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Latest filing: 2026-08-10 19:13
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filings — grounded in each document, but not investment advice and possibly incomplete.
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13 announcements match the current filters (relevance ≥ 5).
31% Revenue Growth and ₹380 Cr Order Book in Q1 FY27
Thejo Engineering reported a strong Q1 FY27 with consolidated revenue growing 31% YoY to ₹177.61 Cr and PAT rising 56% to ₹15.23 Cr. The order book nearly doubled YoY to ₹380 Cr, representing approximately 63% of TTM revenue, providing high visibility. Consolidated EBITDA margins expanded to 15.42% from 13.54% in the year-ago period, driven by improved performance across most subsidiaries. The company also secured a new master material supply agreement in Latin America with initial orders totaling approximately ₹12.69 Cr.
Confidence: HIGH
What changedThejo has reported a significant acceleration in order inflows and profitability, with the order book reaching a record ₹380 Cr.
Why it mattersThe substantial jump in the order book (63% of TTM revenue) and margin expansion indicate strong demand in the mining services sector and successful cross-selling of manufactured products.
Consolidated Revenue (Q1FY27): ₹177.61 CrOrder Book: ₹380 CrOrder Book vs TTM Revenue: 62.9%Consolidated PAT Growth (YoY): 56.1%EBITDA Margin: 15.42%
📅 Short termThe stock is likely to react positively to the strong earnings beat and the nearly doubled order book, which provides short-term revenue certainty.
📈 Long termThe company is structurally positioned for growth through its 72% capacity expansion and increased penetration in Latin American mining markets, though it remains sensitive to global mining capex cycles.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Geopolitical tensions in the Middle East impacting subsidiary supply chains
- Client concentration risk in the mining sector
- Execution risk for the ongoing capacity expansion
Key Highlights
Consolidated Revenue increased 31% YoY to ₹177.61 Cr for the quarter ended June 30, 2026
Order book surged 90% YoY to ₹380 Cr as of June 30, 2026, compared to ₹200 Cr in June 2025
Consolidated EBITDA grew 48% YoY to ₹27.76 Cr with margins expanding by 188 bps to 15.42%
Secured new orders in Latin America totaling $1.33 million (approx. ₹12.69 Cr) for specialized mill liners
Consolidated PAT rose 56% YoY to ₹15.23 Cr, with basic EPS increasing to ₹14.90 from ₹8.69
👀 What to Watch
Investors should monitor the execution timeline of the ₹380 Cr order book and the progress of the 2,600 TPA capacity expansion, which is critical for handling the increased order flow.
Thejo Engineering Recommends Rs 5 Dividend; FY26 Consolidated Revenue Grows 14.6% to Rs 631 Cr
Thejo Engineering has scheduled its 40th AGM for August 25, 2026, and recommended a final dividend of Rs 5 per share (50% of face value). For FY26, consolidated revenue increased to Rs 631.13 cr from Rs 550.73 cr in FY25, though consolidated PAT saw a slight decline to Rs 48.85 cr. A key accounting change from Written Down Value (WDV) to Straight Line Method (SLM) for depreciation provided a one-time boost of Rs 5.51 cr to standalone Profit After Tax. The company continues to focus on its 72% capacity expansion to 6,200 TPA to drive future growth.
Confidence: HIGH
What changedThe company has finalized its FY26 audited results, recommended a dividend, and transitioned its depreciation accounting method to the Straight Line Method.
Why it mattersThe dividend yield is modest at ~0.27%, but the accounting change significantly impacts reported profitability (boosting standalone PAT by ~10%). The revenue growth confirms the company's 15-18% growth trajectory despite global mining sector volatility.
Dividend per share: Rs 5.00Consolidated Revenue (FY26): Rs 631.13 crDepreciation PAT Impact: Rs 5.51 crConsolidated Net Worth: Rs 354.42 crDividend Yield: 0.27%
📅 Short termNeutral; the stock may see minor activity around the dividend record date, but the accounting-led profit boost is non-cash in nature.
