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TIINDIA - Tube Investments

📊 NSE: TIINDIA 🏢 Steel - Large 📅 Last Updated: 12/14/2025 14:35

📢 Recent Corporate Announcements

Tube Investments (TIINDIA) Assigned ESG Rating of 73 by CFC Finlease

🟢 POSITIVE ⭐ 5/10

ROUTINE 📅 06 Mar 2026, 06:57 PM

Tube Investments of India Limited (TIINDIA) has been assigned an ESG rating of 73 by CFC Finlease Private Limited, a SEBI-registered Category-II ESG Rating Provider. This was a voluntary review conducted by the agency based on the company's publicly disclosed information. ESG ratings are becoming increasingly critical for institutional investors who have specific mandates for sustainable investing. A score of 73 indicates a relatively strong performance in environmental, social, and governance parameters.

CFC Finlease Private Limited assigned a voluntary ESG rating of 73 to the company.
The rating provider is a SEBI registered Category-II entity specializing in ESG assessments.
The evaluation was based on publicly available data and disclosures as of March 6, 2026.
The disclosure was submitted to both BSE and NSE in compliance with SEBI Regulation 30.

💡 Investors should recognize this as a positive step toward corporate transparency and sustainability, which could enhance the stock's appeal to ESG-focused institutional funds. No immediate portfolio changes are necessary based on this rating alone.

Tube Investments Allots 25,258 Equity Shares Under ESOP 2017

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 27 Feb 2026, 06:44 PM

Tube Investments of India Limited (TIINDIA) has allotted 25,258 equity shares of face value Re. 1 each on February 27, 2026. These shares were issued to eligible employees who exercised their options under the Employee Stock Option Plan 2017 at an exercise price of Rs. 270.20 per share. Consequently, the company's total outstanding equity shares have increased from 19,35,19,670 to 19,35,44,928. This is a routine administrative action with negligible impact on the overall shareholding structure.

Allotment of 25,258 equity shares of Re. 1 face value each to employees.
Exercise price for the allotted shares was fixed at Rs. 270.20 per share.
Total paid-up equity share capital increased to Rs. 19,35,44,928.
The equity dilution resulting from this allotment is approximately 0.013%.

💡 No action is required as this is a routine ESOP allotment. The marginal increase in share capital does not impact the company's fundamental valuation or investment thesis.

Tube Investments (TIINDIA) Schedules One-on-One Investor Meeting for March 4, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 26 Feb 2026, 03:50 PM

Tube Investments of India Limited (TIINDIA) has informed the exchanges about a scheduled one-on-one meeting with analysts and institutional investors. The meeting is set to take place on March 4, 2026, starting at 3:00 P.M. IST. This disclosure is a routine compliance measure under Regulations 30(2) and 46(2) of the SEBI Listing Obligations and Disclosure Requirements. Such meetings are standard practice for maintaining transparent communication with the investment community regarding business operations.

One-on-one meeting with analysts/investors scheduled for March 4, 2026.
The meeting is scheduled to commence at 3:00 P.M. IST.
Compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The schedule is subject to last-minute changes as per the company's intimation.

💡 No immediate action is required as this is a routine corporate update. Investors should look for any subsequent filings of investor presentations or transcripts that may provide insights into the company's growth strategy.

Tube Investments Schedules One-on-One Investor Meeting for March 4, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 26 Feb 2026, 03:48 PM

Tube Investments of India Limited (TIINDIA) has announced a one-on-one meeting with analysts and institutional investors scheduled for March 4, 2026, at 3:00 PM IST. This disclosure is a routine compliance requirement under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting provides an opportunity for institutional stakeholders to engage with the company's management regarding its business operations. Investors should be aware that such schedules are subject to last-minute changes depending on availability.

One-on-one meeting with analysts/investors scheduled for March 4, 2026
The meeting is set to commence at 3:00 PM IST
Compliance filing made under Regulations 30(2) and 46(2) of SEBI LODR
The announcement was officially recorded on February 26, 2026

💡 No immediate action is required as this is a routine meeting; however, investors should monitor for any subsequent investor presentations or transcripts for insights into the company's growth outlook.

