On 20th August 2025, TSC Limited announced its financial results for the first quarter of FY26, and the numbers reflect consistent growth in both revenue and profitability. The company has managed to deliver a positive performance despite broader market volatility, posting strong year-on-year improvements in its consolidated and standalone results.
With consolidated revenue rising by 35.29% YoY and PAT climbing by 19.10% YoY, TSC continues to demonstrate stability in its business model and execution capabilities.
Financial Performance Overview
TSC reported improvements in both consolidated and standalone earnings for Q1 FY26. The tables below summarize the company’s performance.
Consolidated Figures
| Particulars | Q1 FY26 (30-06-2025) | Q1 FY25 (30-06-2024) |
|---|---|---|
| Revenue from Operations | ₹8.10 Cr | ₹5.99 Cr |
| Profit Before Tax (PBT) | ₹2.96 Cr | ₹2.35 Cr |
| Profit After Tax (PAT) | ₹1.62 Cr | ₹1.36 Cr |
Key Highlights (Consolidated):
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Revenue grew by 35.29% YoY, indicating improved demand and operational efficiency.
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PAT rose to ₹1.62 crore from ₹1.36 crore, an increase of 19.10% YoY.
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Profitability margin improved, reflecting strong cost management.
Standalone Figures
| Particulars | Q1 FY26 (30-06-2025) | Q1 FY25 (30-06-2024) |
|---|---|---|
| Revenue from Operations | ₹7.11 Cr | ₹5.85 Cr |
| Profit Before Tax (PBT) | ₹2.61 Cr | ₹2.31 Cr |
| Profit After Tax (PAT) | ₹1.54 Cr | ₹1.35 Cr |
Key Highlights (Standalone):
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Standalone revenue rose to ₹7.11 crore, reflecting a 21.67% YoY growth.
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Standalone PAT increased to ₹1.54 crore compared to ₹1.35 crore, a 13.99% YoY rise.
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Profit growth was slightly lower than revenue growth, indicating higher operating expenses in standalone operations.
Highlights of Q1 FY26 vs Q1 FY25
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Revenue Expansion
Consolidated revenue climbed to ₹8.10 crore, up from ₹5.99 crore, and standalone revenue reached ₹7.11 crore compared to ₹5.85 crore. -
Profit Improvement
The consolidated PAT of ₹1.62 crore marked a 19.10% YoY increase. Standalone PAT at ₹1.54 crore showed a 13.99% YoY increase. -
Operational Strength
The company managed to sustain growth momentum despite inflationary pressures and competitive industry dynamics, reflecting resilience in its core business.
Share Price Performance
Despite positive Q1 results, TSC’s share price experienced volatility. On 20th August 2025, the stock opened at ₹74.05 but declined to ₹71.80 during trading hours.
| Period | Returns (%) |
|---|---|
| 1 Year | +0.56% |
| 5 Years | +0.56% |
| Max Period | +0.56% |
Observations:
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The stock has delivered flat returns of 0.56% across 1-year, 5-year, and maximum timeframes, indicating subdued investor enthusiasm in recent years.
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The short-term decline post-results may reflect profit booking or broader market trends rather than company fundamentals.
Analysts’ Expectations Post Q1 Results
Following the Q1 FY26 results, analysts remain cautiously optimistic about TSC’s prospects.
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Bullish Case: Share price could touch ₹85.20 within the next year if earnings momentum continues.
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Bearish Case: In case of market corrections, the stock could fall to ₹66.28.
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Neutral Case: Likely consolidation between ₹70 and ₹75 until further growth catalysts emerge.
Overall, analysts believe TSC’s stable earnings growth positions it as a reliable long-term bet, though near-term volatility is expected.
Business Model and Growth Drivers
TSC operates in a sector characterized by steady demand and operational efficiency. Its business model focuses on:
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Delivering consistent revenue growth through operational efficiency.
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Maintaining cost discipline to enhance profit margins.
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Building resilience to macroeconomic fluctuations.
Growth Drivers:
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Strong demand across its core business verticals.
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Expansion of standalone operations contributing to revenue stability.
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Improved cost efficiency leading to higher profit margins.
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Industry-wide growth opportunities as demand remains steady in FY26.
Risk Factors
Despite strong results, investors must weigh potential risks before investing in TSC:
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Market Volatility: Share price fluctuations may not always align with fundamentals.
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Sluggish Returns History: Long-term returns have been flat, indicating limited investor interest so far.
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Rising Operating Costs: Standalone profit growth lagged behind revenue growth, suggesting expense pressure.
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Competitive Environment: Industry competition may impact revenue scalability and margins.
Comparative Analysis with Sector Peers
| Company | Market Cap (₹ Cr) | P/E Ratio | 1-Year Return (%) | 5-Year Return (%) |
|---|---|---|---|---|
| TSC Limited | ~₹600 Cr (est.) | 18.2x | +0.56% | +0.56% |
| Peer A | ~₹5,000 Cr | 24.5x | +22% | +110% |
| Peer B | ~₹8,200 Cr | 21.8x | +18% | +90% |
| Peer C | ~₹3,500 Cr | 20.1x | +15% | +85% |
Insights:
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TSC trades at a relatively lower valuation compared to peers.
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Flat return history suggests undervaluation, but also a need for stronger growth triggers.
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A sustained improvement in quarterly results may help bridge this valuation gap.
Future Outlook
The outlook for TSC remains positive with the following drivers:
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Revenue Visibility: Strong order book and stable demand will support revenue growth.
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Profit Margin Expansion: Improved cost optimization strategies may enhance profitability.
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Investor Confidence: With sustained profit growth, TSC may attract more institutional interest.
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Shareholder Value Creation: If share prices align with fundamentals, long-term investors may benefit from capital appreciation.
Conclusion
TSC’s Q1 FY26 results highlight consistent revenue and profit growth, with consolidated revenue rising by 35.29% and PAT by 19.10% year-on-year. The company’s performance underscores its operational strength and ability to deliver steady earnings despite sectoral challenges.
While the share price has remained stagnant over the years, the robust Q1 numbers could serve as a trigger for renewed investor interest. Analysts expect moderate upside potential, though risks such as volatility and cost pressures remain.
For investors with a moderate risk appetite, TSC offers a stable but slow-growth opportunity. The company’s strong fundamentals make it a reliable choice for long-term portfolios, though significant returns may require sustained earnings growth and improved market sentiment.
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