Declared Dividend • May 15
Final dividend of ₹1.50 announced Dividend of ₹1.50 is the same as last year. Ex-date: 7th August 2026 Payment date: 12th September 2026 Dividend yield will be 0.1%, which is lower than the industry average of 0.6%. Reported Earnings • May 14
Full year 2026 earnings released: EPS: ₹32.81 (vs ₹34.83 in FY 2025) Full year 2026 results: EPS: ₹32.81 (down from ₹34.83 in FY 2025). Revenue: ₹222.2b (up 17% from FY 2025). Net income: ₹6.35b (down 5.8% from FY 2025). Profit margin: 2.9% (down from 3.6% in FY 2025). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 20% p.a. on average during the next 3 years, while revenues in the Auto Components industry in India are expected to grow by 11%. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • May 13
Tube Investments of India Limited, Annual General Meeting, Aug 14, 2026 Tube Investments of India Limited, Annual General Meeting, Aug 14, 2026. Announcement • May 02
Tube Investments of India Limited to Report Q4, 2026 Results on May 13, 2026 Tube Investments of India Limited announced that they will report Q4, 2026 results on May 13, 2026 Price Target Changed • Feb 28
Price target decreased by 10% to ₹3,175 Down from ₹3,537, the current price target is an average from 6 analysts. New target price is 15% above last closing price of ₹2,753. Stock is up 12% over the past year. The company is forecast to post earnings per share of ₹45.70 for next year compared to ₹34.83 last year. Announcement • Feb 07
Tube Investments of India Limited (NSEI:TIINDIA) agreed to acquire an unknown minority stake in Orange Koi Private Limited. Tube Investments of India Limited (NSEI:TIINDIA) agreed to acquire an unknown minority stake in Orange Koi Private Limited on February 6, 2026. Tube Investments of India announced the execution of definitive agreements for acquisition of 87% equity stake, representing 1,864,778 shares in Orange Koi through a combination of primary infusion and secondary acquisition, in one or more tranches, for a total sum of up to INR 730 million.
For the period ending March 31, 2025, Orange Koi Private Limited reported total revenue of INR 37.6 million.
The initial acquisition is expected to be completed on or before 28th February 2026, subject to satisfactory completion of the Conditions Precedent as contained in the Securities Subscription and Purchase Agreement executed between the parties. Declared Dividend • Feb 06
Dividend of ₹2.00 announced Dividend of ₹2.00 is the same as last year. Ex-date: 10th February 2026 Payment date: 6th March 2026 Dividend yield will be 0.2%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is covered by earnings (11% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 4.3% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 63% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Feb 05
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.8% Last year net profit margin: 4.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 05
Third quarter 2026 earnings released: EPS: ₹8.57 (vs ₹10.01 in 3Q 2025) Third quarter 2026 results: EPS: ₹8.57 (down from ₹10.01 in 3Q 2025). Revenue: ₹56.5b (up 21% from 3Q 2025). Net income: ₹1.66b (down 14% from 3Q 2025). Profit margin: 2.9% (down from 4.1% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 14% p.a. on average during the next 3 years, while revenues in the Auto Components industry in India are expected to grow by 10%. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Jan 22
Tube Investments of India Limited to Report Q3, 2026 Results on Feb 04, 2026 Tube Investments of India Limited announced that they will report Q3, 2026 results on Feb 04, 2026 Reported Earnings • Nov 06
Second quarter 2026 earnings released: EPS: ₹9.65 (vs ₹10.69 in 2Q 2025) Second quarter 2026 results: EPS: ₹9.65 (down from ₹10.69 in 2Q 2025). Revenue: ₹56.2b (up 17% from 2Q 2025). Net income: ₹1.87b (down 9.7% from 2Q 2025). Profit margin: 3.3% (down from 4.3% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 18% p.a. on average during the next 3 years, while revenues in the Auto Components industry in India are expected to grow by 9.2%. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Oct 24
Tube Investments of India Limited to Report Q2, 2026 Results on Nov 05, 2025 Tube Investments of India Limited announced that they will report Q2, 2026 results on Nov 05, 2025 Announcement • Aug 07
