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Thirani Projects

538464 BSE
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Thirani Projects (TPROJECT) share price was ₹2.94 at the 28 Oct 2026 close; market capitalisation ₹5.98 Cr; sector Financial Services. The share price fell 38.4% over the year to 28 Oct 2026 (adjusted for splits and bonuses). In the Jun 2026 quarter, revenue was ₹0.25 Cr, against ₹0.22 Cr a year earlier and net profit was −₹2.75 Cr, against ₹0.17 Cr a year earlier (compared with Jun 2025). Promoters held 0.00% of Thirani Projects in Sep 2026, unchanged from Jun 2026. Its Tapetide Score is 40/100 (Weak) as of 28 Oct 2026.

Close 28 Oct 2026 ₹2.94 −1.81 −38.11% 1Y

Key Fundamentals

MicrocapFinanceFinancial Services
Market Cap
₹5.98 Cr
EBITDA
₹70.00 L
Return on Equity
3.67%
Debt to Equity
0.04
Book Value
₹6.37
EPS (TTM)
−₹1.21
52W High
₹5.30
52W Low
₹2.46

Price-based figures as of 28 Oct 2026, 15:30 IST · EPS basis: Standalone · TTM

Peer Comparison

Financial Services › NBFC › Non Banking Financial Company (NBFC)

Bajaj Finance
₹920.2526.415,72,943 Cr4.650.66%16.53%10.71%89,874 Cr22,067 Cr
Shriram Finance
₹832.5514.741,95,903 Cr1.760.79%15.18%11.00%51,245 Cr11,318 Cr
Tata Capital
₹313.3024.341,32,992 Cr2.710.19%10.38%8.56%34,329 Cr5,478 Cr
Cholamandalam Investment
₹1,555.6022.941,32,897 Cr3.850.14%17.17%9.46%33,147 Cr5,751 Cr
Muthoot Finance
₹2,444.208.6398,127 Cr2.421.25%26.67%15.43%33,526 Cr11,457 Cr
L&T Finance
₹250.0019.6762,659 Cr2.141.14%10.64%10.11%20,742 Cr3,198 Cr
SBI Cards
₹538.0022.5151,198 Cr2.980.47%13.78%18.31%21,048 Cr2,275 Cr
Thirani Projects (this company)
——6 Cr0.460.00%3.67%5.33%1 Cr-2 Cr
Median 8 companies₹832.5522.511,15,512 Cr2.570.57%14.48%10.41%33,337 Cr5,615 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the live price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

40 Weak
Overall score

Data confidence 88/100

Category scores

Quality Poor 29
Returns, margins, earnings quality 22% weight
Valuation Good 56
Cheap vs sector & own history 24% weight
Growth Good 58
Sales & profit trajectory 9% weight
Financial Health Poor 1
Solvency, leverage, coverage 9% weight
Momentum Poor 16
Trend strength, vol-adjusted 12% weight
Ownership Average 50
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company is almost debt free.
  • Stock is trading at 0.50 times its book value

Weaknesses

3
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 3.56% over past five years.
  • Company has a low return on equity of -12.8% over last 3 years.

