Recent headlines have been abuzz with TEGA Industries’ strategic acquisition of McNally Engineering, a move that signifies the company’s ambition to further expand its footprint in the industry. With this significant development on the horizon, TEGA now sets its sights on an ambitious target: achieving a robust 15% Compound Annual Growth Rate (CAGR) in its business growth. This ambitious objective has naturally piqued the interest of investors and analysts alike.

In this article, we delve into the prospects and share price predictions for TEGA Industries in light of its recent acquisition and ambitious growth plans.

As of now, TEGA Industries boasts a market capitalization of ₹6,915 crore, and its current share price stands at ₹1039.

Tega Industries Share Price Target

About Tega Industries

Established in 1976, Tega Industries has become a global leader in mineral processing. By 2020, it ranked as the world’s second-largest producer of polymer-based mill liners, a testament to its commitment to innovation.

Tega Industries boasts an expansive footprint that spans the entire spectrum of mineral processing. Offering an impressive selection of over 55 specialized abrasion and wear-resistant products. The company stands as a linchpin in optimizing operations across mining, grinding, delivering unmatched, and material handling solutions to its clientele

With six advanced manufacturing facilities in India, Chile, South Africa, and Australia, Tega ensures quality using high-grade raw materials, including exported rubber compounds.

With a global presence, Tega Industries operates through an extensive direct sales network, comprising 18 global and 14 domestic sales offices. Their regional sales teams work closely with customers, fostering customized solutions and long-term partnerships.

As Tega invests significantly over the next three years in capacity expansion, including a new Chilean facility, its mission to revolutionize mineral processing continues.

Q1 Fy2024 Key Points And Summary:

  • Tega reported a 10% growth in total revenue (topline) at a group level compared to the same period last year (Q1 FY24 vs. Q1 FY23).
  • The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the current quarter (Q1 FY24) is Rs. 393 million.
  • Tega’s non-mill lining business exhibited robust growth, with a year-on-year (YoY) increase of 34%, highlighting the company’s commitment to diversifying its product portfolio.
  • Operating Revenue: Rs. 2,681 million, representing a 9.7% increase compared to the same period last year.
  • Profit After Tax (PAT): Rs. 214 million, reflecting a decrease of 14.7% compared to the same period last year.
  • Operating EBITDA: Rs. 393 million.

Past News

  • Tega Industries Successfully Acquires McNally Sayaji Engineering Limited via NCLT Route for Rs 165 Crore and commits an Additional Rs 15 Crore for Capital Expenditure in the Resolution Plan. (5 Jun)
  • Tata AIA Life Insurance Acquires Over 4 Lakh Shares in TEGA Industries. (19 Jun)

Tega Industries Shareholding Pattern Analysis

  • Promoters’ shareholding remains stable, holding the majority at 74.99% in June 2023.
  • FIIs demonstrate a growing interest with their share rising to 2.50% in June 2023.
  • DIIs significantly increase their stake, reaching 16.64% in June 2023, reflecting domestic institutional interest.
  • Public shareholding experiences fluctuations, declining to 5.87% in June 2023.
  • The number of shareholders decreases notably from 1,12,682 in March 2022 to 60,665 in June 2023, suggesting consolidation or shifts in ownership dynamics.

The shareholding pattern at TEGA Industries presents a dynamic picture. Promoters maintain a stable and influential majority stake, while increasing interest from foreign and domestic institutional investors signifies confidence in the company’s potential. However, a decrease in public shareholding and shareholder count requires further investigation to understand the underlying reasons. This evolving landscape suggests a potential for increased institutional interest, but assessing its impact on the company’s governance necessitates careful consideration of the underlying factors driving these changes.

Tega Industries Share Price Target 2023 To 2030

Tega Industries Share Price Target 2023

When Maximum Price Minimum Price
November 2023 ₹1,102.77 ₹911.61
December 2023 ₹1,095.86 ₹941.69

These are the expected share prices for TEGA Industries in the last quarter of 2023, with December marking the highest and November the lowest point of the year.

  • TEGA Industries’ highest expected share price for the year occurs in December 2023, with a maximum price of ₹1,095.86 per share.
  • The lowest expected share price for the year is in January 2023, with a minimum price of ₹565 per share.

