Tirupati Forge Limited - machinery and equipment in Hadamtala, Gujarat, India. FY 2026 financials & compliance.
CIN L27320GJ2012PLC071594 Incorporated 17 August 2012 ROC Ahmedabad HQ Hadamtala, Gujarat, India
Active Listed - NSE: TIRUPATIFL Public Limited Company machinery and equipment
Data last updated
Market Cap
₹902 Cr
TIRUPATIFL-BE · NSE
Share Price
₹70.77
+1.99% today
Revenue
₹162 Cr
FY 2025-26 · +41.3% YoY
EBITDA
₹15.86 Cr
Margin 9.8%
Net Profit
₹6.29 Cr
FY 2025-26 · -19.7% YoY
P/E (TTM)
150.8x
P/B 6.5x
Authorised capital
₹26.5 Cr
Registered with MCA
Paid-up capital
₹25.84 Cr
Issued & subscribed

About Tirupati Forge Limited

Data last updated:

Tirupati Forge Limited is a public limited company based in Hadamtala, Gujarat, India. It operates in the industrial tools and components segment of the machinery and industrial equipment sector. It was incorporated on 17 August 2012 and has been in existence for over 14 years.

The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN L27320GJ2012PLC071594. Its GSTIN is 24AAECT3591Q1ZQ (Gujarat). Its shares are listed on NSE: TIRUPATIFL.

The company has an authorised share capital of ₹26.5 Cr and a paid-up capital of ₹25.84 Cr. It was formerly known as Tirupati Forge Private Limited. It is led by directors including Hiteshkumar Gordhanbhai Thummar (Managing Director) and Bhaveshbhai Tulsibhai Barasiya (Whole-Time Director).

Its last annual general meeting (AGM) was held on 05 August 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Plot No. 1 – 5 Survey No. 92/1 Near Shan Cement Hadamtala Industrial Area Tal: Kotda San, Gani, Gujarat, India – 360311.

As per the latest standalone financials for FY 2025-26, the company reported a revenue of ₹162.48 Cr, a growth of 41.3% compared to the previous year. For the same year it recorded a net profit of ₹6.29 Cr (net margin 3.9%) and EBITDA of ₹15.86 Cr (EBITDA margin 9.8%). The net worth stands at ₹133.4 Cr (up 24.6% YoY). Total assets are valued at ₹174.94 Cr (up 31.3% YoY).

The company has about 71 employees on its provident fund (EPFO) records.

The company is associated with 1 brand: Tirupati Forge. As per MCA filings, the company has open charges of ₹58.61 Cr on record. Court records list 9 cases involving the company, including 8 filed by the company and 1 filed against it; 3 cases are pending. The company has 45 deals on record (44 market trades, 1 ipo); the latest was in October 2024. Its 10 peer companies in the Automobiles industry (Auto Ancillary, Tools and Components) are compared by revenue, 5 larger and 5 smaller; the largest is Cummins Power Solutions India Private Limited with revenue of ₹116.69 Cr. The company has 26 MSME Form 1 returns on record between 2019 and 2023, listing 155 overdue payments to 39 micro and small suppliers.

The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website tirupatiforge.com.

Company Details of Tirupati Forge Limited
CIN L27320GJ2012PLC071594
Registration Number 071594
Incorporation Date 17 August 2012
ROC Ahmedabad
Listing Status Listed (NSE: TIRUPATIFL)
Company Status Active
Date of Last AGM 05 August 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
Contact Details
  • Email
    Locked
  • Telephone
    Locked
  • Social Media
  • Registered Address
    Plot No. 1 – 5 Survey No. 92/1 Near Shan Cement Hadamtala Industrial Area Tal: Kotda San, Gani, Gujarat, India – 360311
  • Industry
    Machinery and Equipment, Industrial Tools & Components
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Financials from 2015 Directors & ownership Charges & compliance

Business Activity of Tirupati Forge Limited

The main business activity of Tirupati Forge is manufacturing. In detail, this covers metal and metal products.

Main Activity Group CodeDescription of Main ActivityBusiness Activity CodeDescription of Business ActivityTurnover Percentage
CManufacturingC7Metal and metal productsLocked
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Turnover share and past changes in activity are in the company report.

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Financials of Tirupati Forge Limited FY 2025-26 filings available

Tirupati Forge Limited reported revenue of ₹162.48 Cr (up 41.3% YoY) for FY 2025-26.

