Tube Investments of India Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹42,145 Cr
- P/E
- 67.26
- ROE
- 9.95%
- PEG
- -5.95
- Price to sales
- 1.76
- Debt to equity
- 0.10
- 52W high / low
- ₹3,308 / ₹2,080
- Sales growth (5Y)
- 30.30%
- EBITDA margin
- 9.51%
- Net profit margin
- 5.08%
- Promoter holding
- 44.11%
- Sales (last year)
- ₹23,754 Cr
Tube Investments of India Limited (TII) is one of India’s leading manufacturers of a wide range of products for major industries such as Automotive, Railway, Construction, Mining, Agriculture, etc. The Company’s 3 main verticals are Engineering, Metal Formed Products and Bicycles. In line with its growth strategies, the Company has forayed into TMT bars and Truck Body Building business and is additionally exploring opportunities in optic lens and other vision systems for the Auto industry. [1]
Guidance scorecard · Q1 FY27 call
What Tube Investments of India Ltd's management guided
and where it ranks in Auto Components
Auto Components
RevenueQ1 FY27 call
10–20%- Engineering segment volume grew 17% in Q1; demand environment expected to stay bullish for next 1-2 quarters with double-digit export growth.
- Cycle business had strong volume growth, capitalizing on seasonal demand; margin improvement expected to continue.
- EV business showing improving traction with highest ever turnover of ~Rs. 240 Crores in Q1 and some segments expected to break even this year or next.
- E-mobility segment volumes improving: three-wheeler (1,924 units Q1), small commercial vehicles, and heavy commercial vehicles showing growth.
- Medical business expects 20% YoY growth supported by an acquisition starting contribution from Q2.
2 more points from Tube Investments of India Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Tube Investments of India Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Tube Investments plans approximately Rs. 350 Crores capex for the current financial year in the standalone business.
- Shanthi Gears expects around Rs. 100 Crores capex in the current financial year.
- The group as a whole anticipates total capex between Rs. 600 to 700 Crores.
- Rs. 250 Crores infusion was done in Q4 FY2026 into new ventures/subsidiaries, with another Rs. 250 Crores infusion expected in Q3 FY2027, totaling about Rs. 750 Crores over time.
- Strategic investments include acquisition of a small startup in additive manufacturing (metal injection molding) under "Orange Koi," aiming to develop new capabilities and scale it up after initial market study.
2 more points from Tube Investments of India Ltd's call on capex
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FundraisingQ1 FY27 call
PlannedSee what Tube Investments of India Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
- In Heavy Commercial Vehicles (HCV), the 28-ton tipper was introduced in Q1 with 20-25 units sold and positive initial feedback. The market is shifting towards 35-ton and higher category tippers, which TI is developing.
- The existing confirmed order book primarily focuses on 4x2 tractor trailers, with supply chain challenges, including battery cell availability, being managed to service this order book.
- Port-related order deployments include 22 trucks for Welspun at Anjar port (Gujarat), single-digit truck deployments at Vizag and Chennai ports, and multi-port orders for Wonder Cement involving Tuna and Dahej ports.
- Continued seeding and testing of L3 auto products in selected markets (UP and Bihar) is ongoing, with further decisions based on market feedback.
