Tube Investments of India Ltd (TIINDIA) Q2 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

Cofacto Research Published November 01, 2026 4 min read

Tube Investments of India Ltd (TIINDIA) is a Murugappa Group engineering company making precision steel tubes, cold rolled steel strips, chains and metal formed products, with growing bets in electric mobility, medical devices and a CDMO business. This quarter's print will speak to whether steel-price pass-through is restoring margins as management guided, and whether EV losses have truly peaked after the Rs. 250 Cr Series C infusion into TI Clean Mobility.

Quick Details

Results date	November 05, 2026
Quarter	Q2 FY 2026-2027
Previous quarter revenue	Rs. 2,366.20 Cr (standalone, Q1 FY27)
Previous quarter PAT	Rs. 158.62 Cr (standalone, Q1 FY27)
Market cap	Rs. 41,037.33 Cr
CMP	Rs. 2,120.0

Tube Investments of India Ltd Q2 Results Date and Time

Per the board-meeting intimation, the Board will meet on 5 November 2026 for Q2/H1 FY27 results, with the trading window shut till 7 November 2026.

The Q2 FY27 earnings call is scheduled for 6 November 2026 at 10:00 AM IST, via IIFL Capital. Executive Chairman M A M Arunachalam, Vice Chairman Vellayan Subbiah, MD Mukesh Ahuja and CFO AN Meyyappan are slated to participate.

Key Things To Watch

Margin recovery and FY27 growth guidance tracking: Management's own scorecard, latest-to-oldest, is the first checkpoint for the steel pass-through.

Margin recovery — full steel-price recovery including Q1 FY27 under-recovery, with 'margin neutralization' guided for the 'coming quarters'; check Q2 FY27 Engineering PBIT (Q1 FY27: Rs. 153 Cr flat on Rs. 1,566 Cr revenue) and MFP PBIT (Rs. 28 Cr at 7% margin) versus prior-year levels, which management confirmed both should revert to
Standalone FY27 guidance of 10% revenue growth and 12%–14% PBT growth — H1 FY27 standalone trends (Q1 FY27 PBT Rs. 212.74 Cr, -4.20% YoY) are the first checkpoint
Capex — standalone ~Rs. 350 Cr, Shanthi Gears ~Rs. 100 Cr, group Rs. 600–700 Cr excluding CG Power for FY27; new-venture infusion of a further Rs. 250 Cr anticipated in Q3 FY27 out of Rs. 750 Cr guided, with the Rs. 250 Cr Series C CCPS already allotted on 29 Sep 2026

EV loss trajectory and volume comps: Whether 'past peak quarterly losses' is holding despite battery cell costs not cooling.

EV PBIT loss versus Rs. 147.32 Cr in Q1 FY27 and Rs. 164.31 Cr in Q3 FY26, with one EV business guided to break even in FY27 and two more in FY28; heavy vehicles and three-wheelers guided to breakeven within 12–18 months of Feb 2026
Q2 FY27 volumes versus Q2 FY26 comps of 2,082 three-wheelers, 44 HCVs, 167 SCVs and 100 e-tractors, after Q1 FY27 delivered 1,924 three-wheelers, 86 HCVs, 347 SCVs, 22 tractors and 20–25 tippers (28-ton)
Deployment of the Rs. 250 Cr Series C CCPS into TICMPL businesses to scale the electric mobility business

Railway kick-in, Shanthi Gears and export overhang: Three pending items management has already flagged with timelines.

Railway/Vande Bharat revenue kick-in — commencement pushed to early FY2027 with prototype samples submitted in Q1 FY2027; Vande Bharat progress was guided at 'two or three quarters' from May 2026
Shanthi Gears order-book revival — guided at 'another one or two quarters' from Feb 2026; Q1 FY27 revenue was still Rs. 115 Cr (-14.81% YoY), with the stake now raised to 73.16% on 21 Aug 2026

Frequently Asked Questions

How much more will Tube Investments invest in its EV business?

Vice Chairman Vellayan Subbiah said incremental parent investment in the EV business will be 'at least Rs. 500 Crores' with his sense being a range of Rs. 500 Crores to Rs. 750 Crores. Separately, Rs. 250 Cr of a Rs. 750 Cr new-venture infusion was anticipated in Q3 FY27, after Rs. 250 Cr was deployed in Q4 of the last fiscal.

Which Tube Investments EV business will turn profitable first?

Management said the two businesses being pushed toward breakeven in the next 12 to 18 months (from Feb 2026) are heavy vehicles and three-wheelers, followed by SCV and then tractor. One EV business is guided to break even in FY27 and two more in FY28.

Will Tube Investments recover the margin impact of higher steel prices?

Management confirmed the recovery is cumulative — including the Q1 FY27 under-recovery, not just future price hikes — saying 'we will be able to recover fully' with a lag of sometimes two or three quarters. The MD also confirmed that both Engineering and MFP should revert to prior-year margin levels.

Why has Shanthi Gears revenue been declining?

Management attributed the decline to an order-book challenge amid market competitiveness, and is prioritising margins over volume, calling the slowdown temporary with revival expected in 'another one or two quarters' as stated in Feb 2026. Q1 FY27 revenue was still Rs. 115 Cr, down 14.81% year-on-year.