Tube Investment
Tube Investment
Automobiles F&OKey Fundamentals
MidcapAuto ComponentsAutomobilesTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Weaknesses
1- Dividend payout has been low at 8.78% of profits over last 3 years
Growth Rate
AI Analysis — Bull vs Bear
Tube Investments of India has a market cap of about ₹49,147 crore and trades at a P/E of 44.3 and a P/B of 6.35. Sales have grown quickly, at an 18% TTM and 30% 5-year compounded rate, but profit has fallen: -3% TTM and -11% compounded over 3 years. ROE dropped to 10% last year from a 10-year average of 18%, and the stock is down 20% over 1 year and 7% over 3 years.
- Revenue growth has been strong and sustained, with sales compounding at 30% over 5 years and 15% over 3 years. This points to a much larger business base and continued demand across its segments.
- Top-line growth has not slowed. TTM sales growth of 18% is faster than the 3-year compounded rate of 15%, which shows the business is still expanding in the near term.
- Returns have held up over long periods, with ROE averaging 18% over 10 years and 19% over 5 years. This suggests the business can earn solid returns on capital across cycles.
- Profit grew at a 17% compounded rate over 5 years, so earnings have still risen over the longer term despite recent weakness.
- Shareholders have gained over the long term, with a 5-year stock CAGR of 12% despite the recent drawdown.
- The stock is down 20% over 1 year and 7% over 3 years, so part of the earnings slowdown may already be reflected in the price, compared with where it was 1-3 years ago.
- A low dividend payout of 8.78% over 3 years means most profits are retained. That capital can go to reinvestment and new business lines instead of distributions.
- Profit has declined, with compounded profit growth of -11% over 3 years and -3% TTM. Earnings have not kept pace with revenue growth of 15-18%, which points to margin pressure or higher costs.
- The valuation is high for a company whose earnings are shrinking. A P/E of 44.3 is being paid while 3-year profit CAGR is -11%, leaving little room for further disappointment.
- ROE fell to 10% last year, well below the 3-year average of 15% and the 10-year average of 18%. Capital efficiency is clearly weakening.
- A P/B of 6.35 is steep compared with a last-year ROE of 10%. Investors are paying about 6x book for a business currently earning low double-digit returns on equity.
- Recent stock returns are negative: -20% over 1 year and -7% CAGR over 3 years. Market sentiment has weakened as profitability has declined.
- The dividend yield is minimal at 0.14% and the 3-year payout ratio is 8.78%, so there is little income support for shareholders while earnings are under pressure.
- The gap between 5-year sales CAGR (30%) and 5-year profit CAGR (17%) shows that growth has been turning into earnings less efficiently over time.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- ₹250 crore infusion into TI Clean Mobility Sep 30
Tube Investments put ₹250 crore into TI Clean Mobility through a Series C round and was allotted 2.5 crore Compulsorily Convertible Preference Shares. The money is meant to scale up the electric mobility business, and an Amended and Restated Shareholders' Agreement was signed alongside the deal.
- Montra targets ₹9,600 crore by 2030 Sep 21
Montra, the group's commercial EV brand, is aiming for ₹9,600 crore in revenue by 2030. Electric trucks are expected to drive 70% of that growth, which makes heavy commercial EVs its main growth engine.
- Analyst meetings on Sep 23, 28 Sep 18
Under SEBI LODR rules, Tube Investments of India disclosed one-on-one meetings with analysts and investors on September 23 and 28, 2026. This is a routine disclosure, though management may use the meetings to explain its EV strategy and capital allocation.
TL;DR: Recent news centres on Tube Investments' push into electric mobility: a ₹250 crore Series C infusion into TI Clean Mobility and Montra's ₹9,600 crore revenue goal for 2030, with 70% tied to electric trucks. Together they show strong commitment to clean mobility as a long-term growth driver. The main risks are that the EV unit keeps needing capital, which may dilute near-term returns, and that the 2030 target depends heavily on adoption of electric heavy commercial vehicles, a market still at an early stage in India. The trend is constructive, and investors should look for real order wins, cash burn disclosures and Montra's progress toward its target in coming quarters.
Quarterly Results
| Particulars | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 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 |
| Expenses | 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% |
| Other Income | 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 |
| PBT | 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% |
| Net Profit | 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 | 2.4 | 10.28 | 9.65 | 8.57 | 4.41 | 8.71 |
Profit & Loss
| Particulars | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 0 | 4,479 | 5,000 | 5,773 | 4,750 | 6,083 | 12,447 | 14,964 | 16,890 | 19,465 | 22,847 | 23,754 |
| Expenses | 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% |
| Other Income | 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 |
| PBT | 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% | — |
| Net Profit | 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 | 32.9 | 31.34 |
| Div. Payout % | — | 0% | 17% | 20% | 21% | 25% | 1% | 7% | 6% | 10% | 11% | — |
Balance Sheet
| Particulars | 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 |
| Borrowings | 0 | 851 | 776 | 611 | 414 | 1,972 | 871 | 726 | 896 | 703 | 754 |
| Other Liabilities | 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 |
| Fixed Assets | 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 |
| Other Assets | 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 Flow
| Particulars | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 0 | 383 | 409 | 493 | 596 | 257 | 896 | 1,386 | 675 | 1,185 | 1,161 |
| Investing | 0 | 316 | -181 | -196 | -246 | -80 | -79 | -850 | -1,657 | -1,587 | -3,953 |
| Financing | 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
| Particulars | 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
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Tube Investment insights
63 extracted metrics + investor summaries across FY10–FY27.
Documents
Frequently Asked Questions about Tube Investment
What does Tube Investments of India Ltd do?
Where is Tube Investments of India Ltd (TIINDIA) listed?
Which sector does Tube Investments of India Ltd belong to?
What is the market capitalisation of Tube Investments of India Ltd?
What is the PE ratio of Tube Investments of India Ltd?
What is the 52-week high and low of Tube Investments of India Ltd?
Does Tube Investments of India Ltd pay dividends?
What is the Return on Equity (ROE) of Tube Investments of India Ltd?
Company Information
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]
For AI agents and developers
Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/TIINDIA.md for Tube Investments of India Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.
Append .md to any Tapetide URL for the
same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live,
structured queries instead of documents, use our MCP server.