Tube Investments of India Ltd

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Tube Investments of India Ltd

₹ 2,880 -0.20%
24 Aug - close price
tiindia.com BSE: 540762 NSE: TIINDIA F&O
About

Tube Investments of India Limited (TII) is one of India’s leading manufacturers of a wide range of products for major industries such as Automotive, Railway, Construction, Mining, Agriculture, etc. The Company’s 3 main verticals are Engineering, Metal Formed Products and Bicycles. In line with its growth strategies, the Company has forayed into TMT bars and Truck Body Building business and is additionally exploring opportunities in optic lens and other vision systems for the Auto industry. [1]

Key Points

Leadership[1]
Company is the largest manufacturer of cold drawn welded steel tubes in India. It’s the market leader of transmission chains in India & 2nd largest manufacturer of cycles transmission chain in India. It has 35+ manufacturing locations.

Website BSE NSE F&O
  • Market Cap ₹ 56,245 Cr.
  • Current Price ₹ 2,880
  • High / Low ₹ 3,420 / 2,165
  • Stock P/E 89.7
  • Book Value ₹ 400
  • Dividend Yield 0.12 %
  • ROCE 17.1 %
  • ROE 9.95 %
  • Face Value ₹ 1.00
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Pros

Cons

  • Stock is trading at 7.19 times its book value
  • Dividend payout has been low at 8.78% of profits over last 3 years

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Consumer Discretionary Automobile and Auto Components Auto Components Auto Components & Equipments

Part of BSE 500 BSE 200 BSE Dollex 200 Nifty 500 BSE Auto

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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
3,898 4,306 4,197 4,490 4,578 4,925 4,812 5,150 5,309 5,523 5,801 6,215 6,215
3,431 3,744 3,728 4,039 4,047 4,434 4,321 4,813 4,763 4,978 5,216 5,632 5,667
Operating Profit 467 562 469 451 531 490 491 337 546 544 585 583 548
OPM % 12% 13% 11% 10% 12% 10% 10% 7% 10% 10% 10% 9% 9%
42 59 609 77 62 71 77 150 72 93 49 108 112
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 390 496 946 398 467 426 426 334 449 459 445 500 461
Tax % 27% 30% 12% 31% 32% 30% 34% 53% 32% 34% 37% 53% 36%
284 346 828 274 317 299 280 158 303 302 279 234 294
EPS in Rs 11.14 13.77 27.58 9.88 11.73 10.69 10.01 2.40 10.28 9.65 8.57 4.41 8.71
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
0 4,479 5,000 5,773 4,750 6,083 12,447 14,964 16,890 19,465 22,847 23,754
0 4,073 4,626 5,240 4,169 5,443 10,997 13,081 14,921 17,595 20,569 21,494
Operating Profit 0 406 374 533 582 641 1,450 1,883 1,969 1,870 2,279 2,259
OPM % 9% 7% 9% 12% 11% 12% 13% 12% 10% 10% 10%
0 41 55 62 40 26 147 319 787 359 317 362
Interest 0 77 62 56 34 52 99 58 73 83 79 62
Depreciation 0 149 154 162 185 251 347 396 465 492 664 695
Profit before tax 0 221 214 378 403 365 1,152 1,748 2,218 1,653 1,852 1,864
Tax % 21% 27% 34% 22% 22% 14% 24% 22% 36% 40%
0 174 156 251 313 286 991 1,325 1,723 1,054 1,118 1,109
EPS in Rs 7.86 12.81 16.31 14.28 39.85 49.48 62.08 34.82 32.90 31.34
Dividend Payout % 0% 17% 20% 21% 25% 1% 7% 6% 10% 11%
Compounded Sales Growth
10 Years: %
5 Years: 30%
3 Years: 15%
TTM: 18%
Compounded Profit Growth
10 Years: %
5 Years: 17%
3 Years: -11%
TTM: -3%
Stock Price CAGR
10 Years: %
5 Years: 17%
3 Years: 0%
1 Year: -6%
Return on Equity
10 Years: 18%
5 Years: 19%
3 Years: 15%
Last Year: 10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 0.11 19 19 19 19 19 19 19 19 19 19
Reserves -0 1,169 1,254 1,457 1,715 2,293 3,052 3,931 5,080 5,516 7,732
0 851 776 611 414 1,972 871 726 896 703 754
0 1,097 1,263 1,263 932 4,349 4,932 5,583 7,109 9,640 12,919
Total Liabilities 0 3,135 3,312 3,349 3,080 8,634 8,874 10,260 13,105 15,879 21,425
0 1,306 1,358 1,429 1,515 3,426 3,324 3,588 4,417 5,210 6,232
CWIP 0 34 90 69 58 152 128 191 381 770 895
Investments 0 202 134 132 186 369 542 729 1,370 931 1,024
0 1,593 1,730 1,719 1,321 4,687 4,880 5,752 6,938 8,969 13,274
Total Assets 0 3,135 3,312 3,349 3,080 8,634 8,874 10,260 13,105 15,879 21,425

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-0 383 409 493 596 257 896 1,386 675 1,185 1,161
0 316 -181 -196 -246 -80 -79 -850 -1,657 -1,587 -3,953
0 -685 -291 -280 -284 304 -921 -75 645 522 2,668
Net Cash Flow 0 14 -63 17 66 481 -104 461 -336 120 -124
Free Cash Flow -0 227 182 310 377 112 658 983 -148 -22 -266
CFO/OP 104% 128% 115% 123% 56% 70% 87% 48% 88% 85%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 50 51 41 40 74 52 52 59 62 70
Inventory Days 101 93 84 75 111 58 50 59 63 70
Days Payable 107 117 96 94 224 103 85 92 89 98
Cash Conversion Cycle 44 26 29 22 -38 8 17 26 36 41
Working Capital Days 4 -4 -3 -2 -88 -30 0 10 24 52
ROCE % 26% 13% 20% 21% 13% 26% 32% 26% 22% 17%

Insights

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Electric 3-wheeler Volumes
units
Electric M&HCV Truck Market Share
%
Electric M&HCV Truck Volumes
units
Engineering Export Share of Revenue
% ・Standalone data

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Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
46.12% 45.11% 45.11% 45.04% 44.97% 44.11% 44.11% 44.09% 44.09% 44.06% 44.05% 43.93%
30.42% 28.83% 28.33% 27.40% 28.38% 28.25% 26.93% 26.31% 25.45% 23.15% 21.42% 22.35%
11.47% 14.14% 14.81% 15.50% 14.73% 15.04% 16.12% 16.78% 17.71% 19.68% 21.75% 21.01%
0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45%
11.55% 11.48% 11.31% 11.60% 11.48% 12.15% 12.40% 12.35% 12.29% 12.67% 12.33% 12.26%
No. of Shareholders 76,47279,16880,77883,21587,03095,1521,02,3081,06,3111,04,1021,08,6151,06,1781,00,623

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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