TARSONS

Tarsons Products Limited

Tarsons Products Limited (TARSONS) financial statements and selected valuation metrics through 30 June 2026.

Healthcare›Healthcare›Healthcare Equipment & Supplies›Medical Equipment & Supplies

tarsons.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹331.20
Market cap
1,762 Cr
Stock P/E
158.8
P/B
2.78
Dividend yield
0.6%
ROE (FY26)
2.3%
ROCE (FY26)
4.4%
Operating margin (FY26)
5.1%
Debt / equity (FY26)
0.60
OCF / EBITDA (FY26)
100.5%
OCF / EBITDA (3Y)
102.1%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Tarsons makes plastic labware and consumables, such as bottles, roller bottles and liquid-handling products, for laboratories at pharma and biopharma companies, research institutes, universities and contract research firms in India and overseas.

Company snapshot

4thBy market cap

Ranked among 8 companies in Medical Equipment & Supplies.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 79.6% of revenue

SegmentRevenue shareRevenuePBTAssets
Germany
20.4%
20 Cr2 Cr117 Cr
India
79.6%
76 Cr29 Cr962 Cr
Inter-Segment Elimination
0.0%
0.01 Cr0.0050 Cr-156 Cr
Rest of the World—0 Cr-0.52 Cr104 Cr

What we see

Positives
  • ✓102% of operating profit came in as cash over the last three years — profits are backed by real cash.
Concerns
  • ✗Interest coverage of 0.9x — earnings barely cover interest payments, which is a warning sign.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricMar 2022Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales85 Cr62 Cr106 Cr85 Cr99 Cr96 Cr113 Cr91 Cr102 Cr108 Cr121 Cr110 Cr
Operating expenses (approx.)41 Cr39 Cr75 Cr66 Cr74 Cr66 Cr76 Cr67 Cr75 Cr76 Cr87 Cr84 Cr
EBITDA44 Cr23 Cr30 Cr19 Cr25 Cr30 Cr37 Cr25 Cr27 Cr32 Cr34 Cr26 Cr
OPM %52.2%37.0%28.6%22.1%25.5%31.0%32.9%27.0%26.8%29.2%28.3%23.6%
Other income3 Cr3 Cr3 Cr3 Cr8 Cr0.85 Cr4 Cr3 Cr6 Cr8 Cr7 Cr6 Cr
Interest0.45 Cr3 Cr4 Cr4 Cr5 Cr5 Cr5 Cr5 Cr5 Cr6 Cr6 Cr6 Cr
Depreciation7 Cr10 Cr12 Cr11 Cr14 Cr17 Cr20 Cr20 Cr22 Cr25 Cr29 Cr27 Cr
Profit before tax39 Cr14 Cr17 Cr6 Cr15 Cr8 Cr16 Cr3 Cr6 Cr8 Cr6 Cr-1 Cr
Tax %24.9%26.7%39.5%36.4%30.8%34.7%34.5%41.2%40.6%32.9%27.5%-9.1%
Net profit29 Cr10 Cr10 Cr4 Cr10 Cr5 Cr10 Cr2 Cr3 Cr5 Cr4 Cr-1 Cr
EPS (₹)₹5.69₹1.87₹1.94₹0.75₹1.93₹0.99₹1.92₹0.34₹0.62₹0.95₹0.79₹-0.27

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2021Mar 2022Mar 2024Mar 2025Mar 2026TTM
Sales229 Cr301 Cr296 Cr392 Cr423 CrSign in free for the trailing twelve months
Operating expenses (approx.)125 Cr148 Cr197 Cr282 Cr305 CrSign in free for the trailing twelve months
EBITDA103 Cr153 Cr100 Cr111 Cr118 CrSign in free for the trailing twelve months
OPM %45.2%50.8%33.7%28.2%27.9%Sign in free for the trailing twelve months
Other income5 Cr8 Cr11 Cr16 Cr24 CrSign in free for the trailing twelve months
Interest3 Cr4 Cr10 Cr19 Cr23 CrSign in free for the trailing twelve months
Depreciation14 Cr22 Cr40 Cr62 Cr97 CrSign in free for the trailing twelve months
Profit before tax92 Cr135 Cr61 Cr45 Cr22 CrSign in free for the trailing twelve months
Tax %25.5%25.4%29.8%33.6%34.6%Sign in free for the trailing twelve months
Net profit69 Cr101 Cr43 Cr30 Cr14 CrSign in free for the trailing twelve months
EPS (₹)₹13.43₹19.46₹8.01₹5.60₹2.69Sign in free for the trailing twelve months
Dividend payout %—0.0%0.0%35.7%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2021Mar 2022Mar 2024Mar 2025Mar 2026
Equity capital0.19 Cr11 Cr11 Cr11 Cr11 Cr
Reserves244 Cr479 Cr602 Cr620 Cr624 Cr
Borrowings33 Cr22 Cr257 Cr329 Cr383 Cr
Other liabilities18 Cr33 Cr103 Cr121 Cr169 Cr
Total liabilities296 Cr544 Cr972 Cr1,080 Cr1,186 Cr
Fixed assets (net)114 Cr188 Cr248 Cr455 Cr657 Cr
CWIP22 Cr32 Cr267 Cr233 Cr159 Cr
Investments—0 Cr0 Cr0 Cr0 Cr
Inventories47 Cr82 Cr129 Cr126 Cr130 Cr
Trade receivables47 Cr65 Cr78 Cr80 Cr85 Cr
Cash & bank2 Cr77 Cr17 Cr25 Cr23 Cr
Other assets65 Cr99 Cr234 Cr161 Cr132 Cr
Total assets296 Cr544 Cr972 Cr1,080 Cr1,186 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2021Mar 2022Mar 2024Mar 2025Mar 2026
Cash from operating activity68 Cr83 Cr103 Cr114 Cr118 Cr
Cash from investing-64 Cr-138 Cr-285 Cr-145 Cr-130 Cr
Cash from financing-27 Cr130 Cr136 Cr39 Cr9 Cr
Net cash flow-23 Cr75 Cr-47 Cr8 Cr-2 Cr
Free cash flow (OCF − Capex)6 Cr-49 Cr-82 Cr-37 Cr-7 Cr

Ratios

MetricMar 2021Mar 2022Mar 2024Mar 2025Mar 2026
ROCE %34.3%27.2%8.2%6.7%4.4%
ROE %28.2%20.6%7.0%4.7%2.3%
Debtor days7579967474
Inventory days379431745573647
Days payable48688571101
Cash conversion cycle405442757576620
OCF / EBITDA %65.9%54.7%102.9%103.2%100.5%
OCF / EBITDA % (3 years)————102.1%
Debt / equity0.140.040.420.520.60
Current ratio2.707.001.101.381.01
Net debt / EBITDA0.30-0.372.402.743.05