Tipco Engineering IndiaShare price, financial results, shareholding and management
- Market cap
- ₹597 cr
- Stock P/E
- 23.6peers 26.9
- Book value
- ₹48.6
- Price to book
- 5.92
- EV / operating profit
- -
- Market cap to sales
- 4.11
- ROCE · FY26
- 36.1%
- ROE · FY26
- 37.8%
- ROE, 3-year average
- 70.3%
- Operating margin · FY26
- 26.2%peers 16.0%
- Sales growth, 3 years
- 59.2%
- Profit growth, 3 years
- 103.6%
- Debt to equity
- 0.41peers 0.34
- Borrowings
- ₹41 cr
- Interest cover
- 6.7×
- Cash from business / op. profit
- 8%
- Debtor days
- 169
- Pledged
- 0.00%
- Promoter holding
- 57.79%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 472
- 52-week high / low
- ₹337 / ₹77
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Tipco Engineering India share price chart
Close on 6 Nov 2026 · +4.95% on the day · Vol 1.14 L
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
- -8.0%
- 3 months
- +66.8%
- 6 months
- +96.0%
- Traded a day, 20 days
- ₹1.96 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +9% | +69% |
| 3 years, a year | +59% | +104% |
| Latest half, H2 FY26 | +67% | +139% |
About Tipco Engineering India: business, products and customers
Tipco Engineering India makes mixing, grinding and dispersing machines for paint, ink, chemical and other factories, and also designs and sets up whole production lines for them. It is based in Sonipat, Haryana, and its shares trade on BSE SME.
Tipco Engineering India was set up in 2021 by Ritesh Sharma and Sonia Sharma and builds bead mills, basket and attritor mills, high-speed dispersers, homogenisers and mixers at one plant in Sonipat. Paint and coatings makers are the largest buyers, followed by construction chemicals, cement, metal, chemical and printing businesses; customers named by the company include Sirca Paints, UltraTech, JK Cement, Berger and MBT. More and more of the work is turnkey: the company designs the plant, supplies its own machines and third-party equipment such as chillers, pumps and filling lines, adds SCADA automation and commissions the line.
The business model shapes the numbers. Steel, motors and gearboxes, plus bought-in equipment on turnkey jobs, are most of the cost, so margins depend on how much design and engineering is sold with each order; material cost fell sharply as a share of sales in FY26 and margins rose with it. Large projects are billed when they reach milestones, which bunched most of FY26 sales into the second half and left a large amount unpaid at the year end, so cash from operations was far below profit.
Read more about the business
On the May 2026 call the managing director named GMM Pfaudler and Praj Industries as listed Indian makers of process equipment, along with Raj Process and the international firms Bühler and NETZSCH, while saying GMM Pfaudler is much larger and makes glass reactors that Tipco does not. The company says it prices above local machine makers and below European ones. The offer document also notes that three promoter group firms, Tipco Engineering Works, Ritesh Engineers and Hanutech Engineering Solutions, are in the same line of business, which may create a conflict of interest.
What is new: a technology collaboration with LexaMix of Germany, under which Tipco makes and installs LexaMix-brand equipment in India for cosmetics, pharmaceuticals, food, personal care and adhesives; a first defence order from HEMRL, a DRDO laboratory; and a new plant with a customer trial centre being built in Pune, alongside an extension of the Sonipat site.
From the offer document, the FY26 annual report, the June 2026 investor presentation, the May 2026 earnings call and the company's announcement of 10 October 2026.
Read the deeper study ↓In its favour
- Sales have grown very fast: 59% a year over three years.
- It earns a high return on the money it uses: ROCE 36% in FY26.
To watch
- Revenue of ₹180 cr or more in FY27, as guided (Annual report FY26, p.60).
- Start of the Pune plant at a quarter of its capacity in FY27 and the Sonipat extension (Annual report FY26, p.60).
- Collection of the receivables built up at March 2026, which the company expects to lift cash flow in FY27 (Investor presentation, June 2026, p.8).
- Appointment of a new chief financial officer after the resignation of 10 October 2026 (Announcement, 10 Oct 2026, p.1).
- Customers take longer to pay than before: 169 days in FY26, against 106 in FY23.
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.
Tipco Engineering India revenue and profit growth
Half-yearly results · Profit and lossSales have grown very fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew faster than sales.
