Chennai, February 3, 2025 – Tube Investments of India Limited (NSE: TIINDIA, BSE: 540762) has announced its financial results for the third quarter (Q3 FY25) ended December 31, 2024, showcasing steady growth in revenue and profitability. The company’s board has also declared an interim dividend of ₹2 per share for FY25.
Key Financial Highlights (Standalone)
(₹ in Crores)
Metric
Q3 FY25
Q3 FY24
YoY Change
Revenue
1,910
1,898
+0.6%
Profit Before Tax (PBT)
212
210
+0.95%
Return on Invested Capital (ROIC)
43%
54%
-
Free Cash Flow
70
-
-
Revenue increased marginally to ₹1,910 Cr from ₹1,898 Cr in the previous year’s quarter.
Profit before tax (PBT) stood at ₹212 Cr, showing a slight increase from ₹210 Cr.
ROIC was reported at 43%, lower than the 54% recorded in Q3 FY24.
Free cash flow for the quarter stood at ₹70 Cr.
Segment-Wise Performance (Standalone)
(₹ in Crores)
Segment
Revenue (Q3 FY25)
Revenue (Q3 FY24)
Profit Before Tax (PBT) Q3 FY25
PBT Q3 FY24
Engineering
1,212
1,229
156
153
Metal Formed Products
400
392
40
47
Mobility
142
147
(0.82)
(8)
Others
252
219
11
14
Engineering revenue slightly declined to ₹1,212 Cr, while PBT increased to ₹156 Cr.
Metal Formed Products grew marginally to ₹400 Cr, but profitability fell from ₹47 Cr to ₹40 Cr.
Mobility segment narrowed its loss to ₹0.82 Cr, an improvement from ₹8 Cr in Q3 FY24.
Others saw notable revenue growth to ₹252 Cr, though PBT fell to ₹11 Cr.
Key Financial Highlights (Consolidated)
(₹ in Crores)
Metric
Q3 FY25
Q3 FY24
YoY Change
Revenue
4,812
4,197
+14.7%
Profit Before Tax (PBT)
427
395
+8.1%
Consolidated revenue surged 14.7% YoY to ₹4,812 Cr, led by growth across businesses.
Consolidated PBT grew 8.1% to ₹427 Cr.
Subsidiary Performance
CG Power & Industrial Solutions Ltd.
Revenue: ₹2,516 Cr (vs. ₹1,979 Cr YoY)
Profit Before Tax (PBT): ₹335 Cr (vs. ₹264 Cr YoY)
Shanthi Gears Ltd.
Revenue: ₹158 Cr (vs. ₹126 Cr YoY)
Profit Before Tax (PBT): ₹35 Cr (vs. ₹24 Cr YoY).
Corporate Announcements
Interim Dividend Declaration
Declared ₹2 per share for FY25.
Record Date: February 7, 2025
Payment Date: On or before February 28, 2025.
Capital Investment in Fine Blanking Business
₹170 Cr investment in a greenfield facility in Western India and expansion in Southern India.
Funding Source: Internal accruals.
Completion Timeline: FY26.
Acquisitions and Investments
Acquired 67% stake in Kcaltech System India Pvt Ltd for ₹62 Cr (deal closed on January 31, 2025).
Invested ₹50 Cr in Series A Preference Shares of 3xper Innoventure Ltd.
Invested ₹18 Cr in TI Medical Pvt Ltd along with other investors.
Management Commentary
Mukesh Ahuja, Managing Director, Tube Investments of India, stated: "Our diversified business segments have contributed to steady growth despite market challenges. We continue to focus on expanding our fine blanking capabilities and strategic acquisitions, reinforcing our leadership in key sectors."
Outlook
Expansion: Ongoing investment in fine blanking and semiconductor businesses.
Growth Drivers: Strong subsidiary performance (CG Power & Shanthi Gears) and mobility segment improvements.
Challenges: Lower ROIC and cost pressures in select segments.
Conclusion
Tube Investments of India Ltd. delivered stable financial results in Q3 FY25, supported by robust subsidiary performance and strategic acquisitions. While revenue and PBT showed moderate growth, the company’s ₹170 Cr capex plan and acquisitions signal strong long-term ambitions.