Technocraft Industries (India) Limited (TIIL)

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Technocraft Industries (India) Limited (TIIL) · mywealthgrid

About

Technocraft Industries manufactures iron and steel products serving India's industrials sector. With a market cap of ₹7,011 Cr and 74.75% promoter ownership, it operates as a mid-cap player in this capital-intensive, cyclical industry.

Face value: ₹10

Market cap

₹6,569 Cr

P/E

19.3×

P/B

3.2×

Dividend yield

1.4%

ROE

15%

ROCE

20.3%

Debt / equity

0.41

OPM

17%

EPS (TTM)

₹149.8

Book value

₹892.0

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

High PE of 24.57 against flat 1y return of 0.51% suggests valuation outpaced fundamentals; verify near-term earnings visibility
Operating margins swing between 13.09% and 20.65% across recent quarters, signaling cyclical or operational volatility; track input cost and demand trends
Very low FII participation (0.4%) combined with 74.75% promoter concentration limits liquidity and institutional confidence; verify what constrains participation
Steel product demand ties to construction and infrastructure cycles; verify order books and contract tenors beyond current quarter

Generated analysis · source review pending

Growth drivers

Operating margin at 20.65% in Mar-2026 exceeds recent quarterly average of ~15.7%; verify if cost advantage or input pricing proves sustainable
Quarterly EPS ranged ₹23.54–₹35.02 across eight recent quarters with no consistent trend; verify if growth narrative is supported or driven by margin swings
D/E of 0.41 leaves 60%+ of sector-typical leverage capacity unused; verify management's capex and expansion plans to deploy this headroom
Consistent quarterly dividend distributions (most recent Jun-2026) signal cash generation; verify if retained earnings fund organic growth or debt-funded expansion

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹2,893.8-1.1%1Y

Quick read

rule-based

Pros

+High return on capital employed of 21.7%
+Profit CAGR of 17% over the last 5 years
+Revenue CAGR of 16.3% over the last 5 years
+Dividend payout of 26.7% of profit
+High promoter holding of 74.8% with no pledge

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

61/100

Business quality: 52
Growth: 63
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Welspun Corp LimitedWELCORPWELCORP	₹68,741 Cr	₹70,904 Cr	₹17,300 Cr	₹2,403 Cr	13.3%	₹2,309 Cr	9.7%	19.2%	19.4%	85
Apl Apollo Tubes LimitedAPLAPOLLOAPLAPOLLO	₹58,753 Cr	₹59,205 Cr	₹22,897 Cr	₹1,841 Cr	7.8%	₹1,229 Cr	5.2%	30.8%	25.3%	-12
Shyam Metalics And Energy LimitedSHYAMMETLSHYAMMETL	₹29,244 Cr	₹30,225 Cr	₹19,574 Cr	₹2,519 Cr	12.6%	₹860 Cr	5.7%	13.5%	9.7%	8
Ratnamani Metals & Tubes LimitedRATNAMANIRATNAMANI	₹18,362 Cr	₹18,666 Cr	₹4,314 Cr	₹732 Cr	16.9%	₹433 Cr	11.9%	17.8%	12.5%	210
Jindal Saw LimitedJINDALSAWJINDALSAW	₹17,286 Cr	₹21,976 Cr	₹18,263 Cr	₹1,941 Cr	12.4%	₹653 Cr	5.2%	11.4%	8.1%	159
Usha Martin LimitedUSHAMARTUSHAMART	₹14,982 Cr	₹15,128 Cr	₹3,837 Cr	₹768 Cr	19.1%	₹507 Cr	12.6%	20%	15.4%	190
Godawari Power And Ispat LimitedGPILGPIL	₹14,517 Cr	₹14,943 Cr	₹5,808 Cr	₹1,263 Cr	23.3%	₹808 Cr	14.9%	20.1%	14.9%	73
Gallantt Ispat LimitedGALLANTTGALLANTT	₹12,793 Cr	₹13,340 Cr	₹4,437 Cr	₹655 Cr	16.2%	₹436 Cr	11%	19.2%	15.7%	58
Maharashtra Seamless LimitedMAHSEAMLESMAHSEAMLES	₹9,363 Cr	₹9,377 Cr	₹4,620 Cr	₹696 Cr	14.6%	₹737 Cr	15%	13.6%	10.6%	153
Jayaswal Neco Industries LimitedJAYNECOINDJAYNECOIND	₹8,863 Cr	₹10,960 Cr	₹7,589 Cr	₹1,409 Cr	18.6%	₹564 Cr	6.5%	22.9%	17.8%	151
Sunflag Iron And Steel Company LimitedSUNFLAGSUNFLAG	₹7,812 Cr	₹8,286 Cr	₹3,995 Cr	₹476 Cr	12.1%	₹206 Cr	5.1%	3.8%	2.3%	95
Man Industries (India) LimitedMANINDSMANINDS	₹6,912 Cr	₹7,411 Cr	₹3,875 Cr	₹532 Cr	12.3%	₹204 Cr	4.8%	18.4%	9.2%	114