Financial Highlights

FY 2025-26 · Standalone
Revenue
₹162 Cr
+41.3% YoY
EBITDA
₹15.86 Cr
+4.2% YoY
Profit After Tax
₹6.29 Cr
-19.7% YoY
Net Worth
₹133 Cr
+24.6% YoY
Total Assets
₹175 Cr
+31.3% YoY
Total Debt
₹41.54 Cr
+58.5% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue16211511092.0388.2430.7727.61
Revenue growth+41.3%+4.5%+19.5%+4.3%+186.8%+11.5%-
EBITDA15.8615.2212.7614.6010.582.682.35
EBITDA margin+9.8%+13.2%+11.6%+15.9%+12.0%+8.7%+8.5%
Profit before tax8.5510.518.9212.638.340.550.37
Net profit6.297.836.469.206.170.380.27
Net profit margin+3.9%+6.8%+5.9%+10.0%+7.0%+1.2%+1.0%
EPS (₹)0.500.660.640.960.640.350.28
Balance sheet
Total assets17513363.0546.3437.8628.3722.47
Net worth13310749.9236.2426.8120.7618.54
Total debt41.5426.2013.1310.1011.057.603.93
Cash & bank6.5633.134.490.090.850.110.79
Net working capital45.2476.1134.8329.6521.2212.687.67
Cash flow
Cash from operations16.095.8510.314.511.21(3.02)3.34
Cash from investing(75.15)(38.00)(14.70)(3.37)(2.90)(2.79)(4.75)
Cash from financing32.4860.788.79(1.90)2.435.132.09
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue38.1041.9148.6039.6732.3027.5026.1432.28
Revenue growth (YoY)+18.0%+52.4%+85.9%+22.9%+11.2%---
Other income0.331.130.661.060.620.430.400.30
Total expenses33.7338.0543.5136.4428.6224.4023.5427.44
EBITDA4.373.865.093.233.683.102.604.84
EBITDA margin+11.5%+9.2%+10.5%+8.1%+11.4%+11.3%+9.9%+15.0%
Depreciation2.092.122.141.801.671.390.941.02
Interest0.950.800.870.650.730.440.310.51
Profit before tax1.662.072.741.841.901.701.753.61
Tax0.440.550.720.500.490.410.440.95

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 09 Oct 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue38.1041.9148.6039.6732.3027.5026.1432.28
Revenue growth (YoY)+18.0%+52.4%+85.9%+22.9%+11.2%---
Other income0.331.130.661.060.620.430.400.30
Total expenses33.7338.0543.5136.4428.6224.4023.5427.44
EBITDA4.373.865.093.233.683.102.604.84
EBITDA margin+11.5%+9.2%+10.5%+8.1%+11.4%+11.3%+9.9%+15.0%
Depreciation2.092.122.141.801.671.390.941.02
Interest0.950.800.870.650.730.440.310.51
Profit before tax1.662.072.741.841.901.701.753.61
Tax0.440.550.720.500.490.410.440.95
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue16211511092.0388.2430.7727.61
Revenue growth+41.3%+4.5%+19.5%+4.3%+186.8%+11.5%-
Other income3.461.310.921.811.070.200.36
Total expenses14799.7697.2477.4377.6628.0925.26
Employee cost0.006.074.594.323.772.152.08
EBITDA15.8615.2212.7614.6010.582.682.35
EBITDA margin+9.8%+13.2%+11.6%+15.9%+12.0%+8.7%+8.5%
Depreciation7.724.373.452.712.431.961.82
Interest3.051.651.311.070.880.370.52
Profit before tax8.5510.518.9212.638.340.550.37
Tax2.262.662.293.202.130.150.10
Net profit6.297.836.469.206.170.380.27
Net profit margin+3.9%+6.8%+5.9%+10.0%+7.0%+1.2%+1.0%
EPS (₹)0.500.660.640.960.640.350.28
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital25.3323.6620.7419.6019.6011.2010.32
Reserves & surplus10574.0029.1816.647.219.567.57
Shareholders' funds (net worth)13310749.9236.2426.8120.7618.54
Secured loans34.3817.689.537.889.796.841.07
Unsecured loans7.168.523.602.221.260.762.86
Total debt41.5426.2013.1310.1011.057.603.93
Total liabilities17513363.0546.3437.8628.3722.47
Assets
Gross block79.3353.0132.1926.7325.2922.6619.98
Net block57.2437.0619.2015.2114.4613.9213.04
Capital work in progress66.6218.417.680.170.000.000.00
Investments0.000.000.000.000.000.000.00
Inventories23.4823.0822.3315.9715.2110.585.69
Sundry debtors25.9817.1715.8516.2316.064.362.76
Cash & bank balances6.5633.134.490.090.850.110.79
Loans & advances17.2915.413.412.303.702.821.29
Total current assets73.3188.7946.0834.5935.8217.8710.53
Total current liabilities28.0712.6811.254.9414.605.192.86
Net working capital45.2476.1134.8329.6521.2212.687.67
Total assets17513363.0546.3437.8628.3722.47
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash33.134.490.090.850.110.790.12
Net cash from operating activities16.095.8510.314.511.21(3.02)3.34
Net cash from investing activities(75.15)(38.00)(14.70)(3.37)(2.90)(2.79)(4.75)
Net cash from financing activities32.4860.788.79(1.90)2.435.132.09
Net change in cash(26.57)28.644.40(0.76)0.74(0.68)0.68
Closing cash6.5633.134.490.090.850.110.79
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+41.3%+4.5%+19.5%+4.3%+186.8%+11.5%-
EBITDA growth+4.2%+19.3%-12.6%+38.0%+294.8%+14.0%-
PBT growth-18.7%+17.8%-29.4%+51.4%+1416.4%+48.7%-93.7%
Net income growth-19.7%+21.2%-29.8%+49.1%+1523.7%+40.7%-
Revenue CAGR (3Y)+20.9%+9.2%+52.9%+49.4%+28.2%+13.9%+19.7%
EBITDA CAGR (3Y)+2.8%+12.9%+68.2%+83.8%+14.4%-5.2%+7.9%
Profitability & leverage
Net income margin+3.9%+6.8%+6.0%+10.3%+7.0%+1.3%+1.0%
Return on capital employed-+12.4%+18.7%+32.5%+27.9%+3.6%+4.3%
Return on net worth-+10.0%+15.4%+29.9%+26.2%+2.0%+1.7%
Debt / equity-0.250.270.340.390.290.26
Long-term debt / equity-0.130.070.100.150.140.15
Interest cover37.4715.2114.079.0010.8051.3998.11
Efficiency & per share
Fixed asset turnover-2.703.733.543.681.441.57
Inventory turnover-5.065.745.906.843.785.25
Debtors turnover-6.966.865.708.648.646.95
EPS (₹)0.500.660.640.960.640.350.28
Dividend per share (₹)0.000.000.000.000.020.000.00
Book value per share (₹)0.008.264.813.702.7418.5417.82
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Peer Comparison of Tirupati Forge Limited