Tube Investments of India Schedules One-on-One Investor Meeting for March 4, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 26 Feb 2026, 03:47 PM

Tube Investments of India Limited (TIINDIA) has announced a scheduled one-on-one meeting with analysts and institutional investors. The meeting is set to take place on March 4, 2026, starting at 3:00 P.M. IST. This disclosure is a routine compliance requirement under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Such meetings typically involve discussions on business performance and future outlook, though no specific agenda was disclosed.

One-on-one meeting with analysts/investors scheduled for March 4, 2026
Meeting time confirmed for 3:00 P.M. Indian Standard Time
Compliance with SEBI (LODR) Regulations 30(2) and 46(2)
The company noted that the schedule is subject to last-minute changes

💡 No immediate action is required as this is a routine corporate interaction. Investors should watch for any post-meeting presentations or transcripts filed with the exchanges for potential insights into the company's growth strategy.

TIINDIA Seeks Approval for Reappointment of Two Independent Directors for 5-Year Terms

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 16 Feb 2026, 01:21 PM

Tube Investments of India Limited (TIINDIA) has initiated a postal ballot to seek shareholder approval for the reappointment of two Independent Directors. Mr. Anand Kumar is proposed for a second five-year term from March 2026 to March 2031, and Mr. V S Radhakrishnan is proposed for a second five-year term from July 2026 to July 2031. The voting process is conducted via electronic mode, with the results expected by March 23, 2026. These reappointments are intended to ensure leadership continuity on the company's board.

Reappointment of Mr. Anand Kumar as Independent Director for a second 5-year term starting March 24, 2026.
Reappointment of Mr. V S Radhakrishnan as Independent Director for a second 5-year term starting July 5, 2026.
Remote e-voting period is set from February 18, 2026, to March 19, 2026.
The cut-off date for determining shareholder eligibility for voting was February 13, 2026.
Final results of the postal ballot will be announced on or before March 23, 2026.

💡 Investors should take note of the leadership continuity in the independent director positions and may cast their votes through the NSDL e-voting platform before the March 19 deadline. This is a routine governance matter and does not necessitate any immediate changes to investment positions.

Tube Investments Q3 FY26: Standalone PBT Grows 26% to ₹268 Cr; ₹2 Dividend Declared

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 09 Feb 2026, 01:10 PM

Tube Investments of India (TII) reported a robust Q3 FY26 with standalone revenue increasing to ₹2,152 Cr and PBT rising 26% YoY to ₹268 Cr. The core engineering segment remains the primary growth driver, while the mobility division turned profitable at the PBIT level. Management reaffirmed commitment to its TI2 strategy (EV, CDMO, and Medical) despite execution delays, while subsidiary CG Power continues to deliver strong consolidated performance with ₹3,175 Cr in revenue.

Standalone PBT grew 26% YoY to ₹268 Cr with an impressive annualized ROIC of 49%.
Engineering segment revenue rose to ₹1,438 Cr, driven by strong domestic demand despite a 50% effective duty on US exports.
Mobility business achieved a PBIT of ₹4 Cr, recovering from a loss of ₹0.8 Cr in the previous year.
Subsidiary CG Power reported a 26% revenue growth to ₹3,175 Cr with a profit of ₹420 Cr.
Board declared an interim dividend of ₹2 per share for the financial year 2025-26.

💡 Investors should remain positive on the stock as the core engineering business and CG Power subsidiary provide strong cash flows while the company navigates the longer gestation period of its EV and CDMO ventures. Monitor the scaling of the 3xper (CDMO) facility which is expected to start production in the next three months.

