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Last Updated: April 2, 2026, 3:49 am
Author: Getaka|Social: XLinkedIn

Thejo Engineering Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹1,393.16Fairly Valued by 6.31%vs CMP ₹1,487.00

P/E (32.0) × ROE (18.2%) × BV (₹298.00) × DY (0.34%)

₹735.81Overvalued by 50.52%vs CMP ₹1,487.00
MoS: -102.1% (Negative)Confidence: 63/100 (Moderate)Models: 1 Fair, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1,461.2922%Fair (-1.7%)
Graham NumberEarnings₹548.2616%Over (-63.1%)
Earnings PowerEarnings₹350.7313%Over (-76.4%)
DCFCash Flow₹573.4213%Over (-61.4%)
Net Asset ValueAssets₹297.777%Over (-80%)
EV/EBITDAEnterprise₹753.189%Over (-49.3%)
Earnings YieldEarnings₹448.307%Over (-69.9%)
ROCE CapitalReturns₹780.089%Over (-47.5%)
Revenue MultipleRevenue₹508.885%Over (-65.8%)
Consensus (9 models)₹735.81100%Overvalued
Key Drivers: Wide model spread (₹298–₹1,461) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 4.9%

*Investments are subject to market risks

Investment Snapshot

64
Thejo Engineering Ltd scores 64/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health92/100 · Strong
ROCE 22.1% ExcellentROE 18.2% ExcellentD/E 0.07 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 0.12% (6mo) Slight increasePromoter holding at 53.6% Stable
Earnings Quality65/100 · Strong
OPM expanding (15% → 17%) Improving
Quarterly Momentum40/100 · Moderate
Revenue (4Q): +12% YoY GrowingProfit (4Q): -1% YoY DecliningOPM: 11.4% (down 6.5% YoY) Margin pressure
Industry Rank40/100 · Moderate
P/E 32.0 vs industry 35.5 In-lineROCE 22.1% vs industry 37.7% Below peers3Y sales CAGR: 9% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:49 am

Market Cap 1,613 Cr.
Current Price 1,487
Intrinsic Value₹735.81
High / Low 2,486/1,446
Stock P/E32.0
Book Value 298
Dividend Yield0.34 %
ROCE22.1 %
ROE18.2 %
Face Value 10.0
PEG Ratio6.54

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Thejo Engineering Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Thejo Engineering Ltd 1,613 Cr. 1,487 2,486/1,44632.0 2980.34 %22.1 %18.2 % 10.0
BGR Energy Systems Ltd 1,861 Cr. 258 491/73.5 2680.00 %25.0 %% 10.0
Salasar Techno Engineering Ltd 1,091 Cr. 6.24 11.5/5.5952.5 4.650.00 %11.0 %4.10 % 1.00
Jash Engineering Ltd 2,268 Cr. 360 699/32140.8 70.30.55 %25.0 %22.4 % 2.00
Electrotherm (India) Ltd 736 Cr. 578 1,280/55014.9 1210.00 %31.6 %% 10.0
Industry Average3,678.83 Cr421.0935.53118.780.36%37.74%16.87%6.04

All Competitor Stocks of Thejo Engineering Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 122.00121.82134.69134.03149.87140.82130.53133.44135.58153.19135.56153.11162.25
Expenses 106.97111.62112.03110.97120.83115.32112.11116.57111.41124.98119.21132.04143.79
Operating Profit 15.0310.2022.6623.0629.0425.5018.4216.8724.1728.2116.3521.0718.46
OPM % 12.32%8.37%16.82%17.21%19.38%18.11%14.11%12.64%17.83%18.42%12.06%13.76%11.38%
Other Income 1.280.871.180.312.03-0.290.694.04-0.080.432.322.21-1.03
Interest 1.171.241.751.661.601.411.461.391.141.231.451.101.31
Depreciation 3.183.364.604.755.235.864.494.874.765.243.912.194.37
Profit before tax 11.966.4717.4916.9624.2417.9413.1614.6518.1922.1713.3119.9911.75
Tax % 22.91%23.96%22.81%20.28%21.95%25.03%26.98%16.11%23.91%25.21%26.60%29.41%28.60%
Net Profit 9.214.9213.5013.5218.9213.459.6012.2913.8416.589.7514.118.39
EPS in Rs 8.384.3911.8412.2516.1511.598.8510.9812.1314.038.6813.928.20