Tirupati Forge Limited is compared with the companies closest to it by revenue in the Automobiles industry (Auto Ancillary, Tools and Components). Net profit, margin and employee counts of each company are in the company report.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
Tirupati Forge Limited this company₹162.48 Cr (FY 2026)••••••••41.3%••••Hadamtala, Gujarat, India
Cummins Power Solutions India Private Limited₹116.69 Cr (FY 2025)••••••••19678.0%••••Pune, Maharashtra, India
Avlight Automotives Private Limited₹116.66 Cr (FY 2025)••••••••-2.0%••••New Delhi, Delhi, India
Dura Auto Systems India Private Limited₹116.47 Cr (FY 2025)••••••••22.0%••••Pune, Maharashtra, India
Meena Elastomers Private Limited₹116.42 Cr (FY 2025)••••••••21.0%••••Nashik, Maharashtra, India
Trinity India Forgetech Private Limited₹116.38 Cr (FY 2025)••••••••-15.0%••••Mumbai, Maharashtra, India
Chowel India Private Limited₹116.27 Cr (FY 2017)••••••••15.0%••••Sriperumbudur, Tamil Nadu, India
Menon Piston Rings Private Limited₹116.19 Cr (FY 2025)••••••••-1.0%••••Kolhapur, Maharashtra, India
Lohr India Automotive Private Limited₹115.93 Cr (FY 2025)••••••••-33.0%••••Pune, Maharashtra, India
Magan Motors Private Limited₹115.86 Cr (FY 2025)••••••••1506.0%••••Agra, Uttar Pradesh, India
CS Components Private Limited₹115.68 Cr (FY 2025)••••••••6.0%••••Mumbai, Maharashtra, India

Peers are the five companies nearest above and the five nearest below Tirupati Forge by revenue in the Automobiles industry (Auto Ancillary, Tools and Components), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.

Auditor Details of Tirupati Forge Limited

Tirupati Forge Limited is audited by Kamlesh Rathod & Asociates for the financial year 2023.

