# TGV Sraac share price today (TGV Sraac Ltd, NSE: TGVSL)

> TGV Sraac share price today: ₹117.26 at the NSE close on 4 November 2026, up 2.6% in a year. TGV Sraac (NSE: TGVSL) is worth ₹1,260 crore, trades at a P/E of 9.1 and has closed between ₹81.43 and ₹126.60 over the past 52 weeks. > TGV Sraac Ltd's earnings have grown faster than its share price. Earnings per share grew +43.3% in a year while the price moved +2.6%. TGVSL · Chemicals - Inorganic - Caustic Soda/Soda Ash · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/tgv-sraac-ltd

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹117.26 (+2.6% in a year)
- P/E: 9.1× (lower than 54% of the last 11 years)
- Revenue (Jun 2026): ₹543 Cr (+10.6% on a year ago)
- Profit (Jun 2026): ₹45.0 Cr (+15.4% on a year ago)
- Operating margin: 18.0% (−1.0 points on a year ago)
- ROCE: 13%, FY26
- ROIC: 9.0%, against a 12.0% cost of capital: −3.0 points

The main question: yearly earnings per share moved +43.3% while the share price moved +2.6%. ## What is the TGV Sraac share price today? TGV Sraac Ltd's share price was ₹117.26 at the close on 4 November 2026. It has been rising for 6 weeks. That is 8.6% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹81 and ₹127, and at that close it sat 79% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 17 weeks in a row. Over the last 11 years the share price moved +681% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at TGV Sraac this quarter? Three changes stood out: profit up on a year earlier for 8 quarters in a row, promoters raised their stake for 4 quarters in a row and highest quarterly profit in 14 quarters. 1. Profit up on a year earlier for 8 quarters in a row In the June 2026 quarter profit was ₹45 crore, +15.4% on a year earlier. 2. Promoters raised their stake for 4 quarters in a row From 63.8% to 64.4% of the company by the September 2026 quarter. 3. Highest quarterly profit in 14 quarters Profit of ₹45 crore in the June 2026 quarter is the highest of the last 14 quarters. ## What are TGV Sraac's latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), TGV Sraac reported revenue of ₹543 crore, up 10.6% from ₹491 crore a year earlier, and a profit of ₹45.0 crore, up 15.4% from ₹39.0 crore. ### TGV Sraac results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹543 crore | ₹491 crore | +10.6% |
| Profit | ₹45.0 crore | ₹39.0 crore | +15.4% |
| Earnings per share | ₹4.24 | ₹3.62 | +17.1% |
| Operating margin | 18.0% | 19.0% | −1.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the TGV Sraac share price history? TGV Sraac closed at ₹117.26 on 4 November 2026, up 2.6% from ₹114.25 a year earlier (7 November 2025) and up 106.8% over five years. Its highest weekly close since March 2016 was ₹172.25 on 7 October 2022. ### TGV Sraac share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹109.45 | +7.1% |
| 1 month ago · 1 Oct 2026 | ₹116.50 | +0.7% |
| 1 year ago · 7 Nov 2025 | ₹114.25 | +2.6% |
| 3 years ago · 3 Nov 2023 | ₹113.50 | +3.3% |
| 5 years ago · 4 Nov 2021 | ₹56.70 | +106.8% |
| 10 years ago · 4 Nov 2016 | ₹22.80 | +414.3% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹15.02 | +680.7% |
| Highest weekly close since March 2016 · 7 Oct 2022 | ₹172.25 | −31.9% |
| Lowest weekly close since March 2016 · 27 Mar 2020 | ₹12.25 | +857.2% |
| 52-week high (weekly close) · 16 Oct 2026 | ₹126.60 | −7.4% |
| 52-week low (weekly close) · 13 Mar 2026 | ₹81.43 | +44.0% |

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (543 weekly closes from 11 March 2016 to 4 November 2026.)