📈 Long termStructural growth depends on the successful utilization of the 72% capacity expansion and capturing higher margins from the fully acquired international subsidiaries.
⚠ Risk flags
- Accounting estimate change (WDV to SLM) artificially inflated reported PAT
- Sensitivity to capex cycles of large mining clients
Key Highlights
Recommended a final dividend of Rs 5 per equity share for the financial year 2025-26
Consolidated total income for FY26 reached Rs 641.68 cr, up from Rs 557.81 cr in the previous year
Change in depreciation method (WDV to SLM) increased standalone Profit After Tax by Rs 5.51 cr
Consolidated Net Worth grew to Rs 354.42 cr as of March 31, 2026, compared to Rs 297.78 cr in FY25
Fixed August 18, 2026, as the cut-off date for determining voting rights for the upcoming AGM
👀 What to Watch
Monitor the AGM for management commentary on the execution timeline of the 2,600 TPA capacity expansion and the performance of the now 100%-owned Australian and Brazilian subsidiaries.
₹8.46 Cr Order Win from Vale Brazil for Mill Liners
Thejo Engineering has secured its first tranche of orders from Vale, Brazil, valued at USD 0.89 million (approximately ₹8.46 crore). This order follows successful plant trials of the company's proprietary THOR-R and THOR-M Mill Liners under a three-year supply contract. While the order represents a modest 1.4% of TTM revenue (₹604 Cr), it validates the company's product quality with a global mining major. The supply for these initial two sets is scheduled for completion by October 2026.
Confidence: HIGH
What changedThejo has moved from the trial phase to the commercial execution phase with Vale, Brazil, securing the first firm purchase order under a long-term agreement.
Why it mattersThis win validates Thejo's high-margin specialty products (THOR liners) in the Latin American market, supporting their strategy to leverage the recently acquired Brazilian subsidiary for global growth.
Order Value: ₹8.46 croreOrder vs TTM Revenue: 1.40%Contract Duration: 3 yearsSupply Deadline: October 2026
📅 Short termThe news is sentiment-positive as it confirms product acceptance by a Tier-1 global miner, though the immediate financial impact is small relative to the company's scale.
📈 Long termThis establishes a critical reference point in the Brazilian mining market, which is essential for Thejo's goal of sustaining 15-18% growth through its international subsidiaries.
⚠ Risk flags
- Execution risk in international logistics
- Client concentration risk within the mining sector
Key Highlights
First tranche of orders worth USD 0.89 million (₹8.46 crore) received from Vale, Brazil
Order covers the supply of the initial two complete sets of THOR-R and THOR-M Mill Liners
Supply is scheduled to be completed by October 2026
Contract follows successful performance demonstrated during plant trials at Vale's facilities
Part of a larger three-year supply contract secured from the international mining entity
👀 What to Watch
Investors should monitor the timely execution of this order by October 2026 and watch for subsequent tranches under the 3-year contract to gauge the total potential revenue from this client.
CRISIL Reaffirms 'CRISIL A/Stable' and 'CRISIL A1' Ratings for Thejo Engineering
CRISIL Ratings has reaffirmed its credit ratings for Thejo Engineering Limited's bank loan facilities totaling Rs. 137.50 crore. The long-term rating is maintained at 'CRISIL A/Stable' for facilities worth Rs. 70.08 crore, and the short-term rating remains 'CRISIL A1' for Rs. 67.42 crore. This reaffirmation indicates a stable credit profile and the company's continued ability to meet its financial obligations across various instruments including cash credits and term loans.
Key Highlights
CRISIL reaffirmed the long-term rating at 'CRISIL A/Stable' for Rs. 70.08 crore of bank facilities.
The short-term rating was reaffirmed at 'CRISIL A1' for Rs. 67.42 crore.
Total bank loan facilities reviewed by the rating agency amount to Rs. 137.50 crore.