NameStatusAppointment DateCessation Date
Kamlesh Rathod & AsociatesLockedLockedLocked
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Board of Directors of Tirupati Forge Limited

Tirupati Forge has 6 current directors and 8 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Jagruti Nitinkumar ErdaDirector26 Jul 20224 Years 2 MonthsCurrent
Bhaveshbhai Tulsibhai BarasiyaWhole-Time Director17 Aug 201214 Years 1 MonthsCurrent
Darshna Hiteshbhai ThummarDirector31 Jul 20179 Years 2 MonthsCurrent
Hiteshkumar Gordhanbhai ThummarManaging Director25 Mar 20179 Years 6 MonthsCurrent
Mallappa BeleriDirector14 May 20251 Years 4 MonthsCurrent
Smita Sachin RavaniDirector27 Sep 20242 Years 0 MonthsCurrent

Shareholding Pattern of Tirupati Forge Limited

Shareholding for the quarter ended Sep 2026: promoters hold 49.80%, foreign institutional investors hold 0.40%, domestic institutional investors hold 0.00% and retail and other public shareholders hold 49.80%.

Promoters: 49.80%FII (Foreign Institutional): 0.40%Retail & Others: 49.80%
Sep 2026
QUARTER
49.80% Promoters
0.40% FII (Foreign Institutional)
49.80% Retail & Others
Promoter holding - history
Now 49.80% · Sep 2026High 49.80% · Sep 2026Low 48.10% · Dec 2025
47%48%49%50%51%Dec 2025Mar 2026Jun 2026Sep 2026Dec 2025: 48.10%Mar 2026: 48.90%Jun 2026: 49.00%Sep 2026: 49.80%48.10%49.80%
Shareholding trend - last 6 quarters
Sep 2026Jun 2026Mar 2026Dec 2025
Promoters49.80%49.00%48.90%48.10%
Public50.20%51.00%51.10%51.90%

Charges & Borrowings of Tirupati Forge Limited

Open charges
₹58.61 Cr
Satisfied charges
None
Breakdown by lending institutions
Indian Overseas Bank₹38.38 Cr
Others₹20.23 Cr
Latest charge details
DateLenderAmountStatus
06 Apr 2026Others₹1.21 CrOpen
06 Apr 2026Others₹1.08 CrOpen
06 Apr 2026Others₹89.21 LakhOpen
06 Apr 2026Others₹97.7 LakhOpen
17 Dec 2025Others₹6.8 CrOpen

Total charge records: 15 View all charges

Deals & Funding of Tirupati Forge Limited

Tirupati Forge Limited has 45 deals on record (44 market trades, 1 ipo); the latest was in October 2024.

Total deals
45
Market trades
44
IPO
1

Deals on record (5 of 45)

WhenDealAmountParties
Oct 2024Market trade₹3.06 CrBuyer: Multiplier Share and Stock Advisors Private Limited
Seller: Multiplier Share and Stock Advisors Private Limited
Jun 2024Market trade₹2.18 CrBuyer: NK Securities Research Private Limited
Seller: NK Securities Research Private Limited
Sep 2023Market trade₹48.8 LakhSeller: Dhwaja Shares & Securities Private Limited
Sep 2023Market trade₹44.8 LakhSeller: Dhwaja Commodity Services Private Limited
Jul 2023Market trade₹44.6 LakhBuyer: Dhwaja Commodity Services Private Limited
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All 45 deals with amounts, valuations, instruments and every party are in the company report.

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Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

MSME Payment Delays by Tirupati Forge Limited

Tirupati Forge Limited has 26 MSME Form 1 returns on record between 2019 and 2023, listing 155 overdue payments to 39 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.

Suppliers with reported dues (5 of 39)

SupplierAmount dueDue sinceReported on
Dhaval Steel Forge••••••••••••
Maruti Steel Company••••••••••••
Cognova Heat Treatment LLP••••••••••••
Shakti Heat-Treaters and Engineers••••••••••••
an individual supplier••••••••••••
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Full MSME payment history

Every supplier, amount and due date from all 26 MSME Form 1 returns is in the company report.

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Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.

Associated Brands with Tirupati Forge Limited

Tirupati Forge operates one associated brand: TIRUPATI FORGE. Each brand links to its own profile.

BrandDescriptionWebsite
Tirupati Forge Limited - Rajkottirupatiforge.com

Employees and EPFO Compliance at Tirupati Forge Limited

Tirupati Forge Limited has a workforce of 71 employees as of Apr 07, 2024.

Employee count
71
Active EPFO establishments
1
Employee growth
-10.13%
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Employee and EPFO history

Monthly headcount, contribution history and filing status are in the company report.

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CIN History of Tirupati Forge Limited

Tirupati Forge has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L27320GJ2012PLC071594, which is the unique identifier assigned by the Registrar of Companies.

