Teamtech Formwork SolutionsShare price, financial results, shareholding and management
- Market cap
- ₹508 cr
- Stock P/E
- 42.3peers 10.2
- Book value
- ₹11
- Price to book
- 15.40
- EV / operating profit
- -
- Market cap to sales
- 9.58
- ROCE · FY26
- 41.0%
- ROE · FY26
- 43.6%
- ROE, 3-year average
- 54.7%
- Operating margin · FY26
- 33.0%peers 13.8%
- Sales growth, 3 years
- 38.4%
- Profit growth, 3 years
- 58.7%
- Debt to equity
- 0.52peers 0.38
- Borrowings
- ₹17 cr
- Interest cover
- 17.0×
- Cash from business / op. profit
- 17%
- Debtor days
- 204
- Pledged
- 0.00%
- Promoter holding
- 59.67%
- Change in promoter holding
- -
- Shareholders
- 880
- High / low since listing
- ₹179 / ₹68
- Dividend yield
- 0.00%
- Face value
- ₹5
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Teamtech Formwork Solutions share price chart
Close on 6 Nov 2026 · +5.74% on the day · Vol 27,000
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- +15.8%
- 3 months
- +46.3%
- Since IPO
- +169.0%
- Traded a day, 20 days
- ₹0.85 cr
- Taken for delivery
- 85%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +61% | +50% |
| 3 years, a year | +38% | +59% |
About Teamtech Formwork Solutions: business, products and customers
Teamtech Formwork Solutions makes reusable steel and plywood panels that hold wet concrete in shape on building sites, and sells, rents and repairs them for builders of bridges, dams, roads and towers. Its shares trade on NSE Emerge.
Teamtech Formwork Solutions began as a partnership in Hyderabad in 2017 and became a company in 2018. It makes modular T formwork panels, the moulds that hold concrete for walls, foundations, tanks, shafts and bridge piers until it sets, at a plant at IDA Bollaram in Telangana. Most sales come from new panels and accessories; the rest comes from renting panels for the length of a project and refurbishing used ones.
Customers are construction contractors, mostly on large infrastructure jobs. The company names Larsen & Toubro, Shapoorji Pallonji, Tata Projects and Patel Engineering among them, and lists work on the Mumbai to Ahmedabad high speed rail line, the Subansiri hydropower project and the Delhi to Mumbai Expressway. In FY26 about a quarter of sales were billed to the United Arab Emirates, and a promoter group company there was the second largest customer.
Read more about the business
What is new: the shares listed on NSE Emerge in May 2026. The company is building a larger plant in Kondapur on land allotted by the Telangana industrial corporation, buying machinery for it with issue money, and has bought land near Hyderabad airport for a further plant. It plans to move its Gulf business into its own subsidiary in the United Arab Emirates.
From the red herring prospectus (May 2026) and the July 2026 investor presentation.
Read the deeper study ↓In its favour
- Sales have grown fast: 38% a year over three years.
- It earns a high return on the money it uses: ROCE 41% in FY26.
To watch
- Collection of the ₹29.8 cr owed by customers at March 2026, including ₹9.7 cr from the promoter group company in the UAE (Red herring prospectus, p.31 and p.26).
- The move of the Gulf business from Teamtech Formwork Solutions (F.Z.C) to a planned UAE subsidiary; the promoters say the F.Z.C licence, valid to 18 December 2026, will not be renewed (Red herring prospectus, p.29 and p.30).
- Machinery for the new Kondapur unit, ₹11.9 cr of issue money planned for FY27 (Red herring prospectus, p.86 and p.88).
- FY27 revenue against the ₹94.6 cr the company projected in July 2026 (Investor presentation, July 2026, p.12).
- Customers take longer to pay than before: 204 days in FY26, against 69 in FY22.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Teamtech Formwork Solutions revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew more slowly than sales, so the profit kept from each rupee of sales slipped.