Tube Investments of India Limited Approves the Appointment of Shelina Pranav Parikh as an Independent Director Tube Investments of India Limited at its Annual General Meeting, held on August 1, 2025, approved the Appointment of Ms. Shelina Pranav Parikh (DIN: 00468199) as an Independent Director of the Company. Announcement • Jul 23
Tube Investments of India Limited to Report Q1, 2026 Results on Aug 01, 2025 Tube Investments of India Limited announced that they will report Q1, 2026 results on Aug 01, 2025 Upcoming Dividend • Jul 18
Upcoming dividend of ₹1.50 per share Eligible shareholders must have bought the stock before 25 July 2025. Payment date: 30 August 2025. Payout ratio is a comfortable 10% but the company is paying out more than the cash it is generating. Trailing yield: 0.1%. Lower than top quartile of Indian dividend payers (1.2%). Lower than average of industry peers (0.7%). Reported Earnings • Jul 09
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: ₹34.83 (up from ₹34.68 in FY 2024). Revenue: ₹189.2b (up 16% from FY 2024). Net income: ₹6.74b (flat on FY 2024). Profit margin: 3.6% (down from 4.1% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is expected to decline by 18% p.a. on average during the next 3 years, while revenues in the Auto Components industry in India are expected to grow by 8.8%. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Declared Dividend • May 17
Final dividend of ₹1.50 announced Dividend of ₹1.50 is the same as last year. Ex-date: 25th July 2025 Payment date: 30th August 2025 Dividend yield will be 0.1%, which is lower than the industry average of 0.6%. Payout Ratios Payout ratio: 10%. Cash payout ratio: Approximately 147x free cash flows. Reported Earnings • May 16
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: ₹34.83 (up from ₹34.41 in FY 2024). Revenue: ₹189.2b (up 16% from FY 2024). Net income: ₹6.74b (up 1.3% from FY 2024). Profit margin: 3.6% (down from 4.1% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is expected to decline by 20% p.a. on average during the next 3 years, while revenues in the Auto Components industry in India are expected to grow by 9.4%. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Announcement • May 15
Tube Investments of India Limited, Annual General Meeting, Aug 01, 2025 Tube Investments of India Limited, Annual General Meeting, Aug 01, 2025. Announcement • May 05
Tube Investments of India Limited to Report Fiscal Year 2025 Results on May 15, 2025 Tube Investments of India Limited announced that they will report fiscal year 2025 results on May 15, 2025 Board Change • May 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Non-Executive Independent Director Vadalur Radhakrishnan was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Mar 24
Tube Investments of India Limited Announces Change in Executive Position of Mr. Vellayan Subbiah Mr. Vellayan Subbiah, Executive Vice Chairman requested for a change in the executive position in Tube investments of India Limited ("Tll"). Accordingly, the Board of Directors at its meeting held (24th March 2025) accepted his request and approved the change in his executive position with effect from close of business hours on 31't March 2025. Effective 1st April 2025, Mr. Vellayan Subbiah will become Non-Executive Vice Chairman of Tll and continue to guide and support the growth & new projects of Tll & its subsidiaries. Price Target Changed • Feb 06
Price target decreased by 9.1% to ₹3,827 Down from ₹4,210, the current price target is an average from 6 analysts. New target price is 29% above last closing price of ₹2,968. Stock is down 15% over the past year. The company is forecast to post earnings per share of ₹37.37 for next year compared to ₹34.40 last year. Declared Dividend • Feb 05
Dividend of ₹2.00 announced Dividend of ₹2.00 is the same as last year. Ex-date: 7th February 2025 Payment date: 28th February 2025 Dividend yield will be 0.1%, which is lower than the industry average of 0.6%. Reported Earnings • Feb 04
Third quarter 2025 earnings released: EPS: ₹10.01 (vs ₹1.53 loss in 3Q 2024) Third quarter 2025 results: EPS: ₹10.01 (up from ₹1.53 loss in 3Q 2024). Revenue: ₹46.8b (up 16% from 3Q 2024). Net income: ₹1.94b (up ₹2.14b from 3Q 2024). Profit margin: 4.1% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Revenue is expected to decline by 8.5% p.a. on average during the next 3 years, while revenues in the Auto Components industry in India are expected to grow by 10%. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Announcement • Feb 03
