# Tube Investments of India (TIINDIA) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/tiindia

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹2,170
- Change: -5.65%
- As of: 2026-11-06
- 1D return: -5.65%
- 5D return: +2.36%
- 1M return: -3.17%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

TIINDIA (₹2,170) presents a conflicting technical picture as of 6 November 2026. On the daily timeframe, price action is trapped between short-term moving averages: it sits above the 20-period SMA but below the 20-period EMA, 50-period EMA, and 200-period SMA. Despite this mixed positioning, the daily Supertrend remains bullish, and trend strength is established with an ADX of 36.56. However, momentum indicators show bearish dominance, with the -DI (28.38) significantly higher than the +DI (17.86). This divergence was highlighted by an extreme volume anomaly on 6 November, where a -5.7% drop occurred alongside a 2.45x volume ratio, suggesting strong selling pressure.

On weekly and monthly horizons, the setup is uniformly bearish. The Supertrend is bearish on both timeframes, and price trades below all supplied moving averages. Monthly ADX stands at 30.07, confirming established downward momentum. The stock is trading near the lower end of its 252-day range (+12.4%) and has suffered a current drawdown of -40.9%. Support is immediate at ₹2,168.37 (-0.08%), while resistance begins at ₹2,197.73 (+1.28%). A sustained move above the 20-period EMA would be required to signal a shift in daily momentum, while a break below ₹2,150.70 (-0.89%) would expose deeper support at ₹2,005.20.

- Daily trend structure is mixed: price is above the 20-SMA and Supertrend (bullish signals) but below the 20-EMA, 50-EMA, and 200-SMA (bearish signals), creating a contested zone around ₹2,170.
- Momentum is bearish across all horizons; -DI exceeds +DI on the daily chart, and the weekly/monthly Supertrends are both bearish with established ADX readings (27.34 and 30.07 respectively).
- An extreme volume-weighted downward move occurred on 6 Nov 2026 (-5.7% return, 2.45x volume ratio), indicating significant participation in the decline despite the daily Supertrend remaining technically bullish.
- Key levels to monitor: immediate support at ₹2,168.37 (-0.08%) and ₹2,150.70 (-0.89%); nearest resistance at ₹2,197.73 (+1.28%). A close above the 20-EMA would be needed to validate a daily reversal.

- Doji
- Inside Bar
- Outside Bar
- Bearish Engulfing Reversal

### News Context

Tube Investments of India (TIINDIA) reported consolidated net profit growth of 39% to ₹420.58 crore for Q2 FY27, driven by strong performance from subsidiaries CG Power and Shanthi Gears, while standalone profit remained flat at ₹188 crore. Revenue rose 32.7% year-on-year to ₹7,330.31 crore. The Board approved an ₹83 crore capital expenditure plan to expand cold-rolled steel strips manufacturing capacity at its Avadi facility, with completion expected by FY28. Following the results, TII shares rose 2.20% on the NSE. This development occurred within a broader market rally where the Sensex and Nifty extended their winning streak to seven consecutive sessions, closing at a nine-month high above 25,000, driven by heavy buying in banking stocks and strong quarterly earnings from Mahindra & Mahindra.

- Q2 FY27 consolidated net profit surged 39% to ₹420.58 crore, outpacing flat standalone PAT of ₹188 crore, highlighting subsidiary contribution.
- Revenue grew 32.7% YoY to ₹7,330.31 crore, reflecting top-line expansion alongside profitability gains.
- Board approved ₹83 crore capex for capacity expansion at the Avadi cold-rolled steel strips facility, targeting completion in FY28.
- Shares gained 2.20% on the NSE post-results, amid a broader market rally where Sensex and Nifty hit nine-month highs.

- [Sensex, Nifty rally for 7th straight day: 3 reasons behind D-Street's winning streak](https://www.cnbctv18.com/market/sensex-nifty-rally-for-7th-straight-day-3-reasons-behind-d-streets-winning-streak-20028940.htm)
- [Tube Investments Q2 consolidated profit grows 39%, standalone PAT flat](https://www.thehindubusinessline.com/companies/tube-investments-q2-consolidated-profit-grows-39-standalone-pat-flat/article71669894.ece)
- [Tube Investments Q2 FY27 Earnings Shift Into Top Gear As Net Profit Soars 39% To ₹420.58 Crore, Revenue Zooms 33% To ₹7,330 Crore While Board Clears ₹83 Crore Expansion Plan](https://www.freepressjournal.in/business/tube-investments-q2-fy27-earnings-shift-into-top-gear-as-net-profit-soars-39-to-42058-crore-revenue-zooms-33-to-7330-crore-while-board-clears-83-crore-expansion-plan)

### What Changed

Tube Investments of India (TIINDIA) reported Q2 FY27 results on November 5, 2026, revealing a divergence between consolidated and standalone performance. Consolidated net profit grew 39% to ₹420 crore, driven by strong contributions from subsidiaries CG Power and Shanthi Gears. In contrast, standalone profit remained flat at ₹188 crore. The Board approved a capital expenditure of up to ₹83 crore to expand capacity at its Cold Rolled Steel Strips (CRSS) facility in Avadi, funded through internal accruals with completion targeted for FY 2027-28. Following the announcement, shares rose 2.20% on the NSE. As of November 6, 2026, the stock price is ₹2,170, down from the previous recorded level of ₹2,300.

