Tega Industries (TEGA) Q1 26/27 earnings summary

Executive summary

• Consolidated revenue reached INR 17.2 billion (Rs 17,234.42 million), driven by the integration of Molycop and robust legacy business performance.

• Adjusted EBITDA before one-time expenses was INR 2.6 billion (Rs 2,639 Mn), with a margin of 15%.

• One-time acquisition and integration expenses totaled INR 1.9 billion, impacting profitability.

• Healthy order book of INR 12.3 billion (Rs 12,313 Mn) provides strong revenue visibility.

• The Molycop acquisition was completed on June 1, 2026, with financials consolidated from that date.

Financial highlights

• Group total income for Q1 FY27 was Rs 17,409 Mn, up significantly year-over-year due to the Molycop acquisition.

• Adjusted EBITDA margin at the group level was 15%; Adjusted PAT margin was 3%.

• Tega (excluding Molycop) reported total income of Rs 4,575 Mn, Adjusted EBITDA of Rs 1,011 Mn, and Adjusted PAT of Rs 444 Mn.

• Molycop contributed INR 12.9 billion (Rs 12,916.40 million) in revenue and INR 1.6 billion in EBITDA before one-time expenses.

• One-time expenses of Rs 1,910 Mn and related tax impact of Rs 280 Mn were incurred for the Molycop transaction.

Outlook and guidance

• Long-term consumables revenue growth guidance maintained at 15% CAGR.

• Consolidated EBITDA margin expected to remain around 15% for the full year.

• Revenue ramp-up from cross-selling and integration synergies expected from Q3/Q4 FY2027.

• The Group now operates in three manufacturing segments post-acquisition: Consumables - Grinding Media, Consumables - Others, and Equipments.

• Industry fundamentals remain strong, with global gold and copper demand projected to grow at 2.2% and 4.8% CAGR, respectively, through FY30.