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Tarsons Products Limited (TARSONS)

₹331.20 +1.33% last close, 16 Oct

📊 NSE: TARSONS 🏢 Medical Equipment & Supplies 📢 Latest filing: 28 Sep 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Tarsons Products' revenue was ₹110 Cr (+20.7% year on year, -8.8% on the previous quarter), and net profit ₹-1.4 Cr (against a profit a year earlier); the operating margin was 23.6%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹110	+20.7%	-8.8%
Operating profit	₹26.0	+5.2%	-24.2%
Net profit	₹-1.4	to loss	to loss
EPS (₹)	-0.27	to loss	to loss
Operating margin	23.6%	—	—

Full quarterly financials → Results calendar →

TARSONS delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 43.81% of the TARSONS shares traded on NSE were taken to delivery, against the stock's own 20-session average of 40.89%. That is close to its usual level. Turnover was only ₹79 lakh, so a handful of trades can move this figure. Volume was under a tenth of its average.

43.81%Delivery, 16 Oct

40.89%Own 20-session average

<0.1×Volume vs its average

₹331.20NSE close · +1.33%

Delivery in the last 5 sessions: 38.6% · 50.2% · 34.3% · 54.1% · 43.8%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Tarsons Products Re-Appoints Sanjive Sehgal as CMD Following Retirement by Rotation

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 28 Sep 2026, 07:12 PM

Tarsons Products Limited has re-appointed Mr. Sanjive Sehgal as Chairman and Managing Director following his retirement by rotation at the 43rd Annual General Meeting held on September 24, 2026. Mr. Sehgal holds over 40 years of industry experience and continues his existing 5-year tenure as Managing Director valid through July 25, 2028. This represents a procedural confirmation at the AGM rather than a change in executive leadership. The promoter group currently holds 47.3% of the company as of June 2026.

Re-appointment of Mr. Sanjive Sehgal as Chairman and Managing Director approved at the 43rd AGM on September 24, 2026
Current 5-year term as Managing Director remains effective from July 26, 2023 up to July 25, 2028
Sanjive Sehgal has over 40 years of experience in plastic labware and consumables manufacturing
Filing confirms no debarment from holding office by SEBI or any other authority

💡 Track operational execution at the Panchla facility and Q2 FY27 earnings performance, as leadership continuity remains uninterrupted.

Tarsons Products AGM Approves All Resolutions; Ratifies Excess Remuneration Waiver

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 28 Sep 2026, 07:05 PM

Tarsons Products Limited released the voting results and scrutinizer's report for its 43rd Annual General Meeting held on September 24, 2026. All five resolutions were approved by shareholders with the required majority. Notably, shareholders approved material related-party transactions with German subsidiary Nerbe Plus GmbH & Co. KG and ratified the waiver of excess managerial remuneration paid during FY25-26. Total votes polled reached 3,76,94,377 representing 70.85% of total outstanding shares.

All 5 resolutions approved with requisite majority at the 43rd AGM held on September 24, 2026
Approval of material related-party transactions with step-down subsidiary Nerbe Plus GmbH & Co. KG passed with 99.99% votes polled in favour
Ratification and waiver of excess managerial remuneration for FY25-26 passed with 99.90% overall approval, though 84.06% of institutional votes opposed it
Overall voter turnout stood at 70.85% with 37,694,377 votes polled out of 53,206,281 outstanding shares

💡 Track subsequent quarterly financial performance and operational ramp-up of the Panchla facility, as well as revenue integration from European subsidiary Nerbe.

Tarsons Products Issues 43rd AGM Notice and Annual Report Weblinks for September 24, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 02 Sep 2026, 03:51 PM

Tarsons Products Limited has sent a communication to shareholders whose email addresses are not registered, providing weblinks to access the Annual Report for FY 2025-26 and the Notice of the 43rd Annual General Meeting (AGM). The AGM is scheduled to be held on Thursday, September 24, 2026, at 12:00 PM IST via Video Conference / Other Audio-Visual Means. This intimation complies with Regulation 36(1)(b) of the SEBI Listing Regulations. No material business updates or operational changes were announced in this filing.

