Tirupati Forge Limited
Tirupati Forge Limited produces and sells carbon steel forged flanges, forged, and other automotive components in India. The company provides slip-on, weld-neck, blind, lap-joint, threaded, din, and socket weld flanges; and elbow, tee, cross, coupling, half coupling, cap, plug, bushing, union, hex, nipple, and swag nipple forged pipe fittings. It also offers forged auto parts, gears, hammer union… Read more
Tirupati Forge Limited (TIRUPATIFL) - Net Assets
Latest net assets as of September 2025: ₹1.19 Billion INR
Based on the latest financial reports, Tirupati Forge Limited (TIRUPATIFL) has net assets worth ₹1.19 Billion INR as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₹1.67 Billion) and total liabilities (₹472.53 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₹1.19 Billion |
| % of Total Assets | 71.65% |
| Annual Growth Rate | 56.79% |
| 5-Year Change | 415.65% |
| 10-Year Change | 4761.75% |
| Growth Volatility | 82.84 |
Tirupati Forge Limited - Net Assets Trend (2013–2025)
This chart illustrates how Tirupati Forge Limited's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Tirupati Forge Limited (2013–2025)
The table below shows the annual net assets of Tirupati Forge Limited from 2013 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | ₹1.07 Billion | +114.48% |
| 2024-03-31 | ₹499.16 Million | +37.74% |
| 2023-03-31 | ₹362.38 Million | +35.17% |
| 2022-03-31 | ₹268.10 Million | +29.13% |
| 2021-03-31 | ₹207.62 Million | +11.97% |
| 2020-03-31 | ₹185.44 Million | +26.01% |
| 2019-03-31 | ₹147.16 Million | +40.46% |
| 2018-03-31 | ₹104.77 Million | +299.71% |
| 2017-03-31 | ₹26.21 Million | +19.03% |
| 2016-03-31 | ₹22.02 Million | +8.34% |
| 2015-03-31 | ₹20.33 Million | +52.93% |
| 2014-03-31 | ₹13.29 Million | +174.04% |
| 2013-03-31 | ₹4.85 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Tirupati Forge Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 31135900000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₹311.36 Million | 29.08% |
| Common Stock | ₹236.56 Million | 22.10% |
| Other Components | ₹522.69 Million | 48.82% |
| Total Equity | ₹1.07 Billion | 100.00% |
Tirupati Forge Limited Competitors by Market Cap
The table below lists competitors of Tirupati Forge Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Ion Electronic Materials Co., Ltd.
TWO:6959
|
$44.46 Million |
|
Kenorland Minerals Ltd
OTCQX:KLDCF
|
$44.47 Million |
|
Wayi International Digital Entertainment Co
TWO:3086
|
$44.55 Million |
|
Clene Inc.
NASDAQ:CLNN
|
$44.56 Million |
|
Apex Critical Metals Corp.
OTCQB:APXCF
|
$44.44 Million |
|
Sermsang Power Corporation Public Company Limited
BK:SSP
|
$44.44 Million |
|
BURELLE SA NOM. EO 15
F:7SP
|
$44.44 Million |
|
LIFETIME BRANDS DL-01
F:LH1
|
$44.41 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tirupati Forge Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 499,156,000 to 1,070,607,000, a change of 571,451,000 (114.5%).
- Net income of 78,554,000 contributed positively to equity growth.
- Share repurchases of 561,280,000 reduced equity.
- New share issuances of 561,280,000 increased equity.
- Other comprehensive income decreased equity by 291,796,000.
