World's largest steel drum closure maker; also makes scaffolding, formwork, textiles & engineering design.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 805 | +27.2% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 22.0 | +4.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 138 | +68.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 17.86 | +1.2 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 5.04 | +2.1 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 12.38 | −12.7 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Guidance
1 of 6 judged targets kept · 6 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Scaffolding Margin | 15% margin in FY27 | Q3 FY26 | 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. | Diluted |
| Textile EBIT | Reduction of losses in FY26 | Q4 FY25 | 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. | Achieved* |
| Mach One Revenue | INR 900 crores revenue in FY26 | Q1 FY26 | Final FY26 Formwork (Mach One) revenue was INR 660 crores, a significant miss of 27%. | Missed |
5 of Technocraft Industries (India) Limited's 12 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 9 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: ₹2,490.8 on 24 Oct 2025 → ₹2,538.6. High ₹3,454.9 (25 Aug 2026), low ₹1,907 (20 Jan 2026).
Overview
Based on the company's own presentations, annual report and earnings calls.
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
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
1 of 6 judged targets kept · 6 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Scaffolding Margin | 15% margin in FY27 | Q3 FY26 | 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. | Diluted |
| Textile EBIT | Reduction of losses in FY26 | Q4 FY25 | 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. | Achieved* |
| Mach One Revenue | INR 900 crores revenue in FY26 | Q1 FY26 | Final FY26 Formwork (Mach One) revenue was INR 660 crores, a significant miss of 27%. | Missed |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 12 tracked commitments, with each call’s wording and source.
Call summaries
Technocraft Industries (India) Limited Q1 FY27
Technocraft Industries reported a strong Q1 FY27, driven by exceptional margins in Drum Closure and robust demand in US Scaffolding. The Engineering services division continued its fast growth trajectory, while the nascent Defence vertical secured initial orders. Challenges persist in the Middle East Scaffolding market and the loss-making Garment business, which is undergoing restructuring.
Read the full callTechnocraft Industries (India) Limited Q4 FY26
Technocraft Industries reported a mixed Q4 FY26, marked by a strong recovery in its U.S. scaffolding business and robust demand in the engineering vertical, albeit with near-term profitability pressures from AI investments. While the Mach One segment faced volume declines due to project delays, its order book remains healthy. The company demonstrated pricing power by passing on raw material costs and tariffs, and is actively restructuring its textiles division. A one-time steel discount benefit of INR20 crores boosted Q4 scaffolding margins, with sustainable margins projected at 16-17%.
Read the full callTechnocraf.Inds. Q3 FY26
Technocraft Industries reported a balanced Q3 FY26, marked by a significant increase in other income and a pickup in Scaffolding demand from November. While Scaffolding margins were compressed due to lower volumes, tariff reductions in Drum Closures and strong growth in Engineering Services offer positive outlooks. The company is actively addressing competition in Aluminium Formwork and working to improve the performance of its Garments business.
Read the full callEvery analysed call
Fundamentals
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
Net profit, year on year: +68% (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 | 629 | 644 | 702 | 633 | 752 | 662 | 712 | 805 |
| Expenses | 532 | 552 | 592 | 521 | 628 | 570 | 572 | 627 |
| Operating profit | 97 | 92 | 110 | 112 | 124 | 93 | 139 | 178 |
| Operating margin | 15.0% | 14.0% | 16.0% | 18.0% | 16.0% | 14.0% | 20.0% | 22.0% |
| Other income | 35 | 6 | 29 | 39 | 21 | 28 | 14 | 40 |
| Interest | 14 | 12 | 18 | 14 | 14 | 15 | 15 | 14 |
| Depreciation | 25 | 29 | 30 | 29 | 30 | 32 | 33 | 29 |
| Profit before tax | 93 | 58 | 92 | 108 | 101 | 74 | 105 | 175 |
| Tax rate | 23.0% | 28.0% | 27.0% | 23.0% | 22.0% | 27.0% | 26.0% | 21.0% |
| Net profit | 71 | 41 | 66 | 82 | 79 | 54 | 78 | 138 |