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,014	1,151	1,359	1,295	1,911	1,985	2,182	2,596	2,759
COGS	546	634	596	557	822	795	989	1,224	1,192
Gross profit	468	517	763	737	1,089	1,190	1,192	1,371	1,567
	319	349	552	522	697	787	794	956	1,100
	150	168	210	215	392	403	398	415	468
OPM %	14.8%	14.6%	15.5%	16.6%	20.5%	20.3%	18.3%	16%	17%
Depreciation	23	31	54	68	63	64	68	108	123
Interest	17	29	37	29	21	28	40	55	58
	—	—	42	56	52	54	81	101	102
Profit before tax	156	142	161	175	360	366	372	353	388
Tax	47	39	35	41	86	87	92	90	95
Tax %	30.2%	27.8%	21.7%	23.2%	23.8%	23.9%	24.9%	25.6%	24.5%
	109	102	126	134	274	278	279	263	293
PAT margin %	10.7%	8.9%	9.3%	10.4%	14.4%	14%	12.8%	10.1%	10.6%
EPS (₹)	41.6	41.8	50.2	53.2	109.3	111	115.1	112.3	125.8
EPS adjusted (₹)	44.4	41.8	50.2	53.2	109.3	116.3	115.1	113	125.9
Annual report	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	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	24	24	24	24	24	23	23	23	23
Reserves	622	663	684	803	920	—	1,312	1,393	1,652	1,750	2,000
Minority interest	6	4	4	6	8	—	18	27	39	41	44
	—	—	—	—	—	—	506	656	675	846	819
	346	461	674	792	864	433	250	266	304	337	364
Total equity & liabilities	1,004	1,154	1,387	1,626	1,816	457	2,111	2,364	2,692	2,996	3,249
	139	176	217	273	434	382	404	425	726	844	842
CWIP	4	17	53	54	20	—	17	40	14	33	14
Investments	208	279	237	263	271	—	437	344	422	445	483
	654	682	880	1,036	1,091	75	1,253	1,555	1,531	1,673	1,909
Total assets	1,004	1,154	1,387	1,626	1,816	457	2,111	2,364	2,692	2,996	3,249

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Scaffoldings Division	1,342.53	187.52	1,616.6	91.75	1,524.85	12.3
Drum Closures Division	636.26	233.29

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	44.9%	56.1%	57%	57%	60%	54.7%	52.8%	56.8%
EBITDA margin %	14.6%	15.5%	16.6%	20.5%	20.3%	18.3%	16%	17%
EBIT margin %	11.9%	11.5%	11.4%	17.2%	17.1%	15.2%	11.8%	12.5%
PAT margin %	8.9%	9.3%	10.4%	14.4%	14%	12.8%	10.1%	10.6%
Working capital
Receivable days	103	92	—	87	77	76	76	88
Inventory days	275	323	—	244	363	264	221	241
Payable days	1	0	—	63	66	34	34	31
NWC days	377	415	—	268	374	306	263	298
Leverage
Current ratio	1.55	1.73	—	2.1	1.8	1.97	1.81	2.04
Debt to EBITDA	—	—	—	1.29	1.63	1.69	2.04	1.75
Debt to equity	—	—	—	0.38	0.46	0.4	0.48	0.41
Interest coverage	4.7	5.3	7.1	17.7	14	10.6	7.4	7.7
Asset turnover	0.71	0.75	2.83	0.91	0.84	0.81	0.87	0.85
Return ratios
Return on assets %	6.3%	6.9%	29.3%	13%	11.8%	10.4%	8.8%	9%
Return on capital employed %	16%	19.3%	—	26.1%	26.4%	24.5%	20.4%	20.3%
Return on equity %	12.4%	13.4%	—	20.5%	19.7%	16.7%	14.8%	14.5%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.61%	74.61%	74.61%	74.61%	74.75%	74.75%	74.75%	74.75%	74.75%	74.75%	74.75%	74.75%
	0.69%	0.65%	0.63%	0.7%	0.62%	0.46%	0.39%	0.48%	0.51%	0.43%	0.4%	0.4%
	4.17%	4.05%	3.97%	6.31%	6.85%	6.92%	7.02%	6.6%	6.97%	6.99%	6.85%	7.19%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	20.53%	20.69%	20.79%	18.38%	17.78%	17.87%	17.84%	18.17%	17.77%	17.83%	18%	17.66%
No. of shareholders	—	—	—	—	—	—	—	—	52,071	49,559	47,364	46,501

Promoter holding up 0.14 percentage points since Sep 2023.

