Tube Investments of India Ltd

Material updates

• Investor Presentation for Q1 2026-27 is released and uploaded on TI India's website.
• TI Medical Private Limited completed the acquisition of Medicura Devices' medical plastic consumables business in March 2026.
• ₹25 crore invested in Series D CCPS during quarter ended June 30, 2026.
• As of 30 June 2026, TI Clean Mobility Pvt Ltd holds a 95.58% stake in IPLT.
• Orange Koi became a TI subsidiary in April 2026 after acquiring 76.24% of paid-up equity.
• CG Semi Private Limited commenced commercial production at its G1 OSAT facility in Sanand on 4 July 2026.
• Montra Electric expanded its eSCV portfolio with two new variants in April 2026.

Acquisition details

• Target: Shanthi Gears Limited (SGL), a listed subsidiary designing and manufacturing gears and gearboxes in India.
• Turnover for FY2025-26 was Rs 518.72 crore; paid-up capital Rs 7.67 crore.
• Not a related-party transaction; acquisition via block deal and all-cash consideration.
• Acquired equity shares: 20,64,713 shares (2.69% of SGL); post-acquisition TIIL stake 73.16%.
• Timeline: Completed on 21 August 2026.
• Regulatory approvals: Not Applicable.
• Part of TIIL's long-term investment plans.
• SGL incorporated 1 July 1972; designs and manufactures gears, gearboxes, geared motors.
• Turnover history: FY2025-26 Rs 518.72 Cr; FY2024-25 Rs 604.62 Cr; FY2023-24 Rs 536.05 Cr.

Meeting Details

• Date: August 17, 2026 (Q1 FY2027 earnings call).
• Format: virtual group call.
• Event: Tube Investments Q1 FY2027 Earnings Call; organizer: IIFL Capital Services Limited.

Participants

• Key company participants: Executive Chairman, Managing Director, CFO, and management team.

Purpose

• Purpose: discuss Q1 FY2027 results and segment performance.

Additional Notes

• Recording of the call is available.

Meeting Details

• Date and time: 17 August 2026 at 10:00 IST.
• Type and mode: group conference call, audio recording.
• Event/organiser: Analysts and Investors conference group call.
• Key company participants: Company Secretary.
• Purpose: Audio recording of the conference group call with analysts and investors.
• Recording availability: Recording hosted on the company website.

Financial results

• Standalone Q1 ended 30-06-2026: Revenue Rs 2,366 Cr; PBT Rs 213 Cr; PAT Rs 294 Cr.
• Consolidated Q1 ended 30-06-2026: Revenue Rs 6,215 Cr; PBT Rs 461 Cr; PAT Rs 294 Cr.
• ROIG (annualized) at 41% for the quarter.
• Board approved unaudited standalone and consolidated results; Limited Review Reports enclosed.
• ESOP: 15,450 equity shares allotted; total outstanding options 8,93,861.

Acquisitions & corporate actions

• Orange Koi became subsidiary; 76.24% stake acquired for Rs 35 Cr; effective 6 Apr 2026.
• Definitive agreements for up to 87% stake; 76.24% completed via April 2026 acquisition.
• Rs 25 Cr invested in Series D CCPS of 3xper Innoventure Limited in Q1.
• Orange Koi provisional goodwill recognized; measurement period one year from acquisition.
• CG Power & Industrial Solutions raised Rs 3,000 Cr via QIP; unutilised funds invested.
• Direct tax litigations at CGPISL ongoing; management expects favorable outcome.
• Labour Codes impact: exceptional items for gratuity and compensated absences recognized.
• Amounts: Rs 56.99 Cr (Dec 2025) and Rs 110.97 Cr (Mar 2026).

Auditor reviews & regulatory disclosures

• Independent auditor reviews completed; no material misstatement observed; opinion not issued.
• Unaudited results filed with BSE/NSE; available on tiindia.com.

Meeting Details

• No meeting details (date, time, type, organiser) are provided.

Overview

• Standalone BRSR for FY2025-26; reporting boundary is standalone.
• Main activities: ERW/CDW tubes, sheet metal formed components, cycles, and others.
• Turnover mix: 61% Steel Strips & Tubes; 19% Metal Formed; 9% Cycles; 11% Others.
• Exports ~14% of turnover; domestic focus with Asia/Europe/USA exposure.
• 26 plants in India, 37 Indian offices, 5 international offices; 63 total locations.
• Reasonable assurance on BRSR by Sundaram & Srinivasan.

