Key Metrics 
Check Before You Invest 
10 Yrs X-Ray 
Valuation 
Analyst Note 
Qtr. Results 
Financials 
News 
About
Tonbo Imaging India Ltd (TONBO)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544999 NSE: TONBO Electronics - Components | Small Cap | Tonbo Imaging India Share Price
₹1,307.20 93.25 (7.68%)
As on 30-Oct'26 16:59
Tonbo Imaging India Ltd (TONBO)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544999 NSE: TONBO Electronics - Components | Small Cap | Tonbo Imaging India Share Price
₹1,307.20 93.25 (7.68%)
As on 30-Oct'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹7,488 Cr.
Current Price
₹1,307.2
52-Week Low / High
₹1,014 / 1,344
TTM EPS
₹8.9
TTM Sales
₹363 Cr.
Book Value per Share
₹94.4
P/E Ratio
147.17
Industry PE
46.5
Price to Book (P/B)
13.86
Price to Sales (P/S)
20.65
EV/EBITDA
67.60
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
9.97%
In line with industry median
Return on Capital Employed (ROCE)
13.02%
Outperforms industry median
Return on Assets (ROA)
6.74%
Operating Profit Margin
23.7%
Net Profit Margin
14.03%
Gross Profit Margin
27.9%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-23.12%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-38.31%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-30.07%
Asset Quality
Promoter Holding
14.56%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹529 Cr.
Equity
₹11.5 Cr.
Face Value
₹2
All Time Low / High
₹1013.95 / 1343.80
Check Before You Invest
Quality
Not GoodValuation
NACheck Valuation charts
Price Trend
Weak
Is Tonbo Imaging India Ltd a good quality company?
Tonbo Imaging India Ltd is a quality company, based on a multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Tonbo Imaging India Ltd performance compare with that of its Peers?
Revenue growth of Tonbo Imaging India Ltd vs industry peers?
Tonbo Imaging India Ltd revenue CAGR is 55.30%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Tonbo Imaging India Ltd?
Promoters hold 14.56% of the Tonbo Imaging India Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Tonbo Imaging India Ltd over the last decade?
Over the last - year(s), the stock has delivered a CAGR of N/A% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Tonbo Imaging India Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation ⓘ
| Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|
| ROCE % ⓘ | 12.3% | 51.5% | 26.2% | 12.9% | - |
| Value Creation Index ⓘ | -0.1 | 2.8 | 0.9 | -0.1 | - |
Growth Parameters ⓘ |
|||||
| Sales ⓘ | 96.8 | 428 | 469 | 361 | 361 |
| Sales YoY Gr. | - | 342.2% | 9.6% | -23.1% | - |
| Adj EPS ⓘ | 0.8 | 23 | 10.1 | 8.7 | 8.7 |
| YoY Gr. | - | 2641.7% | -56.3% | -13.1% | - |
| BVPS (₹) ⓘ | 5.1 | 56.6 | 65.4 | 94.2 | 94.2 |
| Adj Net Profit ⓘ | 2.5 | 68.8 | 73.8 | 50.1 | 50 |
| Cash Flow from Ops. ⓘ | 23.1 | 78.3 | -136 | -65 | - |
| Debt/CF from Ops. ⓘ | 1.8 | 1.2 | -0.6 | -1.8 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 55% | -23.1% | ||||
| Adj EPS ⓘ | NA | NA | 118.3% | -13.1% | ||||
| BVPSⓘ | NA | NA | 165.2% | 43.9% | ||||
