Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 167 | +41.5% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | 10.0 | +1.0 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | 8.0 | +33.3% YoY | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. |
| Return on equity | −2.4 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. | |
| Free cash flow margin | 9.82 | +29.7 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | +10.1 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. |
Guidance
8 targets tracked, none judged yet · 8 open · verdicts reflect calls analysed to Q4 FY26.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Volume Growth CAGR | Maintain 35% CAGR till FY28 | Q4 FY26 | Management reiterated the 35% CAGR target set last year, indicating it as their ongoing goal. | New |
8 of TBI Corn's 8 targets are still open. See which are on track and which have gone quiet. The 1 above are the free sample; 7 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: ₹90.25 on 24 Oct 2025 → ₹66.5. High ₹94.85 (24 Dec 2025), low ₹56.5 (16 Mar 2026).
Overview
close before → close after
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.
Guidance
8 targets tracked, none judged yet · 8 open · verdicts reflect calls analysed to Q4 FY26.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Volume Growth CAGR | Maintain 35% CAGR till FY28 | Q4 FY26 | Management reiterated the 35% CAGR target set last year, indicating it as their ongoing goal. | New |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 8 tracked commitments, with each call’s wording and source.
Call summaries
TBI Corn Q4 FY26
TBI Corn reported strong operational performance for FY26, marked by a 44% volume growth and positive operating cash flow. The export-oriented unit, TBI Maize Processors, commenced operations and contributed to revenue, though its full integration is pending. While direct procurement and corn germ extraction improved, gross margins faced pressure from depreciation and input costs in the second half.
Read the full callEvery analysed call
Fundamentals
Current values with the period they cover; the trend reads across the 3 fiscal years held (Mar 2024 to Mar 2026).
Financials
Net profit, year on year: +33% (quarter to mar 2026 against mar 2025).
| Line item | Mar 2023 | Sept 2023 | Mar 2024 | Sept 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Sales | 75 | 70 | 88 | 94 | 118 | 137 | 167 |
| Expenses | 69 | 60 | 81 | 81 | 107 | 118 | 151 |
| Operating profit | 6 | 11 | 7 | 13 | 11 | 18 | 16 |
| Operating margin | 8.0% | 15.0% | 8.0% | 14.0% | 9.0% | 13.0% | 10.0% |
| Other income | 1 | 1 | 0 | 1 | 1 | 1 | 0 |
| Interest | 2 | 2 | 3 | 3 | 3 | 3 | 5 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 2 | 1 |
| Profit before tax | 4 | 9 | 5 | 10 | 8 | 14 | 11 |
| Tax rate | 26.0% | 25.0% | 27.0% | 26.0% | 25.0% | 25.0% | 24.0% |
| Net profit | 3 | 7 | 3 | 8 | 6 | 10 | 8 |
| EPS (₹ per share) | 5892.86 | 4.99 | 2.56 | 4.14 | 3.37 | 5.64 | 4.60 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Equity capital | 0 | 13 | 18 | 18 | 18 |
| Reserves | 17 | 29 | 83 | 93 | 102 |
| Borrowings | 40 | 46 | 65 | 87 | 71 |
| Other liabilities | 20 | 13 | 14 | 5 | 49 |
| Total liabilities | 77 | 102 | 180 | 204 | 240 |
| Fixed assets | 7 | 8 | 17 | 18 | 20 |
| Capital work in progress | 0 | 6 | 7 | 7 | 13 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| Other assets | 70 | 88 | 156 | 178 | 207 |
| Total assets | 77 | 102 | 180 | 204 | 240 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Cash from operations | -17 | -3 | -30 | 42 |
| Cash from investing | -8 | -8 | -12 | -12 |
| Cash from financing | 25 | 11 | 42 | -11 |
| Net cash flow | 0 | 0 | 0 | 19 |
| Free cash flow | -24 | -11 | -42 | 30 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Debtor days | 67 | 72 | 79 | 93 |
| Inventory days | — | — | 151 | 127 |
| Days payable | — | — | 26 | 69 |
| Cash conversion cycle | 67 | 72 | 204 | 151 |
| Working capital days | 75 | 86 | 143 | 85 |
| Return on capital employed | — | — | 19.0% | 18.0% |
| Dividend payout | — | 0.0% | 0.0% | 0.0% |
Ownership
Promoters hold 56.47% as of Mar 2026; institutions cut 1.64 pts since Sept 2025.
since Sep 2025
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
The same filing shows 0 holders trimming and 3 off the list — both are in the register beside this.
Named in the Mar 2026 filing
Every holder of TBI Corn above SEBI's 1% disclosure line, and what changed since Sep 2025.
| Holder | Stake | Change |
|---|---|---|
| 54.52% | unchanged | |
| 4.22% | unchanged | |
| 2.60% | newly disclosed | |
| 0.87% | unchanged | |
| 0.36% | unchanged | |
| 0.36% | unchanged | |
| 0.36% | unchanged | |
| VC / PE | — | off the list |
| VC / PE | — | off the list |
| Mutual fund | — | off the list |
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.
Your own record
Free account: one company. Everything above stays public.
Write why you follow TBI Corn and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.
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