India · Delayed Price · Currency is INR Tube Investments of India Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY26 saw strong revenue and profit growth, with robust domestic performance in engineering and metal forming, while exports remained challenged by tariffs. Investments continue in EV and new businesses, though break-even is delayed; interim dividend declared.
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Q2 FY26 saw revenue and profit growth across most segments, with strong performance in engineering, mobility, and EV businesses. Management expects continued demand post-GST cuts, is planning significant CapEx and investments, and maintains a robust market share in key areas.
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Q1 FY26 saw strong revenue growth and improved EBITDA, with robust performance in core and subsidiary businesses. EV segment faces margin and volume challenges, while export outlook is cautious due to global trade uncertainties. Capex is focused on core and growth businesses.
Fiscal Year 2025
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Revenue and EBITDA remained stable year-over-year, with strong growth in TI Clean Mobility and a major new railway contract set to boost future margins. Engineering and metal form segments expect improved performance as new capacity ramps up, while the EV business targets operational break-even in FY26.
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Q3 FY25 saw flat core revenue and profit, but consolidated revenue and profit rose year-over-year. Engineering volumes grew despite lower metal prices, while EV and export businesses face macro and policy headwinds. CapEx and expansion continue, with breakeven targeted for key EV products next year.
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Revenue grew 14% YoY, but profit declined due to margin pressures and one-time expenses. Management expects margin recovery in H2, continued export momentum, and new product launches in clean mobility. Electric three-wheeler market share remains strong in the South.
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Q1 FY25 saw strong consolidated revenue and profit growth, with robust performance in engineering, e-mobility, and medical devices. Management targets double-digit growth, continued EV expansion, and strategic capital allocation, while addressing supply chain and margin pressures.