Highlights
- Revenue in Q2 was at Rs.1,667 Cr compared with Rs.1087 Cr of same period previous year.
- PBT (before exceptional items) was of Rs.164 Cr as against Rs.129 Cr in the same period previous year.
- ROIC (annualized) at 48% for the quarter ended 30th September 2021 compared with 43% in the previous year same period.
- Free Cash Flow (FCF) for the quarter was Rs.147 Cr due to improved NWC levels from Q1 FY22.
- TII’s consolidated Revenue for the quarter was Rs.3,262 Cr as against Rs.1,193 Cr in the corresponding quarter of the previous year. The profit before tax (before exception) for the quarter was at 287 Cr as against Rs. 136 Cr in the corresponding quarter of the previous year.
- CG Power and Industrial Solutions Ltd, a subsidiary company, in which the Company holds 52.61% stake, registered a consolidated revenue of Rs.1,454 Cr during the quarter as against Rs. 664 Cr in the corresponding quarter of the previous year. Profit before tax (before exceptional items) for the quarter was Rs.144 Cr as against a loss of Rs.37 Cr in the corresponding quarter of previous year
- Shanthi Gears Ltd., a subsidiary company in the Gears Business, in which the Company holds 70.47% stake, registered revenue of Rs.72 Cr during the quarter as against Rs. 54 Cr in the corresponding quarter of the previous year. Profit before tax for the quarter was at Rs.11 Cr as against Rs.8 Cr in the corresponding quarter of previous year.
Commenting on the financial results, Mr. M.A.M Arunachalam (known as Arun Murugappan), Chairman, Tube Investments of India Ltd : The results for the quarter are testimony of the resilience shown by the Company by bouncing back strongly with healthy performance with most of its businesses reaching or surpassing the pre-Covid levels. Engineering and Metal Formed Products division has witnessed good demand and exports performance has also significantly improved. I am also pleased to state that post TII’s acquisition of CG Power, the company is on its recovery path with very encouraging performance in all its business. With the impact of Covid receding our businesses have started full operations, however, the Company is taking adequate measures to monitor and control this to ensure steady operations.