## What is the latest news on TGV Sraac? 4 Nov 2026: TGV Sraac closed at ₹117.26, up 7.1% on the week and up 0.7% on the month. 18 Sep 2026: ex-date for a dividend of ₹1 a share. ### Earlier

- Results for April to June 2026: Revenue up 10.6% and profit up 15.4% on a year earlier. ## What dividend does TGV Sraac pay? TGV Sraac paid ₹1 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.85% at the ₹117.26 close on 4 November 2026. The last was a dividend of ₹1 a share, ex-date 18 September 2026. ### TGV Sraac dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 18 Sep 2026 | ₹1 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 0 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. TGV Sraac Ltd paid out 8% of its profit as dividends in FY26, and it paid a dividend in 4 of its last 13 reported years. (From the NSE corporate-actions record, read 5 November 2026.)

## What did TGV Sraac management say on the latest results call? TGV Sraac's management made 0 promises we could check against what it later reported. (Our read after the April to June 2026 results, written 10 October 2026.)

## What is the future of TGV Sraac? What is changing in the business? The changes showing up in TGV Sraac's own numbers are costs spread over more sales. It is too early to say whether they last. Costs spread over more sales too early to call

Operating profit rose from ₹278 crore to ₹355 crore across the two four-quarter periods, while revenue rose from ₹1,861 crore to ₹2,002 crore. Management identifies power cost reduction as a priority, but its next chloromethanes expansion remains under construction. Why it may last: Owned power equipment can provide continuing savings, but the disclosures also attribute improvement to purchased electricity. The separate contributions of permanent savings and changing market prices would determine how much persists. What could be flattering it: Better chemical realised prices or temporarily low purchased electricity could account for much of the improvement. Strong cash generation could also partly reflect suppliers being paid later. Next check: Operating margin exceeds the corresponding previous-year quarter while management separately identifies electricity cost per unit and output from commissioned capacity. Quarter by quarter, 3 quarters

July to September 2025

A company filing confirms commissioning of power equipment, and the rating rationale attributes lower power costs to lower purchased electricity and solar power. Revenue increased from ₹428 crore to ₹500 crore, while operating profit increased from ₹68 crore to ₹93 crore. Operating margin rose from 15.99% to 18.59%. ✓ fact

From our notes of the call for July to September 2025: Reduction in power cost has been primarily supported by higher sourcing of lower power through open access and increasing share of solar power. October to December 2025

Revenue fell from ₹455 crore to ₹448 crore compared with the previous December, yet operating profit increased from ₹56 crore to ₹77 crore and operating margin rose from 12.26% to 17.28%. This supports improved operating economics rather than greater sales alone. The filing explains that the asset-life accounting change applies prospectively; higher depreciation should not all be attributed to new factories. ✓ fact

From our notes of the call for October to December 2025: This change in accounting estimate has been applied prospectively with effect from April 1, 2025. January to March 2026

Operating profit increased from ₹59 crore to ₹85 crore on revenue increasing from ₹487 crore to ₹511 crore. Operating margin rose from 12.04% to 16.56%. The annual report continues the power cost reduction programme, while identifying a further expansion that is still under construction. ✓ fact

From our notes of the call for January to March 2026: The company is giving main thrust to cost reduction in power front. We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Checked against results and calls up to January to March 2026, 10 October 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.)

## What could change the TGV Sraac story? What are the risks? A commissioning update showing that expanded chemical capacity cannot earn positive incremental operating profit after power and chlorine-disposal costs would break the expansion-led recovery thesis. ### Each change stops working if

- Existing operations recover: Sales growth persists but operating profit falls as product prices or power costs offset the volume benefit. - Chemical-capacity commissioning: Commissioning slips or incremental sales fail to cover incremental operating and financing costs. - Captive solar contribution: New generation fails to displace purchased power economically or product-price declines absorb the savings. - Operating cash supports reinvestment: Supplier credit reverses while expansion spending continues and operating cash no longer covers reported profit. ### The main risks

- Expansion funding and execution: Financing costs can arrive before expanded capacity contributes. ⚠ estimate
- Supplier-credit dependence: Longer payment periods support operating cash but may reverse. ⚠ estimate
- Commodity pricing and retained power savings: More capacity and lower power need not translate into retained profit. ⚠ estimate
- Depreciation comparability: Changed asset-life estimates complicate profit comparisons. ⚠ estimate

(Our read after the April to June 2026 results, written 10 October 2026.)