Tube Investments of India Limited Announces Interim Dividend for the Financial Year Ending 31 March 2025, Payable on Before 28 February 2025 Tube Investments of India Limited announced Payment of an interim Dividend at INR 2/- (Rupees Two only) per equity share of the face value of INR 1- each of the Company for the financial year ending 31st March 2025. The Record Date for determining the members eligible to receive the aforesaid interim Dividend was fixed 7th February 2025. The interim Dividend will be paid on or before 28th February 2025. Announcement • Jan 23
Tube Investments of India Limited to Report Q3, 2025 Results on Feb 03, 2025 Tube Investments of India Limited announced that they will report Q3, 2025 results Pre-Market on Feb 03, 2025 Reported Earnings • Nov 05
Second quarter 2025 earnings released: EPS: ₹10.69 (vs ₹14.29 in 2Q 2024) Second quarter 2025 results: EPS: ₹10.69 (down from ₹14.29 in 2Q 2024). Revenue: ₹47.8b (up 15% from 2Q 2024). Net income: ₹2.07b (down 28% from 2Q 2024). Profit margin: 4.3% (down from 6.8% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 6.4% p.a. on average during the next 3 years, while revenues in the Auto Components industry in India are expected to grow by 10%. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 36% per year, which means it is well ahead of earnings. Announcement • Oct 25
Tube Investments of India Limited to Report Q2, 2025 Results on Nov 04, 2024 Tube Investments of India Limited announced that they will report Q2, 2025 results on Nov 04, 2024 Price Target Changed • Sep 19
Price target increased by 9.7% to ₹4,328 Up from ₹3,944, the current price target is an average from 6 analysts. New target price is 8.7% above last closing price of ₹3,980. Stock is up 21% over the past year. The company is forecast to post earnings per share of ₹43.70 for next year compared to ₹34.40 last year. Announcement • Aug 16
Tube Investments of India Limited Receives Order From office of Assistant Commissioner, Commercial Tax Department, Gorakhpur Tube Investments of India Limited announced Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), write to inform that a Notice under Section 129 (3) of the Central Goods and Services Tax Act, 2017 has been received 14 August 2024 imposing a penalty of INR 393,730/-. Nature and Details of the Action(S) Taken, Initiated or Order(S) Passed: the Company Has Received Notice Under Section 129 (3) of the Central Goods and Services Tax Act,2017. Name of the authority: Office of Assistant Commissioner, Commercial Tax Department, Gorakhpur. Price Target Changed • Aug 05
Price target increased by 8.5% to ₹4,146 Up from ₹3,819, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of ₹3,968. Stock is up 30% over the past year. The company is forecast to post earnings per share of ₹43.70 for next year compared to ₹34.40 last year. Announcement • Jul 17
Tube Investments of India Limited to Report Q1, 2025 Results on Aug 01, 2024 Tube Investments of India Limited announced that they will report Q1, 2025 results on Aug 01, 2024 Upcoming Dividend • Jul 16
Upcoming dividend of ₹1.50 per share Eligible shareholders must have bought the stock before 23 July 2024. Payment date: 31 August 2024. Payout ratio is a comfortable 10% but the company is not cash flow positive. Trailing yield: 0.1%. Lower than top quartile of Indian dividend payers (1.1%). Lower than average of industry peers (0.5%). Reported Earnings • Jul 07
Full year 2024 earnings released: EPS: ₹34.41 (vs ₹40.87 in FY 2023) Full year 2024 results: EPS: ₹34.41 (down from ₹40.87 in FY 2023). Revenue: ₹163.4b (up 13% from FY 2023). Net income: ₹6.65b (down 16% from FY 2023). Profit margin: 4.1% (down from 5.5% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 9.3% p.a. on average during the next 3 years, while revenues in the Auto Components industry in India are expected to grow by 10%. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 57% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • May 15
Final dividend of ₹1.50 announced Dividend of ₹1.50 is the same as last year. Ex-date: 23rd July 2024 Payment date: 31st August 2024 Dividend yield will be 0.09%, which is lower than the industry average of 0.6%. Announcement • May 15
Tube Investments of India Limited, Annual General Meeting, Aug 01, 2024 Tube Investments of India Limited, Annual General Meeting, Aug 01, 2024. Reported Earnings • May 14