Key ESG Risks & Opportunities

• Climate Change: risk and opportunity; roadmap to higher renewable energy use.
• Water Management: negative risk; ET/STP treatment and rainwater harvesting to improve reuse.
• Waste Management: negative risk; circular economy approach and waste segregation targets.
• Product Stewardship: opportunity to strengthen brand through responsible products.
• Responsible Supply Chain: positive; Vendor Code of Conduct to de-risk supply chain.
• Occupational Health & Safety: risk due to large workforce; strong governance and training.
• Employee Wellbeing: positive; comprehensive welfare programs.
• Human Rights: positive; fair treatment aligned with Murugappa principles.
• Social Responsibility: positive; community initiatives and equitability focus.

Governance & Policy Highlights

• No dedicated sustainability committee; ESG oversight via Board and Internal Steering Committee.
• Key policies: Code of Conduct, Whistleblower, RPT, BR Policy; anti-bribery policy.
• Certifications: ISO 45001, 14001, 9001; IATF 16949; EN 15085-2; IRIS.
• External assurance: Sundaram & Srinivasan on BRSM/identified sustainability information.
• BR oversight: MD leads governance; periodic Board/committee reviews.
• No penalties/fines disclosed for FY2025-26.

Social Responsibility & Workforce

• Total workforce: 1,767 (1,644 permanent; 13,508 workers).
• Board female representation: 14.29%; Key Management female: 25%.
• Turnover: permanent 23% male, 19% female; workers 4% male, 0% female.
• LTIFR (workers) 0.007; 3 total injuries; 6 high-consequence injuries; one driver fatality.
• Well-being measures include health, accident, and life insurance; maternity benefits.
• Training: 80.1% health/safety; 92.7% skill upgradation for employees; 99.4% safety for workers.
• Human rights training: 78% employees; 92% workers; equal opportunity policies in place.
• CSR initiatives: TI Medical Outreach, TIMORC, 1 million trees, 805 trainees certified.

Environmental Performance

• Total energy 16,07,325 GJ; renewables 5,09,731 GJ; non-renewables 10,97,594 GJ; intensity 199 GJ/Cr.
• Water withdrawal 5,37,073 KL; groundwater 1,47,994; third-party 3,54,817; rainwater 34,262; intensity 67 KL/Cr.
• GHG Scope 1: 52,925 tCO2e; Scope 2: 46,678 tCO2e; total intensity 12 MT/Cr; 0.15 MT/tonne.
• Total waste 1,32,976 MT; recycled 1,25,044 MT; landfill 5,489 MT; incineration 36 MT.
• 100% Zero Liquid Discharge; ET/STP in all plants; water reused in operations.
• Renewable energy initiatives: rooftop solar, RE PPAs, HVLS/BLDC upgrades, LED lighting.
• Scope 3: 4,97,139 tCO2e; 75% value-chain assessed; 62 MT/Rs Crore; 13 MT/USD Crore.

Stakeholder Engagement & Complaints

• Stakeholders: customers, communities, NGOs, investors, regulators, employees, suppliers, dealers.
• Engagement channels: digital platforms, surveys, investor calls; regular interactions on sustainability.
• Customer complaints: 1,812 filed; 28 pending; 1,756 resolved.
• Investors: 20 complaints filed; 4 pending; Communities: not disclosed; POSH complaints rare.
• Data privacy: no data breaches reported; robust cybersecurity measures in place.
• Grievance policy accessible; BR policy link provided.

Other Notable Metrics

• Value-chain assessments: ~75% of partners assessed for health/safety and working conditions.
• Sourcing: 96% inputs from India; 11% direct MSME sourcing.
• Capex on environmental improvements: 23.08 Cr; ~5.67% of total capex.
• Recycled input: steel recycled 11.8% (FY25-26); 14.93% prior year.
• RPTs with related parties: purchases 0.03%; sales 0.60%; investments 99.80%.
• CSR beneficiaries: 36,131 via Medical Outreach; 761 trainees certified; 13,100 sq ft hospital (Phase 1).
• Data on green credits: none reported; no material public policy advocacy.

Financial Highlights (Consolidated)

• Consolidated revenue ₹22,847.43 cr.
• Consolidated PAT ₹1,118.22 cr.
• Consolidated EPS ₹32.85.
• Dividends: final ₹1.50; interim ₹2; total ₹3.50 per share.

Capital & Shareholder Details

• Total debt ₹392.37 cr; undrawn lines of credit ₹1,620.24 cr; debt-equity 0.05x.
• Promoter shareholding 44.04%.
• No external customer >10% of revenue.

Geography & Acquisitions

• India revenue ₹19,808.64 cr.
• Outside India revenue ₹3,038.79 cr.
• Orange Koi acquisition: Apr 2026; subsidiary status; PPA in progress.