Tega Industries Moat Analysis: Score & Risks
Tega Industries Ltd.
A first-pass moat teardown of Tega Industries Ltd., built from single-pass filing evidence. Free note — provisional, and the full two-pass deep dive may revise it.
First-pass narrow read — primary edge in Cost Advantage. Provisional, single-pass evidence.
Tega Industries Ltd. scores 5.15 on MoatSCORE 6.0 — a narrow moat in Capital Goods. This is a first-pass note: the dimensional read and the filing receipts below come from a single GFIP evidence pass, not the full two-pass deep corpus behind our flagship deep dives. Provisional — published free while the deep version is queued.
Seven dimensions of moat
Ordered by contribution. Each dimension carries a verified filing quote, graded [M] mechanism or [O] outcome.
“Backward integration from resource manufacture to equipment fabrication used by Tega”
“Your Company's products undergo stringent selection and approval procedures before being sold to mining and mineral processing companies.”
“McNally's established after-sales service strengthens our ability to provide exceptional customer support. This acquisition ensures a readily available supply of spare parts for all our products.”
“Screening Panel with Replaceable Functional Section enabling separation of polymer and reinforcement components (Patent Applied).”
“this year, it is slightly lower because of the revenue has not been picked up in the consumables segment”
“EBITDA margins of 18%. The margins were marginally lower due to a one-time acquisition-related expense and charges arising from the implementation of the new labor code regulations”
D8 rating: ADEQUATE. Not part of the moat score — it governs the cost of equity and the fade window. First-pass; not yet deep-reviewed.
The barrier gate — first-pass
Effective barrier 6 — at or above 6, consistent with a narrow read. First-pass estimate.
Deep two-pass review. This draft rests on a single GFIP evidence pass; the full 10-year AR + concall corpus may move the read.
The barrier gate. A firmer replication or bypass estimate is the most likely thing to shift the band.
Adverse events. Any governance, regulatory or funding shock captured in D8 could re-rate the fade window.
Where this note fits. This company is one of 509 Indian companies we have scored for moat durability — 370 narrow, 126 narrow-trending-wide, none wide. Every score, dimension by dimension, is free in the Moat Screener.
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