Full year 2024 earnings released: EPS: ₹46.03 (vs ₹40.87 in FY 2023) Full year 2024 results: EPS: ₹46.03. Revenue: ₹163.3b (up 13% from FY 2023). Net income: ₹6.65b (down 16% from FY 2023). Profit margin: 4.1% (down from 5.5% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 11% p.a. on average during the next 3 years, while revenues in the Auto Components industry in India are expected to grow by 10%. Announcement • Feb 15
Tube Investments of India Limited Appoints Shivdeep Singh Jammu as Senior Management Personne Tube Investments of India Limited announced that Mr. Shivdeep Singh Jammu has been designated as a Senior Management Personnel of the Company with effect from February 15, 2024. Mr. Shivdeep Singh Jammu is taking over as Division Head of Tube Products of India, a division of the Company. He holds a Bachelor's degree in Mechanical Engineering from Punjab Engineering College and completed his MBA from the Institute of Chartered Financial Analysts of India. He also did his Advanced Management Program at the Harvard Business School, Boston. He started his career as Deputy Manager with Steel Strips Tubes. He joined Tube Products of India in 2007 as Senior Manager-Manufacturing Engineering. His areas of expertise include strategic planning & execution, project management, production management, and change management. Upcoming Dividend • Feb 06
Upcoming dividend of ₹2.00 per share at 0.1% yield Eligible shareholders must have bought the stock before 13 February 2024. Payment date: 29 February 2024. Payout ratio is a comfortable 8.3% and this is well supported by cash flows. Trailing yield: 0.1%. Lower than top quartile of Indian dividend payers (1.1%). Lower than average of industry peers (0.6%). Price Target Changed • Feb 05
Price target increased by 9.3% to ₹3,611 Up from ₹3,305, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of ₹3,599. Stock is up 35% over the past year. The company is forecast to post earnings per share of ₹39.83 for next year compared to ₹40.87 last year. Declared Dividend • Feb 03
Dividend of ₹2.00 announced Dividend of ₹2.00 is the same as last year. Ex-date: 13th February 2024 Payment date: 29th February 2024 Dividend yield will be 0.1%, which is lower than the industry average of 0.6%. Payout Ratios Payout ratio: 8%. Cash payout ratio: 13%. Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: ₹10.93 (vs ₹12.21 in 3Q 2023) Third quarter 2024 results: EPS: ₹10.93 (down from ₹12.21 in 3Q 2023). Revenue: ₹42.6b (up 20% from 3Q 2023). Net loss: ₹200.1m (down 108% from profit in 3Q 2023). Revenue is expected to decline by 2.5% p.a. on average during the next 3 years, while revenues in the Auto Components industry in India are expected to grow by 11%. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 01
Tube Investments of India Limited Announces Payment of an Interim Dividend for the Financial Year Ending 31 March 2024, Payable on or Before 29 February 2024 Tube Investments of India Limited announced the Payment of an Interim Dividend at INR 2/- (Rupees Two only) per equity share of the face value of INR 1- each of the Company [ISIN: 1NE974X01010] for the financial year ending 31st March 2024. The Record Date for determining the members eligible to receive the aforesaid Interim Dividend was fixed as of 13th February 2024. The Interim Dividend will be paid on or before 29th February 2024. Announcement • Jan 10
Tube Investments of India Limited to Report Q3, 2024 Results on Feb 01, 2024 Tube Investments of India Limited announced that they will report Q3, 2024 results on Feb 01, 2024 New Risk • Nov 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Oct 31
Second quarter 2024 earnings released: EPS: ₹14.29 (vs ₹10.92 in 2Q 2023) Second quarter 2024 results: EPS: ₹14.29 (up from ₹10.92 in 2Q 2023). Revenue: ₹43.7b (up 20% from 2Q 2023). Net income: ₹2.86b (up 35% from 2Q 2023). Profit margin: 6.5% (up from 5.8% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is expected to decline by 7.8% p.a. on average during the next 3 years, while revenues in the Auto Components industry in India are expected to grow by 11%. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 68% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 11
Tube Investments of India Limited to Report Q2, 2024 Results on Oct 30, 2023 Tube Investments of India Limited announced that they will report Q2, 2024 results on Oct 30, 2023 Price Target Changed • Aug 06
Price target increased by 7.9% to ₹3,217 Up from ₹2,983, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ₹3,115. Stock is up 35% over the past year. The company is forecast to post earnings per share of ₹45.10 for next year compared to ₹40.87 last year. Upcoming Dividend • Jul 19
