MoneyWorks4Me

Divgi Torqtransfer Systems Ltd (DIVGIITTS)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543812 NSE: DIVGIITTS Auto Ancillary | Small Cap | Divgi Torqtransfer Share Price

₹1,189.20 20.30 (1.74%)

As on 11-Sep'26 16:59

Divgi Torqtransfer Systems Ltd (DIVGIITTS)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543812 NSE: DIVGIITTS Auto Ancillary | Small Cap | Divgi Torqtransfer Share Price

₹1,189.20 20.30 (1.74%)

As on 11-Sep'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹3,637 Cr.
Current Price
₹1,189.2
52-Week Low / High
₹570 / 1,326
TTM EPS
₹20.7
TTM Sales
₹418 Cr.
Book Value per Share
₹216
P/E Ratio
57.51
In line with its 5-year historical median
Industry PE
49
Price to Book (P/B)
5.50
Higher than its 5-year historical median
Price to Sales (P/S)
8.69
Higher than its 5-year historical median
EV/EBITDA
29.10
Higher than its 5-year historical median
Dividend Yield
0.27%
Profitability Efficiency
Return on Equity (ROE)
7.62%
Underperforms industry median
Return on Capital Employed (ROCE)
10.27%
Underperforms industry median
Return on Assets (ROA)
6.74%
Operating Profit Margin
19.9%
Net Profit Margin
13.3%
Gross Profit Margin
26.1%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
61.2%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
86.88%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
92.41%
Asset Quality
Promoter Holding
60.56%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹645 Cr.
Equity
₹15.3 Cr.
Face Value
₹5
All Time Low / High
₹410.05 / 1325.70

Divgi Torqtransfer Systems stock performance

Key Ratios
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Check Before You Invest

Valuation

Overvalued

Price Trend

Strong
Q.1 Is Divgi Torqtransfer Systems Ltd a good quality company?
Divgi Torqtransfer Systems Ltd is a good quality company, based on a consistently good 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 Divgi Torqtransfer Systems Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Divgi Torqtransfer Systems Ltd vs industry peers?
Divgi Torqtransfer Systems Ltd revenue CAGR is 13.59%, compared to the industry median CAGR of 13.71%, indicating stable growth and maintaining its market share.
Q.1 Promoter shareholding and pledge status of Divgi Torqtransfer Systems Ltd?
Promoters hold 60.56% of the Divgi Torqtransfer Systems Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Divgi Torqtransfer Systems Ltd over the last decade?
Over the last 3 year(s), the stock has delivered a CAGR of 6.02% 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 end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

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.
Divgi Torqtransfer Systems Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 45.5%32%29.9%17.2%19%19.7%15.5%9.6%5.7%10.3%-
Value Creation
Index
2.31.31.10.20.40.40.1-0.3-0.6-0.3-

Growth Parameters

Sales 133159187159187234271253219353418
Sales YoY Gr.-19.8%17.2%-14.9%17.3%25.3%15.9%-6.5%-13.6%61.2%-
Adj EPS 9.111.518.111.113.916.416.61381520.7
YoY Gr.-26.7%57.8%-39%25.4%18.5%1.2%-21.8%-38.7%87.7%-
BVPS (₹) 3344.7107.687107.5123.5180.3189.8195.1207.8216
Adj Net
Profit
19.624.839.126.638.245.350.939.824.445.863
Cash Flow from Ops. 33.219.94638.42751.140.832.535.241.1-
Debt/CF from Ops. 2.22.401.3000000-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 11.4%13.6%9.2%61.2%
Adj EPS 5.7%1.5%-3.5%87.7%
BVPS22.7%14.1%4.9%6.5%
Share Price - - 8.3% 82.9%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
42.729.623.71215.114.211.474.17.49.8
Op. Profit
Mgn %
26.328.328.923.52828.227.521.117.219.922.2
Net Profit
Mgn %
14.715.520.916.820.519.418.815.711.11315.1
Debt to
Equity
10.500.2000000-
Working Cap
Days
67127128143147144143177202144207
Cash Conv.
Cycle
4365150364347738859169

