Tega Industries (TEGA) Q2 25/26 earnings summary

Executive summary

• Q2 FY26 consolidated revenue reached INR 4,211 million, up 15% year-over-year, with EBITDA at INR 849 million (20% margin) and PAT surging 523% to INR 449 million; H1 FY26 revenue was INR 7,927 million, up 10%, with EBITDA at INR 1,561 million and PAT at INR 803 million.

• Unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2025 were reviewed and approved by the Board and Audit Committee, with an unmodified auditor's review report issued.

• Order book as of September 30, 2025, stands at INR 11,556 million, with INR 7,306 million executable in the next 12 months, providing strong revenue visibility.

Financial highlights

• Q2 FY26 revenue grew 15% year-over-year to INR 4,211 million; EBITDA margin improved to 20% from 13% last year; gross margin for Q2 improved to 59% from 53% year-over-year.

• H1 FY26 revenue was INR 7,927 million, up 10% year-over-year; EBITDA margin rose to 20% from 17% last year.

• Q2 FY26 PAT was INR 449 million, up 523% year-over-year; EPS for Q2 FY26 was INR 6.75, up from INR 1.08 in Q2 FY25.

• Order book as of 30th September 2025 stood at INR 11,556 million, with INR 7,306 million executable within one year.

• Standalone and consolidated net profit and EPS improved both sequentially and year-over-year.

Outlook and guidance

• Management reaffirmed full-year guidance: consumer business to grow ~15%, equipment business to grow 25%+; H2 is expected to be stronger than H1, supporting achievement of annual growth and margin targets.

• Equipment business growth is expected to exceed initial 25% guidance, though not at the Q2 run rate.

• Molycop acquisition expected to close by December 2025 or January 2026, with consolidation from Q4 FY26.

• The company continues to focus on manufacturing and distribution of specialized consumable products for the global mineral beneficiation, mining, and bulk solids handling industry.