43rd Annual General Meeting scheduled for September 24, 2026, at 12:00 PM IST via Video Conference
Notice of the 43rd AGM was originally dated August 10, 2026
Communication issued in compliance with SEBI LODR Regulation 36(1)(b) for shareholders with unregistered email IDs
Annual Report for FY 2025-26 and AGM notice made accessible via company disclosure portals

💡 Shareholders can review the FY 2025-26 Annual Report and participate in the AGM voting proceedings on September 24, 2026.

Tarsons Issues AGM Notice; Seeks ₹375 Cr RPT Limit with Nerbe & ₹4.14 Cr Remuneration Waiver

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 02 Sep 2026, 03:24 PM

Tarsons Products has released the notice for its 43rd Annual General Meeting (AGM) scheduled for September 24, 2026. Key agenda items include seeking approval for material related party transactions of up to ₹375 Cr (₹3,750 Million) with its German subsidiary Nerbe Plus GmbH & Co. KG. Additionally, the board has proposed a special resolution to ratify and waive the recovery of ₹4.14 Cr (₹41.39 Million) in excess managerial remuneration paid to executive and non-executive directors in FY26 due to inadequate profits.

AGM scheduled for September 24, 2026, via Video Conferencing.
Proposed related party transaction limit of up to ₹3,750 Million (₹375 Cr) with subsidiary Nerbe Plus GmbH & Co. KG.
Nerbe Plus reported FY26 turnover of ₹896.56 Million (₹89.66 Cr) and net profit of ₹30.05 Million (₹3.01 Cr).
Seeking ratification to waive ₹41.39 Million (₹4.14 Cr) of excess managerial remuneration paid during FY26.
CMD Sanjive Sehgal's FY26 drawn remuneration stood at ₹39.59 Million.

💡 Track shareholder voting results post the September 24, 2026 AGM, especially scrutiny around the waiver of excess executive remuneration.

Tarsons Q1 FY27 Call: Revenue Up 21% YoY to ₹110 Cr; Capex Ramp-Up Expected in H2

🟡 NEUTRAL ⭐ 5/10

EARNINGS 📅 17 Aug 2026, 04:42 PM

Tarsons Products reported a 21% YoY growth in consolidated revenue to ₹110 crore for Q1 FY27, supported by a 17% rise in domestic sales and a 29% recovery in exports from India. Consolidated cash profit increased 18% YoY to ₹25.6 crore, though bottom-line performance remained suppressed by higher depreciation, finance costs from new capex, and a 25% to 50% spike in raw material input costs. Management noted that growth was driven almost entirely by core products, as incremental capacities contributed negligibly during the quarter. Full commissioning of new facilities is expected in Q2 FY27, with meaningful revenue contributions kicking in from H2 FY27.

Consolidated revenue rose 21% YoY to ₹110 crore, with standalone revenue reaching ₹86 crore (up 21% YoY).
Export business from India recovered strongly with 29% YoY growth, while domestic sales grew 17% YoY.
Raw material input costs surged between 25% and 50%, exerting pressure on gross margins.
Consolidated cash profit stood at ₹25.6 crore, registering an 18% YoY growth.
Capex commissioning is slated for completion in Q2 FY27, with revenue ramp-up beginning in H2 FY27.

💡 Track margin progression over the next two quarters to see if price hikes offset raw material inflation, along with capacity utilization milestones at the new Panchla and Amta facilities in H2 FY27.

Tarsons Products uploads Q1 FY27 earnings conference call recording

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 11 Aug 2026, 06:01 PM

Tarsons Products Limited has released the audio recording of its investor conference call held on August 11, 2026, regarding its Q1 FY27 financial performance. The company reported a TTM revenue of ₹423 Cr and a TTM PAT of ₹14 Cr, reflecting a significant P/E of 110.1. The call likely addressed the progress of the Panchla facility ramp-up and the integration of the Nerbe group acquisition (₹98 Cr). This filing is a standard regulatory requirement following the disclosure of quarterly results.

