---
title: "Tamil Nadu Industrial Explosives Ltd (524028) — Share Price, Financials & Analysis"
symbol: "524028"
company: "Tamil Nadu Industrial Explosives Ltd"
canonical: "https://tapetide.com/stocks/524028"
bse_code: "524028"
generated_at: "2026-10-13T11:55:48.797Z"
---

# Tamil Nadu Industrial Explosives Ltd (524028)

Canonical page: https://tapetide.com/stocks/524028

## Company

- **BSE Code:** 524028
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No

## Latest Price

## Key Insights

### Strengths

- Debtor days have improved from 53.1 to 38.5 days.

### Weaknesses

- Company has low interest coverage ratio.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -106% | 13% | 6% |
| revenue growth | -13% | 22% | 5% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 155.46 | 106.99 | 188.94 | 105.11 | 121.82 | 130.55 | 224.32 | 106.6 | 45.05 | 166.38 |
| Expenses | 130.86 | 84.47 | 137.55 | 74.9 | 94.15 | 100.43 | 201.64 | 80.29 | 32.31 | 151.43 |
| Operating Profit | 24.6 | 22.52 | 51.39 | 30.21 | 27.67 | 30.12 | 22.68 | 26.31 | 12.74 | 14.95 |
| OPM % | 15.82 | 21.05 | 27.2 | 28.74 | 22.71 | 23.07 | 10.11 | 24.68 | 28.28 | 8.99 |
| Other Income | 1.15 | 0.88 | 2.35 | 1.23 | 0.95 | 1.09 | 1.6 | 1.11 | 1.29 | 1.37 |
| Interest | 5.01 | 7.87 | 6.26 | 6.59 | 6.9 | 8.29 | 5.94 | 5.62 | 5.61 | 7.44 |
| Depreciation | 2.02 | 1.51 | 1.52 | 1.62 | 1.95 | 1.45 | 1.78 | 1.77 | 1.73 | 1.72 |
| Profit before tax | 18.72 | 14.02 | 45.96 | 23.23 | 19.77 | 21.47 | 16.56 | 20.03 | 6.69 | 7.16 |
| Tax % | 25.21 | 24.11 | 26.41 | 38.83 | 23.72 | 24.27 | 32.37 | 25.21 | 25.56 | 27.93 |
| Net Profit | 14 | 10.64 | 33.82 | 14.21 | 15.08 | 16.26 | 11.2 | 14.99 | 4.98 | 5.17 |
| EPS in Rs | 3.9 | 2.97 | 9.43 | 3.96 | 4.2 | 3.49 | 2.4 | 3.22 | 1.07 | 1.11 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 |
| --- | --- | --- | --- | --- | --- | --- |
| Sales | 27.48 | 23.65 | 19 | 41.34 | 39.76 | 34.67 |
| Expenses | 41.35 | 40.36 | 34.33 | 47.03 | 41.72 | 41.91 |
| Operating Profit | -13.87 | -16.71 | -15.33 | -5.69 | -1.96 | -7.24 |
| OPM % | -50.47 | -70.66 | -80.68 | -13.76 | -4.93 | -20.88 |
| Other Income | 1.99 | 1.51 | 0.77 | 0.8 | 0.76 | 1.1 |
| Interest | 0.82 | 0.44 | 1.03 | 2.1 | 2.13 | 2.35 |
| Depreciation | 1.11 | 1.25 | 1.01 | 1.08 | 1.31 | 1.08 |
| Profit before tax | -13.81 | -16.89 | -16.6 | -8.07 | -4.64 | -9.57 |
| Tax % | 0.87 | 0.41 | 0.06 | 0.25 | 0 | 0 |
| Net Profit | -13.93 | -16.96 | -16.61 | -8.09 | -4.64 | -9.57 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 |
| --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 26.96 | 27.03 | 27.03 | 27.03 | 27.03 | 27.03 |
| Reserves | -30.35 | -47.39 | -64 | -72.09 | -76.73 | -86.3 |
| Borrowings | 53.79 | 47.32 | 62.74 | 70.68 | 72.5 | 76.25 |
| Other Liabilities | 15.29 | 16.23 | 16.64 | 16.74 | 17.57 | 22.79 |
| Total Liabilities | 65.69 | 43.19 | 42.41 | 42.36 | 40.37 | 39.77 |
| Fixed Assets | 18.88 | 17.65 | 17.66 | 16.64 | 15.57 | 14.61 |
| CWIP | 0.08 | 2 | 1.12 | 1.21 | 1.17 | 1.22 |
| Investments | 0 | 0 | 0.04 | 0.04 | 0.04 | 0.04 |
| Other Assets | 46.73 | 23.54 | 23.59 | 24.47 | 23.59 | 23.9 |
| Total Assets | 65.69 | 43.19 | 42.41 | 42.36 | 40.37 | 39.77 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 |
| --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -10.2 | -4.48 | — | — | 3.23 | -3.57 |
| Cash from Investing Activity | 0.46 | -1.47 | — | — | -0.06 | 0.34 |
| Cash from Financing Activity | 0.89 | -6.49 | — | — | -0.26 | 1.53 |
| Net Cash Flow | -8.85 | -12.44 | — | — | 2.91 | -1.7 |
| Free Cash Flow | -11.37 | -6.77 | — | — | 3.04 | -3.74 |
| CFO/OP | 74 | 27 | — | — | -165 | 50 |