- Q2 FY27 consolidated net profit increased 39% to ₹420 crore, while standalone PAT remained flat at ₹188 crore.
- Board approved ₹83 crore capex for CRSS capacity expansion in Avadi, expected to complete in FY 2027-28.
- Stock closed at ₹2,170 on November 6, 2026, following a 2.20% rise post-results; prior reference price was ₹2,300.

- [Sensex, Nifty rally for 7th straight day: 3 reasons behind D-Street's winning streak](https://www.cnbctv18.com/market/sensex-nifty-rally-for-7th-straight-day-3-reasons-behind-d-streets-winning-streak-20028940.htm)
- [Tube Investments Q2 consolidated profit grows 39%, standalone PAT flat](https://www.thehindubusinessline.com/companies/tube-investments-q2-consolidated-profit-grows-39-standalone-pat-flat/article71669894.ece)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1753936_05112026064054_WEB.xml)
- [TUBE INVESTMENTS OF INDIA LIMITED has informed the Exchange about Capacity addition (Sub-para 3-Para B) |SUBJECT: Capacity addition (Sub-para 3-Para B)](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_15551_WebXMLFile_20261105_184113245.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1753935_05112026064048_WEB.xml)

### Official Filings

Tube Investments of India Limited (TIINDIA) disclosed key operational and financial developments on November 5, 2026, following its Board Meeting. The company approved a capital expenditure proposal not exceeding ₹83 Crores to enhance capacity at its Cold Rolled Steel Strips (CRSS) manufacturing facility in Avadi, funded through internal accruals with an expected completion timeline in FY 2027-28. Concurrently, TIINDIA increased its stake in listed subsidiary Shanthi Gears Limited from 70.46% to 73.16% by acquiring 20,64,773 equity shares via block deal for ₹477.72 Crores. Additionally, the company invested ₹25 Crores in Series D Compulsorily Convertible Preference Shares of 3xper Innoventure Limited. On November 2, 2026, TIINDIA disclosed an environmental compensation penalty of ₹39 lakhs imposed by the Punjab Pollution Control Board for non-compliance with Consent to Operate conditions under the Water (Prevention and Control of Pollution) Act, 1974, though the company stated there is no material impact on its financial or operational activities.

- Capacity Expansion: Board-approved capex of up to ₹83 Crores for CRSS facility enhancement in Avadi, financed via internal accruals, targeting completion in FY 2027-28.
- Subsidiary Stake Increase: Acquisition of 20,64,773 shares in Shanthi Gears Limited for ₹477.72 Crores, raising holding from 70.46% to 73.16%.
- New Investment: Commitment of ₹25 Crores to Series D Compulsorily Convertible Preference Shares of 3xper Innoventure Limited.
- Regulatory Penalty: Imposition of ₹39 lakhs environmental compensation by Punjab Pollution Control Board; company asserts no material financial or operational impact.

- [Tube Investments of India Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/TIINDIA_05112026132513_TIINSEBSEBM.pdf)
- [Tube Investments of India Limited has informed the Exchange about Capacity addition |SUBJECT: Capacity addition](https://nsearchives.nseindia.com/corporate/TIINDIA_05112026132904_TIINSEBSEBM.pdf)
- [Tube Investments of India Limited has informed the Exchange regarding a press release dated November 05, 2026, titled "Press Release - Q2". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/TIINDIA_05112026133156_TIINSEBSEBM.pdf)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1753936_05112026064054_WEB.xml)
- [TUBE INVESTMENTS OF INDIA LIMITED has informed the Exchange about Capacity addition (Sub-para 3-Para B) |SUBJECT: Capacity addition (Sub-para 3-Para B)](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_15551_WebXMLFile_20261105_184113245.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1753935_05112026064048_WEB.xml)
- [Tube Investments of India Limited has informed the Exchange about Action(s) initiated or orders passed |SUBJECT: Action(s) initiated or orders passed](https://nsearchives.nseindia.com/corporate/TIINDIA_02112026192542_TIISEDiscPenalty.pdf)
- [TUBE INVESTMENTS OF INDIA LIMITED has informed the Exchange about Action(s) taken or orders passed (sub-para 20) |SUBJECT: Actions initiated/taken or orders passed-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/AIATOP_15551_WebXMLFile_20261102_193422962.xml)
- [Financial Results |Meeting Date: 05-Nov-2026](https://nsearchives.nseindia.com/corporate/TIINDIA_26102026193403_TIINSEBSEBMIntimation.pdf)
- [Board Meeting Intimation |Meeting Date: 05-Nov-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_15551_WebXMLFile_20261026_194439418.xml)

### Fundamentals

Tube Investments of India (TIINDIA) is navigating a phase of aggressive capacity expansion funded by external capital, resulting in a divergence between top-line growth and bottom-line profitability. In Q2 FY2026-27, revenue from operations rose sequentially to ₹7,330 crore, with net profit increasing to ₹421 crore. However, this growth comes at the cost of margin compression; operating profit margins contracted from approximately 7.4% in Q1 to 8.8% gross but with expenses rising sharply to ₹6,799 crore. The balance sheet reflects this investment cycle: total assets grew to ₹24,045 crore as of September 2026, driven by significant increases in inventories (₹3,601 crore) and trade receivables (₹5,395 crore). Cash flow data indicates heavy investing activity (-₹3,953 crore in Mar 2026) funded by financing inflows (+₹2,668 crore), while working capital efficiency has deteriorated, with the cash conversion cycle widening to 41 days and debtor days extending to 70 days. Despite these pressures, earnings quality remains robust, with CFO/EBITDA converting 85% of operating profit into cash in Mar 2026. Institutional interest is shifting, with DIIs increasing their stake to 21.63% while FIIs reduced theirs to 21.5%.

