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Tube Investments of India Q2 FY27 results: net profit up 0.8% to ₹188.16 crore, revenue up 27.9%
Tube Investments of India Limited reported standalone Q2 FY27 revenue of ₹2,710 crore, up 27.9% from the year-ago quarter, while net profit rose 0.8% to ₹188.16 crore. EBITDA was ₹273.19 crore and EBITDA margin fell to 10.1% from 13.1% in Q2 FY26; the company also reported consolidated results, but standalone figures are used here.
Key points
- Standalone Q2 FY27 revenue was ₹2,710 crore, up 27.9% from ₹2,119 crore in Q2 FY26 and up 14.6% from ₹2,366 crore in Q1 FY27.
- Net profit was ₹188.16 crore in Q2 FY27, compared with ₹186.75 crore in Q2 FY26 and ₹158.62 crore in Q1 FY27.
- EBITDA was ₹273.19 crore, down 1.2% year on year but up 11.1% from the previous quarter; EBITDA margin was 10.1%.
- H1 FY27 revenue rose 23.1% to ₹5,076.69 crore, while profit after tax fell 2.3% to ₹346.78 crore.
- The Board approved a capital expenditure proposal not exceeding ₹83 crore for capacity enhancement in the Engineering division at Avadi.
How did Tube Investments of India perform in Q2 FY27?
Standalone revenue from operations for Q2 FY27 was ₹2,710 crore, up ₹591.53 crore or 27.9% from ₹2,119 crore in Q2 FY26. Against Q1 FY27, revenue rose ₹344.29 crore or 14.6% from ₹2,366 crore. Total income was ₹2,741.04 crore, up 28.0% year on year and 15.0% sequentially.
EBITDA was ₹273.19 crore, down ₹3.34 crore or 1.2% from ₹276.53 crore in Q2 FY26, but up ₹27.32 crore or 11.1% from ₹245.87 crore in Q1 FY27. The EBITDA margin was 10.1%, down 3.0 percentage points year on year and 0.3 percentage points sequentially.
Profit before tax was ₹253.16 crore, up 1.1% from ₹250.44 crore in Q2 FY26 and 19.0% from ₹212.74 crore in Q1 FY27. Net profit was ₹188.16 crore, up 0.8% year on year and 18.6% sequentially, while basic EPS was ₹9.72 compared with ₹9.65 and ₹8.19. The figures are standalone; the filing also approved consolidated results.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 2,710 | 2,366 | 2,119 | +27.9% | +14.6% |
| Other income | 30.55 | 17.41 | 22.91 | +33.3% | +75.5% |
| Total expenses | 2,488 | 2,171 | 1,891 | +31.5% | +14.6% |
| EBITDA | 273.19 | 245.87 | 276.53 | −1.2% | +11.1% |
| EBITDA margin | 10.1% | 10.4% | 13.1% | −3.0 pp | −0.3 pp |
| Profit before tax | 253.16 | 212.74 | 250.44 | +1.1% | +19.0% |
| Tax | 65 | 54.12 | 63.69 | +2.1% | +20.1% |
| Net profit | 188.16 | 158.62 | 186.75 | +0.8% | +18.6% |
| EPS (₹) | 9.72 | 8.19 | 9.65 | +0.7% | +18.7% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Tube Investments of India's costs and profit?
Total expenses were ₹2,488 crore in Q2 FY27, up ₹596.45 crore or 31.5% from ₹1,891 crore in Q2 FY26. Cost of materials was ₹1,714 crore, up ₹491.89 crore or 40.3%, while other expenses were ₹460.62 crore, up ₹112.40 crore or 32.3%. Employee cost rose ₹32.44 crore or 18.8% to ₹204.72 crore and depreciation rose ₹2.01 crore or 4.2% to ₹49.42 crore.
Finance costs fell ₹0.43 crore or 27.0% to ₹1.16 crore. Other income rose ₹7.64 crore or 33.3% to ₹30.55 crore, while tax expense increased ₹1.31 crore or 2.1% to ₹65 crore. There was no exceptional item in Q2 FY27, Q2 FY26 or Q1 FY27.
