🔍

TEGA - Tega Inds.

📊 NSE: TEGA 🏢 Engineering 📅 Last Updated: 12/14/2025 14:17

📢 Recent Corporate Announcements

Tega Industries Executes SSA to Finance Molycop Acquisition via USD 1/Share OCRPS

🟢 POSITIVE ⭐ 8/10

M&A 📅 13 Feb 2026, 09:08 PM

Tega Industries has executed a Share Subscription Agreement (SSA) with its wholly-owned subsidiary, Tega MC Investment Pte. Ltd., to facilitate the financing of the Molycop acquisition. The company will subscribe to Optionally Convertible Redeemable Preference Shares (OCRPS) at an issue price of USD 1 per share. These instruments have a long-term tenure of 20 years and carry a discretionary dividend of 0.1%. This step is a critical administrative and financial milestone in completing the previously announced global acquisition of Molycop.

Execution of SSA with Tega MC Investment Pte. Ltd. to fund the Molycop acquisition
Subscription to OCRPS at an issue price of USD 1 per share
OCRPS features a 20-year tenure and a 0.1% discretionary dividend rate
Instruments are convertible into ordinary shares at the option of the subsidiary
Transaction is conducted at arm's length between the parent and its wholly-owned subsidiary

💡 Investors should view this as a positive step toward the closure of the Molycop acquisition, which is expected to be value-accretive. Monitor for further updates regarding the final closing date of the acquisition and its impact on consolidated financials.

Tega Industries Releases Q3 & 9M FY26 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 3/10

EARNINGS 📅 12 Feb 2026, 06:34 PM

Tega Industries has officially released the audio recording of its earnings conference call held on February 12, 2026. The call discussed the company's financial performance for the third quarter and the nine-month period ending December 31, 2025. This disclosure is a routine regulatory requirement under SEBI (LODR) Regulations. Investors can access the recording on the company's website to understand management's commentary on the quarter's results.

Earnings conference call conducted on February 12, 2026.
Covers financial results for the quarter and nine months ended December 31, 2025.
Audio recording is available on the company's website under the investor section.
Compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

💡 Investors should listen to the recording to gain insights into management's outlook on the mining consumables market and margin guidance. This is a routine update and does not contain new financial data beyond what was already reported in the Q3 results.

Tega Industries Approves ₹1,500 Cr Borrowing and ₹3,517 Cr Investment for Molycop Acquisition

🟢 POSITIVE ⭐ 9/10

M&A 📅 12 Feb 2026, 04:29 PM

Tega Industries has approved a significant funding structure to finalize its acquisition of Molycop, a global leader in grinding media. The board sanctioned a borrowing facility of up to ₹1,500 crore and a massive investment of ₹3,517 crore into its Singapore-based subsidiary, Tega HoldCo. Additionally, a new Indian subsidiary will be incorporated with a ₹99 crore investment to facilitate the transaction. This acquisition is a transformative move for Tega, expected to close by March 31, 2026, significantly expanding its footprint in the mining solutions industry.

Approved a borrowing facility of up to ₹1,500 crore from scheduled commercial banks to fund the acquisition.
Sanctioned investment of ₹3,517 crore in Singapore subsidiary Tega HoldCo via OCRPS and ₹1 crore in ordinary shares.
Authorized incorporation of a new Indian wholly owned subsidiary with an investment of up to ₹99 crore.
The acquisition of Molycop is targeted for completion by March 31, 2026, subject to closing conditions.
The funding is specifically structured to facilitate the global acquisition of Molycop's grinding media business.

💡 Investors should view this as a major scale-up move that could significantly boost Tega's global market share in mining consumables. Monitor the company's leverage levels and the integration progress of Molycop following the expected March 2026 closure.

Tega Industries Approves ₹1,500 Cr Borrowing & ₹3,517 Cr Investment for Molycop Acquisition

🟢 POSITIVE ⭐ 9/10

M&A 📅 12 Feb 2026, 04:04 PM

Tega Industries has finalized the financing structure for its major acquisition of Molycop, a leader in grinding media for the mining industry. The board has approved a borrowing facility of ₹1,500 crore and a massive investment of ₹3,517 crore into its Singapore-based subsidiary, Tega HoldCo. Additionally, a new Indian subsidiary will be formed with a ₹99 crore investment to facilitate the transaction. The acquisition is strategically significant for Tega's global expansion and is expected to close by March 31, 2026.

Approved a borrowing facility of up to ₹1,500 crore from scheduled commercial banks.
Authorized investment of up to ₹3,517 crore in Singapore subsidiary Tega HoldCo via OCRPS.
Incorporation of a new Indian Wholly Owned Subsidiary with an investment of ₹99 crore.
The funding is specifically earmarked for the acquisition of Molycop and associated expenses.
Target completion date for the Molycop acquisition is set for March 31, 2026.