Mr. Sharad Kumar SarafExecutive Director-Chairperson related to Promoter-MD
Mr. Sudarshan Kumar SarafExecutive Director-MD
Mr. Ashish Kumar SarafExecutive Director
Mr. Navneet Kumar SarafExecutive Director-CEO
Mr. Atanu Anil ChoudharyExecutive Director
Mr. Aubrey Ignatius RebelloNon-Executive - Independent Director
Mr. Murarilal JhunjhunwalaNon-Executive - Independent Director
Mr. Rohit Rajgopal DhootNon-Executive - Independent Director
Mr. Shankar Shivram JadhavNon-Executive - Independent Director
Mrs. Swati Vikas KhemaniNon-Executive - Independent Director
Neeraj RaiCompany Secretary & Compliance Officer

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 1 fund houses

Held by these funds

of the company's equity

All mutual funds

2.01%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

1 schemes

		Shares
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	17	0.01	0.01%	0%	-0

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

Technocraft Industries (India) Limited hereby intimates regarding reaffirmation of CRISIL Credit Rating on Bank Facilities10 Apr 2026 from CRISIL

Investor Presentation and earnings call

Aug 2026Transcript AI SummaryPPTREC
May 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

13

Interim dividend4 Jun 2026 · ex-date₹20
Interim dividend6 Jun 2025 · ex-date₹20
Interim dividend17 Mar 2016 · ex-date₹3
Interim dividend5 Jun 2015 · ex-date₹5
Interim dividend30 May 2014 · ex-date₹5
Final dividend23 Sept 2013 · ex-date₹2
Interim dividend21 Nov 2012 · ex-date₹1
Dividend dividend20 Sept 2012 · ex-date₹1
Dividend dividend22 Sept 2011 · ex-date₹1
Dividend dividend8 Sept 2010 · ex-date₹1.5
Dividend dividend22 Sept 2009 · ex-date₹0.5
Dividend dividend6 Nov 2008 · ex-date₹1
Dividend dividend30 Aug 2007 · ex-date₹1.5

1

Board meeting to consider results13 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

20 announcementsExport CSV

30 Sept 2026, 3:49 pmCompany Update

Announcement under Regulation 30 (LODR)-Updates on Acquisition

Acquisition PDF

29 Sept 2026, 11:36 amCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

28 Sept 2026, 6:23 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

28 Sept 2026, 2:43 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

5 Sept 2026, 11:41 amCompany Update

Letter To Shareholders

General PDF

5 Sept 2026, 11:05 amCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

2 Sept 2026, 11:11 amOthers

Business Responsibility and Sustainability Reporting (BRSR)

Business Responsibility and Sustainability Reporting (BRSR) PDF

2 Sept 2026, 10:54 amOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

Date	Category	Subject	Filing
30 Sept 2026, 3:49 pm	Company Update Acquisition	Announcement under Regulation 30 (LODR)-Updates on Acquisition	PDF
29 Sept 2026, 11:36 am	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	44.9%	56.1%	57%	57%	60%	54.7%	52.8%	56.8%
EBITDA margin %	14.6%	15.5%	16.6%	20.5%	20.3%	18.3%	16%	17%
EBIT margin %	11.9%	11.5%	11.4%	17.2%	17.1%	15.2%	11.8%	12.5%
PAT margin %	8.9%	9.3%	10.4%	14.4%	14%	12.8%	10.1%	10.6%
Working capital
Receivable days	103	92	—	87	77	76	76	88
Inventory days	275	323	—	244	363	264	221	241
Payable days	1	0	—	63	66	34	34	31
NWC days	377	415	—	268	374	306	263	298
Leverage
Current ratio	1.55	1.73	—	2.1	1.8	1.97	1.81	2.04
Debt to EBITDA	—	—	—	1.29	1.63	1.69	2.04	1.75
Debt to equity	—	—	—	0.38	0.46	0.4	0.48	0.41
Interest coverage	4.7	5.3	7.1	17.7	14	10.6	7.4	7.7
Asset turnover	0.71	0.75	2.83	0.91	0.84	0.81	0.87	0.85
Return ratios
Return on assets %	6.3%	6.9%	29.3%	13%	11.8%	10.4%	8.8%	9%
Return on capital employed %	16%	19.3%	—	26.1%	26.4%	24.5%	20.4%	20.3%
Return on equity %	12.4%	13.4%	—	20.5%	19.7%	16.7%	14.8%	14.5%

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	145	54	-27	26	201	258	108	136	308	276	243
	-42	-49	-41	-117	-165	-30	-132	22	-339	-185	-116
	-67	-7	53	98	-25	-215	20	-61	-21	-45	-131
Net cash flow	35	-2	-14	8	12	13	-4	97	-52	47	-4
Free cash flow	—	—	—	—	—	223	43	136	308	276	243
CFO / Operating profit %	—	—	-17.8%	15.8%	95.8%	120%	27.4%	33.7%	77.2%	66.5%	52%

Technocraft Industries (India) Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

13

1

Announcements

13

1

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Drum Closure Division · revenue

Technocraft Industries (India) Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Dividends13

Board meetings1

Announcements

Dividends13

Board meetings1

Not in the F&O segment

Ratio timeline

Quarterly record

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Drum Closure Division · revenue

13

1

13

1