---
title: "TCI Developers Ltd (TCIDEVELOP) — Share Price, Financials & Analysis"
symbol: "TCIDEVELOP"
company: "TCI Developers Ltd"
canonical: "https://tapetide.com/stocks/TCIDEVELOP"
isin: "INE662L01016"
nse_symbol: "TCIDEVELOP"
sector: "Consumer Discretionary"
industry: "Realty"
generated_at: "2026-09-13T18:57:18.192Z"
---

# TCI Developers Ltd (TCIDEVELOP)

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

## Company

- **NSE Symbol:** TCIDEVELOP
- **ISIN:** INE662L01016
- **Sector:** Consumer Discretionary
- **Industry:** Realty
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2011-04-19
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** tcidevelopers.com

## About

TCI Developers Limited was incorporated in 2008 as a real estate arm of TCI Group, which has been created to look into the development of the commercial properties of TCI.  The co. is engaged in the business of Real estate and Warehousing development activities. The properties are developed into Offices Complexes, Residential Buildings, depending on the best use of the properties. Mr D. P Agarwal is the Chairman of the co. [1] [2] [3]

## Latest Price

- **Price:** ₹389
- **Change:** 0 (0%)
- **Open:** ₹393
- **Day High:** ₹393
- **Day Low:** ₹388.05
- **Previous Close:** ₹389
- **Volume:** 0
- **As Of:** 2022-11-10T04:40:23+00:00

## Key Insights

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of 1.34% over past five years.
- Company has a low return on equity of 1.90% over last 3 years.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -27% | -47% | -15% |
| revenue growth | 1% | 7% | 1% |

## Financial Statements

### Quarterly Results

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

| Item | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 2.52 | 2.42 | 2.37 | 2.45 | 2.82 | 2.91 | 2.75 | 2.79 | 2.78 | 2.69 | 2.83 | 3.05 |
| Expenses | 1.43 | 1.54 | 1.11 | 1.41 | 1.37 | 1.77 | 1.29 | 1.83 | 1.68 | 2.15 | 1.88 | 1.63 |
| Operating Profit | 1.09 | 0.88 | 1.26 | 1.04 | 1.45 | 1.14 | 1.46 | 0.96 | 1.1 | 0.54 | 0.95 | 1.42 |
| OPM % | 43.25 | 36.36 | 53.16 | 42.45 | 51.42 | 39.18 | 53.09 | 34.41 | 39.57 | 20.07 | 33.57 | 46.56 |
| Other Income | 0.08 | 0.05 | 0.03 | 0.02 | 0.02 | 0.02 | 0.01 | 0.03 | 0.04 | 0.03 | 0.01 | 0.12 |
| Interest | 0.05 | 0.05 | 0.06 | 0.05 | 0.05 | 0.05 | 0.05 | 0.26 | 0.05 | 0.05 | 0.05 | 0.13 |
| Depreciation | 0.37 | 0.37 | 0.37 | 0.37 | 0.38 | 0.62 | 0.44 | 0.45 | 0.45 | 0.44 | 0.45 | 0.42 |
| Profit before tax | 0.75 | 0.51 | 0.86 | 0.64 | 1.04 | 0.49 | 0.98 | 0.28 | 0.64 | 0.08 | 0.46 | 0.99 |
| Tax % | 14.67 | 27.45 | 29.07 | 39.06 | 27.88 | 46.94 | 31.63 | 50 | 32.81 | 125 | 36.96 | 30.3 |
| Net Profit | 0.63 | 0.37 | 0.61 | 0.39 | 0.74 | 0.25 | 0.68 | 0.14 | 0.43 | -0.02 | 0.29 | 0.68 |
| EPS in Rs | 1.61 | 0.88 | 1.5 | 0.97 | 1.88 | 0.56 | 1.72 | 0.27 | 1.05 | -0.16 | 0.64 | 1.72 |