💡 Investors should track the company's leverage levels following the ₹1,500 crore debt intake. The successful integration of Molycop is a major growth catalyst that could significantly enhance Tega's market share in the mining consumables space.

Tega Industries Q3 FY26 PAT Drops 64% YoY to ₹197 Mn; EBITDA Margins Contract to 14%

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 12 Feb 2026, 03:47 PM

Tega Industries reported a weak performance for Q3 FY26, with Profit After Tax (PAT) declining 64% YoY to ₹197 million. While 9-month revenues grew by 6% to ₹12,103 million, the quarterly EBITDA margin saw a sharp contraction from 24% to 14% due to rising employee and other operating expenses. A positive takeaway is the robust order book of ₹11,402 million, of which ₹8,102 million is executable within the next 12 months, providing some revenue visibility.

Q3 FY26 PAT fell 64% YoY to ₹197 million compared to ₹542 million in Q3 FY25.
EBITDA for the quarter declined 42% YoY to ₹600 million, with margins dropping 1,000 basis points to 14%.
9M FY26 revenue showed a steady 6% growth reaching ₹12,103 million.
Total order book stands strong at ₹11,402 million as of December 31, 2025.
Other expenses rose significantly to ₹1,201 million in Q3 FY26 from ₹841.6 million in the previous year's corresponding quarter.

💡 Investors should exercise caution due to the significant margin compression and sharp decline in quarterly profitability. While the order book remains healthy, it is crucial to monitor if the rise in operating costs is structural or a one-time occurrence before making new entries.

Tega Industries Q3 Standalone Net Profit Drops 50% YoY to ₹28.15 Cr; Revenue Down 24.5%

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 12 Feb 2026, 03:41 PM

Tega Industries reported a weak standalone performance for the quarter ended December 31, 2025, with revenue from operations falling 24.5% YoY to ₹186.77 crore. Net profit saw a sharp decline of nearly 50%, dropping to ₹28.15 crore from ₹56.08 crore in the corresponding quarter last year. During the quarter, the company completed a significant fundraise via preferential allotment, issuing 8.59 million shares at ₹1,994 per share. The company also noted a ₹4.58 crore impact on employee benefit obligations due to the implementation of new labour codes.

Standalone Revenue from operations declined 24.5% YoY to ₹186.77 crore in Q3 FY26.
Standalone Net Profit fell by 49.8% YoY to ₹28.15 crore compared to ₹56.08 crore in Q3 FY25.
Completed preferential allotment of 8,592,206 equity shares at ₹1,994 each on November 28, 2025.
Standalone EPS for the quarter dropped significantly to ₹4.04 from ₹8.43 in the previous year.
Estimated a ₹4.58 crore increase in gratuity and compensated absence liabilities due to New Labour Codes.

💡 The significant decline in both revenue and profitability is a negative signal, suggesting headwinds in the mining and mineral beneficiation segments. Investors should exercise caution and wait for management commentary on the recovery of margins and the utilization of the newly raised capital.

Tega Industries Q3 Standalone PAT Drops 50% YoY to ₹28.15 Cr; Completes ₹1,713 Cr Fundraise

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 12 Feb 2026, 03:24 PM

Tega Industries reported a weak standalone performance for the quarter ended December 31, 2025, with revenue declining 24.5% YoY to ₹186.77 crore. Net profit saw a sharp contraction of nearly 50% YoY, falling to ₹28.15 crore from ₹56.08 crore in the previous year. A significant highlight was the completion of a preferential allotment of 8.59 million shares at ₹1,994 per share, raising approximately ₹1,713 crore. The company also accounted for a ₹4.58 crore impact due to the implementation of new labour codes.

Standalone Revenue from operations fell 24.5% YoY to ₹1,867.72 million from ₹2,474.57 million.
Standalone Profit After Tax (PAT) declined 49.8% YoY to ₹281.46 million.
Successfully raised ~₹1,713 crore through preferential allotment of 8,592,206 shares at ₹1,994 each.
Basic EPS for the quarter dropped significantly to ₹4.04 compared to ₹8.43 in Q3 FY25.
Estimated a one-time incremental liability of ₹45.75 million for employee benefits due to new Labour Codes.

💡 Investors should be cautious regarding the significant drop in standalone revenue and margins this quarter. However, the massive capital infusion at a high premium indicates strong long-term growth prospects or potential M&A activity that warrants a 'Watch' on consolidated performance.