- Revenue Growth vs. Margin Pressure: Q2 FY2026-27 revenue reached ₹7,330 crore, but expense growth outpaced sales, compressing operating margins despite sequential net profit improvement to ₹421 crore.
- Balance Sheet Expansion & Working Capital Strain: Total assets rose to ₹24,045 crore (Sep 2026), with trade receivables jumping to ₹5,395 crore and inventory to ₹3,601 crore, contributing to a widened cash conversion cycle of 41 days.
- Funding the Capex Cycle: Heavy investing outflows (-₹3,953 crore in Mar 2026) were largely financed by equity/debt inflows (+₹2,668 crore), indicating an ongoing capital expenditure phase that has yet to fully reflect in returns.
- Earnings Quality & Ownership Shift: Operating cash flow conversion remains strong at 85% (Mar 2026), while DII holding increased to 21.63%, offsetting a decline in FII participation to 21.5%.

### Bull Case

Tube Investments of India reported a robust Q2 FY27 performance, with consolidated net profit surging 39.2% year-on-year to ₹420.58 crore and revenue climbing 32.7% to ₹7,330.31 crore. This growth was primarily driven by strong contributions from subsidiaries CG Power and Shanthi Gears, which offset flat standalone profit of ₹188 crore. The Board has approved an ₹83 crore capital expenditure plan to expand cold-rolled steel strips capacity at its Avadi facility, with completion targeted for FY28. While the stock price declined 5.7% over the past week and remains in a bearish monthly trend with a significant drawdown, the fundamental earnings momentum and strategic capacity expansion provide a constructive operational backdrop.

- Consolidated net profit grew 39.2% YoY to ₹420.58 crore in Q2 FY27, driven by subsidiary performance.
- Revenue increased 32.7% to ₹7,330.31 crore, indicating strong top-line momentum.
- Board approved ₹83 crore capex for Avadi facility expansion, expected to complete by FY28.
- Standalone PAT remained flat at ₹188 crore, highlighting reliance on subsidiary growth.

- [Sensex, Nifty rally for 7th straight day: 3 reasons behind D-Street's winning streak](https://www.cnbctv18.com/market/sensex-nifty-rally-for-7th-straight-day-3-reasons-behind-d-streets-winning-streak-20028940.htm)
- [Tube Investments Q2 consolidated profit grows 39%, standalone PAT flat](https://www.thehindubusinessline.com/companies/tube-investments-q2-consolidated-profit-grows-39-standalone-pat-flat/article71669894.ece)
- [Tube Investments Q2 FY27 Earnings Shift Into Top Gear As Net Profit Soars 39% To ₹420.58 Crore, Revenue Zooms 33% To ₹7,330 Crore While Board Clears ₹83 Crore Expansion Plan](https://www.freepressjournal.in/business/tube-investments-q2-fy27-earnings-shift-into-top-gear-as-net-profit-soars-39-to-42058-crore-revenue-zooms-33-to-7330-crore-while-board-clears-83-crore-expansion-plan)
- [Tube Investments of India Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/TIINDIA_05112026132513_TIINSEBSEBM.pdf)
- [Tube Investments of India Limited has informed the Exchange about Capacity addition |SUBJECT: Capacity addition](https://nsearchives.nseindia.com/corporate/TIINDIA_05112026132904_TIINSEBSEBM.pdf)
- [Tube Investments of India Limited has informed the Exchange regarding a press release dated November 05, 2026, titled "Press Release - Q2". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/TIINDIA_05112026133156_TIINSEBSEBM.pdf)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1753936_05112026064054_WEB.xml)
- [TUBE INVESTMENTS OF INDIA LIMITED has informed the Exchange about Capacity addition (Sub-para 3-Para B) |SUBJECT: Capacity addition (Sub-para 3-Para B)](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_15551_WebXMLFile_20261105_184113245.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1753935_05112026064048_WEB.xml)
- [Tube Investments of India Limited has informed the Exchange about Action(s) initiated or orders passed |SUBJECT: Action(s) initiated or orders passed](https://nsearchives.nseindia.com/corporate/TIINDIA_02112026192542_TIISEDiscPenalty.pdf)

### Bear Case

TIINDIA’s recent financial results show a divergence between consolidated and standalone performance, with Q2 FY27 consolidated net profit rising 39% to ₹420.58 crore while standalone profit remained flat at ₹188 crore. This reliance on subsidiary growth (CG Power and Shanthi Gears) masks stagnation in the core entity's earnings. Concurrently, the stock faces significant technical headwinds; it is trading near ₹2,170, down 27.1% over the past year and suffering a current drawdown of -40.9%. The monthly trend remains bearish, and resistance levels are clustered closely above the current price, limiting immediate upside potential despite the positive earnings news.

