TCC Concept Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

TCC Concept Ltd trades at ₹291, in a downtrend and 32 weeks into that stage. That is −27.0% against its own 200-day average. It sits at 5% of a 52-week range of ₹271 to ₹646. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (19 weeks and counting).

Today the stock is in a downtrend — week 32 of stage 4, confirmed. At ₹291 it trades −27.0% versus its 200-day average and sits at 5% of its 52-week range (₹271–₹646).

Against the market, two honest reads. Cumulative: over the last 3.1 years the stock moved +1,693% while the NIFTY 500 moved +44% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (19 weeks and counting; last ahead the week of 2026-04-30) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

TCC Concept Ltd trades at 20.9× P/E, about the cheapest it has ever traded. Its long-run median P/E is 38.3×, measured across 2.2 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 20.9× is about the cheapest it has ever traded, against a long-run median of 38.3× measured over 2.2 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

Why the multiple sits where it does: over the past year annual EPS moved +12.3% against a −44.5% price move — earnings outran the price, pushing the multiple DOWN its own range.

Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

TCC Concept Ltd reads as mixed on its fundamental arc. Mixed — revenue growth is rising at +206.5% while profit growth is decelerating from its peak at +51.1% — the curves disagree, so the per-curve reads carry the story. The read is built from 8 quarters across 3 curves, on partial evidence.

Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

4-Factor Sector Score

47.3/100 — rank 15 of 36 in Miscellaneous · 81% evidence confidence

TCC Concept Ltd scores 47.3 out of 100 against the 36 companies it is compared with in Miscellaneous, ranking 15. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 17.3 + 11.4 + 14.1 + 4.5 = 47.3. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

TCC Concept Ltd reported ₹128 Cr of revenue in the Jun 26 quarter, +481.8% year on year. That is the 6th straight quarter of year-on-year growth. Over 10 years it has compounded at 43.0% a year. The last full year, FY26, came in at ₹179 Cr. The last four reported quarters add to ₹285 Cr.

FY26 revenue came in at ₹179 Cr (+115.7% on the year), capping 10 years at 43.0% compound. The latest quarter (Jun 26) printed ₹128 Cr, +481.8% year on year — the 6th consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +203.1% growth against the decade's 43.0% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +206.5% over the last 4 quarters against +86.4%/yr over the last 8 — accelerating; TTM profit +51.1% vs +71.9%/yr — rolling over.

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

TCC Concept Ltd's operating margin is 36.0% in the Jun 26 quarter, −45.0 percentage points against the same quarter a year ago. Across 11 fiscal years the operating margin has ranged −4.0% to 88.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 36.0%, −45.0 pp against the same quarter a year ago. Across 11 fiscal years the operating margin has ranged −4.0%–88.0%.

🚨 Why the margin moved: operating margin went −45.0 pp year on year while gross margin went −14.8 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

TCC Concept Ltd earned ₹13.0 Cr of net profit in the Jun 26 quarter, +44.4% year on year. It is the 6th consecutive quarter of growth. Full-year FY26 profit was ₹65.0 Cr. That is 10.2% of the quarter's revenue. The same quarter a year earlier earned ₹9.0 Cr.

Jun 26 profit was ₹13.0 Cr, +44.4% year on year — the 6th consecutive quarter of growth. On the full year, FY26 printed ₹65.0 Cr (+54.8%).

Why profit moved: revenue contributed +481.8% and the margin −45.0 pp — the quarter was revenue-led despite a thinner margin.

Pace comparison, last four quarters: profit +44.5% vs revenue +203.1%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 113% of TCC Concept Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹113 Cr of operating cash against ₹65.0 Cr of profit. After ₹1,229 Cr of capital spending, ₹−1,116 Cr was left as free cash.

FY26: operating cash of ₹113 Cr against reported profit of ₹65.0 Cr, leaving free cash of ₹−1,116 Cr after ₹1,229 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 113% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

Why conversion sits at 113%: the cash cycle stretched 78 days between FY19 and FY26 — more of each rupee of profit waits inside the cycle before arriving.

Router verdict: the bigger cash user is investment — capital spending ran 28.4× depreciation over three years, so the next section's job is to check what that build-out is buying.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

TCC Concept Ltd's cash conversion cycle runs 118 days in FY26, up from 40 days in FY19. Capital spending ran ₹1,844 Cr over the last 3 years. At FY26 sales of ₹179 Cr each day of that cycle holds about ₹0.5 Cr, so roughly ₹58.0 Cr sits inside the business at any moment.

FY26: debtors at 118 days (an asset-light business — no inventory to speak of) — for a full cycle of 118 days, looser than FY19's 40.

In money terms: at FY26 sales of ₹179 Cr, each day of the cycle holds about ₹0.5 Cr — so the 118-day loop keeps roughly ₹58.0 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹1,844 Cr over the last 3 fiscal years against ₹65.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹74.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified

TCC Concept Ltd earns a ROCE of 6% in FY26. That is up from a trough of −6% in FY15. Return on invested capital clears the cost of that capital by −8.2 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 36.3% net margin on 0.08× asset turns.

FY26 ROCE is 6%, recovered from a FY15 trough of −6% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY26): 36.3% net margin × 0.08× asset turns × 1.28× balance-sheet leverage ≈ 3.7% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: 3.8% − 12.0% = a −8.2 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

TCC Concept Ltd carries total debt of ₹291 Cr against shareholder equity of ₹1,645 Cr as of Mar 26, a debt-to-equity of 0.18 — effectively unlevered. On the annual view that ratio went from 0.00 in FY23 to 0.18 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Mar 26: total debt of ₹291 Cr against shareholder equity of ₹1,645 Cr — a debt-to-equity of 0.18. On the annual view, debt-to-equity went from 0.00 (FY23) to 0.18 (FY26). The returns on this page are earned, not borrowed.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Promoters cut 13.8 points of TCC Concept Ltd over 8 quarters, the biggest move on the register. That takes promoters to 45.7% of the company. Foreign institutions moved +2.5 points over the same window, to 2.6%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: −13.8 points over 8 quarters to 45.7%; Foreign institutions: +2.5 points over 8 quarters to 2.6%; Domestic institutions: −1.3 points over 8 quarters to 2.3%.

🚨 Why the register moved: promoters drove it (−13.8 points), absorbed on the other side by foreign institutions (+2.5 points) — distribution into the market’s bid.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

TCC Concept Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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