Tega Industries Ltd. (IN:TEGA)
:TEGA
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Tega Industries Ltd.
(TEGA)
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Rating:61Neutral
Price Target:
₹1,861.00
▼(-4.42% Downside)
Action:Reiterated
Date:05/30/26
The score is primarily supported by strong revenue growth and a solid, low-leverage balance sheet, but is held back by recent margin/ROE deterioration and only mixed cash-flow consistency. Technicals are neutral-to-soft, and the high P/E with a low dividend yield further limits the overall score.
Positive Factors
Recurring consumables revenue
Tega's core business supplies engineered wear parts (mill liners, components) that require periodic replacement. That creates durable, recurring demand tied to mine throughput and ore wear characteristics, supporting repeat orders and steady revenue over multi-year cycles.
Negative Factors
Margin and ROE deterioration
Despite higher sales, gross and net margins declined and ROE contracted materially in FY2026. Persistent margin pressure reduces earnings quality and limits the company's ability to convert revenue growth into sustainable profitability and returns on the enlarged equity base.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring consumables revenue
Tega's core business supplies engineered wear parts (mill liners, components) that require periodic replacement. That creates durable, recurring demand tied to mine throughput and ore wear characteristics, supporting repeat orders and steady revenue over multi-year cycles.
Read all positive factors
Tega Industries Ltd. (TEGA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹134.52B
Dividend Yield0.1%
Average Volume (3M)24.41K
Price to Earnings (P/E)95.8
Beta (1Y)0.50
Revenue Growth3.25%
EPS Growth-31.59%
CountryIN
Employees702
SectorBasic Materials
Sector Strength58
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)35.53
Shares Outstanding75,127,700
10 Day Avg. Volume4,036
30 Day Avg. Volume24,407
Financial Highlights & Ratios
PEG Ratio-2.60
Price to Book (P/B)3.45
Price to Sales (P/S)6.95
P/FCF Ratio54.84
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)30.65
Revenue Forecast (FY)₹19.82B
Tega Industries Ltd. Business Overview & Revenue Model
Company Description
Tega Industries Limited, a subsidiary of Nihal Fiscal Services Private Limited, was founded in 1976 in Kolkata, India, initially as Tega India Limited, before adopting its current name in January 2002. The company specializes in the engineering, p...
How the Company Makes Money
TEGA primarily makes money by manufacturing and selling engineered consumables and equipment used in mineral processing, where parts are subject to wear and require periodic replacement. A core revenue stream comes from supplying mill liners and o...
Tega Industries Ltd. Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
76
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 16.80B | 16.92B | 16.12B | 14.64B | 11.94B | 9.33B |
| Gross Profit | 9.74B | 6.32B | 9.13B | 8.18B | 6.67B | 5.30B |
| EBITDA | 4.19B | 3.19B | 3.85B | 3.40B | 2.94B | 2.04B |
| Net Income | 2.36B | 1.43B | 2.00B | 1.94B | 1.84B | 1.17B |
Balance Sheet | ||||||
| Total Assets | 21.50B | 43.15B | 20.95B | 18.90B | 16.34B | 11.79B |
| Cash, Cash Equivalents and Short-Term Investments | 4.12B | 24.14B | 3.61B | 3.35B | 2.38B | 2.15B |
| Total Debt | 3.05B | 3.98B | 3.30B | 3.08B | 3.61B | 2.45B |
| Total Liabilities | 6.74B | 9.07B | 6.99B | 6.98B | 5.85B | 4.43B |
| Stockholders Equity | 14.76B | 34.07B | 13.97B | 11.92B | 10.49B | 7.36B |
Cash Flow | ||||||
| Free Cash Flow | 1.05B | 2.14B | 248.50M | 1.97B | 863.40M | -272.86M |
| Operating Cash Flow | 1.54B | 3.50B | 1.95B | 2.52B | 1.79B | 137.13M |
| Investing Cash Flow | -888.49M | -10.04B | -1.32B | -906.63M | -2.34B | -256.40M |
| Financing Cash Flow | -722.41M | 16.90B | -380.19M | -1.15B | 630.35M | 30.85M |
Tega Industries Ltd. Technical Analysis
Positive
1947.05
Price Trends
1699.20
Positive
1710.47
Positive
1822.02
Negative
Market Momentum
37.10
Negative
55.19
Neutral
74.71
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TEGA, the sentiment is Positive. The current price of 1947.05 is above the 20-day moving average (MA) of 1758.33, above the 50-day MA of 1699.20, and above the 200-day MA of 1822.02, indicating a neutral trend. The MACD of 37.10 indicates Negative momentum. The RSI at 55.19 is Neutral, neither overbought nor oversold. The STOCH value of 74.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:TEGA.
Tega Industries Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ₹436.27B | 33.30 | ― | 0.41% | 3.09% | 20.06% | |
69 Neutral | ₹153.93B | 40.47 | ― | 0.43% | 1.02% | -10.02% | |
65 Neutral | ₹289.65B | 50.21 | ― | 0.50% | 21.42% | 17.24% | |
64 Neutral | ₹94.32B | 35.64 | ― | 0.30% | 11.83% | 2.18% | |
62 Neutral | ₹157.07B | 55.16 | ― | 0.51% | 4.54% | 1.65% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | ₹134.52B | 95.83 | ― | 0.10% | 3.25% | -31.59% |
* Basic Materials Sector Average
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Tega Industries Ltd. Corporate Events
Tega Industries Secures ₹1,500-Crore Facility to Fund Molycop Acquisition
May 23, 2026
Tega Industries Ltd. has signed a rupee facility agreement with a lender group comprising Standard Chartered Bank, Axis Bank and Export-Import Bank of India, with Catalyst Trusteeship as facility agent, to secure financing of up to ₹1,500 cr...
Tega Industries Publishes Postal Ballot and E-Voting Notice in Newspapers
Mar 20, 2026
Tega Industries Ltd. has notified the stock exchanges that it has published a newspaper advertisement regarding its Postal Ballot Notice and e-voting information. The notice appeared on March 20, 2026, in the English daily Financial Express and th...
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.