Times Guaranty Limited (TIMESGTY) AI Stock Analysis

• Market Cap: ₹2.27B
• Dividend Yield: N/A
• Average Volume (3M): 299.00
• Price to Earnings (P/E): 89.9
• Beta (1Y): -0.35
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: IN
• Employees: 2
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 0.74
• Shares Outstanding: 8,993,149
• 10 Day Avg. Volume: 11
• 30 Day Avg. Volume: 299
• PEG Ratio: 2.07
• Price to Book (P/B): 3.18
• Price to Sales (P/S): 43.00
• P/FCF Ratio: -187.12
• 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: 59 Neutral
• Price Target: ₹264.00 ▼(-9.60% Downside)

The score is held back primarily by recent negative operating/free cash flow versus strong reported earnings and by a very high P/E valuation. These are partially offset by a low-risk, zero-debt balance sheet and a constructive technical uptrend with moderate positive momentum.

Positive Factors

Conservative, zero-debt balance sheet

A zero-debt, equity-heavy balance sheet materially lowers financial risk and preserves flexibility. Over 2-6 months this supports resilience to revenue swings, enables opportunistic spending or acquisitions without refinancing stress, and reduces default risk.

High reported profitability and margins

Sustained high gross and operating margins imply durable pricing power or a low-cost business model within asset management. Over the medium term this supports cash generation potential, buffer against market shocks, and capacity to reinvest in the business when cash conversion normalizes.

Sharp revenue rebound in 2025

A material revenue recovery indicates the company can regain growth momentum after setbacks. If driven by structural client wins or product traction, such a rebound improves operational leverage and the sustainability of higher margins across the next several quarters.

Negative Factors

Negative operating and free cash flow

Repeated negative OCF and FCF despite reported profits is a durable red flag for earnings quality and liquidity. Over months this constrains capital allocation, heightens reliance on external funding or equity, and raises risk that reported earnings cannot sustain dividends or growth investments.

Volatile results and earnings quality concerns

Large swings in revenue and margins and anomalous accounting outcomes reduce predictability of future earnings. Structural volatility complicates forecasting, weakens investor confidence, and limits management's ability to plan long-term investments or consistent client servicing.

Modest returns on equity

Low and only modestly improving ROE signals the company is not converting equity capital into strong shareholder returns. Over the medium term this limits retained-earnings growth, reduces compounding potential, and may constrain investor appetite absent improving profitability or capital efficiency.

Times Guaranty Limited Business Overview & Revenue Model

Company Description

Times Guaranty Limited, a non-deposit accepting non-banking financial company, provides investment and financial services in India. It also provides retail and corporate lending, merchant banking, money market related, and portfolio management services. The company was formerly known as Times Guaranty Finance Limited and changed its name to Times Guaranty Limited in December 1999. The company was incorporated in 1989 and is based in Mumbai, India. Times Guaranty Limited is a subsidiary of Bennett, Coleman & Company Limited.

How the Company Makes Money

Times Guaranty Limited Financial Statement Overview

Summary

Strong reported profitability and a conservative, zero-debt balance sheet support the score, but it is materially reduced by weak cash conversion: operating/free cash flow were negative in the last two years despite positive net income, and results have been volatile.

Income Statement

Profitability is strong on paper, with very high gross and operating profitability across most years and a solid latest-year net margin (~66%). Revenue rebounded sharply in 2025 (annual revenue up ~157%), following a smaller 2024 increase. Offsetting this, results are volatile over time (large swings in revenue and margins, including periods where net profit exceeds revenue), which reduces confidence in earnings quality and repeatability.

Balance Sheet

The balance sheet looks conservative: latest-year total debt is zero and equity represents nearly all assets, implying low financial risk and high flexibility. Equity has also grown steadily over the period. The main drawback is that returns on equity are modest in recent years (~4.9% in 2025 after ~3.9% in 2024), well below the peak seen earlier, suggesting softer efficiency in generating profits from the capital base.

Cash Flow

Cash generation is the weakest area. Operating cash flow and free cash flow are negative in the last two annual periods (about -8.1M in 2025 and -7.9M in 2024), despite positive net income, signaling a gap between reported profitability and cash conversion. While 2022–2023 showed strong positive operating cash flow, the sharp reversal and year-to-year volatility increase risk around liquidity and the sustainability of earnings.

Breakdown	TTM	Dec 2025	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	34.59M	35.29M	12.24M	4.95M	12.19M	63.80M
Gross Profit	34.00M	35.29M	10.57M	3.38M	10.65M	62.13M
EBITDA	19.54M	0.00	23.63M	10.79M	20.14M	81.16M
Net Income	23.47M	23.47M	17.92M	9.37M	15.65M	65.53M
Balance Sheet
Total Assets	479.35M	479.35M	455.01M	437.14M	427.81M	413.77M
Cash, Cash Equivalents and Short-Term Investments	171.82M	171.82M	59.97M	201.22M	23.98M	117.65M
Total Debt	0.00	0.00	0.00	12.00M	110.56M	102.82M
Total Liabilities	1.67M	1.67M	701.00K	610.00K	739.00K	2.65M
Stockholders Equity	477.68M	477.68M	454.31M	436.53M	427.08M	411.12M
Cash Flow
Free Cash Flow	0.00	-8.11M	-7.91M	86.41M	37.95M	-54.52M
Operating Cash Flow	0.00	-8.11M	-7.91M	86.41M	37.95M	-54.52M
Investing Cash Flow	0.00	20.48M	16.14M	-88.60M	-41.92M	58.53M
Financing Cash Flow	0.00	0.00	0.00	0.00	0.00	0.00

Times Guaranty Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
STEELCITY	68 Neutral	₹1.27B	9.19	―	4.37%	-8.60%	-9.89%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
GANGESSECU	62 Neutral	₹1.17B	93.36	―	―	-3.92%	-77.96%
TIMESGTY	59 Neutral	₹2.27B	89.91	―	―	―	―
DELPHIFX	55 Neutral	₹3.68B	82.66	―	―	-34.90%	-69.02%
INVENTURE	46 Neutral	₹1.16B	29.89	―	―	-53.21%	-78.00%