Key Metrics 
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10 Yrs X-Ray 
Valuation 
Analyst Note 
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About
Tirupati Starch & Chemicals Ltd (524582)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 524582 NSE: Consumer Food | Small Cap | Tirupati Starch&Chem Share Price
₹130.35 -9.65 (-6.89%)
As on 04-Sep'26 16:59
Tirupati Starch & Chemicals Ltd (524582)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 524582 NSE: Consumer Food | Small Cap | Tirupati Starch&Chem Share Price
₹130.35 -9.65 (-6.89%)
As on 04-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹125 Cr.
Current Price
₹130.4
52-Week Low / High
₹115 / 219
TTM EPS
₹6
TTM Sales
₹363 Cr.
Book Value per Share
₹70.7
P/E Ratio
21.57
Higher than its 5-year historical median
Industry PE
52.1
Price to Book (P/B)
1.84
Lower than its 5-year historical median
Price to Sales (P/S)
0.34
Lower than its 5-year historical median
EV/EBITDA
9.01
In line with its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
10.29%
Outperforms industry median
Return on Capital Employed (ROCE)
10.26%
Underperforms industry median
Return on Assets (ROA)
2.99%
Operating Profit Margin
6.8%
Net Profit Margin
1.81%
Gross Profit Margin
4.8%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-5.94%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
0.57%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-12.73%
Asset Quality
Promoter Holding
72.88%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹58 Cr.
Equity
₹9.6 Cr.
Face Value
₹10
All Time Low / High
₹0.60 / 263.85
Check Before You Invest
Quality
Not GoodValuation
FairCheck Valuation charts
Price Trend
Weak
Is Tirupati Starch & Chemicals Ltd a good quality company?
Tirupati Starch & Chemicals Ltd is a weak quality company, based on a inconsistent 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 Tirupati Starch & Chemicals Ltd performance compare with that of its Peers?
Revenue growth of Tirupati Starch & Chemicals Ltd vs industry peers?
Tirupati Starch & Chemicals Ltd revenue CAGR is 12.68%, compared to the industry median CAGR of 8.20%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Tirupati Starch & Chemicals Ltd?
Promoters hold 72.88% of the Tirupati Starch & Chemicals Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Tirupati Starch & Chemicals Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 15.9% 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.
Tirupati Starch & Chemicals 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'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 7.8% | 12% | 15.2% | 8.9% | 6.6% | 15.7% | 12.9% | 7.7% | 10.4% | 10.3% | - |
| Value Creation Index ⓘ | -0.4 | -0.1 | 0.1 | -0.4 | -0.5 | 0.1 | -0.1 | -0.5 | -0.3 | -0.3 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 175 | 199 | 227 | 272 | 200 | 318 | 364 | 306 | 386 | 363 | 363 |
| Sales YoY Gr. | - | 14% | 14.2% | 19.5% | -26.4% | 59.1% | 14.5% | -16% | 26.2% | -5.9% | - |
| Adj EPS ⓘ | 0.9 | 2.6 | 5.2 | 1.7 | 1.4 | 11.8 | 8.1 | 2.2 | 7.9 | 6.9 | 6 |