Tipco Engineering India half-yearly results
SME companies report every six months · ₹ crore
| H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|
| Sales | 57 | 50 | 94.97 |
| Expenses | 47 | 37 | 70.57 |
| Operating profit | 11 | 14 | 24.40 |
| OPM | 18.0% | 27.0% | 25.7% |
| Interest | 3 | 2 | 3.41 |
| Depreciation | 0 | 0 | 0.34 |
| Profit before tax | 8 | 11 | 21.48 |
| Net profit | 7 | 9 | 16.73 |
Tipco Engineering India profit and loss
Full years to March, FY23 to FY26 · ₹ crore, consolidated where reported
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Sales | 36 | 101 | 133 | 145.28 |
| Expenses | 32 | 89 | 109 | 107.17 |
| Operating profit | 3 | 12 | 24 | 38.10 |
| OPM | 10.0% | 12.0% | 18.0% | 26.2% |
| Other income | 0 | 0 | 0 | 0.79 |
| Interest | 0 | 2 | 5 | 5.72 |
| Depreciation | 0 | 1 | 1 | 0.63 |
| Exceptional and other items | · | 1 | 1 | · |
| Profit before tax | 3 | 10 | 19 | 32.55 |
| Tax rate | 0.0% | 20.0% | 21.1% | 22.2% |
| Net profit | 3 | 8 | 15 | 25.31 |
| EPS ₹ | 2,560 | 5,329 | 8,924 | 16.44 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY25 come rounded to the nearest crore in the source.
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.
Earnings per share before FY26 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Tipco Engineering India 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
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Operating margin | 10.0% | 12.0% | 18.0% | 26.2% |
| Tax rate | 0.0% | 20.0% | 21.1% | 22.2% |
| ROCE | · | 48.9% | 44.4% | 36.1% |
| ROE | · | 106.5% | 66.6% | 37.8% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% |
Tipco Engineering India debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. 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. 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.
Tipco Engineering India balance sheet
At each 31 March · ₹ crore
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Equity capital | 0.01 | 0.02 | 0.02 | 21 |
| Reserves | 3 | 12 | 33 | 80 |
| Net worth | 3.01 | 12.02 | 33.02 | 101 |
| Borrowings | 8 | 26 | 37 | 41 |
| Other liabilities | 16.99 | 27.98 | 30.98 | 44 |
| Total liabilities | 28 | 66 | 101 | 186 |
| Fixed assets | 0 | 2 | 32 | 13 |
| Capital work in progress | 0 | 1 | 2 | 4 |
| Investments | 0 | 0 | 0 | 0 |
| Other assets | 28 | 63 | 67 | 169 |
Tipco Engineering India cash flow
₹ crore
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Cash from operations | -7 | -10 | 12 | 3 |
| Cash from investing | -1 | -3 | -31 | 16 |
| Cash from financing | 8 | 17 | 16 | 40 |
| Net cash flow | 0 | 4 | -3 | 59 |
Working capital
Days
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Debtor days | 106 | 92 | 72 | 169 |
| Inventory days | 87 | 54 | 114 | 84 |
| Days payable | 149 | 98 | 42 | 44 |
| Cash conversion cycle | 44 | 48 | 144 | 210 |
| Working capital days | 57 | 65 | 36 | 57 |
Tipco Engineering India peers and competitors
Listed SME companies in the same industryBy sales, Tipco Engineering India is number 17 of the 55 listed SME companies in industrial manufacturing.
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 |
|---|---|---|---|---|---|---|
| Adisoft Technologies | 493 | 21.5 | 166 | 22.9 | 18.0% | 0.30 |
| Energy Mission Machineries (India) | 135 | 11.3 | 161 | 11.9 | 14.0% | 0.31 |
| Merritronix | 796 | 49.8 | 156 | 16 | 17.0% | 0.81 |
| Prizor Viztech | 1,421 | 67.7 | 153 | 21 | 22.0% | 0.57 |
| Kalyani Cast-Tech | 837 | 49.2 | 150 | 17 | 15.0% | 0.01 |
| Purple Wave Infocom | 421 | 32.4 | 146 | 13 | 14.0% | 0.30 |
| Tipco Engineering India | 597 | 23.6 | 145 | 25.3 | 26.2% | 0.41 |
| Emkay Tools | 1,232 | 21.0 | 144 | 58.7 | 55.7% | 0.00 |
| IC Electricals Company | 203 | 14.5 | 143 | 14 | 19.0% | 1.19 |
| Captain Technocast | 546 | 42.0 | 130 | 13 | 13.0% | 0.38 |
| FX Multitech | 182 | 15.1 | 126 | 12 | 15.0% | 0.68 |
| Median of the 10 others | 520 | 27 | 148 | 15 | 16.0% | 0.34 |
Tipco Engineering India shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Foreign and Indian funds own a noticeable share. The number of shareholders is about the same.