Teamtech Formwork Solutions profit and loss
Full years to March, FY22 to FY26 · ₹ crore, consolidated where reported
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Sales | 12 | 20 | 30 | 33 | 53 |
| Expenses | 10 | 16 | 21 | 23 | 36 |
| Operating profit | 2 | 4 | 9 | 9 | 18 |
| OPM | 15.0% | 21.0% | 30.0% | 28.0% | 33.0% |
| Other income | 0 | 0 | 0 | 0 | 1 |
| Interest | 0 | 0 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 1 | 1 | 1 |
| Exceptional and other items | -1 | -1 | 1 | 1 | -1 |
| Profit before tax | 1 | 3 | 8 | 8 | 16 |
| Tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 25.0% |
| Net profit | 1 | 3 | 8 | 8 | 12 |
| EPS ₹ | 2.97 | 11.52 | 30.04 | 30.62 | 5.26 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
Teamtech Formwork Solutions profitability
Margins and returns on capitalLast year the company kept more from each rupee of sales than the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Operating margin | 15.0% | 21.0% | 30.0% | 28.0% | 33.0% |
| Tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 25.0% |
| ROCE | · | 35.3% | 64.3% | 35.3% | 41.0% |
| ROE | · | 54.5% | 76.2% | 44.4% | 43.6% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Teamtech Formwork Solutions debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It borrowed much more last year. Its loans are smaller than its own money. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Teamtech Formwork Solutions balance sheet
At each 31 March · ₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Equity capital | 3 | 3 | 3 | 3 | 11 |
| Reserves | 1 | 4 | 11 | 19 | 22 |
| Net worth | 4 | 7 | 14 | 22 | 33 |
| Borrowings | 3 | 3 | 4 | 11 | 17 |
| Other liabilities | 2 | 3 | 7 | 7 | 17 |
| Total liabilities | 9 | 13 | 25 | 40 | 67 |
| Fixed assets | 5 | 6 | 9 | 19 | 19 |
| Capital work in progress | 0 | 0 | 0 | 2 | 8 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| Other assets | 4 | 7 | 16 | 19 | 40 |
Teamtech Formwork Solutions cash flow
₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | 1 | 0 | 4 | 6 | 3 |
| Cash from investing | -1 | 0 | -3 | -12 | -7 |
| Cash from financing | -1 | 0 | 0 | 7 | 5 |
| Net cash flow | -1 | 0 | 1 | 1 | 1 |
Working capital
Days
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Debtor days | 69 | 36 | 92 | 82 | 204 |
| Inventory days | 40 | 69 | 119 | 184 | 63 |
| Days payable | 82 | 34 | 88 | 101 | 147 |
| Cash conversion cycle | 26 | 71 | 123 | 165 | 121 |
| Working capital days | -20 | 12 | 50 | -7 | 92 |
Teamtech Formwork Solutions peers and competitors
Listed SME companies in the same industryBy sales, Teamtech Formwork Solutions is number 4 of the 5 listed SME companies in other construction materials.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Vishnusurya Projects and Infra | 363 | 10.2 | 352 | 35.6 | 16.0% | 0.28 |
| Om Galaxy | 305 | 17.9 | 124 | 17 | 26.0% | 0.47 |
| Mcon Rasayan India | 30 | 9.7 | 65.2 | 3 | 11.7% | 0.50 |
| Teamtech Formwork Solutions | 508 | 42.3 | 53 | 12 | 33.0% | 0.52 |
| Shiva Granito Export | 20 | - | 11.7 | -0.1 | 5.9% | 0.17 |
| Median of the 4 others | 168 | 10.2 | 94.6 | 10 | 13.8% | 0.38 |
Teamtech Formwork Solutions shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Foreign and Indian funds own a noticeable share.
Teamtech Formwork Solutions shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| May 26 | |
|---|---|
| Promoters | 59.67% |
| Foreign investors (FIIs) | 2.63% |
| Indian institutions (DIIs) | 9.97% |
| Number of shareholders | 880 |
The named holders are at 25 May 2026, each under the group the pattern files them in.
