Tirupati Forge

Why is Tirupati Forge Ltd falling/rising?

As of 22-Jun, Tirupati Forge Ltd's stock price is rising to 48.90, reflecting a year-to-date increase of 44.08% and a remarkable 526.92% return over the past three years, supported by strong financial health and growing investor confidence. The company's low Debt to EBITDA ratio and robust sales growth further enhance its positive outlook.

As of 22-Jun, Tirupati Forge Ltd's stock price is rising, currently at 48.90, reflecting a change of 0.92 (1.92%) upwards. This upward movement can be attributed to several positive factors. The stock has shown impressive performance over various periods, with a year-to-date increase of 44.08%, significantly outperforming the Sensex, which has declined by 7.76% during the same timeframe. Additionally, the stock has delivered a remarkable 526.92% return over the past three years, indicating strong long-term growth potential.<BR><BR>The company's financial health also supports this rise, as evidenced by a low Debt to EBITDA ratio of 2.62 times, showcasing its strong ability to service debt. Furthermore, Tirupati Forge has experienced robust growth in net sales, with an annual growth rate of 39.50% and operating profit growth of 53.20%. The recent positive results, including higher net sales of Rs 130.18 crore for the nine-month period, further bolster investor confidence.<BR><BR>Moreover, the increase in promoter stake by 0.74% over the previous quarter, now totaling 49.75%, signals rising confidence in the company's future prospects. Despite a slight underperformance today compared to its sector, the stock is trading above its moving averages across multiple timeframes, indicating a strong upward trend. Overall, these factors contribute to the rising stock price of Tirupati Forge Ltd.

Which are the latest news on Tirupati Forge?

What does Tirupati Forge do?

Tirupati Forge Ltd is a micro-cap company based in Gujarat that manufactures closed die forged products, including auto components and gears. As of March 2026, it reported net sales of ₹42 Cr and a net profit of ₹2 Cr, with a market cap of ₹575 Cr.

Overview:<BR>Tirupati Forge Ltd is a micro-cap company engaged in the manufacturing of closed die forged products, including auto components, bearings, and gears, within the castings and forgings industry.<BR><BR>History:<BR>Tirupati Forge Limited was incorporated as a Private Limited Company on August 17, 2012, in Gujarat, and later converted into a Public Limited Company on August 11, 2017. The most recent quarterly results reported net sales and profit for March 2026.<BR><BR>Financial Snapshot:<BR>Net Sales: 42 Cr (Quarterly Results - Mar 2026) <BR>Net Profit: 2 Cr (Quarterly Results - Mar 2026) <BR>Market Cap: INR 575 Cr (Micro Cap)<BR><BR>Key Metrics:<BR>P/E: 87.00 <BR>Industry P/E: 46 <BR>Dividend Yield: 0.00% <BR>Debt Equity: 0.27 <BR>Return on Equity: 4.81% <BR>Price to Book: 4.26 <BR><BR>Contact Details:<BR>Address: Plot No 1-5 Survey No 92/1, Near Shan Cement NH 27 Rajkot Gujarat : 360311 <BR>Tel: 91-2827-27051213 <BR>Email: info@tirupatiforge.com <BR>Website: http://www.tirupatiforge.com

How big is Tirupati Forge?

As of 10th June, Tirupati Forge Ltd has a market capitalization of 575.00 Cr, with Net Sales of 162.48 Cr and a Net Profit of 6.29 Cr reported in the latest four quarters. The company has Shareholder's Funds of 107.06 Cr and Total Assets of 145.81 Cr for the annual period ending March 2025.

As of 10th June, Tirupati Forge Ltd has a market capitalization of 575.00 Cr, categorizing it as a Micro Cap company.<BR><BR>In the latest four quarters, Tirupati Forge reported Net Sales of 162.48 Cr and a Net Profit of 6.29 Cr.<BR><BR>For the latest annual period ending March 2025, the company had Shareholder's Funds of 107.06 Cr and Total Assets amounting to 145.81 Cr.

Who are in the management team of Tirupati Forge?

The management team of Tirupati Forge includes Hiteshkumar Gordhanbhai Thummar (Chairman & Managing Director), Bhavesh Tulshibhai Barsiyaa (Whole-time Director), Darshna Hiteshbhai Thummar (Non-Executive Director), and three Independent Directors: Jagruti Nitinkumar Erda, Sachin Praful Ravani, and A. M. Shrivastava. They oversee the company's operations and strategic direction.

The management team of Tirupati Forge includes the following individuals:<BR><BR>1. **Hiteshkumar Gordhanbhai Thummar** - Chairman & Managing Director<BR>2. **Bhavesh Tulshibhai Barsiyaa** - Whole-time Director<BR>3. **Darshna Hiteshbhai Thummar** - Non-Executive Director<BR>4. **Jagruti Nitinkumar Erda** - Independent Director<BR>5. **Sachin Praful Ravani** - Independent Director<BR>6. **A. M. Shrivastava** - Independent Director<BR><BR>This team is responsible for overseeing the company's operations and strategic direction.

Who are the peers of the Tirupati Forge?

