Techindia Nirman Ltd. (TECHIN) AI Stock Analysis

• Market Cap: ₹217.33M
• Dividend Yield: N/A
• Average Volume (3M): 0.00
• Price to Earnings (P/E): ―
• Beta (1Y): 0.25
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: IN
• Employees: 2
• Sector: Technology
• Sector Strength: 88
• Industry: Real Estate - Development
• EPS (TTM): -0.04
• Shares Outstanding: 14,326,000
• 10 Day Avg. Volume: 0
• 30 Day Avg. Volume: 0
• PEG Ratio: -0.38
• Price to Book (P/B): 2.76
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 2.16
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 42 Neutral
• Price Target: ₹14.50 ▼(-4.42% Downside)
• Action: N/A Date: 01/04/26
• Date: Action: N/A 01/04/26

The score is driven primarily by weak financial performance—minimal/irregular revenue, widening losses, and very high leverage with declining equity. A strong but volatile 2025 cash-flow rebound offers some support, while technicals show limited momentum and the stock remains below its 200-day average. Negative earnings (negative P/E) and no stated dividend yield further limit valuation support.

Techindia Nirman Ltd. Business Overview & Revenue Model

Company Description

Techindia Nirman Limited engages in the real estate and infrastructure development businesses in India. The company was formerly known as Nath Seeds Limited. Techindia Nirman Limited was incorporated in 1980 and is based in Mumbai, India.

Techindia Nirman Ltd. Financial Statement Overview

Summary

Financial performance is weak: revenue is effectively absent in multiple years and losses have deepened (net income to -8.3M in 2025). Leverage is very high (debt-to-equity ~6.4x) with declining equity, raising balance-sheet risk. Cash flow improved sharply in 2025 (operating/FCF +139.8M) but has been highly volatile, suggesting timing-driven rather than durable cash generation.

Income Statement

Operating performance is weak and volatile. Revenue is effectively absent in most years (including 2024 and 2025), and the company has posted consistent losses, with net income worsening from -3.5M (2023) to -8.3M (2025). Negative gross profit and negative EBITDA/EBIT indicate the cost structure is not being covered by recurring sales, leaving profitability highly dependent on non-recurring items or timing of project recognition.

Balance Sheet

Leverage is elevated and rising risk remains the key issue. Total debt is high relative to equity (debt-to-equity ~6.4x in 2025; ~5.9–6.9x across recent years), while equity has drifted down from ~137.7M (2020) to ~109.2M (2025), reflecting accumulated losses. Total assets are sizable (~854.6M in 2025), but persistently negative returns on equity underscore that the balance sheet is not generating shareholder value and is more vulnerable to refinancing or asset-value swings.

Cash Flow

Cash flow is the relative bright spot but remains inconsistent. Operating cash flow swung from negative in 2021–2024 (including -122.2M in 2024) to strongly positive in 2025 (+139.8M), with free cash flow matching operating cash flow in each year provided. However, given continued net losses and the sharp year-to-year reversals, cash generation appears timing-driven (common in development businesses) and may not yet be durable enough to offset leverage risk.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	0.00	0.00	0.00	112.41M	0.00	0.00
Gross Profit	-233.00K	-433.00K	-267.00K	112.41M	-262.00K	-262.00K
EBITDA	-2.35M	-5.67M	-3.43M	-3.24M	-4.96M	-4.43M
Net Income	-5.03M	-8.27M	-3.97M	-3.51M	-5.26M	-4.72M
Balance Sheet
Total Assets	839.74M	854.65M	923.48M	845.74M	709.59M	699.41M
Cash, Cash Equivalents and Short-Term Investments	25.31M	40.17M	1.92M	1.64M	914.00K	644.00K
Total Debt	703.45M	701.05M	805.26M	722.60M	576.47M	560.98M
Total Liabilities	731.78M	745.44M	806.00M	724.27M	584.99M	569.54M
Stockholders Equity	107.96M	109.20M	117.48M	121.47M	124.60M	129.87M
Cash Flow
Free Cash Flow	0.00	139.81M	-122.22M	-145.37M	-5.46M	-12.25M
Operating Cash Flow	0.00	139.81M	-122.22M	-145.37M	-5.45M	-12.22M
Investing Cash Flow	0.00	601.00K	39.84M	7.76M	-9.77M	-12.73M
Financing Cash Flow	0.00	-102.18M	82.66M	138.33M	15.48M	25.50M

Techindia Nirman Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
HEADSUP	53 Neutral	₹154.36M	-8.35	―	―	―	―
COMPINFO	46 Neutral	₹96.06M	-1.46	―	―	―	―
TECHIN	42 Neutral	₹217.33M	-116.67	―	―	―	―
MELSTAR	42 Neutral	₹61.70M	-2.10	―	―	―	―
ROLTA	41 Neutral	₹277.04M	-0.91	―	―	―	―

Techindia Nirman Ltd. Corporate Events

Techindia Nirman Flags Exchange Warnings Over Delayed CIRP Disclosures

Techindia Nirman Ltd. has disclosed that it received warning letters from both the National Stock Exchange of India and BSE over non-compliance and delayed compliance with SEBI disclosure rules. The lapses relate specifically to late reporting of financial default events and key milestones in the company’s Corporate Insolvency Resolution Process, including the National Company Law Tribunal order and the appointment of a resolution professional.

The company has acknowledged the exchanges’ observations, expressed regret for the delays, and attributed the non-compliance to operational reasons. Management says it has implemented corrective and preventive measures to avoid a recurrence, signaling an effort to restore regulatory discipline and maintain its listing status, which is critical for investor confidence during its ongoing insolvency resolution.