| EPS (₹ per share) | 30.50 | 17.91 | 29.10 | 35.02 | 33.80 | 23.46 | 33.56 | 58.96 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 1,941 | 2,183 | 2,595 | 2,759 |
| Expenses | 1,553 | 1,783 | 2,180 | 2,291 |
| Operating profit | 389 | 398 | 415 | 468 |
| Other income | 57 | 80 | 100 | 102 |
| Interest | 26 | 39 | 55 | 58 |
| Depreciation | 61 | 68 | 108 | 124 |
| Profit before tax | 357 | 372 | 354 | 388 |
| Net profit | 274 | 279 | 262 | 293 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 24 | 23 | 23 | 23 | 23 | 23 |
| Reserves | 1,312 | 1,393 | 1,652 | 1,750 | 1,861 | 2,000 |
| Borrowings | 506 | 656 | 675 | 846 | 823 | 819 |
| Other liabilities | 268 | 292 | 342 | 378 | 382 | 408 |
| Total liabilities | 2,111 | 2,364 | 2,692 | 2,996 | 3,089 | 3,249 |
| Fixed assets | 420 | 438 | 738 | 855 | 863 | 858 |
| Capital work in progress | 17 | 40 | 14 | 33 | 33 | 14 |
| Investments | 420 | 331 | 410 | 435 | 462 | 468 |
| Other assets | 1,253 | 1,555 | 1,531 | 1,673 | 1,731 | 1,909 |
| Total assets | 2,111 | 2,364 | 2,692 | 2,996 | 3,089 | 3,249 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 258 | 108 | 136 | 308 | 276 | 243 |
| Cash from investing | -30 | -132 | 22 | -338 | -185 | -116 |
| Cash from financing | -215 | 20 | -61 | -21 | -45 | -131 |
| Net cash flow | 13 | -4 | 97 | -52 | 47 | -4 |
| Free cash flow | 245 | 56 | 43 | 6 | 75 | 140 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 97 | 87 | 77 | 76 | 76 | 88 |
| Inventory days | 316 | 249 | 371 | 271 | 228 | 251 |
| Days payable | 77 | 64 | 68 | 35 | 35 | 33 |
| Cash conversion cycle | 337 | 272 | 380 | 312 | 269 | 306 |
| Working capital days | 98 | 88 | 84 | 93 | 75 | 98 |
| Return on capital employed | 12.0% | 22.0% | 20.0% | 19.0% | 16.0% | 16.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 18.0% | 16.0% |
The businesses behind the company’s reported revenue.
Scaffoldings Division contributes 49.6% of reported segment revenue.
Quarter ended 30 Jun 2026 · Consolidated
₹405.08 crore
₹197.18 crore
₹94.91 crore
₹77.74 crore
₹41.41 crore
₹0.63 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| Scaffoldings Division | 405.08 | 49.6% |
| Drum Closures Division | 197.18 | 24.1% |
| Yarn Division | 94.91 | 11.6% |
| Engineering & Design | 77.74 | 9.5% |
| Fabric Division | 41.41 | 5.1% |
| Others | 0.63 | <0.1% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
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.
Scaffoldings Division grew from 48% to 50% of revenue over the last two years.
| Segment | Mar 2024 | Jun 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Dec 2025 | Mar 2026 | Jun 2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Scaffoldings Division | 48% | 52% | 45% | 44% | 49% | 46% | 45% | 50% | +31.4% |
| Drum Closures Division | — | — | — | — | — | — | 25% | 24% | — |
| Yarn Division | — | 9% | 16% | 15% | 11% | 14% | 13% | 12% | +33.0% |
| Engineering & Design | — | 8% | 8% | 8% | — | 10% | 11% | 10% | — |
| Fabric Division | — | 7% | 9% | 10% | 6% | 8% | 6% | 5% | +3.5% |
| Others | 0% | 0% | 0% | 0% | 0% | 0% | <1% | <1% | — |
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
To justify its price of ₹2539, this stock must grow earnings at 12% every year for 7 years. Our analysis caps realistic growth at ~5%. At that growth it is worth ₹1764 — downside of 31%.
Ownership
Promoters hold 74.74% as of Sept 2026; institutions cut 0.49 pts since Jun 2026.
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
The same filing shows 1 holder trimming and 2 off the list — both are in the register beside this.
Named in the Sep 2026 filing
Every holder of Technocraft Industries (India) Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 28.06% | unchanged | |
| 21.35% | unchanged | |
| 9.11% | unchanged | |
| 5.84% | unchanged | |
| 2.24% | unchanged | |
| AIF | 2.21% | −0.07 pp |
| 2.09% | unchanged | |
| 2.06% | unchanged | |
| 1.70% | unchanged | |
| 1.68% | unchanged | |
| Mutual fund | 1.45% | newly disclosed |
| 1.11% | 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.
Filings to Sep 2026
0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| HDFC Children's Fund HDFC Mutual Fund | ₹51 Cr | held | Nov '24 |
| HDFC Value Fund HDFC Mutual Fund | ₹44 Cr | held | Nov '25 |
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 Sep 2026
0 added, 0 trimmed — net 0 shares (+0.0%)
Shares held by these funds +105%
Nov '24 3.28 L shares Sep '26
Your own record
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