Tube Investments of India (TIINDIA) Q3 25/26 earnings summary

Executive summary

• Q3 FY26 standalone revenue reached INR 2,152 crore, up from INR 1,910 crore year-over-year.

• Standalone PBT before exceptional items grew 26% to INR 268 crore versus INR 212 crore last year.

• Board declared an interim dividend of INR 2 per share for FY26, to be paid within 30 days of declaration; record date set as 10th February 2026.

• Consolidated revenue for the quarter was INR 5,801 crore, up from INR 4,812 crore year-over-year.

• Board approved unaudited standalone and consolidated financial results for Q3 and nine months ended 31st December 2025.

Financial highlights

• Engineering business revenue rose to INR 1,438 crore (from INR 1,212 crore), PBIT at INR 196 crore (from INR 156 crore).

• Metal Form revenue was INR 408 crore (from INR 400 crore), PBIT at INR 46 crore (from INR 40 crore).

• Mobility business revenue increased to INR 183 crore (from INR 142 crore), PBIT at INR 4 crore (from a loss of INR 0.8 crore).

• CG Power posted revenue of INR 3,175 crore (from INR 2,516 crore), profit at INR 420 crore (from INR 335 crore).

• Shanthi Gears revenue was INR 117 crore (from INR 158 crore), profit at INR 23 crore (from INR 35 crore).

Outlook and guidance

• TI Clean Mobility, 3Xper, and TI Medical remain focus areas, though TI-2 initiatives are taking longer than expected.

• Management maintains conviction in EV and new business investments, expecting breakeven in heavy vehicles and three-wheelers within 12-18 months.

• No significant new TI-2 investments planned; focus remains on scaling current ventures.

• Engineering business expected to continue double-digit organic growth, driven by domestic demand.

• Interim dividend of INR 2 per share to be paid within 30 days of declaration; record date set as 10th February 2026.