Tirupati Forge Limited has officially announced the successful outcome of its Board Meeting held on April 27, 2026, marking a significant milestone in its capital restructuring. The Board approved the allotment of 25,60,000 equity shares of face value ₹2 each following the conversion of an equivalent number of convertible warrants. These shares were issued at a price of ₹32 per share, which includes a premium of ₹30 per share. This transaction is part of a larger preferential issue originally initiated in January 2025, involving a total of 1,17,60,000 warrants.

Following the board’s approval, the company received the remaining 75% consideration amount, totaling ₹6.14 Crores, from two allottees within the Promoter and Non-Promoter groups. This follows the earlier conversion of 83,50,000 warrants by six other allottees, who contributed ₹20.04 Crores. The newly allotted equity shares are designated to rank pari passu with the company’s existing shares, ensuring they carry identical dividend and voting rights. To date, out of the initial 1.17 Crore warrants, a total of 1.09 Crore have been converted into equity, leaving only 8,50,000 warrants pending conversion.

Tirupati Forge Limited is a prominent manufacturer based in Rajkot, Gujarat, specializing in high-quality closed die forged products. Its diverse product portfolio includes auto components, bearings, gears, and forged flanges crafted from mild steel, carbon steel, and stainless steel. In a major operational update during 2025, the company successfully commissioned a 4.8 MW solar power plant for 100% captive consumption. This green energy initiative is projected to save the company approximately ₹2.5 Crores annually in electricity costs, with potential future savings reaching ₹5 Crores as more sites are integrated.

For the quarter ended December 31, 2025, Tirupati Forge reported a robust financial performance with revenue jumping 85.61% year-on-year to ₹49.26 Crores. Net profit for the same period saw a significant rise of 54.2%, reaching ₹2.02 Crores compared to ₹1.31 Crores in the previous year’s corresponding quarter. This performance reflected strong sequential growth as well, with revenue increasing by 20.94% and net profit rising by 50.75% from the September 2025 quarter. Notable individual shareholders within the promoter group include Bhargavi Manojbhai Thummar and Chetna Mukeshbhai Thumar, who held 14.71% and 13.36% stakes respectively as of late 2025.