## What to watch in TGV Sraac's next results? When TGV Sraac reports July to September 2026, these are the check that show whether the story is still on course. First: Operating margin exceeds the corresponding previous-year quarter while management separately identifies electricity cost per unit and output from commissioned capacity. | What to check | Why |
| --- | --- |
| Operating margin exceeds the corresponding previous-year quarter while management separately identifies electricity cost per unit and output from commissioned capacity. | Costs spread over more sales |

## Which stock lists is TGV Sraac on? TGV Sraac is on one of our India lists: Momentum stocks. [Momentum stocks Market cap cr: 1255.476456066563](https://www.sectoralpha.in/momentum-stocks-india)

## Is TGV Sraac profitable? TGV Sraac Ltd earned ₹45.0 Cr of net profit in the Jun 2026 quarter, +15.4% on the same quarter a year earlier. That is the 8th quarter in a row of profit growth. Full-year FY26 profit was ₹132 Cr. Over 10 years profit has grown 18.6% a year on average. That is 8.3% of the quarter's revenue. The same quarter a year earlier earned ₹39.0 Cr. For the full year, FY26 profit was ₹132 Cr (+43.5% on the year before). Why profit moved: revenue changed +10.6% on a year earlier and the margin moved −1.0 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed +17.9% and revenue +7.7%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. FY27-Q1. Revenue grows, with lower depreciation and interest helping profit. Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters. ## How much revenue does TGV Sraac make, and is it growing? TGV Sraac Ltd reported ₹543 Cr of revenue in the Jun 2026 quarter, +10.6% on the same quarter a year earlier. That is the 2nd quarter in a row with growth on the year before. Over 10 years it has grown 9.1% a year on average. The last full year, FY26, came in at ₹1,950 Cr. The last four reported quarters add to ₹2,002 Cr. FY26 revenue was ₹1,950 Cr, +11.5% on the year before. Recent pace: the last four quarters grew +7.7% on average, against 9.1% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +7.6%, against +15.2% a year over the last 8 quarters (rolling over); profit over the last 12 months grew +16.9%, against +58.4% a year (rolling over). FY27-Q1. Revenue grows, with lower depreciation and interest helping profit. Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters. ## How much of every ₹100 of sales does TGV Sraac keep? TGV Sraac Ltd's operating margin was 18.0% in the Jun 2026 quarter, 1.0 percentage points lower than the same quarter a year ago. Across 13 years it has been between 9.0% and 23.0%. The latest quarter is within that range. Why the margin moved: operating margin changed −0.9 percentage points on the year while gross margin changed −4.1 points. So the drop came mostly from the gross margin, which means input costs and prices charged. FY27-Q1. Revenue grows, with lower depreciation and interest helping profit. Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters. ## Is TGV Sraac's profit turning into cash? Over the last 3 years, 245% of TGV Sraac Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹338 Cr of operating cash against ₹132 Cr of profit. After ₹334 Cr of spending on assets, ₹4.0 Cr was left over as free cash. Why this happened. The historical cash record supports reinvestment rather than an unexplained accrual-profit story. However, extended payment periods contribute to cash availability and future expansion is described as largely debt funded. Historical conversion reduces concern about reported earnings quality; it does not establish that the next spending program finances itself. