TEGA
Tega Industries share price & financials
- Price
- ₹1,622.2
- Market cap
- ₹13.4k Cr
- Sector
- Capital Goods
- Calls analysed
- 6
Tega Industries Limited Q1 FY27
What went well
- Consolidated revenue from operations reached INR17.2 billion, reflecting strong growth and diversification benefits.
- Adjusted EBITDA for the consolidated group stood at INR2.6 billion, with a healthy 15% margin.
- Legacy Tega businesses delivered robust performance, with revenue growing 21% YoY to INR4.3 billion and EBITDA increasing 42% YoY to INR1 billion.
What to watch
- One-time acquisition and integration expenses amounted to INR1.9 billion (consolidated) / INR1.95 billion (Molycop specific).
- The equipment business experienced a 44% de-growth in revenue to INR0.36 billion, primarily due to delays in customer clearances.
What Tega Industries Limited does
Tega Industries designs and manufactures 'critical-to-operate' abrasion-and-wear-resistant consumables (mill liners, hydrocyclones, screens, trommels, conveyor and pump components made of rubber, polyurethane, steel and ceramics) and mineral-processing capital equipment (crushers, grinding mills, vibrating screens, feeders, thickeners, flotation cells, stacker reclaimers, wagon tipplers) for the global mining and mineral-processing industry. It earns revenue from a mix of recurring wear-part replacement sales (Consumables) and equipment/turnkey project sales (Equipment, via subsidiary Tega McNally Minerals Limited), increasingly bundled with lifecycle services, spares, upgrades and plant-audit consultancy. In June 2026 the company completed the acquisition of Molycop, a global grinding-media producer, in partnership with Apollo Funds, materially expanding its manufacturing footprint and product portfolio.
Segments
- Consumables
- Equipment
- Manufacturing plants
- 10 (across India, Chile, South Africa and Australia)
- Countries with customer base
- 92+
- Customers served
- 700+
- Global sales offices
- 13
- In-house R&D facilities
- 3
- Global patents held
- 10
Guidance record · Q1 FY27
what the last two calls moved 18 tracked 1 delivered 2 missed 15 open- Molycop Acquisition Timeline delivered said Q1 FY26 Promised: By December 31, 2025 or early January 2026 Q1 FY27: Acquisition closed and financials consolidated for one month in Q1. One-time acquisition costs of INR 1.9B fully accounted for.
- Equipment Business Revenue Growth FY27 missed said Q4 FY26 Promised: Around 25% Q1 FY27: Revenue declined 44% YoY in Q1, making the full-year target of 25% growth highly improbable.
- Chile Project Commissioning delayed said Q4 FY25 Promised: Middle of next calendar year (2026) Q1 FY27: Timeline further specified to soft commissioning in Jan 2027 and commercial production in March 2027 (end of Q4 FY27), subject to regulatory approvals.
All 18 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 384.0%, net profit down 408.6% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 353 | 409 | 536 | 356 | 405 +15% | 404 −1% | 527 −2% | 1,723 +384% |
| EBITDA | 34 | 91 | 150 | 56 | 69 +103% | 46 −49% | 60 −60% | 56 +0% |
| Net profit | 7 | 54 | 102 | 35 | 45 +543% | 20 −63% | 43 −58% | -108 −409% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −16.9% 1Y
1Y: ₹2,081.7 on 10 Sept 2025 → ₹1,729.1. High ₹2,108.9 (17 Sept 2025), low ₹1,477.4 (30 Jul 2026).
How the price took the results
close before → close after
- Q1 FY27
- +2.5%
- 13 Aug
- Q4 FY26
- +0.9%
- 2 Jun
- Q3 FY26
- −1.5%
- 12 Feb
- Q2 FY26
- +0.4%
- 13 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 11.7% a year over 3 years, FY23 to FY26. Operating margin narrowed to 13.7%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹1.2k Cr | ₹1.5k Cr | ₹1.6k Cr | ₹1.7k Cr |
| Operating profit | ₹270 Cr | ₹316 Cr | ₹339 Cr | ₹231 Cr |
| Operating margin | 22.3% | 21.2% | 20.7% | 13.7% |
| Interest | ₹18 Cr | ₹32 Cr | ₹27 Cr | ₹23 Cr |
| Depreciation | ₹41 Cr | ₹64 Cr | ₹102 Cr | ₹95 Cr |
| Net profit | ₹183 Cr | ₹193 Cr | ₹200 Cr | ₹143 Cr |
| Net margin | 15.1% | 12.9% | 12.2% | 8.5% |
| Cash from operations | ₹179 Cr | ₹252 Cr | ₹195 Cr | ₹350 Cr |
| Free cash flow | ₹179 Cr | ₹252 Cr | ₹195 Cr | ₹214 Cr |
| ROCE | 21.0% | 19.0% | 18.0% | 8.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹58 Cr | ₹66 Cr | ₹66 Cr | ₹67 Cr | ₹67 Cr | ₹75 Cr |
| Reserves | ₹547 Cr | ₹670 Cr | ₹983 Cr | ₹1.1k Cr | ₹1.4k Cr | ₹3.3k Cr |
| Borrowings | ₹228 Cr | ₹245 Cr | ₹361 Cr | ₹308 Cr | ₹305 Cr | ₹398 Cr |
| Other liabilities | ₹176 Cr | ₹189 Cr | ₹219 Cr | ₹385 Cr | ₹369 Cr | ₹509 Cr |
| Total liabilities | ₹1.0k Cr | ₹1.2k Cr | ₹1.6k Cr | ₹1.9k Cr | ₹2.1k Cr | ₹4.3k Cr |
| Fixed assets | ₹296 Cr | ₹298 Cr | ₹548 Cr | ₹600 Cr | ₹635 Cr | ₹665 Cr |
| Capital work in progress | ₹7 Cr | ₹10 Cr | ₹12 Cr | ₹11 Cr | ₹55 Cr | ₹107 Cr |
| Investments | ₹201 Cr | ₹199 Cr | ₹217 Cr | ₹279 Cr | ₹317 Cr | ₹227 Cr |
| Other assets | ₹505 Cr | ₹663 Cr | ₹852 Cr | ₹995 Cr | ₹1.1k Cr | ₹3.3k Cr |
| Total assets | ₹1.0k Cr | ₹1.2k Cr | ₹1.6k Cr | ₹1.9k Cr | ₹2.1k Cr | ₹4.3k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters trimmed −7.29 pp while the public added +5.95 pp.