Upcoming dividend of ₹1.50 per share at 0.1% yield Eligible shareholders must have bought the stock before 26 July 2023. Payment date: 01 September 2023. Payout ratio is a comfortable 8.6% and this is well supported by cash flows. Trailing yield: 0.1%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (0.8%). Reported Earnings • Jul 12
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: ₹40.87 (up from ₹38.65 in FY 2022). Revenue: ₹144.4b (up 20% from FY 2022). Net income: ₹7.89b (up 5.8% from FY 2022). Profit margin: 5.5% (down from 6.2% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.7%. Revenue is expected to decline by 8.8% p.a. on average during the next 3 years, while revenues in the Auto Components industry in India are expected to grow by 9.8%. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has increased by 91% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 16
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: ₹49.50 (up from ₹39.88 in FY 2022). Revenue: ₹151.1b (up 25% from FY 2022). Net income: ₹7.89b (up 2.6% from FY 2022). Profit margin: 5.2% (down from 6.4% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.7%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has increased by 104% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 11
PI Oppurtunities Fund I Scheme II managed by Premji Invest Limited and Tube Investments of India Limited (NSEI:TIINDIA) completed the acquisition of Lotus Surgicals Private Limited from lndia Medical Consumables Holdings Limited and other shareholders. PI Oppurtunities Fund I Scheme II managed by Premji Invest Limited and Tube Investments of India Limited (NSEI:TIINDIA) entered into a Share Purchase Agreement to acquire Lotus Surgicals Private Limited from lndia Medical Consumables Holdings Limited and other shareholders for INR 3.48 billion on March 24, 2023. Tll will be acquiring 67% of equity share capital of Lotus and Premji lnvest will be acquiring 33% of equity share capital of Lotus. Lotus Surgicals Private Limited reported a Turnover of INR 1.16 billion in FY 2021-22. Transaction is expected to complete on April 30, 2023.
PI Oppurtunities Fund I Scheme II managed by Premji Invest Limited and Tube Investments of India Limited (NSEI:TIINDIA) completed the acquisition of Lotus Surgicals Private Limited from lndia Medical Consumables Holdings Limited and other shareholders on May 10, 2023. Upcoming Dividend • Feb 08
Upcoming dividend of ₹2.00 per share at 0.1% yield Eligible shareholders must have bought the stock before 15 February 2023. Payment date: 28 February 2023. Payout ratio is a comfortable 8.2% and this is well supported by cash flows. Trailing yield: 0.1%. Lower than top quartile of Indian dividend payers (1.6%). Lower than average of industry peers (0.6%). Reported Earnings • Feb 05
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: ₹12.21 (down from ₹14.46 in 3Q 2022). Revenue: ₹35.4b (up 6.8% from 3Q 2022). Net income: ₹2.38b (down 15% from 3Q 2022). Profit margin: 6.7% (down from 8.4% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.2%. Earnings per share (EPS) also missed analyst estimates by 18%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has increased by 72% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 04
Tube Investments of India Announces Interim Dividend Paid on or Before 28th February 2023 Tube Investments of India Limited announced payment of an interim Dividend at INR 2 (Rupees Two only) per equity share of the face value of INR 1 each of the Company for the financial year ending 31st March 2023. The Record Date for determining the members eligible to receive the aforesaid Interim Dividend was fixed as 15th February 2023. The interim Dividend will be paid on or before 28th February 2023. Announcement • Jan 26
Tube Investments of India Limited to Report Q3, 2023 Results on Feb 03, 2023 Tube Investments of India Limited announced that they will report Q3, 2023 results on Feb 03, 2023 Board Change • Nov 16
High number of new directors There are 6 new directors who have joined the board in the last 3 years. MD & Additional Director Mukesh Ahuja was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Nov 10
Price target increased to ₹2,802 Up from ₹2,588, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ₹2,715. Stock is up 59% over the past year. The company is forecast to post earnings per share of ₹61.10 for next year compared to ₹39.88 last year. Reported Earnings • Nov 06