Tirupati Forge's peers include Nelcast, Synergy Green, ANB Metal, Inv.& Prec.Cast., Kalyani Forge, Magna Electrocas, Nitin Castings, Gujarat Intrux, Amic Forging, and Krishanveer Forg. Notably, ANB Metal shows the highest 1-year return at 45.36%, while Kalyani Forge has the lowest at -16.64%, with Tirupati Forge's return at 6.30%.

Peers: The peers of Tirupati Forge are Nelcast, Synergy Green, ANB Metal, Inv.& Prec.Cast., Kalyani Forge, Magna Electrocas, Nitin Castings, Gujarat Intrux, Amic Forging, and Krishanveer Forg.<BR><BR>Quality Snapshot: Excellent management risk is observed at Gujarat Intrux, while Average management risk is found at Nelcast, Synergy Green, ANB Metal, Inv.& Prec.Cast., Tirupati Forge, Kalyani Forge, Magna Electrocas, Nitin Castings, Amic Forging, and Krishanveer Forg. For growth, Excellent growth is seen at ANB Metal and Tirupati Forge, Good growth is noted at Nelcast, Kalyani Forge, Magna Electrocas, and Amic Forging, while Average growth is present at Inv.& Prec.Cast., Nitin Castings, and Gujarat Intrux, and Below Average growth is found at Synergy Green and Krishanveer Forg. In terms of Capital Structure, Excellent capital structure is noted at Magna Electrocas, Nitin Castings, and Gujarat Intrux, while Good capital structure is observed at Tirupati Forge and Average capital structure is found at Nelcast, Synergy Green, Inv.& Prec.Cast., Kalyani Forge, and Amic Forging.<BR><BR>Return Snapshot: The peer with the highest 1-year return is ANB Metal with 45.36%, while Kalyani Forge has the lowest at -16.64%. Tirupati Forge's own 1-year return is 6.30%, which is higher than Kalyani Forge's but lower than ANB Metal's. Additionally, Kalyani Forge is the only peer with a negative six-month return.

Are Tirupati Forge Ltd latest results good or bad?

Tirupati Forge Ltd's latest results show strong revenue growth of 52.40% year-on-year, but profitability is a concern with a 24.75% decline in net profit from the previous quarter and shrinking operating margins. Investors should be cautious due to reliance on non-operating income, indicating potential challenges ahead.

Tirupati Forge Ltd's latest results present a mixed picture. On one hand, the company achieved a significant year-on-year revenue growth of 52.40%, with net sales reaching ₹41.91 crores in Q4 FY26, up from ₹27.50 crores in the same quarter last year. This indicates strong top-line momentum and suggests that the company is successfully expanding its market presence.<BR><BR>However, the results also reveal concerning trends regarding profitability. The net profit for the quarter was ₹1.52 crores, which represents a 24.75% decline compared to the previous quarter, although it is a 16.92% increase year-on-year. More troubling is the contraction in operating margins, which fell to 9.21% from 10.47% in the previous quarter, indicating challenges in maintaining profitability despite revenue growth.<BR><BR>Additionally, a significant portion of the profit before tax (54.59%) came from non-operating income, raising concerns about the sustainability of the company's earnings quality. The reliance on non-core income sources suggests that the operational profitability may be under pressure, which could impact future performance.<BR><BR>In summary, while Tirupati Forge has demonstrated impressive revenue growth, the declining margins and reliance on non-operating income point to underlying challenges that investors should monitor closely. The overall assessment leans towards caution, as the company navigates these profitability pressures amidst its growth trajectory.

Should I buy, sell or hold Tirupati Forge Ltd?

Is Tirupati Forge overvalued or undervalued?

As of November 12, 2025, Tirupati Forge is considered overvalued with a high PE ratio of 81.92 and poor financial performance metrics, resulting in a valuation grade shift from fair to expensive.

As of 12 November 2025, the valuation grade for Tirupati Forge has moved from fair to expensive. The company is currently overvalued, as indicated by its high PE ratio of 81.92, an EV to EBIT of 65.19, and an EV to EBITDA of 35.23. In comparison, Bharat Forge, a peer in the same industry, has a PE ratio of 61.51 and an EV to EBITDA of 26.34, while CIE Automotive, which is considered attractive, shows a significantly lower PE of 20.48 and an EV to EBITDA of 12.16.<BR><BR>The company's financial performance metrics, such as a ROCE of 5.75% and a ROE of 4.73%, suggest inefficiencies relative to its valuation. Additionally, Tirupati Forge has underperformed against the Sensex, with a year-to-date return of -40.87% compared to the Sensex's 9.44%. Overall, these factors reinforce the conclusion that Tirupati Forge is overvalued in the current market environment.

How has been the historical performance of Tirupati Forge?

Tirupati Forge has shown steady growth in net sales and profitability, with net sales increasing from 26.59 crore in March 2020 to 114.98 crore in March 2025, and profit after tax rising from 0.27 crore to 7.86 crore during the same period. The company's total assets also grew significantly, reflecting a robust financial performance overall.

