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Informist, Wednesday, May 13, 2026

By Astha Oriel and Ashutosh Pati 

NEW DELHI/MUMBAI – Tube Investments of India Ltd. plans to incur a capital expenditure of INR 3 billion-INR 3.5 billion in its core operations in 2026-27 (Apr-Mar), the company's top management said in a post-earnings analyst conference call Wednesday. For its subsidiaries, the company has planned to incur a capital expenditure of INR 3 billion in FY27. 

"Some money will be required depending on how operations are scaling up for the TI Clean Mobility Pvt. Ltd., which is our electric vehicle business, and TI Medical...All put together, we have a rough estimate of around INR 300 crore (INR 3 billion) going into the subsidiaries also," a top company official said.  More

The company sees strong volume growth in the June quarter of FY27, the management said. For its electric three-wheeler vehicle business also, the company sees an increase in volumes. "We are definitely seeing upswing in the demand for the electric vehicles, especially in our electric truck segment, and also in the small commercial vehicle segment. In fact, we are sitting on a very good order book," the official said. 

For its heavy electric truck business, however, the company is facing challenges of customer financing and charging infrastructure. "The challenges are primarily on account of deployment. And in deployment, there are two parts to it. One is financing because the average deployment is for about 50 to 100 trucks, which translates into about more than INR 100 crore (INR 1 billion) which is required to be put by the service provider. And second is the challenges to set up the charging infrastructure for a given route," the official said.

The management expects to deploy electric trucks in Apr-Jun and Jul-Sept. The company is not "giving up" on battery swapping technology, the management said. "One of the positives of the (battery) swap is it takes less than seven to 10 minutes to do a swap. The not-so-positive for swap is the huge setup cost, which our swapping infrastructure requires... So as far as we are concerned, we are not giving up on swap as a technology," the official said, adding that the company is ready with its battery swapping technology, and is working on couple of orders for battery swapping. The official, however, said that for long-haul travel, higher battery capacity and fast charging could be the way forward. 

The company expects its medical equipment business, TI Medical, to grow 20% year-on-year in FY27. It expects its medical suture business to grow 15-20%. The management said it has completed asset purchase of the Medicare facility in Ambala, Punjab for the intravenous canula business, and plans to get necessary approvals in the June quarter. The company expects to start commercial operations of the plant in the September quarter.

For the March quarter, the company saw a 65% on-year fall in its net profit to INR 2.84 billion on a revenue of INR 22.79 billion. Tube Investments reported its earnings for the March quarter during market hours. Shares of the company came slightly off lows and closed 0.4% lower at INR 2,941 Wednesday on the National Stock Exchange after falling almost 1% soon after the earnings were announced.  End

Edited by Tanima Banerjee

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