- Standalone PAT flat at ₹188 crore in Q2 FY27, contrasting with 39% consolidated profit growth driven by subsidiaries.
- Stock trades at a -40.9% current drawdown and -27.1% one-year return, indicating prolonged underperformance.
- Monthly technical trend is bearish with Supertrend signaling downside pressure as of November 6, 2026.
- Close proximity of resistance levels (₹2,197.73 and ₹2,248.87) suggests limited room for immediate price appreciation.

- [Sensex, Nifty rally for 7th straight day: 3 reasons behind D-Street's winning streak](https://www.cnbctv18.com/market/sensex-nifty-rally-for-7th-straight-day-3-reasons-behind-d-streets-winning-streak-20028940.htm)
- [Tube Investments Q2 consolidated profit grows 39%, standalone PAT flat](https://www.thehindubusinessline.com/companies/tube-investments-q2-consolidated-profit-grows-39-standalone-pat-flat/article71669894.ece)
- [Tube Investments Q2 FY27 Earnings Shift Into Top Gear As Net Profit Soars 39% To ₹420.58 Crore, Revenue Zooms 33% To ₹7,330 Crore While Board Clears ₹83 Crore Expansion Plan](https://www.freepressjournal.in/business/tube-investments-q2-fy27-earnings-shift-into-top-gear-as-net-profit-soars-39-to-42058-crore-revenue-zooms-33-to-7330-crore-while-board-clears-83-crore-expansion-plan)
- [Tube Investments of India Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/TIINDIA_05112026132513_TIINSEBSEBM.pdf)
- [Tube Investments of India Limited has informed the Exchange about Capacity addition |SUBJECT: Capacity addition](https://nsearchives.nseindia.com/corporate/TIINDIA_05112026132904_TIINSEBSEBM.pdf)
- [Tube Investments of India Limited has informed the Exchange regarding a press release dated November 05, 2026, titled "Press Release - Q2". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/TIINDIA_05112026133156_TIINSEBSEBM.pdf)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1753936_05112026064054_WEB.xml)
- [TUBE INVESTMENTS OF INDIA LIMITED has informed the Exchange about Capacity addition (Sub-para 3-Para B) |SUBJECT: Capacity addition (Sub-para 3-Para B)](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_15551_WebXMLFile_20261105_184113245.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1753935_05112026064048_WEB.xml)
- [Tube Investments of India Limited has informed the Exchange about Action(s) initiated or orders passed |SUBJECT: Action(s) initiated or orders passed](https://nsearchives.nseindia.com/corporate/TIINDIA_02112026192542_TIISEDiscPenalty.pdf)

### FAQs

**How did Tube Investments of India perform financially in Q2 FY27?**

For the quarter ended September 30, 2026, consolidated net profit grew 39.2% year-on-year to ₹420.58 crore, and revenue rose 32.7% to ₹7,330.31 crore. Standalone profit remained flat at ₹188 crore. The growth was driven by strong performance from subsidiaries CG Power and Shanthi Gears.

**What capital expenditure plans has the company approved recently?**

The Board approved a capital expenditure of up to ₹83 crore to expand capacity at its Cold Rolled Steel Strips (CRSS) facility in Avadi. This project is expected to be completed in FY 2027-28 and will be funded through internal accruals.

**Has the company made any recent changes to its stake in subsidiaries?**

Yes. The company acquired 20,64,773 equity shares of listed subsidiary Shanthi Gears Limited via block deal for ₹477.72 crore. This increased its stake from 70.46% to 73.16%. Additionally, it invested ₹25 crore in Series D Compulsorily Convertible Preference Shares of 3xper Innoventure Limited.

**What are the current technical support and resistance levels for TIINDIA?**

As of November 6, 2026, with the stock closing at ₹2,170.00, immediate support lies at ₹2,168.37 and ₹2,150.70. Resistance levels are identified at ₹2,197.73, ₹2,248.87, and ₹2,278.23. The daily trend shows a bullish super-trend direction, while the monthly trend remains bearish.

- [Sensex, Nifty rally for 7th straight day: 3 reasons behind D-Street's winning streak](https://www.cnbctv18.com/market/sensex-nifty-rally-for-7th-straight-day-3-reasons-behind-d-streets-winning-streak-20028940.htm)
- [Tube Investments Q2 consolidated profit grows 39%, standalone PAT flat](https://www.thehindubusinessline.com/companies/tube-investments-q2-consolidated-profit-grows-39-standalone-pat-flat/article71669894.ece)
- [Tube Investments Q2 FY27 Earnings Shift Into Top Gear As Net Profit Soars 39% To ₹420.58 Crore, Revenue Zooms 33% To ₹7,330 Crore While Board Clears ₹83 Crore Expansion Plan](https://www.freepressjournal.in/business/tube-investments-q2-fy27-earnings-shift-into-top-gear-as-net-profit-soars-39-to-42058-crore-revenue-zooms-33-to-7330-crore-while-board-clears-83-crore-expansion-plan)
- [Tube Investments of India Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/TIINDIA_05112026132513_TIINSEBSEBM.pdf)
- [Tube Investments of India Limited has informed the Exchange about Capacity addition |SUBJECT: Capacity addition](https://nsearchives.nseindia.com/corporate/TIINDIA_05112026132904_TIINSEBSEBM.pdf)
- [Tube Investments of India Limited has informed the Exchange regarding a press release dated November 05, 2026, titled "Press Release - Q2". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/TIINDIA_05112026133156_TIINSEBSEBM.pdf)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1753936_05112026064054_WEB.xml)
- [TUBE INVESTMENTS OF INDIA LIMITED has informed the Exchange about Capacity addition (Sub-para 3-Para B) |SUBJECT: Capacity addition (Sub-para 3-Para B)](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_15551_WebXMLFile_20261105_184113245.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1753935_05112026064048_WEB.xml)
- [Tube Investments of India Limited has informed the Exchange about Action(s) initiated or orders passed |SUBJECT: Action(s) initiated or orders passed](https://nsearchives.nseindia.com/corporate/TIINDIA_02112026192542_TIISEDiscPenalty.pdf)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Weak Uptrend
- Weekly trend: Moderate Downtrend
- Pivot point: ₹2,278.23
- Risk regime: Higher Price Risk

