Tirupati Forge Ltd. (TIRUPATIFL) AI Stock Analysis

• Market Cap: ₹4.37B
• Dividend Yield: N/A
• Average Volume (3M): 150.54K
• Price to Earnings (P/E): 61.9
• Beta (1Y): 1.33
• Revenue Growth: 0.03%
• EPS Growth: -24.13%
• Country: IN
• Employees: 92
• Sector: Basic Materials
• Sector Strength: 60
• Industry: Manufacturing - Metal Fabrication
• EPS (TTM): 0.12
• Shares Outstanding: 118,280,000
• 10 Day Avg. Volume: 130,787
• 30 Day Avg. Volume: 150,544
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: ₹41.00
• Price Target Upside: 12.61% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 55 Neutral
• Price Target: ₹41.00 ▲(12.61% Upside)

The overall stock score of 55 reflects a mixed outlook. Strong financial performance, marked by revenue growth and improved profitability, is offset by weak cash flow management and a high debt level. Technical analysis indicates bearish momentum, and the high P/E ratio suggests overvaluation. The absence of a dividend yield further limits appeal.

Tirupati Forge Ltd. Business Overview & Revenue Model

Company Description

Tirupati Forge Ltd. (TIRUPATIFL) is an Indian company specializing in the manufacturing and export of forged flanges, auto components, and other forged products. Operating primarily in the industrial and automotive sectors, the company offers a wide range of high-quality forged metal components that are essential for various industrial applications. Tirupati Forge prides itself on its state-of-the-art manufacturing facilities and its commitment to delivering reliable and durable products to its global clientele.

How the Company Makes Money

Tirupati Forge Ltd. makes money through the production and sale of forged components such as flanges and auto parts. Its revenue model is primarily based on large-scale manufacturing contracts and export sales to international markets. The company benefits from its established relationships with industrial and automotive manufacturers, supplying them with essential components. Additionally, Tirupati Forge may engage in strategic partnerships to expand its market reach and enhance its product offerings, thereby contributing to its revenue streams.

Tirupati Forge Ltd. Financial Statement Overview

Summary

Tirupati Forge Ltd. has shown strong revenue growth and improved profitability metrics, with a declining debt-to-equity ratio suggesting financial stability. However, cash flow management remains a challenge, with negative free cash flow highlighting the need for better cash allocation strategies.

Income Statement

The company shows solid revenue growth, increasing from 267.7M in 2021 to 1.15B in 2025. The gross profit margin improved substantially from 13.8% in 2021 to 42.4% in 2025, indicating efficient cost management. Net profit margin also rose from 1.5% to 6.8% during the same period. However, there is room for improvement in EBIT and EBITDA margins, although they have increased, signaling enhanced operational efficiency.

Balance Sheet

The debt-to-equity ratio decreased from 0.37 in 2021 to 0.24 in 2025, reflecting reduced financial leverage and a stronger equity position. The equity ratio improved from 62% to 73%, indicating a solid capital structure. However, the company's total debt remains significant, which poses a potential risk.

Cash Flow

Operating cash flow decreased significantly from 33.4M in 2020 to 58.5M in 2025, indicating volatility in cash generation. Free cash flow remains negative, which is concerning for ongoing financial health. However, the operating cash flow to net income ratio shows the company's ability to convert income into cash. The company needs to improve its free cash flow management.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	1.21B	1.15B	985.91M	910.80M	789.92M	267.73M
Gross Profit	444.71M	487.48M	145.79M	181.07M	203.12M	36.94M
EBITDA	165.91M	165.33M	133.89M	164.07M	116.57M	27.39M
Net Income	84.82M	78.55M	66.42M	94.29M	62.23M	3.94M
Balance Sheet
Total Assets	0.00	1.46B	743.01M	512.85M	524.61M	336.94M
Cash, Cash Equivalents and Short-Term Investments	43.25M	332.01M	44.90M	927.00K	8.63M	1.14M
Total Debt	0.00	261.95M	131.37M	101.05M	110.47M	76.05M
Total Liabilities	-551.61M	388.68M	243.85M	150.46M	256.51M	129.32M
Stockholders Equity	551.61M	1.07B	499.16M	362.38M	268.10M	207.62M
Cash Flow
Free Cash Flow	0.00	-326.31M	-48.99M	-3.58M	-19.71M	-59.73M
Operating Cash Flow	0.00	58.55M	103.06M	35.23M	12.06M	-30.20M
Investing Cash Flow	0.00	-379.99M	-147.02M	-33.42M	-28.95M	-27.88M
Financing Cash Flow	0.00	607.82M	87.93M	-9.42M	24.30M	51.27M

Tirupati Forge Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 36.41
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TIRUPATIFL, the sentiment is Negative. The current price of 36.41 is below the 20-day moving average (MA) of 40.34, below the 50-day MA of 41.53, and below the 200-day MA of 43.67, indicating a bearish trend. The MACD of -1.41 indicates Positive momentum. The RSI at 34.55 is Neutral, neither overbought nor oversold. The STOCH value of 24.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:TIRUPATIFL.

Tirupati Forge Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
OCCL	68 Neutral	₹1.88B	17.96		7.44%	-76.65%	-76.77%
HPAL	61 Neutral	₹4.22B	25.12		0.65%	8.99%	-22.45%
MODIRUBBER	60 Neutral	₹3.03B	14.79		―	34.63%	-0.79%
TIRUPATIFL	55 Neutral	₹4.37B	61.88		―	0.03%	-24.13%
Sector *	44 Neutral	AU$1.54B	-7.28	-26.52%	4.40%	-3.13%	-36.41%

Tirupati Forge Ltd. Corporate Events

Tirupati Forge Limited Announces Key Board Decisions and AGM Plans

Tirupati Forge Limited’s Board of Directors convened on July 4, 2025, to address several key business matters. The board approved the company’s financial report for the year ending March 31, 2025, and proposed the reappointment of Shri. Bhaveshbhai Tulsibhai Barasiya as a director. They also recommended the appointment of Shri. Mallappa Beleri as an independent director and approved an increase in remuneration for Managing Director Shri. Hiteshkumar Gordhanbhai Thummar. Additionally, the board appointed CS Piyush Jethva as the company secretary for a secretarial audit and reappointed M/s. Mitesh Suvagiya & Co. as cost auditors. The board also decided to conduct the 13th Annual General Meeting on August 5, 2025, via video conference.