Tube Investments Q2 FY27 Revenue Up 28% YoY

Event Type: The document contains the transcript of a post-results earnings conference call with analysts and investors following the Q2 FY2027 results announcement.
Event Date and Time: The call was held on 6th November 2026. The specific time and time zone were not disclosed in the provided transcript.
Event Purpose: The primary purpose was to discuss the financial results for the quarter ended September 30, 2026 (Q2 FY2027), and provide business updates across various divisions and subsidiaries.
Earnings Timing: The meeting was held after the earnings announcement, as the Board of Directors had approved the results on November 5th, 2026, and the call was on November 6th, 2026.
Management Participants: Key participants included Mr. M.A.M. Arunachalam (Executive Chairman), Mr. Mukesh Ahuja (Managing Director), Mr. A.N. Meyyappan (Chief Financial Officer), Mr. Jalaj Gupta (Managing Director – TICMPL), Mr. Govindarajan Narayanan (CEO & Whole-time Director, 3xper Innoventure Limited), and other divisional heads.
Availability of Materials: The transcript of the call was made available and uploaded to the company's website pursuant to SEBI LODR Regulations 30 & 46. The provided link is: https://tiindia.com/financial-information/.
UPSI Statement: The document is a disclosure of the call transcript itself. The management did not explicitly state that no Unpublished Price Sensitive Information (UPSI) would be shared during the call within this transcript.

Standalone Performance (Q2 FY27 vs. Q2 FY26):

Division-wise Standalone Performance (Q2 FY27 vs. Q2 FY26):

Engineering Division: Revenue ₹1,828 Cr (vs. ₹1,382 Cr); PBIT ₹171 Cr (vs. ₹164 Cr)
Metal Formed Products Division: Revenue ₹473 Cr (vs. ₹408 Cr); PBIT ₹49 Cr (vs. ₹44 Cr)
Mobility Division: Revenue ₹247 Cr (vs. ₹194 Cr); PBIT ₹8 Cr (vs. ₹4 Cr)
Others: Revenue ₹260 Cr (vs. ₹227 Cr); PBIT ₹20 Cr (vs. ₹18 Cr)

Consolidated Performance (Q2 FY27 vs. Q2 FY26):

Revenue: ₹7,330 Crores (vs. ₹5,523 Crores)
Profit (before share of profit of associate/JV, exceptional items, and tax): ₹643 Crores (vs. ₹459 Crores)

Subsidiary Performance (Q2 FY27 vs. Q2 FY26):

CG Power (56.27% stake): Revenue ₹3,802 Cr (vs. ₹2,923 Cr); PBT ₹559 Cr (vs. ₹388 Cr)
Shanthi Gears (73.16% stake): Revenue ₹128 Cr (vs. ₹132 Cr); PBT ₹20 Cr (vs. ₹29 Cr)

Key Business Updates:

Volume growth in standalone business was approximately 15% YoY, with the remainder of revenue growth attributed to raw material price pass-through.
Margins were impacted by rising commodity prices, with price recovery from customers expected to take 1-2 quarters.
Investments in subsidiaries during the period totaled ₹412 Crores (TICMPL: ~₹250 Cr, Shanthi Gears: ~₹78 Cr).
TICMPL (EV business) had a cash balance of ~₹350 Cr, sufficient for FY2027. The roadmap targets EBITDA breakeven for the truck business in Q4 FY27 and for two other businesses by Q4 FY28.
TICMPL Q2 FY27 Volume Data: Trucks: 311 (Prev Q: 86); Three-wheelers: 2,242 (Prev Q: 1,924); Small Commercial Vehicles: 483 (Prev Q: 347); Tractors: 50 (Prev Q: 22).
Market Share: TICMPL holds ~25% share in trucks, SCVs, and tractors (H1). Three-wheeler share is in low single digits.
Medical business (Lotus) grew over 20% YoY. Efforts are ongoing to build out a plastic medical devices business (IV cannula, canister).
CDMO business: The semi-commercial plant is commissioned and supplying customers. The clean room is commissioned, with validation batches nearing completion.
Capital Allocation: Internal target is to convert 85% of PAT to Free Cash Flow (excluding subsidiary investments).
Exports constitute ~15% of standalone revenue.

The document is a regulatory filing that includes the full transcript of the earnings conference call.
The announcement itself does not contain new financial data beyond what was presented in the results; it provides the management's commentary and Q&A from the call.
The filing includes a compliance statement regarding the upload of the transcript to the company website per SEBI LODR Regulations.