Murugappa Group company Tube Investments of India reported a 15% year-on-year decline in consolidated profit for the quarter ended June 30, 2026, even as revenue grew at a double-digit pace.
The decline in profit came alongside a contraction in operating margin, with EBITDA remaining broadly unchanged from the year-ago period.
Its 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.
EBITDA was almost flat at ₹547.8 crore against ₹546.2 crore in the year-ago quarter. As a result, EBITDA margin narrowed to 8.8% from 10.3% a year earlier.
Segment performance
Engineering remained one of the largest contributors to the company’s segment revenue, with revenue rising to ₹1,566.26 crore in the June quarter from ₹1,298.24 crore in the corresponding quarter last year.
Industrial Systems revenue increased to ₹1,789.54 crore from ₹1,691.54 crore, while Power Systems revenue rose to ₹1,398.24 crore from ₹1,070.14 crore in the year-ago quarter.
Metal Formed Products reported revenue of ₹407.79 crore, compared with ₹365.76 crore a year earlier. Mobility revenue increased to ₹250.42 crore from ₹198.71 crore, while Electric Vehicles revenue rose to ₹239.20 crore from ₹135.44 crore.
Gears and Gear Products revenue stood at ₹115.13 crore against ₹134.70 crore in the corresponding quarter last year. Semiconductor revenue declined to ₹94.03 crore from ₹108.49 crore, while Medical revenue rose to ₹58.57 crore from ₹47.53 crore.
Revenue from Others stood at ₹424.66 crore compared with ₹356.87 crore a year earlier. Un-allocable operating income was ₹0.98 crore against ₹3.37 crore in the year-ago quarter.
Subsidiary performance
CG Power and Industrial Solutions Ltd, a subsidiary in which Tube Investments holds a 56.29% stake, reported consolidated revenue of ₹3,281 crore during the quarter, compared with ₹2,878 crore in the corresponding quarter of the previous year. Its profit before tax rose to ₹423 crore from ₹364 crore a year earlier, as per a press release filed at NSE.
Shanthi Gears Ltd, a subsidiary in the Gears business in which Tube Investments holds a 70.46% stake, reported revenue of ₹115 crore against ₹135 crore in the corresponding quarter last year. Profit before tax declined to ₹14 crore from ₹31 crore.
During the quarter ended June 30, 2026, the company said that it allotted 15,450 equity shares to employees following the exercise of options granted under its Employees Stock Option Scheme, ESOP 2017.
Total outstanding employee stock options stood at 8,93,861 as of June 30, 2026, compared with 9,09,311 as of March 31, 2026 and 3,53,701 as of June 30, 2025.
Tube Investments of India shares were trading 1.47% lower at ₹2,739 on the NSE as of 3:14 pm on August 14, with the stock down ₹41 from the previous close.
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