TARSONSHealthcare

Tarsons Products Limited

Medical Equipment & Supplies · ISIN INE144Z01023 · BSE 543399 · NSE EQ · FV ₹2
Last price
₹308
+1.82%today
What this company does

Tarsons Products Limited operates in Medical Equipment & Supplies, part of the Healthcare sector. It booked ₹110 cr of revenue in its latest quarter (Q1 FY27) and kept -1.3% of sales as profit. It is the 4th largest of 7 Medical Equipment & Supplies companies we track, by market value.

Tarsons Products Limited (referred to as ‘TPL,’ ‘Tarsons,’ or ‘the Company’) is one of India’s leading labware manufacturers, engaged in the designing, development, manufacturing, and marketing of consumables, reusables, and benchtop equipment & instruments.
Their stated vision

is to grow business and become the most valued Labware Company in the life science space through world-class performance, creating growing value for the Indian economy and the Company’s stakeholders.

In the report:
40out of 100
Equitytale Health Score
Strained

Healthier than 40% of companies in Healthcare, on all six measures of filed financials. Each measure is ranked against the 81–150 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
40

At close. Not part of the score.

Profitability & returns9

How much profit it earns on the money it employs

Balance sheet10

How much it owes, and whether earnings cover the interest

Cash quality52

Whether reported profit actually arrives as cash

Growth & consistency44

Whether sales and profit have grown, and how steadily

Valuation74

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Some things to watch
Strengths
Sales up 21% vs last year
Promoters hold 47%
No promoter shares pledged
Watch-outs
! Currently loss-making
! Thin -1.3% net margin
! Low -0.9% return on equity

What if I invest in TARSONS?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹308 +1.82%
latest close · 2026-09-17
52-wk low ₹287190 sessions so far52-wk high ₹925
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/B ratio2.58Moderate
Below bookModerateHigh
EV / EBITDA15.6High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity-0.9%Loss
WeakFairStrong ▸15%
Return on capital2.1%Weak
WeakFairStrong
Net margin-1.3%Loss
ThinDecentStrong
EBITDA margin29.0%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.60Moderate
LowModerateHigh ▸1
Interest cover0.8×Risky
RiskyOkayStrong ▸5×
Current ratio1.01Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹1,638 cr
Book value
₹119
EPS
₹-0.27
latest quarter
Net debt
₹359 cr
owes more than its cash
Enterprise value
₹1,997 cr
EBITDA
₹128 cr
annualised
EBIT
₹20 cr
annualised
Operating margin
4.5%
Return on assets
-0.5%
Earnings yield
P/S
3.71
Sales / share
₹82.9
Tax rate
Face value
₹2
Shares
5.3 cr
Working capital
₹2 cr
Current assets
₹266 cr
Current liabilities
₹264 cr
Delivery %
43.7%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹49₹135, midpoint ₹92

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹110 cr
Other Income₹6 cr
Total Income₹116 cr
Cost of Materials₹22 cr
Purchases of Stock-in-Trade₹13 cr
Inventory Change (±)₹4 cr
Employee Benefit Expense₹21 cr
Finance Costs₹6 cr
Depreciation & Amortisation₹27 cr
Other Expenses₹24 cr
Total Expenses₹118 cr
Profit before Tax₹-1 cr
Tax Expense₹12 L
Net Profit₹-1 cr
Net margin on total income-1.2%
Where the money goes · Q1 FY27
% of total spend
Materials + stock-in-trade₹39 cr32.9%
Employee benefit expense₹21 cr18.0%
Finance costs₹6 cr5.3%
Depreciation & amortisation₹27 cr23.0%
Other expenses₹24 cr20.7%
Tax expense₹12 L0.1%
Total income ₹116 cr

The company made a net loss of ₹1 cr this quarter — income covered only 99 of every ₹100 it spent on costs and tax.

Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue108 cr121 cr110 cr
Total income116 cr128 cr116 cr
Expenses107 cr122 cr118 cr
Profit before tax8 cr6 cr-1 cr
Tax2 cr2 cr12 L
Net profit (owners' share)5 cr4 cr-1 cr
Net margin (owners' share, on revenue)4.7%3.5%-1.3%
EPS (₹)0.950.79-0.27
YoY (latest quarter): total income +22.7% · net profit
Balance sheet & cash flow · as of Mar 2026
Moderate debt
Total assets
₹1,186 cr
Shareholder equity
₹635 cr
parent shareholders
Total debt
₹383 cr
Cash
₹23 cr
Cash flow · H1 FY26
Operating
₹44 cr
Investing
₹-78 cr
Financing
₹32 cr
Peer comparison
Medical Equipment & Supplies · by market value
CompanyPriceMarket capP/E
Poly Medicure Limited₹1,713₹17,360 cr50.4
Molbio Diagnostics Limited₹1,285₹14,493 cr61.7
Fischer Medical Ventures Limited₹33₹2,180 cr138.8
Tarsons Products Limitedthis company₹308₹1,638 cr
Laxmi Dental Limited₹198₹1,089 cr26.5
Fabtech Technologies Limited₹147₹653 cr38.7
Nureca Limited₹332₹317 cr25.9
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
trailing 12 months
Dividend / share (TTM)
Last dividend
₹2
ex 20 Sep 2024
ActionDetailEx-date
Dividend₹2 / share20 Sep 2024
Who owns it · 2026-06-30
No pledge
Promoter
47.3%
FII / Foreign
0.2%
DII / Domestic
0.1%
Retail / others
52.4%
Smart-money activity
Bulk / block deals
BoughtNK SECURITIES RESEARCH PRIVATE LIMITED · NSE3.74 L @ ₹350.8714 Aug 26
SoldNK SECURITIES RESEARCH PRIVATE LIMITED · NSE3.74 L @ ₹351.1814 Aug 26
BoughtMICROCURVES TRADING PRIVATE LIMITED · NSE2.85 L @ ₹356.7514 Aug 26
Stake changes
SoldMitsubishi UFJ Financial Group (MUFG)→ 1.43% · 20.50 L25 Nov 25
SoldMitsubishi UFJ Financial Group (MUFG)→ 5.28% · 10.93 L12 Nov 25
BoughtMitsubishi UFJ Financial Group (MUFG) alongwith PAC→ 7.33% · 10.67 L12 Jun 24
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 22 Sep 2025
See the official result
1
TO RECEIVE, CONSIDER AND ADOPT THE AUDITED STANDALONE FINANCIAL STATEMENT OF THE COMPANY FOR THE FINANCIAL YEAR ENDED 31ST MARCH, 2025 TOGETHER WITH THE REPORTS OF THE BOARD OF DIRECTORS AND AUDITORS THEREON
Backed by 100% of shareholders other than promotersneeded 50%
1.57 cr votes for, 3,540 against · 0% of mutual funds and other big investors said no
2
TO RECEIVE, CONSIDER AND ADOPT THE AUDITED CONSOLIDATED FINANCIAL STATEMENT OF THE COMPANY FOR THE FINANCIAL YEAR ENDED 31ST MARCH, 2025 AND THE REPORT OF AUDITORS THEREON
Backed by 100% of shareholders other than promotersneeded 50%
1.57 cr votes for, 3,540 against · 0% of mutual funds and other big investors said no
3
TO APPOINT A DIRECTOR IN PLACE OF MR. ARYAN SEHGAL (DIN: 06963013), WHO RETIRES BY ROTATION IN TERMS OF SECTION 152(6) OF THE COMPANIES ACT, 2013 AND BEING ELIGIBLE, OFFERS HIMSELF FOR RE-APPOINTMENT
Backed by 100% of shareholders other than promotersneeded 50%
1.57 cr votes for, 3,969 against · 0% of mutual funds and other big investors said no
4
TO APPROVE THE APPOINTMENT OF M/S. MANISHA SARAF & ASSOCIATES, PRACTICING COMPANY SECRETARIES AS SECRETARIAL AUDITORS OF THE COMPANY FOR A TERM OF FIVE (5) CONSECUTIVE YEARS FROM THE FINANCIAL YEAR 2025-26 TO FINANCIAL YEAR 2029-30 AND TO FIX THEIR REMUNERATION
Backed by 100% of shareholders other than promotersneeded 50%
1.57 cr votes for, 3,860 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 16 named members
owning 47.3% between them · as of 2026-06-30
SANJIVE SEHGAL26.98%
ARYAN SEHGAL20.30%
ANSHU KAPUR0.01%
ANU NAGRATH0.01%
JYOTI LIKHARI0.01%
NEETA ARORA0.01%
ARYAN SEHGAL AND OTHERS HUFno shares
INAYAT APARTMENTS PRIVATE LIMITEDno shares
Business done with them
FY2025 · 2 of the group
The company paid ₹8 cr to companies in the promoter group last year — about 2.1% of its ₹392 cr revenue.
Sanjive Sehgal
Other payments to them · Short-term employee benefits, Reimbursement of expense
also owns 26.98% of the company
₹4 cr
company paid
Aryan Sehgal
Other payments to them · Short-term employee benefits, Reimbursement of expense
also owns 20.30% of the company
₹4 cr
company paid

The company also transacted with 4 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.