506854

Tanfac Inds. share price & financials

Price
₹2,272
Market cap
₹7.4k Cr
Sector
Chemicals
Calls analysed
2
Latest concall · Q1 FY27 · call held 27 Jul 2026

Tanfac Inds. Q1 FY27

Revenue from Operations ₹187 cr +6%Operating EBITDA ₹28.6 cr −1%EBITDA Margin 15.3% Profit After Tax ₹16.8 cr −13%

What went well

  • Revenue of INR187 crores, up 6.3% YoY, driven by solar grade DHF business.
  • Successful completion of INR250 crores QIP and approval for INR100 crores preferential issue, making the company net debt-free.
  • HFC-32 project (20,000 MTPA) on schedule for commissioning by end of Q3 FY27, with 65% capacity covered by long-term contracts.

What to watch

  • Operating EBITDA declined 1.4% YoY to INR28.6 crores, with EBITDA margin at 15.3% in Q1 FY27.
  • Profitability impacted by higher fuel and power costs, elevated sulphur prices, and higher tax outflows.
Read the full call →

What Tanfac Inds. does

Tanfac Industries manufactures inorganic fluorine chemicals — anhydrous and solar-grade dilute hydrofluoric acid, sulphuric acid/oleum, and specialty fluoride derivatives such as potassium fluoride, potassium bifluoride, sodium silico fluoride, boron trifluoride complex and aluminium fluoride — at a single integrated, backward-linked site in Tamil Nadu. It earns by selling these chemicals to industries such as refrigerant gas, agrochemicals, pharma intermediates, solar cells, glass etching and specialty gases, both domestically and to export customers, and is expanding downstream into fluoropolymer and refrigerant-gas (HFC-32) derivatives. The company is a joint-sector entity promoted with Tamil Nadu Industrial Development Corporation (TIDCO) and has a technical/business collaboration with Anupam Rasayan India.

Segments

  • Hydrofluoric Acid (HF) and Derivatives
  • SAP and HF-Based Chemicals
Total installed manufacturing capacity
~135,000 MTPA
Sulphuric acid capacity
1,00,000 MTPA
Hydrofluoric acid capacity
29,700 MTPA (doubled from 14,850 MTPA in Oct-2024)
Solar Grade DHF capacity
20,000 MTPA (first and only producer in India)
Specialty fluorides capacity
5,000 MTPA
New downstream fluorinated (refrigerant gas, HFC-32) plant under construction
20,000 TPA, targeted Q3 FY27
Founded 1972Headquarters Cuddalore, Tamil Nadu, IndiaEmployees 700 (2026-03-31) Company website

Guidance record · Q1 FY27

what the last two calls moved 18 tracked 0 delivered 0 missed 18 open
  • Revenue Target revised down said Q4 FY26 Promised: INR 1,600-2,000 crores by FY28 Q1 FY27: For FY28, we are targeting to achieve over 60% growth on account of ramp-up of the new project. This implies a target of ~INR 1,479+ crores, which is below the original guidance range of INR 1,600-2,000 crores.
  • Revenue Target on track said Q4 FY26 Promised: INR 3,000-3,500 crores in next five years Q1 FY27: Management significantly increased future capex plans to INR 1,500-1,700 crores over the next 4 years, supporting the long-term revenue ambition.

All 18 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 6.3%, net profit down 10.5% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue112 178 172 176 169 +51%173 −3%193 +12%187 +6%
EBITDA27 50 36 29 27 +0%26 −48%30 −17%29 +0%
Net profit19 35 23 19 17 −11%16 −54%18 −22%17 −11%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −26.3% 1Y

₹2.0k₹3.0k₹4.0k₹5.0kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q4 FY26 — 15 May 2026Q1 FY27 — 27 Jul 2026

1Y: ₹4,583.05 on 10 Sept 2025 → ₹3,379.55. High ₹4,872.8 (23 Sept 2025), low ₹1,657.5 (17 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−3.6%
27 Jul
Q4 FY26
−3.8%
16 May

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 23.8% a year over 3 years, FY23 to FY26. Operating margin narrowed to 15.8%.