The filing did not state a reason for the year-on-year movement in profit. The figures show revenue growth of 27.9%, compared with a 31.5% rise in total expenses, while EBITDA margin declined from 13.1% to 10.1%. Net profit nevertheless rose ₹1.41 crore or 0.8% to ₹188.16 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 1,714 | 1,222 | +491.89 | +40.3% |
| Employee cost | 204.72 | 172.28 | +32.44 | +18.8% |
| Finance costs | 1.16 | 1.59 | −0.43 | −27.0% |
| Depreciation | 49.42 | 47.41 | +2.01 | +4.2% |
| Other expenses | 460.62 | 348.22 | +112.40 | +32.3% |
| Total expenses | 2,488 | 1,891 | +596.45 | +31.5% |
| Other income | 30.55 | 22.91 | +7.64 | +33.3% |
| Tax | 65 | 63.69 | +1.31 | +2.1% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, standalone revenue rose ₹951.13 crore or 23.1% to ₹5,076.69 crore from ₹4,125.56 crore in H1 FY26. Total income increased ₹952.74 crore or 22.8% to ₹5,124.65 crore, while profit before tax fell ₹6.61 crore or 1.4% to ₹465.90 crore.
Profit after tax for the first half was ₹346.78 crore, down ₹8.06 crore or 2.3% from ₹354.84 crore in H1 FY26. Basic EPS was ₹17.92, compared with ₹18.34 in the previous first half. The half-year figures are standalone and unaudited.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 5,077 | 4,126 | +23.1% |
| Profit before tax | 465.90 | 472.51 | −1.4% |
| Net profit | 346.78 | 354.84 | −2.3% |
| EPS (₹) | 17.92 | 18.34 | −2.3% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹8,424.45 crore against ₹7,492.43 crore at 31 March 2026, while total equity was ₹6,325.57 crore compared with ₹5,987.39 crore. The company reported no borrowings at either date. Cash was ₹35.57 crore, lower than ₹55.32 crore at 31 March 2026.
Inventories increased to ₹1,024.1 crore from ₹710.22 crore, trade receivables to ₹1,343.76 crore from ₹1,110.43 crore, and trade payables to ₹1,831.58 crore from ₹1,239.37 crore. In H1 FY27, operating cash flow was ₹479.26 crore, compared with ₹379.27 crore in H1 FY26; investing cash flow was negative ₹467.81 crore against negative ₹304.07 crore, and financing cash flow was negative ₹31.2 crore against negative ₹136.63 crore.
Capital expenditure in H1 FY27 was ₹158.46 crore, compared with ₹136.02 crore in H1 FY26. The Board separately approved a capital expenditure proposal not exceeding ₹83 crore for capacity enhancement in the Engineering division’s Cold Rolled Steel Strips facility at Avadi, to meet increased demand; the project is expected to be completed in FY 2027-28 and primarily funded through internal accrual.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 8,424 | 7,492 |
| Total equity | 6,326 | 5,987 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 35.57 | 55.32 |
| Inventories | 1,024 | 710.22 |
| Trade receivables | 1,344 | 1,110 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 479.26 | 379.27 |
| Cash from investing | −467.81 | −304.07 |
| Cash from financing | −31.20 | −136.63 |
| Capital expenditure | 158.46 | 136.02 |
Source: Company's results filing (XBRL).
How has Tube Investments of India done over the last 8 quarters?
Revenue rose year on year in each of the last six quarters. It reached ₹2,710.49 crore in Q2 FY27, the highest in the reported period, after ₹2,366.2 crore in Q1 FY27 and ₹2,118.96 crore in Q2 FY26. The lowest revenue in the series was ₹1,910.16 crore in Q3 FY25, and the direction remains upward.
Profit after tax reached ₹188.16 crore in Q2 FY27, above ₹158.62 crore in Q1 FY27 and ₹186.75 crore in Q2 FY26. The highest profit in the series was ₹813.65 crore in Q4 FY25, while the lowest was ₹158.62 crore in Q1 FY27. EBITDA margin was 10.1% in Q2 FY27, down from 10.4% in Q1 FY27; its peak was 14.4% in Q3 FY26 and its low was 10.1% in Q2 FY27.
Which businesses drove the quarter?