TIINDIA to Acquire 87% Stake in Orange Koi for Rs 73 Cr to Enter Metal Injection Molding Business

🟢 POSITIVE ⭐ 8/10

M&A 📅 06 Feb 2026, 04:03 PM

Tube Investments of India (TII) has entered into definitive agreements to acquire up to an 87% stake in Orange Koi Private Limited for an aggregate consideration of up to Rs 73 Crore. This strategic move marks TII's entry into the specialized metal injection molding (MIM) and additive manufacturing sectors, targeting high-growth industries like medical and defense. Orange Koi has demonstrated rapid growth, with its turnover increasing from Rs 0.16 Cr in FY23 to Rs 3.76 Cr in FY25. The acquisition will be executed in a staggered manner through both fresh equity subscription and secondary share purchases.

Acquisition of up to 87% equity stake in Orange Koi Private Limited for a total sum of up to Rs 73 Crore.
Target company specializes in precision parts manufacturing using metal injection molding for medical and defense sectors.
Orange Koi's revenue grew significantly from Rs 0.16 Cr in FY23 to Rs 3.76 Cr in FY25.
The initial phase of the acquisition is expected to be completed on or before February 28, 2026.
The investment aims to support Orange Koi's expansion and increase its manufacturing capabilities.

💡 Investors should view this as a positive long-term strategic diversification into high-margin precision manufacturing. While the target's current revenue is small, the entry into medical and defense supply chains provides significant growth optionality for TII.

TIINDIA Submits Application to Reclassify Algavista Greentech from Promoter to Public Category

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 05 Feb 2026, 05:57 PM

Tube Investments of India Limited (TIINDIA) has formally applied to the NSE and BSE for the reclassification of Algavista Greentech Private Limited. The entity is seeking to move from the 'Promoter Group' category to the 'Public Shareholder' category. This follows the Board of Directors' approval granted on February 4, 2026, after an initial request on December 18, 2025. This is a procedural regulatory step and does not currently indicate a change in the company's operational management.

Application submitted to NSE and BSE on February 5, 2026, for reclassification of a promoter group member.
Algavista Greentech Private Limited is the outgoing member moving to the Public Shareholder category.
The Board of Directors approved the reclassification request on February 4, 2026.
The process follows the initial request received by the company on December 18, 2025.
The submission is made under Regulation 31A 8(c) of SEBI (LODR) Regulations, 2015.

💡 This is a routine administrative update regarding the company's shareholding structure. No immediate action is required as it does not impact the company's business fundamentals or financial performance.

Tube Investments of India Releases Audio Recording of Analyst/Investor Call

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 04 Feb 2026, 06:59 PM

Tube Investments of India Limited (TIINDIA) has officially released the audio recording of its conference call with analysts and investors held on February 4, 2026. This filing follows the company's prior notification on January 23, 2026, regarding the scheduled interaction. The recording is accessible via the company's website under the financial information section as per SEBI LODR regulations. Such recordings typically provide deeper insights into management's perspective on quarterly results and strategic initiatives.

Conference call with analysts and investors was successfully conducted on February 4, 2026, at 4:30 P.M. IST.
Audio recording is now available on the company's website for public access under the financial information section.
The disclosure is compliant with Regulations 30 and 46 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The event follows a prior intimation sent to exchanges on January 23, 2026.

💡 Investors should listen to the recording to gain insights into management's outlook on the company's engineering and EV segments. No immediate trading action is required as this is a routine regulatory disclosure.

TIINDIA Declares ₹2 Interim Dividend; Q3 Standalone PAT Rises 17.6% YoY to ₹189 Crore

🟢 POSITIVE ⭐ 8/10

DIVIDEND 📅 04 Feb 2026, 02:12 PM

Tube Investments of India (TIINDIA) has declared an interim dividend of ₹2 per equity share for FY26, with the record date set for February 10, 2026. The company reported a solid Q3 FY26 performance, with standalone revenue from operations increasing 11.7% YoY to ₹2,133.41 crore. Net profit for the quarter grew by 17.6% YoY to ₹188.99 crore, reflecting steady operational growth. The board also approved the reappointment of two independent directors and a promoter reclassification request.

