TIIL

Technocraft Industries (India) share price & financials

Price
₹2,538.3
Market cap
₹7.1k Cr
Sector
Capital Goods
Calls analysed
6
Latest concall · Q1 FY27 · call held 17 Aug 2026

Technocraft Industries (India) Limited Q1 FY27

Steel Scaffolding Revenue ₹240 cr Aluminum (Mach One) Revenue ₹165 cr Drum Closure EBIT Margin 43% Yarn Business EBITDA 13%

What went well

  • Drum Closure segment EBIT margin reached an all-time high of 43% in Q1 FY27, significantly above the sustainable target of 30%.
  • Steel Scaffolding revenue for Q1 FY27 was ₹240 crores, and Aluminum (Mach One) revenue was ₹165 crores, indicating strong performance in these segments.
  • The Engineering services division is experiencing robust growth, driven by strong US demand and technological upgrades, with a sustainable margin target of 15%.

What to watch

  • Middle East Scaffolding sales declined in Q1 FY27 due to ongoing war and shipping difficulties, with the region contributing less than 5% of total sales.
  • The Garment business within the Textile division remains loss-making, and management is actively working on restructuring it to achieve break-even within the next two quarters.
Read the full call →

What Technocraft Industries (India) Limited does

Technocraft Industries is a diversified Indian industrial manufacturer and exporter organised into four businesses: steel and plastic drum closures, scaffolding systems and aluminium formwork, an integrated cotton textile operation (yarn, fabric and garments), and an engineering design services arm (Technosoft). It is the world's largest manufacturer of steel drum closures, produced at facilities in India and China and exported to more than 80 countries. Its scaffolding systems and Aluminium Formwork (Mach One) panels are manufactured in India for residential, commercial and infrastructure projects worldwide, while its integrated textile mills in Maharashtra and Madhya Pradesh spin cotton yarn and produce knitted fabric and garments. The group operates through manufacturing subsidiaries and its own marketing/warehousing offices across the Americas, Europe, the Middle East and Asia-Pacific, and its Technosoft arm delivers engineering, design and IT services to clients in aerospace, automotive, heavy machinery, oil & gas and other industries.

Segments

  • Drum Closure Division
  • Scaffoldings Division
  • Textiles Division
  • Engineering & Designing Services
Global market position — steel drum closures
World's largest manufacturer, ~36% global market share
Export reach
80+ countries
Own marketing offices & warehouses
11 countries (USA, Canada, UK, Poland, New Zealand, UAE, Germany, Brazil, China, Denmark, Netherlands)
Drum closure manufacturing facilities
India and China
Engineering services (Technosoft) headcount
800+ engineers and designers worldwide
Cotton spinning capacity
62,000 spindles
Founded 1972Headquarters Mumbai, Maharashtra, India Company website

Guidance record · Q1 FY27

what the last two calls moved 12 tracked 1 delivered 5 missed 6 open
  • Scaffolding Margin diluted said Q3 FY26 Promised: 15% margin in FY27 Q1 FY27: Guidance was walked back from '16%, 17%' to a 'sustainable' 15%, reverting to the original target and diluting the stronger guidance from the previous quarter.
  • Textile EBIT delivered, diluted said Q4 FY25 Promised: Reduction of losses in FY26 Q4 FY26: The original promise of loss reduction was met, but the revised 'breakeven' target was missed. The yarn division turned profitable (EBIT +1.5cr), but the garmenting division remained loss-making.
  • Mach One Revenue missed said Q1 FY26 Promised: INR 900 crores revenue in FY26 Q4 FY26: Final FY26 Formwork (Mach One) revenue was INR 660 crores, a significant miss of 27%.

All 12 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 12.7%, net profit up 45.8% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue521 545 568 503 532 +2%500 −8%495 −13%567 +13%
EBITDA78 77 95 69 70 −10%67 −13%102 +7%109 +58%
Net profit65 50 66 59 56 −14%53 +6%76 +15%86 +46%
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 +29.3% 1Y

₹2.0k₹2.5k₹3.0k₹3.5kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 14 Nov 2025Q3 FY26 — 12 Feb 2026Q4 FY26 — 29 May 2026Q1 FY27 — 17 Aug 2026

1Y: ₹2,514.2 on 10 Sept 2025 → ₹3,250.2. High ₹3,454.9 (25 Aug 2026), low ₹1,907 (20 Jan 2026).

How the price took the results

close before → close after

Q1 FY27
+0.3%
17 Aug
Q4 FY26
−6.4%
29 May
Q3 FY26
+9.6%
12 Feb
Q2 FY26
−1.1%
14 Nov

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 1.5% a year over 3 years, FY23 to FY26. Operating margin narrowed to 15.2%.

