Tulsyan NEC Ltd

BSE: TULSYAN513629ISIN INE463D01016

Industrials
Iron & Steel Products

Share price

₹30.90-1.60 (-4.92%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹46.59
52W low: ₹17.10
Off 52W high: -33.68%
1M return: +2.79%
3M return: -22.46%
6M return: -23.70%
1Y return: -33.55%
20D avg volume: 963
50 DMA: ₹30.09
200 DMA: ₹31.05

Key ratios Consolidated

Market cap: ₹50.87 Cr
Current price: ₹30.90
52W high / low: ₹46.59 / ₹17.10
Face value: ₹10.00
P/E: -0.67
P/B: 0.27
EPS (TTM): ₹-45.86
Book value / share: ₹112.71
ROE: —
ROCE: 1.80%
Operating margin: —
Net margin: —
Debt / equity: 2.19
Net debt: ₹404.80 Cr
Interest cover: 0.13
Dividend yield: —
Dividend / share (TTM): —
Payout: —
Cash conversion cycle: 9.5 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24
Income statement
	146.70	164.97	156.10	229.19	257.30	213.99	180.23	198.82	275.29	—
	10.80	11.13	5.56	15.38	0.14	1.18	0.30	0.64	1.34	—
	157.50	176.10	161.66	244.57	257.43	215.17	180.53	199.46	276.62	—
	178.91	195.46	190.28	250.66	267.68	257.00	207.49	203.80	276.04	—
	136.12	133.62	124.34	184.94	199.75	181.69	157.55	133.34	219.90	—
	0.95	0.73	0.00	0.40	10.32	2.89	—	5.95	0.43	—
	5.58	6.02	6.06	5.95	5.44	3.53	5.99	5.92	7.26	—
	20.32	21.20	17.41	18.05	17.18	39.01	9.02	9.13	9.75	—
	5.60	5.00	5.77	5.80	5.74	4.65	6.00	6.14	6.14	—
	25.60	28.64	28.64	32.78	33.38	32.20	10.33	8.21	20.00	—
	-21.41	-19.36	-28.63	-6.09	-10.25	-41.84	-26.96	-4.35	0.58	—
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—
	-21.41	-19.36	-28.63	-6.09	-10.25	-41.83	-26.96	-4.35	0.58	—
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—
	-21.41	-19.36	-28.63	-6.09	-10.25	-41.84	-26.96	-4.35	0.58	—
	-13.01	-11.76	-17.39	-3.70	-6.23	-25.41	-16.29	-2.63	0.35	—
Key metrics
	4.51	6.84	-5.45	17.76	12.67	1.83	-11.94	10.92	16.47	—
	3.10%	4.10%	-3.50%	7.70%	4.90%	0.90%	-6.60%	5.50%	6.00%	—
	-14.60%	-11.70%	-18.30%	-2.70%	-4.00%	-19.60%	-15.00%	-2.20%	0.20%	—
	—	0.30%	—	2.50%	—	-0.60%	—	—	—	—
	-43.00%	-22.90%	-13.40%	15.30%	-6.50%	—	—	—	—	—
	-108.90%	53.70%	-6.20%	-40.00%	-1,867.20%	—	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	696.96	807.55	868.32	—
	42.87	32.20	3.46	—
	739.83	839.75	871.78	—
	815.31	904.08	944.34	—
	579.02	642.64	692.49	—
	2.08	11.46	9.27	—
	23.61	23.48	22.70	—
	76.98	73.83	66.90	—
	22.17	22.31	22.94	—
	115.66	123.44	132.40	—
	-75.49	-64.33	-72.56	—
	0.00	0.00	0.00	—
	-75.49	-64.33	-72.56	—
	0.00	0.00	0.00	—
	-75.49	-64.33	-72.56	—
	-45.86	-39.08	-44.08	—
Key metrics
	23.66	31.81	17.28	—
	3.39%	3.90%	2.00%	—
	-10.83%	-8.00%	-8.40%	—
	—	1.80%	-1.10%	—
	-18.04%	-7.00%	—	—
	—	11.30%	—	—
	—	2.73	39.05	—
	—	-0.04	-0.54	—
	—	2.19	1.49	—
