Incorporated in 2012, Tirupati Forge Limited is an ISO 9001:2008 certified Company engaged in manufacturing of closed die forged products like auto component, bearings, gears, etc and forged flanges of mild steel, carbon steel, stainless steel, etc. based out at Hadamtala Industrial Estate, Rajkot, Gujarat. For the financial year 2015-16 and 2016-17, revenue from exports is 63.06% and 28.47% respectively while revenue from domestic sales is 36.94% and 71.53% respectively. The company complies with TUV Nord for Quality Assurance System besides ISO and strives to deliver quality products to the customers. It also has in house testing laboratory for testing each product at various stages. Strengths - - Pre-payment of loans to IOB - Quality of products - Products are used by automobile industry, refineries, oil pipelines, etc. - Experienced Promoters Weaknesses - - Revenue drop in last 2 years - Major Exports to USA Opportunity - - Commences exports to countries like Morocco, United Arab Emirates and Italy - Under utilization of capacity (Current capacity utilization - 44.01%) - Pursue international growth opportunities besides USA - Undertaking Government Contracts Threats - - Investigation by USA regulatory bodies against manufacturers and exporters of India for carbon steel flange to USA - Forex risk - Volatility in raw material price - Mild Steel, Alloy Steel, Carbon Steel Stainless Steel, etc - Dependent on few customers Disclaimer: SME investments are subject to illiquidity risk & information asymmetry risk. This is not a buy / sell advise. Please do your own due diligence before buying / selling this stock.

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