---
title: "TPI India Ltd (TPINDIA) — Share Price, Financials & Analysis"
symbol: "TPINDIA"
company: "TPI India Ltd"
canonical: "https://tapetide.com/stocks/TPINDIA"
bse_code: "500421"
sector: "Industrials"
industry: "Industrial Products"
generated_at: "2026-10-13T10:58:00.895Z"
---

# TPI India Ltd (TPINDIA)

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

## Company

- **BSE Code:** 500421
- **Sector:** Industrials
- **Industry:** Industrial Products
- **Macro Sector:** Industrials
- **Face Value:** ₹1
- **F&O Eligible:** No
- **Website:** tpiindia.in

## About

Incorporated in 1982, TPI India Ltd manufactures Polymer based packing products[1]

## Latest Price

- **Price:** ₹17.53
- **Change:** -0.92 (-4.99%)
- **Open:** ₹17.53
- **Day High:** ₹18
- **Day Low:** ₹17.53
- **Previous Close:** ₹18.45
- **Volume:** 12163
- **As Of:** 2026-10-13T10:20:02+00:00

## Key Insights

### Weaknesses

- Debtor days have increased from 35.4 to 46.8 days.
- Promoter holding has decreased over last 3 years: -34.8%

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 550% | -46% | 25% |
| revenue growth | 17% | 17% | 13% |

## 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 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 5.32 | 6.07 | 7.12 | 6.27 | 7.63 | 8.19 | 8.09 | 6.84 | 8.93 | 8.39 | 9.85 | 8.71 |
| Expenses | 5.51 | 6.04 | 7.09 | 6.05 | 7 | 7.48 | 7.34 | 6.49 | 8.25 | 7.45 | 7.73 | 7.91 |
| Operating Profit | -0.19 | 0.03 | 0.03 | 0.22 | 0.63 | 0.71 | 0.75 | 0.35 | 0.68 | 0.94 | 2.12 | 0.8 |
| OPM % | -3.57 | 0.49 | 0.42 | 3.51 | 8.26 | 8.67 | 9.27 | 5.12 | 7.61 | 11.2 | 21.52 | 9.18 |
| Other Income | 0 | -0.04 | 0.21 | 0 | 0 | 0 | 0.01 | 0.01 | 0 | 0.01 | 0.26 | 0 |
| Interest | 0.37 | 0.39 | 0.44 | 0.28 | 0.32 | 0.37 | 0.36 | 0.33 | 0.32 | 0.29 | 0.24 | 0.27 |
| Depreciation | 0.06 | 0.07 | 0.09 | 0.15 | 0.16 | 0.17 | 0.16 | 0.13 | 0.14 | 0.14 | 0.14 | 0.14 |
| Profit before tax | -0.62 | -0.47 | -0.29 | -0.21 | 0.15 | 0.17 | 0.24 | -0.1 | 0.22 | 0.52 | 2 | 0.39 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6.5 | 0 |
| Net Profit | -0.62 | -0.47 | -0.29 | -0.21 | 0.15 | 0.17 | 0.24 | -0.11 | 0.22 | 0.51 | 1.87 | 0.39 |
| EPS in Rs | -0.14 | -0.11 | -0.07 | -0.05 | 0.03 | 0.04 | 0.06 | -0.03 | 0.05 | 0.12 | 0.44 | 0.09 |

