Tube Investments of India Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Industrial Systems: 29.5% • Engineering: 23.0% • Power Systems: 22.5%
AI Sector View
AI GENERATEDAutomobile and Auto Components
Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.
PROS
- Company has delivered good profit growth of 31.3% CAGR over last 5 years
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 30.2%
- Company has a good return on equity (ROE) track record: 3 Years ROE 21.1%
- Company has consistently been profitable over the last 5 years
- Company has delivered good sales growth of 30.3% CAGR over last 5 years
CONS
- Free cash flow has been persistently negative
- Recurring exceptional / one-off items are inflating headline profit
- Stock is trading at 6.3x its book value
- Growth is decelerating - 3Y profit CAGR (-1.2%) trails the 5Y trend (31.3%)
- Though reporting repeated profits, the company pays out little dividend (10.6%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| MOTHERSON | 164.30 | 39.59 | 173409.49 | 0.37 | 1075.66 | 77.48 | 35243.77 | 17.70 | 13.63 | 8.86 |
| BOSCHLTD | 48388.75 | 60.40 | 142727.94 | 0.56 | 706.10 | -36.74 | 5841.90 | 22.00 | 25.60 | 14.08 |
| UNOMINDA | 1202.40 | 57.75 | 69434.66 | 0.22 | 315.51 | 2.10 | 5556.85 | 23.79 | 20.74 | 11.14 |
| TIINDIA | 2607.25 | 83.21 | 50469.14 | 0.13 | 293.96 | -3.04 | 6215.33 | 20.20 | 27.33 | 8.81 |
| SONACOMS | 788.95 | 70.76 | 49240.61 | 0.43 | 178.51 | 46.67 | 1301.20 | 52.38 | 14.75 | 22.55 |
| ENDURANCE | 2696.75 | 39.11 | 37933.25 | 0.43 | 2445.20 | 980.27 | 43148.90 | 1200.10 | 18.33 | 12.42 |
| CRAFTSMAN | 11663.75 | 65.61 | 30505.88 | 0.10 | 150.55 | 116.31 | 2431.58 | 36.30 | 14.65 | 15.81 |
| ZFCVINDIA | 2548.90 | 58.10 | 29007.88 | 0.03 | 1044.78 | 753.75 | 10661.76 | 992.89 | 20.23 | 12.93 |
| SANSERA | 4130.20 | 73.97 | 25773.92 | 0.10 | 87.36 | 38.71 | 1021.26 | 33.27 | 14.29 | 19.18 |
| MSUMI | 36.30 | 38.37 | 24072.93 | 1.60 | 1453.20 | 915.51 | 34072.60 | 1273.43 | 43.72 | 7.58 |
| GABRIEL | 1345.45 | 80.11 | 23845.41 | 0.37 | 1081.26 | 925.35 | 14256.83 | 1055.00 | 26.37 | 11.71 |
| BELRISE | 227.95 | 43.50 | 22046.23 | 0.24 | 121.67 | 8.94 | 2546.47 | 12.57 | 14.65 | 11.52 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,767 | 4,169 | 4,053 | 4,345 | 4,434 | 4,783 | 4,682 | 5,017 | 5,171 | 5,380 | 5,652 | 6,019 | 6,215 | |
| 3,431 | 3,743 | 3,728 | 4,039 | 4,046 | 4,434 | 4,321 | 4,813 | 4,763 | 4,978 | 5,216 | 5,632 | 5,866 | |
| Operating Profit | 337 | 426 | 325 | 306 | 387 | 348 | 360 | 204 | 408 | 402 | 435 | 387 | 349 |
| OPM % | 8.94% | 10.21% | 8.02% | 7.05% | 8.73% | 7.28% | 7.70% | 4.07% | 7.89% | 7.47% | 7.70% | 6.43% | 5.61% |
| 35 | 81 | 58 | 77 | 62 | 71 | 77 | 150 | 72 | 93 | 49 | 106 | 112 | |
| Interest | 11 | 13 | 13 | 15 | 16 | 16 | 15 | 16 | 17 | 14 | 15 | 16 | 16 |
| Depreciation | 108 | 112 | 119 | 115 | 110 | 119 | 127 | 137 | 152 | 164 | 173 | 175 | 183 |
| Profit before Tax | 383 | 518 | 395 | 398 | 467 | 426 | 427 | 334 | 449 | 459 | 445 | 498 | 461 |
| Tax % | 27.56% | 28.86% | 29.90% | 31.07% | 32.18% | 29.75% | 34.31% | 52.58% | 32.47% | 34.18% | 37.25% | 53.39% | 36.20% |
| Net Profit | 0 | 0 | 0 | 0 | 314 | 299 | 280 | 158 | 303 | 302 | 279 | 234 | 294 |
| 10.94 | 14.44 | 11.04 | 9.89 | 11.73 | 10.69 | 10.01 | 2.41 | 10.28 | 9.65 | 8.57 | 4.36 | 8.71 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 4,493 | 5,000 | 5,773 | 4,750 | 6,083 | 12,447 | 14,964 | 16,890 | 19,465 | 22,847 | 23,266 | |
| 4,087 | 4,613 | 5,226 | 4,169 | 5,443 | 10,995 | 13,062 | 14,921 | 17,596 | 20,572 | 21,693 | |
| Operating Profit | 406 | 387 | 547 | 582 | 641 | 1,452 | 1,902 | 1,970 | 1,868 | 2,275 | 1,573 |
| OPM % | 9.04% | 7.74% | 9.48% | 12.25% | 10.53% | 11.67% | 12.71% | 11.66% | 9.60% | 9.96% | 6.76% |
| 48 | 55 | 57 | 40 | 26 | 125 | 152 | 252 | 360 | 319 | 360 | |
