Stock Performance and Market Context
On 24 Feb 2026, Thacker & Company Ltd’s share price touched an intraday low of Rs.1000, representing a 16.67% decline for the day and a 16.25% drop in the closing price. This marks the lowest price level for the stock in the past year, down sharply from its 52-week high of Rs.2084. The stock has experienced a consecutive three-day decline, losing 18.95% over this period, and has underperformed its NBFC sector by 14.45% today.
The stock’s volatility was notably high, with an intraday volatility of 9.09% based on the weighted average price. Additionally, Thacker & Company Ltd is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling sustained downward momentum.
In contrast, the broader market has shown mixed signals. The Sensex fell sharply by 826.62 points (-1.28%) to close at 82,225.92, after opening 242.12 points lower. Despite this decline, the Sensex remains only 4.78% below its 52-week high of 86,159.02. The index is trading below its 50-day moving average, though the 50DMA remains above the 200DMA, indicating some underlying market resilience.
Financial Performance and Valuation Concerns
Thacker & Company Ltd’s financial metrics reveal several areas of concern that have contributed to the stock’s decline. Over the past five years, the company’s net sales have contracted at an annual rate of -2.09%, reflecting subdued growth in its core business. The latest half-year results showed cash and cash equivalents at a low of Rs.0.57 crore, indicating limited liquidity buffers.
Profitability has also weakened, with profits falling by 2.7% over the past year. The company’s return on equity (ROE) stands at 11.4%, which, while positive, is not sufficient to justify its current valuation. The stock trades at a price-to-book value of 0.7, which is considered expensive relative to its peers’ historical averages. This premium valuation, despite declining earnings and sales, has weighed on investor sentiment.
Furthermore, the company’s market capitalisation grade is rated 4, reflecting a mid-tier market cap status, but its overall Mojo Score has deteriorated to 30.0, resulting in a downgrade from a previous Hold rating to a Sell on 18 Nov 2025. This downgrade underscores the challenges faced by the company in delivering consistent growth and value.
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Comparative Market Performance
Over the last year, Thacker & Company Ltd has significantly underperformed the broader market. The stock has delivered a negative return of -29.22%, while the Sensex has generated a positive return of 10.44%. Even the broader BSE500 index has returned 13.47% in the same period, highlighting the stock’s relative weakness.
This underperformance is notable given the company’s low average debt-to-equity ratio of zero, which typically would be a positive factor for NBFCs. However, the lack of leverage has not translated into growth or improved profitability, which has likely contributed to the stock’s diminished appeal.
Promoters remain the majority shareholders, maintaining control over the company’s strategic direction. Despite this, the stock’s valuation and performance metrics have not aligned favourably with market expectations.
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Summary of Key Metrics
To summarise, Thacker & Company Ltd’s current share price of Rs.1000 represents a 52-week low, down more than 50% from its peak of Rs.2084. The stock’s recent three-day decline of nearly 19% and daily volatility of over 9% reflect heightened market uncertainty around the company’s prospects.
Financially, the company has experienced negative sales growth over five years, declining profits in the past year, and a modest ROE of 11.4%. Its valuation remains elevated relative to peers, with a price-to-book ratio of 0.7 despite deteriorating fundamentals. The downgrade to a Sell rating and a Mojo Score of 30.0 further indicate caution.
While the broader market and sector have shown resilience, Thacker & Company Ltd’s performance has lagged significantly, underscoring the challenges faced by this NBFC in the current environment.
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