### Profit & Loss

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

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 3.14 | 8.39 | 9.25 | 10.3 | 10.71 | 9.05 | 9.97 | 10.54 | 11.01 | 11.35 |
| Expenses | 1.83 | 2.02 | 2.16 | 3.44 | 5.19 | 5.53 | 5.65 | 5.63 | 6.91 | 7.34 |
| Operating Profit | 1.31 | 6.37 | 7.09 | 6.86 | 5.52 | 3.52 | 4.32 | 4.91 | 4.1 | 4.01 |
| OPM % | 41.72 | 75.92 | 76.65 | 66.6 | 51.54 | 38.9 | 43.33 | 46.58 | 37.24 | 35.33 |
| Other Income | -0.38 | 1.76 | -0.23 | 2.02 | 1.46 | 13.68 | 0.4 | 0.08 | 0.07 | 0.2 |
| Interest | 0.01 | 2.71 | 2.2 | 2.94 | 1.8 | 0.45 | 0.47 | 0.22 | 0.41 | 0.28 |
| Depreciation | 0.23 | 1.46 | 1.45 | 1.57 | 1.52 | 1.5 | 1.48 | 1.74 | 1.78 | 1.76 |
| Profit before tax | 0.69 | 3.96 | 3.21 | 4.37 | 3.66 | 15.25 | 2.77 | 3.03 | 1.98 | 2.17 |
| Tax % | 14.49 | 19.44 | 23.05 | 19.91 | 19.13 | 7.74 | 27.8 | 33.99 | 37.88 | — |
| Net Profit | 0.58 | 3.19 | 2.47 | 3.5 | 2.97 | 14.07 | 2 | 1.99 | 1.24 | 1.38 |
| EPS in Rs | 1.5 | 8.42 | 6.6 | 9.38 | 7.94 | 37.67 | 4.96 | 4.91 | 2.87 | 3.25 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

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

| Item | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 3.73 | 3.73 | 3.73 | 3.73 | 3.73 | 3.73 | 3.73 | 3.73 | 3.73 | 3.73 |
| Reserves | 50.53 | 51.1 | 53.98 | 56.18 | 59.92 | 62.88 | 79.04 | 78.81 | 80.64 | 81.66 |
| Borrowings | 12.55 | 31.21 | 29.59 | 25.85 | 37.66 | 23.95 | 17.01 | 10.07 | 9.95 | 9.97 |
| Other Liabilities | 13.08 | 16.67 | 20.59 | 23.12 | 14.43 | 14.43 | 12.96 | 14.98 | 16.67 | 16.94 |
| Total Liabilities | 79.89 | 102.71 | 107.89 | 108.88 | 115.74 | 104.99 | 112.74 | 107.59 | 110.99 | 112.3 |
| Fixed Assets | 60.68 | 61.93 | 89.99 | 89.84 | 98.53 | 97.11 | 84.8 | 86.01 | 95.66 | 94.62 |
| CWIP | 13.91 | 36.02 | 10.09 | 10.26 | 0.21 | 0.58 | 3.21 | 5.71 | 0.02 | 0.24 |
| Investments | 0.1 | 0.1 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 2.63 |
| Other Assets | 5.2 | 4.66 | 7.81 | 8.78 | 17 | 7.3 | 24.73 | 15.87 | 13.31 | 14.81 |
| Total Assets | 79.89 | 102.71 | 107.89 | 108.88 | 115.74 | 104.99 | 112.74 | 107.59 | 110.99 | 112.3 |

### Cash Flow

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

| Item | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -1.43 | 4.34 | 8.42 | 7.07 | 7.72 | 4.23 | 0.85 | 2.54 | 5.62 | 2.94 |
| Cash from Investing Activity | -6.48 | -22.57 | -1.7 | -1.9 | 1.81 | 0.99 | 19.43 | -5.42 | -4.35 | -1.63 |
| Cash from Financing Activity | 6.06 | 18.2 | -4.34 | -6.2 | -0.94 | -15.5 | -7.4 | -7.4 | -0.34 | -0.38 |
| Net Cash Flow | -1.85 | -0.03 | 2.38 | -1.03 | 8.6 | -10.28 | 12.88 | -10.29 | 0.93 | 0.94 |
| Free Cash Flow | -24.9 | -19.76 | 6.37 | 5.27 | 9.11 | 5.06 | 21.54 | -5.28 | 3.19 | 1.83 |
| CFO/OP | -53 | 370 | 152 | 114 | 123 | 106 | 95 | 81 | 135 | 120 |