### Support levels
- 2150.7
- 2005.2
- 2168.3666666666663

### Resistance levels
- 2595.9
- 2654.6312500000004
- 2730.75

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | -5.65% |
| return_10 | +4.33% |
| return_1m | -12.24% |
| return_1y | -27.12% |
| return_20 | -3.17% |
| return_3m | -21.20% |
| return_5 | +2.36% |
| return_6m | -25.61% |
| return_since_start | -39.38% |
| return_ytd | -17.27% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | high_risk |
| label | Higher price risk |
| summary | Recent drawdown or price variability is materially high and may lead to larger short-term outcomes. |
| maximum_drawdown | -43.36% |
| annualized_volatility | +35.64% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# Tube Investments of India Limited Q2 FY2026-27: Revenue up 33% YoY

Tube Investments of India reported consolidated revenue from operations of ₹7,330 crore for Q2 FY2026-27, up 32.7% year on year and 17.9% sequentially. Profit before tax rose 39.5% from Q1 to ₹643 crore, while profit for the period was ₹421 crore. Operating cash flow was ₹436 crore.

## Revenue and expenses

Revenue from operations increased by ₹1,115 crore from Q1 FY2026-27. Total income was ₹7,442 crore, compared with ₹6,327 crore in Q1, while total expenses rose 15.9% sequentially to ₹6,799 crore from ₹5,866 crore.

Q2 expenses included ₹4,752 crore for materials consumed, ₹243 crore for purchases of stock in trade, ₹647 crore in employee benefits and ₹183 crore in depreciation and amortisation. Other expenses were ₹1,037 crore, up 11.7% from Q1. Revenue grew faster than expenses sequentially, alongside a higher profit before tax.

## Earnings and per-share results

Profit before tax was ₹643 crore, compared with ₹461 crore in Q1 FY2026-27 and ₹459 crore in Q2 FY2025-26. Tax expense was ₹223 crore, up from ₹167 crore sequentially. Profit from continuing operations increased 42.8% quarter on quarter to ₹420 crore.

Profit for the period was ₹421 crore, of which ₹249 crore was attributable to owners of the parent and ₹172 crore to non-controlling interests. Diluted EPS from continuing operations was ₹12.86, versus ₹8.70 in Q1 FY2026-27 and ₹9.64 in Q2 FY2025-26. Finance costs increased to ₹19.2 crore from ₹16.3 crore sequentially.

## Cash flow and working capital

Cash flow from operating activities was ₹436 crore in Q2. Investing activities used ₹371 crore and financing activities used ₹28 crore; reported free cash flow was ₹64 crore. Cash and cash equivalents in the cash-flow statement stood at ₹569 crore on 30 September 2026, compared with ₹264 crore on 30 September 2025.

At 30 September 2026, inventories were ₹3,601 crore and trade receivables were ₹5,395 crore, compared with ₹2,642 crore and ₹3,596 crore, respectively, at 30 September 2025. Trade payables also increased over that period, to ₹5,039 crore from ₹3,615 crore. These higher balances accompanied the year-on-year increase in revenue and indicate a larger working-capital base.

## Balance sheet and investment

Total assets were ₹24,045 crore at 30 September 2026, up from ₹20,316 crore a year earlier. Equity attributable to owners of the parent was ₹8,110 crore, compared with ₹7,519 crore; non-controlling interests were ₹6,795 crore, up from ₹3,833 crore.

Property, plant and equipment stood at ₹4,497 crore and capital work in progress at ₹1,061 crore at the reporting date, compared with ₹3,720 crore and ₹763 crore, respectively, at 30 September 2025.

## Key Takeaway

Q2 combined strong year-on-year revenue growth with a sharper sequential rise in profit before tax and positive operating cash flow. The substantial year-on-year increases in inventories and receivables point to a larger working-capital base, while property, plant and equipment and capital work in progress were also higher.