Tipco Engineering India 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.
| Mar 26 | Apr 26 | |
|---|---|---|
| Promoters | 57.79% | 57.79% |
| Foreign investors (FIIs) | 1.63% | 1.63% |
| Indian institutions (DIIs) | 17.25% | 22.16% |
| Number of shareholders | 472 | 472 |
Tipco Engineering India study: the business from its own documents
Read from 8 of the company's own documentsTipco Engineering India key facts from the filings
Each figure with the document it comes from
- Order book
- ₹60 cr to ₹70 cr
- Work in hand as the company describes it; small orders ship in thirty to forty-five days and large projects in three to six months.Annual report FY26, p.59
- Plant use
- 89%
- Use of the Sonipat plant in FY26 against a capacity of 560 machines, raised to 631 machines after the year end.Investor presentation, June 2026, p.19
- Paint and coatings
- 60%
- Share of FY26 revenue from paint and coatings makers, the largest end market.Investor presentation, June 2026, p.22
- Top ten customers
- 67.24%
- Share of FY26 revenue, down from 78.83% in FY25; the single largest customer gave 25.55% in FY25.Investor presentation, June 2026, p.22; Offer document, p.159
- Exports
- ₹10.3 cr
- Export revenue in FY26, 7.10% of the total, with Austria the largest market.Annual report FY26, p.14; Investor presentation, June 2026, p.23
Show 5 more facts
- Material cost
- 65.0%
- Raw materials as a share of FY26 revenue, down from 75.3% in FY25; this drove the jump in margins.Investor presentation, June 2026, p.33; our arithmetic
- Trade receivables
- ₹67.3 cr
- Money owed by customers at March 2026, up from ₹26.2 cr a year earlier; cash from operations was ₹3.3 cr in FY26.Investor presentation, June 2026, p.33 and p.34
- Planned expansion
- ₹60 cr
- About ₹40 cr for the Pune plant and up to ₹20 cr for the Sonipat extension, about three quarters to be borrowed.Annual report FY26, p.16 and p.60
- Building sold to promoters
- ₹34.2 cr → ₹17.7 cr
- Fixed assets fell in FY26 after the company sold a residential building to the promoters and the loan on it moved to the promoter's name.Investor presentation, June 2026, p.33 and p.34
- Defence
- ₹0.45 cr
- First pilot order from DRDO's HEMRL laboratory; the company says DRDO now recommends its machines to its vendors.Annual report FY26, p.14 and p.60
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 has guided for revenue of ₹180 cr or more in FY27, including the first phase of the Pune plant, and said it would speak about FY28 after the first half of FY27. Its dated plan is for the Pune plant to run at a quarter of its capacity in FY27, about three quarters in FY28 and in full within two years, alongside a ₹20 cr extension at Sonipat. The company also says it aims for defence and LexaMix work together to reach about two fifths of revenue by FY29, and that it expects cash from operations to improve in FY27 as receivables are collected.
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.
The company earns its money building process machines and, more and more, whole production lines for paint, chemical and cement makers, and earned much better margins in the latest year as design and turnkey work grew.
Its weak spots are a small number of large customers, a lot of money waiting to be collected, and promoter firms working in the same line of business.
AverageCan it set its own prices?It sits in the middle of the market on price and can pass raw material changes to its main customers, but it does not lead on price.
AverageHow strong is it against rivals?Offering design, machines and installation together sets it apart from small local makers, but large Indian and global firms compete and promoter firms work in the same field.
WatchWho are its customers?Well-known paint, cement and chemical companies, but a handful of them make up most of the sales and many customers do not return each year.
WatchDoes it need a lot of money?Yes: large projects tie up money in receivables, and the new plants will be funded mostly with loans.
AverageCan it keep finding new work?Repeat orders and new areas such as LexaMix equipment and defence add work, but the order book covers only a few months of sales.
WatchDo good and bad years swing a lot?Sales bunch into the half when big projects finish, and margins moved a long way in a single year.
Who runs Tipco Engineering India?
Promoters, directors and officers; tap a name for the background
RSRitesh SharmaPromoter, Chairman and Managing Director · holds 38.92%
Eighteen years in machine manufacturing, including four in trading; partner in Ritesh Engineers from 2007 to 2019 handling production and design, and a partner in the promoter group firms Tipco Engineering Works and Hanutech Engineering Solutions. A director since the company was formed in 2021 and Chairman and Managing Director since August 2025, in charge of production, design, sales, exports, finance and turnkey projects.