### Ratios

| Item | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 0 | 1.16 | 3.92 | 33.94 | 11.34 | 0.68 | 1.21 | 36.98 | 14.54 | 0.66 |
| Cash Conversion Cycle | 0 | 1.16 | 3.92 | 33.94 | 11.34 | 0.68 | 1.21 | 36.98 | 14.54 | 0.66 |
| Working Capital Days | 156.03 | -365 | -91.36 | -40.64 | -425.6 | -531.99 | -476.72 | -223.69 | 79.65 | -41.11 |
| ROCE % | 2.26 | 1.27 | 5.09 | 5.84 | 5.69 | 4.24 | 7.92 | 3.33 | 3.39 | 2.5 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Sep 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 74.82% | 74.82% | 74.82% | 74.82% | 70.13% | 74.22% | 91.57% |
| FIIs | 0.01% | 0.01% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 2.75% | 2.75% | 2.75% | 0.01% | 0% | 0% | 0% |
| Public | 22.42% | 22.42% | 22.43% | 25.17% | 29.87% | 25.77% | 8.42% |
| No. of Shareholders | 14015 | 13265 | 8899 | 8090 | 7333 | 7537 | 6887 |

### Quarterly

| Category | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 74.82% | 74.82% | 74.82% | 74.82% | 74.82% | 70.13% | 70.13% | 74.22% | 74.22% | 74.22% | 74.22% | 91.57% |
| DIIs | 0.01% | 0.01% | 0.01% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 25.17% | 25.17% | 25.17% | 25.18% | 25.18% | 29.87% | 29.87% | 25.77% | 25.77% | 25.77% | 25.77% | 8.42% |
| No. of Shareholders | 8157 | 8090 | 8269 | 7561 | 7447 | 7333 | 7866 | 7784 | 7623 | 7537 | 7370 | 6887 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Buy
- **Buy / Neutral / Sell:** 9 / 7 / 3

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 389.38 | Sell |
| EMA (10) | 389.32 | Sell |
| SMA (20) | 388.54 | Buy |
| EMA (20) | 388.62 | Buy |
| SMA (50) | 387.86 | Buy |
| EMA (50) | 385.83 | Buy |
| SMA (100) | 380.55 | Buy |
| EMA (100) | 378.63 | Buy |
| SMA (200) | 358.75 | Buy |
| EMA (200) | 368.06 | Buy |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 51.68 | Neutral |
| MACD (12,26,9) | 0.98 | Sell |
| Stochastic (14,3,3) | 71.85 | Neutral |
| ADX (14) | 17.29 | Neutral |
| Williams %R (14) | -29.48 | Neutral |
| ATR (14) | 8.98 | Neutral |
| ROC (12) | 0.78 | Buy |
| Stoch RSI (14) | 21.35 | Neutral |
| UO (7,14,28) | 57.82 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 31 Oct 2022 - TCI Developers Limited has informed about Closure of trading window | [Closure of trading window 31 Oct 2022 - TCI Developers Limited has informed about Closure of trading window](https://archives.nseindia.com/corporate/TCIDEVELOP_31102022153406_TDLbm.pdf) |
| 28 Oct 2022 - The trading in the equity shares of the company TCI Developers Limited (TCIDEVELOP) shall be suspended w.e.f. November 11, 2022 (i.e. w.e.f. closing hours of … | [Delisting 28 Oct 2022 - The trading in the equity shares of the company TCI Developers Limited (TCIDEVELOP) shall be suspended w.e.f. November 11, 2022 (i.e. w.e.f. closing hours of …](https://www.nseindia.com/get-quotes/equity?symbol=TCIDEVELOP) |
| 20 Oct 2022 - TCI Developers Limited has informed about Loss of share certificate | [Loss of share certificate 20 Oct 2022 - TCI Developers Limited has informed about Loss of share certificate](https://archives.nseindia.com/corporate/TCIDEVELOP_20102022175227_TDlloss.pdf) |
| 10 Oct 2022 - TCI Developers Limited has informed about Please find enclosed herewith duly signed Certificate dated October 04, 2022 pursuant to Regulation 74(5) of SEBI (Depositories and … | [General updates 10 Oct 2022 - TCI Developers Limited has informed about Please find enclosed herewith duly signed Certificate dated October 04, 2022 pursuant to Regulation 74(5) of SEBI (Depositories and …](https://archives.nseindia.com/corporate/TCIDEVELOP_10102022143357_REG74.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2012 from nse](https://archives.nseindia.com/annual_reports/AR_TCIDEVELOP_2011_2012_02072012121851.zip) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/533393/72982533393.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/533393/68765533393.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/533393/5333930320.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/533393/5333930319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/533393/5333930318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/533393/5333930317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/533393/5333930316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/533393/5333930315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/533393/5333930314.pdf) |

---

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 2026-09-13T18:57:18.192Z.