Engineering revenue was ₹1,828.11 crore, up 32.3% from ₹1,381.61 crore in Q2 FY26, with EBIT of ₹171.19 crore compared with ₹164.27 crore. Its EBIT margin was 9.4%. Metal Formed Products recorded revenue of ₹472.77 crore, up 15.9% from ₹407.86 crore, and EBIT of ₹49.37 crore compared with ₹44.38 crore; EBIT margin was 10.4%.
Mobility revenue was ₹247.04 crore, up 27.5% from ₹193.76 crore, while EBIT was ₹7.97 crore compared with ₹4.26 crore; EBIT margin was 3.2%. Others reported revenue of ₹259.82 crore, up 14.5% from ₹226.87 crore, and EBIT of ₹20.35 crore compared with ₹18.38 crore, with an EBIT margin of 7.8%. Un-allocable revenue was ₹2.09 crore, down 52.0% from ₹4.35 crore, with no EBIT reported.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Engineering | 1,828 | +32.3% | 171.19 | 9.4% |
| Metal Formed Products | 472.77 | +15.9% | 49.37 | 10.4% |
| Mobility | 247.04 | +27.5% | 7.97 | 3.2% |
| Others | 259.82 | +14.5% | 20.35 | 7.8% |
| Un-allocable | 2.09 | −52.0% | 0 | 0.0% |
| Inter segment | 0 | 0 |
Source: Company's results filing (XBRL segment data).
How did Tube Investments of India shares react?
The filing appeared in the market on 5 November 2026. Tube Investments of India was up 0.4% after five minutes, 0.6% after 15 minutes and 0.8% after 30 minutes from the price when the filing appeared. On the reaction day, the stock was up 1.3% from its pre-results close of ₹2,270; no next-day or five-day move is available.
The Auto Components & Equipments sector’s other stocks recorded a median reaction-day move of 1.2%, leaving Tube Investments of India 0.2 percentage points ahead of the industry median. Earlier results-day moves included 1.3% on 10 July 2026, 5.5% on 4 February 2026 and 1.9% lower on 1 August 2025.
| After the filing | Stock | Auto Components & Equipments median |
|---|---|---|
| 5 minutes | +0.4% | |
| 15 minutes | +0.6% | |
| 30 minutes | +0.8% | |
| Reaction day | +1.3% | +1.2% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 10 July 2026 | −1.4% |
| 13 May 2026 | −1.0% |
| 4 February 2026 | +5.5% |
| 5 November 2025 | −0.3% |
| 1 August 2025 | −1.9% |
| 15 May 2025 | −4.3% |
| 3 February 2025 | −7.4% |
| 4 November 2024 | −3.4% |
Source: MarketPing price-reaction measurement.
How did other Auto Components & Equipments companies do?
Among 51 other Auto Components & Equipments companies compared for revenue growth, the median growth was 33.6%. Twenty-two peers grew slower than Tube Investments of India and 29 grew faster. Among 52 peers compared for profit, 40 reported higher profit.
| Tube Investments of India revenue growth (YoY) | +27.9% |
|---|---|
| Median of 51 other Auto Components & Equipments companies | +33.6% |
| Companies with slower revenue growth than Tube Investments of India | 22 of 51 |
| Companies with faster revenue growth than Tube Investments of India | 29 of 51 |
| Companies whose net profit rose | 40 of 52 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Tube Investments of India's revenue in Q2 FY27?
Revenue from operations was ₹2,710 crore, up 27.9% from ₹2,119 crore in Q2 FY26 (standalone).
Did Tube Investments of India make a profit in Q2 FY27?
Yes. Net profit was ₹188.16 crore, against a net profit of ₹186.75 crore in Q2 FY26.
What was Tube Investments of India's EPS in Q2 FY27?
Basic earnings per share were ₹9.72, against ₹9.65 in Q2 FY26.
How did Tube Investments of India shares react to the Q2 FY27 results?
On the reaction day the stock moved +1.3% from the previous close; the median Auto Components & Equipments stock moved +1.2%.
When did Tube Investments of India announce its Q2 FY27 results?
On 5 November 2026, in a filing to the BSE.
Sources
- Board Meeting Outcome for Outcome Of Board Meeting (BSE, 5 November 2026) · PDF
- Results (BSE, 5 November 2026) · PDF
- Capacity Enhancement (BSE, 5 November 2026) · PDF
- Announcement under Regulation 30 (LODR)-Press Release / Media Release (BSE, 5 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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