These figures indicate the range of share prices for TEGA Industries over the last four months of the year 2023, with December having the highest expected share price and November having the lowest expected share price.

Tega Industries Share Price Target 2024

When Maximum Price Minimum Price
January 2024 ₹1,057.00 ₹919.13
February 2024 ₹1,078.57 ₹937.89
March 2024 ₹1,100.58 ₹957.03
April 2024 ₹1,068.53 ₹929.15
May 2024 ₹1,052.74 ₹915.42
June 2024 ₹1,090.63 ₹948.38
July 2024 ₹1,079.73 ₹938.89
August 2024 ₹1,122.92 ₹976.45
September 2024 ₹1,167.83 ₹1,015.51
October 2024 ₹1,144.93 ₹995.60
November 2024 ₹1,179.28 ₹1,025.46
December 2024 ₹1,208.77 ₹1,051.10
  • The year is expected to start with the lowest expected share price in January 2024 at ₹919.13 and gradually see an upward trend.
  • Share prices are expected to steadily increase through the first half of the year, reaching ₹1,090.63 in June 2024.
  • During the second half of the year, there’s expected further growth, with share prices peaking in December 2024 at ₹1,208.77.
  • Overall, TEGA Industries’ share prices show a consistent upward trajectory throughout the year 2024.

Tega Industries Share Price Target 2025

when Maximum Price Minimum Price
January 2025 ₹1,232.94 ₹948.42
February 2025 ₹1,264.55 ₹972.73
March 2025 ₹1,313.87 ₹1,010.67
April 2025 ₹1,288.11 ₹990.85
May 2025 ₹1,250.59 ₹961.99
June 2025 ₹1,306.87 ₹1,005.28
July 2025 ₹1,281.24 ₹985.57
August 2025 ₹1,320.87 ₹1,016.05
September 2025 ₹1,367.10 ₹1,051.62
October 2025 ₹1,402.64 ₹1,078.96
November 2025 ₹1,437.71 ₹1,105.93
December 2025 ₹1,473.65 ₹1,133.58
  • TEGA Industries’ highest expected share price for the year occurs in December 2025, with a maximum price of ₹1,473.65 per share.
  • The lowest expected share price for the year is in January 2025, with a minimum price of ₹948.42 per share.

Despite monthly fluctuations and occasional volatility, the overall trajectory is one of consistent growth. This implies that TEGA Industries is likely making strategic decisions and achieving operational success, which is reflected in its share price performance.

Tega Industries Share Price Target 2026 To 2030

Year Maximum Price (₹) Minimum Price (₹)
2026 ₹1,547.34 ₹1,083.14
2027 ₹1,702.07 ₹1,191.45
2028 ₹2,382.90 ₹1,191.45
2029 ₹2,063.12 ₹1,031.56
2030 ₹2,682.05 ₹1,877.43

As per our analysis, we expect a consistent and significant growth trend in TEGA Industries’ expected share prices over these five years. The maximum share price increases from ₹1,547.34 in 2026 to ₹2,682.05 in 2030.

Two standout years in terms of share price growth are 2028 and 2030. In 2028, the share price will make a substantial leap, and by 2030, it will reach its highest point in this dataset. These years might correspond to significant developments, achievements, or market conditions benefiting TEGA Industries. In 2029, there’s a noticeable dip in share prices compared to the previous and subsequent years. This dip might be due to various factors, such as economic conditions, industry-specific challenges, or company-specific events.

The trend of consistent growth is promising, but it’s essential to conduct further research and analysis to understand the underlying reasons behind these share price movements. External factors, market conditions, and the company’s financial performance can all contribute to these trends.

