Tirupati Forge Limited (TIRUPATIFL) - Net Assets

Latest as of September 2025: Rs1.19 Billion INR ≈ $12.91 Million USD

Based on the latest financial reports, Tirupati Forge Limited (TIRUPATIFL) has net assets worth Rs1.19 Billion INR (≈ $12.91 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs1.67 Billion ≈ $18.02 Million USD) and total liabilities (Rs472.53 Million ≈ $5.11 Million USD). 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. Check how resilient are Tirupati Forge Limited's assets to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Rs1.19 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. Also explore TIRUPATIFL current and non-current assets for the complete picture of this company's asset base.

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. For live valuation and market cap data, see market cap of Tirupati Forge Limited.

Year	Net Assets	Change
2025-03-31	Rs1.07 Billion ≈ $11.58 Million	+114.48%
2024-03-31	Rs499.16 Million ≈ $5.40 Million	+37.74%
2023-03-31	Rs362.38 Million ≈ $3.92 Million	+35.17%
2022-03-31	Rs268.10 Million ≈ $2.90 Million	+29.13%
2021-03-31	Rs207.62 Million ≈ $2.25 Million	+11.97%
2020-03-31	Rs185.44 Million ≈ $2.01 Million	+26.01%
2019-03-31	Rs147.16 Million ≈ $1.59 Million	+40.46%
2018-03-31	Rs104.77 Million ≈ $1.13 Million	+299.71%
2017-03-31	Rs26.21 Million ≈ $283.46K	+19.03%
2016-03-31	Rs22.02 Million ≈ $238.15K	+8.34%
2015-03-31	Rs20.33 Million ≈ $219.82K	+52.93%
2014-03-31	Rs13.29 Million ≈ $143.74K	+174.04%
2013-03-31	Rs4.85 Million ≈ $52.45K	--

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	Rs311.36 Million	29.08%
Common Stock	Rs236.56 Million	22.10%
Other Components	Rs522.69 Million	48.82%
Total Equity	Rs1.07 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
WIZIT Co. Ltd KQ:036090	$56.75 Million
Air T Inc NASDAQ:AIRT	$56.78 Million
Petra Energy Bhd KLSE:5133	$56.81 Million
Wam Active Ltd AU:WAA	$56.84 Million
KUYA SILVER CORP. F:6MR1	$56.73 Million
IXAQF NASDAQ:IXAQF	$56.72 Million
Thai Solar Energy Public Company Limited BK:TSE	$56.70 Million
Litemax Electronics TWO:4995	$56.68 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	Rs78.55 Million	+7.34%
Share Repurchases	Rs561.28 Million	-52.43%
Share Issuances	Rs561.28 Million	+52.43%
Other Comprehensive Income	Rs-291.80 Million	-27.26%
Other Changes	Rs784.69 Million	+73.29%
Total Change	Rs-	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: 4.18x
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 117.38x to 4.18x 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	Rs0.38	Rs44.36	x
2015-03-31	Rs0.58	Rs44.36	x
2016-03-31	Rs0.63	Rs44.36	x
2017-03-31	Rs0.75	Rs44.36	x
2018-03-31	Rs1.73	Rs44.36	x
2019-03-31	Rs1.81	Rs44.36	x
2020-03-31	Rs2.03	Rs44.36	x
2021-03-31	Rs2.14	Rs44.36	x
2022-03-31	Rs2.74	Rs44.36	x
2023-03-31	Rs3.70	Rs44.36	x
2024-03-31	Rs5.04	Rs44.36	x
2025-03-31	Rs10.60	Rs44.36	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	Rs-1.39 Million
2015	34.61%	2.33%	2.14x	6.96x	Rs5.00 Million
2016	7.70%	0.94%	1.85x	4.41x	Rs-507.10K
2017	18.86%	3.11%	1.57x	3.86x	Rs2.32 Million
2018	14.75%	7.54%	1.61x	1.21x	Rs4.98 Million
2019	28.47%	10.63%	1.76x	1.52x	Rs27.18 Million
2020	1.48%	1.03%	1.04x	1.37x	Rs-15.79 Million
2021	1.90%	1.47%	0.79x	1.62x	Rs-16.82 Million
2022	23.21%	7.88%	1.51x	1.96x	Rs35.42 Million
2023	26.02%	10.35%	1.78x	1.42x	Rs58.05 Million
2024	13.31%	6.11%	1.46x	1.49x	Rs16.51 Million
2025	7.34%	6.83%	0.79x	1.36x	Rs-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: $2,406,066,390
Average return on equity (ROE) among peers: 13.88%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Tirupati Forge Limited (TIRUPATIFL)	Rs1.19 Billion	-0.44%	0.40x	$56.74 Million
Aeroflex Industries Limited (AEROFLEX)	$3.42 Billion	15.33%	0.25x	$436.02 Million
Alicon Castalloy Limited (ALICON)	$231.86 Million	32.52%	4.67x	$123.28 Million
BELL AGROMACHINA ORD T (BSE) (BALUFORGE)	$1.98 Billion	19.69%	0.88x	$710.75 Million
DCM Limited (DCM)	$869.40 Million	-1.79%	4.76x	$16.57 Million
DEE Development Eng Ltd (DEEDEV)	$4.54 Billion	0.00%	0.84x	$312.36 Million
D P Wires Limited (DPWIRES)	$278.89 Million	18.01%	1.92x	$29.98 Million
Gandhi Special Tubes Limited (GANDHITUBE)	$1.02 Billion	24.96%	0.10x	$109.45 Million
Ganga Forging Limited (GANGAFORGE)	$119.98 Million	-17.63%	1.75x	$4.23 Million
Gravita India Limited (GRAVITA)	$6.02 Billion	33.42%	1.00x	$1.28 Billion
Happy Forgings Limited (HAPPYFORGE)	$5.58 Billion	14.31%	0.37x	$1.38 Billion

About Tirupati Forge Limited

NSE:TIRUPATIFL India Metal Fabrication

Market Cap

$56.74 Million

Rs5.25 Billion INR

Market Cap Rank

#21396 Global

#1173 in India

Share Price

Rs44.36

Change (1 day)

-1.84%

52-Week Range

Rs29.65 - Rs49.41

All Time High

Rs72.88