TBI Corn Q4 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹125 Cr
- P/E
- 6.83
- ROE
- 16.60%
- PEG
- 0.16
- Price to sales
- 0.42
- Debt to equity
- 0.58
- 52W high / low
- ₹94.8 / ₹56.5
- EBITDA margin
- 11.44%
- Net profit margin
- 6.07%
- Promoter holding
- 56.47%
- Sales (last year)
- ₹302 Cr
Incorporated in 2000, TBI Corn Ltd is a manufacturer and exporter of corn- based products[1]
Guidance scorecard · Q4 FY26 call
What TBI Corn's management guided
and where it ranks in Agricultural Food & other Products
Agricultural Food & other Products
RevenueQ4 FY26 call
40%+- The company targets a 35% CAGR in volume and revenue growth up to FY28.
- Current capacity utilization is at 72% of 350 TPD; plans to increase utilization to 96-97% across plants, driving growth.
- Expansion includes consolidation of TBI Maize Processors (120 TPD) with existing 390 TPD capacity, aiming to increase total processing capacity.
- Export revenue, currently ~10% of total, is targeted to reach 20% by FY27/FY28, focusing on premium markets like Japan and Korea for better margins.
2 more points from TBI Corn's call on revenue
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MarginsQ4 FY26 call
Up 0–2%See what TBI Corn said on margins — free account, 30 seconds.
CapexQ4 FY26 call
Planned- The company has operationalized an additional 40 TPD capacity at the Malkapur plant as of March 2026, increasing total capacity to 390 TPD.
- TBI Maize Processors, a 120 TPD export-oriented unit with imported Bühler machinery, is planned to be merged as a 100% owned subsidiary via share swap.
- Capacity utilization is expected to increase from 72% currently to 96-97% over time, driving revenue growth.
- There are plans to potentially double the capacity of the TBI Maize Processors unit from 120 to 240 TPD after stabilization, requiring storage expansion.
- The company is considering adding machinery for dry milling/corn flakes production at the export unit but no finalized decision yet.
2 more points from TBI Corn's call on capex
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FundraisingQ4 FY26 call
See what TBI Corn said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
- The company is targeting a 35% CAGR growth till FY28, reflecting confidence in future orders and volumes.
- Exports currently constitute about 10% of revenue, with a target to increase this to 20% by FY27-28.
- Discussions about exports highlight orders for 10 to 20 containers, indicating ongoing export order activity.
- Capacity utilization is increasing and new capacities are coming online (e.g., additional 40 TPD in Malkapur plant), which supports the ability to fulfill growing orders.
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Agricultural Food & other Products
on management's own guidance
- 2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Agricultural Food & other Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹890 Cr | 13.7 | |
| 2 | TBI CornThis stock | 40%+ | Up 0–2% | ₹125 Cr | 6.8 |
| 3 | 40%+ | Flat | ₹22 Cr | 9.0 | |
| 4 | 20–40% | Up 2%+ | ₹221 Cr | 15.1 | |
| 5 | 20–40% | Up 2%+ | ₹185 Cr | 17.4 | |
| 6 | 20–40% | Up 0–2% | ₹2,130 Cr | 27.1 |
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Pro shows every company guiding 40%+ revenue growth →Full Agricultural Food & other Products rankingFinancials of TBI Corn
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of TBI Corn
Quarterly Results
Quarter-by-quarter operating performance
Financials of TBI Corn
Profit & Loss
Annual income statement trend
| Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|
| Sales + | 158 | 211 | 254 |
| Expenses + | 140 | 187 | 225 |
| Operating Profit | 18 | 24 | 29 |
| OPM % | 11% | 11% | 11% |
| Other Income + | 1 | 2 | 2 |
| Interest | 4 | 5 | 6 |
| Depreciation | 1 | 2 | 3 |
| Profit before tax | 14 | 18 | 22 |
| Tax % | 26% | 25% | |
| Net Profit + | 10 | 14 | 16 |
| EPS in Rs | 7.55 | 7.51 | 9.01 |
| Dividend Payout % | 0% | 0% |
Financials of TBI Corn
Balance Sheet
Capital structure and asset base
| Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|
| Equity Capital | 13 | 18 | 18 |
| Reserves | 29 | 83 | 94 |
| Borrowings + | 46 | 65 | 87 |
| Other Liabilities + | 13 | 14 | 5 |
| Total Liabilities | 102 | 180 | 204 |
| Fixed Assets + | 8 | 17 | 18 |
| CWIP | 6 | 7 | 7 |
| Investments | 0 | 0 | 0 |
| Other Assets + | 88 | 156 | 178 |
| Total Assets | 102 | 180 | 204 |
Financials of TBI Corn
Cash Flows
Operating, investing and financing cash movement
| Mar 2024 | Mar 2025 | |
|---|---|---|
| Cash from Operating Activity + | -3 | -30 |
| Cash from Investing Activity + | -8 | -12 |
| Cash from Financing Activity + | 11 | 42 |
| Net Cash Flow | 0 | -0 |
| Free Cash Flow | -11 | -42 |
| CFO/OP | 4% | -105% |
Financials of TBI Corn
Ratios
Working capital efficiency and return ratios
| Mar 2024 | Mar 2025 | |
|---|---|---|
| Debtor Days | 72 | 79 |
| Inventory Days | ||
| Days Payable | ||
| Cash Conversion Cycle | 72 | 79 |
| Working Capital Days | 86 | 143 |
| ROCE % | 19% |
Continue your research
What TBI Corn's management said in earlier quarters
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