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← CockpitCompetitor Analysis › TONBO.NS Tonbo Imaging India LimitedOpen in the cockpit ↗

Tonbo Imaging India LimitedTONBO.NSCompetitor analysis, valuation and peers

India · INR·Capital Goods›Aerospace & Defense
Mkt cap
$895M
US dollars, full cap
$/day
$99.4M
20-day average traded
Fwd P/E
n/m
no positive forecast
ROIC−WACC
-5.7 pp
WACC 14.5%
Hurdle
n/a
no reverse DCF
Close · INR₹1,472
1D-3.8%
1W+12.9%
1Mn/a
3Mn/a
6Mn/a
YTDn/a
1Yn/a

What Tonbo Imaging India does

Employees: 339

Tonbo Imaging India at a glance

Size Tonbo Imaging India (TONBO.NS) is an India Industrials company (Aerospace & Defense) with a market value of $895M, the 628th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹1,472 on 6 Nov 2026.

Growth Revenue fell 22.7% over the last twelve months (peer median +13.6%); the operating margin is 20.7% (peer median 2.1%).

Valuation It trades at 23.5× enterprise value to sales against a peer median of 5.3× (2nd most expensive of 21).

Capital Return on invested capital runs 5.7 points below its cost of capital (14.5% WACC).

Tonbo Imaging India financials

Reported figures in INR; fiscal year ends 2026-03-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenuen/a₹3.63B₹4.69B₹4.28B₹968M
Revenue growth—-23%+10%+342%—
Gross profitn/a₹959M₹1.80B₹1.69B₹257M
EBITDAn/a₹1.06B₹1.41B₹1.13B₹103M
Net incomen/a₹509M₹728M₹685M₹11.8M
Free cash flown/a-₹657M-₹1.68B₹674M₹172M
Capital expendituren/a₹393M₹288M₹1.94B₹121M
Total debtn/a₹1.25B₹881M₹1.05B₹445M

Quarterly statements and history in the cockpit →

Tonbo Imaging India competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Fundamentals: revenue growth against valuation

0%+50%+100%+150%0×10×20×PNG300581300722688631YSSAVON002970DROV1NCNPK688510PARAS300900EOS3006960030097224300397TONBO.NSRevenue growth (TTM) →EV / Sales →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Tonbo Imaging India is the large dot.

Tonbo Imaging India competitors and peer comparison

How Tonbo Imaging India compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Tonbo Imaging India against its 20 peers (data as of 6 Nov 2026)
MeasureTONBO.NSPeer medianRank in peer set
Revenue growth (TTM)-22.7%+13.6%2nd lowest of 21
Operating margin20.7%2.1%2nd highest of 21
EV / Sales23.5×5.3×2nd most expensive of 21
ROIC minus cost of capital-5.7 pp-6.6 pp10th highest of 20
EV / EBITDA80.3×20.6×2nd most expensive of 9
Net debt / EBITDA0.8×0.1×4th most indebted of 10

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginEV / SalesReq gDelivered g
Tonbo Imaging India TONBO.NSIndia$895Mn/a-23%21%23.5×n/an/a
Kraken Robotics PNG.VCanada$896M-53%+21%-2%7.4×n/an/a
Xi'an ChenXi Aviation Technology 300581.SZChina$906M-13%0%-78%49.0×n/an/a
Jiangxi Xinyu Guoke Technology 300722.SZChina$870M-26%+14%14%12.9×38.8%+12.9%
Nanjing LES Information Technology 688631.SSChina$863M-38%-31%-5%5.1×36.9%-1.1%
York Space Systems YSSUnited States$860M-82%+52%-15%1.3×n/an/a
Avon Technologies AVON.LUnited Kingdom$933M+45%+5%12%3.1×16.3%+7.4%
Streamax Technology 002970.SZChina$951M-51%+3%11%2.3×n/an/a
DroneShield DRO.AXAustralia$818M-60%+153%-14%3.8×n/an/a
Vincorion V1NC.DEGermany$982M-5%+18%12%4.1×38.0%+47.5%
National Presto Industries NPKUnited States$1.02B0%+21%9%1.9×8.3%+7.4%
Cohort CHRT.LUnited Kingdom$774M+9%+13%11%1.9×n/an/a
Wuxi Hyatech 688510.SSChina$768M-41%-4%12%7.5×41.9%+18.2%
Paras Defence & Space Technologies PARAS.NSIndia$1.06B+43%+42%23%17.7×n/an/a
Guanglian Aviation Industry 300900.SZChina$1.07B-51%+1%-10%8.6×n/an/a
Electro Optic Systems EOS.AXAustralia$1.08B-18%+225%-7%5.5×n/an/a
Shandong Senter Electronic 001388.SZChina$742M-16%+5%6%4.4×21.1%+17.7%
Chengdu ALD Aviation Manufacturing 300696.SZChina$733M-58%-18%-12%10.8×n/an/a
Shaanxi Zhongtian Rocket Technology 003009.SZChina$1.10B-26%+42%-6%6.7×n/an/a
Shinmaywa Industries,Ltd 7224.TJapan$721M-32%+12%6%0.5×-5.6%+6.4%
Xi'An Tian He Defense Technology 300397.SZChina$713M-28%+69%-5%8.0×n/an/a

Questions

Which companies are Tonbo Imaging India's closest peers?
The cockpit's peer set: Kraken Robotics (PNG.V), Xi'an ChenXi Aviation Technology (300581.SZ), Jiangxi Xinyu Guoke Technology (300722.SZ), Nanjing LES Information Technology (688631.SS), York Space Systems (YSS), Avon Technologies (AVON.L), Streamax Technology (002970.SZ), DroneShield (DRO.AX).
Is Tonbo Imaging India expensive compared with its peers?
On ev / sales it trades at 23.5× against a peer median of 5.3×, 2nd most expensive of 21 in its peer set.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.