THALL Thal Limited

Thal Limited (THALL) financial ratios

Thal Limited earned a net margin of 25.6% in FY2026 against a five-year average of 22.5% (Automobile Parts & Accessories median 3.6%). Return on equity was 18.5%, compared with a sector median of 11.4%. The current ratio stood at 3.01× and debt was 7.4% of equity. Cash took about 137 days to cycle through receivables, inventory and payables.

FY2026 vs the Automobile Parts & Accessories median

Gross margin: 15.8%; Sector median 15.6%
Operating margin: 9.3%; Sector median 9.3%
Net margin: 25.6%; Sector median 3.6%
Return on equity (ROE): 18.5%; Sector median 11.4%
Return on assets (ROA): 13.1%; Sector median 3.9%
Current ratio: 3.01×; Sector median 1.36×
Debt to equity: 7.4%; Sector median 48.2%
Asset turnover: 0.51×; Sector median 1.09×
Dividend payout ratio: 16.3%; Sector median 17.1%

Median of the 10 companies in the sector with the figure for their latest fiscal year.

THALL financial ratios (annual) (Rs mn)
Rs mn	FY2026 Jul 2025 – Jun 2026	FY2025 Jul 2024 – Jun 2025	FY2024 Jul 2023 – Jun 2024	FY2023 Jul 2022 – Jun 2023	FY2022 Jul 2021 – Jun 2022	FY2021 Jul 2020 – Jun 2021	FY2020 Jul 2019 – Jun 2020	FY2019 Jul 2018 – Jun 2019	FY2018 Jul 2017 – Jun 2018	FY2017 Jul 2016 – Jun 2017	FY2016 Jul 2015 – Jun 2016	FY2015 Jul 2014 – Jun 2015	FY2014 Jul 2013 – Jun 2014	FY2013 Jul 2012 – Jun 2013	FY2012 * Jul 2011 – Jun 2012	FY2011 Jul 2010 – Jun 2011	FY2010 Jul 2009 – Jun 2010	FY2009 Jul 2008 – Jun 2009	FY2008 Jul 2007 – Jun 2008	FY2007 Jul 2006 – Jun 2007
Profitability
Gross margin	15.8%	9.5%	9.6%	12.2%	16.3%	15.9%	11.4%	17.3%	18.2%	21.9%	21.8%	18.2%	14.9%	17.5%	17.3%	15.6%	13.4%	12.4%	15.6%	19.2%
EBITDA margin	12.8%	14.1%	23.1%	7.3%	12.1%	11.9%	5.2%	11.6%	11.6%	26.0%	14.2%	10.4%	24.4%	26.1%	15.7%	13.6%	10.0%	6.7%	11.6%	16.1%
Operating margin	9.3%	9.6%	18.8%	4.5%	9.9%	9.5%	1.8%	9.2%	10.4%	25.1%	11.7%	9.4%	23.3%	25.1%	13.7%	10.7%	8.0%	4.4%	10.3%	15.1%
Pre-tax margin	12.3%	14.5%	13.0%	12.8%	16.2%	17.7%	17.3%	19.8%	20.5%	35.1%	18.8%	18.4%	16.2%	17.9%	13.2%	9.6%	7.2%	2.8%	11.0%	14.9%
Net margin	25.6%	24.5%	31.9%	14.7%	15.9%	19.9%	18.8%	16.8%	17.5%	30.3%	17.3%	14.6%	10.5%	12.1%	11.1%	7.6%	2.0%	5.5%	4.8%	12.8%
Effective tax rate	78.7%	81.2%	90.4%	57.2%	39.2%	35.7%	36.8%	35.3%	37.2%	27.3%	32.5%	34.3%	30.9%	27.3%	28.4%	37.6%	86.7%	(82.2%)	69.0%	33.7%
Returns
Return on equity (ROE)	18.5%	14.8%	20.1%	11.9%	17.9%	19.7%	12.0%	16.5%	16.2%	30.9%	19.0%	21.0%	11.7%	15.6%	22.0%	16.1%	12.1%	17.2%	11.3%	27.5%
Return on assets (ROA)	13.1%	10.6%	14.0%	8.3%	12.7%	14.4%	9.2%	12.5%	12.3%	22.0%	13.5%	14.0%	8.0%	10.4%	12.5%	9.4%	4.1%	9.3%	6.4%	22.4%