Second quarter 2023 earnings released: EPS: ₹10.92 (vs ₹8.74 in 2Q 2022) Second quarter 2023 results: EPS: ₹10.92 (up from ₹8.74 in 2Q 2022). Revenue: ₹38.1b (up 21% from 2Q 2022). Net income: ₹2.11b (up 25% from 2Q 2022). Profit margin: 5.5% (up from 5.4% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has increased by 88% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 22
Tube Investments of India Limited to Report Q2, 2023 Results on Nov 04, 2022 Tube Investments of India Limited announced that they will report Q2, 2023 results on Nov 04, 2022 Price Target Changed • Oct 07
Price target decreased to ₹2,162 Down from ₹2,347, the current price target is an average from 5 analysts. New target price is 21% below last closing price of ₹2,745. Stock is up 100% over the past year. The company is forecast to post earnings per share of ₹51.00 for next year compared to ₹39.88 last year. Announcement • Sep 24
Tube Investments of India Limited (BSE:540762) completed the acquisition of 76% stake in Moshine Electronics Private Limited from the promoter and existing shareholders for INR 73.8 million. Tube Investments of India Limited (BSE:540762) entered into agreement to acquire 76% stake in Moshine Electronics Private Limited from the promoter and existing shareholders for INR 86.4 million on July 21, 2022. Under the transaction, Tube Investments of India will acquire 20.67 million shares of Moshine Electronics. Moshine Electronics Private Limited reported INR 210 million of revenues in FY 2021-22. The transaction is subject to certain conditions and is expected to complete on or before September 30, 2022.
Tube Investments of India Limited (BSE:540762) completed the acquisition of 76% stake in Moshine Electronics Private Limited from the promoter and existing shareholders for INR 73.8 million on September 23, 2022. Valuation Update With 7 Day Price Move • Sep 05
Investor sentiment improved over the past week After last week's 16% share price gain to ₹2,488, the stock trades at a forward P/E ratio of 46x. Average forward P/E is 23x in the Auto Components industry in India. Total returns to shareholders of 645% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹1,168 per share. Major Estimate Revision • Aug 31
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 EPS estimate fell from ₹58.90 to ₹51.00 per share. Revenue forecast steady at ₹151.6b. Net income forecast to grow 26% next year vs 36% growth forecast for Auto Components industry in India. Consensus price target broadly unchanged at ₹2,347. Share price rose 9.9% to ₹2,262 over the past week. Price Target Changed • Aug 14
Price target increased to ₹2,328 Up from ₹2,089, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of ₹2,238. Stock is up 81% over the past year. The company is forecast to post earnings per share of ₹58.90 for next year compared to ₹39.88 last year. Major Estimate Revision • Aug 09
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 consensus EPS increased from ₹51.85 to ₹58.90. Revenues were reaffirmed at ₹150.1b. Net income forecast to grow 39% next year vs 37% growth forecast for Auto Components industry in India. Consensus price target up from ₹2,089 to ₹2,200. Share price rose 12% to ₹2,325 over the past week. Announcement • Aug 03
Tube Investments of India Limited Announces Chief Financial Officer Changes, effective from September 9, 2022 Tube Investments of India Limited announced the appointment of AN Meyyappan as Chief Financial Officer with effect from 9th September 2022. Mr. K Mahendra Kumar, the present Chief Financial Officer of the Company hasresigned and he will be relieved from the services of the Company from the close of business hours on 8th September 2022. Mr. AN Meyyappan is a Member of lnstitute of Chartered Accountants of lndia with 23 years experience including about 22years in the Company in various capacities. He is currently heading the Auto Chains business unit of the Company and has experience heading finance at both division and corporate in the Company prior to his current role. Announcement • Jul 26
Tube Investments of India Limited to Report Q1, 2023 Results on Aug 02, 2022 Tube Investments of India Limited announced that they will report Q1, 2023 results on Aug 02, 2022 Announcement • Jul 22
