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Tirupati Forge Ltd.
(TIRUPATIFL)
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Rating:60Neutral
Price Target:
₹73.00
▲(132.93% Upside)
Action:Reiterated
Date:07/22/26
The score is mainly held back by financial quality concerns—especially persistently negative and worsening free cash flow, alongside softer profitability and higher debt in 2026. Strong technical momentum (price above major moving averages with positive MACD) supports the score, but valuation is a meaningful headwind due to the very high P/E and lack of dividend yield data.
Positive Factors
Accelerating Revenue Growth
Accelerating revenue growth indicates stronger demand and expanding business activity for Tirupati Forge’s forged components. If sustained, this scale can improve customer reach, support operating leverage, and provide a broader base for future earnings despite current profitability pressure.
Negative Factors
Persistent Negative Free Cash Flow
Persistent and worsening negative free cash flow limits the cash available to fund expansion, reduce debt, or withstand weaker demand. Although reinvestment or working-capital needs may explain some outflows, the pattern increases reliance on external funding and reduces financial flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Accelerating Revenue Growth
Accelerating revenue growth indicates stronger demand and expanding business activity for Tirupati Forge’s forged components. If sustained, this scale can improve customer reach, support operating leverage, and provide a broader base for future earnings despite current profitability pressure.
Read all positive factors
Tirupati Forge Ltd. (TIRUPATIFL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹9.21B
Dividend Yield0.11%
Average Volume (3M)251.99K
Price to Earnings (P/E)143.3
Beta (1Y)0.49
Revenue Growth42.34%
EPS Growth-20.35%
CountryIN
Employees92
SectorGeneral
Sector StrengthN/A
IndustryManufacturing - Metal Fabrication
Share Statistics
EPS (TTM)0.48
Shares Outstanding130,040,000
10 Day Avg. Volume349,364
30 Day Avg. Volume251,993
Financial Highlights & Ratios
PEG Ratio-2.29
Price to Book (P/B)3.75
Price to Sales (P/S)3.08
P/FCF Ratio-7.97
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
Tirupati Forge Ltd. Business Overview & Revenue Model
Company Description
Established in 2012 and headquartered in Rajkot, India, Tirupati Forge Limited manufactures and distributes carbon steel forged flanges, along with various forged and other automotive components, primarily within the Indian market. The company pro...
How the Company Makes Money
Tirupati Forge Ltd. primarily makes money by manufacturing and selling forged metal components to business customers (B2B). Revenue is generated when customers place orders for specified forged parts, the company produces these components using fo...
Tirupati Forge Ltd. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
67
Positive
Cash Flow
41
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.68B | 1.62B | 1.15B | 1.09B | 910.80M | 789.92M |
| Gross Profit | 707.16M | 630.13M | 380.53M | 145.79M | 181.07M | 203.12M |
| EBITDA | 187.34M | 193.24M | 165.33M | 133.89M | 161.20M | 113.87M |
| Net Income | 61.04M | 62.95M | 78.55M | 66.42M | 94.29M | 62.23M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 2.04B | 1.46B | 743.01M | 512.85M | 524.61M |
| Cash, Cash Equivalents and Short-Term Investments | 65.55M | 65.55M | 332.01M | 44.90M | 927.00K | 8.63M |
| Total Debt | 0.00 | 415.44M | 261.95M | 131.37M | 101.05M | 110.47M |
| Total Liabilities | -1.33B | 703.91M | 388.68M | 243.85M | 150.46M | 256.51M |
| Stockholders Equity | 1.33B | 1.33B | 1.07B | 499.16M | 362.38M | 268.10M |
Cash Flow | ||||||
| Free Cash Flow | -222.92M | -626.74M | -326.31M | -48.99M | -3.58M | -28.08M |
| Operating Cash Flow | -28.63M | 141.51M | 58.55M | 103.06M | 35.23M | 3.81M |
| Investing Cash Flow | -185.09M | -761.14M | -379.99M | -147.02M | -33.42M | -28.95M |
| Financing Cash Flow | 82.20M | 353.89M | 607.82M | 87.93M | -9.42M | 24.17M |
Tirupati Forge Ltd. Technical Analysis
Neutral
31.34
Price Trends
70.35
Negative
63.11
Positive
51.07
Positive
Market Momentum
0.85
Positive
44.24
Neutral
0.14
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TIRUPATIFL, the sentiment is Neutral. The current price of 31.34 is below the 20-day moving average (MA) of 72.37, below the 50-day MA of 70.35, and below the 200-day MA of 51.07, indicating a neutral trend. The MACD of 0.85 indicates Positive momentum. The RSI at 44.24 is Neutral, neither overbought nor oversold. The STOCH value of 0.14 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:TIRUPATIFL.
Tirupati Forge Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹59.72B | 20.16 | ― | 0.03% | 30.79% | 22.38% | |
65 Neutral | ₹183.04B | 55.90 | ― | 0.21% | 15.53% | 21.46% | |
60 Neutral | ₹9.21B | 143.28 | ― | 0.11% | 42.34% | -20.35% | |
57 Neutral | ₹27.47B | 23.64 | ― | 0.89% | 9.58% | 2.00% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹856.40M | 9.43 | ― | 1.70% | 76.93% | -22.99% | |
43 Neutral | ₹532.47M | -8.18 | ― | ― | -17.43% | -2365.00% |
* General Sector Average
IN:TIRUPATIFL
Tirupati Forge Ltd.
69.39
26.12
60.37%
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555.55
248.28
80.80%
Tirupati Forge Ltd. Corporate Events
Tirupati Forge Board Clears FY26 Report, Reappoints Managing Director and Sets Up E-Voting
Aug 24, 2026
Tirupati Forge Ltd.’s board met on August 24, 2026, approving the Board’s Report for the financial year ended March 31, 2026, and endorsing the retirement by rotation and re-appointment of Managing Director Hiteshkumar Gordhanbhai Thum...
Tirupati Forge Board Clears MD Re-Appointment and AGM E-Voting Measures
Aug 24, 2026
Tirupati Forge Ltd., a listed Indian manufacturer of forged components for industrial and infrastructure use, is gearing up for its 14th Annual General Meeting as part of its ongoing governance and regulatory responsibilities.At a board meeting on...
Tirupati Forge Signs Brazilian Defence Collaboration to Develop Artillery Shells
Jul 31, 2026
Tirupati Forge Ltd. has entered into a technical collaboration agreement with a defence technology professional from Brazil to develop and manufacture 155 mm M107 empty shell bodies, 155 mm ERFB BB/BT empty shell bodies, and other large bomb and a...
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.