| YoY Gr. | - | 204.7% | 97% | -68% | -14.6% | 736.9% | -31.2% | -73.4% | 263.9% | -12.7% | - |
| BVPS (₹) ⓘ | 21.4 | 28.7 | 34 | 35.9 | 39.7 | 51.5 | 56.9 | 55.8 | 63.3 | 70 | 70.7 |
| Adj Net Profit ⓘ | 0.5 | 1.6 | 3.1 | 1 | 1 | 8.3 | 6.6 | 2.1 | 7.5 | 6.6 | 6 |
| Cash Flow from Ops. ⓘ | 13.7 | 32.9 | 5.3 | 11.6 | -34.6 | -0.8 | 23.3 | -34.2 | 48.9 | 42.9 | - |
| Debt/CF from Ops. ⓘ | 3.6 | 0.8 | 4.4 | 1.9 | -1.6 | -99.8 | 3.9 | -4.5 | 2.8 | 2.6 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 8.5% | 12.7% | -0.1% | -5.9% | ||||
| Adj EPS ⓘ | 26% | 37.2% | -5.5% | -12.7% | ||||
| BVPSⓘ | 14.1% | 12% | 7.2% | 10.6% | ||||
| Share Price | 15.9% | 22% | 17.7% | -26.3% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 4.2 | 10.5 | 16.5 | 4.7 | 4 | 25.9 | 16 | 4.2 | 13.2 | 10.3 | 8.6 |
| Op. Profit Mgn % ⓘ | 2.3 | 4.9 | 4.8 | 3 | 4.6 | 6.1 | 5.8 | 6.7 | 6.4 | 6.9 | 6.4 |
| Net Profit Mgn % ⓘ | 0.3 | 0.8 | 1.4 | 0.4 | 0.5 | 2.6 | 1.8 | 0.7 | 2 | 1.8 | 1.6 |
| Debt to Equity ⓘ | 3.8 | 1.5 | 1.1 | 1 | 2 | 2.1 | 2 | 2.9 | 2.2 | 1.6 | - |
| Working Cap Days ⓘ | 82 | 70 | 88 | 90 | 110 | 77 | 70 | 98 | 92 | 84 | 40 |
| Cash Conv. Cycle ⓘ | 15 | 15 | 17 | -17 | -37 | 17 | 26 | 59 | 65 | 54 | -4 |
Valuation of Tirupati Starch&Chem - Standalone
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 175 | 199 | 227 | 272 | 200 | 318 | 364 | 306 | 386 | 363 |
| Operating Expenses ⓘ + | 171 | 189 | 216 | 264 | 191 | 299 | 343 | 286 | 361 | 338 |
| Operating Profit ⓘ | 4 | 10 | 11 | 8 | 9 | 19 | 21 | 20 | 25 | 25 |
| Operating Profit Margin (%) | 2.3% | 4.9% | 4.8% | 3.0% | 4.6% | 6.1% | 5.8% | 6.7% | 6.4% | 6.8% |
| Other Income ⓘ + | 5 | 1 | 1 | 1 | 0 | 2 | 1 | 0 | 4 | 3 |
| Interest ⓘ | 5 | 4 | 3 | 2 | 3 | 6 | 8 | 10 | 11 | 10 |
| Depreciation ⓘ | 5 | 5 | 5 | 5 | 5 | 6 | 6 | 8 | 8 | 8 |
| Profit Before Tax ⓘ | 0 | 2 | 4 | 2 | 1 | 9 | 8 | 3 | 10 | 9 |
| Tax ⓘ | -1 | 0 | 1 | 0 | 0 | 1 | 1 | 1 | 3 | 2 |
| Profit After Tax | 1 | 2 | 3 | 1 | 1 | 8 | 7 | 2 | 8 | 7 |
| PAT Margin (%) | 0.7% | 0.9% | 1.4% | 0.4% | 0.5% | 2.6% | 1.8% | 0.7% | 2.0% | 1.8% |
| Adjusted EPS (₹) | 1.9 | 2.9 | 5.3 | 1.9 | 1.5 | 11.8 | 8.1 | 2.2 | 7.9 | 6.9 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 13 | 17 | 21 | 22 | 28 | 36 | 46 | 54 | 61 | 67 | |
| Debt + | 44 | 21 | 22 | 21 | 53 | 75 | 83 | 138 | 118 | 93 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 21 | 21 | 45 | 92 | 35 | 34 | 22 | 8 | 18 | 19 | |
| Others Liabilities ⓘ | 28 | 49 | 51 | 5 | 17 | 14 | 18 | 27 | 33 | 30 | |
| Total Liabilities ⓘ | 105 | 108 | 138 | 140 | 133 | 158 | 169 | 226 | 230 | 210 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 64 | 65 | 60 | 55 | 71 | 61 | 55 | 93 | 98 | 134 | |
| CWIP ⓘ | 0 | 0 | 9 | 18 | 7 | 16 | 46 | 27 | 40 | 0 | |
| Investments ⓘ | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | |
| Inventories | 15 | 13 | 19 | 29 | 15 | 33 | 14 | 49 | 42 | 35 | |
| Trade Receivables | 17 | 21 | 38 | 27 | 24 | 30 | 33 | 34 | 39 | 30 | |
| Cash Equivalents | 0 | 1 | 1 | 1 | 0 | 1 | 8 | 2 | 0 | 0 | |
