TIINDIA

Tube Investments of India Limited

Murugappa group's engineering arm — metal tubes, chains and cycles

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

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Key metrics

Price as of 2026-10-16

Stock price
₹2197.30
Market cap
42,521 Cr
Stock P/E
70.1
P/B
5.48
Dividend yield
0.4%
ROE (FY26)
4.5%
ROCE (FY26)
13.1%
Operating margin (FY26)
7.0%
Debt / equity (FY26)
0.05
OCF / EBITDA (FY26)
51.4%
OCF / EBITDA (3Y)
50.4%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

TI (Tube Investments of India) is a diversified engineering group with businesses in engineering products, metal formed products, mobility and electric vehicles, gears, power and industrial systems, medical products and contract drug manufacturing.

Company snapshot

7thBy market cap

Ranked among 94 companies in Auto Components & Equipments.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 33.1% of revenue

SegmentRevenue shareRevenuePBTAssets
Discontinued Operations—0 Cr0 Cr73 Cr
Electric Vehicles
2.6%
127 Cr-126 Cr2,460 Cr
Engineering
25.2%
1,212 Cr156 Cr2,030 Cr
Gears and Gear Products
3.3%
158 Cr35 Cr491 Cr
Industrial Systems
33.1%
1,591 Cr174 Cr2,797 Cr
Inter-Segment—0 Cr0 Cr-614 Cr
Medical
1.0%
47 Cr0.52 Cr257 Cr
Metal Formed Products
8.3%
400 Cr40 Cr617 Cr
Mobility
3.0%
142 Cr-0.44 Cr217 Cr
Others
6.7%
321 Cr2 Cr803 Cr
Power Systems
19.1%
920 Cr159 Cr1,963 Cr
Un-allocable
0.1%
3 Cr0 Cr0 Cr

Shares add up to 102% because segment revenues are before inter-segment eliminations.

What we see

Positives
  • ✓Debt-to-equity of 0.05x — the company is largely funded by its own money, not borrowed funds.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales4,306 Cr4,197 Cr4,490 Cr4,578 Cr4,925 Cr4,812 Cr5,150 Cr5,309 Cr5,523 Cr5,801 Cr6,215 Cr6,215 Cr
Operating expenses (approx.)3,743 Cr3,728 Cr4,039 Cr4,049 Cr4,434 Cr4,321 Cr4,813 Cr4,763 Cr4,978 Cr5,216 Cr5,632 Cr5,667 Cr
EBITDA562 Cr469 Cr451 Cr529 Cr490 Cr491 Cr337 Cr546 Cr544 Cr585 Cr583 Cr548 Cr
OPM %13.1%11.2%10.0%11.5%10.0%10.2%6.5%10.3%9.9%10.1%9.4%8.8%
Other income62 Cr58 Cr83 Cr65 Cr71 Cr77 Cr158 Cr72 Cr93 Cr106 Cr117 Cr112 Cr
Interest13 Cr13 Cr15 Cr16 Cr16 Cr15 Cr16 Cr17 Cr14 Cr15 Cr16 Cr16 Cr
Depreciation118 Cr123 Cr119 Cr114 Cr119 Cr127 Cr137 Cr152 Cr164 Cr173 Cr175 Cr183 Cr
Profit before tax490 Cr941 Cr395 Cr464 Cr426 Cr426 Cr334 Cr449 Cr459 Cr445 Cr500 Cr461 Cr
Tax %30.3%12.5%31.3%32.4%29.8%34.3%52.6%32.5%34.2%37.3%53.2%36.2%
Net profit341 Cr824 Cr271 Cr314 Cr299 Cr280 Cr158 Cr303 Cr302 Cr279 Cr234 Cr294 Cr
EPS (₹)₹13.63₹27.48₹9.80₹11.64₹10.69₹10.01₹2.41₹10.28₹9.65₹8.57₹4.42₹8.71

