Latest: Tube Investments of India Ltd Q1 FY27 (Apr–Jun 2026) results →This page is Q3 FY26 (Oct–Dec 2025).All Q3 FY26 results →

TI

Tube Investments of India Ltd

Q3 FY26

Tube Investments of India Q3 FY26 earnings call: Revenue & Margins

Q3 FY26 earnings call: what management said on revenue, margins and capex.

Price₹2,886

Market cap₹52.9K Cr

P/E84.4

Updated23 Aug 2026

Read5 min read

The short version

Engineering segment is showing strong and sustained growth, with domestic demand driving double-digit growth despite export challenges (Pages 5, 11). Engineering business continues to show strong growth with double-digit volume growth YTD, driven by domestic demand despite export challenges (Pages 11, 5). - The metal forming division is performing well, with capacity fully utilized for FY2027 and possible capex planned based on future demand (Page 13). - Electric vehicle (EV) business is progressively growing with targeted investments of Rs.

From Tube Investments of India Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

Engineering segment is showing strong and sustained growth, with domestic demand driving double-digit growth despite export challenges (Pages 5, 11).
Capacity expansions in engineering plants are underway, with FY2027 fully covered and possible capex for FY2028 based on demand (Page 15).
EV business (TI Clean Mobility) still requires investments; expecting breakeven in heavy vehicles and three-wheelers within 12-18 months (Page 13).
E-bike sales have shown good pickup; EV bicycles expected to grow as a segment between bicycles and two-wheelers, tapping emerging markets (Page 16).
Small commercial vehicles EV segment receiving strong market reception and early scaling (Page 9).
Ongoing focus on reducing EV product costs and expanding distribution to drive volume growth (Pages 14, 15).

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Profitability & Margins

Engineering business continues to show strong growth with double-digit volume growth YTD, driven by domestic demand despite export challenges (Pages 11, 5).
The metal forming division is performing well, with capacity fully utilized for FY2027 and possible capex planned based on future demand (Page 13).
Electric vehicle (EV) business is progressively growing with targeted investments of Rs. 500-750 Crores from the parent over next years; breakeven expected in 12-18 months for heavy vehicles and three-wheelers segments (Pages 13, 14).
TI Clean Mobility, TI Medical, and 3xper businesses (TI2 segment) are taking longer but still considered key growth drivers with management conviction to continue investing (Page 5).

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Capital Expenditure Plans

Engineering division: Fully covered for FY2027 in terms of capacity; capex decisions for FY2028 will be based on future demand assessment. (Page 13)
EV Business (TI Clean Mobility): Additional capital infusion of Rs.500 Crores to Rs.700 Crores from the parent balance sheet is planned to support growth and breakeven targets in the next 12-18 months. (Pages 12-13)
New plant in West for engineering division: Commercial operations delayed by 6-9 months; timeline pushed to early FY2027. (Page 11)

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Fundraising & Capital Structure

The company plans to infuse between Rs. 500 Crores to Rs. 750 Crores from the parent balance sheet into the electric vehicle (EV) business.
This funding is expected to support scaling and operational needs as the EV business works toward breakeven in the next 12 to 18 months.
There is a discussion underway regarding whether the funding will be through increasing equity stake or proportional contributions.

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Order Book & Pipeline

Shanthi Gears is currently facing a slowdown in its order book, with revenues declining sequentially over the past 4 to 6 quarters.
The slowdown in Shanthi Gears' order book is considered temporary, expected to revive in 1 or 2 quarters.
The group is focusing on maintaining margins and is not compromising margins to chase revenues amid fewer orders.
Engineering division is experiencing growth due to domestic market bullishness and regional balancing, with capacity utilization improving.

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Tube Investments of India Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024Q3 FY25

Mar 2025Q4 FY25

Jun 2025Q1 FY26

Sep 2025Q2 FY26

Dec 2025Q3 FY26

Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹6.2K Cr, net profit ₹234 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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Frequently Asked Questions

What were Tube Investments of India Ltd Q3 FY26 results?

Engineering segment is showing strong and sustained growth, with domestic demand driving double-digit growth despite export challenges (Pages 5, 11). Engineering business continues to show strong growth with double-digit volume growth YTD, driven by domestic demand despite export challenges (Pages 11, 5). - The metal forming division is performing well, with capacity fully utilized for FY2027 and possible capex planned based on future demand (Page 13). - Electric vehicle (EV) business is progressively growing with targeted investments of Rs.

What is Tube Investments of India Ltd share price analysis?

Tube Investments of India Ltd currently shows a neutral. The stock trades at a P/E of 84.4 with a market cap of ₹52,913 Cr. Investors should review the full earnings analysis for detailed insights.

Is Tube Investments of India Ltd planning capital expenditure?

Engineering division: Fully covered for FY2027 in terms of capacity; capex decisions for FY2028 will be based on future demand assessment.

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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.