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Thejo Engineering Ltd.
(THEJO)
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Rating:68Neutral
Price Target:
₹2,301.00
▲(20.98% Upside)
Action:Reiterated
Date:08/01/26
The score is primarily supported by solid underlying financial quality (notably a conservatively financed balance sheet) and strong trend positioning above major moving averages. This is offset by weak 2026 cash-flow consistency and a rich valuation (high P/E with a low dividend yield), which increases downside risk if growth or margins disappoint.
Positive Factors
Conservative Balance Sheet
Low leverage and a growing equity base provide durable financial flexibility for an industrial-engineering business. This reduces refinancing and solvency risk across cycles, supports bidding on large projects, and allows the company to fund capex or absorb downturns without aggressive external financing.
Negative Factors
Weaker Cash Conversion
A sharp drop and volatility in operating and free cash flow reduces the firm's ability to fund capex, working capital and returns from internal sources. Over months this forces greater reliance on external financing, raises execution risk on projects, and constrains strategic flexibility if cash trends persist.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Low leverage and a growing equity base provide durable financial flexibility for an industrial-engineering business. This reduces refinancing and solvency risk across cycles, supports bidding on large projects, and allows the company to fund capex or absorb downturns without aggressive external financing.
Read all positive factors
Thejo Engineering Ltd. (THEJO) vs. iShares MSCI India ETF (INDA)
Market Cap
₹23.06B
Dividend Yield0.24%
Average Volume (3M)11.26K
Price to Earnings (P/E)40.9
Beta (1Y)1.17
Revenue Growth20.87%
EPS Growth12.63%
CountryIN
Employees1,761
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)51.62
Shares Outstanding10,848,074
10 Day Avg. Volume6,702
30 Day Avg. Volume11,256
Financial Highlights & Ratios
PEG Ratio-23.83
Price to Book (P/B)4.46
Price to Sales (P/S)2.50
P/FCF Ratio263.46
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)N/A
Revenue Forecast (FY)N/A
Thejo Engineering Ltd. Business Overview & Revenue Model
Company Description
Established in Chennai, India, in 1974, Thejo Engineering Limited develops, manufactures, markets, and provides services for industrial products primarily based on rubber and polyurethane. These specialized engineering solutions are vital for bulk...
How the Company Makes Money
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Thejo Engineering Ltd. Financial Statement Overview
Summary
Income Statement
76
Positive
Balance Sheet
84
Very Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.74B | 6.32B | 5.53B | 5.59B | 4.74B | 4.24B |
| Gross Profit | 3.70B | 2.87B | 2.44B | 3.15B | 3.67B | 2.51B |
| EBITDA | 935.53M | 869.49M | 927.58M | 1.02B | 625.73M | 699.59M |
| Net Income | 560.02M | 492.60M | 498.94M | 556.39M | 324.18M | 376.30M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 5.49B | 4.46B | 4.14B | 3.64B | 3.03B |
| Cash, Cash Equivalents and Short-Term Investments | 614.68M | 665.17M | 779.53M | 654.11M | 608.15M | 459.07M |
| Total Debt | 0.00 | 408.37M | 299.80M | 425.12M | 453.08M | 381.24M |
| Total Liabilities | -3.79B | 1.70B | 1.26B | 1.41B | 1.45B | 1.17B |
| Stockholders Equity | 3.79B | 3.54B | 2.98B | 2.50B | 1.96B | 1.65B |
Cash Flow | ||||||
| Free Cash Flow | 159.35M | 60.01M | 288.45M | 292.72M | 91.60M | 126.03M |
| Operating Cash Flow | 282.12M | 405.09M | 697.34M | 518.07M | 586.07M | 273.02M |
| Investing Cash Flow | -376.30M | -627.82M | -451.04M | -190.89M | -504.55M | -146.56M |
| Financing Cash Flow | -96.22M | -85.26M | -188.64M | -151.46M | -80.72M | -443.00K |
Thejo Engineering Ltd. Technical Analysis
Positive
1901.90
Price Trends
1999.41
Positive
1852.12
Positive
1762.92
Positive
Market Momentum
25.72
Positive
58.30
Neutral
84.32
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:THEJO, the sentiment is Positive. The current price of 1901.9 is below the 20-day moving average (MA) of 2092.24, below the 50-day MA of 1999.41, and above the 200-day MA of 1762.92, indicating a bullish trend. The MACD of 25.72 indicates Positive momentum. The RSI at 58.30 is Neutral, neither overbought nor oversold. The STOCH value of 84.32 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:THEJO.
Thejo Engineering Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹24.43B | 18.61 | ― | 0.50% | 4.81% | 16.32% | |
68 Neutral | ₹23.06B | 40.92 | ― | 0.24% | 20.87% | 12.63% | |
59 Neutral | ₹97.23B | 41.12 | ― | 0.46% | 3.08% | -54.36% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹22.89B | 16.02 | ― | 4.02% | 9.17% | 14.00% | |
47 Neutral | ₹11.96B | 18.98 | ― | 4.66% | 49.44% | 41.82% | |
44 Neutral | ₹2.54B | -41.81 | ― | 1.26% | -17.81% | -125.09% |
* General Sector Average
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Thejo Engineering Ltd. Corporate Events
Thejo Engineering Wins Initial Vale Orders Under Three-Year Mill Liner Contract
Jul 3, 2026
Thejo Engineering Ltd. has secured the first tranche of purchase orders under a three-year supply contract with Brazilian mining major Vale for its THOR-R and THOR-M mill liners, following strong performance in plant trials. The initial orders cov...
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.