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Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

Valuation
Financials (FY2024)
Source: CRISILInvestment Thesis
Jalgaon-based PVC/HDPE pipe and micro-irrigation manufacturer (est. 1990) listed on BSE (532948) and NSE (TULSI). Product range: rigid PVC pipes (SWR, plumbing, ASTM), HDPE/LLDPE pipes, drip/sprinkler irrigation systems. Revenue ~₹37.8 Cr FY2024 with net loss −₹7.81 Cr; losses continued into FY2025 (Q1: −₹2 Cr; Q2: −₹3.38 Cr). Revenue Q1 FY25 fell 43.9% YoY. Debtor days ~195 — severe collection issues. Market cap only ~₹2.72 Cr; near penny stock. Promoter holding just 25.88% with shares pledged. Financially distressed — avoid.
Pros
Cons
Business Segments
PVC pipes and fittings — rigid PVC (SWR, casing/screen, plumbing, ASTM-standard); Jalgaon, Maharashtra
HDPE and LLDPE pipes
Micro irrigation systems — drip and sprinkler irrigation
PVC fabricated fittings
Revenue Model
Sale of manufactured plastic extrusion products to industrial, agricultural, and commercial buyers
Detailed Analysis
Industry Tailwinds
Growing demand for plastic pipes in agricultural irrigation (Jal Jeevan Mission)
Rising construction activity driving demand for polymer profiles and fittings
Government push for plastic recycling creating circular economy opportunities
Industry Headwinds
Volatile polymer raw material prices (linked to crude oil)
Recent Developments
Comparable Companies
SUPREMEIND · ~25,000 Cr
PE: ~40xx
FINPIPE · ~10,000 Cr
Frequently Asked Questions
About Tulsi Extrusions
Tulsi Extrusions Limited is a Mumbai-based manufacturer of plastic extrusion products, incorporated in 1990. The company produces polymer-based extruded products used across packaging, agriculture, construction, and industrial applications. Listed on BSE, the company has been a part of India's plastics manufacturing ecosystem for over three decades. Plastic extrusion is a high-volume manufacturing process where raw polymer material is melted and formed into continuous shapes — pipes, tubes, sheets, films, and profiles. Tulsi Extrusions serves various end markets with its extruded product portfolio, operating in a competitive but essential segment of India's manufacturing base. The company's BSE listing with ISIN INE892C01011 provides regulatory oversight, though trading volumes may be limited due to the company's small to mid-size scale of operations.
Key Milestones
1990 (incorporated) — established as Tulsi Extrusions Private Limited in Jalgaon MIDC, Maharashtra
5 June 1995 — Converted to Public Limited Company
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You enquire
Takes 2 minutes
We source & quote
Typically within 1 business day
You accept the allocation
Quote valid for 3 days
You transfer the funds
Pay within 2 days of accepting
Shares reach your demat
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Unlisted shares are illiquid and carry higher risk. Pricing is indicative, not live, and these are private off-market transactions with no exchange settlement guarantee. Read the full risk disclosure.
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Regulatory pressure on single-use plastics
Competition from large organized players
Limited publicly available financial information
Source: Media Reports / Public Records
Small-cap BSE listing with potentially low trading volumes
Source: AlphaHub Research
Company reported a net loss of ₹7.81 Cr (FY2024) — may signal structural profitability challenges
Source: Financial data
Share price of ₹0.02 is indicative of extreme financial distress; the company may be non-operational or in the process of winding up
Plastics extrusion is a commoditized, highly competitive sector with thin margins; smaller players struggle to compete against large organized manufacturers
India's increasing regulations on single-use plastics and environmental compliance requirements could add cost burdens to smaller plastics manufacturers
PE: ~20xx
FY1996–97 — Expanded installed capacity to 3,000 MT per annum
FY2006–07 — Added ASTM plumbing pipes; acquired Gopal Extrusions and Narvada Industries (both Jalgaon MIDC) for LLDPE, HDPE and PVC fittings capacity
Listed on BSE (532948) and NSE (TULSI)
FY2024–25 — Persistent losses; revenue and market cap in severe decline