2 more points from Tube Investments of India Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Auto Components
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Auto Components companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Flat | ₹3,020 Cr | 47.8 | |
| 2 | 40%+ | Flat | ₹1,998 Cr | 63.5 | |
| 3 | 40%+ | Flat | ₹428 Cr | 17.5 | |
| 4 | 20–40% | Up 2%+ | ₹25,721 Cr | 73.8 | |
| 5 | 20–40% | Up 2%+ | ₹13,417 Cr | 40.5 | |
| 6 | 20–40% | Up 0–2% | ₹23,344 Cr | 37.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Auto Components rankingFinancials of Tube Investments of India Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Tube Investments of India Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 3,778 | 3,898 | 4,306 | 4,197 | 4,490 | 4,578 | 4,925 | 4,812 | 5,150 | 5,309 | 5,523 | 5,801 | 6,215 |
| Expenses + | 3,288 | 3,431 | 3,744 | 3,728 | 4,039 | 4,047 | 4,434 | 4,321 | 4,813 | 4,763 | 4,978 | 5,216 | 5,632 |
| Operating Profit | 489 | 467 | 562 | 469 | 451 | 531 | 490 | 491 | 337 | 546 | 544 | 585 | 583 |
| OPM % | 13% | 12% | 13% | 11% | 10% | 12% | 10% | 10% | 7% | 10% | 10% | 10% | 9% |
| Other Income + | 188 | 42 | 59 | 609 | 77 | 62 | 71 | 77 | 150 | 72 | 93 | 49 | 108 |
| Interest | 11 | 11 | 13 | 13 | 15 | 16 | 16 | 15 | 16 | 17 | 14 | 15 | 16 |
| Depreciation | 124 | 108 | 112 | 119 | 115 | 110 | 119 | 127 | 137 | 152 | 164 | 173 | 175 |
| Profit before tax | 542 | 390 | 496 | 946 | 398 | 467 | 426 | 426 | 334 | 449 | 459 | 445 | 500 |
| Tax % | 12% | 27% | 30% | 12% | 31% | 32% | 30% | 34% | 53% | 32% | 34% | 37% | 53% |
| Net Profit + | 477 | 284 | 346 | 828 | 274 | 317 | 299 | 280 | 158 | 303 | 302 | 279 | 234 |
| EPS in Rs | 16.14 | 11.14 | 13.77 | 27.58 | 9.88 | 11.73 | 10.69 | 10.01 | 2.40 | 10.28 | 9.65 | 8.57 | 4.41 |
Financials of Tube Investments of India Ltd
Profit & Loss
Annual income statement trend
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 0 | 4,479 | 5,000 | 5,773 | 4,750 | 6,083 | 12,447 | 14,964 | 16,890 | 19,465 | 22,847 |
| Expenses + | 0 | 4,073 | 4,626 | 5,240 | 4,169 | 5,443 | 10,997 | 13,081 | 14,921 | 17,595 | 20,590 |
| Operating Profit | 0 | 406 | 374 | 533 | 582 | 641 | 1,450 | 1,883 | 1,969 | 1,870 | 2,258 |
| OPM % | 9% | 7% | 9% | 12% | 11% | 12% | 13% | 12% | 10% | 10% | |
| Other Income + | 0 | 41 | 55 | 62 | 40 | 26 | 147 | 319 | 787 | 359 | 321 |
| Interest | 0 | 77 | 62 | 56 | 34 | 52 | 99 | 58 | 73 | 83 | 62 |
| Depreciation | 0 | 149 | 154 | 162 | 185 | 251 | 347 | 396 | 454 | 492 | 664 |
| Profit before tax | 0 | 221 | 214 | 378 | 403 | 365 | 1,152 | 1,748 | 2,230 | 1,653 | 1,852 |
| Tax % | 21% | 27% | 34% | 22% | 22% | 14% | 24% | 22% | 36% | 40% | |
| Net Profit + | 0 | 174 | 156 | 251 | 313 | 286 | 991 | 1,325 | 1,733 | 1,054 | 1,118 |
| EPS in Rs | 7.86 | 12.81 | 16.31 | 14.28 | 39.85 | 49.48 | 62.35 | 34.82 | 32.90 | ||
| Dividend Payout % | 0% | 17% | 20% | 21% | 25% | 9% | 7% | 6% | 10% | 11% |
Financials of Tube Investments of India Ltd
Balance Sheet
Capital structure and asset base
