T T Limited (TTL) AI Stock Analysis

• Market Cap: ₹2.36B
• Dividend Yield: 0.59%
• Average Volume (3M): 17.69K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.08
• Revenue Growth: 7.02%
• EPS Growth: -121.37%
• Country: IN
• Employees: 342
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Apparel - Manufacturers
• EPS (TTM): -0.04
• Shares Outstanding: 258,310,940
• 10 Day Avg. Volume: 19,063
• 30 Day Avg. Volume: 17,693
• PEG Ratio: -5.15
• Price to Book (P/B): 3.19
• Price to Sales (P/S): 1.34
• P/FCF Ratio: -19.00
• 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: 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: 45 Neutral
• Price Target: ₹8.50 ▲(4.04% Upside)
• Action: Reiterated Date: 02/03/26
• Date: Action: Reiterated 02/03/26

The score is primarily held back by weak financial performance driven by low profitability and significantly negative free cash flow, alongside meaningful leverage. Technicals provide some near-term support (price above 20/50DMA), but longer-term trend signals remain weak. Valuation is constrained by a negative P/E, partially offset by a higher dividend yield.

Positive Factors

Gross Margin

A 27.4% gross margin indicates the company retains meaningful value after direct manufacturing costs, giving structural headroom to absorb input cost swings and support downstream investments. Over months, this margin helps sustain operations while management works on SG&A and pricing.

Equity Financing Proportion

An equity ratio around 44% means a substantial portion of assets is financed by equity rather than debt, providing balance-sheet resilience. This capital structure reduces insolvency risk and supports access to financing on reasonable terms during 2–6 month strategic adjustments or working-capital cycles.

Operating Profitability (EBIT)

A 21.1% EBIT margin shows the core manufacturing operations can generate solid operating profits before financing and extraordinary items. This indicates structural operational efficiency that can be leveraged to improve net results if non-operating costs and cash conversion are addressed over coming quarters.

Negative Factors

Free Cash Flow Deficit

Material negative free cash flow of -151.6m undermines the company's ability to fund capex, working capital, and debt service from operations. Persisting FCF deficits force reliance on external financing or asset sales, reducing strategic flexibility and increasing refinancing risk over the medium term.

Low Net Margin

A 1.9% net margin shows the company converts little of sales into bottom-line profit, limiting reinvestment and buffers against revenue shocks. Structurally, this constrains capacity to deleverage or build cash reserves, and small cost or sales fluctuations can materially erode profitability over quarters.

High Leverage

A near-1.0 debt-to-equity ratio signals meaningful leverage that raises interest and covenant exposure. Combined with weak cash conversion and low net margins, this leverage heightens refinancing and liquidity risk, limiting capital allocation flexibility and increasing vulnerability to adverse industry or demand shifts.

T T Limited Business Overview & Revenue Model

Company Description

T.T. Limited manufactures and sells textiles in India. The company's products portfolio includes raw cotton; cotton yarn for knitting and weaving; various knitted fabrics; knitted innerwear; garments for men, ladies, and kids; and cotton and polyster sewing threads. It also provides agro commodities, such as poultry and cattle feed, including soybean meal, de oiled rice bran, cotton seed meal, groundnut meal, castor meal, safflower meal, rapeseed meal, and barley; oil seeds consists of groundnut kernels, hulled sesame seeds, natural white and black sesame seeds, and niger seeds; spices comprising cumin, fennel, ajwain, dill, fenugreek, and coriander seeds, as well as turmeric fingers; grains, including yellow corn/maize, millets, and sorghum; and castor oil and derivatives, such as castor oil and castor seed extraction meal. The company is involved in exporting activities. T.T. Limited was incorporated in 1978 and is headquartered in New Delhi, India.

How the Company Makes Money

TTL generates revenue through several key streams. The primary source of income comes from the sale of its software solutions, which are offered as subscription-based services or one-time licenses. Additionally, the company profits from the sale of manufacturing equipment, catering to businesses looking to upgrade their production capabilities. Retail operations contribute further to revenue through direct sales of consumer goods both online and in physical stores. Significant partnerships with other technology providers and distribution channels enhance TTL's market reach, allowing it to capitalize on cross-promotional opportunities and bundled offerings, thereby boosting overall earnings.

T T Limited Financial Statement Overview

Summary

Financial statements point to weak quality of earnings and cash generation: low net margin (1.9%), leverage near 1.0 debt-to-equity, and materially negative free cash flow (-151.6m). While gross margin is moderate (27.4%) and revenue grew 1.6% YoY, profitability stability and liquidity are key concerns.

Income Statement

The income statement reveals significant volatility in revenue and profitability. The gross profit margin stands at 27.4% for the latest year, a moderate figure for the industry. However, the net profit margin is low at 1.9%, indicating challenges in converting sales into profit. The revenue has shown a slight growth of 1.6% compared to the previous year, but dramatic declines in prior years highlight instability. EBIT and EBITDA margins are 21.1% and 1.3%, respectively, pointing to operational challenges. Overall, while there are some positive signs of growth, the company's profitability and operational efficiency need improvement.

