BSE: 512271
TASHI INDIA LTD.
Operates as a non-banking finance company (NBFC) based in Nagpur, listed on BSE, with a single reportable segment described as the financing business. In FY26, revenue from operations was Rs. 241.56 lakhs (against Rs. 74.03 lakhs in FY25) and other income was Rs. 209.42 lakhs, giving total income of Rs. 450.99 lakhs. Profit after tax was Rs. 71.14 lakhs on total assets of Rs. 20.25 crore, with a Q4 FY26 standalone net loss of Rs. 86.91 lakhs driven by high other expenses. The cost base carries no material input costs; employee costs are 7.7% of revenue, other operating expenses 28.6%, and depreciation 4.3%, and capex was nil as a share of revenue. The promoter group is linked to Bajaj Steel Industries and Bajaj Exports, with Vidarbha Tradelinks Private Limited holding 28.50% of the equity after an NCLT-approved inter-se transfer from Rohit Polytex. The filings do not specify the financing products offered, loan book size, borrower profile, or geographic reach beyond the Nagpur base. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Financing business, Other income. Small, single-segment NBFC with a light cost base and no capex
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2 | 1 | 1 | 1 | 2 |
| EBITDA (ex other income) | 1 | 1 | 0 | 0 | (0) |
| margin % | 80.9 | 66.0 | 28.0 | 38.0 | (14.5) |
| Owners' profit | 1 | 0 | 1 | 0 | 0 |
| EPS, as reported (₹) | 20.70 | (2.93) | 26.85 | 23.41 | 3.80 |
| ROE % · ROCE % | 4.7 · — | 1.2 · — | 3.5 · — | 9.5 · — | 3.9 · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | (0) | 11 | 3 | 1 | 1 |
| Capex | 0 | 0 | 0 | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
| Profit before tax | 0 | 0 | 0 | 1 | 0 | 2 | 0 | (1) |
| Net profit | 0 | 0 | 0 | 2 | 0 | 1 | 0 | (1) |
| EPS (₹) | 0.91 | 13.87 | (12.09) | 19.86 | 10.66 | 13.85 | 1.37 | (22.08) |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| INTL GEMOLOGICAL INST LTD | 17,213 | 28.2 | 11.57 | 16.5 | 47.8 | 58.1 | — | 64.6 |
| WEWORK INDIA MANAGEMENT L | 8,821 | 101.2 | 29.48 | 5.6 | 25.0 | 1.0 | — | 66.5 |
| NESCO LTD. | 7,059 | 16.9 | 2.36 | 11.9 | 13.8 | 14.8 | 26.2 | 68.9 |
| NIRLON LTD | 5,677 | 16.4 | 12.12 | — | 73.8 | 18.1 | — | 79.4 |
| SMARTWORKS COWORKING SP L | 5,439 | 195.1 | 10.25 | 4.6 | 2.0 | 0.3 | — | 65.8 |
| QUESS CORP LIMITED | 4,838 | 19.1 | 4.14 | 14.5 | 19.0 | 14.4 | 7.1 | 2.6 |
| INOX GREEN ENERGY SER LTD | 4,250 | 34.0 | 2.48 | 25.3 | 6.0 | 9.0 | — | 131.6 |
| INDIQUBE SPACES LIMITED | 3,731 | — | 7.25 | — | (20.7) | (2.5) | — | 67.3 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 30.7 | 13.0 | 55 of 79 | 31% |
| P/B | 0.5 | 1.3 | 21 of 95 | 79% |
| ROE | 3.9 | 2.9 | 51 of 113 | 55% |
| EBITDA margin | (59.7) | 25.4 | 82 of 92 | 11% |
| Revenue growth | 90.2 | 16.2 | 17 of 91 | 82% |
| Profit growth | (156.9) | 5.2 | 98 of 110 | 11% |
| Market cap | 9 | 47 | 87 of 108 | 20% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Tashi India profit falls sharply as Q2 and H1 revenue declines | results | medium | — | — |
| 27 Oct 2026 · Q2 and H1 results show sharp year-on-year profit decline | board shareholder meetings | low | — | — |
| 22 Oct 2026 · Board meeting set for September 2026 results | results | low | — | — |
| 6 Oct 2026 · RTA compliance certificate under Regulation 74(5) filed | compliance | minimal | — | — |
| 30 Sept 2026 · Trading Window Closed from October 1 for Q2 FY26 Results | compliance | minimal | — | — |
| 21 Sept 2026 · 41st AGM: All 4 Resolutions Passed with 100% Approval | board shareholder meetings | low | — | — |
| 19 Sept 2026 · Tashi India 41st AGM held on Sep 19, 2026; 4 resolutions passed | board shareholder meetings | low | — | — |
| 29 Aug 2026 · Newspaper advertisement published for 41st AGM notice | compliance | minimal | — | — |
| 29 Aug 2026 · Tashi India files 41st Annual Report for FY2025-26, AGM on Sep 19 | compliance | minimal | — | — |
| 28 Aug 2026 · 41st AGM set for September 19, 2026; cutoff September 12 | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.