Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of TGV Sraac Ltd
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 529 | 415 | 360 | 402 | 368 | 379 | 428 | 455 | 487 | 491 | 500 | 448 | 511 |
| Expenses + | 462 | 368 | 333 | 358 | 354 | 337 | 360 | 399 | 428 | 396 | 407 | 371 | 426 |
| Operating Profit | 67 | 48 | 27 | 44 | 14 | 42 | 68 | 56 | 59 | 95 | 93 | 77 | 85 |
| OPM % | 13% | 11% | 8% | 11% | 4% | 11% | 16% | 12% | 12% | 19% | 19% | 17% | 17% |
| Other Income + | 3 | 5 | 24 | 4 | 25 | 3 | 2 | 4 | 5 | 5 | 3 | 6 | 2 |
| Interest | 9 | 5 | 5 | 6 | 7 | 6 | 5 | 6 | 9 | 7 | 6 | 4 | 7 |
| Depreciation | 19 | 20 | 21 | 21 | 22 | 21 | 21 | 21 | 25 | 40 | 40 | 42 | 42 |
| Profit before tax | 41 | 27 | 25 | 21 | 10 | 19 | 44 | 32 | 30 | 52 | 50 | 38 | 38 |
| Tax % | 24% | 27% | 27% | 27% | 28% | 26% | 26% | 26% | 28% | 26% | 26% | 26% | 27% |
| Net Profit + | 32 | 20 | 19 | 15 | 7 | 14 | 33 | 24 | 22 | 39 | 37 | 28 | 28 |
| EPS in Rs | 2.95 | 1.84 | 1.74 | 1.42 | 0.67 | 1.28 | 3.07 | 2.22 | 2.03 | 3.62 | 3.46 | 2.62 | 2.61 |
Financials of TGV Sraac Ltd
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 777 | 816 | 908 | 1,046 | 1,205 | 1,040 | 1,009 | 1,525 | 2,326 | 1,546 | 1,749 | 1,950 |
| Expenses + | 669 | 710 | 776 | 866 | 974 | 884 | 860 | 1,219 | 1,786 | 1,412 | 1,520 | 1,601 |
| Operating Profit | 108 | 107 | 132 | 180 | 231 | 157 | 149 | 306 | 539 | 134 | 230 | 350 |
| OPM % | 14% | 13% | 15% | 17% | 19% | 15% | 15% | 20% | 23% | 9% | 13% | 18% |
| Other Income + | 0 | 5 | 9 | 7 | -6 | 8 | 10 | 7 | 6 | 58 | 14 | 16 |
| Interest | 40 | 44 | 60 | 58 | 71 | 44 | 48 | 35 | 30 | 25 | 30 | 24 |
| Depreciation | 36 | 35 | 47 | 77 | 58 | 56 | 63 | 69 | 74 | 84 | 88 | 164 |
| Profit before tax | 32 | 33 | 34 | 53 | 95 | 64 | 48 | 209 | 442 | 83 | 125 | 178 |
| Tax % | 30% | 26% | 52% | 44% | 28% | 26% | 40% | 36% | 18% | 27% | 26% | 26% |
| Net Profit + | 22 | 24 | 17 | 30 | 68 | 47 | 29 | 134 | 362 | 61 | 92 | 132 |
| EPS in Rs | 2.81 | 2.95 | 1.90 | 3.22 | 7.08 | 4.65 | 2.70 | 12.53 | 33.77 | 5.67 | 8.60 | 12.32 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 3% | 18% | 12% | 0% |
Financials of TGV Sraac Ltd
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 79 | 83 | 87 | 92 | 97 | 102 | 107 | 107 | 107 | 107 | 107 | 107 |
| Reserves | 199 | 236 | 259 | 290 | 382 | 435 | 503 | 636 | 939 | 989 | 1,071 | 1,190 |
| Borrowings + | 346 | 451 | 476 | 439 | 328 | 420 | 499 | 461 | 234 | 321 | 357 | 356 |
| Other Liabilities + | 194 | 202 | 255 | 269 | 289 | 319 | 344 | 393 | 402 | 374 | 432 | 470 |
| Total Liabilities | 818 | 972 | 1,078 | 1,091 | 1,095 | 1,275 | 1,453 | 1,598 | 1,683 | 1,792 | 1,968 | 2,124 |
| Fixed Assets + | 444 | 660 | 698 | 669 | 636 | 808 | 774 | 902 | 1,042 | 1,048 | 1,269 | 1,231 |
| CWIP | 124 | 0 | 0 | 13 | 77 | 29 | 125 | 55 | 11 | 168 | 12 | 220 |
| Investments | 2 | 2 | 9 | 14 | 10 | 8 | 89 | 89 | 31 | 33 | 35 | 35 |
| Other Assets + | 248 | 309 | 371 | 394 | 373 | 430 | 465 | 551 | 600 | 542 | 651 | 637 |
| Total Assets | 818 | 972 | 1,078 | 1,091 | 1,095 | 1,275 | 1,453 | 1,598 | 1,683 | 1,792 | 1,968 | 2,124 |
Financials of TGV Sraac Ltd
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 65 | 50 | 142 | 153 | 202 | 122 | 132 | 168 | 429 | 164 | 195 | 338 |
| Cash from Investing Activity + | -52 | -132 | -109 | -75 | -55 | -188 | -163 | -147 | -169 | -223 | -170 | -312 |
| Cash from Financing Activity + | -2 | 91 | -33 | -76 | -145 | 65 | 58 | -38 | -255 | 49 | -3 | -46 |
| Net Cash Flow | 11 | 9 | -0 | 2 | 2 | -0 | 26 | -18 | 5 | -9 | 22 | -20 |
| Free Cash Flow | 13 | -82 | 52 | 72 | 113 | -35 | 6 | 42 | 260 | -79 | 52 | 9 |
| CFO/OP | 62% | 54% | 112% | 91% | 94% | 90% | 98% | 67% | 99% | 136% | 96% | 110% |
Financials of TGV Sraac Ltd
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 25 | 29 | 30 | 37 | 30 | 29 | 36 | 56 | 36 | 44 | 52 | 55 |
| Inventory Days | 50 | 82 | 79 | 89 | 125 | 167 | 126 | 101 | 90 | 101 | 108 | 88 |
| Days Payable | 65 | 77 | 98 | 80 | 67 | 73 | 81 | 66 | 42 | 38 | 75 | 92 |
| Cash Conversion Cycle | 10 | 34 | 11 | 45 | 89 | 123 | 81 | 90 | 84 | 107 | 86 | 50 |
| Working Capital Days | -83 | -80 | -97 | -72 | -11 | -22 | -34 | -1 | 17 | 1 | -5 | -4 |
| ROCE % | 13% | 11% | 12% | 13% | 22% | 12% | 9% | 21% | 38% | 5% | 10% | 13% |
EBITDA margin improvement potential in explosive business to reach mid-teens (18-19% global benchmarks), with combined Solar-BME margins currently at 13-14%…
The net debt has already been reduced significantly from Rs.922 Crores at acquisition to Rs.531 Crores. Key concall takeaways from Sudarshan Chemical…
250-260 crores in FY27 with about 20% EBITDA margin, growing at 11-12% annually in absolute terms. Key concall takeaways from Indo Borax & Chemicals Ltd's Q1…
Chemicals business is guided for 15-20% growth in FY27, with a strong Q1 performance positioning the company to possibly hit the higher end of this range (Page…