Investor conference call held on August 11, 2026, to discuss Q1 FY27 results
TTM revenue stands at ₹423 Cr with an operating profit margin of 27.9%
Company is managing a debt of ₹274 Cr against a net worth of ₹676 Cr
Panchla facility ramp-up is strategically scheduled to begin from FY27
Nerbe group acquisition (completed Jan 2024) for ₹98 Cr remains a key focus for European expansion

💡 Investors should review the upcoming transcript for specific management commentary on the utilization rates of the new Panchla facility and how they plan to counter pricing pressure from unorganized players.

21% Revenue Growth in Q1 FY27; Consolidated Net Loss of ₹1.4 Cr Amid Capex Ramp-up

🔵 WATCH ⭐ 7/10

EARNINGS 📅 11 Aug 2026, 12:41 AM

Tarsons Products reported a 21% YoY increase in consolidated revenue to ₹110.2 cr for Q1 FY27, supported by a 29% rebound in exports and 17% domestic growth. However, the company posted a consolidated net loss of ₹1.4 cr, down from a ₹1.8 cr profit YoY, primarily due to a sharp rise in depreciation (₹24.6 cr standalone) and finance costs linked to the new Amta and Panchla facilities. Standalone EBITDA margins contracted by 310 bps to 28.1% due to raw material price volatility and pre-operating expenses. While top-line growth is robust, the bottom line is currently suppressed by the heavy investment phase, with meaningful revenue contributions from new capacities expected only from FY28 onwards.

Consolidated revenue grew 21% YoY to ₹110.2 cr, driven by domestic and export recovery.
Standalone PAT declined 81% YoY to ₹0.7 cr, impacted by ₹24.6 cr in depreciation charges.
Export revenue showed a strong recovery, growing 29% YoY to ₹29.9 cr.
Standalone Gross Margins contracted by 430 bps to 67.1% due to supply chain disruptions and RM costs.
Panchla facility cell culture lines are scheduled for commissioning by the end of Q2 FY27.

💡 Investors should monitor the commissioning timeline of the Panchla cell culture lines in Q2 FY27 and the subsequent utilization rates, as the stock's high P/E (116.1) requires a significant earnings recovery once capex stabilizes.

Tarsons Q1 FY27 PAT drops to ₹0.32 Cr; ₹4.14 Cr excess managerial remuneration flagged

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 10 Aug 2026, 06:58 PM

Tarsons Products reported a consolidated PAT of ₹0.32 Cr for Q1 FY27, a significant decline from ₹4.18 Cr in the previous quarter, despite revenue growing 35.4% YoY to ₹110.24 Cr. The company disclosed a breach of statutory limits regarding managerial remuneration for FY26, totaling ₹4.14 Cr, which now requires shareholder waiver. Operating margins are under severe pressure as total expenses reached ₹114.75 Cr against a total income of ₹116.22 Cr. The 43rd AGM is scheduled for September 24, 2026, to address these results and the remuneration issue.

Consolidated Revenue from operations stood at ₹110.24 Cr for Q1 FY27, up 35.4% from ₹81.39 Cr in the same quarter last year.
Consolidated Net Profit (PAT) plummeted to ₹0.32 Cr, representing a PAT margin of less than 0.3%.
Excess managerial remuneration of ₹4.14 Cr (₹41.39 million) was paid in FY26, exceeding Section 197 limits of the Companies Act.
Finance costs increased to ₹6.27 Cr from ₹5.07 Cr YoY, impacting the bottom line.
Depreciation and amortization expenses rose to ₹27.02 Cr, reflecting the capitalization of new facilities.

💡 Investors should monitor the shareholder vote on the managerial remuneration waiver at the AGM and track the ramp-up of the Panchla facility, which is critical for improving operating leverage from FY27.

