Technocraft Industries
Technocraft Industries
IndustrialsKey Fundamentals
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Key Insights
Weaknesses
1- Dividend payout has been low at 11.2% of profits over last 3 years
Growth Rate
AI Analysis — Bull vs Bear
Technocraft Industries (India) Ltd is a diversified industrial company operating across drum closures, scaffolding, yarn/fabric, and engineering services segments with a market cap of ₹5,725 Cr, trading at a PE of 19.4x. The company has delivered a 5-year sales CAGR of 16% and profit CAGR of 19%, though recent TTM sales growth has moderated to 6% and the stock has declined 23% over the past year.
- Strong long-term wealth creation with stock CAGR of 26% over 10 years and 35% over 5 years, indicating sustained business compounding
- Robust 5-year compounded profit growth of 19%, outpacing sales growth of 16%, suggesting operating leverage and margin expansion
- Consistent ROE track record averaging 16% over 10 years and 17% over 5 years, demonstrating efficient capital allocation
- Diversified business model across drum closures (global leader), scaffolding, engineering services, and textiles reduces single-segment dependency
- PE of 19.4x is below the industry PE of ~25x for the industrials sector, offering relative valuation comfort
- Revenue scaled from approximately ₹1,352 Cr in FY21 to ₹2,696 Cr in FY25, nearly doubling in four years
- Moderate debt-to-equity ratio of 0.41x indicates manageable leverage for a capital-intensive industrial business
- Strong export orientation across drum closures and scaffolding segments provides geographic diversification and forex earnings
- TTM sales growth has decelerated sharply to just 6% compared to 3-year CAGR of 12% and 5-year CAGR of 16%, signalling a potential slowdown
- Stock has declined 23% over the past 1 year, reflecting market concerns about near-term growth trajectory
- Dividend payout is low at only 11.2% of profits over the last 3 years with a yield of just 0.8%, limiting income returns for shareholders
- 3-year compounded profit CAGR of only 2% indicates recent earnings stagnation despite longer-term growth record
- ROE has dipped to 15% in the last year from 17% five-year average, suggesting declining return efficiency
- Price-to-book ratio of 2.81x is not cheap for an industrial conglomerate with textile exposure that typically commands lower multiples
- Textile segments (yarn and fabric) face structural headwinds from global demand volatility and intense domestic competition
- EBITDA grew only from ₹454 Cr in FY23 to ₹516 Cr in FY25, a modest 7% CAGR over two years versus 16% revenue growth in the same period
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Promoters confirm no share encumbrance Jun 15
Promoters Sudarshankumar and Sharadkumar Saraf declared zero share encumbrance for FY26 under SEBI regulations, signaling no pledging of holdings.
- Investor meet scheduled June 16 Jun 10
Technocraft Industries will hold investor and analyst meetings on June 16, 2026 in Mumbai as part of the Systematix Promoters and Founders Forum 2026.
TL;DR: Limited news flow for Technocraft Industries with no material headwinds or catalysts in the recent cycle. Promoter holdings remain unencumbered, which is a routine but reassuring governance signal. The upcoming investor meet on June 16 could provide forward guidance. Overall, the narrative is quiet with no directional triggers evident from recent developments.
Quarterly Results
| Particulars | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 557 | 520 | 513 | 593 | 620 | 629 | 644 | 702 | 633 | 752 | 662 | 712 | 805 |
| Expenses | 426 | 418 | 431 | 508 | 504 | 532 | 552 | 592 | 521 | 628 | 570 | 572 | 627 |
| Operating Profit | 130 | 102 | 82 | 84 | 116 | 97 | 92 | 110 | 112 | 124 | 93 | 139 | 178 |
| OPM % | 23% | 20% | 16% | 14% | 19% | 15% | 14% | 16% | 18% | 16% | 14% | 20% | 22% |
| Other Income | 14 | 17 | 25 | 24 | 30 | 35 | 6 | 29 | 39 | 21 | 28 | 14 | 40 |
| Interest | 11 | 10 | 9 | 9 | 11 | 14 | 12 | 18 | 14 | 14 | 15 | 15 | 14 |
| Depreciation | 16 | 17 | 17 | 18 | 24 | 25 | 29 | 30 | 29 | 30 | 32 | 33 | 29 |
| PBT | 118 | 92 | 81 | 81 | 111 | 93 | 58 | 92 | 108 | 101 | 74 | 105 | 175 |
| Tax % | 23% | 24% | 24% | 29% | 24% | 23% | 28% | 27% | 23% | 22% | 27% | 26% | 21% |
| Net Profit | 91 | 70 | 61 | 57 | 84 | 71 | 41 | 66 | 82 | 79 | 54 | 78 | 138 |
