Tube Investments of India

“We are definitely targeting at least one business, which is our truck business, to be an EBITDA breakeven in Q4 this year and two businesses, to be, EBITDA break even, maybe in Q4 of next financial year and that is the roadmap.”

“We will be able to, let us say, at a consol level, to do double digit, higher double digit growth, and, on the revenue, as well as, top and bottom line, both.”

“So, the aspiration of that target still remains? We are not giving up on that particular target, and that target is not only for the M&HCV business.”

“So, in a market, let us say, for a truck business, which is today competed by some 11 to 12 players, we are already sitting at 26% market share, but we are targeting a market leadership, or at least to be in the top three across all the four businesses.”

“So, like, it will take some time to stabilize, but maybe let us say our perspective in the medical business will be higher double digit teen numbers, that will be the profitability level for the business.”

“Then it is a question of, first bringing the capacity utilization for the current facility, what we enjoyed, and based on the progress, we will be further investing in that facility because the opportunity is very large for that company.”

“If those materializes core business may also call for a little higher capex, which will not be counting, maybe let us 85% of PAT.”

“The semi-commercial plant has been already commissioned, and we have even supplied quantities to customer.”

“So, the clean room has also been commissioned, and right now, the validation batches in the intermediate block is nearing completion, then it will move into the clean room in the next three to four weeks.”

“Okay, Salil, the Q2 volume is not because of one particular order. There were multiple deals that, we are into, and it is contributed by multiple orders.”

“Engineering division, the revenue for the quarter was Rs.1,828 Crores, compared to Rs.1,382 Crores in the corresponding quarter of the previous year.”

“Profit before interest and Tax for the quarter was Rs.171 Crores against Rs.164 Crores in the corresponding quarter of the previous year.”

“Metal formed product revenue for the quarter was Rs.473 Crores, compared with Rs.408 Crores in the corresponding quarter of the previous year.”

“Profit before interest and Tax for the quarter was Rs.49 Crores against Rs.44 Crores in the corresponding quarter of the previous year.”

“Mobility revenue for the quarter was Rs.247 Crores, compared with Rs.194 Crores in the corresponding quarter of the previous year.”

“So, at a TI level, approximately, you can consider about 15% there is a volume growth, and rest is coming on account of the raw material price increases.”

“Three wheelers already, the penetration is upwards of 50% in Q2.”

“In H1, the industry was almost 170% of the last full financial year.”

“If it works, surely there is headroom available. A lot of headroom is available on the export market.”

“Likewise, in case of small commercial vehicles, it was almost the same, H1 volumes of the industry were the same as the last full financial year industry volume.”

“So that process is on and maybe, let us say, as of now, we are confident we will be able to recover fully, in the next one or two quarters.”

“So these three things have led to higher BOM cost increase across all the businesses, which is what has impacted the profitability for the four businesses.”

“we may be taking some better realization in form of price correction, or improving our realization deal by deal in some of the businesses.”

“Number two, and the second thing is, we have further intensified our efforts towards the BOM cost reduction across all the businesses.”

“So, Anupam, it is like that, once the entire recovery happens, so one or two quarters prior, ultimately we will be back to whatever profitability level we were maintaining it earlier, so that is how it will look like for a medium term perspective.”

“Free cash flow for the quarter was Rs.167 Crores.”

“TICMPL currently, they are having a cash of around Rs.350 Crores in hand.”

“See for current financial year, it is sufficient. There is no need for them to raise any funds and next year we have to just wait and see. We will get back to you by Q4 or so.”

“This entire Rs.250 Crores CCPS, what we have put it is, it has gone from TI only.”

“Earlier, they invested Rs.2,250 Crores of investments in TICMPL and post that they have not invested any money.”

“No, no change in the accounting impact, whatever we are considering in the March, the same thing continues here also, and there will not be any change in the return, whatever the investors are going to get.”

“Yeah, TICMPL is around, Rs.250 Crores, and, Rs.78 Crores, we have invested in Shanthi Gears.”

“As of now, let us say TI is fully funded and committed to TICMPL, but any things are there can be discussed offline.”

“We are hopeful by end of current quarter, which is Q3, the team will be in place.”

“now we are going to start the approvals for the regulatory process, which may take about a year from now”

“Cannot give you the exact timelines, but we are in the process of developing a higher battery truck on our existing products.”

“Actually, you have to consider, Rs.4 Crores of whatever, this, fair valuation whatever we are doing on a quarterly basis, we are just doing apart from whatever the business is doing, that thing you want to consider.”

“Yes, you are absolutely rightly right, it depends upon the valuation which you are going to get at the time of exit.”

“So, it is not a risk, it is a competition, which I think, in a way is good for the end customer, because the way I see it is not more number of players.”

“We have not seen, maybe, irrespective of the situation, the customers walking it out.”

“Standalone results for the quarter, revenue for Q2 was at Rs.2710 Crores, against Rs.2119 Crores in the same period previous year.”

“PBT was at Rs.253 Crores against Rs.250 Crores in the same period of previous year.”

“ROIC stood at 44% for the quarter, ended September 30, 2026, which is the same as the previous year same quarter.”

“At a consol level, TI's consolidated revenue for the quarter was Rs.7,330 Crores against Rs.5,523 Crores in the corresponding quarter of the previous year.”

“The profit (before share of profit of an associate and joint venture, exceptional items and tax) for the quarter was Rs.643 Crores against Rs.459 Crores in the corresponding quarter of the previous year.”