	—	404.80	372.08	—
	—	9.5	13.1	—
Balance sheet
	—	805.56	826.92	—
	—	194.63	187.13	—
	—	1.38	0.29	—
	—	97.20	98.12	—
	—	59.60	73.32	—
	—	36.03	15.31	—
	—	508.23	527.66	—
	—	135.57	140.14	—
	—	275.91	323.96	—
	—	406.18	372.37	—
	—	89.78	144.31	—
	—	316.40	228.06	—
	—	185.53	249.79	—
Cash flow
	—	2.73	39.05	—
	—	38.33	-10.17	—
	—	-39.97	-29.79	—
	—	0.00	0.00	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24
Income statement
	139.44	145.32	135.81	214.73	232.96	195.69	160.31	180.52	260.91	—
	0.07	10.22	5.56	15.38	0.14	1.13	0.30	0.63	1.34	—
	139.50	155.54	141.36	230.11	233.09	196.82	160.61	181.15	262.25	—
	170.35	175.03	169.38	236.03	244.09	238.26	187.50	185.92	261.86	—
	130.55	115.20	107.48	170.47	180.15	168.28	138.42	118.66	207.16	—
	0.00	0.73	0.00	0.40	7.96	0.52	—	5.95	0.43	—
	5.46	5.87	5.91	5.80	5.30	3.38	5.85	5.80	7.14	—
	19.70	20.32	16.75	17.37	16.50	38.24	8.29	8.49	9.12	—
	5.44	4.83	5.62	5.65	5.59	4.34	6.00	6.00	6.00	—
	24.81	27.64	27.70	31.67	32.66	30.29	10.28	7.17	19.26	—
	-30.85	-19.49	-28.02	-5.93	-11.00	-41.43	-26.89	-4.77	0.39	—
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—
	-30.85	-19.49	-28.02	-5.93	-11.00	-41.43	-26.89	-4.77	0.39	—
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—
	-30.85	-19.49	-28.02	-5.93	-11.00	-41.43	-26.89	-4.77	0.39	—
	-18.74	-11.84	-17.02	-3.60	-6.68	-25.17	-16.25	-2.88	0.24	—
Key metrics
	-5.71	5.66	-5.65	17.09	11.09	1.15	-12.60	9.72	15.51	—
	-4.10%	3.90%	-4.20%	8.00%	4.80%	0.60%	-7.90%	5.40%	5.90%	—
	-22.10%	-13.40%	-20.60%	-2.80%	-4.70%	-21.20%	-16.80%	-2.60%	0.10%	—
	—	0.20%	—	2.30%	—	-0.60%	—	—	—	—
	-40.10%	-25.70%	-15.30%	19.00%	-10.70%	—	—	—	—	—
	-180.50%	53.00%	-4.20%	-24.30%	-2,920.50%	—	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	635.30	728.82	797.43	—
	31.23	31.28	3.40	—
	666.51	760.10	800.83	—
	750.79	824.54	873.53	—
	523.70	573.30	632.52	—
	1.13	9.09	6.89	—
	23.04	22.87	22.17	—
	74.14	70.93	64.15	—
	21.54	21.70	22.35	—
	111.82	119.66	128.21	—
	-84.29	-64.44	-72.70	—
	0.00	0.00	0.00	—
	-84.29	-64.44	-72.70	—
	0.00	0.00	0.00	—
	-84.29	-64.44	-72.70	—
	-51.20	-39.15	-44.16	—
Key metrics
	11.39	28.19	13.80	—
	1.79%	3.90%	1.70%	—
	-13.27%	-8.80%	-9.10%	—
	—	1.20%	-1.60%	—
	-17.44%	-8.60%	—	—
	—	11.40%	—	—
	—	-1.01	35.54	—
	—	0.02	-0.49	—
	—	1.84	1.28	—
	—	383.21	350.20	—
	—	15.2	18.8	—
Balance sheet
	—	789.00	809.44	—
	—	188.00	179.46	—
	—	1.36	0.27	—
	—	92.71	94.75	—
	—	58.17	69.95	—
	—	35.31	14.40	—
	—	500.64	520.06	—
	—	120.40	123.64	—
	—	237.74	285.04	—
	—	384.57	350.47	—
	—	69.94	124.46	—
	—	314.63	226.01	—
	—	208.91	273.28	—
Cash flow
	—	-1.01	35.54	—
	—	38.92	-8.31	—
	—	-36.82	-28.12	—
	—	0.00	0.00	—