- Promoters
- 67.5%
- FIIs
- 2.8%
- DIIs
- 18.7%
- Public
- 11.0%
Since Jun 2025
- Promoters −7.29 pp
- Public +5.95 pp
- FIIs +1.05 pp
How it drifted, 12 quarters
Over this window promoters fell from 74.9% to 67.5% — −7.4 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 74.9%, FIIs 1.8%, DIIs 17.5%, Public 5.8%.Dec '23: Promoters 74.9%, FIIs 1.5%, DIIs 18.3%, Public 5.3%.Mar '24: Promoters 74.8%, FIIs 1.5%, DIIs 19.1%, Public 4.6%.Jun '24: Promoters 74.8%, FIIs 1.7%, DIIs 18.9%, Public 4.6%.Sep '24: Promoters 74.8%, FIIs 1.8%, DIIs 19.1%, Public 4.3%.Dec '24: Promoters 74.8%, FIIs 1.7%, DIIs 19.0%, Public 4.5%.Mar '25: Promoters 74.8%, FIIs 1.7%, DIIs 18.8%, Public 4.7%.Jun '25: Promoters 74.8%, FIIs 1.8%, DIIs 18.4%, Public 5.1%.Sep '25: Promoters 74.8%, FIIs 1.9%, DIIs 10.7%, Public 12.6%.Dec '25: Promoters 67.3%, FIIs 1.5%, DIIs 18.6%, Public 12.6%.Mar '26: Promoters 67.5%, FIIs 2.1%, DIIs 19.0%, Public 11.4%.Jun '26: Promoters 67.5%, FIIs 2.8%, DIIs 18.7%, Public 11.0%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Tata Aia Life Insurance Company Ltd - Non Unit Linked Life Policy Holders Fund Participating Insurer +0.21 pp 2.97% held
The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Tega Industries Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Nihal Fiscal Services Private Limited | 49.88% | unchanged |
| M M Business Trust | 9.69% | unchanged |
| Madan Mohan Mohanka | 7.32% | unchanged |
| Tata Mutual Fund - Tata Small Cap Fund Mutual fund | 5.58% | unchanged |
| HDFC Small Cap Fund Mutual fund | 5.47% | unchanged |
| Tata Aia Life Insurance Company Ltd - Non Unit Linked Life Policy Holders Fund Participating Insurer | 2.97% | +0.21 pp |
| ICICI Prudential Equity & Debt Fund Mutual fund | 1.22% | −0.08 pp |
| Mehul Mohanka | 0.28% | unchanged |
| Manju Mohanka | 0.13% | unchanged |
| Manish Mohanka Benefit Trust | 0.13% | unchanged |
| Arvan Mohanka Family Trust | 0.03% | unchanged |
| Amayra Mohanka Family Trust | 0.03% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in TEGA
Filings to Aug 2026
0 new, 4 added, 2 trimmed, 0 sold out — net −0.68 L shares (−1.7%).
- Held by funds
- ₹604 Cr
- 8 schemes
- Biggest holder
- HDFC Small Cap Fund
- ₹346 Cr · 0.8% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| HDFC Small Cap Fund HDFC Mutual Fund | ₹346 Cr | held | Nov '25 |
| HDFC Balanced Advantage Fund HDFC Mutual Fund | ₹183 Cr | held | Dec '22 |
| HDFC Children's Fund HDFC Mutual Fund | ₹68 Cr | −0.69 L | Nov '24 |
| Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund | ₹4 Cr | +0.00 L | Mar '26 |
| SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund | ₹2 Cr | +0.00 L | Mar '26 |
| Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund | ₹1 Cr | +0.00 L | Mar '26 |
| SBI Nifty 500 Index Fund SBI Mutual Fund | ₹0 Cr | −0.00 L | Mar '26 |
| SBI Nifty Small Cap 250 ETF SBI Mutual Fund | ₹0 Cr | +0.00 L | May '26 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
4 added, 2 trimmed — net −68,437 shares (−1.7%)
- Funds are sitting on
- +13%
- vs est. average cost
- Held by funds
- ₹604 Cr
- 8 schemes · ≈ 4.9% of the company
- Biggest holder
- HDFC Small Cap Fund
- ₹346 Cr · 0.8% of that fund
- Longest holder
- HDFC Balanced Advantage Fund
- 3y 8m · since Dec '22
Shares held by these funds −20%
Aug '23 40.62 L shares Jul '26
All earnings calls (6)
Read the Q1 FY27 call →Learn to analyse Tega Industries Limited
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