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 245% of profit came in as cash: the cash cycle got 31 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. What to look at next: the bigger use of cash is spending on new assets, at 2.2× depreciation over three years. The next section checks what that spending is building. ## Where does TGV Sraac's cash go? TGV Sraac Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 50 days in FY26, down from 81 days in FY21. It spent ₹734 Cr on assets over the last 3 years. Customers take 55 days to pay, and stock sits for 97 days on average. Why this happened. Operating profit recovery precedes the next expansion. At FY26 sales of ₹1,950 Cr, each day of that cycle ties up about ₹5.3 Cr, so roughly ₹267 Cr is tied up in the business at any time. FY26: customers took 55 days to pay and stock sat for 97 days, about 3.2 months of sales sitting as stock, for a full cycle of 50 days, shorter than FY21's 81. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 97 days. Customers pay about 55 days after that. Suppliers are paid at 101 days. Together that makes the 50-day cycle. Spending on assets: ₹734 Cr over the last 3 years, against ₹336 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹220 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is TGV Sraac's P/E ratio, and how does it compare with its own history? TGV Sraac Ltd's P/E is 9.1×, in the middle of its own history: higher than 46% of past readings. Its usual P/E (the middle reading) is 10.1×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +43.3% while the price moved +2.6%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved +15.6% a year; about +33.6% a year came from earnings growth and about −18.0 percentage points from the multiple (the market paying less); over 10 years the price moved +17.8% a year; about +19.1% a year came from earnings growth and about −1.3 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the TGV Sraac share price assume? Worked out from its price on 11 October 2026, TGV Sraac Ltd's share price assumed profit growth of about 2.3% a year. Over the past 10 years its profit actually grew 18.6% a year. Today its P/E is 9.1×, lower than 54% of its own last 11 years. This is a one-day reading, taken on 11 October 2026. Every other number on this page, the multiple included, uses the latest price as of 4 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the TGV Sraac business getting better or worse? TGV Sraac Ltd's business is giving mixed signals. Growth is slowing from a very fast pace: profit growth has eased from +76.8% at its peak to +16.9%, but the business is still expanding, with ROCE steady at 13.8%. This is based on 12 quarters of 4 measures. Why it matters: when the lines disagree, each line above matters more than any single label. ## What is the TGV Sraac story, and has it been checked? TGV Sraac Ltd's story is not scored yet against the checks our research set on 10 October 2026. Where it sits in its own cycle: TROUGH RECOVERY. Still open: A commissioning update showing that expanded chemical capacity cannot earn positive incremental operating profit after power and chlorine-disposal costs would break the expansion-led recovery thesis. Our read, 10 October 2026. From the numbers. These readings describe different things: a low return position does not mean current operating…