Compounded growth

Standalone

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): -17.44%
Profit YoY (TTM): -0.24%

Consolidated

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): -18.04%
Profit YoY (TTM): +9.48%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 64.20%

Quarter	September 2026	June 2026
Promoter %	64.20%	64.20%

Holder	Type	Holding	Previous	Change
SANJAY TULSYAN	Promoter	27.19%	27.19%	0.00%
LALIT KUMAR TULSYAN	Promoter	25.02%	25.02%	0.00%
India Special Assets Fund III (a scheme of ISAF III)	Public	6.99%	6.99%	0.00%
PRIYA TULSYAN	Promoter Group	5.80%	5.80%	0.00%
ALKA TULSYAN	Promoter Group	4.56%	4.56%	0.00%
ISAF III Onshore Fund (a scheme of Edelweiss Credit Opportunities Trust)	Public	3.14%	3.14%	0.00%
G B R METALS PRIVATE LIMITED	Public	1.02%	1.02%	0.00%
PRIYANKA SHARMA	Promoter Group	0.88%	0.88%	0.00%
PRERNA TULSYAN	Promoter Group	0.40%	0.40%	0.00%
ANTARA TULSYAN	Promoter Group	0.35%	0.35%	0.00%
LALIT KUMAR TULSYAN HUF	Promoter Group	0.00%	0.00%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Welspun Corp Limited	63,062	2,390.60	26.60	16.70%	+13.62% TTM	+9.55% TTM	+158.46%
APL Apollo Tubes Limited	61,038	2,198.30	46.60	28.20%	+15.83% TTM	+24.90% TTM	+23.52%
Shyam Metalics and Energy Limited S	34,361	1,231.00	58.56	12.00%	+6.12% TTM	+12.47% TTM	+38.81%
Ratnamani Metals & Tubes Ltd	17,199	2,453.80	33.44	16.30%	-16.31% TTM	-8.61% TTM	+0.53%
Jindal Saw Ltd.	16,202	253.35	32.58	10.80%	-0.73% TTM	-55.61% TTM	+48.64%
Usha Martin Ltd.	14,798	485.60	29.16	18.20%	+8.54% TTM	+25.85% TTM	+2.31%
GODAWARI POWER AND ISPAT LTD.	13,845	205.65	17.14	17.90%	+8.43% TTM	+8.78% TTM	-26.21%
GALLANTT ISPAT LIMITED	12,753	528.55	31.30	18.00%	+5.52% TTM	-17.31% TTM	-5.83%
Jayaswal Neco Industries Ltd S	8,906	91.72	12.94	24.20%	+18.34% TTM	+82.81% TTM	+21.19%
Aeroflex Industries Limited	7,504	567.10	83.87	16.50%	+55.03% TTM	+87.04% TTM	+210.65%
Maharashtra Seamless Ltd.	7,450	556.00	10.11	13.00%	-12.21% TTM	-16.12% TTM	-3.03%
Sunflag Iron & Steel Co. Ltd.	7,070	392.30	34.35	3.70%	+9.35% TTM	+4.58% TTM	+48.12%
Shivalik Bimetal Controls Ltd.	6,178	1,072.50	58.24	25.00%	+27.78% TTM	+33.44% TTM	+130.55%
Technocraft Industries (India) Ltd.	6,166	2,719.40	17.69	19.30%	+12.39% TTM	+33.31% TTM	+12.14%
Man Industries (India) Ltd	5,756	767.35	28.17	16.10%	+10.75% TTM	+26.33% TTM	+94.91%
Goodluck India Limited	5,412	542.70	24.86	19.40%	+18.76% TTM	+31.22% TTM	+32.51%
SAMBHV STEEL TUBES LIMITED	4,886	165.80	25.04	17.50%	—	—	+41.23%
Bansal Wire Industries Limited	4,681	59.80	5.97	16.20%	+20.27% TTM	+2.82% TTM	-2.99%
Surya Roshni Ltd.	4,492	206.40	14.41	15.00%	+11.69% TTM	+8.34% TTM	-31.93%
Electrosteel Castings Ltd.	4,241	68.60	35.12	5.10%	-15.69% TTM	-78.91% TTM	-23.36%
Venus Pipes & Tubes Limited S	3,813	1,840.60	40.76	22.80%	+21.73% TTM	+15.01% TTM	+45.10%
Kalyani Steels Ltd	3,774	864.65	13.40	16.20%	-1.11% TTM	+8.01% TTM	+1.58%
Kirloskar Industries Ltd	3,479	3,308.30	10.24	—	+3.82% TTM	-0.15% TTM	-12.15%
Vardhman Special Steels Ltd S	3,454	356.90	21.41	13.50%	+14.75% TTM	+68.58% TTM	+20.94%
Ratnaveer Precision Engineering Limited S	3,192	380.35	41.84	13.30%	+21.02% TTM	+45.53% TTM	—
Tulsyan NEC Ltd	51	30.90	-0.67	1.80%	-18.04% TTM	+9.48% TTM	-33.55%