| Others Assets ⓘ | 9 | 9 | 11 | 10 | 15 | 16 | 13 | 22 | 9 | 10 | |
| Total Assets ⓘ | 105 | 108 | 138 | 140 | 133 | 158 | 169 | 226 | 230 | 210 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 14 | 33 | 5 | 12 | -35 | -1 | 23 | -34 | 49 | 43 |
| Cash Flow From Investing Activity ⓘ + | -5 | -5 | -9 | -9 | -6 | -6 | -25 | -32 | -26 | -7 |
| Cash Flow From Financing Activity ⓘ + | -8 | -28 | 4 | -3 | 41 | 7 | 9 | 59 | -24 | -36 |
| Net Cash Flow ⓘ | -0 | 0 | 0 | -0 | -0 | -0 | 8 | -7 | -1 | -0 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 9.76 | 11.63 | 16.99 | 5.41 | 4.13 | 25.9 | 16.01 | 4.17 | 13.19 | 10.29 |
| ROCE (%) | 7.78 | 12 | 15.2 | 8.92 | 6.61 | 15.68 | 12.85 | 7.67 | 10.35 | 10.26 |
| Asset Turnover Ratio | 1.75 | 2.06 | 1.84 | 1.95 | 1.46 | 2.19 | 2.23 | 1.55 | 1.69 | 1.65 |
| PAT to CFO Conversion(x) | 14 | 16.5 | 1.67 | 12 | -35 | -0.13 | 3.29 | -17 | 6.13 | 6.14 |
| Working Capital Days | ||||||||||
| Receivable Days | 35.80 | 31.50 | 46.90 | 43.70 | 47.30 | 31.50 | 31.80 | 40.20 | 34.80 | 34.80 |
| Inventory Days | 32.30 | 23.40 | 25.30 | 31.70 | 40.10 | 27.50 | 23.30 | 37.20 | 43.10 | 39 |
| Payable Days | 68.30 | 53.20 | 72.40 | 115.10 | 162.20 | 56.70 | 38.80 | 25.10 | 16.80 | 27.10 |
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Tirupati Starch & Chemicals Ltd FAQs
The current trading price of Tirupati Starch&Chem on 04-Sep-2026 16:59 is ₹130.3.
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 03-Sep-2026 the market cap of Tirupati Starch&Chem stood at ₹125.0 Cr
The latest P/E ratio of Tirupati Starch&Chem as of 03-Sep-2026 is 21.57.
The latest P/B ratio of Tirupati Starch&Chem as of 03-Sep-2026 is 1.84.
The 52-week high of Tirupati Starch&Chem is ₹218.9 and the 52-week low is ₹115.4.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Tirupati Starch&Chem is ₹363 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Tirupati Starch & Chemicals Ltd is a below average quality company.
The key valuation ratios of Tirupati Starch & Chemicals Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Tirupati Starch & Chemicals Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Tirupati Starch & Chemicals Ltd
Tirupati Starch & Chemicals Ltd. is a public limited company incorporated on December 9, 1985 with Dr.Damodar Modi as Chairman and promoter of the company.
Tirupati Starch & Chemicals Ltd. is a producer of maize starch powder, maize gluten, maize grit yellow dextrine and white dextrine.
The Plant of the company is located at Village Sejwaya, Ghatabillod District Dhar in Madhya Pradesh. The company is a public limited company with Dr.Damodar Modi as Chairman and Managing Director, he is from Medical profession and has served as physician in Semiran Hospital of Iran during 1975 to 1983 on deputing from government of India.
Product range of the company includes:
- Starch & its Bye Products
- Dextrose Anhydrous IP
- Dextrose Monohydrate
- Liquid Dextrose
- Glucose-D
- Hydrol
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