Q1 2026 Tube Investments of India Ltd Earnings Call Transcript
Key Points
- Tube Investments of India Ltd (NSE:TIINDIA) reported a revenue increase in Q1 FY26 to INR2,007 crore from INR1,960 crore in the same period the previous year.
- The company's EBITDA rose to INR222 crore compared to INR208 crore in the previous year, indicating improved operational efficiency.
- The Mobility division showed significant improvement with revenue increasing to INR198 crore from INR181 crore, and profit before interest and tax rising to INR7 crore from INR2 crore.
- The company is actively working on indigenization and cost reduction strategies to improve gross margins in the electric vehicle segment.
- The Engineering division experienced a volume growth of around 10%, and the Metal Formed division saw a growth of 3% to 4%.
- The electric vehicle division is facing increased competition, particularly in the 3-wheeler segment, impacting market share and volumes.
- Operational breakeven for the 3-wheeler passenger segment and HCV is unlikely to be achieved this year due to lower-than-expected volumes.
- The company is experiencing delays in passing on steel price increases to customers, affecting current margins.
- Export growth is uncertain due to macroeconomic factors, particularly in the US market, which constitutes about 4% of the company's exposure.
- The company faces challenges in expanding its distribution network quickly enough to capitalize on product differentiation in the electric vehicle market.
And welcome to the Tube Investments Q1 FY26 earnings conference call hosted by IIFL Capital Services Limited.
(Operator Instructions) Please note this conference is being recorded.
I now hand the conference over to Mr. Anupam Gupta from IIFL Capital. Over to you, sir.
Yeah. Thanks, Inba, and welcome, everyone, to the first quarter FY26 results conference call for Tube Investments of India. From the management, we have Mr. M A M Arunachalam, Executive Chairman for TI India; Mr. Vellayan Subbiah, Vice Chairman; Mr. Mukesh Ahuja, Managing Director for TI; Mr. Meyyappan, Chief Financial Officer; Mr. Shivdeep Singh Jammu, represented the Division Head for TPI; Mr. Sivakumar, Division Head for Metal Form Products business; Mr. Rajagopal, adoption Head for the Cycles business.
We have Mr. Jalaj Gupta, CEO for TICMPL; and Mr. Govindarajan, CEO of 3xper Innoventure.
To start off, I'll hand it over to the management for the opening remarks. Post which, we'll have a Q&A. Over to you, sir.
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