Last Updated: March 3, 2026, 2:12 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 4:46 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 147186175178220229303327424474559552604
Expenses 133175162158192197254276355414458464520
Operating Profit 141113202731495069601008884
OPM % 9%6%7%11%12%14%16%15%16%13%18%16%14%
Other Income 1100110313354
Interest 5666655435655
Depreciation 466556691112201916
Profit before tax 6019172238415646776867
Tax % 79%1,240%149%34%23%31%21%27%24%24%23%23%
Net Profit 1-2-16131530294335595249
EPS in Rs 3.04-0.220.205.5910.7312.9724.1725.1935.3130.3051.6946.0044.83
Dividend Payout % 38%-522%572%21%12%13%7%8%6%7%6%11%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-300.00%50.00%700.00%116.67%15.38%100.00%-3.33%48.28%-18.60%68.57%-11.86%
Change in YoY Net Profit Growth (%)0.00%350.00%650.00%-583.33%-101.28%84.62%-103.33%51.61%-66.88%87.18%-80.44%

Thejo Engineering Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:11%
5 Years:13%
3 Years:9%
TTM:0%
Compounded Profit Growth
10 Years:75%
5 Years:14%
3 Years:10%
TTM:-5%
Stock Price CAGR
10 Years:%
5 Years:44%
3 Years:18%
1 Year:-30%
Return on Equity
10 Years:20%
5 Years:21%
3 Years:20%
Last Year:18%

Last Updated: September 5, 2025, 1:46 pm

Balance Sheet

Last Updated: December 10, 2025, 3:33 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 333333341111111111
Reserves 50484652627498125154186240287312
Borrowings 31373941343136183845433039
Other Liabilities 506054415460799498121119119130
Total Liabilities 135148143138153169216240301362412446492
Fixed Assets 333130293234324666112108103148
CWIP 10011001122163
Investments 0000000000000
Other Assets 101116112108119135184193234249301328340
Total Assets 135148143138153169216240301362412446492

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 514122420195227595273
Cash from Investing Activity + -13-4-4-5-8-6-5-13-15-51-19-44
Cash from Financing Activity + 44-4-4-15-9-2-31-0-8-15-22
Net Cash Flow -41-4315138130176
Free Cash Flow -8-5-06151315391393132
CFO/OP 64%31%53%72%100%84%52%125%59%120%69%105%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-17.00-26.00-26.00-21.00-7.000.0013.0032.0031.0015.0057.0058.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 11510811212010910212210492838989
Inventory Days 117110281221196315229214198201194209
Days Payable 107131193185155207178223131161126130
Cash Conversion Cycle 1248720015715021017394159123156168
Working Capital Days 202533385263737584708286
ROCE %13%7%8%16%22%24%33%28%31%21%28%22%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2022Mar 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 54.44%54.34%54.22%54.15%54.02%53.64%53.63%53.62%53.62%53.62%53.62%53.61%
FIIs 0.00%0.14%0.00%0.00%0.49%0.12%0.23%0.66%0.67%0.65%0.66%0.79%
DIIs 0.00%0.45%0.72%0.72%0.76%0.89%2.41%2.45%3.02%3.20%3.34%3.14%
Public 45.56%45.07%45.06%45.13%44.72%45.36%43.72%43.27%42.69%42.53%42.38%42.46%
No. of Shareholders 1,2201,1561,4493,6114,3425,4687,2497,7437,6708,0458,3458,070