The ratings cover facilities from major lenders including State Bank of India, HDFC Bank, Axis Bank, and Citibank.
The 'Stable' outlook reflects the agency's expectation of the company's steady financial performance.
👀 What to Watch
Investors should view this as a sign of financial stability and consistent creditworthiness. No immediate action is required as the ratings remain unchanged, reflecting a steady risk profile.
Thejo Engineering Proposes Re-appointment of Executive Chairman and Managing Director
Thejo Engineering Limited has initiated a postal ballot to seek shareholder approval for the re-appointment of its top leadership. Mr. V.A. George is proposed for re-appointment as Executive Chairman for a three-year term with a monthly basic salary of ₹12 lakh and a profit-linked commission of up to 2%. Mr. Manoj Joseph is proposed for re-appointment as Managing Director for a five-year term with a basic salary of ₹5.15 lakh per month plus allowances. These moves are intended to ensure leadership continuity and strategic stability for the company starting July 15, 2026.
Key Highlights
Re-appointment of Mr. V.A. George as Executive Chairman for 3 years effective July 15, 2026.
Re-appointment of Mr. Manoj Joseph as Managing Director for 5 years effective July 15, 2026.
Executive Chairman's remuneration includes ₹12,00,000 monthly basic salary and up to 2% commission on annual profits.
Managing Director's package includes ₹5,15,000 monthly basic salary plus 30% DA and 50% HRA.
Remote e-voting period is set from June 12, 2026, to July 11, 2026, with results by July 14, 2026.
👀 What to Watch
Investors should support these resolutions as they ensure management continuity; monitor the final voting results on July 14, 2026, to confirm the appointments.
Thejo Engineering FY26 Revenue Grows 14.4% to ₹632 Cr; PAT Declines 6.6% to ₹48.8 Cr
Thejo Engineering reported a robust 14.4% YoY growth in consolidated revenue for FY26, reaching ₹63,209 Lakhs. However, the company faced margin pressure as EBITDA declined by 3.3% to ₹8,968 Lakhs and PAT fell by 6.6% to ₹4,885 Lakhs for the full year. The EBITDA margin contracted from 16.8% in FY25 to 14.2% in FY26, reflecting a challenging operating environment. Despite the annual profit dip, Q4 FY26 showed a strong sequential recovery with PAT nearly doubling compared to Q3 FY26.
Key Highlights
FY26 Revenue from operations increased by 14.4% YoY to ₹63,209 Lakhs.
Full-year PAT decreased by 6.6% YoY to ₹4,885 Lakhs with PAT margins at 7.7%.
Q4 FY26 Revenue grew 18.3% YoY to ₹18,117 Lakhs, indicating strong year-end momentum.
Q4 FY26 PAT saw a significant sequential jump of 97.8% compared to Q3 FY26.
EBITDA margins for the full year contracted to 14.2% from 16.8% in FY25.
👀 What to Watch
Investors should monitor the company's ability to stabilize margins which were under pressure throughout FY26. The strong sequential recovery in Q4 is a positive sign, but long-term value will depend on restoring profitability to historical levels.
Thejo Engineering Sets August 18, 2026, as Record Date for FY26 Dividend
Thejo Engineering Limited has announced August 18, 2026, as the record date for determining shareholder eligibility for its dividend for the financial year ended March 31, 2026. The company will observe a book closure period from August 19, 2026, to August 25, 2026, during which no share transfers will be processed. This dividend payout is subject to the final approval of the shareholders at the upcoming general meeting. Investors holding shares in either physical or dematerialized form on the record date will be entitled to the payout.
Key Highlights
Record date for dividend entitlement is fixed as August 18, 2026
Book closure period scheduled from August 19, 2026, to August 25, 2026
Dividend pertains to the financial year ending March 31, 2026
Payment is contingent upon shareholder approval at the Annual General Meeting
👀 What to Watch
Investors wishing to qualify for the dividend should ensure they purchase or hold the stock before the ex-dividend date, typically one business day prior to the August 18 record date.
