Tirupati Forge

** Shares of India's Tirupati Forge TIRF.NS hit 5% upper circuit at 71.06 rupees

** Co receives industrial licence under India's Arms Act to manufacture empty artillery shells

** Move marks Tirupati Forge's entry into defence manufacturing, with co targeting both domestic and international customers

** Co says initial production capacity will be 150,000 units annually, with plans to scale up output

** Co plans to start pilot production in December 2026 before moving to full-scale commercial manufacturing; also plans to expand capacity

** YTD stock up 109.37%

(Reporting by Surbhi Misra in Bengaluru)

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Tirupati Forge received an industrial license under the Indian Arms Act, 1959, for manufacture of empty artillery shells in calibres including 105mm, 120mm, 122mm, 125mm, 130mm, 152mm and 155mm. The license covered 155mm variants including HE M107, HE L15A1, extended-range full-bore, base-bleed and boat-tail types, with initial capacity of 150,000 units a year and pilot runs planned for December 2026. The company's shell-body plant with capacity of 150,000 units a year was commissioned in March 2026. Forged flanges accounted for about two-thirds of revenue, while exports accounted for about 65% of sales to the United States, Canada, Europe and Africa. Total income was Rs493 million in the December 2025 quarter, with solar power savings of Rs7.5 million in the quarter.

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Tirupati Forge allotted 37 lakh fully convertible warrants to three promoters and promoter-group members at ₹58 each, valuing the preferential issue at ₹21.46 crore. It received ₹5.365 crore, representing 25% of the issue price, and the warrants could be converted into one equity share each within 18 months of allotment. The allottees were Chetna Mukeshbhai Thumar, Bhargvi Manojbhai Thummar and managing director Hiteshkumar Godhanbhai Thummar. Forged flanges accounted for about 66% of Tirupati Forge’s revenue, while exports made up roughly 65%. The company’s defence shell-body plant was commissioned in March 2026 with annual capacity of 150,000 units.

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Tirupati Forge allotted 37 lakh fully convertible equity warrants to its promoters and promoter group at ₹58 each, valuing the issue at ₹21.46 crore. The company received ₹5.365 crore upfront, representing 25% of the issue price, and the warrants carried an 18-month exercise period. The allottees were Chetna Mukeshbhai Thumar, Bhargvi Manojbhai Thummar and managing director Hiteshkumar Godhanbhai Thummar. The company derived about 65% of revenue from exports, while oil and gas accounted for roughly 66% of its end markets.

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Oct 7 (Reuters) - Tirupati Forge Ltd TIRF.NS:

• TIRUPATI FORGE LTD - SIGNS AGREEMENT WITH PROMOTER FOR LAND PURCHASE

• TIRUPATI FORGE LTD - SALE CONSIDERATION AGREED AT 57.5 MILLION RUPEES

Source text: ID:nNSE8MV2G2

Further company coverage: TIRF.NS

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Oct 18 (Reuters) - Tirupati Forge Ltd TIRF.NS:

• TIRUPATI FORGE LTD - TO ISSUE UPTO 14.7 MILLION SHARES

• TIRUPATI FORGE LTD - TO ISSUE UPTO 12.3 MILLION CONVERTIBLE EQUITY WARRANTS

• TIRUPATI FORGE LTD - TO ISSUE CONVERTIBLE EQUITY WARRANTS AT 32 RUPEES EACH

• TIRUPATI FORGE LTD - TO ISSUE SHARES AT 32 RUPEES EACH

Source text for Eikon: ID:nNSE7G7l95

Further company coverage: TIRF.NS

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July 30 (Reuters) - Tirupati Forge Ltd TIRF.NS:

• TIRUPATI FORGE - TO INSTALL SOLAR POWER PROJECT AT COST OF 150 MILLION RUPEES

• TIRUPATI FORGE - EXPECTED TO INCREASE ABOUT ADDITIONAL PAT OF 50 MILLION RUPEES FROM NEXT YEAR

Source text for Eikon: [ID:]

Further company coverage: TIRF.NS

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Nov 27 (Reuters) - Tirupati Forge Ltd TIRF.NS:

• RAISE CAPITAL UP TO 71 MILLION RUPEES THROUGH PREFERENTIAL ISSUE OF SHARES

Source text for Eikon: ID:nNSEc2rLTz

Further company coverage: TIRF.NS

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April 20 (Reuters) - Tirupati Forge Ltd TIRF.NS:

• RECEIVED APPROVAL FROM INDIAN COMAPNIES FOR SUPPLY OF FORGINGS AND MACHINED COMPONENTS

• WOULD CONTRIBUTE AN ADDITIONAL GROWTH RATE OF ABOUT 30% TO TURNOVER FROM THIS YEAR

• BALANCE EXPANDED CAPACITIES WOULD BE FULLY UTILIZED FROM THIS YEAR

Source text for Eikon: ID:nNSE2wWY6x

Further company coverage: TIRF.NS

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