Tube Investments Q4 Results: Shares rise as profit jumps 84%, margin expands

Tube Investments of India Ltd reported a strong set of earnings for the fourth quarter of FY26 on Wednesday, driven by robust operating performance and margin expansion across businesses.

The company posted a net profit of ₹85.45 crore for the quarter, up 83.6% from ₹46.53 crore in the corresponding period last year. Revenue rose 20.7% year-on-year to ₹6,215 crore, compared with ₹5,150 crore a year earlier.

Operating performance improved significantly during the quarter, with EBITDA rising 73% to ₹583 crore from ₹337 crore in the year-ago period. EBITDA margin expanded to 9.4% from 6.5%, aided by improved business performance and operating leverage.

Ahead of the earnings announcement, shares of Tube Investments of India rose over 3% on the NSE and touched an intraday high of ₹3,070.70.

The company said return on invested capital (ROIC) stood at 44% for FY26, unchanged from the previous year. Free cash flow for the March quarter came in at ₹313 crore, while cumulative free cash flow for the full year stood at ₹826 crore, equivalent to 100% of profit after tax.

The board recommended a final dividend of ₹1.50 per share for FY26. The company had earlier declared and paid an interim dividend of ₹2 per share in February 2026.

Tube Investments said consolidated profit before share of profit from associates and joint ventures, exceptional items, loss on fair valuation of CCPS and tax stood at ₹516 crore for the quarter, compared with ₹479 crore a year ago.

Among subsidiaries, CG Power and Industrial Solutions, in which Tube Investments holds a 56% stake, reported strong growth during the quarter. CG Power posted revenue of ₹3,442 crore, up from ₹2,753 crore a year earlier, while profit before exceptional items and tax rose to ₹490 crore from ₹384 crore.

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Meanwhile, Shanthi Gears, the company’s gears business subsidiary in which it holds a 70% stake, reported weaker performance. Revenue declined to ₹135 crore from ₹153 crore a year earlier, while profit before exceptional items and tax fell to ₹25 crore from ₹31 crore.

Tube Investments of India, part of the Murugappa Group, operates across engineering, mobility, metal-formed products and industrial businesses, with interests spanning bicycles, automotive components, electric mobility and precision engineering.