Thejo Engineering Recommends Rs 5 Dividend and Re-appoints Top Management
Thejo Engineering's Board has recommended a final dividend of Rs. 5 per share (50% of face value) for the financial year ended March 31, 2026. The company has fixed August 18, 2026, as the record date for dividend eligibility. In a significant leadership move, the board approved the re-appointment of Executive Chairman V.A. George for 3 years and Managing Director Manoj Joseph for 5 years. Notably, a change in the depreciation method from WDV to SLM boosted the full-year Profit After Tax (PAT) by Rs. 551.51 lakhs.
Key Highlights
Recommended a final dividend of Rs. 5 per equity share (50% of face value) for FY26.
Fixed August 18, 2026, as the record date and August 25, 2026, for the 40th AGM.
Re-appointed V.A. George as Executive Chairman (3 years) and Manoj Joseph as MD (5 years).
Change in depreciation method to SLM reduced depreciation charge by Rs. 737.02 lakhs for FY26.
The accounting change resulted in a net positive impact of Rs. 551.51 lakhs on Profit After Tax.
👀 What to Watch
Investors should benefit from the dividend payout and management continuity, but should adjust for the one-time accounting gain from the depreciation method change when evaluating core earnings growth.
Thejo Engineering Recommends 50% Dividend; PAT Boosted by Depreciation Method Change
Thejo Engineering reported its FY26 annual results and recommended a final dividend of Rs. 5 per share. A key highlight is the change in accounting policy, switching from Written Down Value (WDV) to Straight Line Method (SLM) for depreciation. This accounting shift reduced the annual depreciation charge by Rs. 737.02 lakhs, effectively boosting the reported Profit After Tax (PAT) by Rs. 551.51 lakhs. The board also ensured leadership continuity by re-appointing the Executive Chairman and Managing Director for new terms.
Key Highlights
Recommended a dividend of 50% (Rs. 5 per equity share) for the financial year ended March 31, 2026.
Change in depreciation method from WDV to SLM increased FY26 Profit After Tax by Rs. 551.51 lakhs.
Re-appointed Mr. V.A. George as Executive Chairman for 3 years and Mr. Manoj Joseph as MD for 5 years.
Set August 18, 2026, as the record date for dividend eligibility and the 40th AGM.
Statutory auditors issued an unmodified opinion on both standalone and consolidated financial results.
👀 What to Watch
Investors should recognize that the reported profit growth is partially driven by a change in accounting estimates regarding depreciation. While the dividend and management stability are positive signs, the underlying operational growth should be evaluated excluding the one-time accounting benefit.
Thejo Engineering Q3FY26 Revenue Grows 19.7% YoY; Order Book Reaches ₹326 Crore
Thejo Engineering reported a strong 19.7% year-on-year revenue growth in Q3FY26, reaching ₹162.25 crore. However, profitability faced pressure with EBITDA declining to ₹20.16 crore and PAT falling to ₹8.39 crore compared to the previous year's quarter. The company maintains a healthy order book of ₹326 crore and recently secured a significant AED 6.6 million order in the UAE. Despite margin compression, the company is expanding manufacturing facilities and has consolidated its international subsidiaries in Australia and Brazil.
Key Highlights
Q3FY26 revenue increased to ₹162.25 crore from ₹135.58 crore in Q3FY25.
Net profit (PAT) for the quarter declined to ₹8.39 crore from ₹13.84 crore YoY.
Order book remains robust at ₹326 crore as of December 31, 2025.
Secured a major AED 6.6 million order in the UAE for conveyor belt replacement in January 2026.
Revenue mix for 9MFY26 stands at 57% from Integrated Services and 43% from Engineered Products.
👀 What to Watch
Investors should monitor the reasons for margin contraction despite strong top-line growth. The robust order book and international expansion provide long-term visibility, but short-term profitability needs stabilization.