Answer:<BR>The historical performance of Tirupati Forge shows a steady growth in net sales and profitability over the years, with the latest figures for March 2025 indicating net sales of 114.98 crore and a profit after tax of 7.86 crore.<BR><BR>Breakdown:<BR>Tirupati Forge has demonstrated a consistent upward trend in net sales, increasing from 26.59 crore in March 2020 to 114.98 crore in March 2025. The total operating income has also risen significantly, reaching 114.98 crore in March 2025, compared to just 27.62 crore in March 2020. The company's operating profit margin, excluding other income, improved to 13.24% in March 2025, while the profit before tax was reported at 10.52 crore. The profit after tax has shown a positive trajectory, increasing from 0.27 crore in March 2020 to 7.86 crore in March 2025. On the balance sheet, total assets grew from 25.46 crore in March 2020 to 145.81 crore in March 2025, reflecting a robust increase in shareholder's funds, which reached 107.06 crore in March 2025. The cash flow from operating activities, however, has fluctuated, with a notable cash inflow of 28 crore in March 2025, indicating improved liquidity. Overall, Tirupati Forge's financial performance highlights significant growth in sales, profitability, and asset base over the years.

Is Tirupati Forge technically bullish or bearish?

As of October 23, 2025, Tirupati Forge's trend is neutral with mixed signals; while the weekly MACD and Bollinger Bands suggest potential upward movement, daily moving averages and the KST indicate some weakness.

As of 23 October 2025, the technical trend for Tirupati Forge has changed from mildly bearish to sideways. The current stance is neutral, with mixed signals across different indicators. The weekly MACD is bullish, while the monthly MACD is mildly bearish, indicating divergence in momentum. The Bollinger Bands show bullish signals on both weekly and monthly time frames, suggesting potential upward movement. However, daily moving averages are mildly bearish, and the KST is bearish on a weekly basis and mildly bearish monthly, indicating some weakness. The Dow Theory reflects a mildly bullish stance weekly but mildly bearish monthly. Overall, the strength of the current neutral stance is moderate, driven by the conflicting signals from the MACD and moving averages.

Who are the top shareholders of the Tirupati Forge?

The top shareholder of Tirupati Forge is promoter Chetna Mukeshbhai Thumar, holding 14.03%. Non-institutional investors collectively own 38.28%, while foreign institutional investors hold 0.02%, with no mutual funds or pledged promoter holdings.

The top shareholders of Tirupati Forge include Chetna Mukeshbhai Thumar, who is the promoter with the highest holding at 14.03%. The majority of the shareholding is held by non-institutional investors, with individual investors collectively holding 38.28%. Additionally, there are two foreign institutional investors (FIIs) that hold a small percentage, specifically 0.02%. There are no mutual funds currently holding shares in the company, and there are no pledged promoter holdings.

When is the next results date for Tirupati Forge?

No Upcoming Board Meetings

What is the bonus history of the Tirupati Forge?

Tirupati Forge's recent bonus history includes a 3:4 bonus issue on October 7, 2021, and a 6:10 bonus issue on October 3, 2019, demonstrating the company's commitment to rewarding shareholders.

Tirupati Forge has a notable bonus history. The most recent bonus issue was a 3:4 ratio, which was announced with an ex-date of October 7, 2021, and a record date of October 9, 2021. Prior to that, the company issued a bonus in a 6:10 ratio, with an ex-date of October 3, 2019, and a record date of October 4, 2019. This reflects the company's approach to rewarding its shareholders through bonus shares over the years.

Has Tirupati Forge declared dividend?

Tirupati Forge Ltd has declared a 1% dividend, amounting to 0.1 per share, with an ex-date of August 12, 2021. Despite the dividend declaration, the yield remains at 0%, and total returns have varied significantly over different periods, with notable gains over the longer term.

Tirupati Forge Ltd has declared a 1% dividend.<BR><BR>Dividend Details:<BR>- Percentage announced: 1%<BR>- Amount per share: 0.1<BR>- Ex-date: 12 Aug 21<BR><BR>Dividend Yield: 0%<BR><BR>Total Returns by Period:<BR>In the 6-month period, the price return was -27.24%, the dividend return was 0%, resulting in a total return of -27.24%.<BR><BR>For the 1-year period, the price return was 123.8%, the dividend return was 0%, leading to a total return of 123.8%.<BR><BR>Over the 2-year period, the price return was 357.09%, with a dividend return of 0%, culminating in a total return of 357.09%.<BR><BR>In the 3-year period, the price return was 259.14%, the dividend return was 0%, which resulted in a total return of 259.14%.<BR><BR>For the 4-year period, the price return was 31.85%, the dividend return was 0.33%, giving a total return of 32.18%.<BR><BR>In the 5-year period, the price return was 31.39%, the dividend return was 0.36%, resulting in a total return of 31.75%.<BR><BR>Overall, Tirupati Forge has declared a dividend, but the dividend yield remains at 0%, indicating that while there was a dividend declared, it has not significantly contributed to the returns in the recent periods. The total returns show a mix of performance, with notable gains over longer periods despite recent declines.