Tube Investments of India Limited — Q2FY27 earnings call summary

• Capex and investments funded internally; focus on adjacencies and new product launches
• TICMPL revenue Rs.476 Cr in H1 FY27, targeting EBITDA breakeven for truck business by Q4 FY27
• Standalone Q2 FY27 revenue Rs.2710 Cr (+28% y-y); PBT Rs.253 Cr (flat y-y); ROIC 44%
• Consolidated Q2 FY27 revenue Rs.7330 Cr (+33% y-y); profit before tax Rs.643 Cr (+40% y-y)
• Electric vehicle volumes growing; truck market share ~26%, SCV ~25%, tractor ~25%, 3W cargo low single digit
• Commodity price pressures impacting margins; price hikes and cost reduction underway
• Multiple analyst queries on TICMPL profitability and EV market competition; management confident on roadmap
• Medical business growing 20%+, aiming higher double-digit margins long term

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