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Tarsons Products Ltd (TARSONS)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543399 NSE: TARSONS Plastic Products | Small Cap | Tarsons Products Share Price

₹210.15 4.10 (1.99%)

As on 04-Jun'26 16:59

Tarsons Products Ltd (TARSONS)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543399 NSE: TARSONS Plastic Products | Small Cap | Tarsons Products Share Price

₹210.15 4.10 (1.99%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹1,118 Cr.
Current Price
₹210.2
52-Week Low / High
₹164 / 406
TTM EPS
₹4.3
TTM Sales
₹333 Cr.
Book Value per Share
₹127
P/E Ratio
49.35
Higher than its 5-year historical median
Industry PE
39
Price to Book (P/B)
1.66
Lower than its 5-year historical median
Price to Sales (P/S)
3.36
Lower than its 5-year historical median
EV/EBITDA
9.95
Lower than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
6.71%
Outperforms industry median
Return on Capital Employed (ROCE)
8.57%
In line with industry median
Return on Assets (ROA)
3.71%
Operating Profit Margin
33.5%
Net Profit Margin
13.6%
Gross Profit Margin
35.6%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
13.3%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
1.89%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
-16.62%
Asset Quality
Promoter Holding
47.30%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹665 Cr.
Equity
₹10.6 Cr.
Face Value
₹2
All Time Low / High
₹164.15 / 928.65

Tarsons Products stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is Tarsons Products Ltd a good quality company?
Tarsons Products Ltd is a average quality company, based on a somewhat consistent 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.

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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.

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How does Tarsons Products Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Tarsons Products Ltd vs industry peers?
Tarsons Products Ltd revenue CAGR is 12.30%, compared to the industry median CAGR of 4.71%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Tarsons Products Ltd?
Promoters hold 47.30% of the Tarsons Products Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Tarsons Products Ltd over the last decade?
Over the last 3 year(s), the stock has delivered a CAGR of -26.09% based on the current price.
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10 Year X-Ray : Login to view analysis.

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.
Tarsons Products Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation ⓘ

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % ⓘ0%0%0%31.6%27.4%37.2%35.3%19%10.2%8.6%-
Value Creation
Index ⓘ		NANANA1.31.01.71.50.4-0.3-0.4-

Growth Parameters ⓘ
Sales ⓘ000179176229301283277314333
Sales YoY Gr.-NANANA-1.6%30.1%31.4%-5.8%-2.1%13.3%-
Adj EPS ⓘ0007.57.413.218.414.48.96.84.3
YoY Gr.-NANANA-1.2%77.9%39.5%-21.8%-38.4%-23.2%-
BVPS (₹) ⓘ00026.637.34892.1107116.6122.6127
Adj Net
Profit ⓘ		00038.339.467.398.176.747.336.323
Cash Flow from Ops. ⓘ00051.364.268.283.575.6105110-
Debt/CF from Ops. ⓘ0001.30.60.50.31.52.42.1-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘNA12.3%1.5%13.3%
Adj EPS ⓘNA-1.7%-28.2%-23.2%
BVPSⓘNA26.9%10%5.2%
Share Price - - -28.7% -44.7%

Key Financial Parameters ⓘ

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity % ⓘ		00028.323.730.526.714.585.73.4
Op. Profit
Mgn % ⓘ		00040.138.945.150.845.737.333.633.1
Net Profit
Mgn % ⓘ		00021.422.429.432.627.117.111.66.8
Debt to
Equity ⓘ		0000.50.20.100.20.40.40.2
Working Cap
Days ⓘ		0000371343372543706617106
Cash Conv.
Cycle ⓘ		0000172127127187218192-9

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales179176229301283277314
Operating Expenses ⓘ + 107108126148154174209
Manufacturing Costs24232736313138
Material Costs51496263657389
Employee Cost 16202431343944
Other Costs ⓘ 16161218243138
Operating Profit ⓘ 7268103153129103105
Operating Profit Margin (%) 40.1%38.9%45.1%50.8%45.7%37.3%33.5%
Other Income ⓘ + 6568121424
Exceptional Items ⓘ 0000000
Interest ⓘ 763441018
Depreciation ⓘ 15141422293854
Profit Before Tax ⓘ 5653921351096958
Tax ⓘ 17132434281815
Profit After Tax 394169101815143
PAT Margin (%) 21.8%23.0%30.1%33.5%28.5%18.5%13.6%
Adjusted EPS (₹)7.77.713.518.915.29.68.0
Dividend Payout Ratio (%)0%0%0%0%0%20.80%0%

Valuation of Tarsons Products - Standalone

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

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 135198244490569620652
Share Capital ⓘ 00011111111
Reserves ⓘ 135197244479559610642
Debt +5525261081204182
Long Term Debt1963981102113
Short Term Debt3619231010269
Minority Interest0000000
Trade Payables266131089
Others Liabilities ⓘ 7993115160220292335
Total Liabilities ⓘ 2713213926738791,1251,179

