ALFA Finder
The call ran from 6:01 PM to 6:50 PM IST (49 min).
Key takeaways
Legacy Tega Q2 revenue rose 19% YoY, but Molycop consolidation drove an H1 loss of ₹167 Cr. Equipment guidance was cut to 15% from 25%, exposing order-conversion slippage.
| Revenue growth | Legacy Q2 revenue +19% YoY; consolidated ₹4,254 Cr includes Molycop (inorganic). |
|---|---|
| Margins | Legacy consumables margin 20.8% in Q2; consolidated EBITDA margin 14.2%, flat-ish. |
| Order book | Legacy audible ₹13,976 Cr, up 14% QoQ; ₹11,576 Cr executable within 12 months. |
| Demand visibility | Legacy order book healthy; equipment H2 recovery depends on customer approvals. |
| Management confidence | Balanced: confident on recovery, hedged on timing ('hope', 'crystal ball'). |
Growth
Legacy Q2 revenue +19% YoY, consumables +26%, equipment +72% QoQ off a weak base; legacy EBITDA only +11%.
Outlook
Equipment growth cut to 15% from 25%; Molycop margin +100bps 'in coming year'; Chile plant commercial production by March 2027.
Risks
Equipment depends on customer approvals; Molycop margins flat; non-core asset sales 12-18 months out; ₹710 Cr Apollo liability.
Last quarter's promises, checked
Delivered
- Guided consumables ~15% CAGR → +26% YoY (= BEAT)
- Guided Molycop margin flat → flat (= BEAT)
Partly delivered
- Guided gross margin ~62% → H1 61% (= PARTIAL)
- Guided Molycop net debt down by FYE → ₹1,000 Cr term loan repaid; Molycop net debt unreported (= PARTIAL)
- Guided Chile commercial production Mar-27 → on track, not yet due (= PARTIAL)
Missed
- Guided Molycop volume ~+5% → flat Q2 YoY (= MISS)
- Guided consolidated EBITDA ~15% → 14.2% (= MISS)
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
Tega Industries Q2 FY27 Results: Net Loss of ₹58.8 Cr
Tega Industries Ltd reported revenue from operations of ₹4,254 Cr (+949.3% YoY) and a net loss of ₹58.8 Cr for Q2 FY27.
- Key figure
- Net loss ₹58.8 Cr
What management said last time
Full summary →From the call summary published .
Outlook they gave
Guided 15% growth for consumables and 25% for equipment in FY27.
Growth they described
Equipment revenue surged 25% YoY; consumables were flat due to Red Sea logistical disruptions.
Call details
| Company | Tega Industries Limited |
|---|---|
| NSE symbol | TEGA |
| ISIN | INE011K01018 |
| Call | Q2 FY27 earnings call |
| Date | Thursday, 5 November 2026 |
| Time | 6:00 PM IST |
| Length | 49 min |
| Audio | Our stream on YouTube ↗ |
Tega Industries Limited: key numbers
- Share price
- ₹1,689.20
- Market cap
- ₹12,771 Cr
- Revenue (annual)
- ₹1,692 Cr
- Net profit (annual)
- ₹142.7 Cr
- P/E (TTM)
- -179.2×Sector 17.0×
- Promoter holding
- 67.08%-0.42% QoQ
- FII holding
- 2.68%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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