Tirupati Starch & Chemicals Ltd.

BSE: TIRUSTA · Other Food Products

52W Range₹115 ₹219

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Snapshot

Unlock Tirupati Starch & Chemicals Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Tirupati Starch and Chemicals Limited is an agro-processing company based in Madhya Pradesh that manufactures maize starch and its derivatives. Its product portfolio serves diverse industrial sectors including pharmaceuticals, textiles, paper, and food processing.

Business Model

The company generates revenue by processing maize into high-value industrial ingredients and selling valuable by-products like maize germ, gluten, and cattle feed. It leverages its strategic location in the central Indian maize belt to maintain efficient supply chain operations.

Growth Outlook

Growth is driven by the company's integrated processing capabilities and its ability to supply value-added ingredients to both domestic and export markets. The firm continues to focus on maintaining quality standards to expand its footprint across various industrial applications.

Key Risks

  • Raw Material Price Volatility. Fluctuations in maize prices directly impact production costs and profit margins due to the company's reliance on agricultural commodities.
  • Regulatory and Environmental Compliance. As a manufacturing entity in the agro-processing sector, the company is subject to stringent environmental regulations regarding waste management and industrial discharge.
  • Supply Chain Dependency. The company's operations are heavily dependent on the availability and quality of maize crops from the central Indian belt, making it vulnerable to seasonal and climatic risks.
  • Competitive Market Pressure. The starch and derivatives industry is highly competitive, requiring constant investment in efficiency and product quality to maintain market share against domestic and international players.

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Key Metrics

REVENUE

₹363 Cr

TTM · consolidated

-5.9%YoY

NET PROFIT

₹7 Cr

TTM · consolidated

-13.3%YoY

EPS

₹6.82

TTM · consolidated

-13.1%YoY

RETURN ON EQUITY

10.5%

TTM · consolidated

-3.1 ppYoY

RETURN ON CAPITAL EMPLOYED

13.9%

TTM · standalone

+0.0 ppYoY

P/E

22.8x

Q4 FY26 · consolidated

22.8 vs 60.3x5Y avg

EV/EBITDA

8.6x

Q4 FY26 · consolidated

8.6 vs 10.3x5Y avg

EBITDA MARGIN

7.6%

TTM · consolidated

+0.2 ppYoY

NET PROFIT MARGIN

2.7%

Q4 FY26 · consolidated

+1.1 ppYoY

DEBT TO EQUITY

1.6x

Q4 FY26 · consolidated

-0.59xYoY

Peers · Other Food Products

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Tirupati Starch & Chemicals Ltd.TIRUSTA
₹133 Cr20.388.86-5.9%7.6%10.5%13.9%-24.8%
Manorama Industries LimitedMANORAMA
₹11,926 Cr45.7530.4159.8%27.2%43.6%61.6%+39.4%
Orkla India Ltd.ORKLAINDIA
₹8,156 Cr27.6917.3018.3%10.7%13.7%
Apis IndiaAPIS
₹739 Cr2.9019.2514.1%10.6%13.3%19.5%-88.2%
Pajson Agro India LimitedPAJSON
₹502 Cr14.0%
NutricircleNUTRICIRCLE
₹278 Cr862.07928.67555.0%1.7%4.9%4.3%+118.2%

As of Q4 FY26

Financials