Balance Sheet

The balance sheet indicates a high level of leverage with a debt-to-equity ratio of 0.99, a potential risk if revenues decline. The return on equity is relatively low at 4.5%, reflecting limited effectiveness in using equity to generate profits. However, the equity ratio is a positive aspect at 44.0%, suggesting a reasonable proportion of assets financed by equity. The balance sheet shows a moderate level of stability, but the high debt levels could pose risks if not managed carefully.

Cash Flow

The cash flow statement highlights concerns with cash generation. Free cash flow has declined significantly to -151.6 million, indicating challenges in generating cash after capital expenditures. The operating cash flow to net income ratio is low, suggesting difficulties in converting accounting profits into cash. Similarly, the free cash flow to net income ratio is negative, further emphasizing cash generation issues. Overall, the cash flow position is weak and requires strategic initiatives to improve liquidity and sustainability.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	2.22B	2.14B	2.11B	2.03B	3.96B	3.94B
Gross Profit	626.82M	587.14M	716.33M	668.83M	1.04B	1.10B
EBITDA	99.68M	26.84M	196.28M	113.69M	396.35M	143.15M
Net Income	-21.84M	40.99M	46.32M	-126.72M	145.30M	-75.96M
Balance Sheet
Total Assets	0.00	2.05B	2.34B	2.35B	2.72B	3.58B
Cash, Cash Equivalents and Short-Term Investments	3.81M	3.81M	2.09M	2.80M	4.26M	13.04M
Total Debt	0.00	892.59M	1.29B	1.49B	1.71B	2.54B
Total Liabilities	-901.66M	1.15B	1.63B	1.68B	1.92B	2.90B
Stockholders Equity	901.66M	901.66M	717.80M	671.46M	797.45M	681.38M
Cash Flow
Free Cash Flow	0.00	-151.59M	215.69M	219.04M	395.76M	397.28M
Operating Cash Flow	0.00	3.12M	250.62M	235.83M	408.64M	401.39M
Investing Cash Flow	0.00	345.44M	113.04M	144.10M	647.60M	113.98M
Financing Cash Flow	0.00	-347.68M	-365.17M	-391.32M	-1.07B	-507.11M

T T Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 8.17
• 50DMA: Positive
• 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:TTL, the sentiment is Negative. The current price of 8.17 is below the 20-day moving average (MA) of 9.55, below the 50-day MA of 8.63, and below the 200-day MA of 10.88, indicating a neutral trend. The MACD of 0.23 indicates Positive momentum. The RSI at 44.30 is Neutral, neither overbought nor oversold. The STOCH value of 22.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:TTL.

T T Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MANOMAY	69 Neutral	₹4.05B	19.63	―	―	8.41%	8.81%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
SHIVATEX	59 Neutral	₹2.01B	36.61	―	0.33%	15.16%	780.57%
TRF	52 Neutral	₹2.60B	14.28	―	―	-29.77%	-60.54%
MARALOVER	47 Neutral	₹1.88B	8.66	―	―	-0.90%	-304.07%
ANIKINDS	46 Neutral	₹1.26B	50.01	―	―	86.09%	―
TTL	45 Neutral	₹2.36B	-51.56	―	0.59%	7.02%	-121.37%

T T Limited Corporate Events

T T Limited Promoter Group Member Increases Stake with Share Acquisition

T T Limited has disclosed that promoter group member Muskaan Jain has acquired 52,109 equity shares of the company through market purchases conducted between 29 and 31 December 2025. The transaction, reported under SEBI’s substantial acquisition and takeover regulations, signals incremental promoter confidence and a marginal strengthening of the promoter group’s stake, a development that may be watched by investors for its implications on governance, control, and market perception of the company’s prospects.

T T Limited Promoter Group Member Increases Stake With Open-Market Share Purchase

T T Limited has disclosed that promoter group member Ms. Muskaan Jain purchased 52,109 equity shares of the company on the open market between 29 and 31 December 2025, in compliance with Regulation 7(2) of SEBI’s Prohibition of Insider Trading Regulations, 2015. The transaction signals continued confidence from the promoter group in the company’s prospects and has been formally notified to the stock exchanges as part of mandatory governance and transparency requirements for insider trading-related disclosures.

T T Limited’s Promoter Group Increases Stake with New Share Acquisition

T T Limited has announced that Sanjay Kumar Jain, a member of the Promoter Group and Managing Director, has acquired 11,734 equity shares of the company. This acquisition, which took place between December 1st and December 5th, 2025, reflects a minor increase in his stake, enhancing his influence within the company. The acquisition was disclosed under the SEBI regulations for substantial acquisition of shares and takeovers, indicating compliance with regulatory requirements.

T T Limited’s Managing Director Increases Stake

T T Limited has announced that its Managing Director, Mr. Sanjay Kumar Jain, who is part of the Promoter Group, has acquired 11,734 equity shares of the company from December 1 to December 5, 2025. This transaction was disclosed under regulation 7(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, and reflects a potential increase in confidence from the management in the company’s future prospects.