Shareholding Pattern Chart

No. of Shareholders

Thejo Engineering Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Mahindra Manulife Manufacturing Fund 52,653 1.32 9.07N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 46.0751.8630.3535.4125.31
Diluted EPS (Rs.) 46.0751.4330.0034.9224.92
Cash EPS (Rs.) 66.0874.1643.9149.77108.66
Book Value[Excl.RevalReserv]/Share (Rs.) 274.55253.21205.11174.24409.46
Book Value[Incl.RevalReserv]/Share (Rs.) 274.55253.21205.11174.24409.46
Revenue From Operations / Share (Rs.) 509.63519.68443.38398.29930.13
PBDIT / Share (Rs.) 85.5296.1558.4765.64150.67
PBIT / Share (Rs.) 67.6777.1647.0855.76125.75
PBT / Share (Rs.) 62.8571.1942.7752.81115.25
Net Profit / Share (Rs.) 48.2355.1732.5239.8983.74
NP After MI And SOA / Share (Rs.) 46.0051.6930.2935.3175.23
PBDIT Margin (%) 16.7818.5013.1816.4816.19
PBIT Margin (%) 13.2714.8410.6114.0013.51
PBT Margin (%) 12.3313.699.6413.2512.39
Net Profit Margin (%) 9.4610.617.3310.019.00
NP After MI And SOA Margin (%) 9.029.946.838.868.08
Return on Networth / Equity (%) 16.7522.2316.5122.8020.57
Return on Capital Employeed (%) 21.0726.7119.2626.6228.05
Return On Assets (%) 11.1713.448.8912.4210.96
Long Term Debt / Equity (X) 0.000.030.050.070.03
Total Debt / Equity (X) 0.010.050.080.100.07
Asset Turnover Ratio (%) 1.291.441.421.161.05
Current Ratio (X) 3.122.892.392.862.25
Quick Ratio (X) 2.442.281.822.201.79
Inventory Turnover Ratio (X) 8.611.951.991.921.33
Dividend Payout Ratio (NP) (%) 6.513.856.585.646.55
Dividend Payout Ratio (CP) (%) 4.692.814.784.414.92
Earning Retention Ratio (%) 93.4996.1593.4294.3693.45
Cash Earning Retention Ratio (%) 95.3197.1995.2295.5995.08
Interest Coverage Ratio (X) 17.7516.1013.5822.2114.35
Interest Coverage Ratio (Post Tax) (X) 11.0110.248.5514.508.97
Enterprise Value (Cr.) 1858.652600.661406.591268.64399.08
EV / Net Operating Revenue (X) 3.364.652.962.991.22
EV / EBITDA (X) 20.0425.1322.4818.137.53
MarketCap / Net Operating Revenue (X) 3.464.712.993.021.26
Retention Ratios (%) 93.4896.1493.4194.3593.44
Price / BV (X) 6.4210.527.237.773.20
Price / Net Operating Revenue (X) 3.464.712.993.021.26
EarningsYield 0.020.020.020.020.06

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Thejo Engineering Ltd. is a Public Limited Listed company incorporated on 26/03/1986 and has its registered office in the State of Tamil Nadu, India. Company's Corporate Identification Number(CIN) is L27209TN1986PLC012833 and registration number is 012833. Currently Company is involved in the business activities of Repair of machinery. Company's Total Operating Revenue is Rs. 436.46 Cr. and Equity Capital is Rs. 10.85 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Engineering - General3rd Floor, VDS House, Chennai (Madras) Tamil Nadu 600086Contact not found
Management
NamePosition Held
Mr. K J JosephChairman Emeritus
Mr. V A GeorgeExecutive Chairman
Mr. Thomas JohnVice Chairman
Mr. Manoj JosephManaging Director
Mr. Rajesh JohnDeputy Managing Director
Mr. Srinivas AcharyaIndependent Director
Mr. K JairajIndependent Director
Mr. Sridhar GaneshIndependent Director
Mr. Nilesh S VikamseyIndependent Director
Prof. N VenkiteswaranIndependent Director
Ms. Subhathra SrinivasaraghavanIndependent Director

FAQ

What is the intrinsic value of Thejo Engineering Ltd and is it undervalued?

As of 12 April 2026, Thejo Engineering Ltd's intrinsic value is ₹735.81, which is 50.52% lower than the current market price of ₹1,487.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (18.2 %), book value (₹298), dividend yield (0.34 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Thejo Engineering Ltd?

Thejo Engineering Ltd is trading at ₹1,487.00 as of 12 April 2026, with a FY2026-2027 high of ₹2,486 and low of ₹1,446. The stock is currently near its 52-week low. Market cap stands at ₹1,613 Cr..

How does Thejo Engineering Ltd's P/E ratio compare to its industry?

Thejo Engineering Ltd has a P/E ratio of 32.0, which is below the industry average of 35.53. This is broadly in line with or below the industry average.

Is Thejo Engineering Ltd financially healthy?

Key indicators for Thejo Engineering Ltd: ROCE of 22.1 % indicates efficient capital utilization; ROE of 18.2 % shows strong shareholder returns. Dividend yield is 0.34 %.

Is Thejo Engineering Ltd profitable and how is the profit trend?

Thejo Engineering Ltd reported a net profit of ₹52 Cr in Mar 2025 on revenue of ₹552 Cr. Compared to ₹43 Cr in Mar 2022, the net profit shows an improving trend.

Does Thejo Engineering Ltd pay dividends?

Thejo Engineering Ltd has a dividend yield of 0.34 % at the current price of ₹1,487.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Thejo Engineering Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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