Date: 29th May, 2026

Financial Results Summary

TIL Limited reported its Q4FY26 and full year FY26 standalone financial results. The company showed a strong recovery in machine sales and strategic expansion into clean energy through acquisition.

Quarterly Financial Performance (Standalone)

| Particulars | Q4 FY26 | Q4 FY25 | Q3 FY26 | 12M FY26 | 12M FY25 |

| Total Revenue (₹ Cr.) | 109.43 | 110.87 | 75.77 | 337.36 | 343.07 |

| EBITDA (₹ Cr.) | 10.38 | 21.47 | 3.76 | 18.46 | 40.24 |

| EBITDA% | 9.5% | 19.4% | 5.0% | 5.47% | 11.73% |

| Settlement of Dispute (One-time Expenses, ₹ Cr.) | 5.58 | - | - | 5.58 | - |

| NET EBITDA (₹ Cr.) | 4.80 | 21.47 | 3.76 | 12.88 | 40.24 |

| NET EBITDA% | 4.4% | 19.4% | 5.0% | 3.82% | 11.73% |

| PBT (₹ Cr.) | -11.85 | 12.95 | -9.36 | -40.73 | 4.19 |

| PAT (₹ Cr.) | -10.08 | 9.76 | -6.84 | -30.86 | 2.90 |

Full Year FY26 Performance Analysis

Revenue Trends:

  • Overall revenue for FY26 stood at ₹337.36 Cr, a nominal decrease from ₹343.07 Cr in FY25
  • The reduction was driven primarily by a substantial decline in other income from ₹27.79 Cr in FY24-25 to ₹14.11 Cr in FY25-26 (49% reduction)
  • Core operations remained relatively strong with machine sales growing 4% year-on-year to ₹265.33 Cr
  • Operational Income for FY26 grew to ₹323.25 Cr against ₹315.28 Cr for FY25

Margin Analysis:

  • EBITDA margin showed sequential expansion across consecutive quarters
  • Raw material cost ratio improved from 64.5% in FY24-25 to 63.9% in FY25-26
  • Employee costs and operational costs saw a slight increase due to investment in skilled manpower

Cost Structure and One-time Items:

  • The company incurred one-time Settlement of Dispute expenses of ₹5.58 Cr in Q4FY26
  • Financing costs, currency pressure, and rising freight costs impacted profitability

Operational Highlights and Order Book

Major Contracts Won:

  • ₹66.75 Cr CONCOR contract for 25 loaded ReachStackers
  • Approximately ₹110 Cr in orders from Indian Army and Indian Air Force for approximately 170 military cranes
  • ₹30+ Cr Operation and Maintenance contract from CONCOR, marking TIL's re-entry into high-margin services segment

Product Development:

  • Three newly commercialised indigenous products (pick and carry, truck crane, and rough terrain equipment) moved from EXCON 2025 market debut to active field trials and customer engagements during Q4
  • Enquiry conversions sustaining into FY27

Order Pipeline:

  • TIL enters FY27 with a total order book of approximately ₹274 Cr

Strategic Initiatives

Clean Energy Expansion:

  • Board approved majority stake acquisition in Tulip Compression Private Limited (TCPL)
  • Acquisition concluded in May 2026
  • Provides access to LNG and Hydrogen powerpacks
  • Opens specialized manufacturing markets across CNG, LNG, and Hydrogen equipment, large-scale cryogenic LNG storage, and oil and gas process vessels

Legacy Issue Resolution:

  • Resolved legacy taxation-related disputes on account of entry tax through Settlement of Disputes (SOD)
  • Extinguished contingent liability of ₹23.12 Cr
  • Resolved VAT/CST related disputes, reducing another contingent liability of ₹21.68 Cr

Management Commentary

Mr Alok Kumar Tripathi, President & Whole Time Director:

"TIL is gradually becoming a defence mobility manufacturer, a lifecycle infrastructure partner, a clean-energy engineering platform and an indigenous heavy-equipment company. In FY25-26, TIL has demonstrated recovery in core machine sales, operational performance and shown financial resilience in H2 and Q4 despite four major challenges. The first two were global geopolitical uncertainties and supply-chain disruptions that mellowed our topline, and the latter were a weakening rupee and rising freight costs that directly impacted material cost and took a bite out of our bottom line. Despite this, the company has maintained a positive EBITDA despite substantial financing costs, lower other income, and one-time SOD expenses."

Mr. Pinaki Niyogy, CTO & CGO:

"TIL is evolving from a cyclical equipment company into a broader engineering platform. Our new indigenous products have been well received across retail and defence verticals and we will soon commercialise them along with a few newer platforms. We are also extending our heavy engineering capability into India's clean energy and gas infrastructure sector with Tulip Compression joining the TIL family. TIL's core strength remains its indigenous engineering capability, which offers a powerful import substitution opportunity and will help build a truly Atmanirbhar Bharat."

Outlook

TIL enters FY27 as a more diversified, capable, and forward-looking organisation with a ₹274 Cr order pipeline, a strengthened net worth, new indigenous products in various stages of development and a re-entry into high-value recurring O&M revenues. The company is positioning itself as an Indian industrial engineering platform aligned to three national priorities: infrastructure, defence indigenisation and energy transition.