- Other factors increased equity by 784,693,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₹78.55 Million | +7.34% |
| Share Repurchases | ₹561.28 Million | -52.43% |
| Share Issuances | ₹561.28 Million | +52.43% |
| Other Comprehensive Income | ₹-291.80 Million | -27.26% |
| Other Changes | ₹784.69 Million | +73.29% |
| Total Change | ₹- | 114.48% |
Book Value vs Market Value Analysis
This analysis compares Tirupati Forge Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 4.14x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 116.05x to 4.14x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2014-03-31 | ₹0.38 | ₹43.86 | x |
| 2015-03-31 | ₹0.58 | ₹43.86 | x |
| 2016-03-31 | ₹0.63 | ₹43.86 | x |
| 2017-03-31 | ₹0.75 | ₹43.86 | x |
| 2018-03-31 | ₹1.73 | ₹43.86 | x |
| 2019-03-31 | ₹1.81 | ₹43.86 | x |
| 2020-03-31 | ₹2.03 | ₹43.86 | x |
| 2021-03-31 | ₹2.14 | ₹43.86 | x |
| 2022-03-31 | ₹2.74 | ₹43.86 | x |
| 2023-03-31 | ₹3.70 | ₹43.86 | x |
| 2024-03-31 | ₹5.04 | ₹43.86 | x |
| 2025-03-31 | ₹10.60 | ₹43.86 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tirupati Forge Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 7.34%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.83%
- • Asset Turnover: 0.79x
- • Equity Multiplier: 1.36x
- Recent ROE (7.34%) is below the historical average (14.77%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2014 | -0.44% | -0.09% | 0.69x | 7.43x | ₹-1.39 Million |
| 2015 | 34.61% | 2.33% | 2.14x | 6.96x | ₹5.00 Million |
| 2016 | 7.70% | 0.94% | 1.85x | 4.41x | ₹-507.10K |
| 2017 | 18.86% | 3.11% | 1.57x | 3.86x | ₹2.32 Million |
| 2018 | 14.75% | 7.54% | 1.61x | 1.21x | ₹4.98 Million |
| 2019 | 28.47% | 10.63% | 1.76x | 1.52x | ₹27.18 Million |
| 2020 | 1.48% | 1.03% | 1.04x | 1.37x | ₹-15.79 Million |
| 2021 | 1.90% | 1.47% | 0.79x | 1.62x | ₹-16.82 Million |
| 2022 | 23.21% | 7.88% | 1.51x | 1.96x | ₹35.42 Million |
| 2023 | 26.02% | 10.35% | 1.78x | 1.42x | ₹58.05 Million |
| 2024 | 13.31% | 6.11% | 1.46x | 1.49x | ₹16.51 Million |
| 2025 | 7.34% | 6.83% | 0.79x | 1.36x | ₹-28.51 Million |
Industry Comparison
This section compares Tirupati Forge Limited's net assets metrics with peer companies in the Metal Fabrication industry.
Industry Context
- Industry: Metal Fabrication
- Average net assets among peers: $2,316,030,916
- Average return on equity (ROE) among peers: 15.54%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tirupati Forge Limited (TIRUPATIFL) | ₹1.19 Billion | -0.44% | 0.40x | $44.46 Million |
| Aeroflex Industries Limited (AEROFLEX) | $477.26 Million | 14.85% | 2.21x | $117.91 Million |
| Alicon Castalloy Limited (ALICON) | $771.45 Million | 18.69% | 2.90x | $35.46 Million |
| BELL AGROMACHINA ORD T (BSE) (BALUFORGE) | $1.59 Billion | 18.81% | 0.79x | $157.21 Million |
| DCM Limited (DCM) | $2.25 Billion | -1.93% | 2.18x | $4.01 Million |
| DEE Development Eng Ltd (DEEDEV) | $4.12 Billion | 1.99% | 1.05x | $73.80 Million |
| D P Wires Limited (DPWIRES) | $1.52 Billion | 19.14% | 0.29x | $5.42 Million |
| Gandhi Special Tubes Limited (GANDHITUBE) | $490.87 Million | 32.88% | 0.19x | $42.31 Million |
| Ganga Forging Limited (GANGAFORGE) | $27.26 Million | 22.28% | 2.96x | $2.77 Million |
| Gravita India Limited (GRAVITA) | $2.04 Billion | 7.59% | 1.81x | $498.10 Million |
| Happy Forgings Limited (HAPPYFORGE) | $9.88 Billion | 21.12% | 0.34x | $301.15 Million |