### Profit & Loss

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

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 27.46 | 22.79 | 16.75 | 18.33 | 22.81 | 21.3 | 23.75 | 30.18 | 34 | 35.88 |
| Expenses | 30.18 | 29.89 | 18.48 | 19.63 | 22.95 | 20.63 | 23.44 | 27.86 | 29.92 | 31.34 |
| Operating Profit | -2.72 | -7.1 | -1.73 | -1.3 | -0.14 | 0.67 | 0.31 | 2.32 | 4.08 | 4.54 |
| OPM % | -9.91 | -31.15 | -10.33 | -7.09 | -0.61 | 3.15 | 1.31 | 7.69 | 12 | 12.65 |
| Other Income | 0.1 | 0.02 | 0.01 | 0.06 | 0.09 | 16.28 | 1.98 | 0.01 | 0.28 | 0.27 |
| Interest | 1.03 | 0.71 | 0.6 | 0.64 | 0.66 | 0.82 | 1.55 | 1.33 | 1.18 | 1.12 |
| Depreciation | 0.72 | 0.68 | 0.66 | 0.45 | 0.26 | 0.23 | 0.28 | 0.65 | 0.55 | 0.56 |
| Profit before tax | -4.37 | -8.47 | -2.98 | -2.33 | -0.97 | 15.9 | 0.46 | 0.35 | 2.63 | 3.13 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.94 | — |
| Net Profit | -4.37 | -8.47 | -2.98 | -2.33 | -0.97 | 15.9 | 0.46 | 0.35 | 2.49 | 2.99 |
| EPS in Rs | -1.02 | -1.97 | -0.69 | -0.54 | -0.23 | 3.7 | 0.11 | 0.08 | 0.58 | 0.7 |
| 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 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 |
| Reserves | -16.08 | -20.45 | -28.93 | -31.91 | -34.24 | -35.21 | -19.31 | -18.85 | -18.49 | -16 |
| Borrowings | 26.45 | 22.71 | 22.12 | 22.01 | 22.23 | 22.34 | 12.54 | 15.49 | 16.66 | 17.5 |
| Other Liabilities | 9.17 | 12.4 | 13.09 | 13.6 | 16.54 | 16.36 | 9.35 | 7.94 | 6.86 | 6.81 |
| Total Liabilities | 23.84 | 18.96 | 10.58 | 8 | 8.83 | 7.79 | 6.88 | 8.88 | 9.33 | 12.61 |
| Fixed Assets | 5.49 | 4.84 | 4.16 | 3.5 | 3.15 | 2.93 | 2.76 | 3.76 | 3.32 | 3.37 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.04 |
| Investments | 0.07 | 0.07 | 0.07 | 0.08 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.1 |
| Other Assets | 18.28 | 14.05 | 6.35 | 4.42 | 5.59 | 4.77 | 4.03 | 5.03 | 5.92 | 9.1 |
| Total Assets | 23.84 | 18.96 | 10.58 | 8 | 8.83 | 7.79 | 6.88 | 8.88 | 9.33 | 12.61 |

### Cash Flow

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

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 3.68 | -0.53 | 1.33 | 0.68 | 0.69 | 1.25 | 10.63 | -2.51 | 0.88 | 1.26 |
| Cash from Investing Activity | -0.22 | 0.03 | 0.03 | 0 | -0.09 | -0.03 | -0.07 | 0.85 | -0.2 | -0.65 |
| Cash from Financing Activity | -3.46 | -0.24 | -1.26 | -0.76 | -0.63 | -1.25 | -10.58 | 1.72 | -0.71 | -0.08 |
| Net Cash Flow | 0.01 | -0.74 | 0.1 | -0.09 | -0.03 | -0.03 | -0.01 | 0.06 | -0.03 | 0.53 |
| Free Cash Flow | 3.42 | -0.59 | 1.33 | 0.68 | 0.59 | 1.21 | 10.56 | -1.66 | 0.68 | 0.62 |
| CFO/OP | -76 | 19 | -19 | -39 | -53 | -893 | 1587 | -810 | 38 | 31 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 101.78 | 101.15 | 42.92 | 23.97 | 32.86 | 31.52 | 26.56 | 27.66 | 31.69 | 46.81 |
| Inventory Days | 55.39 | 62.69 | 42.4 | 50.11 | 64.43 | 49.09 | 50.69 | 59.45 | 46.3 | 59.87 |
| Days Payable | 64 | 67.85 | 95.94 | 153.34 | 45.81 | 33.35 | 49.94 | 37.1 | 62.14 | 71.11 |
| Cash Conversion Cycle | 93.17 | 96 | -10.62 | -79.26 | 51.47 | 47.26 | 27.31 | 50.01 | 15.85 | 35.57 |
| Working Capital Days | -162.61 | -282.32 | -466.86 | -656.56 | -623.07 | -514.78 | -147.71 | -90.67 | -130.62 | -93.61 |
| ROCE % | -27.44 | -31.46 | -383.21 | — | — | — | — | — | 99.12 | 92.14 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Dec 2020 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 93.61% | 93.61% | 93.5% | 93.5% | 93.5% | 93.51% | 93.51% | 93.51% | 75% | 58.71% | 58.71% |
| DIIs | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
| Public | 6.37% | 6.37% | 6.48% | 6.48% | 6.48% | 6.46% | 6.46% | 6.47% | 24.98% | 41.27% | 41.28% |
| No. of Shareholders | 6883 | 6859 | 6847 | 6845 | 6840 | 6841 | 6828 | 6782 | 7819 | 8528 | 8577 |

