TIL Ltd. (TIL) AI Stock Analysis

• Market Cap: ₹15.05B
• Dividend Yield: N/A
• Average Volume (3M): 1.67K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.77
• Revenue Growth: 80.70%
• EPS Growth: -100.87%
• Country: IN
• Employees: 347
• Sector: Services
• Sector Strength: N/A
• Industry: Agricultural - Machinery
• EPS (TTM): -1.03
• Shares Outstanding: 66,602,060
• 10 Day Avg. Volume: 1,562
• 30 Day Avg. Volume: 1,667
• PEG Ratio: -3.36
• Price to Book (P/B): 11.63
• Price to Sales (P/S): 3.04
• P/FCF Ratio: -6.96
• 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: 39 Underperform
• Price Target: ₹197.00 ▼(-27.36% Downside)
• Action: Downgraded Date: 02/26/26
• Date: Action: Downgraded 02/26/26

The score is held down primarily by weak financial quality—especially negative free cash flow and high leverage—along with a bearish technical trend (price below key moving averages and negative MACD). Valuation is also not supportive due to a negative P/E and no dividend yield data.

Positive Factors

Strong revenue rebound

A 371% revenue rebound signals a meaningful recovery in equipment sales or order conversion, expanding the company's operating scale. If sustained, higher revenue provides base to spread fixed costs, improve utilization, and support longer-term margin recovery and aftermarket penetration.

Recurring aftermarket revenue

Aftermarket services create a recurring, higher-visibility revenue stream tied to installed equipment, improving predictability and customer stickiness. Structurally, service and spare parts revenues support margins and cash flow over equipment cycle lows, helping stabilize long-term earnings.

Improved equity position

An improving equity position suggests management has begun repairing the balance sheet, reducing insolvency risk over time. Strengthened equity can improve borrowing terms and financial flexibility, aiding longer-term investments and resilience against cyclicality in heavy equipment demand.

Negative Factors

High leverage

A debt-to-equity of 3.45 denotes heavy reliance on debt financing, raising interest burden and refinancing risk. Structurally, high leverage reduces flexibility for capex or working capital, magnifies cyclicality impact on solvency, and limits ability to invest in growth or service expansions.

Negative cash generation

Sustained negative operating and free cash flow indicate the company is not converting earnings into cash, forcing reliance on external financing. This undermines the durability of operations and aftermarket support, constrains debt repayment capacity, and heightens liquidity risk over months.

Thin profitability and margins

Very low EBIT and net margins show limited pricing power or cost inefficiencies in core equipment sales. Thin margins leave little buffer to absorb cost inflation or demand shocks, restrict internal cash generation, and hinder the company's ability to deleverage or reinvest for competitive improvements.

TIL Ltd. Business Overview & Revenue Model

Company Description

TIL Limited, together with its subsidiary, TIL Overseas PTE Limited, provides materials handling solutions in India and internationally. The company manufactures and markets a range of material handling, lifting, port, and road construction equipment. It offers rough terrain cranes, truck cranes, industrial cranes, pick and carry cranes, Manitowoc crawler cranes, grove cranes, reach stackers, forklift trucks, container handlers, etc. The company also provides crushing and screening wheel-mounted portable solutions, mobile cranes, unit equipment, and high frequency screens, as well as rock crushers, feeders, conveyors, and screens and washing equipment for open-mine and quarry operations. In addition, it deals in spares; and provides related equipment services. Further, the company offers customer support and after sales services. TIL Limited was founded in 1944 and is headquartered in Kolkata, India.

How the Company Makes Money

TIL generates revenue through multiple streams including service fees for freight forwarding and logistics services, storage fees from warehousing operations, and consultancy fees for supply chain optimization. Additionally, the company may have partnerships with major shipping lines and carriers, allowing it to earn commission on booked shipments. TIL's revenue model is further supported by its ability to leverage technology to offer value-added services such as tracking and inventory management, which enhances customer satisfaction and retention.

TIL Ltd. Financial Statement Overview

Summary

Financials are weak overall: cash generation is a major issue (negative operating cash flow and free cash flow of -1,375.3m), leverage is high (debt-to-equity 3.45; equity ratio 15.8%), and margins remain thin despite a sharp revenue rebound (371%) and a small return to positive net margin (0.9%).

Income Statement

TIL Ltd. shows a mixed performance on its income statement. The gross profit margin for 2025 is 19.9%, which is relatively low, indicating pricing pressure or cost inefficiencies. The net profit margin improved from a negative to 0.9% in 2025, suggesting some recovery in profitability. The revenue growth rate from 2024 to 2025 was a significant 371%, indicating a substantial rebound in sales. However, EBIT and EBITDA margins are low at 1.7% and 12.8% respectively, pointing to ongoing operational challenges.