Tarsons Q1 FY27: Revenue Up 20.6% YoY to ₹110.2 Cr; Consolidated PAT Drops to ₹0.08 Cr

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 10 Aug 2026, 06:44 PM

Tarsons Products reported a 20.6% YoY increase in consolidated revenue to ₹110.24 Cr for Q1 FY27, up from ₹91.36 Cr. However, consolidated Profit After Tax (PAT) plummeted to just ₹0.08 Cr from ₹1.78 Cr in the year-ago period, primarily due to high fixed costs. Depreciation and finance costs surged to ₹27.02 Cr and ₹6.26 Cr respectively, likely reflecting the capitalization of new facilities. Additionally, two unreviewed subsidiaries reported a combined loss of ₹1.77 Cr, significantly weighing down the consolidated performance compared to the standalone PAT of ₹0.68 Cr.

Consolidated revenue for Q1 FY27 stood at ₹110.24 Cr, a 20.6% increase over Q1 FY26.
Consolidated PAT fell to ₹0.08 Cr, representing a sharp decline from ₹1.78 Cr in Q1 FY26 and ₹4.18 Cr in Q4 FY26.
Depreciation and Amortization expenses reached ₹27.02 Cr, accounting for 24.5% of the quarterly revenue.
Two unreviewed subsidiaries contributed a net loss of ₹1.77 Cr to the consolidated results.
Company seeking shareholder waiver for ₹4.14 Cr in excess managerial remuneration paid during FY26.

💡 Investors should monitor the capacity utilization and ramp-up timeline of the Panchla facility, as the current high depreciation and interest costs require significant volume growth to restore margins. Watch for the turnaround of international subsidiaries and the outcome of the AGM vote on managerial remuneration.

₹110.2 Cr Revenue in Q1 FY27; Net Profit Drops 68% Sequentially to ₹1.46 Cr

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 10 Aug 2026, 06:27 PM

Tarsons Products reported Q1 FY27 consolidated revenue of ₹110.24 Cr, representing a 35.4% YoY growth but an 8.2% sequential decline. Net profit fell sharply to ₹1.46 Cr from ₹4.61 Cr in Q4 FY26, resulting in a very thin net margin of 1.3%. The bottom line is heavily impacted by high fixed costs, with depreciation at ₹27.02 Cr (24.5% of revenue) and finance costs at ₹6.27 Cr. Additionally, the company disclosed that managerial remuneration in FY26 exceeded statutory limits by ₹4.14 Cr, requiring a shareholder waiver.

Consolidated Revenue grew 35.4% YoY to ₹110.24 Cr, driven by the Nerbe acquisition and expansion.
Net Profit declined 68.3% sequentially to ₹1.46 Cr from ₹4.61 Cr in the previous quarter.
Depreciation and Amortization expenses rose to ₹27.02 Cr, up from ₹19.04 Cr in the same quarter last year.
Finance costs increased to ₹6.27 Cr compared to ₹5.07 Cr in Q1 FY26.
Excess managerial remuneration of ₹4.14 Cr was paid in FY26, exceeding Section 197 limits of the Companies Act.

💡 Monitor the capacity utilization of the new Panchla facility starting FY27, as the company needs significant operating leverage to offset its high depreciation and interest burden.

Tarsons to Attend Emkay Global Investor Conference on August 13, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 07 Aug 2026, 06:02 PM

Tarsons Products Limited has announced its participation in the Emkay Global Investor Conference scheduled for August 13, 2026, in Mumbai. The company will engage in group and one-on-one meetings with institutional investors starting from 10:00 AM IST. Management has clarified that discussions will be based on publicly available information and no unpublished price sensitive information (UPSI) will be shared. This interaction occurs as the company navigates a high P/E environment of 115.7 and prepares for a capacity ramp-up in FY27.