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 93.51% | 93.51% | 93.51% | 75% | 75% | 75% | 75% | 75% | 58.71% | 58.71% | 58.71% | 58.71% |
| DIIs | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
| Public | 6.46% | 6.46% | 6.47% | 24.97% | 24.98% | 24.97% | 24.98% | 24.98% | 41.28% | 41.27% | 41.27% | 41.28% |
| No. of Shareholders | 6829 | 6829 | 6782 | 7424 | 7651 | 7834 | 7819 | 7841 | 8776 | 8702 | 8528 | 8577 |

## Technical Indicators

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

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 12 / 5 / 2

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 18.49 | Buy |
| EMA (10) | 18.68 | Buy |
| SMA (20) | 18.65 | Buy |
| EMA (20) | 18.74 | Buy |
| SMA (50) | 18.98 | Buy |
| EMA (50) | 18.64 | Buy |
| SMA (100) | 17.92 | Buy |
| EMA (100) | 18.17 | Buy |
| SMA (200) | 17.37 | Buy |
| EMA (200) | 17.64 | Buy |

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

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 54.88 | Neutral |
| MACD (12,26,9) | -0.1 | Buy |
| Stochastic (14,3,3) | 73.48 | Neutral |
| ADX (14) | 15.01 | Neutral |
| Williams %R (14) | -14.55 | Sell |
| ATR (14) | 1.26 | High Volatility |
| ROC (12) | 6.76 | Buy |
| Stoch RSI (14) | 100 | Sell |
| UO (7,14,28) | 62.88 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2026-10-01 | [Shareholder Meeting / Postal Ballot-Scrutinizer''s Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=cf3a45cf-25e0-4529-8ca6-edff17d7ac08.pdf) |
| 2026-09-29 | [Shareholder Meeting / Postal Ballot-Outcome of AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=994ed866-a199-4b2a-b474-32529da8087e.pdf) |
| 2026-09-25 | [Closure of Trading Window](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c0610607-46c4-4dac-9683-c9193005b02f.pdf) |
| 2026-09-08 | [Intimation Of Cut-Off Date For Remote E-Voting And Closure Of Register Of Members & Share Transfer Books For The Purpose Of The 44Th Annual General Meeting (AGM).](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c569ee1f-1ed2-4b5d-85b5-82056eed5a69.pdf) |
| 2026-09-07 | [Submission Of Annual Report Of FY 2025-26 And Notice Of 44Th Annual General Meeting (AGM) Of TPI India Limited Under Regulation 34 Of SEBI (Listing Obligations And Disclosures Requirements) Regulations, 2015](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d4252470-74e8-4426-b993-77d049a7a18b.pdf) |
| 2026-09-07 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=196e695b-f132-41a6-9108-11471929a26e.pdf) |
| 2026-09-07 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f3bce72d-0154-4572-b8a4-df2f2e92cb03.pdf) |
| 2026-09-04 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b32e7f7b-27d8-4ebe-82b8-1713135d85fe.pdf) |
| 2026-09-04 | [Disclosure Of Board Meeting Held On Friday, September 4, 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3eedffd5-49cc-4fb5-8266-56a378ee858e.pdf) |
| 2026-08-17 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ee6a6c1e-ecf0-4c93-8e08-26e03de910bb.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| 2026 | [Annual Report 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/196e695b-f132-41a6-9108-11471929a26e.pdf) |
| 2025 | [Annual Report 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/847dc13c-7efa-4804-a0c8-d948dc034989.pdf) |
| 2024 | [Annual Report 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/cbfc06be-8134-4575-8745-f8b1a06810ad.pdf) |
| 2023 | [Annual Report 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/012fec7a-db05-4bb9-ad71-be704d96199e.pdf) |
| 2022 | [Annual Report 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9594a27e-fa0e-4670-bc81-261714fe7ec8.pdf) |
| 2021 | [Annual Report 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/fe7d369f-850f-4c9f-9dec-3d088ecd3f96.pdf) |
| 2020 | [Annual Report 2020](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2e8529c0-8d3a-48ad-8001-c340bcbd7d92.pdf) |
| 2019 | [Annual Report 2019](https://www.bseindia.com/xml-data/corpfiling/AttachHis/88b74f0b-c869-4e9c-bb1b-7148a9949aeb.pdf) |
| Mar 2018 | [Annual Report 2018](https://www.bseindia.com/bseplus/AnnualReport/500421/5004210318.pdf) |
| Mar 2017 | [Annual Report 2017](https://www.bseindia.com/bseplus/AnnualReport/500421/5004210317.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 2026-10-13T10:58:00.895Z.