Tube Investments of India Limited (TIIL) has successfully obtained no-objection letters from the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) for a significant change in its shareholding structure. The approval pertains to the reclassification of Yanmar Coromandel Agrisolutions Private Limited from the Promoter and Promoter Group Category to the Public Category.

Key Details of the Approval

Regulatory Context

The reclassification process falls under Regulation 31A of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. This regulation governs the reclassification of promoters or promoter group entities in listed companies.

Implications and Next Steps

With this approval, Tube Investments of India Limited is expected to update its shareholding pattern in subsequent filings. The company will need to ensure compliance with all relevant disclosure requirements related to this reclassification, as mandated by SEBI regulations.

Shareholders and market participants should note that this reclassification may impact the company's promoter holding percentage and potentially influence market perceptions of the stock. However, it's important to emphasize that this is a structural change in shareholding classification and does not necessarily reflect on the company's operational or financial performance.

Investors are advised to monitor further announcements from Tube Investments of India Limited for any additional information or implications stemming from this reclassification.

Tube Investments of India Limited (TII) has reported a robust performance for the second quarter of fiscal year 2026, with standalone profit before tax (PBT) growing by 11.5% year-on-year. The company also witnessed a significant uptick in demand following recent GST rate changes.

Financial Highlights

TII's standalone financial results for Q2 FY2026 show resilience and growth:

At the consolidated level, TII reported revenue of ₹5,523.00 crores, compared to ₹4,925.00 crores in the same quarter last year, marking a significant increase.

Segment Performance

Engineering Division

• Revenue: ₹1,382.00 crores (vs ₹1,323.00 crores in Q2 FY2025)
• PBIT: ₹164.00 crores (vs ₹162.00 crores in Q2 FY2025)
• Volume growth of approximately 10% year-on-year

Metal Formed Products

• Revenue: ₹408.00 crores (vs ₹404.00 crores in Q2 FY2025)
• PBIT: ₹44.00 crores (vs ₹46.00 crores in Q2 FY2025)

Mobility Business (Bicycles)

• Revenue: ₹194.00 crores (vs ₹168.00 crores in Q2 FY2025)
• PBIT: ₹4.00 crores (vs ₹0.36 crores loss in Q2 FY2025)

Other Segments

• Revenue: ₹227.00 crores (vs ₹243.00 crores in Q2 FY2025)
• PBIT: ₹18.00 crores (vs ₹9.00 crores in Q2 FY2025)

Post-GST Demand Surge

Mukesh Ahuja, Managing Director of TII, noted a significant uptick in demand following the GST rate changes implemented on September 22nd. "October as well as November, both seems to be very very strong months like earlier festival months used to be but this time it is much better," Ahuja commented.

EV Business Performance

TI Clean Mobility, the company's EV arm, reported strong growth:

• 21% year-on-year revenue growth
• 31% quarter-on-quarter revenue growth

EV sales volumes for Q2 FY2026:

• Three-wheelers: 2,082 units
• Heavy Commercial Vehicles: 44 units
• Small Commercial Vehicles: 167 units
• E-tractors: 100 units

Future Outlook

TII plans to invest ₹300.00-400.00 crores in capital expenditure for its base business in the coming year. The company is also exploring new verticals under TI Medical and considering investments in TI Clean Mobility.

Vellayan Subbiah, Vice Chairman of TII, expressed confidence in the company's growth trajectory, targeting 12-15% PBT growth for the core business in the coming year.

As Tube Investments of India continues to diversify its portfolio and invest in emerging sectors like EVs and medical devices, the company appears well-positioned to capitalize on the evolving market dynamics and sustain its growth momentum.