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Tulsyan NEC Ltd (TULSYAN)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 513629 NSE: TULSYAN Steel & Iron Products | Small Cap | Tulsyan NEC Share Price
₹33.44 0.00 (0.00%)
As on 14-Oct'26 16:59
Tulsyan NEC Ltd (TULSYAN)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 513629 NSE: TULSYAN Steel & Iron Products | Small Cap | Tulsyan NEC Share Price
₹33.44 0.00 (0.00%)
As on 14-Oct'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹51 Cr.
Current Price
₹33.4
52-Week Low / High
₹17 / 49
TTM EPS
₹-45.9
TTM Sales
₹697 Cr.
Book Value per Share
₹99.7
P/E Ratio
0.00
Lower than its 5-year historical median
Industry PE
23.8
Price to Book (P/B)
0.31
Higher than its 5-year historical median
Price to Sales (P/S)
0.07
Lower than its 5-year historical median
EV/EBITDA
19.26
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
-29.56%
Underperforms industry median
Return on Capital Employed (ROCE)
1.57%
Underperforms industry median
Return on Assets (ROA)
-8.43%
Operating Profit Margin
1.6%
Net Profit Margin
-7.97%
Gross Profit Margin
-5.2%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-16.59%
Operating Profit Growth (1 Year)
-
-102.41%
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
64.20%
Pledged shares (%) of Promoter's holding (%)
99.63%
Reserves
₹148 Cr.
Equity
₹16.5 Cr.
Face Value
₹10
All Time Low / High
₹4.00 / 142.90
Check Before You Invest
M-Cap below 100cr DeciZen not available
Is Tulsyan NEC Ltd a good quality company?
Tulsyan NEC 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 Tulsyan NEC Ltd performance compare with that of its Peers?
Revenue growth of Tulsyan NEC Ltd vs industry peers?
Tulsyan NEC Ltd revenue CAGR is 2.97%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Tulsyan NEC Ltd?
Promoters hold 64.20% of the Tulsyan NEC Ltd, with 99.63% of their stake pledged, indicating high pledge risk.
Stock return of Tulsyan NEC Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 8.4% 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.
Tulsyan NEC 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'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 6.9% | 1% | -1.7% | 0.5% | -0.2% | 23% | 97.4% | 26% | -1.3% | -1.3% | - |
| Value Creation Index ⓘ | -0.5 | NA | NA | NA | NA | NA | 6.0 | 0.9 | -1.1 | -1.1 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 846 | 539 | 710 | 843 | 736 | 567 | 752 | 950 | 956 | 797 | 635 |
| Sales YoY Gr. | - | -36.2% | 31.7% | 18.7% | -12.7% | -23% | 32.8% | 26.3% | 0.6% | -16.6% | - |
| Adj EPS ⓘ | -19.6 | -57 | -99.9 | -147.8 | -150.2 | -97.9 | 151.2 | 60 | -37.3 | -45 | -51.2 |
| YoY Gr. | - | NA | NA | NA | NA | NA | NA | -60.3% | -162.2% | NA | - |
| BVPS (₹) ⓘ | 58.3 | -6.3 | -113 | -263.6 | -417.4 | -424.2 | 112.3 | 253.6 | 222 | 166 | 108.2 |
| Adj Net Profit ⓘ | -29.3 | -85.4 | -150 | -222 | -225 | -147 | 227 | 100 | -62.2 | -74.1 | -84 |
| Cash Flow from Ops. ⓘ | 97.2 | 18.7 | 147 | 75.8 | 39.2 | 232 | 860 | 336 | 11.2 | 35.5 | - |
| Debt/CF from Ops. ⓘ | 8.2 | 58.9 | 8 | 17.3 | 37 | 6.4 | 0.7 | 1.1 | 28.1 | 9.9 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -0.7% | 1.6% | 2% | -16.6% | ||||
| Adj EPS ⓘ | NA | NA | -166.8% | NA | ||||
| BVPSⓘ | 12.3% | NA | 13.9% | -25.2% | ||||
| Share Price | 8.4% | 21.4% | -30.3% | -16.4% | ||||