Declared an interim dividend of ₹2 per equity share (200% of face value) for FY 2025-26
Standalone Revenue from Operations grew 11.7% YoY to ₹2,133.41 crore in Q3 FY26
Standalone Profit After Tax (PAT) increased 17.6% YoY to ₹188.99 crore
Record date for dividend eligibility is fixed as Tuesday, February 10, 2026
Approved reappointment of Anand Kumar and V S Radhakrishnan as Independent Directors for 5-year terms

💡 Investors should ensure they hold shares before the February 10 record date to be eligible for the ₹2 dividend. The consistent double-digit growth in revenue and profit indicates strong fundamental performance.

TIINDIA Q3 PAT Rises 17.6% to ₹189 Cr; Declares ₹2 Interim Dividend

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 04 Feb 2026, 02:10 PM

Tube Investments of India (TIINDIA) reported a steady Q3 FY26 with standalone revenue growing 12.7% YoY to ₹2,152.22 crore. Standalone Profit After Tax (PAT) saw a healthy increase of 17.6% YoY, reaching ₹188.99 crore. The company declared an interim dividend of ₹2 per share (200% of face value) with a record date of February 10, 2026. Additionally, the board approved the reappointment of two independent directors and the reclassification of Algavista Greentech from the promoter to the public category.

Standalone Revenue from Operations increased to ₹2,152.22 Cr in Q3 FY26 from ₹1,910.16 Cr in Q3 FY25.
Standalone Profit After Tax (PAT) grew 17.6% YoY to ₹188.99 Cr for the quarter ended December 2025.
Interim Dividend of ₹2 per equity share declared; Record Date fixed as February 10, 2026.
Nine-month Standalone PAT for FY26 reached ₹543.83 Cr compared to ₹483.01 Cr in the previous year.
Board approved reclassification of Algavista Greentech Private Limited from 'Promoter' to 'Public' category.

💡 Investors should note the steady double-digit growth in both revenue and profitability. The stock remains attractive for dividend seekers with the upcoming record date on February 10.

TIINDIA Q3 PAT Rises 17.6% to ₹189 Cr; Declares ₹2 Interim Dividend

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 04 Feb 2026, 02:08 PM

Tube Investments of India (TIINDIA) reported a steady performance for Q3 FY26, with standalone revenue growing to ₹2,152.22 crore from ₹1,910.16 crore in the previous year. Net profit for the quarter increased by 17.6% year-on-year to ₹188.99 crore. The board declared an interim dividend of ₹2 per share, representing a 200% payout on the face value. Additionally, the company approved the reclassification of Algavista Greentech Private Limited from the promoter group to the public category.

Standalone Revenue from operations grew 12.7% YoY to ₹2,152.22 crore in Q3 FY26
Standalone Profit After Tax (PAT) increased to ₹188.99 crore from ₹160.74 crore in Q3 FY25
Declared an interim dividend of ₹2 per equity share with a record date of February 10, 2026
Reappointed Independent Directors Anand Kumar and V S Radhakrishnan for second 5-year terms
Approved reclassification of Algavista Greentech Private Limited to Public Shareholder category

💡 Investors should note the consistent double-digit growth in both revenue and profitability. The dividend declaration and leadership continuity through director reappointments provide further stability for long-term holders.

TIINDIA Q3 PAT Rises 17.6% to ₹189 Cr; Declares ₹2 Interim Dividend & Reappoints Directors

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 04 Feb 2026, 02:05 PM

Tube Investments of India (TIINDIA) reported a solid performance for Q3 FY26, with standalone revenue growing 12.7% YoY to ₹2,152.22 Cr. Net profit for the quarter increased by 17.6% YoY to ₹188.99 Cr, reflecting strong operational execution. The board has rewarded shareholders with an interim dividend of ₹2 per share, while also ensuring leadership stability through the reappointment of two key independent directors for second five-year terms. Additionally, the company is processing the reclassification of Algavista Greentech from the promoter group to public shareholders.