Teamtech Formwork Solutions study: the business from its own documents
Read from 3 of the company's own documentsTeamtech Formwork Solutions so far
From the company's own record
- November 2018Company formed
- 26 May 2026Listed on NSE Emerge at ₹63
- 31 May 2026Promoters at 59.67%
- 6 Nov 2026Highest close since listing, ₹169.45
Teamtech Formwork Solutions key facts from the filings
Each figure with the document it comes from
- Plant capacity
- 36,000 sq m
- Panels a year the present plant can make; laser cutting ran at 94.67% of its capacity in FY26.Red herring prospectus, p.88
- New plant machinery
- ₹11.9 cr
- Issue money for machinery at the new Kondapur unit, meant to add about 67,392 sq m of yearly capacity.Red herring prospectus, p.85 and p.88
- Rental income
- ₹12.2 cr
- FY26 income from renting out panels, 22.71% of sales; new panels and accessories gave 75.76%.Red herring prospectus, p.121
- Top five customers
- 72.65%
- Share of FY26 sales from the five largest customers; the largest alone gave 30.42%.Red herring prospectus, p.29
- Sales to the UAE
- 25.15%
- Share of FY26 sales billed to the United Arab Emirates, up from nothing a year earlier.Red herring prospectus, p.121
Show 5 more facts
- Owed by promoter group firm
- ₹9.7 cr
- Due at March 2026 from Teamtech Formwork Solutions (F.Z.C), owned by two promoters and the second largest customer in FY26.Red herring prospectus, p.26, p.29 and p.214
- Money owed by customers
- ₹29.8 cr
- Trade receivables at March 2026, up from ₹7.4 cr a year earlier.Red herring prospectus, p.31
- Panel reuse
- About 200 times
- How often the company says a steel panel can be reused, against six to ten times for timber.Investor presentation, July 2026, p.5
- Loans
- Nil
- The company said in July 2026 it had no loans; the offer document set aside ₹15.5 cr of issue money to repay borrowings.Investor presentation, July 2026, p.13; Red herring prospectus, p.86
- Standard panels
- 65.60%
- Share of FY26 product sales from standard panels; accessories such as key locks and props gave most of the rest.Red herring prospectus, p.121
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company does not state an order book. In its July 2026 investor presentation it projected revenue of ₹94.6 cr for FY27 and ₹140.0 cr for FY28, said first quarter FY27 revenue was about ₹18 cr, and said it expected exports to be about 6% of FY27 revenue. It plans to raise yearly capacity from about 36,000 sq m to about 1,04,000 sq m through the new unit and a later plant, and to enter Africa and Saudi Arabia. The offer document says the issue money is to be spent in FY27.
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Teamtech Formwork Solutions earns its money making, renting and repairing steel moulds for concrete on large building jobs, and has kept wide margins on that work.
Its weak spots are a few big customers, a large part of sales going through a company owned by its promoters, and a fast rise in money owed by customers.
AverageCan it set its own prices?Margins have stayed wide for three years, but steel and plywood prices move and the company says it may not always pass them on.
AverageHow strong is it against rivals?It designs panels in house and makes them in India, which it says makes it quicker and more flexible than imported systems, but it is a small player against many rivals.
WatchWho are its customers?A few large contractors give most sales, and in FY26 the second largest buyer was a company owned by two of its promoters.
WatchDoes it need a lot of money?Yes. It must build panels before it can rent them, it is building a new plant, and customers have been slow to pay.
AverageCan it keep finding new work?It has worked on well-known national projects and says repeat orders and referrals bring most work, but its largest customers change a lot from year to year.
WatchDo good and bad years swing a lot?Yes. Building work slows in the monsoon, and sales depend on a few big projects, so growth has been uneven.
Who runs Teamtech Formwork Solutions?
Promoters, directors and officers; tap a name for the background
EVEldo VarghesePromoter, Chairman and Managing Director · holds 25.25%
Over 25 years in finance and administration. With the company since 2018; earlier General Manager of a company from 2008 to 2018 (named in the July 2026 presentation as Paschal Formwork (India) Private Limited), and a finance and administration manager with duties across India, Bahrain, the UAE and South Africa. Holds an MBA, CMA (USA), M.Com, B.Com and a diploma in management, and is studying for a DBA. FY26 pay was ₹0.79 cr.
Red herring prospectus, p.196, p.198 and p.200; Investor presentation, July 2026, p.11SKSalinraj KunnummalPromoter and Non-Executive Director · holds 25.25%
A mechanical engineer with over 30 years in formwork design and fabrication. Technical Manager at a formwork company in Bahrain from 1998 to 2020 (Paschal Concrete Forms, per the July 2026 presentation) and earlier a maintenance engineer in Kerala. Managing Director of Gulf Equipment Hiring W.L.L., an equipment rental business in Bahrain, and with Eldo Varghese an owner of Teamtech Formwork Solutions (F.Z.C). FY26 pay was ₹0.50 cr.
Red herring prospectus, p.197, p.198, p.214 and p.26; Investor presentation, July 2026, p.11CPChaitanya Prakash KotagiriPromoter and Whole-Time Director · holds 8.03%
Holds a degree in mechanical engineering and a postgraduate diploma in banking operations. A partner in TeamTech Engineering from August 2017 and with the company since it was formed; oversees operations, production and process coordination. The July 2026 presentation lists earlier roles as production manager and plant head at Paschal Formwork (India) and a branch operations officer at ICICI Bank.