Key Financial Parameters ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -27 | -199.5 | 171.8 | 80.1 | 45 | 23.7 | -98.8 | 34.2 | -15.8 | -23.1 | -37.4 |
| Op. Profit Mgn % ⓘ | 8.6 | 6.7 | 1.8 | 3.2 | 3.1 | 3.6 | 1.8 | 1.5 | -0.4 | 1.3 | -3.1 |
| Net Profit Mgn % ⓘ | -3.5 | -15.9 | -21.1 | -26.3 | -30.6 | -25.9 | 30.2 | 10.5 | -6.5 | -9.3 | -13.3 |
| Debt to Equity ⓘ | 8.4 | -118.3 | -7 | -3.4 | -2.4 | -2.4 | 3.7 | 0.9 | 0.9 | 1.3 | - |
| Working Cap Days ⓘ | 266 | 329 | 215 | 177 | 189 | 214 | 138 | 98 | 88 | 101 | 49 |
| Cash Conv. Cycle ⓘ | 75 | 146 | 129 | 117 | 129 | 156 | 102 | 56 | 32 | 23 | -20 |
Valuation of Tulsyan NEC - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 8.47 | 8.47 | 98.40 | 99.63 | 99.63 | 0.00 | 99.63 | 99.63 | 99.63 | 99.63 |
* 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 | 533.61 | 705.40 | 836.85 | 750.29 | 622.31 | 849.92 | 1,021.68 | 977 | 868.32 | 807.55 |
| Operating Expenses ⓘ + | 502 | 694.92 | 804.57 | 720.26 | 598.37 | 832.65 | 1,006.73 | 976.80 | 854.63 | 807.88 |
| Operating Profit ⓘ | 31.62 | 10.49 | 32.28 | 30.03 | 23.94 | 17.27 | 14.96 | 0.20 | 13.69 | -0.33 |
| Operating Profit Margin (%) | 5.9% | 1.5% | 3.9% | 4.0% | 3.8% | 2.0% | 1.5% | 0.0% | 1.6% | -0.0% |
| Other Income ⓘ + | 2.27 | 6.74 | 8.29 | 2.23 | 1.89 | 1.46 | 3.80 | 19.31 | 3.66 | 32.20 |
| Interest ⓘ | 122.04 | 142.21 | 230.09 | 227.09 | 205.90 | 7.30 | 14.40 | 41.75 | 66.97 | 73.89 |
| Depreciation ⓘ | 25.11 | 26.12 | 25.30 | 25.56 | 25.12 | 24.65 | 26.43 | 25.43 | 22.94 | 22.31 |
| Profit Before Tax ⓘ | -116.34 | -162.56 | -217.32 | -220.39 | -8.26 | 791.16 | 188.80 | -47.67 | -72.56 | -64.33 |
| Tax ⓘ | -22.19 | -1.44 | 2.13 | -1.18 | 3.30 | 0.29 | -56.95 | 1.45 | 0 | 0 |
| Profit After Tax | -94.15 | -161.12 | -219.45 | -219.21 | -11.56 | 790.87 | 245.75 | -49.11 | -72.56 | -64.33 |
| PAT Margin (%) | -17.6% | -22.8% | -26.2% | -29.2% | -1.9% | 93.1% | 24.1% | -5.0% | -8.4% | -8.0% |
| Adjusted EPS (₹) | -64.0 | -109.0 | -149.0 | -149.0 | -7.9 | 537.5 | 148.5 | -29.7 | -44.1 | -39.1 |
| 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 + | -36.82 | -197.18 | -416.43 | -634.17 | -646.55 | 143.46 | 395.10 | 343.75 | 249.79 | 185.53 | |
| Debt + | 966.74 | 905.45 | 1,028.60 | 1,176.73 | 1,202.14 | 337.45 | 327.78 | 307.82 | 317.36 | 406.19 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 101.42 | 117.21 | 97.42 | 94.25 | 37.56 | 62.82 | 91.08 | 124.48 | 159.82 | 135.57 | |
| Others Liabilities ⓘ | 178.80 | 344.80 | 395.66 | 423.79 | 380.37 | 390.53 | 54.02 | 14.60 | 58.60 | 13.04 | |
| Total Liabilities ⓘ | 1,210.14 | 1,170.28 | 1,105.25 | 1,060.60 | 973.52 | 934.26 | 867.98 | 790.65 | 785.58 | 740.33 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 745.34 | 725.73 | 702.25 | 680.48 | 656.33 | 635.28 | 572.91 | 549.59 | 528.97 | 509.31 | |
| CWIP ⓘ | 0.94 | 0 | 0 | 0 | 0 | 0 | 0 | 2.37 | 7.09 | 0.12 | |
| Investments ⓘ | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.03 | 0.05 | 0.35 | 0.37 | |
| Inventories | 137.66 | 97.21 | 102.31 | 101.12 | 93.59 | 83.10 | 102.16 | 81.49 | 73.32 | 59.60 | |
| Trade Receivables | 206.72 | 272.29 | 245.89 | 235.98 | 167.73 | 156.45 | 102.29 | 106.31 | 102.33 | 97.20 | |
| Cash Equivalents | 16.21 | 8.88 | 3.52 | 4 | 9.13 | 6.83 | 12.80 | 1.23 | 0.34 | 1.43 | |
| Others Assets ⓘ | 103.26 | 66.16 | 51.28 | 39.02 | 46.73 | 52.58 | 77.79 | 49.61 | 73.18 | 72.30 | |