### Ratios

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 |
| --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 44.1 | 30.25 | 51.48 | 84.23 | 36.44 | 38.53 |
| Inventory Days | 161.22 | 194.07 | 273.48 | 159.92 | 173.63 | 211.09 |
| Days Payable | 151.58 | 0 | 0 | 0 | 0 | 0 |
| Cash Conversion Cycle | 53.73 | 224.32 | 324.97 | 244.15 | 210.07 | 249.62 |
| Working Capital Days | 92.31 | 58.18 | 67.43 | 43.62 | 3.21 | -29.79 |
| ROCE % | — | -42.53 | -59.06 | -23.23 | -10.37 | -36.3 |

## Shareholding Pattern

### annual

| Category | Mar 2025 | Dec 2025 |
| --- | --- | --- |
| Promoters | 72.5% | 72.5% |
| FIIs | 0.08% | 0.23% |
| DIIs | 3.14% | 2.22% |
| Public | 24.27% | 25.05% |
| No. of Shareholders | 48791 | 42014 |

### Quarterly

| Category | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- |
| Promoters | 72.5% | 72.5% | 72.5% | 72.5% | 72.5% |
| FIIs | 2.64% | 0.08% | 0.08% | 0.56% | 0.23% |
| DIIs | 3.55% | 3.14% | 3.79% | 2.22% | 2.22% |
| Public | 21.31% | 24.27% | 23.64% | 24.71% | 25.05% |
| No. of Shareholders | 51336 | 48791 | 47615 | 43600 | 42014 |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2026-02-20 | [Update On Administrative Warning Issued By SEBI](https://www.bseindia.com/xml-data/corpfiling/AttachHis/199a6e48-b9ef-4432-8566-f9c6c2e1a0c4.pdf) |
| 2026-02-14 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f0a6d26b-2045-4191-a7a8-a02a71ff7315.pdf) |
| 2026-02-13 | [Un-Audited Financial Results As On 31.12.2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/43d4b821-9e02-4649-87f4-760c93a24658.pdf) |
| 2026-02-13 | [Announcement under Regulation 30 (LODR)-Monitoring Agency Report](https://www.bseindia.com/xml-data/corpfiling/AttachHis/def6e4d8-52bf-476a-9801-cff3866fa0af.pdf) |
| 2026-02-13 | [Statement Of Deviation For The Quarter Ended 31.12.2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f933e72f-89ef-4cf1-8770-26f1ac4922c5.pdf) |
| 2026-02-13 | [Board Meeting Outcome for Outcome Of Board Meeting](https://www.bseindia.com/xml-data/corpfiling/AttachLive/06256723-07a5-4afe-a7af-b2623db34c25.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| 2025 | [Financial Year 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3aaacabf-f348-4b38-8356-be26ba48b530.pdf) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2026-03-10 | Credit rating update — CRISIL |
| 2026-01-15 | Credit rating update — CRISIL |
| 2025-12-11 | Credit rating update — CRISIL |
| 2025-01-02 | Credit rating update — CRISIL |
| 2024-01-11 | Credit rating update — CARE Ratings |
| 2023-11-30 | Credit rating update — CRISIL |
| 2023-10-09 | Credit rating update — CARE Ratings |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-10-13T11:55:48.797Z.