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Tega Industries Ltd.
(TEGA)
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Rating:64Neutral
Price Target:
₹2,280.00
▲(50.80% Upside)
Action:Reiterated
Date:09/22/26
The score is primarily supported by strong revenue momentum and a solid, low-leverage balance sheet, alongside bullish technical trend signals. Offsetting this, the valuation is a major headwind due to an extremely high P/E and minimal dividend yield, and financial quality concerns remain due to FY2026 margin/ROE deterioration and historically uneven free cash flow.
Positive Factors
Recurring consumable demand
Tega’s wear products are consumed and replaced in high-abrasion mining applications, linking demand to customer throughput and maintenance schedules. This recurring replacement model can support customer retention and revenue visibility beyond one-time equipment sales.
Negative Factors
Margin deterioration
Falling gross and net margins despite strong revenue growth indicate that incremental sales are currently producing weaker profitability. If cost pressure or unfavorable mix persists, earnings may not scale with revenue and internal funds available for reinvestment could remain constrained.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring consumable demand
Tega’s wear products are consumed and replaced in high-abrasion mining applications, linking demand to customer throughput and maintenance schedules. This recurring replacement model can support customer retention and revenue visibility beyond one-time equipment sales.
Read all positive factors
Tega Industries Ltd. (TEGA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹157.31B
Dividend Yield0.1%
Average Volume (3M)31.04K
Price to Earnings (P/E)553.3
Beta (1Y)0.29
Revenue Growth84.88%
EPS Growth-87.30%
CountryIN
Employees655
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)3.79
Shares Outstanding75,127,700
10 Day Avg. Volume48,957
30 Day Avg. Volume31,042
Financial Highlights & Ratios
PEG Ratio-2.60
Price to Book (P/B)3.45
Price to Sales (P/S)6.95
P/FCF Ratio54.84
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)35.84
Revenue Forecast (FY)₹19.64B
Tega Industries Ltd. Business Overview & Revenue Model
Company Description
Tega Industries Limited designs, manufactures, and installs process equipment and accessories for the mineral processing, mining, and material handling industries. It offers a range of grinding mill liners, such as DynaPrime, DynaSteel, DynaPulp, ...
How the Company Makes Money
Tega Industries makes money by selling engineered, consumable wear products and associated services to mining and mineral processing customers. Its core revenue model is B2B sales of products that are regularly replaced due to abrasion and impact ...
Tega Industries Ltd. Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
76
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 30.59B | 16.92B | 16.12B | 14.64B | 11.94B | 9.33B |
| Gross Profit | 12.78B | 6.32B | 9.13B | 8.18B | 6.67B | 5.30B |
| EBITDA | 4.93B | 3.19B | 3.85B | 3.40B | 2.94B | 2.04B |
| Net Income | 211.29M | 1.43B | 2.00B | 1.94B | 1.84B | 1.17B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 43.15B | 20.95B | 18.90B | 16.34B | 11.79B |
| Cash, Cash Equivalents and Short-Term Investments | 23.21B | 23.21B | 3.61B | 3.35B | 2.38B | 2.15B |
| Total Debt | 0.00 | 3.98B | 3.30B | 3.08B | 3.61B | 2.45B |
| Total Liabilities | -34.07B | 9.07B | 6.99B | 6.98B | 5.85B | 4.43B |
| Stockholders Equity | 34.07B | 34.07B | 13.97B | 11.92B | 10.49B | 7.36B |
Cash Flow | ||||||
| Free Cash Flow | 1.05B | 2.14B | 248.50M | 1.97B | 863.40M | -272.86M |
| Operating Cash Flow | 1.54B | 3.50B | 1.95B | 2.52B | 1.79B | 137.13M |
| Investing Cash Flow | -888.49M | -10.04B | -1.32B | -906.63M | -2.34B | -256.40M |
| Financing Cash Flow | -722.41M | 16.90B | -380.19M | -1.15B | 630.35M | 30.85M |
Tega Industries Ltd. Technical Analysis
Positive
1511.95
Price Trends
1718.32
Positive
1703.09
Positive
1734.45
Positive
Market Momentum
119.23
Negative
68.04
Neutral
69.44
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TEGA, the sentiment is Positive. The current price of 1511.95 is below the 20-day moving average (MA) of 1871.22, below the 50-day MA of 1718.32, and below the 200-day MA of 1734.45, indicating a bullish trend. The MACD of 119.23 indicates Negative momentum. The RSI at 68.04 is Neutral, neither overbought nor oversold. The STOCH value of 69.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:TEGA.
Tega Industries Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ₹140.30B | 37.79 | ― | 0.40% | 5.04% | -10.39% | |
65 Neutral | ₹356.90B | 28.11 | ― | 0.42% | 5.63% | 15.09% | |
64 Neutral | ₹157.31B | 553.30 | ― | 0.10% | 84.88% | -87.30% | |
63 Neutral | ₹82.18B | 32.14 | ― | 0.37% | 8.91% | 2.17% | |
60 Neutral | ₹326.20B | 59.89 | ― | 0.40% | 22.66% | 15.61% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹140.38B | 1.59 | ― | 0.54% | 4.63% | -4.40% |
* General Sector Average
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Tega Industries Ltd.
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Tega Industries Ltd. Corporate Events
Tega Industries Forms New Dubai Consultancy Subsidiary
Sep 8, 2026
Tega Industries Ltd. has announced that its subsidiary, Tega MC Global Holdings Pte. Ltd., has incorporated a new step-down subsidiary, Tega Molycop Management Consultancy L.L.C., in Dubai, with initial capital of AED 100,000 and an 84.2% stake he...
Tega Industries Announces 50th AGM to Be Held via Virtual Platform
Aug 31, 2026
Tega Industries Ltd. has notified the stock exchanges that it has published a public notice convening its 50th Annual General Meeting, which will be held via video conferencing or other audio-visual means. The notice appeared on 31 August 2026 in ...
Tega Industries Elevates Vinay Grover as Global Head of Sales to Drive International Growth
Aug 27, 2026
Tega Industries Ltd. has announced a key senior management change, appointing long-time executive Vinay Grover as Global Head of Sales effective 1 September 2026. Grover, currently President – Global Sales, brings over three decades of exper...
Tega Industries Publishes Postal Ballot and E-Voting Notice in Newspapers
Aug 23, 2026
Tega Industries Limited has notified the stock exchanges that it has published a newspaper advertisement regarding its Postal Ballot Notice and e-voting information, as part of its shareholder communication process. The notice appeared on August 2...
Tega Industries Seeks Shareholder Nod for Fundraising via Preferential Issue
Aug 22, 2026
Tega Industries Ltd. has initiated a postal ballot process to seek shareholder approval via special resolution for raising funds through a preferential issue on a private placement basis, with voting to be conducted exclusively through remote e-vo...
Tega Industries Announces SEBI-Compliant Trust Disclosures for FY 2025-26
Jul 21, 2026
Tega Industries Ltd., a BSE and NSE-listed player in wear-resistant engineered products for mining and mineral processing, serves global bulk material handling markets with customized solutions aimed at improving operational efficiency. The compan...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.