Thejo Engineering share price & results
- Jun 2026
- Sept 2026
Chennai-based engineering solutions provider for wear/corrosion protection, conveyor systems and mineral processing equipment for mining and core industries.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 144 | +29.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 16.0 | +2.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 15.0 | +66.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 17.46 | −2.6 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 0.73 | −5.1 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 20.79 | +15.6 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance +5.6% 1Y
1Y: ₹1,795.9 on 24 Oct 2025 → ₹1,897.1. High ₹2,223.9 (7 Aug 2026), low ₹1,457.4 (30 Mar 2026).
- Previous close
- ₹1,901.7
- Market cap
- ₹2.1k Cr
- 52-week range
- ₹1,457.4 – ₹2,223.9
- One year
- +7.80%
- Price to earnings (TTM to Jun 2026)
- 36.19×
- Return on equity (TTM to Jun 2026)
- 17.46%
Overview
- Symbol
- NSE:THEJO
- Sector
- Capital Goods
- Industry
- Industrials
- Exchange
- NSE
- Currency
- INR
What Thejo Engineering Limited does
Based on the company's own presentations, annual report and earnings calls.
Thejo Engineering designs, manufactures and services wear-and-corrosion-protection products, bulk-material-handling (conveyor) systems, mineral-processing equipment (mill liners, filtration) and special-purpose machines for mining, minerals, cement, power and other process industries. It earns revenue through an integrated products-plus-services model, selling engineered rubber, polyurethane and metal wear parts alongside long-term O&M and technical-service contracts (belt audits, splicing, plant maintenance) that keep client plants running. Manufacturing is anchored in Chennai with additional units and workshops overseas, supported by an in-house R&D centre developing proprietary linings, liners and equipment. It serves customers across mining, aggregates, cement, power, chemicals/fertilizers and OEM/EPC sectors in India and international markets reached through its own subsidiaries.
Segments
- Manufacturing Units
- Service Units
- Others
- Manufacturing facilities
- 6 units — 5 in Chennai, India (Units 1, 1A, 3, 4 and 5) plus overseas manufacturing units in Saudi Arabia and Australia
- Global footprint
- Operations spanning 6 countries — India, Saudi Arabia, Australia, UAE, Chile and Brazil
- Employees
- 2,300+ (technical & O&M workforce)
- Customers
- 600+ across mining, minerals and core-industry markets
- Patents
- 25+ patents from in-house R&D-led innovation
- R&D centre
- DSIR-approved in-house R&D and Technical Excellence Centre in Chennai
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +67% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 102 | 112 | 123 | 111 | 126 | 133 | 145 | 144 |
| Expenses | 82 | 90 | 100 | 95 | 103 | 114 | 120 | 122 |
| Operating profit | 20 | 22 | 23 | 15 | 23 | 19 | 24 | 23 |
| Operating margin | 20.0% | 20.0% | 19.0% | 14.0% | 18.0% | 14.0% | 17.0% | 16.0% |
| Other income | 1 | 0 | 0 | 1 | 2 | -2 | 3 | 1 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 4 | 4 | 4 | 3 | 1 | 2 | 2 | 2 |
| Profit before tax | 16 | 18 | 19 | 13 | 23 | 14 | 24 | 20 |
| Tax rate | 26.0% | 26.0% | 26.0% | 26.0% | 26.0% | 25.0% | 25.0% | 26.0% |
| Net profit | 12 | 13 | 14 | 9 | 17 | 11 | 18 | 15 |
| EPS (₹ per share) | 10.91 | 11.98 | 12.81 | 8.69 | 15.89 | 9.94 | 16.33 | 14.02 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 442 | 391 | 437 | 515 |
| Expenses | 383 | 323 | 353 | 432 |
| Operating profit | 59 | 70 | 84 | 81 |
| Other income | 3 | 1 | 1 | 4 |
| Interest | 4 | 4 | 4 | 4 |
| Depreciation | 11 | 15 | 15 | 8 |
| Profit before tax | 46 | 53 | 68 | 74 |
| Net profit | 35 | 38 | 50 | 55 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 11 | 11 | 11 | 11 | 11 | 11 |
| Reserves | 143 | 169 | 206 | 255 | 312 | 306 |
| Borrowings | 23 | 28 | 29 | 20 | 39 | 29 |
| Other liabilities | 61 | 79 | 76 | 79 | 130 | 104 |
| Total liabilities | 237 | 287 | 323 | 364 | 492 | 449 |
