NSE: TIIL · BSE: 532804
TECHNOCRAFT IND LTD
Operates across five industrial divisions, with consolidated FY26 revenue of Rs 2,758.98 crore and net profit of Rs 293.08 crore. Scaffoldings is the largest stream at Rs 1,342.53 crore (47.7% of segment revenue) with an FY26 EBIT margin of 14.0%. Drum Closures, the second-largest at Rs 636.26 crore (22.6%), is the most profitable segment with a 36.7% EBIT margin. Yarn contributes Rs 361.56 crore (12.8%) at a thin 2.3% EBIT margin, while Engineering & Design adds Rs 279.54 crore (9.9%) at a 12.2% EBIT margin. The Fabric Division at Murbad, contributing Rs 193.53 crore (6.9%) at a -8.4% EBIT margin, is being discontinued from July 2026 due to three straight years of losses, though yarn and garment work continues through subsidiaries. The group runs through 24 subsidiaries across India, UAE, UK, Poland, China, USA, Brazil, New Zealand, Germany, Denmark and Canada, and in July 2026 set up a new engineering subsidiary in Japan. Materials are the largest cost at 44.3% of revenue, followed by other operating expenses at 25.3% and employee costs at 14.6%. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Scaffoldings Division (48%), Drum Closures Division (23%), Yarn Division (13%), Engineering & Design (10%), Fabric Division (7%). Diversified, asset-light industrial group with five unrelated divisions; iron and steel products as the basic industry
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,911 | 1,985 | 2,182 | 2,596 | 2,759 |
| EBITDA (ex other income) | 397 | 403 | 390 | 415 | 468 |
| margin % | 20.8 | 20.3 | 17.9 | 16.0 | 17.0 |
| Owners' profit | 267 | 267 | 264 | 256 | 285 |
| EPS, as reported (₹) | 109.31 | 110.98 | 115.06 | 112.32 | 125.84 |
| ROE % · ROCE % | 20.3 · 26.5 | 19.3 · 25.8 | 16.3 · 21.5 | 14.5 · 19.5 | 14.2 · 19.3 |
| Debt / equity (x) | 0.37 | 0.45 | 0.39 | 0.47 | 0.40 |
| Cash from operations | 108 | 136 | 308 | 276 | 243 |
| Capex | (65) | 0 | 0 | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 629 | 644 | 702 | 633 | 752 | 662 | 712 | 805 |
| Profit before tax | 93 | 58 | 92 | 108 | 101 | 74 | 105 | 175 |
| Net profit | 71 | 41 | 66 | 82 | 79 | 54 | 78 | 138 |
| EPS (₹) | 30.16 | 18.03 | 29.09 | 35.02 | 33.80 | 23.46 | 33.56 | 58.97 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Drum Closures Division | 181 | 6.5 |
| Scaffoldings Division | 1,342 | 47.9 |
| Yarn Division | 354 | 12.6 |
| Fabric Division | 190 | 6.8 |
| Engineering & Design | 217 | 7.7 |
| Others | 1 | 0.0 |
| Drum Closure Division | 454 | 16.2 |
| Engineering & Design Division | 62 | 2.2 |
| Total, before eliminations | 2,800 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| WELSPUN CORP LIMITED | 67,533 | 29.2 | 7.18 | 28.8 | 17.2 | 14.9 | 21.1 | 18.5 |
| APL APOLLO TUBES LTD | 60,250 | 49.0 | 11.38 | 31.4 | 22.7 | 26.1 | 22.1 | 8.0 |
| SHYAM METALICS AND ENGY L | 31,861 | 28.4 | 2.58 | 12.9 | 8.6 | 11.4 | 24.1 | 14.9 |
| RATNAMANI MET & TUB LTD. | 16,161 | 37.3 | 3.84 | 18.9 | 12.7 | 15.6 | 14.4 | 18.5 |
| JINDAL SAW LIMITED | 15,396 | 23.5 | 1.25 | 8.5 | 7.5 | 6.8 | 10.9 | 9.4 |
| USHA MARTIN LTD. | 14,152 | 27.9 | 4.29 | 18.6 | 14.1 | 17.7 | 12.0 | 21.0 |
| GALLANTT ISPAT LIMITED | 13,005 | 29.9 | 3.92 | 17.3 | 14.6 | 16.8 | 34.4 | 17.8 |
| GODAWARI POW & ISP LTD | 12,751 | 14.9 | 2.18 | 9.7 | 13.7 | 17.0 | 5.7 | 21.0 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 17.2 | 15.4 | 56 of 105 | 47% |
| P/B | 2.8 | 1.5 | 75 of 101 | 26% |
| ROCE | 16.8 | 9.1 | 19 of 115 | 84% |
| ROE | 14.2 | 8.6 | 19 of 103 | 82% |
| Debt / Equity | 0.4 | 0.2 | 73 of 101 | 28% |
| EBITDA margin | 27.1 | 11.0 | 14 of 100 | 87% |
| Revenue growth | 27.2 | 13.7 | 31 of 97 | 69% |
| Profit growth | 67.3 | 29.3 | 38 of 105 | 64% |
| Market cap | 5838 | 216 | 14 of 122 | 89% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Board to approve September 2026 quarterly results on November 13 | results | low | — | — |
| 17 Oct 2026 · CRISIL assigns ESG score of 56 to Technocraft Industries | credit debt | medium | — | — |
| 6 Oct 2026 · RTA submits demat processing confirmation certificate for Q2 FY26 | compliance | minimal | — | — |
| 30 Sept 2026 · Acquisition of Japan-based Technosoft Integrated Solutions K.K. called off | strategic transactions | high | — | — |
| 29 Sept 2026 · Technocraft designates 9 existing employees as Senior Management Personnel | management changes | medium | — | — |
| 28 Sept 2026 · Technocraft 34th AGM: All 6 resolutions passed with over 98 percent approval | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Technocraft Industries 34th AGM: FY26 results, dividend, key approvals | board shareholder meetings | low | — | — |
| 24 Sept 2026 · Trading window closed ahead of Q2/H1 FY26 results | compliance | minimal | — | — |
| 5 Sept 2026 · Technocraft Industries: 34th AGM notice and weblink sent to shareholders | compliance | minimal | — | — |
| 5 Sept 2026 · Technocraft Industries 34th AGM notice published in newspapers | compliance | minimal | — | — |
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.