Investor conference scheduled for August 13, 2026, in Mumbai.
Meetings will be hosted by Emkay Global starting at 10:00 AM IST.
Format includes both Group and 1x1 interactions with institutional investors.
Company TTM revenue stands at Rs 423 Cr with an operating profit margin of 27.9%.
Panchla facility ramp-up is expected to begin from FY27 to leverage scale.

💡 Watch for any investor presentations or transcripts released after the conference for updates on the Panchla facility utilization and European market penetration via the Nerbe group.

Tarsons Products Schedules Q1 FY27 Earnings Conference Call for August 11, 2026

🟡 NEUTRAL ⭐ 2/10

EARNINGS 📅 04 Aug 2026, 05:48 PM

Tarsons Products Limited has scheduled its post-earnings conference call for the quarter ended June 30, 2026 (Q1 FY27) on August 11, 2026, at 12:00 PM IST. The call will feature the Promoter and Whole Time Director, Mr. Aryan Sehgal, and the CFO, Mr. Santosh Agarwal. Investors will likely seek updates on the company's margin trajectory, which stood at 27.9% OPM for the TTM period, and the progress of the Panchla facility ramp-up. The company currently trades at a high P/E of 120.1 despite a TTM PAT of only Rs 14 Cr.

Earnings conference call scheduled for August 11, 2026, at 12:00 PM IST.
Management representation includes the Promoter/Whole Time Director and the CFO.
Discussion will focus on financial and operational performance for the quarter ended June 30, 2026.
Company reported TTM revenue of Rs 423 Cr and TTM PAT of Rs 14 Cr as of the latest available data.

💡 Investors should listen for management commentary regarding the utilization levels of the new Panchla facility and the impact of pricing pressures on margins.

Tarsons Products Submits Quarterly Share Dematerialization Certificate for June 2026

🟡 NEUTRAL ⭐ 2/10

REGULATORY 📅 09 Jul 2026, 02:59 PM

Tarsons Products Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by KFin Technologies Limited (the Registrar and Share Transfer Agent), confirms that share certificates received for dematerialization during the quarter ended June 30, 2026, have been processed. This involves the verification, mutilation, and cancellation of physical certificates and the substitution of the depository's name in the company's records. This is a routine administrative filing with no impact on business operations or financials.

Compliance certificate covers the quarter ended June 30, 2026
Certificate issued by Registrar and Share Transfer Agent, KFin Technologies Limited, on July 01, 2026
Confirmation that securities dematerialized/rematerialized have been furnished to BSE and NSE
The filing was submitted to the exchanges on July 09, 2026

💡 No action is required as this is a standard procedural filing. Investors should monitor the company's upcoming quarterly earnings report for material business updates.

Tarsons Products to Close Trading Window from July 01, 2026 for Q1 FY27 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 23 Jun 2026, 03:59 PM

Tarsons Products Limited has announced the closure of its trading window for all designated persons and their immediate relatives starting July 01, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the Q1 financial results for the period ending June 30, 2026. The window will remain closed until 48 hours after the unaudited standalone and consolidated financial results are declared. The specific date for the board meeting to approve these results will be communicated in the future.

Trading window closure effective from Wednesday, July 01, 2026.
Closure is related to the unaudited financial results for the quarter ended June 30, 2026.
Restriction applies to all Designated Persons and their immediate relatives.
Trading window will reopen 48 hours after the public dissemination of the financial results.
Board meeting date for result consideration to be announced in due course.

💡 No immediate action is required as this is a standard regulatory filing. Investors should watch for the announcement of the board meeting date to evaluate the company's quarterly performance.

Tarsons Products Clarifies on Significant Price Movement; No Undisclosed Material Info

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 18 Jun 2026, 07:38 PM

Tarsons Products Limited responded to a clarification request from the National Stock Exchange (NSE) on June 18, 2026, regarding recent significant price movements. The company confirmed that it is in full compliance with Regulation 30 of SEBI (LODR) Regulations, 2015, and has disclosed all price-sensitive information. Management stated that there is no pending or undisclosed material information that could affect the company's performance. The company maintains that recent fluctuations in share price and volume are entirely market-driven.