| Total Assets ⓘ | 1,210.14 | 1,170.28 | 1,105.25 | 1,060.60 | 973.52 | 934.26 | 867.98 | 790.65 | 785.58 | 740.33 | |
| 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 ⓘ + | 8.77 | 148.97 | 108.99 | 41.41 | 234.91 | 863.74 | 340.43 | 15.30 | 39.05 | 2.73 |
| Cash Flow From Investing Activity ⓘ + | -12.98 | 8.45 | 4.59 | -4.49 | -2.82 | -4.59 | -0.16 | 52.85 | -10.17 | 38.33 |
| Cash Flow From Financing Activity ⓘ + | 6.35 | -208.91 | -117.99 | -37.41 | -228.97 | -862.46 | -330.30 | -79.65 | -29.79 | -39.97 |
| Net Cash Flow ⓘ | 2.14 | -51.49 | -4.41 | -0.50 | 3.12 | -3.30 | 9.97 | -11.50 | -0.92 | 1.09 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | N/A | N/A | N/A | N/A | N/A | 0 | 91.26 | -13.29 | -24.45 | -29.56 |
| ROCE (%) | N/A | N/A | N/A | N/A | N/A | 97.95 | 26.15 | -0.81 | -0.86 | 1.57 |
| Asset Turnover Ratio | 0.46 | 0.61 | 0.74 | 0.69 | 0.61 | 0.89 | 1.13 | 1.18 | 1.1 | 1.06 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | N/A | N/A | 1.09 | 1.39 | N/A | N/A | N/A |
| Working Capital Days | ||||||||||
| Receivable Days | 170.30 | 121.30 | 113 | 117.20 | 118.40 | 69.60 | 46.20 | 39 | 43.90 | 45.10 |
| Inventory Days | 87.70 | 59.50 | 43.50 | 49.50 | 57.10 | 37.90 | 33.10 | 34.30 | 32.50 | 30 |
| Payable Days | 157.20 | 77.50 | 64.60 | 63.60 | 54.60 | 27.70 | 35.10 | 49.30 | 78 | 85.20 |
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Tulsyan NEC Ltd FAQs
The current trading price of Tulsyan NEC on 14-Oct-2026 16:59 is ₹33.44.
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 13-Oct-2026 the market cap of Tulsyan NEC stood at ₹50.54 Cr
The latest P/E ratio of Tulsyan NEC as of 13-Oct-2026 is 0.00.
The latest P/B ratio of Tulsyan NEC as of 13-Oct-2026 is 0.28.
The 52-week high of Tulsyan NEC is ₹49.35 and the 52-week low is ₹17.10.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Tulsyan NEC is ₹635 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Tulsyan NEC Ltd is a average quality company.
The key valuation ratios of Tulsyan NEC 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 Weak which suggest that the price of Tulsyan NEC Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Tulsyan NEC Ltd
Tulsyan NEC Limited (TULSYAN) was incorporated in 1955, the company earlier known as National Engineering Company. The company office is located at 61, Sembudoss Street, Chennai, Tamil Nadu-600001 .The company is a diversified company with business interests in steel and plastic packaging material. Manufacturing facilities are spread across Goa, Karnataka and Tamil Nadu.
Business Profile:
The company manufactures thermo mechanically treated (TMT) bars, billets and ingots in the steel division and polypropylene woven sacks, flexible intermediate bulk containers and woven fabric in the synthetic division. The steel products are used in the construction sector and the plastic products cater to the packaging needs of the cement, fertilizers, food grains, sugar, and other sectors. It is having a total combined capacity of 84,000 MTPA steel products; 222,000 MTPA MS pipes, billets, rounds, wires and other rolled products; 36,000 MTPA mild steel ingots; and 17,541 MTPA high density polyethylene and polypropylene woven fabric and sacks. The company has enhanced its customer base and caters to the markets in Gujarat, Maharashtra, Tamil Nadu, Andhra Pradesh, Goa, Kerala and Karnataka
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