### Ratios

## Shareholding pattern

- Quarter: FY2026-Q4
- As of: 2026-03-31
- Promoter holding: +44.04%
- FII holding: +21.29%
- DII holding: +21.75%
- Mutual fund holding: +14.69%
- Retail holding: +8.24%
- Promoter pledged: +0.00%

### Major reported shareholders

- AMBADI INVESTMENTS LIMITED — +35.63% (Bodies Corporate)
- NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA ETF — +3.98%
- SMALLCAP WORLD FUND, INC — +3.77%
- MOTILAL OSWAL NIFTY MIDCAP 100 ETF — +2.23%
- LIFE INSURANCE CORPORATION OF INDIA — +1.85%
- UTI NIFTY500 SHARIAH INDEX FUND — +1.22%
- FRANKLIN ASIAN EQUITY FUND — +1.14%
- DSP NIFTY MIDCAP 150 QUALITY 50 INDEX FUND — +1.04%
- HDFC LIFE INSURANCE COMPANY LIMITED — +1.02%
- NPS TRUST- A/C HDFC PENSION FUND MANAGEMENT LIMITE — +1.02%

## Official filings

- 2026-11-06 — Generic Announcement: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TIINDIA_06112026165440_TIINSEBSEEarningsCallRecording.pdf)
- 2026-11-06 — Generic Announcement: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_15551_WebXMLFile_20261106_165833011.xml)
- 2026-11-05 — Generic Announcement: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TIINDIA_05112026132513_TIINSEBSEBM.pdf)
- 2026-11-05 — Generic Announcement: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TIINDIA_05112026132904_TIINSEBSEBM.pdf)
- 2026-11-05 — Press Release: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TIINDIA_05112026133156_TIINSEBSEBM.pdf)
- 2026-11-05 — Financial Results Filing: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1753936_05112026064054_WEB.xml)
- 2026-11-05 — Generic Announcement: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_15551_WebXMLFile_20261105_184113245.xml)
- 2026-11-05 — Financial Results Filing: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1753935_05112026064048_WEB.xml)
- 2026-11-02 — Generic Announcement: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TIINDIA_02112026192542_TIISEDiscPenalty.pdf)
- 2026-11-02 — Generic Announcement: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/AIATOP_15551_WebXMLFile_20261102_193422962.xml)
- 2026-10-26 — Board Meeting Notice: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TIINDIA_26102026193403_TIINSEBSEBMIntimation.pdf)
- 2026-10-26 — Board Meeting Notice: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_15551_WebXMLFile_20261026_194439418.xml)
- 2026-10-26 — Generic Announcement: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_15551_WebXMLFile_20261026_194439418.xml)
- 2026-10-26 — Generic Announcement: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TIINDIA_26102026193652_TIINSEBSEEarningsCallQ2FY27.pdf)
- 2026-10-26 — Generic Announcement: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_15551_WebXMLFile_20261026_195039972.xml)
- 2026-10-20 — Shareholding Disclosure: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1742269_20102026031745_WEB.xml)
- 2026-10-16 — Generic Announcement: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TIINDIA_16102026150935_StockExchnageDisclosureESGratings.pdf)
- 2026-10-08 — Generic Announcement: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TIINDIA_08102026145134_Reg74QtrlyDematConfmCerttoNSEBSE.pdf)
- 2026-09-29 — Generic Announcement: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TIINDIA_29092026160902_TIINSEBSETICMPL.pdf)
- 2026-09-28 — Generic Announcement: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TIINDIA_28092026183307_TIINSEBSETWC.pdf)
- 2026-09-28 — Generic Announcement: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_15551_WebXMLFile_20260928_184119056.xml)
- 2026-09-21 — Shareholding Disclosure: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/content/RSS/Shareholding_Pattern.xml)
- 2026-09-18 — Generic Announcement: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TIINDIA_18092026145933_AnalystMeet.pdf)
- 2026-09-18 — Generic Announcement: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TIINDIA_18092026150139_AnalystMeet.pdf)
- 2026-09-18 — Generic Announcement: Tube Investments of India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_15551_WebXMLFile_20260918_151209728.xml)