Fixed Assets

Net Fixed Assets ⓘ +8992120189225252460
Gross Block104121163253316382643
Accumulated Depreciation1529426492130184
CWIP ⓘ 7192232119267233
Investments ⓘ 00000013
Inventories46494782114105103
Trade Receivables45384765667274
Cash Equivalents 12638660108
Others Assets ⓘ 8397152219295420288
Total Assets ⓘ 2713213926738791,1251,179

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity ⓘ + 5164688376105110
PBT ⓘ 5653921351096958
Adjustment ⓘ 21201624284771
Changes in Working Capital ⓘ -96-16-42-367-2
Tax Paid ⓘ -17-15-24-33-24-18-17
Cash Flow From Investing Activity ⓘ + -34-25-64-138-179-296-52
Capex -34-26-62-132-189-184-152
Net Investments 00-0-77-44
Others ⓘ 01-213-10896
Cash Flow From Financing Activity ⓘ + -18-14-2713085136-54
Net Proceeds from Shares ⓘ 000150000
Net Proceeds from Borrowing ⓘ -30-11-71090447
Interest Paid ⓘ -6-5-5-4-5-10-17
Dividend Paid ⓘ 000000-11
Others ⓘ 172-15-26-1102-33
Net Cash Flow ⓘ -025-2375-18-554

Financial Ratio

PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)28.824.3531.1727.4215.248.626.71
ROCE (%)31.5727.3537.2235.281910.198.57
Asset Turnover Ratio0.660.590.640.560.360.280.27
PAT to CFO Conversion(x)1.311.560.990.820.942.062.56
Working Capital Days
Receivable Days91.1085.906868.1084.4090.5084.50
Inventory Days94.8098.7076.1078.30126.80144.60120.80
Payable Days14.5029.7035.3054.9063.4045.4035.40

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 (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Tarsons Products Ltd FAQs

The current trading price of Tarsons Products on 04-Jun-2026 16:59 is ₹210.2.

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 03-Jun-2026 the market cap of Tarsons Products stood at ₹1,118.1 Cr

The latest P/E ratio of Tarsons Products as of 03-Jun-2026 is 49.35.

The latest P/B ratio of Tarsons Products as of 03-Jun-2026 is 1.66.

The 52-week high of Tarsons Products is ₹405.9 and the 52-week low is ₹164.2.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Tarsons Products is ₹333 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Tarsons Products Ltd is a average quality company.

The key valuation ratios of Tarsons Products Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

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

About Tarsons Products Ltd

Tarsons Products is an Indian labware company engaged in the designing, development, manufacturing and marketing of ‘consumables’, ‘reusables’ and ‘others’ including benchtop equipment, used in various laboratories across research organizations, academia institutes, pharmaceutical companies, Contract Research Organizations (CROs), Diagnostic companies and hospitals.  It manufactures a range of quality labware products which helps advance scientific discovery and improve healthcare. The company’s product portfolio is classified into three key categories which include consumables, reusables, and others. ‘Consumables’ category includes products such as centrifuge ware, cryogenic ware, liquid handling, PCR consumables and petri dish, transfer pipettes and others. ‘Reusables’ category includes products such as bottles, carboys, beakers, measuring cylinders and tube racks. ‘Others’ category includes benchtop instrumentation such as vortex shakers, centrifuges pipettors and others.

The company caters to a diverse range of end customers across various sectors which include research organizations, academic institutions, pharmaceutical companies, CROs, diagnostic companies, and hospitals. Some of its end customers include customers such as Indian Institute of Chemical Technology, National Centre for Biological Sciences across academic institutes and research organizations; Dr Reddy's Laboratories, Enzene Biosciences across pharmaceutical sectors; Syngene International, Veeda Clinical Research across CROs; and Molbio Diagnostics, Agappe Diagnostic, Metropolis Healthcare, Dr. Lal Path Labs, Mylab Life Solutions across other sectors such as diagnostics. It distributes its products to these end customers on a pan-India basis through its authorised distributors. It has long-standing relationships with its end customers as well as distributors, which it has achieved by aligning its offerings with their business needs and through the support of an on-ground sales and marketing team.

Business area of the company

The company presently manufactures disposable plastic labware, centrifuge ware, cryo labware, liquid handling system and instruments.

Major events and milestones

  • 1983: Incorporation of the Company with manufacturing of reusable plastic products.
  • 1984: Commenced production of pipette tips.
  • 1987: Commenced production of CFT.
  • 2002: Pioneered the first fully robotic clean room plant for manufacturing of molecular biology consumables.
  • 2009: Obtained ISO 9001:2015 certificate for manufacturing facility.
  • 2012: Set up manufacturing facility expanding into production of fully automatic centrifuge tubes, and cryogenic vials in Dhulagarh.
  • 2018: Obtained ISO 13485:2016/NS-EN ISO 13485:2016 certificate for manufacturing facility.
  • 2018: Clear Vision Investment Holdings acquired 49% equity shareholding in the Company.
  • 2019: Set up line for PCR products in Jalan Industrial Complex at Jangalpur.
  • 2020: Received CE-IVD certification for products.
  • 2019-2021: Acquired 5 acres land to develop a facility for increase in production in Panchla.
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