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Tirupati Forge Limited (TIRUPATIFL) Fair Value & Analysis

Industrials · IN · Market cap ₹8.2B

TF Tirupati Forge Limited TIRUPATIFL · NSE
Price₹64.24
Fair Value₹7.69
Upside-88.0%
Quality30/100
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Expensive Growth
Thin margins · 3.9% net margin
Low debt · negative free cash flow
Trails peers (4/12)
Narrow moat 27/100
Evidence: Medium Range ₹5.77 – ₹9.91 Share as image

Fair value as of: Aug 13, 2026

From 14 valuation models · updated 4 days ago

Share price −5.8% over the past month.

Below-average quality, and screening another 88% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹9.91). The favourable scenario is already priced in.
  • Weak quality (30/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

₹81.55 ₹7.05 Fair Value ₹7.69 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹7.05 – ₹81.55 · fair‑value band ₹5.77 – ₹9.91 · the ₹64.24 price screens above the ₹7.69 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Tirupati Forge Limited (TIRUPATIFL) currently trades at ₹64.24, while our model-based Fair Value estimate is ₹7.69, implying the stock looks roughly 88.0% overvalued today. The Quality Score stands at 30/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Tirupati Forge Limited generated revenue of ₹1.6B at a net margin of 3.9%. Revenue grew 52.4% year over year. It earns a return on equity of 5.2%. Net debt stands at ₹350M. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹5.77 (bear case) to ₹9.91 (bull case); at ₹64.24, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 11% below its 52-week high and 113% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -59% fair-value upside, at -88%, TIRUPATIFL screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income ₹8.44 ₹8.43 ₹7.78 76
ROIC Compounder ₹3.10 ₹3.82 ₹4.43 72
Growth-Adj P/E ₹13.20 ₹18.86 ₹24.51 68
All 14 models by family
Earnings-Based
Graham-Dodd ₹3.62 ₹25.24 ₹35.42 54
Lynch FV ₹10.62 ₹15.17 ₹19.73 50
PEG = 1.0 ₹10.62 ₹15.17 ₹19.73 46
EPV ₹3.10 ₹3.82 ₹4.43 59
Multiples
P/E Multiple ₹8.38 ₹11.18 ₹13.97 63
P/S Multiple ₹6.79 ₹9.05 ₹11.31 58
P/B Multiple ₹6.79 ₹9.05 ₹11.31 55
EV/EBIT ₹7.36 ₹10.28 ₹13.21 53
EV/EBITDA ₹11.66 ₹16.02 ₹20.38 54
EV/Revenue ₹4.85 ₹7.53 ₹10.21 43
Asset-Based
NCAV (Graham) ₹5.64 ₹7.56 ₹11.28 50
Economic Profit
Residual Income ₹8.44 ₹8.43 ₹7.78 76
ROIC Compounder ₹3.10 ₹3.82 ₹4.43 72
Growth Earnings
Growth-Adj P/E ₹13.20 ₹18.86 ₹24.51 68

Widest divergence: Growth Earnings (₹18.86) versus Economic Profit (₹3.82). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹1.6B
Revenue growth (YoY) +52.4%
Net margin 3.9%
Return on equity 5.2%
Free cash flow −₹627M FY2026
P/E ratio 128.5
More key figures
Operating margin 4.2%
EPS (TTM) ₹0.5000
EPS growth (YoY) +9.1%
Net debt ₹350M FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 30/100

Of which business quality 37 · Market factors (momentum, volatility) 84

Profitability 40
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 35
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 54
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 91
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Tirupati Forge Limited produces and sells carbon steel forged flanges, forged, and other automotive components in India. The company provides slip-on, weld-neck, blind, lap-joint, threaded, din, and socket weld flanges; and elbow, tee, cross, coupling, half coupling, cap, plug, bushing, union, hex, nipple, and swag nipple forged pipe fittings.

Full company description

Tirupati Forge Limited produces and sells carbon steel forged flanges, forged, and other automotive components in India. The company provides slip-on, weld-neck, blind, lap-joint, threaded, din, and socket weld flanges; and elbow, tee, cross, coupling, half coupling, cap, plug, bushing, union, hex, nipple, and swag nipple forged pipe fittings. It also offers forged auto parts, gears, hammer unions, and seamless rolled rings. The company offers its products under the Tirupati brand name. In addition, it exports its products to the United States, Europe, Africa, Canada, and Malaysia. The company serves automotive, aerospace, renewables, defence, engineering, and agriculture sectors. Tirupati Forge Limited was incorporated in 2012 and is based in Rajkot, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Tirupati Forge Limited reported revenue of ₹1.6B in FY2026 versus ₹790M in FY2022, a compound +19.8%/yr. Reported net income was ₹63.0M in FY2026, compounding +0.3%/yr from FY2022.

Growth Quality 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹1.6B
Latest YoY
+41.3%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+21.3%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+43.4%
Avg. growth/yr (12Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+30.3%
Revenue +19.8%/yr
FY22 ₹790M
FY23 ₹911M
FY24 ₹1.1B
FY25 ₹1.1B
FY26 ₹1.6B
Net income +0.3%/yr
FY22 ₹62.2M
FY23 ₹94.3M
FY24 ₹66.4M
FY25 ₹78.6M
FY26 ₹63.0M
Character of growth · EPS growth decomposed (2015-2026) +19.4 % p.a.
Revenue per share +7.7 pp

of which total revenue +22.1 pp · buybacks/dilution −14.4 pp

EBIT margin +10.4 pp
Tax rate +0.4 pp
Residual (interest, one-offs) +0.9 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

TIRUPATIFL screens 88% overvalued. Compare with Carpenter Technology Corporation →

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Cite: Fair Value Calculator (2026). "Tirupati Forge Limited Fair Value". https://www.fairvalue-calculator.com/stock/TIRUPATIFL

Peer Group

Metal Fabrication · 247 stocks

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.

Quality Score 30 · Bottom 25%
Fair Value upside −88% · Bottom 25%
Return on equity (TTM) 5% · Above median
Return on assets 3% · Above median
Net margin (TTM) 4% · Above median
Operating margin (TTM) 4% · Below median
Revenue growth 52% · Top 25%
Debt / equity 0.18× · Higher than median

Valuation Multiples vs Metal Fabrication median · lower = cheaper

P/E (TTM) 128.5× · Pricier than 75% of peers
P/B 6.12× · Pricier than 75% of peers
P/S (TTM) 5.02× · Pricier than 75% of peers
EV/EBITDA 52.5× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 100 · sector 34
PAST 21 · sector 19
HEALTH 91 · sector 95
DIVIDEND 0 · sector 28

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

Is Tirupati Forge Limited (TIRUPATIFL) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹7.69 versus a price of ₹64.24, about −88% (overvalued).
What is the fair value of TIRUPATIFL?
Our model-based fair value for Tirupati Forge Limited is ₹7.69 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹64.24.
What is the quality score of TIRUPATIFL?
Tirupati Forge Limited has a Quality Score of 30/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Tirupati Forge Limited (TIRUPATIFL)?
Tirupati Forge Limited reported trailing-twelve-month revenue of about ₹1.6B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of TIRUPATIFL?
The net profit margin of Tirupati Forge Limited is about 3.9%, meaning it keeps roughly 3.9% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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