## News and market events

- 2026-11-06 — CNBC-TV18: **Sensex, Nifty rally for 7th straight day: 3 reasons behind D-Street's winning streak** — The Sensex and Nifty extended their winning streak to seven consecutive sessions, with the Nifty 50 closing at a nine-month high above 25,000. The rally was primarily driven by heavy buying in banking heavyweight stocks and strong quarterly earnings from Mahindra & Mahindra. Conversely, select midcap stocks underperformed due to disappointing growth or cautious outlooks, causing the Nifty Midcap Index to slip despite the broader market gains. — [Source](https://www.cnbctv18.com/market/sensex-nifty-rally-for-7th-straight-day-3-reasons-behind-d-streets-winning-streak-20028940.htm)
- 2026-11-05 — The Hindu: **Tube Investments Q2 consolidated profit grows 39%, standalone PAT flat** — Tube Investments of India reported a 39% growth in consolidated net profit to ₹420 crore for Q2 FY27, driven by strong performance from subsidiaries CG Power and Shanthi Gears, while its standalone profit remained flat at ₹188 crore. The company's Board approved capital expenditure of up to ₹83 crore to expand capacity at its Cold Rolled Steel Strips facility in Avadi, with completion expected in FY 2027-28. Following the results, TII shares rose 2.20% on the NSE. — [Source](https://www.thehindubusinessline.com/companies/tube-investments-q2-consolidated-profit-grows-39-standalone-pat-flat/article71669894.ece)
- 2026-11-05 — FREEPRESSJOURNAL.IN: **Tube Investments Q2 FY27 Earnings Shift Into Top Gear As Net Profit Soars 39% To ₹420.58 Crore, Revenue Zooms 33% To ₹7,330 Crore While Board Clears ₹83 Crore Expansion Plan** — Tube Investments of India Limited reported a 39.2% year-on-year increase in consolidated net profit to ₹420.58 crore and a 32.7% rise in revenue to ₹7,330.31 crore for Q2 FY27. The Murugappa Group company also approved an ₹83 crore capital expenditure plan to expand cold-rolled steel strips manufacturing capacity at its Avadi facility, expected to be completed by FY28. — [Source](https://www.freepressjournal.in/business/tube-investments-q2-fy27-earnings-shift-into-top-gear-as-net-profit-soars-39-to-42058-crore-revenue-zooms-33-to-7330-crore-while-board-clears-83-crore-expansion-plan)
- 2026-10-21 — BUSINESS: **Midcap 100, Smallcap 100 index down 1%; MRF, Biocon, Swiggy at 52-week lows** — Yes Bank, PI Industries, MRF, Swiggy, Biocon, NMDC, Tube Investments of India, Vishal Mega Mart, Voltas and Max Financial Services from the Midcap 100 index hitting their respective 52-week lows. — [Source](https://www.business-standard.com/markets/news/midcap-100-smallcap-100-index-down-1-mrf-biocon-swiggy-at-52-week-lows-126102100269_1.html)
- 2026-10-07 — BUSINESSTODAY: **Auto, banking, real estate shares fall ahead of RBI policy outcome** — Rate sensitive stocks, auto, banking, BSE Auto Index, BSE Bankex, Uno Minda, Motherson Sumi, Balkrishna Industries, RBI policy, RBI monetary policy — [Source](https://www.businesstoday.in/markets/trending-stocks/story/auto-banking-real-estate-shares-fall-ahead-of-rbi-policy-outcome-560017-2026-10-07)
- 2026-09-30 — The Hindu: **Tube Investments to invest ₹250 crore in TI Clean Mobility** — Tube Investments to invest ₹250 crore in TI Clean Mobility via Series C CCPS to scale electric mobility operations. — [Source](https://www.thehindubusinessline.com/markets/tube-investments-to-invest-250-crore-in-ti-clean-mobility/article71526627.ece)
- 2026-09-26 — REDIFF.COM: **Why Tata Sons IPO May Get Lower Valuation** — Holding-company discounts and losses at key unlisted ventures could weigh on Tata Sons' IPO valuation, though its diversified portfolio may still command a premium. — [Source](https://www.rediff.com/business/report/why-tata-sons-ipo-may-get-lower-valuation/20260926.htm)
- 2026-09-21 — Mint: **Nifty Auto looks set to snap a 5-month winning streak - Should you buy the dip in auto, auto ancillary stocks?** — After a 5-month winning streak, Nifty Auto and major auto stocks are in decline due to profit booking and economic concerns. With rising oil prices and impending interest rate hikes, experts suggest selective buying.  — [Source](https://www.livemint.com/market/stock-market-news/nifty-auto-looks-set-to-snap-a-5-month-winning-streak-should-you-buy-the-dip-in-auto-auto-ancillary-stocks-11789976254551.html)
- 2026-08-26 — CNBC-TV18: **11:11 | Chola Investment exclusive, Dolly Parton no more, Groww Block deal and more** — Hello and Welcome to CNBC-TV18's Newsletter. Today, we take a look at Chola Investment's Vellayan Subbiah exclusive to CNBC-TV18, Country music legend Dolly Parton passes away, Groww Block Deal, the US pauses visa screening and more — [Source](https://www.cnbctv18.com/business/1111-chola-investment-exclusive-dolly-parton-no-more-groww-block-deal-and-more-19977108.htm)
- 2026-08-26 — CNBC-TV18: **Vellayan Subbiah's group stocks: CG Power, Chola Investment, Tube Investments soar up to 22x** — The CG Power stock has risen 22 times, while the Cholamandalam Investment and Tube Investments stocks have increased 4.8 times and 3.7 times, respectively, from 2021 to 2026. The total market cap of these three stocks in January 2021 was ₹54,800 crore, which has now surged to ₹2.98 lakh crore. — [Source](https://www.cnbctv18.com/market/cholamandalam-investment-tube-cg-power-share-price-vellayan-subbiah-leadership-2021-to-2026-stock-growth-average-market-cap-19977256.htm)
- 2026-08-24 — CNBC-TV18: **Why this Murugappa Group stock is up 40% in two days** — The sharp rally comes after promoter Tube Investments of India acquired an additional 2.7% stake in Shanthi Gears through block deals. Following the transaction, Tube Investments' stake in Shanthi Gears has increased to 73.2%, from around 70.5% previously. — [Source](https://www.cnbctv18.com/market/shanthi-gears-share-price-why-this-murugappa-group-stock-is-up-40-percent-in-two-days-19975647.htm)