Red herring prospectus, p.196 and p.198; Investor presentation, July 2026, p.11BGBinu GeorgeChief Financial Officer
Holds a B.Com and an MBA, with over 20 years in finance and accounts. Chief Financial Officer since November 2025, responsible for pricing, cost control and finance.
Red herring prospectus, p.206SASwati AdlakhaIndependent Director
A member of the Institute of Company Secretaries of India with a BBA and M.Com, entitled to practise as a company secretary since May 2020. On the board since January 2026.
Red herring prospectus, p.196 and p.198KSKanak Singh ChoudharyIndependent Director
A member of the Institute of Company Secretaries of India with a B.Com and LL.B., working as a company secretary since November 2017 in corporate law and compliance. On the board since January 2026.
Red herring prospectus, p.196 and p.198Teamtech Formwork Solutions latest news and announcements
Announcements · Documents · Corporate actionsTeamtech Formwork Solutions announcements
19 on record, latest first; each opens the filing on the exchange
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- Shareholders meetingSrutinizers report of Annual General Meeting held on September 28, 2026. Further, the company has informed the Exchange regarding voting resultsPDF ↗
- Shareholders meetingProceedings of Annual General Meeting held on September 28, 2026PDF ↗
- Shareholders meetingProceedings of 08th Annual General Meeting held on September 28, 2026PDF ↗
- Copy of Newspaper PublicationPublished in the Business Standard (English Language edition) and the Mana Telangana (Telugu language edition), regarding Notice of 8th Annual General Meeting, PDF ↗
- Shareholders meeting8th Annual General Meeting to be held on Monday, 28th September, 2026PDF ↗
- Outcome of Board MeetingIntimation of Revised Outcome of Board Meeting of TeamTech Formwork Solutions Limited held on 29th August, 2026 Clarification on Inadvertent Clerical ErrorPDF ↗
- Outcome of Board MeetingHeld on August 29, 2026PDF ↗
- Copy of Newspaper PublicationCopy of Newspaper PublicationPDF ↗
- Updates'Publication of News Paper article' in Business Standard (English Version) dated 28th August, 2026 under Regulation 30 of the SEBI (Listing Obligations and DPDF ↗
- General UpdatesGeneral UpdatesPDF ↗
- Investor PresentationInvestor PresentationPDF ↗
Teamtech Formwork Solutions annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 31 July 2026 ↗read
Teamtech Formwork Solutions share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Teamtech Formwork Solutions' data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- iThe shares traded on only 97 days in the past year, so the price, its range and the returns here rest on few trades.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (2,99,76,000 shares).
- !The FY26 results imply 2,20,00,000 shares at face value ₹5, which disagrees with the shareholding pattern; the pattern is used.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- !Earnings per share changes basis between FY25 (₹30.62) and FY26 (₹5.26) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY22 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Teamtech Formwork Solutions
What does Teamtech Formwork Solutions do?
Teamtech Formwork Solutions makes reusable steel and plywood panels that hold wet concrete in shape on building sites, and sells, rents and repairs them for builders of bridges, dams, roads and towers. Its shares trade on NSE Emerge.
What is the share price of Teamtech Formwork Solutions?
₹169 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Teamtech Formwork Solutions?
₹508 cr at the close on 6 Nov 2026, on 2,99,76,000 shares.
What is the P/E of Teamtech Formwork Solutions?
42.3 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Teamtech Formwork Solutions' revenue and profit?
Revenue ₹53 cr and profit after tax ₹12 cr in FY26.
Who are the promoters of Teamtech Formwork Solutions?
Eldo Varghese, Salinraj Kunnummal, Chaitanya Prakash Kotagiri; promoters held 59.67% at 31 May 2026.
What was the IPO price of Teamtech Formwork Solutions?
₹63 a share; it listed on 26 May 2026.
What is Teamtech Formwork Solutions' website?
www.teamtechengg.com
More SME companies like Teamtech Formwork Solutions
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Every listed SME company in Other Construction Materials → · SME companies listed in 2026 →
Built from 1 offer document, 1 investor presentation, 1 annual report, 19 exchange announcements, 1 shareholding patterns and 5 years of reported results. Every figure carries its source; where the documents are silent, the page says so.