Tube Investments of India Limited Earnings Summary — Q1 FY2027
Tube Investments Reports Q1 Standalone Revenue Growth of 18% amid Consolidated Margin Pressure
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue has increased for 7 consecutive quarters.
- Revenue of ₹6,215 Cr is 17.1% higher year-on-year.
- Revenue has compounded at 15.5% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit of ₹169 Cr is 15.2% below the same quarter last year.
- Profit growth is trailing revenue growth this quarter.
- Net profit has compounded at -5.4% annualised across the period.
- Operating margin stands at 8.8% in Q1 FY2027.
- Operating margin compressed by 148 bps year-on-year.
- Over the last two years operating margin has contracted by 280 bps.
- PBT margin is 7.4%.
- Expenses grew 19.0% against revenue growth of 17.1%.
- Operating profit of ₹548 Cr is 0.3% higher year-on-year.
- Operating leverage has been under pressure recently.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 61/100 (Healthy) on the latest 10 quarters.
- Business momentum has softened and warrants monitoring.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Improving | 6,215 | 6,215 | 5,801 | 5,523 | 5,309 | 5,150 | 4,812 | 4,925 | 4,578 | 4,490 |
| Expenses | Improving | 5,667 | 5,632 | 5,216 | 4,978 | 4,763 | 4,813 | 4,321 | 4,434 | 4,047 | 4,039 |
| Operating Profit | Improving | 548 | 583 | 585 | 544 | 546 | 337 | 491 | 490 | 531 | 451 |
| Operating Margin | Stable | 8.8% | 9.4% | 10.1% | 9.8% | 10.3% | 6.5% | 10.2% | 9.9% | 11.6% | 10.1% |
| Other Income | Volatile | 112 | 108 | 49 | 93 | 72 | 150 | 77 | 71 | 62 | 77 |
| Interest | Stable | 16 | 16 | 15 | 14 | 17 | 16 | 15 | 16 | 16 | 15 |
| Depreciation | Improving | 183 | 175 | 173 | 164 | 152 | 137 | 127 | 119 | 110 | 115 |
| Profit Before Tax | Stable | 461 | 500 | 445 | 459 | 449 | 334 | 426 | 426 | 467 | 398 |
| Tax | Improving | 167 | 266 | 166 | 157 | 146 | 175 | 146 | 127 | 150 | 124 |
| Net Profit | Volatile | 169 | 85 | 166 | 187 | 199 | 47 | 194 | 207 | 227 | 191 |
| Net Margin | Volatile | 2.7% | 1.4% | 2.9% | 3.4% | 3.8% | 0.9% | 4.0% | 4.2% | 5.0% | 4.3% |
Key Takeaways
- Standalone revenue grew by 17.9% YoY to ₹2,366 Cr, driven by strong performance in the Engineering segment which grew 20.6% YoY.
- Standalone Net Profit declined by 5.6% YoY to ₹158.62 Cr, as PBT margins softened from 11.1% to 9.0% due to higher raw material costs.
- The Engineering segment remains the primary driver, contributing ₹1,566 Cr in revenue, though EBIT margins in this segment stayed flat YoY.
- Consolidated results were impacted by heavy losses in the Electric Vehicles segment (₹147.32 Cr loss in Q1) including fair value adjustments on CCPS.
- Company completed the acquisition of Orange Koi Private Limited in April 2026, gaining a 76.24% stake to expand into medical and defense precision parts.
- Free cash flow for the standalone entity remained healthy at ₹174 Cr for the quarter with an annualized ROIC of 41%.
Management Guidance
Management expects volume growth to remain bullish despite commodity price headwinds. They anticipate scaling EV truck and small commercial vehicle deployments in Q1 and Q2 FY27. Standalone capex for FY27 is projected between ₹300-350 Cr, focusing on core business expansions and the new CDMO facility at Naidupet.
Sentiment Shift
Stable
While revenue growth is strong in the core engineering business, consolidated profitability is being weighed down by continuous heavy investments and fair value losses in the EV mobility startup phase.
Outlook
The outlook remains positive for the Engineering and Metal Formed products segments, supported by strong OEM demand. The Electric Vehicle segment (TICMPL) faces short-term deployment hurdles in financing and infrastructure but holds a strong order book for heavy trucks. The medical devices business is expected to grow 20% YoY following new asset acquisitions.
From the Annual Report (Key Quotes)
“As of now, we see volume growth are still on the stronger side. So, we see the growth is still bullish.”
“We took a short term hit, our Q4 volume took a beating because we could only produce 50%... now that issue is resolved.”
“Overall we are still bullish about this business and we are hopeful will give 20% year-on-year growth in TI Medical going forward.”
Official Quarterly Documents
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This summary is AI-generated from Tube Investments of India Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.