Standalone Revenue from Operations increased 12.7% YoY to ₹2,152.22 Cr in Q3 FY26.
Net Profit (PAT) rose 17.6% YoY to ₹188.99 Cr compared to ₹160.74 Cr in the same quarter last year.
Declared an interim dividend of ₹2 per equity share (200% of face value) with a record date of February 10, 2026.
Reappointed Independent Directors Anand Kumar and V S Radhakrishnan for second 5-year terms starting 2026.
Approved the reclassification of Algavista Greentech Private Limited from 'Promoter' to 'Public' category.

💡 The steady growth in bottom-line and consistent dividend payouts reinforce TIINDIA's position as a stable compounder. Investors should maintain their positions as the company demonstrates both financial growth and governance continuity.

TIINDIA Q3 PAT Rises 17.6% to ₹189 Cr; Declares ₹2 Interim Dividend

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 04 Feb 2026, 02:02 PM

Tube Investments of India (TIINDIA) reported a strong performance for Q3 FY26, with revenue from operations growing 12.7% YoY to ₹2,152.22 crore. Net profit for the quarter increased by 17.6% YoY to ₹188.99 crore, up from ₹160.74 crore in the same period last year. The board has declared an interim dividend of ₹2 per share, representing a 200% payout on the face value of ₹1. Additionally, the company has fixed February 10, 2026, as the record date for the dividend payment.

Revenue from operations grew to ₹2,152.22 crore in Q3 FY26 compared to ₹1,910.16 crore in Q3 FY25.
Profit After Tax (PAT) for the quarter stood at ₹188.99 crore, a 17.6% increase over the previous year.
Interim dividend of ₹2 per equity share declared with a record date of February 10, 2026.
Nine-month PAT for the period ending December 2025 reached ₹543.83 crore versus ₹483.01 crore YoY.
Board approved the reappointment of two Independent Directors for a second five-year term.

💡 Investors should track the stock for the upcoming dividend record date of February 10. The consistent growth in both revenue and profitability reinforces the company's strong market position.

View All TIINDIA Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue grew 15.2% YoY to INR 19,464.7 Cr in FY25. Engineering segment revenue reached INR 1,382 Cr in Q2 FY26 (up 4.5% YoY), while Metal Formed Products stood at INR 408 Cr. CG Power, the largest subsidiary, drove significant growth, while the EV business is scaling up with new launches of e-SCVs and e-tractors in Q4 FY25.

Geographic Revenue Split

Not explicitly disclosed in percentages, but the company is actively pursuing geographic expansions to mitigate domestic cyclicality, particularly in the engineering and metal formed products divisions which serve global auto OEMs.

Profitability Margins

Consolidated Operating Margins declined by 160 bps to 10.2% in FY25 (from 11.8% in FY24) due to operational losses in the nascent EV business. PAT margin stood at 5.4% in FY25 compared to 10.3% in FY24, impacted by the absence of previous year's fair value gains.

EBITDA Margin

Consolidated OPBDIT/OI margin was 10.5% in FY25, down from 12.1% in FY24. This 160 bps compression is primarily attributed to higher operating costs associated with the expansion of the EV vertical and gestational losses in CDMO and medical consumables.

Capital Expenditure

Planned cumulative capex of INR 3,000-3,500 Cr over the medium term. This includes an annual outlay of INR 1,200-1,500 Cr for capacity enhancement in existing businesses and new ventures like EV, medical consumables, and the CDMO facility at Naidupet (INR 99 Cr invested in FY25).

Credit Rating & Borrowing

Long-term rating reaffirmed at [ICRA]AA+ (Stable) and Short-term rating at [ICRA]A1+. Borrowing costs remain low as the company has been net debt negative since FY23, with total debt/OPBDIT at a healthy 0.3x in FY25.

⚙️ Operational Drivers

Raw Materials

Steel (for CDW tubes and metal forming), Copper and Aluminum (for CG Power systems), and active pharmaceutical ingredients (for CDMO). Steel and power-related metals constitute the bulk of the raw material cost base.

Import Sources

Not specifically disclosed, but procurement is managed through a mix of domestic sourcing for steel and global sourcing for specialized electronic components and pharmaceutical inputs.