Return on invested capital (ROIC)	15.2%	11.9%	15.5%	9.6%	14.2%	15.3%	9.4%	12.7%	12.2%	22.7%	13.2%	14.1%	7.7%	10.0%	24.1%	13.5%	8.7%	16.9%	8.6%	25.7%
Liquidity
Current ratio	3.01×	2.91×	3.25×	2.91×	2.97×	3.67×	4.36×	5.29×	5.64×	6.70×	6.38×	5.25×	4.04×	4.12×	2.53×	1.66×	1.52×	1.59×	1.41×	4.74×
Quick ratio	2.32×	2.01×	2.34×	1.86×	1.76×	2.34×	2.90×	3.53×	4.21×	5.39×	4.75×	3.86×	2.41×	2.61×	1.28×	0.67×	0.66×	0.58×	0.43×	2.36×
Leverage
Debt to equity	7.4%	9.7%	12.3%	12.7%	10.5%	5.7%	5.6%	0.9%	0.2%	0.0%	0.1%	0.1%	0.4%	0.0%	5.8%	24.3%	39.4%	27.7%	26.8%	5.8%
Debt to capital	6.9%	8.8%	10.9%	11.3%	9.5%	5.4%	5.3%	0.9%	0.2%	0.0%	0.1%	0.1%	0.4%	0.0%	5.5%	19.5%	28.3%	21.7%	21.2%	5.5%
Debt to assets	5.5%	7.1%	9.0%	9.5%	8.0%	4.6%	4.7%	0.8%	0.2%	0.0%	0.1%	0.1%	0.4%	0.0%	4.9%	14.8%	22.1%	17.9%	17.0%	4.8%
Assets to equity	1.35×	1.36×	1.35×	1.33×	1.28×	1.20×	1.15×	1.12×	1.11×	1.11×	1.11×	1.13×	1.14×	1.16×	1.33×	1.71×	1.66×	1.56×	1.43×	1.23×
Efficiency
Asset turnover	0.51×	0.43×	0.44×	0.57×	0.80×	0.72×	0.49×	0.74×	0.70×	0.72×	0.78×	0.96×	0.76×	0.86×	1.12×	1.25×	2.03×	1.70×	1.33×	1.75×
Receivable days days	61	75	75	61	46	45	62	37	28	33	38	29	34	28	26	35	19	18	29	34
Inventory days days	101	118	132	135	106	105	144	95	80	77	77	72	94	86	92	103	57	71	107	106
Payable days days	25	48	55	29	20	16	17	12	10	6	9	12	16	16	26	37	19	23	27	11
Cash conversion cycle days	137	146	152	167	132	134	189	119	98	103	106	89	113	99	93	102	57	65	109	129
Dividends
Dividend payout ratio	16.3%	11.2%	8.1%	7.4%	15.3%	11.2%	10.6%	18.1%	34.5%	31.1%	31.5%	41.0%	79.9%	51.1%	28.0%	14.3%	13.7%	0.0%	0.0%	11.2%
Earnings retention rate	0.84×	0.89×	0.92×	0.93×	0.85×	0.89×	0.89×	0.82×	0.66×	0.69×	0.68×	0.59×	0.20×	0.49×	0.72×	0.86×	0.86×	1.00×	1.00×	0.89×

Ratios as reported for each fiscal year; returns are on average equity / assets. Debt ratios are percentages; turnover in times; working-capital measures in days.

THALL: frequently asked questions

What is THALL's EPS?

Thal Limited reported basic earnings per share of Rs 129.04 for FY2026 (Jul 2025 – Jun 2026).

What is THALL's P/E ratio?

At the closing price of Rs 505.71 on 16 Oct 2026, THALL trades at a P/E of 3.9× based on EPS of Rs 129.04 (FY2026).

Does THALL pay dividends?

Yes. Thal Limited declared a dividend of Rs 30.00 per share for FY2026. It has paid a dividend in each of the last 18 years. At Rs 505.71 that is a dividend yield of 5.9%.

What was THALL's revenue and profit in FY2026?

Thal Limited reported revenue of Rs 44.3 bn and profit attributable to shareholders of Rs 10.5 bn for FY2026 (Jul 2025 – Jun 2026).

What is THALL's book value per share?

Thal Limited's book value per share was Rs 752.93 at the end of FY2026. The shares trade at 0.67× book value.

Information only, not investment advice.