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Auto Parts & Equipment company Tube Investments of India announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
Consolidated:
- TII’s consolidated revenue: Rs 4,490 crore
- Profit (before share of profit of an Associate/Joint Venture, Exceptional Items and Tax): Rs 401 crore
- CG Power and Industrial Solutions Ltd consolidated revenue: Rs 2,192 crore
- Profit before tax: Rs 301 crore
- Shanthi Gears Ltd. revenue: Rs 154 crore
- Profit before tax: Rs 32 crore
Standalone:
- Revenue: Rs 1,962 crore (increase from Rs 1,663 crore in the same quarter previous year)
- PBT: Rs 318 crore (increase from Rs 301 crore in the same quarter previous year)
- Free Cash Flow: Rs 104 crore
FY24 Financial Highlights:
Consolidated:
- TII’s consolidated Revenue: Rs 16,890 crore
- Profit (before share of profit/(loss) of an Associate/Joint Venture, Exceptional Items and Tax): Rs 1,683 crore
- CG’s consolidated Revenue: Rs 8,046 crore
- Profit before tax: Rs 1,158 crore
- Shanthi Gears Ltd. Revenue: Rs 536 crore
- Profit before tax: Rs 110 crore
Standalone:
- Revenue: Rs 7,611 crore (increase from Rs 7,236 crore of previous year)
- PBT: Rs 970 crore (increase from Rs 876 crore of previous year)
- ROIC: 54% (decrease from 55% in the previous year)
- Cumulative Free Cash Flow: Rs 376 crore (51% of PAT)
Commenting on the financial results, M.A.M Arunachalam (known as Arun Murugappan), Chairman, Tube Investments of India, said "TII demonstrated resilience, achieving a consistent growth in Consolidated Profits before tax, driven by a strategic focus on Cost Reduction Initiatives and operational efficiency through Kaizen improvements. Exports during the year have grown by 14%. Notably, our subsidiaries, CG Power and Industrial Solutions Ltd, as well as Shanthi Gears Ltd, sustained their impressive performance. CG Power & Industrial Solutions Limited secured approval from the Union Cabinet under India’s Semi-conductor scheme to establish an Outsourced Semiconductor Assembly and Test (OSAT) facility, with an investment of around Rs 7,600 crore. over 5 years. This investment will be supported by Government Subsidies, Equity Contribution, and bank borrowings, with technology and Joint venture partnerships from Renesas Electronics Corporation, Japan, and Stars Microelectronics, Thailand. Additionally, TII and its subsidiary, TI Clean Mobility Private Limited, forged an agreement with GEF to raise Rs.580 crore through Compulsory Convertible Preference Shares."
FAQ’s on Tube Investments of India Ltd Shares
