Thejo Engineering Limited is an India-based company engaged in rubber lagging and industrial services, acting as an engineering solutions provider for bulk material handling, mineral processing, and corrosion protection across core sector industries such as mining, power, steel, cement, ports, and fertilizers.
The company was incorporated as a Private Limited Company on March 26, 1986, under the name Thejo Engineering Services Private Ltd. It later acquired the business of M/s Thejo Engineering Services, a partnership firm, on December 1, 1986. The company name was subsequently changed to Thejo Engineering Private Limited on June 17, 2008, and its status was converted to a Public Limited Entity on August 1, 2008, becoming Thejo Engineering Limited.
Thejo Engineering has established itself as a comprehensive engineering solutions provider, offering an integrated approach to its core service areas. It is a premium provider to mining, mineral processing, and bulk material handling industries through manufacturing products and offering onsite maintenance via technical services. Key industries served include mining, mineral processing, steel making, aggregates and sand, power, chemical and fertilizer, cement, and ports.
The company's operations are segmented into Manufacturing Units, Service Units, and Others. Its product portfolio encompasses the design, manufacture, and supply of engineering products for bulk material handling, mineral processing, and corrosion protection. The product business focuses on the design, development, manufacture, and supply of rubber and polyurethane-based engineered products for belt cleaning, spillage control, flow enhancement, impact and abrasion protection, and screening applications.
Thejo Engineering offers a comprehensive range of products, including:
- Conveyor care systems: Belt conveyor splicing and repair chemicals, vulcanizing equipment, pulley protection, handling equipment, and splicing and repair tools.
- Transfer point solutions: Belt cleaners and trackers, impact cushion pads, skirt sealing systems, and engineered chutes, along with related services.
- Dust suppression equipment.
- Flow promotion products.
- Abrasion and wear protection systems.
- Screening solutions.
- Filtration products.
Thejo Engineering stands out as one of the few companies in the subcontinent offering manufacturing, marketing, and servicing activities under one roof. It boasts a global presence through subsidiaries in Australia, Saudi Arabia, Brazil, and Chile, catering to markets in India, Australasia, the Middle East, South America, North America, Sub-Saharan, and West Africa.
The company operates four facilities and an in-house R&D Centre in Chennai, India, complemented by distributor networks in the UAE and Africa. Systematic expansion has been a key strategy, with the commissioning of a Polyurethane Unit in 2013 and a Lining Unit in 2014. Further global reach was achieved by incorporating two subsidiaries: Thejo Brasil Comercio E Servicos Ltda, Brazil, and Thejo Engineering LatinoAmerica SpA, Chile, in 2014-15.
Recent expansion activities include the expansion of its manufacturing facility in Ponneri, Chennai, in 2023. This state-of-the-art facility, which commenced operations on March 24, 2023, is designed to produce rubber screens, mill liners, diaphragms, shell lifter bars, pinch valves, splicing kits, and rubber sheets.
Thejo Engineering has demonstrated consistent performance in a specialized sector.
- Q4 FY2024-25 Performance:
- Net profit rose 21.96% to ₹15.22 crore against ₹12.48 crore in Q4 FY2023-24.
- Sales rose 8.78% to ₹153.19 crore against ₹140.82 crore in Q4 FY2023-24.
- Full Year FY2024-25 Performance:
- Net profit declined 10.33% to ₹49.89 crore against ₹55.64 crore in FY2023-24.
- Sales declined 1.19% to ₹552.74 crore against ₹559.40 crore in FY2023-24.
- TTM Profit: Trailing Twelve Months (TTM) profit after tax was ₹47 crore.
- Revenue Growth (5 years): Averaged 19.53% yearly, surpassing the industry average of 8.61%.
- Net Income Growth (5 years): Averaged 33.05% yearly, exceeding the industry average of 26.63%.
- Dividend: The Board recommended a final dividend of ₹5 per equity share (50%) at its meeting on May 28, 2025.
- Market Capitalization: ₹1,992.83 Crore (as of June 6, 2025), classifying it as a Small Cap company (per Value Research).
- 52-Week High: ₹3,707.90
- 52-Week Low: ₹1,446
- P/E (Price-to-Earnings) Ratio: 45.08, a 6% premium to its peers' median range of 42.45.
- P/B (Price-to-Book) Ratio: 7.47, a 43% premium to its peers' median range of 5.21.
The company's leadership includes VA George as Chairman and Manoj Joseph as Managing Director. Promoter holding in Thejo Engineering Ltd decreased slightly to 53.62% as of December 2024 from 54.02% as of March 2024. Importantly, there is no promoter pledging reported, indicating strong corporate governance.
Thejo Engineering Ltd is listed on both the BSE (BSE Code: ) and NSE (NSE Symbol: THEJO), with ISIN INE121N01019. Its shares are actively traded, providing accessibility for both retail and institutional investors.
Thejo Engineering continues to strengthen its position in the engineering solutions space, serving critical industries across multiple geographies while maintaining its focus on innovation and operational excellence in bulk material handling and mineral processing applications.