CINStatus
L27320GJ2012PLC071594Current
U27320GJ2012PLC071594Previous
U27320GJ2012PTC071594Previous

Recent Activity on Tirupati Forge Limited

Tirupati Forge Limited has 17 board changes on record since 2012: 12 appointments and 5 cessations. The latest: Mallappa Beleri was appointed as Director on 14 May 2025.

Charges
A charge with Others amounted to Rs. 1.21 Cr with Charge ID 101278169 was registered on 06 Apr 2026.
Charges
A charge with Others amounted to Rs. 1.08 Cr with Charge ID 101278174 was registered on 06 Apr 2026.
Charges
A charge with Others amounted to Rs. 0.89 Cr with Charge ID 101278172 was registered on 06 Apr 2026.
Charges
A charge with Others amounted to Rs. 0.98 Cr with Charge ID 101278181 was registered on 06 Apr 2026.
Charges
A charge with Others amounted to Rs. 6.80 Cr with Charge ID 101208559 was registered on 17 Dec 2025.
Charges
A charge with Others amounted to Rs. 0.65 Cr with Charge ID 101224008 was registered on 16 Dec 2025.
Charges
A charge with Others amounted to Rs. 6.13 Cr with Charge ID 101224667 was registered on 11 Dec 2025.
Charges
A charge with Indian Overseas Bank of Rs. 38.38 Cr registered on 04 May 2013 with Charge ID 10426728 was modified on 08 Dec 2025.
Charges
A charge with Others amounted to Rs. 0.60 Cr with Charge ID 101201555 was registered on 03 Nov 2025.
Charges
A charge with Others amounted to Rs. 0.49 Cr with Charge ID 101185038 was registered on 29 Oct 2025.
Charges
A charge with Others amounted to Rs. 0.54 Cr with Charge ID 101185062 was registered on 29 Oct 2025.
Charges
A charge with Others amounted to Rs. 0.45 Cr with Charge ID 101185048 was registered on 26 Sep 2025.

24 earlier events are listed in the company report.

Credit Ratings, Litigation & Regulatory Alerts for Tirupati Forge Limited

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Subsidiaries & Group Companies of Tirupati Forge Limited

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GST Compliance of Tirupati Forge Limited

Tirupati Forge has 1 GST registration: 1 active.

Total GSTINs
1
Active
1
GSTINStateStatusRegistered on
24AAECT3591Q1ZQGujaratActive01 Jul 2017
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GST registrations and filing compliance

State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.

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MCA Filings & Documents of Tirupati Forge Limited

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MCA filings and documents

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Frequently Asked Questions about Tirupati Forge Limited

Tirupati Forge is an active public limited company based in Hadamtala, Gujarat, India. The company works in industrial tools and components, within the machinery and equipment industry. It was incorporated on 17 August 2012 (14+ years old) and is registered under CIN L27320GJ2012PLC071594. Listed on NSE: TIRUPATIFL.

Tirupati Forge reported revenue of ₹162.48 Cr for FY 2025-26 (up 41.3% YoY) based on standalone financials.

Tirupati Forge has 6 current directors:

The GSTIN of Tirupati Forge is 24AAECT3591Q1ZQ, registered in Gujarat.

The CIN (Corporate Identification Number) of Tirupati Forge is L27320GJ2012PLC071594. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Yes. Tirupati Forge is listed on NSE with symbol TIRUPATIFL.

Tirupati Forge has 9 court cases on record: 8 filed by the company and 1 filed against it. 3 are pending.

Tirupati Forge was incorporated on 17 August 2012, making it 14+ years old. It is registered with the Registrar of Companies, Ahmedabad.

Tirupati Forge has 45 deals on record (44 market trades, 1 ipo); the latest was in October 2024.

The peers of Tirupati Forge by revenue are Cummins Power Solutions India Private Limited, Avlight Automotives Private Limited, Dura Auto Systems India Private Limited, Meena Elastomers Private Limited, Trinity India Forgetech Private Limited and 5 more, all in the Automobiles industry (Auto Ancillary, Tools and Components).

Mallappa Beleri was appointed as Director on 14 May 2025. Anand Mohan Shrivastava ceased to be Director on 13 May 2025. Smita Sachin Ravani was appointed as Director on 27 Sep 2024. Tirupati Forge has 17 board changes on record in total.

Tirupati Forge has 26 MSME Form 1 returns on record between 2019 and 2023, listing 155 overdue payments to 39 micro and small suppliers. The latest return was filed on 29 Aug 2023.

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