Year endingFY23FY24FY25FY26
Revenue₹375 Cr₹378 Cr₹557 Cr₹711 Cr
Operating profit₹75 Cr₹71 Cr₹129 Cr₹112 Cr
Operating margin20.0%18.8%23.2%15.8%
Interest₹0 Cr₹0 Cr₹2 Cr₹4 Cr
Depreciation₹7 Cr₹8 Cr₹11 Cr₹18 Cr
Net profit₹56 Cr₹52 Cr₹88 Cr₹70 Cr
Net margin14.9%13.8%15.8%9.8%
Cash from operations₹43 Cr₹34 Cr₹33 Cr₹43 Cr
Free cash flow₹28 Cr₹-2 Cr₹-64 Cr₹-39 Cr
ROCE48.0%33.0%42.0%24.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹10 Cr₹10 Cr₹10 Cr₹10 Cr₹10 Cr₹10 Cr
Reserves₹73 Cr₹124 Cr₹174 Cr₹220 Cr₹330 Cr₹363 Cr
Borrowings₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹31 Cr₹93 Cr
Other liabilities₹37 Cr₹49 Cr₹68 Cr₹71 Cr₹91 Cr₹62 Cr
Total liabilities₹120 Cr₹182 Cr₹252 Cr₹301 Cr₹462 Cr₹528 Cr
Fixed assets₹40 Cr₹40 Cr₹55 Cr₹61 Cr₹197 Cr₹212 Cr
Capital work in progress₹3 Cr₹12 Cr₹6 Cr₹29 Cr₹22 Cr₹29 Cr
Investments₹23 Cr₹42 Cr₹67 Cr₹67 Cr₹9 Cr₹19 Cr
Other assets₹55 Cr₹88 Cr₹124 Cr₹145 Cr₹234 Cr₹269 Cr
Total assets₹120 Cr₹182 Cr₹252 Cr₹301 Cr₹462 Cr₹528 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs added +3.77 pp while promoters trimmed −3.09 pp. The shareholder count shrank 12% to 16,393.

Promoters
48.7%
FIIs
1.5%
DIIs
4.2%
Public
45.6%

Since Jun 2025

  • DIIs +3.77 pp
  • Promoters −3.09 pp
  • Public −2.14 pp

How it drifted, 12 quarters

Over this window DIIs went from 0.1% to 4.2% — +4.1 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 51.8%, DIIs 0.1%, Public 48.1%.Dec '23: Promoters 51.8%, DIIs 0.1%, Public 48.1%.Mar '24: Promoters 51.8%, DIIs 0.1%, Public 48.1%.Jun '24: Promoters 51.8%, DIIs 0.2%, Public 48.0%.Sep '24: Promoters 51.8%, DIIs 0.4%, Public 47.8%.Dec '24: Promoters 51.8%, DIIs 0.4%, Public 47.8%.Mar '25: Promoters 51.8%, FIIs 0.1%, DIIs 0.4%, Public 47.6%.Jun '25: Promoters 51.8%, FIIs 0.1%, DIIs 0.4%, Public 47.7%.Sep '25: Promoters 51.8%, FIIs 0.1%, DIIs 0.4%, Public 47.6%.Dec '25: Promoters 51.8%, FIIs 0.1%, DIIs 0.4%, Public 47.7%.Mar '26: Promoters 51.8%, FIIs 0.0%, DIIs 0.3%, Public 47.8%.Jun '26: Promoters 48.7%, FIIs 1.5%, DIIs 4.2%, Public 45.6%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 8 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Tanfac Inds. above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Tamilnadu Industrial Development Corporation Ltd 24.47%−1.55 pp
Anupam Rasayan India Limited 24.26%−1.54 pp
Kamaljyot Investments Limited 9.64%−0.60 pp
Anshul Specialty Molecules 4.71%−0.30 pp
Investor Education And Protection Fund Authority Ministry Of Corporate 3.07%−0.20 pp
Madhulika Agarwal 1.70%−0.10 pp
Ashish Kacholia 1.61%−0.10 pp
Vanaja Sundar Iyer 1.24%−0.08 pp
Malabar India Fund Limited FPI fund1.07%newly disclosed

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Growth trap

To justify its price of ₹3380, this stock must grow earnings at 45% every year for 7 years. Our analysis caps realistic growth at ~11%. At that growth it is worth ₹635 — downside of 81%.

Growth the price implies
45.0% a year
for 7 years, fading to 4%
It has actually compounded at
11.1% a year
net profit, FY23–FY26
The gap
0.3 pp
-81% downside if it only repeats history
Price today ₹3,379.55 Value at the reference growth ₹635.01

Change the assumptions yourself →

All earnings calls (2)

Read the Q1 FY27 call →

Learn to analyse Tanfac Inds.

Guides on how to read this kind of business and the numbers that matter.