Tube Investments of India, part of the Murugappa Group, has approved a capital investment of ₹170 crore to expand its fine blanking products business. The expansion includes the establishment of a new manufacturing facility in western India and the expansion of an existing facility in southern India. The project is expected to be completed by the financial year 2026 and will be funded through internal accruals.
The company stated that the expansion is aimed at enhancing its manufacturing capabilities and supporting a broader product portfolio. However, the specific increase in production capacity has not been disclosed.
In addition, the company declared an interim dividend of ₹2 per share for the financial year 2025.
Financial Performance
For the quarter ended December 31, 2024, the company reported a standalone profit after tax of ₹161 crore, compared to ₹157.5 crore in the same period the previous year. Total revenue from operations increased to ₹1,910 crore from ₹1,898 crore.
Segment-wise, the engineering division reported a decline in revenue to ₹1,212 crore from ₹1,229 crore, while revenue from the metal-formed products division increased to ₹400 crore from ₹392 crore. The mobility division’s revenue stood at ₹142 crore, down from ₹147 crore in the corresponding quarter.
Profit before tax, after exceptional items, was reported at ₹212 crore, up from ₹210 crore.
On a consolidated basis, the company recorded a revenue of ₹4,812 crore for the quarter, compared to ₹4,197 crore in the previous year. The profit before share of profit from associates, joint ventures, exceptional items, and tax was ₹427 crore, up from ₹395 crore.