| Interest | 77 | 62 | 56 | 34 | 52 | 99 | 58 | 73 | 83 | 79 | 62 |
| Depreciation | 149 | 154 | 162 | 185 | 251 | 347 | 396 | 454 | 492 | 664 | 695 |
| Profit before Tax | 221 | 214 | 378 | 403 | 364 | 1,128 | 1,581 | 1,694 | 1,653 | 1,851 | 1,863 |
| Tax % | 21.14% | 27.27% | 33.58% | 22.31% | 21.61% | 14.25% | 26.73% | 29.34% | 36.23% | 39.68% | 40.55% |
| Net Profit | 174 | 156 | 251 | 313 | 286 | 968 | 1,158 | 1,197 | 1,054 | 1,116 | 1,107 |
| EPS | 8.94 | 7.86 | 12.85 | 16.28 | 14.51 | 40.99 | 49.39 | 62.35 | 34.82 | 32.89 | — |
| Dividend Payout % | 22.36% | 22.26% | 19.52% | 21.47% | 24.52% | 8.78% | 7.07% | 5.61% | 10.05% | 10.64% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 30%
- 3 Years:
- 15%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 18%
- 3 Years:
- -13%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 14%
- 3 Years:
- -8%
- 1 Year:
- -19%
RETURN ON EQUITY
- 10 Years:
- 23%
- 5 Years:
- 26%
- 3 Years:
- 21%
- Last Year:
- 17%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 |
| Minority Interest | 92 | 100 | 96 | 73 | 383 | 654 | 1,005 | 1,618 | 2,157 | 6,451 |
| 1,169 | 1,248 | 1,449 | 1,706 | 2,284 | 3,044 | 3,916 | 5,068 | 5,495 | 7,704 | |
| 726 | 527 | 519 | 307 | 1,381 | 774 | 1,117 | 2,090 | 3,074 | 712 | |
| Trade Payables | 775 | 962 | 929 | 696 | 2,230 | 2,343 | 2,300 | 2,724 | 3,131 | 4,035 |
| 354 | 455 | 337 | 280 | 1,841 | 1,533 | 1,595 | 1,511 | 2,003 | 2,504 | |
| Total Liabilities | 3,135 | 3,312 | 3,349 | 3,080 | 8,140 | 8,368 | 9,953 | 13,031 | 15,879 | 21,425 |
| 1,294 | 1,346 | 1,417 | 1,502 | 3,413 | 3,313 | 3,576 | 4,381 | 5,198 | 6,220 | |
| Capital Work in Progress | 34 | 90 | 69 | 58 | 138 | 117 | 178 | 348 | 733 | 806 |
| 202 | 134 | 132 | 186 | 369 | 542 | 729 | 1,370 | 931 | 1,024 | |
| 731 | 761 | 815 | 559 | 1,106 | 1,327 | 1,353 | 1,788 | 2,224 | 2,853 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,733 | 3,305 | 4,367 | |
| Cash & Bank | 24 | 32 | 56 | 38 | 617 | 573 | 945 | 1,227 | 2,035 | 1,469 |
| 850 | 949 | 860 | 737 | 2,496 | 2,497 | 3,172 | 1,185 | 1,454 | 4,686 | |
| Total Assets | 3,135 | 3,312 | 3,349 | 3,080 | 8,140 | 8,368 | 9,953 | 13,031 | 15,879 | 21,425 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 422 | 478 | 612 | 718 | 356 | 989 | 1,620 | 1,312 | 1,185 | 1,161 | |
| Cash from Investing | -263 | -190 | -196 | -246 | -345 | -79 | -871 | -2,289 | -1,587 | -3,953 |
| Cash from Financing | -685 | -291 | -280 | -284 | 304 | -921 | -75 | 646 | 522 | 2,668 |
| -565 | -72 | 17 | 66 | 216 | -104 | 440 | -338 | 120 | -124 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-03 - Tube Investments of India Limited has informed the Exchange about Schedule of meet
2026-08-21 - Tube Investments of India Limited has informed the Exchange regarding 'Investor Presentation for the quarter ended 30th June 2026.'.
2026-08-21 - Tube Investments of India Limited has informed the Exchange about Acquisition
2026-08-20 - Tube Investments of India Limited has informed the Exchange about Transcript
2026-08-17 - Tube Investments of India Limited has informed the Exchange about Link of Recording
2026-08-14 - Tube Investments of India Limited has informed the Exchange about ESG Ratings given by CRISIL ESG Ratings & Analytics Limited
2026-08-14 - Tube Investments of India Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 14, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-14 - Tube Investments of India Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 14, 2026
2026-08-14 - Tube Investments of India Limited has informed the Exchange regarding a press release dated August 14, 2026, titled "Press Release - Q1 FY 2026-27 Financial Results".
News
Recent coverage and analyst commentary for TIINDIA
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