Capacity Expansion

Setting up a greenfield CDMO facility in Naidupet, Andhra Pradesh, and a medical consumables facility in Uttar Pradesh. Additionally, subsidiary CG Power is establishing an OSAT (Semiconductor) facility with a planned investment of INR 2,683 Cr over 2-3 years.

Raw Material Costs

Raw material costs are a significant portion of the operating income; however, the company uses a pass-through mechanism for input cost changes in the engineering division, though with a time lag that can temporarily squeeze margins.

Manufacturing Efficiency

Standalone ROIC was 44% in Q2 FY26. The company focuses on an assembly-led model for cycles and metal forming to reduce fixed asset intensity and improve capital efficiency.

📈 Strategic Growth

Expected Growth Rate

10%

Growth Strategy

Growth will be driven by a multi-pronged strategy: 1) Scaling the EV business (TICMPL) through e-SCV and e-tractor launches; 2) Diversifying into high-margin CDMO and medical consumables; 3) Entering the semiconductor space via the CG Power OSAT facility; and 4) Maintaining market leadership in core engineering products like CDW tubes.

Products & Services

Cold Drawn Welded (CDW) tubes, automotive chains, fine blanking products, retail cycles, electric small commercial vehicles (e-SCVs), electric tractors, surgical sutures, gearboxes, and power transformers.

Brand Portfolio

BSA (motorcycles/cycles), Montra (EVs), Shanthi Gears, CG Power, 3xper Innoventure.

New Products/Services

Launched e-SCVs and e-tractors in Q4 FY25. Entering the semiconductor OSAT market and expanding the CDMO portfolio to include Active Pharmaceutical Ingredients (APIs).

Market Expansion

Targeting the medical devices market through TI Medical's new facility in Uttar Pradesh and the domestic motorcycle market through the BSA brand licensing JV (TICL Brands).

Market Share & Ranking

Market leader in CDW tubes in India; one of the largest organized players in retail cycles with >20% market share; major supplier of automotive chains.

Strategic Alliances

Joint Venture with Premji Invest (PI Opportunity Fund) for medical devices; JV for BSA brand licensing (TICL Brands); and partnership with Mr. N Govindarajan for the 3xper CDMO business.

🌍 External Factors

Industry Trends

The industry is shifting toward EVs and sustainable materials. TIINDIA is positioning itself by pivoting from a pure-play auto component maker to a diversified industrial conglomerate with interests in clean mobility and semiconductors.

Competitive Landscape

Faces intense competition in the retail cycle segment and from global players in the power systems (CG Power) and upcoming semiconductor sectors.

Competitive Moat

Moat is built on market leadership in niche engineering products (CDW tubes) and the strong brand equity of the Murugappa Group. These are sustainable due to high entry barriers in precision engineering and established OEM relationships.

Macro Economic Sensitivity

Highly sensitive to Indian GDP growth and automotive sales cycles. A slowdown in the 2W or PV markets directly impacts the engineering division's utilization.

Consumer Behavior

Shift toward ride-sharing and environmental awareness is driving the company's aggressive push into the EV ecosystem (e-tractors and e-SCVs).

Geopolitical Risks

Global economic headwinds may impact high-value manufacturing exports, though India's positioning in electronics and semiconductors provides a hedge.

⚖️ Regulatory & Governance

Industry Regulations

Beneficiary of Government of India subsidies for the OSAT semiconductor project. Operations are subject to auto-emission norms and medical manufacturing standards (ISO/CDSCO).

Environmental Compliance

Focus on sustainable materials and waste-to-fuel technology (X2 Fuels investment) to align with increasing environmental regulations.

Taxation Policy Impact

Not disclosed as a specific percentage, but subject to standard Indian corporate tax rates.

Legal Contingencies

Notice of transfer of unclaimed dividends and equity shares to IEPF as per statutory requirements; no major pending litigation values disclosed.

⚠️ Risk Analysis

Key Uncertainties

Gestation period for the semiconductor and EV businesses could be longer than expected, leading to sustained margin pressure (potential 1-2% impact on consolidated margins).