Tega Industries (TEGA) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 consolidated operating revenue was INR 3,716 million, up 6% year-over-year, with EBITDA at INR 725 million and EBITDA margin at 20%.

• Equipment business revenue surged 78% year-over-year to INR 643 million, while consumables contributed 82% of group revenue.

• Order book as of June 30, 2025, stands at INR 10,053 million, with INR 6,103 million executable within 12 months, providing strong growth visibility.

• Latin America, especially Chile, is a key growth driver, with ongoing investments in capacity and talent.

• Unaudited standalone and consolidated financial results for the quarter ended June 30, 2025, were reviewed and approved by the Board and Audit Committee, with unmodified auditor reports issued.

Financial highlights

• Q1 FY26 group revenue: INR 3,716 million vs. INR 3,516 million in Q1 FY25.

• Q1 FY26 EBITDA: INR 725 million vs. INR 771 million in Q1 FY25; EBITDA margin declined to 19% from 22% YoY.

• Group gross margin maintained at 59% despite raw material volatility and higher equipment share.

• PAT for Q1 FY26 was INR 353 million, with PAT margin stable at 10% YoY.

• EPS for Q1 FY26 was INR 5.3 compared to INR 5.5 in Q1 FY25.

Outlook and guidance

• FY26 earnings guidance remains on track, with management confident in maintaining 15% CAGR at group level and 25% for equipment.

• EBITDA margin guidance for consumables at 22–23% and equipment at 12–13%, with blended margins of 21–22%.

• Growth in copper and gold demand expected to drive mining sector expansion, supporting long-term business prospects.

• H2 is expected to be stronger, with Q1 typically the lowest quarter.