📌 At a Glance
Teerth Gopicon Ltd reported a ₹12.84 Cr profit in FY25 — a modest 11% YoY growth. But here’s the kicker: EPS has crashed by 41% despite rising profits. Meanwhile, Twitter is ablaze with sketchy promotions by “multibagger whisperers” who haven’t picked a fundamentally sound stock since Demonetisation.
So, is Teerth building bridges… or just burning investor trust?
🧱 About Teerth Gopicon
Based out of Indore, Teerth Gopicon claims to be a “government-approved contractor” — a title held by 3,84,239 other companies in India. The firm is involved in infrastructure development — civil construction, roads, public works… and allegedly, public sentiment manipulation.
Their biggest achievement so far?
Being tweeted about more than any other SME infra stock by handles with anime DP + “swing trader” bio.
🧮 FY25 Financials Breakdown
Let’s break down the numbers and see if the concrete is mixed right — or if it’s hollow inside.
| 🧾 Particulars | FY25 (₹ Cr) | FY24 (₹ Cr) | YoY Change |
|---|---|---|---|
| Revenue from Operations | ₹118.27 | ₹104.92 | 🔼 +12.7% |
| Total Income | ₹118.55 | ₹105.10 | 🔼 +12.8% |
| Total Expenses | ₹100.60 | ₹89.05 | 🔼 +13% |
| EBITDA (Est.) | ₹17.67 | ₹16.05 | 🔼 +10% |
| Net Profit (PAT) | ₹12.84 | ₹11.56 | 🔼 +11.1% |
| EPS (Basic) | ₹10.85 | ₹18.49 | 🔻 -41.3% |
🎯 Red Flag Alert: EPS has tanked by 41% despite profit growing. Likely due to dilution — either via rights issue, preferential allotment, or conversion of warrants. Or just… IPO-era dilution.
💸 Half-Yearly Momentum: Pump & Cement
| Period | PAT (₹ Cr) | EPS | Revenue (₹ Cr) |
|---|---|---|---|
| H2 FY25 | ₹3.32 Cr | ₹2.81 | ₹50.27 Cr |
| H1 FY25 | ₹9.52 Cr | ₹8.16 | ₹68.00 Cr |
What’s the story here?
- H1 FY25 was massive. PAT ₹9.5 Cr on ₹68 Cr revenue.
- But H2 FY25? Just ₹3.3 Cr on ₹50 Cr revenue.
⬇️ That’s a 65% drop in profit in H2. Almost like the company used its strongest half to window-dress its IPO, and then… forgot to build anything new.
📢 Twitter Pumpers Assemble
Let’s be honest. Teerth’s rise from ₹90 to ₹235 didn’t come from “strong earnings visibility” or “infra boom” or “order book strength”.
It came from:
- Telegram channels named “💰 Jackpot SME 💥”
- Twitter handles that write: “Chart ready. 500 coming. Not a buy reco 🧿”
- WhatsApp forwards that include: “Operator active. Circuit locha possible.”
Investor Tip: When a stock is promoted more than its projects, expect construction delays. In your portfolio.
🏗️ What’s Actually Driving the Business?
- Cost of Material Consumed: ₹83.64 Cr in FY25 — 70% of revenue.
- Employee Cost: ₹4.86 Cr — bare minimum.
- Depreciation: ₹6.51 L — either they don’t use machines, or they depreciate like Nokia 1100.
🧾 Other Observations:
- No exceptional or extraordinary income (so no land sale magic).
- No major tax tricks — which is good.
- Zero debt red flags in this sheet (finance cost: ₹2.43 Cr).
🧮 Balance Sheet Signals?
We’d need the full balance sheet to audit for:
- Receivables bloat (common in infra SMEs),
- Unbilled revenue (aka imaginary income),
- Order book narrative without public tender data.
But based on expenses, this is a low-margin infra contractor, not a tech disruptor. Keep expectations real.
🧠 EduInvesting Take
- If you bought this stock below ₹100, congrats — you rode the IPO wave.
- If you’re chasing at ₹235 thinking “infra stock hai, aur chalega”, you might end up as the last man holding bricks.
📉 The company is profitable, yes. But not fast-growing, not margin-rich, and definitely not worth the hype it’s getting on FinTwit.
🚨 Red Flags & Risks
- 📉 EPS collapse despite profit rise — dilution alert.
- 📢 Unnatural Twitter/Telegram buzz — pump suspects.
- 💡 Drop in H2 performance — sustainability questionable.
- 🤫 No capex details or order book updates — business visibility is foggy.
- 📊 Micro-cap SME volatility — circuit filters can trap you.
🧮 Forward Valuation (Hypothetical)
Let’s try to be generous and project FY26:
- Assume 15% PAT growth → ~₹14.75 Cr PAT.
- Assuming 1.2 Cr shares (post-dilution est.): EPS ~₹12.30
- Assign a fair P/E of 15 (infra avg): FV = ₹184.50
📉 At CMP ₹235, the stock is trading at ~19x forward earnings — not cheap.
🧾 Verdict
“Not every cement contractor is a multibagger. Some just build roads to your financial graveyard.”
If you’re in this stock, stay sharp. Not all gains are grounded in reality — some are just Twitter echoes and operator echosystems.
Tags: Teerth Gopicon, FY25 Results, SME Stocks, Infra Stocks India, Twitter Pump and Dump, Multibagger Trap, EPS Crash, Infra IPO, EduInvesting
Author: Prashant Marathe
Date: 30 May 2025