Valuation of Divgi Torqtransfer - Standalone

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
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mw4me loader

Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales133159187159187234271253219353
Operating Expenses + 98114133122135168196200181283
Manufacturing Costs25353933334149545181
Material Costs48546758679411110688137
Employee Cost 14151617222324242542
Other Costs 11111113131112161723
Operating Profit 35455437526675533870
Operating Profit Margin (%) 26.3%28.3%28.9%23.3%27.9%28.2%27.5%21.0%17.2%19.9%
Other Income + 65912888202122
Exceptional Items 0000000000
Interest 7715000111
Depreciation 346681113192529
Profit Before Tax 31405638536269543363
Tax 1115151015161814916
Profit After Tax 20254028384651402447
PAT Margin (%) 15.0%15.9%21.6%17.6%20.4%19.7%18.9%15.7%11.1%13.3%
Adjusted EPS (₹)9.311.718.711.413.816.816.713.08.015.3
Dividend Payout Ratio (%)0%0%0%5.70%5.60%19.90%20%20%32.60%21.30%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 7196234210296340551580597635
Share Capital 557671415151515
Reserves 6691227204289326536565581620
Debt +24900000000
Long Term Debt2100000000
Short Term Debt04800000000
Minority Interest0000000000
Trade Payables22242023404046384060
Others Liabilities 84162471272644232336
Total Liabilities 179185279304363405642641660731

Fixed Assets

Net Fixed Assets +55727889105112117227255259
Gross Block105125136153176194212339392422
Accumulated Depreciation50545764718295111136163
CWIP 42966289326219
Investments 0000000000
Inventories12202021273032363959
Trade Receivables29373823555373635579
Cash Equivalents flag 7147125150159173311264285295
Others Assets 7781411916252421
Total Assets 179185279304363405642641660731
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 33204638275141323541
PBT 31405638536269543363
Adjustment 57-02456-0510
Changes in Working Capital 5-14510-17-1-17-74-17
Tax Paid -8-13-15-12-12-16-17-14-7-15
Cash Flow From Investing Activity + -1257-90-24-25-51-2136-43-16
Capex -14-18-22-13-26-40-68-78-26-44
Net Investments -11522-74-16-9-17-15174-376
Others 43651066102122
Cash Flow From Financing Activity + 83-3048-6-3-3160-12-9-9
Net Proceeds from Shares 3000000169000
Net Proceeds from Borrowing 720-1-0-0-00-0-0-0
Interest Paid -7-6-1-0-0-0-0-0-0-0
Dividend Paid 000-4-2-2-9-10-8-8
Others -12-2549-1-1-1-1-1-0-1
Net Cash Flow -9-348-0-3-1327-1616
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)43.6330.1924.5312.715.0514.5211.487.024.147.62
ROCE (%)45.473229.8617.1519.0119.6615.539.565.7110.27
Asset Turnover Ratio1.350.890.810.550.560.610.520.390.340.51
PAT to CFO Conversion(x)1.650.81.151.360.711.110.80.81.460.87
Working Capital Days
Receivable Days39.3074.5073.3070.5076.5083.9084.7098.2098.8069.70
Inventory Days16.5036.7039.3046.5046.4044.3041.7048.7062.1050.40
Payable Days96.30157.10121.60136.40171.30155140.60144161.40133.90

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Divgi Torqtransfer Systems Ltd FAQs

The current trading price of Divgi Torqtransfer on 11-Sep-2026 16:59 is ₹1,189.2.

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 10-Sep-2026 the market cap of Divgi Torqtransfer stood at ₹3,636.9 Cr

The latest P/E ratio of Divgi Torqtransfer as of 10-Sep-2026 is 57.51.

The latest P/B ratio of Divgi Torqtransfer as of 10-Sep-2026 is 5.50.

