Tube Investments of India (TIINDIA) Q3 24/25 earnings summary

Executive summary

• Q3 FY25 revenue was INR 1,910 crores, nearly flat compared to INR 1,898 crores in Q3 last year; profit before tax was INR 212 crores versus INR 210 crores year-over-year.

• Consolidated revenue for the quarter reached INR 4,812 crores, up from INR 4,197 crores year-over-year; consolidated profit was INR 427 crores versus INR 395 crores.

• Board approved unaudited standalone and consolidated financial results for Q3 and nine months ended 31 Dec 2024.

• Interim dividend of Rs. 2 per equity share declared for FY 2024-25, record date set as 7 Feb 2025.

• Achieved strong revenue growth across core business segments in Q3 FY25, with continued leadership in precision tubes, automotive components, and mobility solutions.

Financial highlights

• Engineering business revenue was INR 1,212 crores (down from INR 1,229 crores); PBIT at INR 156 crores (up from INR 150 crores).

• Metal Formed Products revenue was INR 400 crores (up from INR 392 crores); PBIT at INR 40 crores (down from INR 47 crores).

• Bicycle/Mobility business revenue was INR 142 crores (down from INR 147 crores); loss reduced to INR 1 crore from INR 8 crores.

• CG Power (subsidiary) Q3 revenue at INR 2,516 crores (up from INR 1,979 crores); PBT at INR 335 crores (vs INR 264 crores YoY).

• Shanthi Gears (subsidiary) Q3 revenue at INR 158 crores (up from INR 126 crores); PBT at INR 35 crores (up from INR 24 crores).

Outlook and guidance

• Full-fledged commercial sale of new small commercial vehicles and cargo variants to begin from April 2025.

• Focus remains on improving market share in EV business, with breakeven targeted for next financial year for two products.

• CapEx for FY25 expected to be around INR 300 crores for EV businesses.

• Fine blanking business expansion expected to enhance capability and product range, with project completion by FY 2025-26.

• Continued investment in R&D and new product launches, including India's first electric tractor and electric truck.