TC

TBI Corn

Q4 FY26

TBI Corn Q4 FY26 earnings call: Revenue & Margins

Q4 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹71

Market cap₹128 Cr

P/E7.0

Updated16 Oct 2026

Read4 min read

What the Q4 FY26 call signalled

3 of 3 strong

RevenueStrong growth

MarginMargins slightly up

CapexCapex planned

The short version

The company targets a 35% CAGR in volume and revenue growth up to FY28 (Page 23). TBI Corn Limited targets a 35% CAGR growth till FY28 in volume and revenue, as per the presentation (page 23).

From TBI Corn's Q4 FY26 earnings-call transcript · updated 16 Oct 2026.

Revenue & Sales Performance

Strong growth

The company targets a 35% CAGR in volume and revenue growth up to FY28 (Page 23).
Current capacity utilization is at 72% of 350 TPD; plans to increase utilization to 96-97% across plants, driving growth (Pages 14, 16).
Expansion includes consolidation of TBI Maize Processors (120 TPD) with existing 390 TPD capacity, aiming to increase total processing capacity (Page 14).
Export revenue, currently ~10% of total, is targeted to reach 20% by FY27/FY28, focusing on premium markets like Japan and Korea for better margins (Page 12).

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Profitability & Margins

TBI Corn Limited targets a 35% CAGR growth till FY28 in volume and revenue, as per the presentation (page 23).
Capacity utilization is expected to increase from current 72% to ~96-97%, driving growth (page 22 & 14).
With full utilization of existing and new plants (total 390 TPD capacity), turnover could reach around INR 480-550 crores (page 23).
EBITDA margins may improve slightly due to operational efficiencies, though margins with big clients remain stable (5-9% range) (page 17 & 16).
Germ extraction improvements (target 5.5% in FY27) expected to add around 25 basis points to EBITDA margin (page 21).

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Capital Expenditure Plans

Capex planned

The company has operationalized an additional 40 TPD capacity at the Malkapur plant as of March 2026, increasing total capacity to 390 TPD.
TBI Maize Processors, a 120 TPD export-oriented unit with imported Bühler machinery, is planned to be merged as a 100% owned subsidiary via share swap.
Capacity utilization is expected to increase from 72% currently to 96-97% over time, driving revenue growth.
There are plans to potentially double the capacity of the TBI Maize Processors unit from 120 to 240 TPD after stabilization, requiring storage expansion.
The company is considering adding machinery for dry milling/corn flakes production at the export unit but no finalized decision yet.

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Fundraising & Capital Structure

The transcript does not mention any current or planned fundraising through debt or equity.
There is no explicit discussion on new debt or equity issuance during the H2 & FY26 post earnings conference call.
The management focuses on organic growth, capacity utilization improvements, and consolidations (e.g., TBI Maize Processors merger).
They mention a new non-recourse facility through RXIL to support working capital, which implies existing debt facility utilization rather than new fundraising.

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Order Book & Pipeline

The transcript from the provided pages does not explicitly mention the current or expected order book or pending orders for TBI Corn Limited. However, some related insights include: - The company is targeting a 35% CAGR growth till FY28, reflecting confidence in future orders and volumes. - Exports currently constitute about 10% of revenue, with a target to increase this to 20% by FY27-28. - Discussions about exports highlight orders for 10 to 20 containers, indicating ongoing export order activity.

- Capacity utilization is increasing and new capacities are coming online (e.g., additional 40 TPD in Malkapur plant), which supports the ability to fulfill growing orders. - No specific quantitative order book or pending order value is disclosed in the transcript. If you need more precise current order book data, it may be available in other sections of the full report or latest company filings.

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What TBI Corn Ltd's management said in earlier quarters

Q2 FY26 earnings call analysis →

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Frequently Asked Questions

What were TBI Corn Q4 FY26 results?

The company targets a 35% CAGR in volume and revenue growth up to FY28 (Page 23). TBI Corn Limited targets a 35% CAGR growth till FY28 in volume and revenue, as per the presentation (page 23).

What is TBI Corn share price analysis?

TBI Corn currently shows a strong growth signal based on ranking data. The stock trades at a P/E of 7.0 with a market cap of ₹128 Cr. Investors should review the full earnings analysis for detailed insights.

Is TBI Corn planning capital expenditure?

The company has operationalized an additional 40 TPD capacity at the Malkapur plant as of March 2026, increasing total capacity to 390 TPD.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.