Tube Investments of India Ltd (BOM:540762)
₹ 3562.05 -48.65 (-1.35%) Market Cap: 688.97 Bil Enterprise Value: 661.90 Bil PE Ratio: 59.73 PB Ratio: 12.91 GF Score: 96/100
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Q4 2024 Tube Investments of India Ltd Earnings Call Transcript

May 14, 2024 / 04:30AM GMT
Release Date Price: ₹3756.2 (-4.45%)

Key Points

Positve
  • Tube Investments of India Ltd (BOM:540762) reported a significant increase in revenue for the quarter, reaching INR1,962 crores compared to INR1,663 crores in the same quarter the previous year.
  • The company declared an interim dividend of INR2 per share in February 2024 and has recommended a final dividend of INR1.50 per share for the financial year 2023-24.
  • The engineering business showed strong performance with quarterly revenue of INR1,276 crores, up from INR1,044 crores in the corresponding quarter of the previous year.
  • Exports grew by 14% during the year, indicating a successful expansion into international markets.
  • Subsidiaries CG Power and Shanthi Gears sustained impressive performance, contributing positively to the consolidated results.
Negative
  • The Mobility business reported a loss before interest and tax of INR9 crores for the quarter, compared to a loss of INR5 crores in the same quarter the previous year.
  • The company's ROIC decreased slightly to 54% for the year ended March 31, 2024, from 55% in the previous year.
  • There were substantial increases in other expenses during the fourth quarter, including political contributions, which impacted reported margins.
  • The metal formed products business saw a decline in PBIT for the quarter, dropping to INR42 crores from INR45 crores in the corresponding quarter last year.
  • The EV business, particularly the three-wheeler segment, faced challenges due to changes in government incentive schemes, impacting primary sales in March.
Operator

Ladies and gentlemen, good day and welcome to Tube Investments' Q4 and FY24 earning conference call, hosted by IIFL Securities Limited. (Operator Instructions) Please note that this conference is being recorded.

I now hand the conference over to Mr. Anupam Gupta from IIFL Securities. Thank you, and over to you, sir.

Anupam Gupta
IIFL Securities Limited - Analyst

Thanks, [Ria]. And good morning, everyone, and welcome to the results conference call for Tube Investments of India for FY24. From the management, we have Mr. Vellayan Subbiah, Executive Vice Chairman for TII; Mr. Arun Arunachalam, Executive Chairman for TII; Mr. Mukesh Ahuja, Managing Director; Mr. A. N. Meyyappan, Chief Financial Officer; Mr. K. R. Srinivasan, President and Whole-time Director for the Metal Formed Products business; Mr. Shivdeep Singh Jammu, Vice President for TPI; Mr. N. Govindarajan, CEO for 3xper Innoventure; Mr. K. K. Paul, CEO for TICMPL; Mr. S. Gopalakrishnan, CFO for TICMPL; and Mr. K. Murali, President for Business Development.

To start off, I'll hand it

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