Tube Investments of India Limited (BSE:540762) entered into agreement to acquire 76% stake in Moshine Electronics Private Limited from the promoter and existing shareholders for INR 86.4 million. Tube Investments of India Limited (BSE:540762) entered into agreement to acquire 76% stake in Moshine Electronics Private Limited from the promoter and existing shareholders for INR 86.4 million on July 21, 2022. Under the transaction, Tube Investments of India will acquire 20.67 million shares of Moshine Electronics. Moshine Electronics Private Limited reported INR 210 million of revenues in FY 2021-22. The transaction is subject to certain conditions and is expected to complete on or before September 30, 2022. Price Target Changed • Jul 20
Price target increased to ₹2,089 Up from ₹1,901, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of ₹2,194. Stock is up 98% over the past year. The company is forecast to post earnings per share of ₹51.85 for next year compared to ₹39.88 last year. Major Estimate Revision • Jul 14
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 EPS estimate fell from ₹57.10 to ₹43.60 per share. Revenue forecast steady at ₹150.1b. Net income forecast to grow 9.3% next year vs 34% growth forecast for Auto Components industry in India. Consensus price target up from ₹1,877 to ₹1,997. Share price was steady at ₹1,986 over the past week. Upcoming Dividend • Jul 13
Upcoming dividend of ₹1.50 per share Eligible shareholders must have bought the stock before 20 July 2022. Payment date: 31 August 2022. Payout ratio is a comfortable 8.8% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.8%). Lower than average of industry peers (0.7%). Reported Earnings • Jul 10
Full year 2022 earnings released: EPS: ₹39.88 (vs ₹14.54 in FY 2021) Full year 2022 results: EPS: ₹39.88 (up from ₹14.54 in FY 2021). Revenue: ₹120.7b (up 107% from FY 2021). Net income: ₹7.69b (up 180% from FY 2021). Profit margin: 6.4% (up from 4.7% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 24%, compared to a 22% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has increased by 71% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improved over the past week After last week's 19% share price gain to ₹1,798, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 23x in the Auto Components industry in India. Total returns to shareholders of 370% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹1,168 per share. Reported Earnings • May 14
Full year 2022 earnings released: EPS: ₹39.87 (vs ₹15.13 in FY 2021) Full year 2022 results: EPS: ₹39.87 (up from ₹15.13 in FY 2021). Revenue: ₹126.3b (up 116% from FY 2021). Net income: ₹7.69b (up 169% from FY 2021). Profit margin: 6.1% (up from 4.9% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 19%, compared to a 18% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has increased by 66% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Apr 27
Price target increased to ₹1,857 Up from ₹1,602, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of ₹1,832. Stock is up 49% over the past year. The company posted earnings per share of ₹15.13 last year. Board Change • Apr 27
High number of new directors There are 6 new directors who have joined the board in the last 3 years. MD & Additional Director Mukesh Ahuja was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Additional Independent Director Tejpreet Chopra was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Mar 16
Head of Strategic Sourcing recently sold ₹11m worth of stock On the 8th of March, A. Muthukumaran sold around 8k shares on-market at roughly ₹1,456 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹480m more than they bought in the last 12 months. Price Target Changed • Feb 11
Price target increased to ₹1,788 Up from ₹1,602, the current price target is an average from 2 analysts. New target price is 5.1% above last closing price of ₹1,701. Stock is up 79% over the past year. The company posted earnings per share of ₹15.13 last year. Upcoming Dividend • Feb 10
Upcoming dividend of ₹2.00 per share Eligible shareholders must have bought the stock before 17 February 2022. Payment date: 04 March 2022. Payout ratio is a comfortable 3.9% but the company is not cash flow positive. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.4%). Lower than average of industry peers (0.7%). Reported Earnings • Feb 09
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2022 results: EPS: ₹14.46 (up from ₹5.71 in 3Q 2021). Revenue: ₹34.4b (up 112% from 3Q 2021). Net income: ₹2.79b (up 160% from 3Q 2021). Profit margin: 8.1% (up from 6.6% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 35%. Over the next year, revenue is forecast to grow 8.7%, compared to a 17% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has increased by 71% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 08