- 2026-08-23 — MONEYCONTROL: **Broader indices outperform; Smallcap index scales fresh high** — stock market, bse, nse, broader indices, smallcap index — [Source](https://www.moneycontrol.com/news/business/markets/broader-indices-outperform-smallcap-index-scales-fresh-high-14013166.html)
- 2026-08-21 — CNBC-TV18: **Why did Sensex, Nifty end flat today? 5 big stock and sector moves explained** — The Nifty Bank gained 152 points to 57,762, while the Midcap index slipped 26 points to 63,646. Market breadth favoured advances, with the advance-decline ratio at 1:1. — [Source](https://www.cnbctv18.com/market/why-did-sensex-nifty-end-flat-today-5-big-stock-and-sector-moves-explained-19974527.htm)
- 2026-08-21 — CNBC-TV18: **Here's why shares of this Murugappa Group company gained over 18% on Friday** — Shanti Gears shares surged 15% after parent company Tube Investments increased its stake to 73.1% by acquiring an additional 20.6 lakh shares via block deals. — [Source](https://www.cnbctv18.com/market/shanthi-gears-share-price-parent-tube-investments-increases-stake-block-deal-returns-2026-19974210.htm)
- 2026-08-21 — MONEYCONTROL: **Price Action | Urban Company gains 5% after UBS initiates coverage with 'buy'; Shanthi Gears jumps 14% after Tube Investments raises stake** — Buzzing Stocks — [Source](https://www.moneycontrol.com/news/business/markets/price-action-urban-company-gains-5-after-ubs-initiates-coverage-with-buy-shanthi-gears-jumps-14-after-tube-investments-raises-stake-14012032.html)
- 2026-08-18 — CNBC-TV18: **Stock market fall explained: Sensex drops 493 points, Nifty below 24,200 — 6 key reasons** — The Nifty slipped below 24,200, while the Nifty Bank fell 235 points to 57,262 and the Midcap Index declined 278 points to 63,539. All four major indices ended with losses of more than 0.3%. — [Source](https://www.cnbctv18.com/market/stock-market-fall-explained-sensex-drops-493-points-nifty-below-24200-6-key-reasons-19971802.htm)
- 2026-08-18 — BUSINESSTODAY: **Milky Mist shares get 'Buy from DAM Capital; Vedanta Aluminium receives 'Sell' call from Ambit** — Milky Mist target price, Milky Mist share price, Vedanta Aluminium share price, Vedanta Aluminium share price today — [Source](https://www.businesstoday.in/markets/stocks/story/milky-mist-shares-get-buy-from-dam-capital-vedanta-aluminium-receives-sell-call-from-ambit-549733-2026-08-18)
- 2026-08-18 — Times of India: **Murugappa Group sees EV volumes grow, braces for firm cell prices** — Murugappa Group’s Tube Investments sees EV volumes rise and losses narrow, but expects firm battery cell prices for 2-3 quarters amid global supply tightness. — [Source](https://timesofindia.indiatimes.com/city/chennai/murugappa-group-sees-ev-volumes-grow-braces-for-firm-cell-prices/articleshow/133301390.cms)
- 2026-08-17 — CNBC-TV18: **Sensex Today | Stock Market LIVE Updates: Nifty finds resistance at 24,350; ITC hits 52-wk low** — Stock Market Live Updates: We are in the second half of the day's trade, and the markets have managed a remarkable recovery from the lows. The Nifty has recovered over 130 points from lows, moving above the 24,350 mark. The Nifty Bank has turned green, jumping by over 150 points. Hindalco, HDFC Life and Bajaj Fin are the top gainers. — [Source](https://www.cnbctv18.com/market/stock-market-live-updates-sensex-nifty-50-today-reliance-hdfc-bank-cochin-nmdc-voltas-gmr-jupiter-share-price-liveblog-19970547.htm)
- 2026-08-14 — CNBC-TV18: **Tube Investments Q1 profit falls 15% as margins contract despite revenue growth** — Murugappa Group company's consolidated profit stood at ₹168.6 crore in the June quarter, compared with ₹198.9 crore in the corresponding quarter of the previous year. Revenue rose 17% to ₹6,215.1 crore from ₹5,309.1 crore a year earlier. — [Source](https://www.cnbctv18.com/market/earnings/tube-investments-q1-profit-falls-15-as-margins-contract-despite-revenue-growth-19969684.htm)
- 2026-08-14 — CNBC-TV18: **Sensex Today | Stock Market LIVE Updates: Nifty Auto down about 140 points; Tata Motors PV leads loses** — Sensex Today | Stock Market LIVE Updates: We are the half way mark of the day's trade and the markets remain in red. The markets are under pressure, with the Nifty index falling towards the 24,300 mark. The Nifty Bank is also trading on similar ground, falling below the 57,500 mark. Tata Motors PV, Hindalco, Max Health are the top losers. — [Source](https://www.cnbctv18.com/market/stock-market-live-updates-sensex-nifty-50-today-sensex-hdfc-bank-nifty-bank-q1-earnings-tata-motors-max-fin-defence-bdl-share-price-liveblog-19969121.htm)

## Business profile

**Strategic vision:** Engineering and manufacturing of tubes, chains, and bicycles.

### Business segments
- **Mobility:** This segment includes TI Cycles of India, focusing on bicycles and solutions for fitness, recreation, and personal mobility.
- **Engineering:** This division manufactures precision tubes through Tube Products of India and also includes TPI CRSS and TI Machine Building.
- **Metal Formed Products:** This segment is involved in precision value-added sheet metal formed components, including car door frames, window and guide channels, impact beams, and hydro-formed parts.
- **Other Businesses:** This includes products such as TI Macho TMT Bars, TIDC Industrial Chains, and TI Optoelectronic Solutions.

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## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/tiindia
Markdown representation: https://faxioms.com/stocks/tiindia?render=md