Any current/future new fundraising through debt or equity?

No immediate equity raise is planned beyond the Rs.1,700 crore raised in Round One for the Molycop acquisition. The total investment in Molycop is around Rs.3,520 crores, financed through a mix of equity raised, internal accruals, and debt. Currently, the company has sufficient funds and debt facilities to complete the transaction. If needed, the company may consider additional equity fundraising in the future to reduce debt levels, but no concrete plans yet. Debt financing has been increased as part of the capital structure for the Molycop acquisition, with borrowing facilities upsize

Any current/future capex/capital investment/strategic investment?

The Chile CAPEX project is on track and expected to be ready for commercial production by Q2 FY27. Alternate plants in Chile have been set up to avoid any capacity limitations during the interim period. The company is making strategic investments in expanding presence across Europe, Latin America, and Australia, with customer trials and negotiations at advanced stages, expected to contribute meaningfully from FY27 onwards. Regarding the Molycop acquisition, the company has increased its stake to 84% and is working on completing the transaction by March 31, 2026, with some potential spill

Future growth expectations in sales/revenue/volumes?

Tega Industries expects strong growth in Q4 FY26, supported by a robust order backlog, especially in equipment sales which are expected to ramp up after some quarter-to-quarter variability. The full-year consumables segment growth for FY26 is anticipated around 8%, below the long-term 15% CAGR target; equipment business growth is forecasted at 28%-30%. Long-term growth guidance of 15% CAGR in consumables remains intact, with a focus on double-digit group-level growth. FY27 revenue guidance will be provided after finalizing budgets; Q4 momentum and operational improvements are expected to

Future growth expectations in earnings/operating earnings/profits/EPS?

Tega Industries expects strong full-year growth for FY26, with equipment business projected to grow 28%-30%, and consumables around 8%, leading to a decent double-digit group-level growth. Long-term growth CAGR of 15% for the consumables segment remains intact. EBITDA margins are expected to remain robust, with Q3 impacted by one-time expenses but underlying margins above 20%. Q4 is anticipated to be strong, driven by execution of order backlog and equipment sales pushed from Q3. The company is optimistic about sustaining growth through expansion in Europe, Latin America, and Australia

Current/ Expected Orderbook/ Pending Orders?

As of December 31, 2025, Tega Industries reported an order book of approximately Rs. 1,114.02 crores. Out of this, Rs. 810.2 crores worth of orders are executable within the next 12 months. The company has a comfortable order backlog, particularly strong in equipment orders to be pushed in Q4. Quarter-to-quarter variability exists due to deferment or preponement of orders. Overall, the management advises focusing on full-year performance to smooth out such fluctuations.

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Tega Industries LtdQ4 FY27Industrial Manufacturing

Tega Industries Ltd Q4 FY27 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹1,705P/E: 59.0Market Cap: ₹11.9K CrSector: Industrial Manufacturing

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

Yes

Order

Yes

Capex

Yes

3 of 5 growth signals are positive.

Full analysis

Revenue guidance

Category 3

→Tega Industries expects strong growth in Q4 FY26, supported by a robust order backlog, especially in equipment sales which are expected to ramp up after some quarter-to-quarter variability.
→The full-year consumables segment growth for FY26 is anticipated around 8%, below the long-term 15% CAGR target; equipment business growth is forecasted at 28%-30%.
→Long-term growth guidance of 15% CAGR in consumables remains intact, with a focus on double-digit group-level growth.
→FY27 revenue guidance will be provided after finalizing budgets; Q4 momentum and operational improvements are expected to accelerate growth into FY27.
→Mining industry growth drivers include increased throughput due to rising copper and gold prices, supporting higher consumable demand.
→Post-Molycop acquisition, expansion in Europe, Latin America, and Australia will contribute to growth from FY27 onwards.
→Overall, Tega is confident of sustained growth driven by strong order book, product mix, and global expansion.

Margin guidance

Category 3

→Tega Industries expects strong full-year growth for FY26, with equipment business projected to grow 28%-30%, and consumables around 8%, leading to a decent double-digit group-level growth.
→Long-term growth CAGR of 15% for the consumables segment remains intact.
→EBITDA margins are expected to remain robust, with Q3 impacted by one-time expenses but underlying margins above 20%.
→Q4 is anticipated to be strong, driven by execution of order backlog and equipment sales pushed from Q3.
→The company is optimistic about sustaining growth through expansion in Europe, Latin America, and Australia from FY27 onward.
→Financial closure of the Molycop acquisition expected by March 2026 will support growth, with funding secured via equity, debt, and internal accruals.
→Guidance for FY27 will be provided post budget finalization, but growth momentum and profitability outlook remain positive.

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Fundraise plans

Yes

→No immediate equity raise is planned beyond the Rs.1,700 crore raised in Round One for the Molycop acquisition.
→The total investment in Molycop is around Rs.3,520 crores, financed through a mix of equity raised, internal accruals, and debt.
→Currently, the company has sufficient funds and debt facilities to complete the transaction.
→If needed, the company may consider additional equity fundraising in the future to reduce debt levels, but no concrete plans yet.
→Debt financing has been increased as part of the capital structure for the Molycop acquisition, with borrowing facilities upsized accordingly.
→A new instrument, OCRPS (Optionally Convertible Redeemable Preference Shares), is being used to remit funds into the Singapore subsidiary for the acquisition, providing financial structuring flexibility.
→Any further capital raise or refinancing expenses related to the acquisition may occur post-transaction closure, expected by March 31, 2026, or in FY27.

Order book

Yes

→As of December 31, 2025, Tega Industries reported an order book of approximately Rs. 1,114.02 crores.
→Out of this, Rs. 810.2 crores worth of orders are executable within the next 12 months.
→The company has a comfortable order backlog, particularly strong in equipment orders to be pushed in Q4.
→Quarter-to-quarter variability exists due to deferment or preponement of orders.
→Overall, the management advises focusing on full-year performance to smooth out such fluctuations.

Capex plans

Yes

→The Chile CAPEX project is on track and expected to be ready for commercial production by Q2 FY27.
→Alternate plants in Chile have been set up to avoid any capacity limitations during the interim period.
→The company is making strategic investments in expanding presence across Europe, Latin America, and Australia, with customer trials and negotiations at advanced stages, expected to contribute meaningfully from FY27 onwards.
→Regarding the Molycop acquisition, the company has increased its stake to 84% and is working on completing the transaction by March 31, 2026, with some potential spillover.
→Financing for Molycop acquisition is through a mix of internal accruals, debt, and equity, with flexibility for further equity raise if needed.
→Use of OCRPS instrument to remit funds into Tega Singapore entity for the Molycop transaction, allowing future restructuring flexibility.
→No explicit new capex guidance provided; FY27 capex guidance to be revealed after budget finalization.

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