| Fixed assets | 48 | 85 | 84 | 79 | 148 | 94 |
| Capital work in progress | 1 | 2 | 2 | 0 | 3 | 12 |
| Investments | 23 | 23 | 30 | 33 | 0 | 35 |
| Other assets | 165 | 177 | 206 | 252 | 340 | 308 |
| Total assets | 237 | 287 | 323 | 364 | 492 | 449 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 28 | 19 | 47 | 40 | 46 | 37 |
| Cash from investing | -7 | -7 | -45 | -24 | -18 | -48 |
| Cash from financing | -16 | -9 | 0 | -5 | -15 | -11 |
| Net cash flow | 4 | 3 | 3 | 12 | 13 | -21 |
| Free cash flow | 22 | 12 | 3 | 22 | 35 | 12 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 123 | 111 | 97 | 95 | 103 | 116 |
| Inventory days | 239 | 218 | 177 | 185 | 172 | 171 |
| Days payable | 194 | 156 | 172 | 136 | 132 | 169 |
| Cash conversion cycle | 168 | 173 | 101 | 145 | 142 | 118 |
| Working capital days | 93 | 97 | 72 | 78 | 91 | 98 |
| Return on capital employed | 24.0% | 26.0% | 21.0% | 24.0% | 27.0% | 26.0% |
| Dividend payout | 10.0% | 7.0% | 8.0% | 8.0% | 11.0% | 10.0% |
Where revenue comes from
The businesses behind the company’s reported revenue.
Service Units contributes 57.9% of reported segment revenue.
Quarter ended 30 Jun 2026 · Consolidated
- Service Units 57.9%
₹122.51 crore
- Manufacturing Units 34.6%
₹73.36 crore
- Others 7.5%
₹15.90 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| Service Units | 122.51 | 57.9% |
| Manufacturing Units | 73.36 | 34.6% |
| Others | 15.90 | 7.5% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
How these numbers add up
- Total segment revenue
- ₹211.77 crore
- Intersegment adjustment
- ₹34.16 crore
- Net segment revenue
- ₹177.61 crore
Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.
Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.
How the mix has moved
Others grew from 6% to 8% of revenue over the last two years.
| Segment | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Service Units | — | 59% | 59% | 61% | 63% | 63% | 62% | 58% | +26.5% |
| Manufacturing Units | 35% | 37% | 37% | 36% | 33% | 32% | 34% | 35% | +30.1% |
| Others | 6% | 4% | 4% | 3% | 5% | 5% | 4% | 8% | +220.9% |
Share of reported segment revenue by quarter, consolidated basis, as filed. A quarter the company did not report is left blank, never carried forward.
See how segments are shifting across companies → Segment Shift
What the price assumes
ExpensiveTo justify its price of ₹1897, this stock must grow earnings at 24% every year for 7 years. Our analysis caps realistic growth at ~17%. At that growth it is worth ₹1304 — downside of 31%.
- Growth the price implies
- 23.9% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 14.7% a year
- net profit, FY23–FY26 · EPS 16.6%
- The gap
- 0.1 pp
- -31% downside if it only repeats history
Ownership
Who owns it
Promoters hold 53.79% as of Sept 2026; institutions added 0.05 pts since Jun 2026.
- Promoters 53.79%
- Foreign institutions 0.84%
- Domestic institutions 3.44%
- Public 41.93%
Who bought this quarter
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- newly disclosed 7.59% held
- +6.35 pp 10.94% held
- newly disclosed 5.01% held
- newly disclosed 0.33% held
- AIF +0.30 pp 1.84% held
- newly disclosed 0.18% held
The same filing shows 1 holder trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Sep 2026 filing
Every holder of Thejo Engineering Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 10.94% | +6.35 pp | |
| 7.59% | newly disclosed | |
| 6.00% | unchanged | |
| 6.00% | unchanged | |
| 6.00% | unchanged | |
| 5.01% | newly disclosed | |
| 4.59% | unchanged | |
| 4.26% | unchanged | |
| 4.25% | unchanged | |
| 4.08% | unchanged | |
| 3.43% | unchanged | |
| 2.45% | unchanged |
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
Start an Inve Case for Thejo Engineering Limited
Free account: one company. Everything above stays public.
Write why you follow Thejo Engineering Limited and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.
Keep reading
Other Capital Goods companies
Learn to analyse Thejo Engineering Limited
Guides on how to read this kind of business and the numbers that matter.