Thejo Engineering Ltd(THEJO)

NSE: THEJO

₹ 1,851.1-4.25%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 2,008 crWebsite: www.thejo-engg.comUpdated: 24 Oct 2026

About

Thejo Engineering Ltd is a Chennai-based engineering solutions provider for bulk material handling, mineral processing and corrosion protection, serving core sector industries including mining, steel, power, cement, ports and fertilisers. It manufactures rubber and polyurethane-based engineered products and delivers on-site maintenance and operations services, making it one of the few companies in the sub-continent offering manufacturing, marketing and servicing under one roof. In FY26 the company reported consolidated revenue of ₹632.09 crore.^[1][2]

Business segments

Service Units: contributed 62.2% of FY26 segment revenue (₹451.98 crore); covers belt conveyor installation, maintenance and operations and maintenance contracts.^[3][1]
Manufacturing Units: contributed 33.4% of FY26 segment revenue (₹242.91 crore); covers design, manufacture and supply of engineered rubber and polyurethane products.^[3][1]
Others: contributed 4.3% of FY26 segment revenue (₹31.58 crore).^[3]

Products and services

Product range covers rubber and polyurethane-based engineered products for belt cleaning, spillage control, flow enhancement, impact and abrasion protection, and screening applications.^[1]
Services encompass on-site belt conveyor installation, maintenance, and full operations and maintenance (O&M) contracts for raw material handling systems.^[1][4]

Manufacturing operations

Manufacturing facilities and an in-house R&D centre are located in Chennai.^[1]
Production of moulded and extruded products reached 2,799 tonnes in FY26, up 11% from 2,533 tonnes in FY25.^[1]
Installed manufacturing capacity is 3,600 tonnes p.a. as of Q2 FY26, prior to the ongoing expansion.^[4]

Key operating numbers

Order book stood at ₹326 crore as of 31 December 2025 (Q3 FY26).^[5]
Revenue mix for 9M FY26: Integrated Services 57%, Engineered Products 43%.^[5]
International revenue share was approximately 30% of revenues in 9M FY26.^[5]
India revenue grew to ₹44,571.87 lakhs in FY26; outside India revenue was ₹18,636.78 lakhs in FY26.^[1]
Exports registered growth of about 21% in FY26 compared to the previous year.^[1]

Customers and distribution

End-industries served: steel, mining, mineral processing, aggregates and sand, power, chemical and fertiliser, cement, and ports.^[1]
Geographic reach covers India, Australasia, Middle East, South America, North America, Sub-Sahara and West Africa.^[1]
The company maintains distributor networks across various geographies.^[1]

Global subsidiaries

Subsidiaries operate in Australia (Thejo Australia Pty Ltd), Saudi Arabia (Thejo Hatcon Industrial Services Company), Brazil (Thejo Brasil), Chile (Thejo Engineering Latino America SpA), and UAE (TE Global FZ LLC, Ras Al-Khaimah).^[1]
Stake in Thejo Australia Pty Ltd was increased during FY25 via purchase of shares from Bridgestone Mining Solutions Australia Pty Ltd; Thejo Brasil stake also increased through share purchase and subscription.^[6]

Expansion and capex

Capacity expansion of ~2,600 tonnes p.a. is underway at a capex of ₹40 crore, targeting ~6,200 tonnes p.a. total, expected to be completed by September 2026.^[4][5]
Total capex on fixed assets was ₹5,338.85 lakhs in FY26, up from ₹2,680.07 lakhs in FY25, with ₹3,459.45 lakhs in India and ₹1,879.40 lakhs outside India.^[1]

Recent developments

In January 2026, UAE subsidiary TE Global FZ LLC received an order for replacement of a steel cord pipe conveyor belt at a government establishment in UAE for AED 6.6 million.^[5]
In Q2 FY26, Thejo secured an O&M contract for the raw material handling system of a major steel plant for October 2025 - September 2028 at an estimated value of ₹129 crore over three years.^[4]
Term loans were pre-closed during FY25; no new borrowings were taken in FY26, lifting the debt service coverage ratio from 5.35x to 14.63x.^[1]
The Perth, Australia branch was closed during FY25 as part of operational strategy realignment.^[6]

Market Cap

₹2,008 Cr

High / Low

₹2,287 / 1,444

Stock P/E

35.9

Price / Book

5.7

Book Value

₹327

EPS

₹45.4

No. of Shares

1.08 Cr

ROCE

19.6%

ROE

15.1%

OPM

11.6%

Debt / Equity

0.01

Sales

₹632 Cr

Net Profit

₹49 Cr

Promoter holding

53.8%

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Thejo Engineering Ltd(THEJO)

About

Business segments

Products and services

Manufacturing operations

Key operating numbers

Customers and distribution

Global subsidiaries

Expansion and capex

Recent developments

Signal history

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Company data

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