Filings & corporate actions

Recent announcements

Tulsyan NEC Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 11/11/2026 ,inter alia, to consider and approve unaudited standalone and consolidated ....4 Nov 2026 · Board Meeting / Board Meeting
Compliance Certificate under Regulation 74(5) of SEBI (DP) Regulations, 201813 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Closure of Trading Window29 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
E-voting Results and Scrutinizer''s Report of 79th AGM of the Company21 Sep 2026 · AGM/EGM / AGM
Video recording link of 79th AGM of the company20 Sep 2026 · Company Update / General
Change in Statutory Auditors of the Company19 Sep 2026 · Company Update / Appointment of Statutory Auditor/s
Outcome and Proceedings of 79th AGM19 Sep 2026 · AGM/EGM / AGM
Annual Report 2025-26 of Tulsyan NEC Limited28 Aug 2026 · Others / Reg. 34 (1) Annual Report
Intimation of 79th AGM Notice and Annual Report 2025-2628 Aug 2026 · AGM/EGM / AGM
Newspaper Advertisement-Financial Results for the quarter ended June 30, 2026.11 Aug 2026 · Company Update / Newspaper Publication
Financial Results for the quarter ended June 30, 202610 Aug 2026 · Result / Financial Results
Outcome of Board Meeting held on August 10, 202610 Aug 2026 · Board Meeting / Outcome of Board Meeting
Tulsyan NEC Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 10/08/2026 ,inter alia, to consider and approve un-audited standalone and consolidated ....4 Aug 2026 · Board Meeting / Board Meeting
Intimation regarding disinvestment / transfer of shares held in subsidiary company.16 Jul 2026 · Company Update / Diversification / Disinvestment
Compliance Certificate under Reg.74(5) of SEBI (DP) Regulations, 201814 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Closure of Trading Window29 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
Newspaper Advertisement - Audited Financials Results of the Company for the quarter and year ended March 31, 2026.31 May 2026 · Company Update / Newspaper Publication
Revised outcome of Board Meeting and financial results due to correction in consolidated cash flow statement30 May 2026 · Company Update / General
Audited standalone and consolidated financial results of the Company for the quarter and year ended March 31, 202630 May 2026 · Result / Financial Results
Outcome of Board Meeting held on May 30, 202630 May 2026 · Board Meeting / Outcome of Board Meeting
Annual Secretarial Compliance Report for the year ended March 31, 202626 May 2026 · Company Update / Reg.24(A)-Annual Secretarial Compliance
Tulsyan NEC Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 30/05/2026 ,inter alia, to consider and approve audited standalone and consolidated ....22 May 2026 · Board Meeting / Board Meeting
Intimation on Resignation of Whole Time Director8 May 2026 · Company Update / Resignation of Director
Outcome of the Board Meeting held on May 02, 2026 pertaining to execution of the Registered Mortgage2 May 2026 · Others / Outcome without intimation
Compliance Certificate under Regulation 74(5) of SEBI (DP) Regulations, 20187 Apr 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Intimation on closure of trading window25 Mar 2026 · Insider Trading / SAST / Closure of Trading Window
Addendum to Execution of Power Purchase Agreement21 Mar 2026 · Company Update / General
Execution of Power Purchase Agreement (PPA)20 Mar 2026 · Company Update / General
Newspaper Advertisement - Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and nine months ended December 31, 202514 Feb 2026 · Company Update / Newspaper Publication
Financial Results ( standalone and consolidated) for the quarter and nine months ended December 31, 202513 Feb 2026 · Result / Financial Results
Outcome of Board Meeting held on February 13, 202613 Feb 2026 · Board Meeting / Outcome of Board Meeting
Tulsyan NEC Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 13/02/2026 ,inter alia, to consider and approve unaudited standalone and consolidated ....3 Feb 2026 · Board Meeting / Board Meeting
Disclosure of Compliance Certificate under Regulation 74(5) of SEBI (DP) Regulations, 20187 Jan 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Closure of Trading Window for the quarter and nine months ending December 31, 202529 Dec 2025 · Insider Trading / SAST / Closure of Trading Window
Intimation for sale of land18 Dec 2025 · Company Update / General
Newspaper Advertisement - Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and half year ended on September 30, 202513 Nov 2025 · Company Update / Newspaper Publication
Financial Results for the quarter and half year ended 30-09-202512 Nov 2025 · Result / Financial Results
Outcome of Board Meeting held on 12-11-202512 Nov 2025 · Board Meeting / Outcome of Board Meeting
Disclosure on default in payment of interest amount on NCDs6 Nov 2025 · Company Update / General
Tulsyan NEC Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 12/11/2025 ,inter alia, to consider and approve unaudited standalone and consolidated ....4 Nov 2025 · Board Meeting / Board Meeting

Board meetings

10 Aug 2026 Board Meeting - Financial Results