Thejo Engineering Q3 Revenue Rises 18.8% to ₹132.6 Cr; PAT Dips to ₹10.78 Cr on One-time Charges
Thejo Engineering reported a healthy 18.8% YoY increase in standalone revenue to ₹132.68 crore for the quarter ended December 2025, driven by strong service unit performance. However, standalone Net Profit (PAT) declined to ₹10.78 crore from ₹12.99 crore YoY, primarily due to a ₹2.73 crore one-time exceptional charge related to the New Labour Codes. The company also transitioned its depreciation method from WDV to SLM, which reduced depreciation expenses by ₹1.94 crore this quarter. Additionally, the board approved the grant of 7,236 ESOPs at an exercise price of ₹1,304 per share.
Key Highlights
Standalone Revenue from Operations grew 18.8% YoY to ₹132.68 crore in Q3 FY26.
Net Profit (PAT) stood at ₹10.78 crore, down 17% YoY due to a ₹2.73 crore exceptional expense for labour code compliance.
Service unit revenue contributed significantly, rising to ₹86.67 crore from ₹68.06 crore YoY.
Change in depreciation accounting (WDV to SLM) resulted in a ₹1.94 crore lower charge, boosting PBT for the quarter.
Granted 7,236 ESOP options at an exercise price of ₹1,304, a 25% discount to the prevailing market price.
👀 What to Watch
Investors should focus on the robust 18% top-line growth while noting that the profit dip is largely due to a one-time regulatory charge. Monitor if the change in depreciation method continues to mask underlying operational costs in future quarters.
Thejo Engineering Q3 Standalone Revenue Up 18.8% YoY; PAT Declines to ₹10.78 Cr on One-Time Charges
Thejo Engineering reported a standalone revenue of ₹132.69 crore for Q3 FY26, an 18.8% increase over the previous year. Net profit for the quarter stood at ₹10.78 crore, down from ₹12.99 crore YoY, primarily impacted by a one-time exceptional charge of ₹2.73 crore for new labor code compliance. The bottom line was also influenced by a change in the depreciation method from WDV to SLM, which reduced expenses by ₹1.95 crore. The service segment remains the primary growth driver, contributing significantly to the overall revenue mix.
Key Highlights
Standalone Revenue rose 18.8% YoY to ₹132.69 crore, driven by strong performance in Service Units.
Standalone PAT decreased 17% YoY to ₹10.78 crore due to a ₹2.73 crore exceptional labor cost charge.
Change in depreciation method from WDV to SLM resulted in a ₹1.95 crore lower depreciation charge for the quarter, boosting PBT.
Service Units revenue grew 27.3% YoY to ₹86.67 crore, while Manufacturing Units revenue remained relatively flat at ₹60.03 crore.
The Board approved the grant of 7,236 ESOPs to eligible employees at an exercise price of ₹1,304 per share.
👀 What to Watch
Investors should look past the one-time labor charge and the accounting change in depreciation to focus on the strong 27% growth in the service segment. The underlying operational performance remains healthy, though the manufacturing segment's stagnation warrants monitoring.
Thejo Engineering's UAE Subsidiary Secures AED 6.6 Million Order for Conveyor Belt Replacement
Thejo Engineering's UAE-based subsidiary, TE-Global FZ LLC, has secured a purchase order worth approximately AED 6.6 million from M/s PHB Weserhutte. The contract involves the complete replacement of a steel cord pipe conveyor belt at a government establishment in the UAE. The scope covers methodology preparation, hot splicing, equipment provision, and commissioning support. The project is slated for completion by April 30, 2026, contributing to the company's international service revenue.
Key Highlights
Order value of approximately AED 6.6 million from PHB Weserhutte, UAE
Scope includes full replacement of steel cord pipe conveyor belt and commissioning
Project execution deadline set for April 30, 2026
Contract awarded by an international entity for a UAE government establishment
👀 What to Watch
Investors should monitor the company's execution efficiency in international markets as this order strengthens its presence in the Middle East. The steady inflow of service-oriented orders is a positive sign for margin stability.