From the price. Price stage 2, week 6, above its 200-day line, relative strength rising. From the research. Where they disagree. These readings describe different things: a low return position does not mean current operating margin is depressed. What is proven. What is not proven yet. A commissioning update showing that expanded chemical capacity cannot earn positive incremental operating profit after power and chlorine-disposal costs would break the expansion-led recovery thesis. What would change our mind. A commissioning update showing that expanded chemical capacity cannot earn positive incremental operating profit after power and chlorine-disposal costs would break the expansion-led recovery thesis. The test written in advance. A commissioning update showing that expanded chemical capacity cannot earn positive incremental operating profit after power and chlorine-disposal costs would break the expansion-led recovery thesis. Measured by: the thesis as written as stated by the next result. The test written in advance. The test written in advance. Expansion funding and execution. Measured by: Expansion funding and execution The planned commercial start slips, or interest expense increases without incremental operating profit. by the next result. What the company does. Reported profit has improved across the supplied annual recovery period and the latest comparable quarters. Cash from operations covers profit, while expansion spending absorbs nearly all the latest annual operating cash. The next test is profitable commissioning without financing costs or commodity pricing erasing the benefit. What the surface reading misses. The surface reading is: Higher sales and profit suggest accelerating operations. The research reads it further: Operating profit rises modestly, while lower depreciation and interest also support profit. The operating-margin row is below the comparable period, so sales growth has not produced demonstrated margin expansion. What the surface reading misses. The surface reading is: Profit growth suggests an operating recovery. The research reads it further: Higher operating profit is partly absorbed by additional depreciation, while lower interest provides an offset. Sources: our stock research file (10 October 2026) · quarterly results through Jun 2026. The story check is re-scored every results season; the record below never changes. ## How much does TGV Sraac earn on its capital? TGV Sraac Ltd earned a ROCE of 13% in FY26. That is up from a low of 5% in FY24. Its return on capital used (ROIC) is 3.0 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 6.8% net margin and 0.92× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 6.8% net margin × 0.92× asset turnover × 1.64× leverage (assets divided by equity) ≈ 10.3% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 9.0% − 12.0% = −3.0 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. ## Does TGV Sraac have too much debt? TGV Sraac Ltd has total debt of ₹356 Cr against shareholder equity of ₹1,297 Cr as of Jun 2026, so its debt is 0.27× its equity, which is very little. Year by year, that ratio went from 0.62 in FY22 to 0.27 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the TGV Sraac shareholding pattern? Promoters raised their stake in TGV Sraac Ltd by 1.2 percentage points over 8 quarters, the biggest change among its owners. Promoters now own 64.4% of the company. Foreign institutions moved +0.2 points over the same period, to 0.2%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Why the owners changed: promoters drove it (+1.2 points). They raised their stake step by step. ## How far is TGV Sraac from balance-sheet trouble? For TGV Sraac Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does TGV Sraac rank in its industry? 68.0 out of 100, rank 1 of 7 in Chemicals - Inorganic - Caustic Soda/Soda Ash, with 81% of the evidence available. TGV Sraac Ltd scores 68.0 out of 100 against the 7 companies it is compared with in Chemicals - Inorganic - Caustic Soda/Soda Ash, ranking 1. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 21.9 + 17.4 + 16.2 + 12.5 = 68. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is TGV Sraac compared with? TGV Sraac ranks 1 of 7 Chemicals - Inorganic - Caustic Soda/Soda Ash companies on the 4-Factor Sector Score, with 68.0 out of 100. 1. TGV Sraac Ltd this page TGVSL · breaking out · Most evidence points up · 81% evidence 68.