Thejo Engineering Limited (THEJO) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Thejo Engineering Limited ₹610, price ₹2,071, upside -70.6%, quality 53 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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Thejo Engineering Limited
THEJO · NSEStretched ValuationStrong overvaluation with only moderate quality.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 2, 2026.
How to read this chart
60‑month range ₹740.84 – ₹3,570 · fair‑value band ₹317.10 – ₹1,096 · the ₹2,071 price screens above the ₹610.07 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 2, 2026.
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Company profile
Thejo Engineering Limited designs, develops, manufactures, and supplies rubber and polyurethane based engineering products for bulk material handling systems, mineral processing, and corrosion protection applications in India and internationally. It operates through three segments: Manufacturing Units, Service Units, and Others.
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Thejo Engineering Limited designs, develops, manufactures, and supplies rubber and polyurethane based engineering products for bulk material handling systems, mineral processing, and corrosion protection applications in India and internationally. It operates through three segments: Manufacturing Units, Service Units, and Others. The company provides conveyor care products, including belt conveyor splicing and repair solutions, pulley lagging sheets, vulcanizing equipment, and belt coiler and de coiler products, as well as school tool kits, such as hand and power tools, and personal protective equipment; and transfer point solutions comprising belt cleaners and trackers, impact cushion pads, skirt sealing systems, and engineered chutes. It also offers high pressure fogging systems for dust suppression; flow promotion products; and abrasion and wear protection products, including mill lining, bulk flow chutes, wear resistant panels and sheeting, and twister cyclone and pump spares, as well as rubber hoses, lined pipes, and fittings; and other services. In addition, the company provides corrosion protection products comprising rubber sheeting, hoses, lined pipes, and fittings; and primers adhesive and repair putty products, expansion joints and bellows, fabrication and linings, and PTFE linings and bellows. Further, it offers scalping and sizing, de-watering, flip flow, and trommel screening solutions, as well as grator spares; rubber, engineered plastic, and metallic spares; and specialty products. Additionally, the company provides conveyor belt, project execution, transfer point, abrasion and wear, filtration, screening, and corrosion protection services. It serves steel, mining, mineral processing, aggregates, sand and gravel, power, metal, chemical and fertilizer, cement, paper and pulp, and food and grain industries, as well as ports and terminals. The company was founded in 1974 and is based in Chennai, India.
Stock analysis
Thejo Engineering Limited (THEJO) currently trades at ₹2,071, while our model-based Fair Value estimate is ₹610.07, 70.6% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹948.16 per share, and 0 of the 25 models we run sit above the ₹2,071 price.
Bear case: the Growth DCF group reads lowest at ₹196.37, and 25 of the 25 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹317.10 (bear) to ₹1,096 (bull), the price of ₹2,071 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 53/100 (solid quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Thejo Engineering Limited reported revenue of ₹6.3B in FY2026 versus ₹4.2B in FY2022, a compound +10.5%/yr. Reported net income was ₹493M in FY2026, compounding +7.0%/yr from FY2022.
Key figures
Market cap ₹22.5B (≈ $233M) · P/E ratio 40.2 · P/S ratio 3.13 · EPS (TTM) ₹51.51 · Dividend yield 0.2% · Net margin 7.8% · Return on equity 14.0% · Return on assets (EBIT) 15.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 7% below its 52-week high and 42% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −49% fair-value upside, at −71%, THEJO screens richer than that median.
Fair Value models
All 25 models by family
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Set up alert →Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 67
Revenue & earnings trend
Growth Forecast
THEJO screens overvalued: fair value 71% below the price. Compare with GE Vernova Inc →
Compare Thejo Engineering Limited with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Specialty Industrial Machinery · 782 stocks
Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Industrials
- Undervalued stocks: Indian Stocks
- Valuation of the India market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| GE Vernova Inc GEV | $950.49 | $142.61 | −85% |
| SIE SIE | €271.90 | €150.42 | −45% |
| Eaton Corporation ETN | $433.27 | $173.12 | −60% |
| Parker-Hannifin Corporation PH | $970.37 | $494.81 | −49% |
| Emerson Electric Co EMR | $155.10 | $62.54 | −60% |
| Illinois Tool Works Inc ITW | $257.28 | $153.33 | −40% |
| Cummins Inc CMI | $516.57 | $359.11 | −30% |
| AMETEK, Inc AME | $250.74 | $125.77 | −50% |
| Rockwell Automation, Inc ROK | $434.15 | $139.31 | −68% |
| Sandvik AB SAND | kr 378.00 | kr 193.59 | −49% |
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Frequently asked questions
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Key figures of Thejo Engineering Limited
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