| Share Price | - | - | - | - | ||||
Key Financial Parameters ⓘ
| Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|
| Return on Equity % ⓘ | 8.4 | 52.9 | 20.5 | 9.6 | 9.3 |
| Op. Profit Mgn % ⓘ | 10.6 | 26.2 | 29.8 | 23.5 | NAN |
| Net Profit Mgn % ⓘ | 2.6 | 16.1 | 15.7 | 13.9 | 13.9 |
| Debt to Equity ⓘ | 1.4 | 0.4 | 0.2 | 0.2 | - |
| Working Cap Days ⓘ | 0 | 160 | 267 | 485 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 89 | 181 | 344 | 0 |
Valuation of Tonbo Imaging India - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|
| Sales | 97 | 428 | 469 | 363 |
| Operating Expenses ⓘ + | 87 | 316 | 330 | 277 |
| Operating Profit ⓘ | 10 | 112 | 139 | 86 |
| Operating Profit Margin (%) | 10.6% | 26.2% | 29.6% | 23.7% |
| Other Income ⓘ + | 2 | 4 | 5 | 26 |
| Interest ⓘ | 7 | 8 | 18 | 11 |
| Depreciation ⓘ | 2 | 13 | 27 | 31 |
| Profit Before Tax ⓘ | 1 | 95 | 99 | 70 |
| Tax ⓘ | 0 | 26 | 27 | 19 |
| Profit After Tax | 1 | 69 | 73 | 51 |
| PAT Margin (%) | 1.2% | 16.0% | 15.5% | 14.0% |
| Adjusted EPS (₹) | 0.4 | 22.9 | 9.9 | 8.9 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 29 | 230 | 480 | 540 | |||||||
| Debt + | 40 | 96 | 78 | 116 | |||||||
| Minority Interest | 0 | 0 | 0 | 0 | |||||||
| Trade Payables | 29 | 20 | 21 | 33 | |||||||
| Others Liabilities ⓘ | 74 | 228 | 147 | 93 | |||||||
| Total Liabilities ⓘ | 171 | 575 | 726 | 782 | |||||||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 17 | 197 | 199 | 195 | |||||||
| CWIP ⓘ | 0 | 0 | 1 | 12 | |||||||
| Investments ⓘ | 0 | 0 | 0 | 0 | |||||||
| Inventories | 40 | 112 | 111 | 219 | |||||||
| Trade Receivables | 41 | 94 | 210 | 212 | |||||||
| Cash Equivalents | 40 | 116 | 102 | 39 | |||||||
| Others Assets ⓘ | 34 | 56 | 104 | 105 | |||||||
| Total Assets ⓘ | 171 | 575 | 726 | 782 | |||||||
| PARTICULARS | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 23 | 78 | -136 | -63 |
| Cash Flow From Investing Activity ⓘ + | -10 | -190 | -25 | -32 |
| Cash Flow From Financing Activity ⓘ + | -8 | 188 | 147 | 32 |
| Net Cash Flow ⓘ | 4 | 76 | -14 | -63 |
| PARTICULARS | Mar'23 | Mar'24 | Mar'25 | Mar'26 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 7.83 | 74.35 | 22.41 | 9.97 | ||||||
| ROCE (%) | 12.34 | 51.45 | 26.15 | 13.02 | ||||||
| Asset Turnover Ratio | 0.57 | 1.15 | 0.72 | 0.48 | ||||||
| PAT to CFO Conversion(x) | 23 | 1.13 | -1.86 | -1.24 | ||||||
| Working Capital Days | ||||||||||
| Receivable Days | 155.20 | 57.50 | 118.30 | 212.40 | ||||||
| Inventory Days | 149.20 | 64.50 | 86.70 | 166.40 | ||||||
| Payable Days | 177.60 | 40.60 | 37 | 56.10 | ||||||
Top 5 Mutual Funds Holding
Last Visited Stocks
Announcements
Annual reports
No annual reports available.
Concalls
No concalls available.
Tonbo Imaging India Ltd FAQs
The current trading price of Tonbo Imaging India on 30-Oct-2026 16:59 is ₹1,307.2.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 29-Oct-2026 the market cap of Tonbo Imaging India stood at ₹7,487.9 Cr
The latest P/E ratio of Tonbo Imaging India as of 29-Oct-2026 is 149.6.