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales4,820 Cr5,116 Cr5,775 Cr4,750 Cr6,083 Cr12,525 Cr14,965 Cr16,890 Cr19,465 Cr22,847 CrSign in free for the trailing twelve months
Operating expenses (approx.)4,417 Cr4,709 Cr5,230 Cr4,172 Cr5,448 Cr11,092 Cr13,077 Cr14,941 Cr17,615 Cr20,590 CrSign in free for the trailing twelve months
EBITDA403 Cr408 Cr545 Cr579 Cr635 Cr1,434 Cr1,888 Cr1,949 Cr1,849 Cr2,258 CrSign in free for the trailing twelve months
OPM %8.4%8.0%9.4%12.2%10.4%11.4%12.6%11.5%9.5%9.9%Sign in free for the trailing twelve months
Other income48 Cr35 Cr53 Cr62 Cr111 Cr109 Cr143 Cr252 Cr371 Cr387 CrSign in free for the trailing twelve months
Interest74 Cr58 Cr53 Cr30 Cr41 Cr58 Cr42 Cr52 Cr63 Cr62 CrSign in free for the trailing twelve months
Depreciation149 Cr154 Cr162 Cr185 Cr251 Cr349 Cr396 Cr465 Cr492 Cr664 CrSign in free for the trailing twelve months
Profit before tax221 Cr214 Cr378 Cr403 Cr412 Cr1,152 Cr1,748 Cr2,218 Cr1,653 Cr1,852 CrSign in free for the trailing twelve months
Tax %21.1%27.3%33.6%22.3%26.1%14.0%24.2%22.3%36.2%39.6%Sign in free for the trailing twelve months
Net profit174 Cr156 Cr251 Cr313 Cr305 Cr991 Cr1,325 Cr1,723 Cr1,054 Cr1,118 CrSign in free for the trailing twelve months
EPS (₹)₹8.94₹7.86₹12.86₹16.31₹15.13₹39.85₹58.13₹62.12₹34.83₹32.91Sign in free for the trailing twelve months
Dividend payout %————0.0%7.3%12.7%9.4%15.4%15.1%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital19 Cr19 Cr19 Cr19 Cr19 Cr19 Cr19 Cr19 Cr19 Cr19 Cr
Reserves1,169 Cr1,254 Cr1,457 Cr1,715 Cr2,153 Cr3,052 Cr3,931 Cr5,080 Cr5,516 Cr7,732 Cr
Borrowings726 Cr535 Cr508 Cr269 Cr1,326 Cr804 Cr629 Cr740 Cr443 Cr392 Cr
Other liabilities1,175 Cr1,446 Cr1,302 Cr1,015 Cr5,213 Cr4,359 Cr4,667 Cr5,695 Cr7,829 Cr6,893 Cr
Total liabilities3,179 Cr3,354 Cr3,382 Cr3,091 Cr9,047 Cr8,888 Cr10,252 Cr13,179 Cr15,964 Cr21,487 Cr
Fixed assets (net)988 Cr1,026 Cr1,098 Cr1,183 Cr2,313 Cr2,245 Cr2,221 Cr2,657 Cr3,203 Cr4,095 Cr
CWIP34 Cr90 Cr69 Cr58 Cr135 Cr117 Cr178 Cr348 Cr733 Cr806 Cr
Investments202 Cr134 Cr144 Cr198 Cr336 Cr554 Cr741 Cr1,382 Cr943 Cr1,035 Cr
Loans & advances——2 Cr3 Cr2 Cr2 Cr2 Cr3 Cr0.32 Cr0.28 Cr
Inventories731 Cr761 Cr815 Cr559 Cr1,109 Cr1,327 Cr1,353 Cr1,788 Cr2,224 Cr2,853 Cr
Trade receivables615 Cr697 Cr681 Cr525 Cr1,279 Cr1,785 Cr2,129 Cr2,733 Cr3,305 Cr4,367 Cr
Cash & bank24 Cr32 Cr53 Cr35 Cr526 Cr414 Cr843 Cr536 Cr656 Cr532 Cr
Other assets586 Cr614 Cr521 Cr531 Cr3,347 Cr2,444 Cr2,786 Cr3,734 Cr4,900 Cr7,798 Cr
Total assets3,179 Cr3,354 Cr3,382 Cr3,091 Cr9,047 Cr8,888 Cr10,252 Cr13,179 Cr15,964 Cr21,487 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity383 Cr397 Cr493 Cr596 Cr412 Cr877 Cr1,386 Cr675 Cr1,213 Cr1,161 Cr
Cash from investing-263 Cr-186 Cr-196 Cr-246 Cr0 Cr-79 Cr-871 Cr-1,657 Cr-1,615 Cr-3,953 Cr
Cash from financing-685 Cr-291 Cr-280 Cr-284 Cr0 Cr-899 Cr-75 Cr645 Cr522 Cr2,668 Cr
Net cash flow-565 Cr-81 Cr17 Cr66 Cr412 Cr-101 Cr440 Cr-336 Cr121 Cr-124 Cr
Free cash flow (OCF − Capex)218 Cr166 Cr299 Cr374 Cr412 Cr629 Cr970 Cr-176 Cr0.46 Cr-272 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %14.7%14.3%20.7%20.9%11.8%26.7%32.1%30.3%21.1%13.1%
ROE %13.1%11.3%15.3%17.0%11.4%20.6%19.3%17.8%8.8%4.5%
Debtor days46504340775252596270
Inventory days1049989841136154626773
Days payable110123105105230107929794103
Cash conversion cycle40252720-40514253539
OCF / EBITDA %95.0%97.3%90.6%103.0%64.9%61.2%73.4%34.6%65.6%51.4%
OCF / EBITDA % (3 years)——93.9%97.1%85.4%71.2%67.6%55.7%57.6%50.4%
Debt / equity0.610.420.340.160.610.260.160.150.080.05
Current ratio1.161.041.071.120.730.981.451.631.811.87
Net debt / EBITDA1.74—0.840.411.260.27-0.110.10-0.12-0.06