Tulsyan NEC (BSE: TULSYAN) is loss-making over the last 12 months, losing ₹75 Cr, so a P/E ratio does not apply. Its share price on 6 Nov 2026 was ₹30.90, 33% below its 52-week high. Sales fell 7.5% a year over 3 years. Debt is 2.19× equity. It is a small-cap company with a market cap of ₹51 Cr, ranked 118th of 150 Steel companies by market cap; the shares fell 32% over the past year.
- ₹33.00
- ₹33.00
- ₹30.06
- ₹31.50
- 222
Health check
- ReturnsBehind
−32.3% over a year, better than 0 of 7 peers.
- Price tagLoss-making
Earnings were negative over the last 12 months.
- GrowthShrinking
Sales −7.5% a year over 3 years.
- ProfitabilityNegative
ROCE -11.7% vs peer median 18.7%.
- Balance sheetStretched
Debt 2.19× equity, operating profit doesn’t cover interest, Piotroski 5 of 9.
- Red flags5 to check
Loss-making over the last twelve months.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹51 Cr
- Small cap
- P/E
- n/a
- Industry 19.9
- Price to book
- 0.27
- Peers 2.28
- Dividend yield
- 0.00%
- ROE
- −29.6%
- Peers 23.4%
- ROCE
- −11.7%
- Peers 18.7%
- Debt to equity
- 2.19
- Debt ₹406 Cr
- EPS (TTM)
- −₹45.86
- OPM (TTM)
- −2.8%
- Net margin −10.8%
- Sales growth
- −43.0%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 0.07
- EV/EBITDA −23.7
Strengths and risks
Strengths
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Loss-making over the last twelve months.
- Return on equity is low at −29.6%.
- Debt is 2.19× equity.
- Quarterly sales down 43.0% on a year ago.
- 33% below its 52-week high.
About Tulsyan NEC
Tulsyan NEC Limited, together with its subsidiaries, manufactures and sells steel products in India and internationally. It operates through three segments: Steel Division, Synthetic Division, and Power. The company offers thermo mechanically treated (TMT) bars, billets, ignots, and sponge irons for construction sector; synthetic woven fabrics; and polypropylene woven sacks and flexible intermediate bulk containers, as well as thermal power. It exports…
- Headquarters
- Chennai
- Employees
- 358
- Sector
- Basic Materials
- ISIN
- INE463D01016
- Website
- tulsyannec.in
Price range
- Avg volume (3M)
- 2.2K
- 1-year return
- minus 32.3%
- From 52-week high
- minus 32.7%
Peers · Steel
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| JSWSTEELJSW Steel | 1,357.10 | plus 0.11% | 3,31,265 | 11.7 | 12.2 | 18.7% | 17.7% | 0.62 | 3.6% | plus 14.7% |
| TATASTEELTata Steel | 186.30 | plus 2.36% | 2,32,397 | 21.1 | 9.1 | 11.3% | 15.2% | 0.89 | −1.6% | plus 1.5% |
| JINDALSTELJindal Steel | 1,165.00 | plus 1.31% | 1,18,594 | 41.5 | 14.9 | 7.5% | 15.9% | 0.42 | −13.1% | plus 6.4% |
| LLOYDSMELloyds Metals And Energy | 1,785.50 | minus 1.38% | 1,00,482 | 19.1 | 18.8 | 19.4% | 37.4% | 1.23 | 71.3% | plus 37.4% |
| SAILSteel Authority of India | 171.60 | minus 0.41% | 70,880 | 12.6 | 8.1 | 7.2% | 12.9% | 0.50 | 2.0% | plus 24.7% |
| NMDCNMDC | 70.40 | minus 0.01% | 61,894 | 8.3 | 6.2 | 28.4% | 30.0% | 0.19 | 22.0% | minus 5.2% |
| APLAPOLLOAPL Apollo Tubes | 2,185.30 | minus 0.41% | 60,677 | 46.3 | 32.7 | 28.0% | 8.2% | 0.17 | 12.6% | plus 23.3% |
| TULSYANTulsyan NEC | 30.90 | minus 1.90% | 51 | – | – | −11.7% | −2.8% | 2.19 | −7.5% | minus 32.3% |
| Median of 7 peers | – | −0.01% | 1,00,482 | 19.1 | 12.2 | 18.7% | 15.9% | 0.50 | 3.6% | 14.7% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 257 | 229 | 156 | 165 | 147 | |
| 245 | 227 | 167 | 169 | 153 | |
| 12.5 | 2.4 | −11 | −4.3 | −6.3 | |
| 4.9% | 1.0% | −7.1% | −2.6% | −4.3% | |
| 0.1 | 15.4 | 5.6 | 11.1 | 10.8 | |
| 17.2 | 18.1 | 17.4 | 21.2 | 20.3 | |
| 5.7 | 5.8 | 5.8 | 5 | 5.6 | |
| −10.2 | −6.1 | −28.6 | −19.4 | −21.4 | |
| −10.2 | −6.1 | −28.6 | −19.4 | −21.4 | |
| -6.23 | -3.70 | -17.39 | -11.76 | -13.01 |
Profit & loss
- Sales CAGR 3Y
- −7.5%
- ROE
- −29.6%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,022 | 977 | 868 | 808 | |
| – | minus 4.4% | minus 11.1% | minus 7.0% | |
| 1,004 | 975 | 854 | 808 | |
| 17.6 | 2.1 | 13.9 | −0.3 | |
| 1.7% | 0.2% | 1.6% | 0.0% | |
| −11.4 | 17.4 | −62.7 | −67.6 | |
| 2.6 | 41.7 | 2.6 | 2.5 | |
| 26.4 | 25.4 | 22.9 | 22.3 | |
| 212 | – | 1.8 | 28.5 | |
| 189 | −47.7 | −72.6 | −64.3 | |
| −30.2% | −3.0% | – | – | |
| 246 | −49.1 | −72.6 | −64.3 | |
| 148.48 | -29.67 | -44.08 | -39.08 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 16.6 | 16.6 | 16.5 | 16.5 | |
| 379 | 327 | 233 | 169 | |
| 377 | 335 | 372 | 406 | |
| 161 | 177 | 229 | 214 | |
| 933 | 856 | 851 | 806 | |
| 572 | 551 | 536 | 509 | |
| – | 2.4 | 7.1 | 0.1 | |
| 0 | 29.9 | 31.2 | 33.4 | |
| 12.8 | 1.3 | 0.7 | 1.8 | |
| 348 | 271 | 276 | 261 | |
| 933 | 856 | 851 | 806 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 340 | 17.2 | 39 | 2.7 | |
| −0.2 | 52.8 | −10.2 | 38.3 | |
| −330 | −81.5 | −29.8 | −40 | |
| 10 | −11.5 | −0.9 | 1.1 | |
| −5 | −4.7 | −14.1 | −9.9 | |
| 335 | 12.5 | 24.9 | −7.2 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders. Institutions hold about 10.1% (Yahoo estimate).
Major shareholders
Filings & events
News
No recent news coverage found.