The 52-week high of Divgi Torqtransfer is ₹1,325.7 and the 52-week low is ₹570.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Divgi Torqtransfer is ₹418 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Divgi Torqtransfer Systems Ltd is a good quality company.

The key valuation ratios of Divgi Torqtransfer Systems Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Divgi Torqtransfer Systems Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Divgi Torqtransfer Systems Ltd

Divgi TorqTransfer Systems was originally incorporated as ‘Divgi Metalwares Private Limited’, a private limited company under the Companies Act, 1956 through certificate of incorporation dated December 16, 1964 issued by the RoC. Pursuant to an amendment to the Companies Act, 1956, the company was deemed public under Section 43A(1A) of the Companies Act, 1956. Consequently, the word private was deleted from the name of the company and its name was changed to “Divgi Metalwares Limited” with effect from July 1, 1996. The name of the company was further changed to “Divgi Metalwares Private Limited” upon insertion of the word ‘Private’ after the company was converted into a private limited company pursuant to an amendment to Section 43A(1A) in Companies Act, 1956 by Companies Amendment Act, 2000 with effect from November 23, 1998 and subsequently, a fresh certificate of incorporation dated October 26, 1999 was issued by the RoC.

Divgi Transmission Private Limited was incorporated on September 18, 1995. Pursuant to the special resolution dated September 20, 1995, the name of Divgi Transmission Private Limited was changed to “Divgi Warner Private Limited” and a fresh certificate of incorporation was issued on November 8, 1995. The name was further changed to “Divgi TorqTransfer Systems Private Limited” pursuant to the buyout of shares from BorgWarner and a fresh certificate of incorporation was issued on September 30, 2016.

Pursuant to an order passed by the National Company Law Tribunal, Mumbai Bench on September 21, 2017, the erstwhile Divgi TorqTransfer Systems Private Limited amalgamated with the company i.e. Divgi Metalwares Private Limited and subsequently, the name of the company changed from “Divgi Metalwares Private Limited” to “Divgi TorqTransfer Systems Private Limited” and a fresh certificate of incorporation dated November 24, 2017 was issued by the RoC. The erstwhile Divgi TorqTransfer Systems Private Limited was a wholly owned subsidiary of the company i.e., Divgi Metalwares Private Limited. Thereafter, pursuant to a special resolution passed by its shareholders on October 18, 2021, the company was converted to a public limited company and its name was changed to “Divgi TorqTransfer Systems Limited”. A fresh certificate of incorporation dated March 10, 2022 consequent upon change of name was issued by the RoC.

The company was established in 1964 as a small-scale manufacturing enterprise specializing in the manufacturing of gears and screwed machined parts. Serial entrepreneurship combined with a robust foundation in gear technology and manufacturing enabled the founding members, Ramarao and Bhaskar Divgi to carve a niche for themselves in a daunting marketplace that was strife with uncertainty and complexities of that era.

The company has an in-house software development capability, which helps it in providing system level solutions offering software that controls the vehicle dynamics. It is also one of the first few suppliers of steel and carbon-based synchronizer systems for the Indian markets, and are one of the leading manufacturers of steel synchronizers in India. It has achieved leading positions for select products in its portfolio through focus on innovation; offering of customized solutions in distinctive products; in-house software development capability; and product development and production at quality standards acceptable to its clients and at optimized costs. It is in the process of launching domestically manufactured DCT systems for the Indian market. Therefore, it will be the only manufacturer of DCT systems in India. Very few component suppliers as well as OEMs globally have the capability to develop the system integration software solutions in-house.

The company has a diverse portfolio of products which includes mechanical as well as electrical 4×4 transfer cases, interactive torque couplers, dual & triple cone steel synchronizers, dual clutch automatic transmissions, 5 & 6 speed manual transmissions and single speed electric vehicle (EV) transmission.

Business area of the company

The company is one of the leading players supplying transfer case systems to automotive OEMs in India and the largest supplier of transfer case systems to passenger vehicle manufacturers in India. It is also the only player manufacturing and exporting transfer cases to global OEMs from India, and the only manufacturer of torque couplers in India. It also has the capability to develop and provide transmission systems for EVs.