Balance Sheet

The balance sheet of TIL Ltd. reflects high leverage, with a debt-to-equity ratio of 3.45 in 2025 and an equity ratio of 15.8%. This highlights a reliance on debt financing, posing financial risk. Return on equity is modest at 3.5%, showing limited returns for shareholders. Although the company has improved its equity position compared to previous years, the high debt level remains a concern.

Cash Flow

TIL Ltd.'s cash flow statement indicates significant challenges in generating cash. The operating cash flow is negative and deteriorated from the previous year, leading to a free cash flow of -1,375.3 million in 2025. The operating cash flow to net income ratio is negative, suggesting inefficiencies in converting profits to cash. The company faces serious cash management issues that could impact its ability to sustain operations without external financing.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	1.64B	3.15B	669.10M	438.30M	662.40M	3.11B
Gross Profit	584.40M	628.00M	-227.70M	129.70M	-376.10M	856.30M
EBITDA	225.07M	402.00M	2.30B	-495.90M	-3.71B	-215.90M
Net Income	35.40M	28.60M	2.54B	-910.20M	-4.31B	-684.80M
Balance Sheet
Total Assets	0.00	5.22B	4.14B	3.50B	3.80B	7.39B
Cash, Cash Equivalents and Short-Term Investments	85.50M	70.80M	90.40M	48.10M	19.50M	356.30M
Total Debt	0.00	2.84B	1.72B	4.11B	4.08B	3.74B
Total Liabilities	-823.60M	4.40B	3.82B	6.43B	5.81B	5.09B
Stockholders Equity	823.60M	823.60M	315.90M	-2.92B	-2.01B	2.30B
Cash Flow
Free Cash Flow	0.00	-1.38B	-838.90M	56.00M	-266.30M	-612.70M
Operating Cash Flow	0.00	-1.32B	-832.90M	56.00M	-266.30M	-612.70M
Investing Cash Flow	0.00	-64.20M	295.50M	85.10M	772.60M	47.70M
Financing Cash Flow	0.00	1.32B	587.30M	-138.50M	-500.00M	474.10M

TIL Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 271.20
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TIL, the sentiment is Negative. The current price of 271.2 is above the 20-day moving average (MA) of 240.53, above the 50-day MA of 250.02, and below the 200-day MA of 303.32, indicating a bearish trend. The MACD of -7.61 indicates Positive momentum. The RSI at 35.80 is Neutral, neither overbought nor oversold. The STOCH value of 7.24 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:TIL.

TIL Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SHANKARA	76 Outperform	₹2.43B	4.26	―	0.68%	-3.36%	-6.25%
UDS	63 Neutral	₹10.33B	11.86	―	―	8.98%	13.54%
CAPACITE	60 Neutral	₹20.50B	10.83	―	―	15.23%	8.61%
MAHLOG	60 Neutral	₹40.30B	-129.80	―	0.69%	11.82%	28.42%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
TIL	39 Underperform	₹15.05B	-125.94	―	―	80.70%	-100.87%

TIL Ltd. Corporate Events

TIL Limited Converts Warrants, Raises Paid-Up Equity Capital to Rs. 70.35 Crore

TIL Limited’s board has approved the conversion of 3,750,000 convertible warrants into an equal number of equity shares of Rs. 10 each on a preferential basis to TIL Global Private Limited, following receipt of the full remaining consideration. As a result, the company’s paid-up equity share capital will rise from Rs. 66.60 crore to Rs. 70.35 crore, modestly strengthening its equity base and potentially enhancing financial flexibility, with the new shares to be submitted for listing on the stock exchanges.

TIL Limited Convenes EGM to Ratify Key Board Appointments

TIL Limited has called an Extraordinary General Meeting (EGM) of its shareholders to be held on January 28, 2026, via video conferencing, with the notice distributed electronically to shareholders whose email addresses are registered with the company, its registrar and transfer agent, or depository participants, and made available on the company’s website. The key items of business at the EGM are the formal appointment of Anurag Srivastava as a non-executive director, with his term subject to retirement by rotation, and the appointment of Vijay Singh Chauhan as a non-executive independent director for a five-year term, moves that signal a refresh and strengthening of the company’s board governance structure in line with Companies Act and SEBI listing regulations, with implications for oversight and strategic direction that are likely to be closely watched by shareholders and other stakeholders.