Analyst Concall
Tube Investments eyes mergers, acquisitions to expand ops
This story was originally published at 18:14 IST on 5 November 2025
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--Tube Invest: Plan to enter e-rickshaw segment latest by Q4
--CONTEXT: Comments by Tube Invest mgmt in post-earnings analyst concall
--Tube Invest: Plan to enter cargo vehicles segment latest by Q4
--Tube Invest: Targeted capex for FY27 is INR 3 bln-INR 4 bln
--Tube Invest: Looking at mergers and acquisitions to expand business
By Shreya Shetty and Avishek Rakshit
MUMBAI/KOLKATA - Tube Investments of India Ltd. is eyeing acquisitions to further its business, and is looking at investing up to INR 4 billion in the coming financial year, a top company official said on Wednesday. This follows the company picking up 25% stake in Aerostrovilos Energy Pvt. Ltd. in September, which could mark its foray into energy-related sectors.
"...we are looking at some M&A (mergers and acquisitions) for new lines of business that are kind of in the same area that we are, but can kind of potentially provide growth. So I'd say that up to 200 to 300 crores (INR 2-INR 3 billion) can get allocated towards that," the official said in a post-earnings analyst conference call.
The company plans to enter both the cargo and e-rickshaw segments by the end of the year as it seeks to scale up its volumes. "So overall, three-wheeler business, we will see the uptake, if not in quarter three, definitely from quarter four onwards," the official said.
Despite intense competition in the heavy commercial electric vehicle segment, the company is very bullish about the second half of 2025-26 (Apr-Mar). "...I think from a product standing point of view or a customer feedback and product performance point of view, I think we are very, very bullish and confident about H2," the official said.
The company's medical division, TI Medical, is looking at expansion with the addition of new verticals, the official said. The division is expected to continue delivering strong double-digit growth going ahead, he said.
In its engineering segment, the company said it is running at 80–85% of the total capacity. The company's plant in Nashik, Maharashtra, has just commenced manufacturing cold-rolled strips, and its plant in Phaltan, Maharashtra, has also started commercial production this month. "So, we are covered at least for next one to two years for having enough capacity to drive the growth," the official said. End
Edited by Avishek Dutta
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