Products of the company

Torque Transfer Systems

  • Mechanical Transfer Case
  • Electric Shift Transfer Case
  • Torque-on-Demand Transfer Case
  • Torque Coupler Transfer Case
  • Dual - offset Transfer Case
  • Dual - offset Transfer Case with bevel differential
  • Single - offset Transfer Case

Manual Transmission

Synchronizer Systems

Dual Clutch Transmission

Transmissions for Battery Electric Vehicles

Components

  • Ring Gear 
  • Sun Gear 
  • Assembly Hub & Clutch Disc
  • Lock Up Collar & Clutch Disc
  • Final Drive Gear
  • Flange
  • Shaft

Awards, accreditations or recognition

  • 2008: Innovation Award for ECU development by BorgWarner.
  • 2008: The BorgWarner Chairman’s Operational Excellence Award by BorgWarner Production System.
  • 2015: Best Eco Kaizen Award awarded by Toyota Kirloskar Motor.
  • 2017: 1st runner up at the National HR Competition Circle organized by Confederation of Indian Industry.
  • 2017: Zero Defect Supplies Award by Toyota Kirloskar Auto Parts.
  • 2018: Toyota Quality Award by Toyota Kirloskar Auto Parts.
  • 2018: 1st prize at the National HR Competition Circle organized by Confederation of Indian Industry.
  • 2019: Toyota’s Quality Circle Competition Award by Toyota Kirloskar Suppliers Association.
  • 2019: 1st prize at the National HR Competition Circle organized by Confederation of Indian Industry 177 Calendar Year Accreditations.
  • 2020: Zero Defect Supplies Award by Toyota Kirloskar Auto Parts.
  • 2020: Toyota Delivery Award by Toyota Kirloskar Auto Parts.
  • 2020: Toyota Quality Award by Toyota Kirloskar Auto Parts.
  • 2021: Special Appreciation Award by Mahindra Rise for transfer case for Thar.
  • 2021: Outstanding Development for Gears and Synchronizers’ certificate by Force Motors.
  • 2021: Zero Defect Supplies Award by Toyota Kirloskar Auto Parts.
  • 2021: Supplier of the Year Award by Toyota Kirloskar Auto Parts.
  • 2022: Platinum Award by Confederation of Indian Industry for the Best HR Practices in Developing Future Leaders for the MSME category.
  • 2022: Annual Commodity Award (Powertrain Proprietary - Automotive Division) by Mahindra Rise in recognition of superior performance.

History and milestones

  • 1995: Divgi Metalwares Private Limited entered into a formation agreement with BorgWarner. The agreement was in connection to the formation of a corporation, for the manufacturing and sale of transmission components, transfer cases and certain other components, manufactured by BorgWarner.
  • 2016: Exit of BorgWarner through buy out of shares by Divgi Metalwares Private Limited.
  • 2016: Entered into an investment agreement with NRJN Family Trust (represented by its corporate trustee, Entrust Family Office Legal and Trusteeship Services Private Limited).
  • 2017: Amalgamation of erstwhile, Divgi TorqTransfer Systems Private Limited and Divgi Metalwares Private Limited and the amalgamated entity was renamed as Divgi TorqTransfer Systems Private Limited.
  • 2018: Entered into share subscription agreement Oman India Joint Investment Fund II.
  • 2019: Awarded the Transfer case business from Russian automobile manufacturer.
  • 2019: Awarded the Transfer case business from Mahindra & Mahindra for the new generation Thar and Scorpio.
  • 2020: Awarded the planetary sun gear business from Toyota Kirloskar Auto Parts.
  • 2020: Awarded the NexTrac assembly business from Mahindra & Mahindra for XUV 700.
  • 2021: Awarded the Transfer case business from Chinese automobile manufacturer.
  • 2021: Awarded the EV transmission business from TACO (a JV between Tata Automotive Components and Prestolite Electric) for electronic vehicle motors.
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