TBI Corn
- Market cap
- ₹ 124 Cr.
- P/E
- 6.7x
- P/B
- 1.09x
- 52-week range
- 55 – 98.45
- ROE
- 17%
- ROCE
- 18%
- Dividend yield
- 0%
- Debt / equity
- 0.59
- Sector
- Agricultural Food & other Products
- Industry
- Other Agricultural Products
- Listed on
- NSE SME
About
TBI Corn Limited is an India-based manufacturer in the corn grits industry. It is engaged in manufacturing, processing, trading and dealing in agro products, particularly maize products, as well as various processed foods, animal foods, health foods, protein foods, bakery and confectionery items. The purchase and sale of goods and services is integral to its business operations. Its products include corn grits, corn germ, broken maize, corn meal, corn bran, corn flour, processed Indian yellow maize, and raw corn flakes. The Company supplies its products to the breakfast cereal, snack, brewery, confectionery, bakery, and biscuit industries, both in India and the international market. The Company sources raw maize from select farms across India, with access to the cultivating regions in Northern Karnataka and Maharashtra. Its manufacturing plant is located in Miraj, in the Sangli district of Maharashtra, India. Its plant has the capacity to produce 4500 tons of maize products per month.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Other Agricultural Products: 90 companies →TBI Corn against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)6.7 against a typical 15.2: cheaper than most peers (1st = cheapest).12th of 88
- Sales growth+89.8% against a typical +19.1% from a year earlier.8th of 68
- Profit growth+166.7% against a typical +5.4% from a year earlier.8th of 59
- Share price, 3 months+18.6% against a typical −1.7%.12th of 81
- Size₹ 124.4 Cr. market value against a typical ₹ 63 Cr. (1st = largest).30th of 85
Latest announcements
Exchange filings and their impact on the company.
- Board approves plan for Dubai subsidiary to pursue overseas corn business; no investment size disclosed yet.
On October 8, 2026, TBI Corn's board approved a proposal to incorporate a subsidiary in Dubai, UAE to explore international opportunities in the corn and maize processing industry. No details on the subsidiary's name, capital, or investment amount were disclosed, with the company saying these are yet to be finalised. This is an early-stage expansion intent with no near-term financial impact, but it signals overseas growth ambition.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Moderate safety, with caution
Rated BBB- by CRISIL- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CRISIL | Crisil BBB- | Stable | 5 Sep 2025 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 5 Sep 2025 | Reaffirmed | Crisil BBB- | — | CRISIL | ₹ 77 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 29 May 2026 | Financial Results | To consider and approve the financial results for the period ended March 31, 2026 |
| 13 Nov 2025 | Board Meeting Intimation | TBI CORN LIMITED has informed the Exchange about Board Meeting to be held on 13-Nov-2025 to inter-alia consider and approve the Unaudited Financial results of the Company for the Half Yearly ended September 2025 . |
| 27 Aug 2025 | Other business matters | To consider other business matters |
| 27 May 2025 | Financial Results | To consider and approve the financial results for the period ended March 31, 2025 |
| 30 Oct 2024 | Financial Results | To consider and approve the unaudited financial results (Standalone & Consolidated) for the Half Year ended on 30th September, 2024 |
| 27 Jun 2024 | Financial Results/Other business matters | Intimation of Board meeting To consider and approve the financial results for the period ended March 31, 2024 and other business matters |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Sales | 75 | 70 | 88 | 94 | 118 | 137 | 167 |
| Expenses | 69 | 60 | 81 | 81 | 107 | 118 | 150 |
| Operating Profit | 6 | 11 | 7 | 13 | 11 | 18 | 16 |
| OPM % | 8% | 15% | 8% | 14% | 9% | 13% | 10% |
| Other Income | 1 | 1 | 0 | 1 | 1 | 1 | 0 |
| Interest | 2 | 2 | 3 | 3 | 3 | 3 | 5 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 2 | 1 |
| Profit before tax | 4 | 9 | 5 | 10 | 8 | 14 | 11 |
| Tax % | 26% | 25% | 27% | 26% | 25% | 25% | 25% |
| Net Profit | 3 | 7 | 3 | 8 | 6 | 10 | 8 |
| EPS in Rs | 5,892.86 | 4.99 | 2.56 | 4.14 | 3.37 | 5.64 | 4.47 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- —
- 5 Years
- —
- 3 Years
- 38%
- TTM
- 43%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- 42%
- TTM
- 35%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- —
- TTM
- —
- 10 Years
- —
- 5 Years
- —
- 3 Years
- 20%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| TBI Corn | ₹ 72.75 | ₹ 124 Cr. | 6.7x | 1.1x | 17% | — |
| Nestle India | ₹ 1,173.45 | ₹ 2,26,278 Cr. | 80.4x | 53.4x | 76.3% | 15.1% |
| Britannia Industries | ₹ 4,547.80 | ₹ 1,09,542 Cr. | 51.5x | 25.5x | 53.6% | 13.3% |
| Tata Consumer Products | ₹ 960.00 | ₹ 95,010 Cr. | 67.4x | 4.9x | 7.4% | 8.1% |
| Godrej Industries | ₹ 918.00 | ₹ 30,884 Cr. | 34.9x | 4x | 11.6% | 10.9% |
| Patanjali Foods | ₹ 351.00 | ₹ 38,193 Cr. | 18.9x | 2.8x | 14.8% | 4.5% |
Management
- Yogesh Laxman Rajhans
- Managing Director, Executive Chairman of the Board
- Ninad Anand Yedurkar
- Chief Financial Officer, Whole Time Director
- Ishani Dhupar
- Compliance Officer, Company Secretary
Prices are delayed and for information only. Nothing on this page is investment advice.