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.11 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 |
| Reserves | -0 | 1,169 | 1,254 | 1,457 | 1,715 | 2,293 | 3,052 | 3,931 | 5,086 | 5,516 | 7,732 |
| Borrowings + | 0 | 851 | 776 | 611 | 414 | 1,972 | 871 | 726 | 896 | 703 | 754 |
| Other Liabilities + | 0 | 1,097 | 1,263 | 1,263 | 932 | 4,349 | 4,932 | 5,583 | 7,082 | 9,640 | 12,981 |
| Total Liabilities | 0 | 3,135 | 3,312 | 3,349 | 3,080 | 8,634 | 8,874 | 10,260 | 13,084 | 15,879 | 21,487 |
| Fixed Assets + | 0 | 1,306 | 1,358 | 1,429 | 1,515 | 3,426 | 3,324 | 3,588 | 4,393 | 5,210 | 6,321 |
| CWIP | 0 | 34 | 90 | 69 | 58 | 152 | 128 | 191 | 381 | 770 | 806 |
| Investments | 0 | 202 | 134 | 132 | 186 | 369 | 542 | 729 | 1,370 | 931 | 1,024 |
| Other Assets + | 0 | 1,593 | 1,730 | 1,719 | 1,321 | 4,687 | 4,880 | 5,752 | 6,940 | 8,969 | 13,336 |
| Total Assets | 0 | 3,135 | 3,312 | 3,349 | 3,080 | 8,634 | 8,874 | 10,260 | 13,084 | 15,879 | 21,487 |
Financials of Tube Investments of India Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -0 | 383 | 409 | 493 | 596 | 257 | 896 | 1,386 | 1,306 | 1,213 | 1,161 |
| Cash from Investing Activity + | 0 | 316 | -181 | -196 | -246 | -80 | -79 | -850 | -2,288 | -1,615 | -3,953 |
| Cash from Financing Activity + | 0 | -685 | -291 | -280 | -284 | 304 | -921 | -75 | 646 | 522 | 2,668 |
| Net Cash Flow | 0 | 14 | -63 | 17 | 66 | 481 | -104 | 461 | -336 | 120 | -124 |
| Free Cash Flow | -0 | 227 | 182 | 310 | 377 | 112 | 658 | 983 | 483 | 7 | -266 |
| CFO/OP | 104% | 128% | 115% | 123% | 56% | 70% | 87% | 80% | 90% | 86% |
Financials of Tube Investments of India Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 50 | 51 | 41 | 40 | 74 | 52 | 52 | 59 | 62 | 70 | |
| Inventory Days | 101 | 93 | 84 | 75 | 111 | 58 | 50 | 59 | 63 | 70 | |
| Days Payable | 107 | 117 | 96 | 94 | 224 | 103 | 85 | 90 | 89 | 98 | |
| Cash Conversion Cycle | 44 | 26 | 29 | 22 | -38 | 8 | 17 | 28 | 36 | 41 | |
| Working Capital Days | 4 | -4 | -3 | -2 | -88 | -30 | 0 | 10 | 24 | 67 | |
| ROCE % | 26% | 13% | 20% | 21% | 13% | 26% | 32% | 26% | 22% | 17% |
Guidance history
How Tube Investments of India Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Flat | Planned | Planned | — |
| Q4 FY26 call → | 10–20% | Flat | Planned | Planned | Rising |
| Q3 FY26 call → | 10–20% | Flat | Planned | Planned | Flat |
| Q2 FY26 call → | 10–20% | Flat | Planned | Planned | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
8 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −30.7% | 22% |
| Last 6 months | −26.2% | 11% |
| Last 3 months | −19.0% | 19% |
The price is 52.9% below its all-time high of ₹4,624.55 (25 Oct 2024). Stocks more than 20% below their peak have their score halved, so 17 became 8.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Tube Investments of India Ltd: 0.4 × 22 + 0.4 × 11 + 0.2 × 19 = 17, halved to 8 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Tube Investments of India Ltd's management said in earlier quarters
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