Company Overview

Teerth Gopicon Limited was originally incorporated as Teerth Gopicon Private Limited at Ahmedabad on October 10, 2019, and subsequently converted into a public limited company on August 5, 2021. The company is an engineering construction company in India specializing in roads, sewerage, and water distribution projects, while also offering comprehensive civil engineering services.

TGL is an ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certified company and is registered as an all-class civil and electrical contractor. The company specializes in engineering construction and development, mainly focusing on roads, sewerage, and water distribution projects in Madhya Pradesh, particularly in the cities of Indore, Chhatarpur, Sagar, Dindori, Jabalpur, and Ujjain. It is also expanding its geographical footprint to other states.

Business Operations and Expertise

TGL has executed various projects for government departments and has worked as a registered civil contractor for various central and state government departments such as ISCDL, IMC, USCL, UMC, and MPJNM. The company has also undertaken building works for the private sector. Beyond government contracts, the company worked as a sub-contractor and constructed a residential tower in the city of Indore.

The company has undertaken a wide range of civil engineering projects such as building construction, water supply, pipelines, sewage network, sewage treatment plant, nalla taps, reuse network, overhead tanks, GSR, road construction, and lake rehabilitation. As at February 29, 2024, the company had a total of 164 permanent employees (including workmen) in various departments.

Market Position and Sector Classification

Teerth Gopicon Ltd (TGL) belongs to the Industrials sector & Construction & Engineering sub-sector. Teerth Gopicon Ltd's top 5 peers in the Infrastructure sector include KCL Infra, Raunaq Intl., and P B A Infra. The company operates in a highly competitive and fragmented construction industry segment.

Financial Performance

The company's financial metrics reflect solid operational performance across key indicators:

- Revenue (TTM): ₹118.27 Crore

- Net Profit (TTM): ₹12.8 Crore

- Revenue Growth (5-Year Avg): 53.22% (vs. industry avg of 10.15%)

- Net Income Growth (5-Year Avg): 92.96% (vs. industry avg of 26.7%)

- Annual Revenue Growth: 13%

- Pre-tax Margin: 15%

- Return on Equity (ROE): 16%

- Debt to Equity Ratio: 16%

Stock Market Data

The market cap of Teerth Gopicon Ltd (TGL) is ₹151.73 Cr as of 16th July 2025. The stock demonstrates significant volatility with the 52-week high of ₹774 and the 52-week low of ₹95.

Key valuation metrics include:

- P/E Ratio: 11.82

- P/B Ratio: 7.87

- EPS (TTM): 21.83

Shareholding Pattern

Promoter holding in Teerth Gopicon Ltd has gone down to 64.61 per cent as of Mar 2025 from 96.50 per cent as of Mar 2024. This significant reduction in promoter holding indicates equity dilution likely due to public offerings or other corporate actions.

IPO and Public Listing

Teerth Gopicon IPO was a SME IPO of 3,999,600 equity shares of the face value of ₹10 aggregating up to ₹44.40 Crores. The issue was priced at ₹111 per share and opened on April 8, 2024, closing on April 10, 2024. The shares are listed on NSE SME.

Recent Developments

On May 30, 2025, audited standalone and consolidated FY25 financial results were approved, and the internal auditor was re-appointed. The company has been actively securing new orders and expanding its business operations, with various announcements regarding receipt of orders and project awards throughout 2024 and early 2025.

The company continues to demonstrate strong operational capabilities in the infrastructure development sector, particularly in Madhya Pradesh, while maintaining healthy financial metrics and expanding its geographic presence. The significant revenue and profit growth rates over the past five years highlight the company's ability to scale operations effectively in India's growing infrastructure sector.