Tega Industries Limited announced its Q3FY26 financial results for the quarter ended December 31, 2025, revealing contrasting performance between its standalone and consolidated operations. The mining equipment and consumables manufacturer faced revenue pressures in its domestic operations while maintaining stability at the group level.

Standalone Financial Performance

The company's standalone operations experienced significant headwinds during Q3FY26. Revenue from operations declined 24.5% year-on-year to ₹1,867.72 million compared to ₹2,474.57 million in Q3FY25.

Despite the revenue decline, the company benefited from favorable inventory adjustments, with changes in inventories showing a positive impact of ₹355.82 million compared to an increase of ₹187.73 million in the previous year. Cost of materials consumed increased to ₹1,062.23 million from ₹989.55 million, while employee benefits expense rose to ₹243.59 million from ₹225.66 million.

Consolidated Results Show Resilience

At the consolidated level, Tega Industries demonstrated better resilience with revenue from operations remaining relatively stable at ₹4,037.06 million compared to ₹4,092.67 million in Q3FY25, representing a marginal decline of 1.4%.

The consolidated operations benefited from joint venture contributions, with share of profit from joint ventures amounting to ₹13.51 million compared to ₹11.15 million in the previous year.

Segment-wise Performance

Tega Industries operates through two primary segments: Consumables and Equipment. The Consumables segment generated revenue of ₹3,585.36 million in Q3FY26, while the Equipment segment contributed ₹475.27 million.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, standalone revenue declined 13.8% to ₹5,873.42 million from ₹6,817.14 million in the corresponding period last year. However, consolidated revenue showed growth of 5.7% to ₹11,651.52 million from ₹11,025.43 million.

Capital Raising and Corporate Actions

During the quarter, Tega Industries completed a significant capital raising exercise through preferential allotment. The company allotted 8,592,206 equity shares of face value ₹10 each at an issue price of ₹1,994 per share on November 28, 2025. This raised approximately ₹17.13 billion and increased the paid-up equity share capital from ₹665.35 million to ₹751.28 million.

Regulatory and Compliance Updates

The company noted the implementation of new labor codes by the Government of India effective November 21, 2025. Based on actuarial valuation, Tega Industries estimated an aggregate increase of ₹45.75 million in gratuity liability and compensated absences for standalone operations and ₹63.23 million for consolidated operations due to these regulatory changes.

The results were reviewed by the Audit Committee and approved by the Board of Directors on February 12, 2026, with statutory auditors Walker Chandiok & Co LLP issuing unmodified review reports for both standalone and consolidated financial results.

Tega Industries has received formal disclosure from HDFC Mutual Fund regarding a substantial acquisition that has increased the fund house's shareholding to 5.02% of the company's paid-up equity share capital. The disclosure, made under SEBI Regulation 29(1), was communicated to the company on February 02, 2026.

Acquisition Details

HDFC Mutual Fund acquired 1,00,000 shares of Tega Industries through open market transactions on January 29, 2026. This acquisition represents 0.13% of the company's total share capital and increased the fund's aggregate holdings from 4.89% to 5.02%.

Company Share Capital Structure

Tega Industries' paid-up equity share capital stands at Rs. 75,12,76,980/-, comprising 7,51,27,698 equity shares of Rs. 10/- each. The share capital structure remained unchanged following this acquisition, with no dilution through convertible securities or warrants.

HDFC Mutual Fund Schemes Involved

The acquisition was made through multiple HDFC Mutual Fund schemes managed by HDFC Trustee Company Limited:

• HDFC Children's Fund
• HDFC Balanced Advantage Fund
• HDFC Small Cap Fund

The fund house confirmed that it does not belong to the promoter or promoter group of Tega Industries.

Regulatory Compliance

The disclosure was signed by Dinesh Bhakade, Deputy Vice President - Compliance at HDFC Asset Management Company Limited, which serves as the investment manager for HDFC Mutual Fund. The formal communication was addressed to Ms. Manjuree Rai, Company Secretary & Compliance Officer of Tega Industries Limited at their Kolkata office.

Holdings Summary

The acquisition brings HDFC Mutual Fund's total shareholding in Tega Industries to 37,73,756 shares, representing 5.02% of the company's paid-up equity share capital. The fund house holds no encumbered shares, voting rights other than through equity shares, or any convertible securities in the company.