Response to NSE letter Ref: NSE/CM/Surveillance/17127 dated June 18, 2026.
Company confirms no undisclosed price-sensitive information is pending.
Adherence to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) affirmed.
Management attributes recent price and volume volatility to market-driven factors.
CFO Santosh Kumar Agarwal signed off on the regulatory compliance statement.

💡 Investors should view this as a routine regulatory response and avoid trading based on speculative rumors, as the company confirms no new material developments.

View All TARSONS Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue grew 32.4% YoY to INR 392.41 Cr in FY25. Standalone revenue grew 13.3% YoY to INR 314.18 Cr. H1 FY26 standalone revenue grew 4.7% YoY to INR 151.8 Cr.

Geographic Revenue Split

Domestic market remains the primary revenue driver with expanding market share. International operations, specifically the Nerbe acquisition in Germany, contributed INR 80 Cr (approximately 20.4% of consolidated revenue) in FY25.

Profitability Margins

Standalone Gross Margin improved to 72.2% in H1 FY26 from 71.7% YoY. Standalone PAT Margin declined to 6.7% in H1 FY26 from 13.4% YoY due to higher depreciation and finance costs.

EBITDA Margin

Standalone EBITDA Margin improved by 390 bps to 31.9% in H1 FY26. Consolidated EBITDA (excluding forex/other income) was INR 110.73 Cr in FY25.

Capital Expenditure

Invested INR 150 Cr in the Amta facility. The new Panchla facility was capitalized in FY26, leading to accelerated depreciation of INR 37.9 Cr in H1 FY26.

Credit Rating & Borrowing

CARE Ratings reaffirmed the credit rating on June 20, 2025. Consolidated finance costs rose 91.6% YoY to INR 19.39 Cr in FY25 due to expansion-related debt.

⚙️ Operational Drivers

Raw Materials

Plastic resins and granules (polypropylene/polyethylene) used for labware consumables represent the primary raw material cost.

Capacity Expansion

Panchla facility (newly capitalized) and Amta facility (INR 150 Cr investment). Full capacity utilization is expected over the next 3 to 5 years with a ramp-up starting from FY27.

Raw Material Costs

Standalone Cost of Goods Sold (COGS) was INR 42.3 Cr in H1 FY26, representing 27.8% of revenue.

Manufacturing Efficiency

Operating leverage is expected to improve margins as the Panchla facility ramps up from FY27 onwards.

Logistics & Distribution

Distribution costs are being streamlined through centralized fulfillment; specific % of revenue not disclosed.

📈 Strategic Growth

Expected Growth Rate

14.90%

Growth Strategy

Achieving growth through the strategic acquisition of the Nerbe group to penetrate European markets, ramping up the new Panchla facility from FY27 to leverage scale, and launching new plastic labware products to replace traditional glass labware.

Products & Services

Consumables (pipette tips, centrifuge tubes), reusables, and benchtop equipment used in research, academia, and diagnostics.

Brand Portfolio

Tarsons, Nerbe.

New Products/Services

Expansion in high-quality plastic labware consumables designed to replace glass alternatives in research laboratories.

Market Expansion

Deepening presence in European markets via German subsidiaries Nerbe R&D GmbH and Nerbe Plus GmbH.

Market Share & Ranking

Leading plastic labware manufacturing company in India; expanding domestic wallet share.

Strategic Alliances

Acquisition of the Nerbe group (Germany) for approximately INR 98 Cr to enhance global footprint.

🌍 External Factors

Industry Trends

Industry-wide shift from glass to plastic labware consumables driven by research efficiency and safety; market growing due to increased life science investments.

Competitive Landscape

Competition from both established global players and unorganized local manufacturers.

Competitive Moat

Durable advantages include strong brand equity built over decades, manufacturing scale, and ISO 9001/13485 certifications which act as entry barriers.