Tijaria Polypipes Limited (TIJARIA) AI Stock Analysis

• Market Cap: ₹142.85M
• Dividend Yield: N/A
• Average Volume (3M): 7.31K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.16
• Revenue Growth: -100.00%
• EPS Growth: -54.11%
• Country: IN
• Employees: 1
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Construction
• EPS (TTM): -0.11
• Shares Outstanding: 28,626,580
• 10 Day Avg. Volume: 8,901
• 30 Day Avg. Volume: 7,309
• PEG Ratio: -0.03
• Price to Book (P/B): -0.47
• Price to Sales (P/S): 51.81
• P/FCF Ratio: -2.99
• 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: ₹5.00 ▲(2.88% Upside)
• Action: Reiterated Date: 02/25/26
• Date: Action: Reiterated 02/25/26

The score is primarily dragged down by poor financial performance (losses, negative margins, negative equity, and negative operating/free cash flow). Technical indicators add further pressure with the stock trading below key moving averages and weak momentum. Valuation provides limited support because the negative P/E is driven by losses and there is no dividend yield data.

Positive Factors

Essential End Markets

Tijaria serves structurally stable end markets—water supply, plumbing and irrigation—where demand is driven by infrastructure, construction and agriculture. This provides a steady addressable market over months, supporting baseline revenue potential despite cyclical swings.

Product-level Profitability

A positive gross margin indicates product economics can cover direct costs, giving management a foundation to restore operating leverage. If SG&A and overhead are managed, the business can translate unit-level profitability into sustained net profitability over coming quarters.

Access to External Financing

Recurring positive cash from financing indicates the company has been able to secure external capital. That access can be a durable bridge to stabilize operations, fund working capital, or finance turnaround efforts while structural fixes are implemented.

Negative Factors

Negative Equity / Weak Balance Sheet

Negative shareholders' equity is a severe structural impairment: it signals liabilities exceed assets, constrains borrowing capacity, raises default risk, and limits strategic flexibility. It materially increases the probability of restructurings or refinancing needs over the medium term.

Persistent Negative Cash Flow

Sustained negative operating and free cash flow erodes liquidity and forces reliance on financing or asset sales. Over months, this undermines the firm’s ability to invest in working capital, maintain operations, and pursue corrective actions without dilutive or costly funding.

Collapsed Revenue & Negative Margins

A dramatic revenue collapse combined with negative operating margins indicates structural demand loss or market share decline and poor fixed-cost absorption. Reversing that requires sustained top-line recovery and margin improvement, which is a multi-quarter challenge.

Tijaria Polypipes Limited Business Overview & Revenue Model

Company Description

Tijaria Polypipes Limited manufactures and sells plastic products and textiles under the Tijaria and Vikas brand names in India and internationally. The company operates in two segments, Pipes and Textiles. It offers high density poly ethylene (HDPE) pipes and coils, permanently lubricated HDPE ducts, HDPE double wall corrugated structured-wall pipes, HDPE sprinkler systems, medium density poly ethylene pipes, unplasticised ploy vinyl chloride (uPVC) rigid pipes, uPVC elastomeric seal ring fit pipes, SWR pipes and fittings, PVC-U underground drainage and sewerage pipes, polyester partially oriented yarns, polyester drawn textured yarns, polyester mink blankets, and disposable masks. The company was incorporated in 2006 and is based in Jaipur, India.

How the Company Makes Money

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Tijaria Polypipes Limited Financial Statement Overview

Summary

Weak fundamentals: declining revenue, negative net income with negative EBIT/EBITDA margins, negative operating and free cash flow, and a highly concerning balance sheet with negative equity (implying elevated financial risk).

Income Statement

The company has shown a highly volatile revenue trajectory, with recent total revenue significantly declining from prior years. The gross profit margin is positive but net income remains negative, indicating operational challenges. The EBIT Margin and EBITDA Margin are also negative, reflecting issues in operational efficiency and profitability.

Balance Sheet

The balance sheet reveals a concerning financial structure. The Debt-to-Equity Ratio is negative due to negative equity, highlighting high leverage and financial instability. Stockholders' equity is negative, indicating asset insufficiency to cover liabilities. Return on Equity is not meaningful due to negative equity.

Cash Flow

The cash flow situation indicates operational challenges, with negative operating cash flow in the latest period. Free cash flow is also negative, but some periods show positive cash from financing activities. The fluctuations suggest a need for improved cash management strategies.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	-13.00K	2.98M	1.49M	138.47M	548.82M	624.58M
Gross Profit	-1.43M	1.53M	19.00K	-19.32M	12.93M	125.31M
EBITDA	-31.63M	31.42M	-1.35M	-41.20M	-98.77M	-32.03M
Net Income	-45.45M	-54.30M	-29.16M	-94.56M	-217.05M	-140.13M
Balance Sheet
Total Assets	490.78M	544.77M	545.21M	615.27M	677.04M	968.65M
Cash, Cash Equivalents and Short-Term Investments	18.54M	18.23M	17.58M	885.24K	457.97K	24.58M
Total Debt	724.02M	774.02M	724.02M	763.68M	691.54M	658.77M
Total Liabilities	822.42M	869.80M	815.93M	856.83M	824.23M	899.03M
Stockholders Equity	-331.65M	-325.02M	-270.72M	-241.56M	-147.19M	69.62M
Cash Flow
Free Cash Flow	51.43M	-51.60M	38.81M	-53.25M	20.02M	-74.21M
Operating Cash Flow	51.43M	-51.60M	38.81M	-53.25M	21.50M	-34.05M
Investing Cash Flow	569.00K	1.42M	488.76K	1.68M	5.82M	-35.80M
Financing Cash Flow	-52.01M	49.82M	-39.82M	52.00M	-51.44M	86.03M

Tijaria Polypipes Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4.86
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TIJARIA, the sentiment is Positive. The current price of 4.86 is above the 20-day moving average (MA) of 4.83, above the 50-day MA of 4.80, and below the 200-day MA of 6.38, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 51.16 is Neutral, neither overbought nor oversold. The STOCH value of 72.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:TIJARIA.

Tijaria Polypipes Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TPLPLASTEH	71 Outperform	₹4.76B	15.16	―	1.49%	14.78%	19.77%
SAHYADRI	65 Neutral	₹2.44B	14.07	―	0.40%	1.59%	-15.40%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
VIKASECO	52 Neutral	₹2.25B	-45.38	―	―	7.61%	-50.76%
KRITI	44 Neutral	₹4.09B	-229.02	―	0.22%	-19.06%	-175.93%
TIJARIA	42 Neutral	₹142.85M	-9.71	―	―	-100.00%	-54.11%

Tijaria Polypipes Limited Corporate Events

Tijaria Polypipes discloses Bank of India case admitted at NCLT Jaipur

Tijaria Polypipes Limited has disclosed that Bank of India has filed a case against the company before the National Company Law Tribunal (Jaipur), which has been registered as IA No. 491/JPR/2025. The matter is scheduled to be listed on 13 March 2026, and the company has informed the stock exchanges of this development in compliance with disclosure regulations, signaling potential legal and financial implications that stakeholders will monitor.

The disclosure underlines ongoing judicial proceedings that could affect Tijaria Polypipes Limited’s operations or capital structure, depending on the outcome at the NCLT. While the company has not provided further details on the nature or quantum of the claim, the involvement of a major lender and the NCLT forum suggests that investors and creditors will closely track the case’s progress and any subsequent resolutions or restructuring moves.