Year endingFY23FY24FY25FY26
Revenue₹1.9k Cr₹1.6k Cr₹2.1k Cr₹2.0k Cr
Operating profit₹389 Cr₹243 Cr₹333 Cr₹308 Cr
Operating margin20.0%14.8%15.9%15.2%
Interest₹26 Cr₹30 Cr₹33 Cr₹30 Cr
Depreciation₹61 Cr₹53 Cr₹55 Cr₹52 Cr
Net profit₹274 Cr₹168 Cr₹244 Cr₹244 Cr
Net margin14.1%10.2%11.7%12.0%
Cash from operations₹75 Cr₹285 Cr₹346 Cr₹162 Cr
Free cash flow₹0 Cr₹267 Cr₹323 Cr₹125 Cr
ROCE17.0%15.0%19.0%18.0%
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₹24 Cr₹24 Cr₹23 Cr₹23 Cr₹23 Cr₹23 Cr
Reserves₹928 Cr₹1.1k Cr₹1.2k Cr₹1.3k Cr₹1.9k Cr₹1.6k Cr
Borrowings₹343 Cr₹368 Cr₹522 Cr₹392 Cr₹823 Cr₹360 Cr
Other liabilities₹185 Cr₹232 Cr₹236 Cr₹275 Cr₹382 Cr₹281 Cr
Total liabilities₹1.5k Cr₹1.8k Cr₹1.9k Cr₹2.0k Cr₹3.1k Cr₹2.3k Cr
Fixed assets₹348 Cr₹335 Cr₹344 Cr₹355 Cr₹863 Cr₹341 Cr
Capital work in progress₹7 Cr₹17 Cr₹38 Cr₹10 Cr₹33 Cr₹5 Cr
Investments₹319 Cr₹390 Cr₹301 Cr₹544 Cr₹462 Cr₹590 Cr
Other assets₹806 Cr₹1.0k Cr₹1.3k Cr₹1.1k Cr₹1.7k Cr₹1.3k Cr
Total assets₹1.5k Cr₹1.8k Cr₹1.9k Cr₹2.0k Cr₹3.1k Cr₹2.3k 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 +0.57 pp while the public trimmed −0.50 pp. The shareholder count shrank 17% to 46,501.

Promoters
74.7%
FIIs
0.4%
DIIs
7.2%
Public
17.7%

Since Jun 2025

  • DIIs +0.57 pp
  • Public −0.50 pp
  • FIIs −0.08 pp

How it drifted, 12 quarters

Over this window DIIs went from 4.2% to 7.2% — +3.0 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 74.6%, FIIs 0.7%, DIIs 4.2%, Public 20.5%.Dec '23: Promoters 74.6%, FIIs 0.7%, DIIs 4.0%, Public 20.7%.Mar '24: Promoters 74.6%, FIIs 0.6%, DIIs 4.0%, Public 20.8%.Jun '24: Promoters 74.6%, FIIs 0.7%, DIIs 6.3%, Public 18.4%.Sep '24: Promoters 74.7%, FIIs 0.6%, DIIs 6.8%, Public 17.8%.Dec '24: Promoters 74.7%, FIIs 0.5%, DIIs 6.9%, Public 17.9%.Mar '25: Promoters 74.7%, FIIs 0.4%, DIIs 7.0%, Public 17.8%.Jun '25: Promoters 74.7%, FIIs 0.5%, DIIs 6.6%, Public 18.2%.Sep '25: Promoters 74.7%, FIIs 0.5%, DIIs 7.0%, Public 17.8%.Dec '25: Promoters 74.7%, FIIs 0.4%, DIIs 7.0%, Public 17.8%.Mar '26: Promoters 74.7%, FIIs 0.4%, DIIs 6.8%, Public 18.0%.Jun '26: Promoters 74.7%, FIIs 0.4%, DIIs 7.2%, Public 17.7%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Technocraft Industries (India) Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Sudarshankumar Saraf 28.06%unchanged
Shakuntala Saraf 21.35%unchanged
Sharadkumar Madhoprasad Saraf Huf 9.11%unchanged
Navneet Kumar Saraf 5.84%unchanged
Abakkus Emerging Opportunities Fund-1 AIF2.28%unchanged
Nidhi Saraf 2.24%unchanged
Ashish Kumar Saraf 2.09%unchanged
Priyanka Ashish Saraf 2.06%unchanged
Inuit U.S. Holdings Inc. 1.70%unchanged
Sharadkumar Saraf 1.68%unchanged
HDFC Mutual Fund - HDFC Childrens Fund Mutual fund1.45%unchanged
3P India Equity Fund 1 AIF1.12%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.

Mutual funds in TIIL

Filings to Jul 2026

0 new, 1 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.1%).

Held by funds
₹85 Cr
2 schemes
Biggest holder
HDFC Children's Fund
₹46 Cr · 0.4% of that fund
SchemeHoldingLast month
HDFC Children's Fund HDFC Mutual Fund₹46 Crheld
HDFC Value Fund HDFC Mutual Fund₹39 Cr+0.00 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Jul 2026

1 added, 0 trimmed — net +330 shares (+0.1%)

Funds are sitting on
+3%
vs est. average cost
Held by funds
₹85 Cr
2 schemes · ≈ 1.2% of the company
Biggest holder
HDFC Children's Fund
₹46 Cr · 0.4% of that fund

Shares held by these funds +105%

Nov '24 3.28 L shares Jul '26

What the price assumes

Growth trap

To justify its price of ₹3250, this stock must grow earnings at 22% every year for 7 years. Our analysis caps realistic growth at ~-0%. At that growth it is worth ₹1002 — downside of 69%.

Growth the price implies
21.8% a year
for 7 years, fading to 4%
It has actually compounded at
-3.8% a year
net profit, FY23–FY26 · EPS -0.3%
The gap
0.2 pp
-69% downside if it only repeats history
Price today ₹3,250.2 Value at the reference growth ₹1,001.58

Change the assumptions yourself →

All earnings calls (6)

Read the Q1 FY27 call →

Learn to analyse Technocraft Industries (India) Limited

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