Technical Indicators

Oscillators

Bearish

Bearish
2
Neutral
7
Bullish
0

Overall

Bearish

Bearish
12
Neutral
7
Bullish
0

Moving Averages

Bearish

Bearish
10
Neutral
0
Bullish
0

Growth Rate

Revenue Growth
22.22% higher than 3Y

change over 1 year

Net Income Growth
-28.57% lower than 3Y

change over 1 year

Cash Flow Change
-63.64%

change over 1 year

EBITDA Margin Change
46.87%

change over 1 year

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
0.21
0.21
0.21
0.2
0.2
0.2
0.21
0.24
0.22
0.26
0.26
0.28
0.25
Expenses
0.18
0.09
0.09
6.84
0.15
0.14
0.09
0.06
0.05
0.1
0.12
0.04
2.98
Financing Profit
0.03
0.12
0.12
-6.64
0.05
0.06
0.12
0.18
0.17
0.08
0.16
0.21
-2.75
Fin. Margin %
14.29%
57.14%
57.14%
-3320%
25%
30%
57.14%
75%
77.27%
30.77%
61.54%
75%
-1100%
Other Income
0
0
0
0
0
0
0
0
0
0
0
0.04
0
Interest
0
0
0
0
0
0
0
0
0
0.08
-0.02
0.03
0.02
Depreciation
0
0
0
0
0
0
0
0
0
0
0
0
0
PBT
0.03
0.12
0.12
-6.64
0.05
0.06
0.12
0.18
0.17
0.08
0.16
0.25
-2.75
Tax %
0%
0%
0%
0%
0%
0%
0%
-188.89%
0%
0%
0%
76%
0%
Net Profit
0.03
0.12
0.12
-6.64
0.05
0.06
0.12
0.51
0.17
0.08
0.16
0.06
-2.75
EPS (₹)
0.01
0.06
0.06
-3.29
0.02
0.03
0.06
0.25
0.08
0.04
0.08
0.03
-1.36
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
1.37
1.57
3.66
2.67
1.41
0.95
0.89
0.84
0.78
0.83
0.86
1.06
1.05
Expenses
0.87
1.15
3.5
2.22
1.42
1.01
1.06
0.69
1.46
7.21
0.44
0.31
3.24
Financing Profit
0.5
0.42
0.16
0.45
-0.01
-0.06
-0.17
0.15
-0.68
-6.38
0.41
0.66
-2.3
Fin. Margin %
36.5%
26.75%
4.37%
16.85%
-0.71%
-6.32%
-19.1%
17.86%
-87.18%
-768.67%
47.67%
62.26%
-219.05%
Other Income
0
0
0
0
0
0
0
0
0
0
0
0
0.04
Interest
0
0
0
0
0
0
0
0
0
0
0.01
0.09
0.11
Depreciation
0.01
0.01
0
0
0
0
0
0
0
0
0
0
0
PBT
0.49
0.41
0.16
0.45
-0.01
-0.06
-0.17
0.15
-0.68
-6.38
0.41
0.66
-2.26
Tax %
42.86%
31.71%
31.25%
26.67%
-100%
0%
0%
6.67%
0%
0%
-82.93%
28.79%
—
Net Profit
0.28
0.28
0.11
0.33
0
-0.06
-0.17
0.14
-0.68
-6.38
0.75
0.47
-2.45
EPS (₹)
0.14
0.14
0.05
0.16
0
-0.03
-0.08
0.07
-0.34
-3.16
0.37
0.23
-1.21
Div. Payout %
0%
0%
0%
0%
—
0%
0%
0%
0%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
20.21
20.21
20.21
20.21
20.21
20.21
20.21
20.21
20.21
20.21
20.21
20.21
Reserves
0.25
0.52
0.62
0.97
-0.58
-0.63
-0.49
-1.42
-0.92
-8.5
-7.75
-7.33
Borrowing
0
0
0
0
0
0
0
0
0
0
0
1.13
Other Liabilities
0.22
0.25
0.06
0.04
0.03
0.14
0.09
0.09
0.24
1.54
1.52
1.53
Total Liabilities
20.68
20.98
20.89
21.22
19.66
19.72
19.81
18.88
19.53
13.25
13.98
15.54
Fixed Assets
0
0
0
0
0
0
0
0
0
0
0
0
CWIP
0
0
0
0
0
0
0
0
0
0
0
0
Investments
6.9
6.15
5.02
4.52
8.77
8.78
9.09
8.02
8.25
1.26
1.26
1.2
Other Assets
13.78
14.83
15.87
16.7
10.89
10.94
10.72
10.86
11.28
11.99
12.72
14.34
Total Assets
20.68
20.98
20.89
21.22
19.66
19.72
19.81
18.88
19.53
13.25
13.98
15.54
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-11.74
-0.57
-1.14
-0.21
-5.82
0.05
-0.06
2.06
-2.17
-0.17
-0.11
-0.18
Investing
11.88
0.75
1.13
0.5
5.86
-0.66
0.6
0
0.03
0.33
0
0
Financing
-0.01
0
0
0
0
0
0
0
0
0
0
0
Net Cash Flow
0.13
0.18
-0.01
0.29
0.04
-0.61
0.53
2.06
-2.14
0.16
-0.11
-0.18
Free Cash Flow
-11.74
-0.57
-1.14
-0.21
-5.82
0.05
-0.06
2.06
-2.17
-0.17
-0.11
-0.18
CFO/OP
-2,348
-110
-631
-20
58,000
-83
35
1,407
307
1
-7
-11
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
1.38%
1.36%
0.53%
1.57%
0%
-0.31%
-0.87%
0.73%
-3.57%
-41.16%
6.21%
3.71%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Thirani Projects insights

49 extracted metrics + investor summaries across FY11–FY27.

Shareholding Pattern

Others58.91%Public41.09%As ofSep 2026

Documents

Frequently Asked Questions about Thirani Projects

What does Thirani Projects Ltd do?
Incorporated in 1983, Thirani Projects Ltd is in the business of Investing and Financing[1]
Where is Thirani Projects Ltd (TPROJECT) listed?
Thirani Projects Ltd trades under code 538464 on the BSE.
Which sector does Thirani Projects Ltd belong to?
Thirani Projects Ltd is classified under the Financial Services sector, in the NBFC industry.
What is the market capitalisation of Thirani Projects Ltd?
Thirani Projects Ltd has a market capitalisation of ₹5.98 Cr as of 28 Oct 2026, which places it in the Small Cap band.
What is the 52-week high and low of Thirani Projects Ltd?
Over the last 52 weeks Thirani Projects Ltd has traded between ₹2.46 and ₹5.3 as of 28 Oct 2026.
What is the Return on Equity (ROE) of Thirani Projects Ltd?
Thirani Projects Ltd reported a return on equity of 3.67%. Its debt-to-equity ratio is 0.04.

Company Information

Incorporated in 1983, Thirani Projects Ltd is in the business of Investing and Financing[1]

Website thiraniprojects.com
Face Value ₹ 10
Shares Outstanding 2,03,44,828

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