The latest P/B ratio of Tonbo Imaging India as of 29-Oct-2026 is 13.88.
The 52-week high of Tonbo Imaging India is ₹1,343.8 and the 52-week low is ₹1,014.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Tonbo Imaging India is ₹361 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Tonbo Imaging India Ltd is a below average quality company.
No data found
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Tonbo Imaging India Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Tonbo Imaging India Ltd
Tonbo Imaging India was originally incorporated as ‘Sarnoff Innovative Technologies Private Limited’ as a private limited company on December 18, 2003. Subsequently, the name of the company was changed to ‘Serial Innovations India Private Limited’ on August 14, 2008. The name of the company was further changed to ‘Tonbo Imaging India Private Limited’ on May 13, 2016 due to a change in branding and strategy. Upon the conversion of the company from a private limited company to a public limited company on September 11, 2025, pursuant to a resolution passed by the Board of Directors and Shareholders each dated August 15, 2025, the name of the company was changed to ‘Tonbo Imaging India Limited’.
The company is a global defence electronics original equipment manufacturer (OEM). It designs, develops and manufactures sensing, processing, communication and guidance systems for surveillance, reconnaissance, targeting, and control. It has developed a diversified product portfolio including thermal imaging cores, weapon sights, hand-held thermal imaging binoculars, targeting systems, missile seekers, fire control systems, missile guidance systems amongst others to enable autonomy on the battlefield.
Its expertise spans design capabilities across electro optics and infrared systems (EO/IR) and embedded vision systems serving both - Indian and global companies. It is a recognized OEM providing a diverse suite of field-proven electro-optic products free from export restrictions under International Traffic in Arms Regulations (ITAR).
Business area of the company
The company is engaged in providing vision technology-based products and solutions.
Products of the company
Tactical
- Weapon scopes
- Helmet Mounted sights
- Surveillance and reconnaissance
- Target acquisition
Naval
- Fire control system
- Observation systems
- Video boresight tools
- EOIR search and track
Land
- Driver vision
- Situational awareness
- Fire control systems
- Missile system
Aerial
- Long range surveillance and targeting payload
- Miniature gimbals for surveillance and targeting
- Enhanced vision system
Homeland
- Long range recognizance and observation system
Directed energy
- High power microwave system for counter unmanned aerial vehicle (UAV)
Awards, accreditations and recognition
- 2017: Awarded Young Turks Startup of the year by CNBC-TV18.
- 2018: Awarded the Marico Innovation Foundation Award at the MIF Awards 2018.
- 2025: Excellence in Tech Export Production (Medium Enterprises) awarded at the SME Champion Awards.
History and milestones
- 2012: Changed strategic focus from sale of intellectual property services to product company.
- 2015: Achieved first production order.
- 2018: Crossed Rs 300.00 million in export orders in Israel and Philippines.
- 2019: Won iDEX challenge to design multi sensor see through armour for 360-degree situational awareness.
- 2024: Secured Rs 4,527.00 million in export orders from Europe.
- 2024: Successful integration of multimode imaging seeker in anti-tank guided missiles developed by the Indian government.
- 2024: Crossed domestic revenues of Rs 1,700.00 million.
- 2024: Raised capital of Rs 1,323.00 million through issue of Preference Shares from investors including Artiman Ventures and Ramesh Radhakrishnan.
- 2024: Established in-house clean room for prototype development.
- 2025: Successful deployment of long range missile tracking system.
- 2025: Crossed Rs 4,500.00 million in revenue from operations and achieved profits of Rs 727.57 million.
- 2025: Raised capital of Rs 1,750.00 million from investors including CEAQ Singapore and Artiman Ventures.
- 2025: Won iDEX challenge to design High Power Microwave System for counter unmanned aerial vehicles.
You have 4 views remaining as a Guest User. To get DeciZen Rating of 3,500+ Stocks based on their Quality, Valuation and Price Trend Login Now