Analysts/Institutional Investor Meet/Con. Call Updates

Tube lnvestments of lndia Limited "Chola Crest'i No. C54-55 & Super B-4, Thiru - Vi - Ka lndustrial Estate, Guindy, Chennai-600 032. Tel: 91 44 42"17 7770-5 Email:tii-secretarial@tii.murugappa.com INDIA Website: wwwtiindia.com CIN: 1351 00TN2008P1C069496 11th November 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Sth Floor 1st Floor, New Trading Ring, Plot No.C/1, G Block Rotunda Building, P J Towers, Bandra-Kurla Complex, Bandra(E), Dalal Street, Fort, Mumbai 400 051 Mumbai 400 001 NSE Svmbol: TllNDlA BSE Scrio 540762 Dear Sir/Madam, Sub: Transcript of the conference group call with Analvsts and lnvestors held on 6th November 2026 Further to our letter dated 26th October 2026, we wish to inform that the transcript of the said conference group call held on 6th November 2026 is enclosed and the same has also been uploaded on our website pursuant to Regulations 30 & 46 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, under the link given below. http s : //ti i n d i a. c o m/f i n a n c i a I -i nfo rm ati o n/ Please take the above information on your record. Thanking you, Yours faithfully, For TUBE INVESTMENTS OF INDIA LIMITED Jkn+t[ S KR]THIKA COMPANY SECRETARY Encl murugoPPo “Tube Investments of India Limited Q2 FY2027 Earnings Call” November 6, 2026 Management: Mr. M.A.M. Arunachalam – Executive Chairman - Tube Investments of India Limited Mr. Mukesh Ahuja – Managing Director - Tube Investments of India Limited Mr. AN. Meyyappan – Chief Financial Officer - Tube Investments of India Limited Mr. Jalaj Gupta – Managing Director – TICMPL Mr. Govindarajan Narayanan — CEO & Whole-time Director, 3xper Innoventure Limited And the Management team Page 1 of 18 Tube Investments of India Limited November 6, 2026 Moderator: Ladies and gentlemen. Good day, and welcome to the Tube Investments Q2 FY2027 Earnings Call, hosted by IIFL Capital Services Limited. All participants are currently in the listen only mode. There will be an opportunity to ask the questions following the conclusion of the management's opening remark. Please note this conference is being recorded. I now hand over the conference over to Mr. Joseph George from IIFL Capital. Thank you, and over to you, Sir. Joseph George: Thank you, Akshata. On behalf of IIFL Capital, I welcome you all to the 2Q FY 2027 Earnings Conference Call of Tube Investments of India Limited. From the management team, we have with us Mr. M.A.M. Arunachalam, Executive Chairman, Mr. Mukesh Ahuja, Managing Director, and Mr. AN. Meyyappan, Chief Financial Officer, as well as all the divisional heads. I will now hand over the call to the management for opening remarks, post which we will have Q&A. Thank you. Mukesh Ahuja: Yes, good morning, everybody. I would like to share the Board of Directors of TI met yesterday and approved the financial results of the quarter ended September 30, 2026. Standalone results for the quarter, revenue for Q2 was at Rs.2710 Crores, against Rs.2119 Crores in the same period previous year. PBT was at Rs.253 Crores against Rs.250 Crores in the same period of previous year. ROIC stood at 44% for the quarter, ended September 30, 2026, which is the same as the previous year same quarter. Free cash flow for the quarter was Rs.167 Crores. I will give a view about the business wise. Engineering division, the revenue for the quarter was Rs.1,828 Crores, compared to Rs.1,382 Crores in the corresponding quarter of the previous year. Profit before interest and Tax for the quarter was Rs.171 Crores against Rs.164 Crores in the corresponding quarter of the previous year. Metal formed product revenue for the quarter was Rs.473 Crores, compared with Rs.408 Crores in the corresponding quarter of the previous year. Profit before interest and Tax for the quarter was Rs.49 Crores against Rs.44 Crores in the corresponding quarter of the previous year. Mobility revenue for the quarter was Rs.247 Crores, compared with Rs.194 Crores in the corresponding quarter of the previous year. Profit before interest and Tax for the quarter was Rs.8 Crores against Rs.4 Crores in the corresponding quarter of the previous year. Others, revenue for the quarter was Rs.260 Crores, compared with Rs.227 Crores in the corresponding quarter of the previous year. Profit before interest and tax for the quarter was Rs.20 Crores against Rs.18 Crores, in the same period for the previous year. At a consol level, TI's consolidated revenue for the quarter was Rs.7,330 Crores against Rs.5,523 Crores in the corresponding quarter of the previous year. The profit (before share of profit of an associate and joint venture, exceptional items and tax) for the quarter was Rs.643 Crores against Rs.459 Crores in the corresponding quarter of the previous year. CG Power and Page 2 of 18 Tube Investments of India Limited November 6, 2026 Industrial Solutions Limited, a subsidiary in which the company holds 56.27% stake, registered a revenue of Rs.3,802 Crores during the quarter against Rs.2,923 Crores in the same period of the previous year. Profit before Tax for the quarter was Rs.559 Crores against Rs.388 Crores in the same quarter of the previous year. Shanthi Gears Limited, a subsidiary company in the gears business in which company holds 73.16%, registered a revenue of Rs.128 Crores, during the quarter, against Rs.132 Crores in the same quarter previous year. Profit before Tax for the quarter was Rs.20 Crores against Rs.29 Crores in the corresponding quarter of previous year. Thank you, and happy to take questions on this. Moderator: Thank you, Sir. We will now begin the question and answer session. Anyone who wishes to ask a question may click on the raise hand icon from the participant tab on your screen. We will wait for a moment until the queue assembles. We will wait for a moment. We will take our first question from Gnanasundaram Saminathan from Avendus. Gnanasundaram S: Good morning team. So, the first one is kind of a bookkeeping, largely on the standalone numbers. Can you clarify in terms of how much of this growth is coming on account of, HRC price pass- through, and how much of it was volume driven? Mukesh Ahuja: So, at a TI level, approximately, you can consider about 15% there is a volume growth, and rest is coming on account of the raw material price increases. Gnanasundaram S: Thank you, and just a follow up to that, any specific reason that we are seeing margins in both engineering and metal form divisions being lower than what we had anticipated. Mukesh Ahuja: So, as all of us are aware, there is a continuous increase in the commodity prices, and in our businesses, whatever contracts we have with customers. It generally, maybe let us say, it comes with retro effect, but it takes about one quarter to two quarters to settle prices with our customers and the OEMs. So that process is on and maybe, let us say, as of now, we are confident we will be able to recover fully, in the next one or two quarters. Gnanasundaram S: Perfect, that clarifies, thank you. And my second question with regards to the balance sheet is that there has been Rs.412 Crores of incremental investments that has gone into subsidiaries. How much of this was into TICMPL and the other subsidiaries? Can you clarify, please? AN Meyyappan: Yeah, TICMPL is around, Rs.250 Crores, and, Rs.78 Crores, we have invested in Shanthi Gears. That is a major investment. Gnanasundaram S: Got it. And just in terms of TICMPL, can the management throw an outlook in terms of where we are because the losses continue to seem to be there, Rs.150 Crores? I know the revenue Page 3 of 18 Tube Investments of India Limited November 6, 2026 numbers are very encouraging, but can you give us some outlook in terms of where should we look at TICMPL from a revenue as well as from an operating profit perspective? Possibly a one or two year down the line perspective, not immediate quarters, would be helpful. Jalaj Gupta: Okay, good morning, Mr. Gnana [Showing first 8,000 characters — download PDF for full document]