| EPS in Rs | 37.05 | 28.73 | 25.39 | 23.9 | 35.04 | 30.5 | 17.91 | 29.1 | 35.02 | 33.8 | 23.46 | 33.56 | 58.96 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,029 | 921 | 936 | 1,184 | 1,313 | 1,352 | 1,295 | 1,911 | 1,985 | 2,182 | 2,596 | 2,759 | 2,931 |
| Expenses | 894 | 770 | 790 | 1,010 | 1,116 | 1,148 | 1,092 | 1,519 | 1,581 | 1,783 | 2,180 | 2,283 | 2,397 |
| Operating Profit | 135 | 151 | 146 | 175 | 198 | 204 | 203 | 392 | 403 | 399 | 416 | 476 | 534 |
| OPM % | 13% | 16% | 16% | 15% | 15% | 15% | 16% | 21% | 20% | 18% | 16% | 17% | 18% |
| Other Income | 15 | 32 | 41 | 47 | 37 | 45 | 68 | 52 | 54 | 80 | 100 | 94 | 103 |
| Interest | 9 | 10 | 19 | 23 | 32 | 37 | 29 | 21 | 28 | 40 | 55 | 58 | 58 |
| Depreciation | 32 | 26 | 24 | 29 | 38 | 52 | 68 | 63 | 64 | 68 | 108 | 123 | 124 |
| PBT | 109 | 147 | 144 | 170 | 164 | 159 | 175 | 360 | 366 | 372 | 353 | 388 | 455 |
| Tax % | 31% | 32% | 30% | 29% | 27% | 21% | 23% | 24% | 24% | 25% | 26% | 24% | — |
| Net Profit | 75 | 100 | 101 | 120 | 119 | 126 | 134 | 274 | 278 | 279 | 263 | 293 | 348 |
| EPS in Rs | 23.85 | 38.17 | 39.14 | 48.84 | 47.73 | 50.18 | 53.19 | 109 | 116 | 115 | 113 | 126 | 150 |
| Div. Payout % | 21% | 8% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 18% | 16% | — |
Balance Sheet
| Particulars | 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 | 32 | 26 | 26 | 24 | 24 | 24 | 24 | 24 | 23 | 23 | 23 | 23 |
| Reserves | 589 | 555 | 663 | 684 | 803 | 920 | 1,048 | 1,312 | 1,393 | 1,652 | 1,750 | 2,000 |
| Borrowings | 222 | 334 | 345 | 514 | 642 | 658 | 467 | 506 | 656 | 675 | 846 | 819 |
| Other Liabilities | 147 | 91 | 120 | 164 | 157 | 214 | 237 | 268 | 292 | 342 | 378 | 408 |
| Total Liabilities | 991 | 1,006 | 1,154 | 1,387 | 1,626 | 1,816 | 1,776 | 2,111 | 2,364 | 2,692 | 2,996 | 3,249 |
| Fixed Assets | 158 | 163 | 203 | 245 | 319 | 480 | 424 | 420 | 438 | 738 | 855 | 858 |
| CWIP | 4 | 12 | 17 | 53 | 54 | 20 | 12 | 17 | 40 | 14 | 33 | 14 |
| Investments | 196 | 268 | 279 | 237 | 263 | 271 | 334 | 420 | 331 | 410 | 435 | 468 |
| Other Assets | 633 | 563 | 655 | 851 | 989 | 1,044 | 1,005 | 1,253 | 1,555 | 1,531 | 1,673 | 1,909 |
| Total Assets | 991 | 1,006 | 1,154 | 1,387 | 1,626 | 1,816 | 1,776 | 2,111 | 2,364 | 2,692 | 2,996 | 3,249 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 64 | 145 | 54 | -27 | 26 | 201 | 258 | 108 | 136 | 308 | 276 | 243 |
| Investing | -91 | -42 | -49 | -41 | -117 | -165 | -30 | -132 | 22 | -338 | -185 | -116 |
| Financing | 39 | -67 | -7 | 53 | 98 | -25 | -215 | 20 | -61 | -21 | -45 | -131 |
| Net Cash Flow | 13 | 35 | -2 | -14 | 8 | 12 | 13 | -4 | 97 | -52 | 47 | -4 |
| Free Cash Flow | 18 | 100 | 3 | -133 | -81 | 29 | 245 | 56 | 43 | 6 | 75 | 140 |
| CFO/OP | 81 | 119 | 64 | 6 | 40 | 116 | 141 | 48 | 57 | 100 | 86 | 71 |
Ratios
| Particulars | 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 | 86 | 72 | 74 | 85 | 91 | 92 | 97 | 87 | 77 | 76 | 76 | 88 |
| Inventory Days | 148 | 187 | 298 | 259 | 291 | 357 | 316 | 249 | 371 | 271 | 228 | 251 |
| Days Payable | 45 | 14 | 39 | 36 | 27 | 45 | 77 | 64 | 68 | 35 | 35 | 33 |
| Cash Conversion Cycle | 190 | 244 | 334 | 308 | 354 | 404 | 337 | 272 | 380 | 312 | 269 | 306 |
| Working Capital Days | 70 | 37 | 60 | 54 | 55 | 70 | 98 | 88 | 84 | 93 | 75 | 98 |
| ROCE % | 15% | 18% | 17% | 17% | 15% | 13% | 12% | 22% | 20% | 19% | 16% | 16% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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43 extracted metrics + investor summaries across FY15–FY26.
Documents
Frequently Asked Questions about Technocraft Industries
What does Technocraft Industries (India) Ltd do?
Where is Technocraft Industries (India) Ltd (TIIL) listed?
Which sector does Technocraft Industries (India) Ltd belong to?
What is the market capitalisation of Technocraft Industries (India) Ltd?
What is the PE ratio of Technocraft Industries (India) Ltd?
What is the 52-week high and low of Technocraft Industries (India) Ltd?
Does Technocraft Industries (India) Ltd pay dividends?
What is the Return on Equity (ROE) of Technocraft Industries (India) Ltd?
Company Information
Technocraft Industries was incorporated in 1992. It has presence in five main business industries viz., Drum Closures, Scaffolding systems, Cotton Yarn, Fabric, Garments and Engineering Services. Company has manufacturing facilities in India and China.[1]
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