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.9/35 · Revenue 7.6% · Profit 16.9% · Operating margin change -1 points · 88% evidence Capital efficiency 17.4/25 · ROCE 13% · Operating margin 18% · 100% evidence Valuation 16.2/20 · P/E 8.4× · PEG 0.19 · 100% evidence Relative strength 12.5/20 · Lead over its industry n/a · Lead over NIFTY 500 9.7% · 1 year -9.2% · 25% evidence · 5 of 5 weeks ahead Exact sum: 21.9 + 17.4 + 16.2 + 12.5 = 68 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Gujarat Alkalies & Chemicals Ltd](https://www.sectoralpha.in/stocks/gujarat-alkalies-chemicals-ltd) GUJALKALI · losing its lead · Evidence leans up · 81% evidence 55.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.1/35 · Revenue 7.1% · Profit 100% · Operating margin change 9 points · 65% evidence Capital efficiency 8.3/25 · ROCE 1.4% · Operating margin 18% · 100% evidence Valuation 13.5/20 · P/E 59.9× · PEG 0.15 · 65% evidence Relative strength 10.3/20 · Lead over its industry 4.1% · Lead over NIFTY 500 -4.3% · 1 year -5.4% · 100% evidence · 5 of 12 weeks ahead Exact sum: 23.1 + 8.3 + 13.5 + 10.3 = 55.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [GHCL Ltd](https://www.sectoralpha.in/stocks/ghcl-ltd) GHCL · quiet · Evidence leans down · 100% evidence 49.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.5/35 · Revenue 1.7% · Profit -4.9% · Operating margin change 1 points · 100% evidence Capital efficiency 18.6/25 · ROCE 17.6% · Operating margin 23% · 100% evidence Valuation 13.8/20 · P/E 6.9× · PEG 1.14 · 100% evidence Relative strength 2.9/20 · Lead over its industry -9.7% · Lead over NIFTY 500 -16.9% · 1 year -41.1% · 100% evidence · 0 of 12 weeks ahead Exact sum: 14.5 + 18.6 + 13.8 + 2.9 = 49.8 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 4. [Tuticorin Alkali Chemicals & Fertilizers Ltd](https://www.sectoralpha.in/stocks/tuticorin-alkali-chemicals-fertilizers-ltd) TUTIALKA · quiet · Evidence leans down · 71% evidence 47.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.0/35 · Revenue 9.3% · Profit -6.7% · Operating margin change -11.2 points · 88% evidence Capital efficiency 17.6/25 · ROCE 22.2% · Operating margin 13.3% · 100% evidence Valuation 8.8/20 · P/E 17.3× · PEG n/a · 50% evidence Relative strength 8.8/20 · Lead over its industry n/a · Lead over NIFTY 500 -10.3% · 1 year -32.7% · 25% evidence · 0 of 5 weeks ahead Exact sum: 12 + 17.6 + 8.8 + 8.8 = 47.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Chemfab Alkalis Ltd](https://www.sectoralpha.in/stocks/chemfab-alkalis-ltd) CHEMFAB · Too little evidence to rank firmly · 56% evidence 43.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.8/43.75 · Revenue -16.2% · Profit 95.3% · Operating margin change 1.5 points · 88% evidence Capital efficiency 4.8/31.25 · ROCE 1% · Operating margin 13.8% · 100% evidence Valuation 12.5/25 · P/E n/a · PEG n/a · 0% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 25.8 + 4.8 + 12.5 = 43.1 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 6. [Primo Chemicals Ltd](https://www.sectoralpha.in/stocks/primo-chemicals-ltd) PRIMO · quiet · Evidence leans down · 71% evidence 42.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 11.0/35 · Revenue -2.7% · Profit -15.5% · Operating margin change 0.5 points · 88% evidence Capital efficiency 11.2/25 · ROCE 6.4% · Operating margin 14.8% · 100% evidence Valuation 8.3/20 · P/E 35.1× · PEG n/a · 50% evidence Relative strength 11.6/20 · Lead over its industry n/a · Lead over NIFTY 500 3.7% · 1 year n/a · 25% evidence · 5 of 12 weeks ahead Exact sum: 11 + 11.2 + 8.3 + 11.6 = 42.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Tata Chemicals Ltd](https://www.sectoralpha.in/stocks/tata-chemicals-ltd) TATACHEM · basing · Most evidence points down · 76% evidence 28.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 5.9/35 · Revenue 2% · Profit -80% · Operating margin change -4 points · 88% evidence Capital efficiency 6.1/25 · ROCE 3.4% · Operating margin 13% · 100% evidence Valuation 10.0/20 · P/E n/a · PEG n/a · 0% evidence Relative strength 6.7/20 · Lead over its industry -3.8% · Lead over NIFTY 500 -11.5% · 1 year -33.1% · 100% evidence · 0 of 12 weeks ahead Exact sum: 5.9 + 6.1 + 10 + 6.7 = 28.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Chemicals - Inorganic - Caustic Soda/Soda Ash](https://www.sectoralpha.in/sectors/chemicals-inorganic-caustic-soda-soda-ash), all 7 compared on one page. ## Which companies are close to TGV Sraac in size? TGV Sraac is the 4th largest of 7 Chemicals - Inorganic - Caustic Soda/Soda Ash companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Tata Chemicals, Gujarat Alkalies & Chemicals and GHCL. Just below it: Tuticorin Alkali Chemicals & Fertilizers, Primo Chemicals and Chemfab Alkalis. ### Chemicals - Inorganic - Caustic Soda/Soda Ash companies close in size