Offer document, p.188; Annual report FY26, p.116SSSonia SharmaPromoter and Whole-Time Director · holds 16.72%
Seven years in machine manufacturing; partner in Tipco Engineering Works since 2017 and Ritesh Engineers since 2019. A director since 2021, overseeing human resources and operations. The offer document records Ritesh Sharma and Sonia Sharma as husband and wife.
Offer document, p.188 and p.189; Annual report FY26, p.116AKAnup Kumar SinghNon-Executive Director
B.Tech in electronics and communication from Allahabad Agricultural Institute and a postgraduate qualification in management from Symbiosis; National Sales Manager at Ross Process Equipment from 2014 to 2024, with twelve years in engineering.
Offer document, p.189PTPatterson ThomasIndependent Director
Associate member of the Institute of Company Secretaries of India with seven years in secretarial work, earlier at Bloomm Inn and SGS Infratech; chairs the audit committee.
Offer document, p.189; Annual report FY26, p.65SKSanjay KumarAdditional Independent Director
B.A., postgraduate diploma in business management and a Ph.D. in management and commerce, with fifteen years in management, innovation and business incubation; on the board since 27 April 2026.
Investor presentation, June 2026, p.12; Annual report FY26, p.65RGRamesh GoelChief Financial Officer until 10 October 2026
Chartered accountant qualified in 1994 with over 32 years of experience; joined in February 2026 and resigned with effect from 10 October 2026 on personal health grounds.
Investor presentation, June 2026, p.12; Announcement, 10 Oct 2026, p.1 and p.2KJKirti JainCompany Secretary and Compliance Officer
M.Com, company secretary and LL.B. with about four years in secretarial and compliance work; with the company since July 2025.
Investor presentation, June 2026, p.12Tipco Engineering India latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹95 cr (+67%), net profit ₹16.7 cr (+139%) on H2 FY25.
- Shareholding, 30 April 2026: promoters unchanged at 57.79%.
Tipco Engineering India announcements
9 on record, latest first; each opens the filing on the exchange
- Company UpdateResignation of Chief Financial Officer -Ramesh Goel from the close of business hours on October 10, 2026PDF ↗
- Company UpdateResignation of Chief Financial Officer - Ramesh Goel from the Close of Business hours on October 10 , 2026PDF ↗
- Company UpdateCertificate Under Regulation 74(5) of SEBI (Depository & Participants) Regulations, 2018 for the Quarter Ended September 30, 2026PDF ↗
- Insider Trading / SASTTrading Window Closure for all designated Person and Immediate Relative From October 01, 2026 until 48 Hours after the declaration of the unaudited financial RePDF ↗
- AGM/EGMVOTING RESULT & SCRUTINIZER REPORT FOR AGM HELD THROUGH VIDEO CONFERENCING HELD ON TUESDAY, SEPTEMBER 22, 2026PDF ↗
- AGM/EGMProceeding of 5th Annual General Meeting through Video ConferencingPDF ↗
- AGM/EGMScrutnizer''s Report & Voting Result for EGM held on September 17 , 2026PDF ↗
- AGM/EGMProceedings of the EGM held on Thursday, September 17, 2026, through Video Conferencing PDF ↗
- Company UpdateIntimation for Incorporation of New Subsidiary with name of Tipco Defence Technologies & Robotics Pvt LimitedPDF ↗
Tipco Engineering India annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 30 June 2026 ↗read
- 30 June 2026 ↗read
- 31 May 2026 ↗read
Tipco Engineering India 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 Tipco Engineering India's 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.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (2,07,67,584 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY25 (₹8,923.98) and FY26 (₹16.44) 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, FY23 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Tipco Engineering India
What does Tipco Engineering India do?
Tipco Engineering India makes mixing, grinding and dispersing machines for paint, ink, chemical and other factories, and also designs and sets up whole production lines for them. It is based in Sonipat, Haryana, and its shares trade on BSE SME.
What is the share price of Tipco Engineering India?
₹288 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Tipco Engineering India?
₹597 cr at the close on 6 Nov 2026, on 2,07,67,584 shares.
What is the P/E of Tipco Engineering India?
23.6 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Tipco Engineering India's revenue and profit?
Revenue ₹145 cr and profit after tax ₹25 cr in FY26.
Who are the promoters of Tipco Engineering India?
Ritesh Sharma, Sonia Sharma; promoters held 57.79% at 30 April 2026.
What is Tipco Engineering India's website?
tipcoengineering.com
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Built from 3 annual reports, 2 investor presentations, 1 offer document, 1 result filing, 1 earnings call transcript, 9 exchange announcements, 2 shareholding patterns and 4 years of reported results. Every figure carries its source; where the documents are silent, the page says so.