,170
1,629
1,885
2,089
4,310

Cash Flow

₹ Cr
TEGA cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
—
—
60
44
69
128
170
14
179
252
195
350
Investing
—
—
−14
8
−14
−102
−80
−25
−235
−96
−129
−991
Financing
—
—
−44
−22
−93
−9
−79
3
63
−115
−38
1,690
Net Cash Flow
—
—
2
30
−38
18
11
−8
6
41
28
1,050
Free Cash Flow
—
—
60
44
43
102
122
−27
179
252
195
350
CFO/EBITDA
—
—
212
71
83
136
104
31
83
93
75
195

Ratios

TEGA financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
107
127
118
113
116
97
100
106
121
109
112
97
Inventory Days
175
194
240
190
172
177
179
229
200
209
217
233
Days Payable
104
109
169
122
114
87
111
88
77
104
116
178
Cash Conversion Cycle
178
213
188
181
173
187
168
247
244
215
212
153
Working Capital Days
149
156
0
23
48
43
64
92
109
86
100
77
ROCE %
—
6%
3%
10%
12%
12%
26%
19%
21%
19%
18%
8%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Tega Industries insights

63 extracted metrics across FY15–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 67.08%
  • DIIs 16.87%
  • Public 13.37%
  • FIIs 2.68%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Tega Industries

What does Tega Industries Ltd do?
Established in 1976, Tega Industries is a leading manufacturer and distributor of specialized, critical, and recurring consumable products for the global mineral beneficiation, mining, and bulk solids handling industry.
Where is Tega Industries Ltd (TEGA) listed?
Tega Industries Ltd trades as TEGA on the NSE and under code 543413 on the BSE.
Which sector does Tega Industries Ltd belong to?
Tega Industries Ltd is classified under the Capital Goods sector, in the Industrial Products industry.
What is the PE ratio of Tega Industries Ltd?
Tega Industries Ltd trades at a PE ratio of 2835.47 as of 4 Nov 2026, on earnings per share of ₹0.64, against a book value of ₹463.27 per share.
What is the 52-week high and low of Tega Industries Ltd?
Over the last 52 weeks Tega Industries Ltd has traded between ₹1,473 and ₹2,198 as of 4 Nov 2026.
Does Tega Industries Ltd pay dividends?
Tega Industries Ltd has a dividend yield of 0.12%.
What is the Return on Equity (ROE) of Tega Industries Ltd?
Tega Industries Ltd reported a return on equity of 5.94%. Its debt-to-equity ratio is 0.12.

Company Information

Established in 1976, Tega Industries is a leading manufacturer and distributor of specialized, critical, and recurring consumable products for the global mineral beneficiation, mining, and bulk solids handling industry. Globally, Tega industries are the second largest producers of polymer-based mill liners, based on revenues for the year 2020.

Website tegaindustries.com
Listed 13 Dec 2021
Face Value ₹10

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