1. [Tata Chemicals Ltd](https://www.sectoralpha.in/stocks/tata-chemicals-ltd) ₹15,174 crore
2. [Gujarat Alkalies & Chemicals Ltd](https://www.sectoralpha.in/stocks/gujarat-alkalies-chemicals-ltd) ₹3,975 crore
3. [GHCL Ltd](https://www.sectoralpha.in/stocks/ghcl-ltd) ₹3,475 crore
4. TGV Sraac Ltd ₹1,171 crore
5. [Tuticorin Alkali Chemicals & Fertilizers Ltd](https://www.sectoralpha.in/stocks/tuticorin-alkali-chemicals-fertilizers-ltd) ₹579 crore
6. [Primo Chemicals Ltd](https://www.sectoralpha.in/stocks/primo-chemicals-ltd) ₹548 crore
7. [Chemfab Alkalis Ltd](https://www.sectoralpha.in/stocks/chemfab-alkalis-ltd) ₹472 crore

[All 7 Chemicals - Inorganic - Caustic Soda/Soda Ash companies, largest first](https://www.sectoralpha.in/sectors/chemicals-inorganic-caustic-soda-soda-ash#all-companies)

### Companies close in size in other industries

1. [B.L.Kashyap & Sons Ltd](https://www.sectoralpha.in/stocks/blkashyap-sons-ltd) ₹1,175 crore · Construction - Civil/Turnkey
2. [Signpost India Ltd](https://www.sectoralpha.in/stocks/signpost-india-ltd) ₹1,172 crore · Advertisement
3. TGV Sraac Ltd ₹1,171 crore
4. [Jyoti Structures Ltd](https://www.sectoralpha.in/stocks/jyoti-structures-ltd) ₹1,169 crore · Capital Goods - Electrical Equipment
5. [McNally Bharat Engineering Company Ltd](https://www.sectoralpha.in/stocks/mcnally-bharat-engineering-company-ltd) ₹1,168 crore · Engineering - Turnkey Services

## What else do people ask about TGV Sraac? ### What is TGV Sraac's share price today? TGV Sraac Ltd's share price is ₹117.26, +2.6% over the past year. The whole company is worth ₹1,260 Cr on the market. In the last 52 weeks it traded between ₹81 to ₹127; today it is 79% of the way up from the low, 8.6% above its 200-day average (as of 4 November 2026). ### What were TGV Sraac's latest quarterly results? TGV Sraac Ltd reported revenue of ₹543 Cr and net profit of ₹45.0 Cr for the Jun 2026 quarter. Revenue rose 10.6% and profit rose 15.4% compared with a year earlier. Earnings per share were ₹4.24. The operating margin was 18.0%, 1.0 percentage points lower than a year earlier (as of 4 November 2026). ### What is TGV Sraac's market cap? TGV Sraac Ltd's market capitalisation is ₹1,260 Cr at a share price of ₹117.26. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is TGV Sraac performing? TGV Sraac Ltd's share price has been rising for 6 weeks. In its latest quarter, revenue rose 10.6% and profit rose 15.4% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 17 weeks running (as of 4 November 2026). ### Will TGV Sraac's share price go up? This page does not forecast TGV Sraac Ltd's share price. What it shows instead: the share price is ₹117.26, and it has been rising for 6 weeks. Its P/E of 9.1× is higher than 46% of its own last 11 years (as of 4 November 2026). ### Who owns TGV Sraac? Promoters own 64.4% of TGV Sraac Ltd, foreign institutions 0.2%, domestic institutions 0.2% and the public 35.2% (latest quarter). The biggest change over the last two years: Promoters raised their stake by 1.2 percentage points over 8 quarters (as of 4 November 2026). ### Does TGV Sraac have too much debt? No, TGV Sraac Ltd has little debt: its debt is 0.28× its equity, and its operating profit is 12 times its interest bill. FY26 borrowings were ₹357 Cr against equity of ₹1,297 Cr. So the returns on this page come from the business, not borrowed money (as of 4 November 2026). ### Where is TGV Sraac in its business cycle? TGV Sraac Ltd's FY26 operating margin was 18.0%, against a 13-year range of 9.0% to 23.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 18.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the TGV Sraac story? The main question: yearly earnings per share moved +43.3% while the share price moved +2.6%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is TGV Sraac a stock worth studying right now? What the numbers show: TGV Sraac Ltd's earnings have grown faster than its share price. Earnings per share grew +43.3% in a year while the price moved +2.6%. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a TGV Sraac share price forecast for 2026? The changes showing up in TGV Sraac's own numbers are costs spread over more sales. It is too early to say whether they last. What would change the story: A commissioning update showing that expanded chemical capacity cannot earn positive incremental operating profit after power and chlorine-disposal costs would break the expansion-led recovery thesis. ## Lists

- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india

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