Tega Industries Financial Condition (Last 5 Years)

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Sales +
(In Crore INR)
634 685 806 952 1,214
Expenses +
(In Crore INR)
534 576 613 768 942
Operating Profit
(In Crore INR)
100 109 193 184 272
OPM % 16% 16% 24% 19% 22%
Other Income +
(In Crore INR)
9 12 50 27 25
(In Crore INR)
25 23 19 17 19
(In Crore INR)
38 38 40 39 41
Profit before tax
(In Crore INR)
46 59 184 155 236
Tax % 30% -11% 26% 25% 22%
Net Profit +
(In Crore INR)
33 66 136 117 184
EPS in Rs 5.66 11.37 23.68 17.63 27.73
Dividend Payout % 0% 0% 0% 0% 7%
In a five-year financial analysis of TEGA Industries, we observe consistent growth in sales, profitability, and responsible financial management, punctuated by fluctuations in operational performance.
  • TEGA Industries Sales Growth: TEGA Industries has grown its sales revenue over the five-year period, starting at ₹634 million in March 2019 and reaching ₹1,214 million in March 2023.
  • TEGA Industries Expense Trends: The company’s expenses have also increased steadily, reflecting the operational costs associated with expanding business activities.
  • Operational Profitability: The Operating Profit Margin (OPM %) has fluctuated but generally improved. It reached 24% in March 2021, dipped to 19% in March 2022, and rebounded to 22% in March 2023.
  • Other Income: The category of other income, which includes non-operational earnings, saw significant growth from ₹9 million in March 2019 to ₹50 million in March 2021, demonstrating the company’s ability to generate income beyond its core operations.
  • Financial Stability: Interest and depreciation expenses have remained relatively stable, indicating consistent financial management practices.
  • Profitability Trends: The profit before tax has followed an upward trajectory, with an increase from ₹46 million in March 2019 to ₹236 million in March 2023.
  • Net Profitability: Net profit has grown consistently, from ₹33 million in March 2019 to ₹184 million in March 2023, indicating the company’s ability to generate profits after all expenses.
  • Shareholder Returns: Earnings per Share (EPS) has steadily increased from ₹5.66 in March 2019 to ₹27.73 in March 2023, reflecting the growth in profitability.
  • Dividend Initiatives: In March 2023, the company initiated a dividend payout of 7%, signifying a commitment to rewarding shareholders for their investments.

This analysis underscores TEGA Industries’ financial progress and stability over the five-year period, characterized by revenue growth, improved profitability, and responsible financial management. However, financial performance can be influenced by various external factors, so comprehensive evaluation should consider the broader economic context.

Also read:


What Is The Share Price Target For Tega Industries By 2025?

The target share prices for TEGA Industries in the year 2025 show a consistent upward trend, ranging from ₹948.42 in January to ₹1,473.65 in December, reflecting robust growth over the course of the year.

What Is The Share Price Target For Tega Industries By 2030?

TEGA Industries’ target share prices for the year 2030 range from ₹1,877.43 to ₹2,682.05 for TEGA Industries.

What is the current Return on Equity (ROE)?

Tega Industries’ Return on Equity (ROE) has averaged 20.7% over the last year, with a 3-year average of 21% and a 5-year average of 18%.

Is Tega Industries a debt-free company?

No, Tega Industries is not a debt-free company. They have a total debt of ₹360 crore.

Should One Invest In Tega Industries?

TEGA Industries’ financial performance over the past five years reflects a company on an upward trajectory. With a strong focus on profitability and consistent growth, there are compelling reasons to consider investing in this company.

One standout factor is the remarkable profit growth, which has shown an impressive Compound Annual Growth Rate (CAGR) of 46.8% over the last five years. This signifies the company’s ability to generate increasing profits over time, indicating a healthy and vibrant business.

Furthermore, the continuous growth in Earnings per Share (EPS) at a robust rate of 34% demonstrates the company’s capacity to sustain its growth trajectory. EPS growth is a critical indicator of shareholder value, and TEGA Industries’ consistent expansion in this area underscores its commitment to delivering value to its investors.

It’s worth noting that the company has also initiated dividend payouts, starting at 7%, which is a positive sign for investors looking for returns on their investments.

In summary, TEGA Industries presents a promising investment opportunity. The company’s impressive profit growth sustained EPS growth, and the initiation of dividend payouts all contribute to a positive outlook. These factors, coupled with a track record of responsible financial management, indicate a business poised for continued success.

While past performance is encouraging, investing always carries inherent risks, and thorough research and consideration of personal financial objectives are essential. However, based on the trends and data presented, TEGA Industries appears to have a bright future, making it an appealing prospect for potential investors seeking growth and value in their portfolios.

Topics #TEGA Industries