Tube Investments of India Limited Declares Interim Dividend for the Financial Year Ending March 31, 2022, Payable on March 4, 2022 The board of directors of Tube Investments of India Limited at its board meeting held on February 7, 2022 declared interim dividend at INR 2 per equity share face value of INR 1/each for the financial year ending March 31, 2022. The Record Date for determining the members eligible to receive the aforesaid interim dividend was fixed as 18th February 2022. The interim dividend will be paid on 4th March 2022. Announcement • Jan 25
Tube Investments of India Limited (BSE:540762) signed a share purchase agreement to acquire 48.24% stake in Cellestial E-Mobility Private Limited from its founders and other existing shareholders for INR 1.1 billion. Tube Investments of India Limited (BSE:540762) signed a share purchase agreement to acquire 48.24% stake in Cellestial E-Mobility Private Limited from its founders and other existing shareholders for INR 1.1 billion on January 24, 2021. In a related transaction, Tube Investments of India Limited (BSE:540762) signed a shares subscription agreement to acquire 21.76% stake in Cellestial E-Mobility Private Limited. Tube Investments will acquire 70% stake in total for approximately INR 1.6 billion in cash. Under the terms of the acquisition, Tube Investments will purchase 97,647 equity shares from the promoters and existing shareholders of Cellestial and, through the subscription, 44,030 fresh equity shares to be made by Cellestial. The cost of acquisition will be up to INR 161Crores for 141,677 equity shares, at INR 11,356 per share. The acquisition is subject to shareholders approval and satisfactory completion of the conditions precedents as contained in the agreements executed between the parties and would be completed before March 15, 2022. Price Target Changed • Oct 31
Price target increased to ₹1,492 Up from ₹1,394, the current price target is an average from 3 analysts. New target price is 7.1% above last closing price of ₹1,393. Stock is up 113% over the past year. The company is forecast to post earnings per share of ₹49.30 for next year compared to ₹15.13 last year. Reported Earnings • Oct 30
Second quarter 2022 earnings released: EPS ₹8.74 (vs ₹5.28 in 2Q 2021) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2022 results: Revenue: ₹31.4b (up 176% from 2Q 2021). Net income: ₹1.68b (up 70% from 2Q 2021). Profit margin: 5.4% (down from 8.7% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 68% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Aug 27
Insider recently sold ₹7.8m worth of stock On the 23rd of August, Krishna Srinivas sold around 6k shares on-market at roughly ₹1,270 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹140m more than they bought in the last 12 months. Major Estimate Revision • Aug 20
Consensus revenue estimates increase to ₹104.1b The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from ₹85.5b to ₹104.1b. EPS estimate increased from ₹29.60 to ₹33.60 per share. Net income forecast to grow 48% next year vs 24% growth forecast for Auto Components industry in India. Consensus price target up from ₹1,273 to ₹1,346. Share price rose 3.2% to ₹1,274 over the past week. Executive Departure • Aug 18
Independent Non-Executive Director Madhu Dubhashi has left the company On the 13th of August, Madhu Dubhashi's tenure as Independent Non-Executive Director ended after 4.0 years in the role. As of June 2021, Madhu still personally held 4.99k shares (₹5.8m worth at the time). A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 2.88 years. Reported Earnings • Aug 15
First quarter 2022 earnings released: EPS ₹6.22 (vs ₹3.41 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹23.4b (up 433% from 1Q 2021). Net income: ₹1.20b (up ₹1.84b from 1Q 2021). Profit margin: 5.1% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 66% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Aug 10
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Additional Independent Woman Director Sasikala Varadachari was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Apr 04
Insider recently sold ₹5.5m worth of stock On the 30th of March, Manoj Kotwani sold around 5k shares on-market at roughly ₹1,153 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹23m. Insiders have been net sellers, collectively disposing of ₹147m more than they bought in the last 12 months.