Assembled from the company's filings and exchange data as of today. Download PDF renders this page on the server; the narrative sections arrive with the Nexa composer.
Dossier · TULSYAN NEC LTD. · 29 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
TULSYAN NEC LTD.
BSE: 513629
BSE: 513629
Industrials › Capital Goods › Industrial Products › Iron & Steel Products
TULSYAN NEC LTD.
StateQ4 FY26 filed
Last close · 28 Oct 2026₹32.40
Market cap₹0.1k cr
TTM P/E · P/B · EV/EBITDA— · 0.29 · 14.4
TULSYAN NEC LTD. is a Industrial Products company. The annual-report business brief for this company has not been generated yet; the numbers below are as filed.
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 850 | 1,022 | 977 | 868 | 808 |
| EBITDA (ex other income) | 823 | 227 | 2 | 14 | (0) |
| margin % | 96.8 | 22.2 | 0.2 | 1.6 | (0.0) |
| Owners' profit | 791 | 131 | (49) | (73) | (64) |
| EPS, as reported (₹) | 537.50 | 78.85 | (29.67) | (44.08) | (39.08) |
| ROE % · ROCE % | 550.2 · 259.4 | 33.0 · 30.7 | (14.3) · (1.0) | (29.0) · (1.1) | (34.7) · 1.8 |
| Debt / equity (x) | 4.44 | 0.96 | 0.97 | 1.49 | 2.19 |
| Cash from operations | 864 | 340 | 17 | 39 | 3 |
| Capex | (4) | (5) | 0 | 0 | 0 |
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · TULSYAN NEC LTD. · 29 October 2026Page 2 of 3
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 | 275 | 199 | 180 | 214 | 257 | 229 | 156 | 165 |
| Profit before tax | 1 | (4) | (27) | (42) | (10) | (6) | (29) | (19) |
| Net profit | 1 | (4) | (27) | (42) | (10) | (6) | (29) | (19) |
| EPS (₹) | 0.35 | (2.63) | (16.29) | (25.41) | (6.23) | (3.70) | 17.39 | (11.76) |
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
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. % |
|---|---|---|---|---|---|---|---|---|
| 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 |
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 0.3 | 1.5 | 4 of 101 | 96% |
| ROCE | (12.2) | 9.1 | 108 of 115 | 6% |
| ROE | (34.7) | 8.6 | 100 of 103 | 3% |
| Debt / Equity | 2.2 | 0.2 | 99 of 101 | 2% |
| EBITDA margin | 4.1 | 11.0 | 80 of 100 | 20% |
| Revenue growth | (22.9) | 13.7 | 83 of 97 | 15% |
| Profit growth | 53.7 | 29.3 | 42 of 105 | 61% |
| Market cap | 53 | 216 | 83 of 122 | 32% |
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · TULSYAN NEC LTD. · 29 October 2026Page 3 of 3
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 13 Oct 2026 · Compliance Certificate for Q2 FY27 under SEBI DP Regulations | compliance | minimal | — | — |
| 29 Sept 2026 · Trading window closed for Q2 and H1 FY26 results | compliance | minimal | — | — |
| 21 Sept 2026 · 79th AGM results: all 4 resolutions cleared with requisite majority | board shareholder meetings | low | — | — |
| 20 Sept 2026 · Video recording of 79th AGM uploaded on company website | investor communications | low | — | — |
| 19 Sept 2026 · New statutory auditor SRBR and Associates LLP appointed for 5-year term | management changes | medium | — | — |
| 19 Sept 2026 · Tulsyan NEC 79th AGM held; 4 resolutions passed via e-voting | board shareholder meetings | medium | — | — |
| 28 Aug 2026 · Tulsyan NEC files Annual Report 2025-26; 79th AGM set for Sept 19, 2026 | compliance | medium | — | — |
| 28 Aug 2026 · 79th AGM Notice and FY26 Annual Report - Sept 19, 2026 | board shareholder meetings | low | — | — |
| 11 Aug 2026 · Newspaper ad published for Q1 FY26 financial results | compliance | minimal | — | — |
| 10 Aug 2026 · Tulsyan NEC Q1 loss widens to Rs 30.85 cr; revenue down 40 percent | results | high | — | — |
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
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.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in