Tega Industries to Host Q3 & 9M FY26 Earnings Call on February 12, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 06 Feb 2026, 02:41 PM

Tega Industries Limited has scheduled its earnings conference call for Thursday, February 12, 2026, at 5:00 PM IST. The management will discuss the financial and operational performance for the quarter and nine months ended December 31, 2025. Key leadership, including the MD & Group CEO and the CFO, will be present to address analyst queries. This call is a routine but essential event for understanding the company's recent growth and future outlook.

Earnings call scheduled for February 12, 2026, at 17:00 IST to discuss Q3 and 9M FY26 results.
Management representation includes MD & Group CEO Mehul Mohanka and CFO Sharad Khaitan.
The call will cover operational and financial performance for the period ending December 31, 2025.
Universal dial-in numbers are +91 22 6280 1116 and +91 22 7115 8017.
Event hosted in coordination with Dolat Capital Market Private Limited.

💡 Investors should attend or review the transcript of the call to assess management's commentary on order book growth and margin trends. Focus on updates regarding the mining consumables sector and global demand outlook.

Tega Industries to De-register Australian Subsidiary; Returns AUD 84,778 Capital

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 30 Jan 2026, 12:55 PM

Tega Industries has approved the voluntary de-registration of its wholly owned subsidiary, Tega Industries Australia Pty Ltd. As part of the process, the subsidiary will return AUD 84,778 in surplus capital to the parent company. The subsidiary is non-material, contributing only 1.69% (INR 277.34 Million) to consolidated income and 0.68% to net worth as of March 31, 2025. The company expects the de-registration to be completed within 3-4 months with no material impact on operations.

Board approved voluntary de-registration and capital reduction of Tega Industries Australia Pty Ltd.
Subsidiary contributed INR 277.34 Million (1.69%) to consolidated income in FY25.
Net worth contribution of the subsidiary was minimal at INR 94.91 Million (0.68%).
Surplus capital of AUD 84,778 will be returned to the parent company.
The entire process is expected to be finalized within 3 to 4 months.

💡 This is a routine corporate restructuring of a non-material entity and requires no immediate action from investors. The financial impact is negligible on the consolidated books.

Tega Industries Upsizes Investment in SG Company by USD 35 Million to USD 394.3 Million

🟢 POSITIVE ⭐ 8/10

M&A 📅 24 Jan 2026, 08:21 AM

Tega Industries, through its subsidiary Tega HoldCo, has exercised an upsize option to increase its investment in SG Company by USD 35 million. This brings Tega's total investment to approximately USD 394.3 million, resulting in a majority stake of 84.2%. Apollo HoldCo will invest USD 74.1 million for the remaining 15.8% stake. This move follows a previous agreement from November 2025 and demonstrates management's commitment to increasing its ownership in this strategic entity.

Tega HoldCo exercised an Upsize Option to invest an additional USD 35 million in SG Company.
Total investment by Tega HoldCo now stands at USD 394,295,423 for 394,295,423 ordinary shares.
Tega will hold approximately 84.2% of the total ordinary shareholding of SG Company upon completion.
Apollo HoldCo will invest USD 74,107,477 for a 15.8% stake in the entity.
Apollo HoldCo's USD 27 million investment in redeemable preference shares of RPS Company remains unchanged.

💡 Investors should view this as a sign of management's high conviction in the target entity's growth prospects. Monitor the impact of this significant capital deployment on the company's leverage and future consolidated earnings.

Tega Industries Submits SEBI Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 06 Jan 2026, 12:56 PM

Tega Industries has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations for the period ending December 31, 2025. The document, issued by MUFG Intime India Private Limited, confirms that all share dematerialization requests were handled within the mandated timelines. It verifies that physical certificates were mutilated and cancelled after verification, with the depositories' names updated in the register of members. This filing is a standard procedural requirement for listed entities in India to ensure record-keeping transparency.

Compliance certificate issued for the quarter ended December 31, 2025
Registrar MUFG Intime India confirms processing of dematerialization requests within prescribed timelines
Securities comprised in certificates are confirmed as listed on BSE and NSE
Physical security certificates were mutilated and cancelled after due verification by the depository participant

💡 No action is required from investors as this is a routine administrative filing. Focus should remain on the company's upcoming quarterly financial performance and operational updates.

Tega Industries Gets Trading Approval for 85.92 Lakh Shares Issued on Preferential Basis

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 30 Dec 2025, 08:04 PM

Tega Industries has secured final trading approval from NSE and BSE for 85,92,206 equity shares issued through a preferential allotment. These shares were issued to both promoters and non-promoters at a price of Rs. 1,994 per share, including a premium of Rs. 1,984. The new shares will be admitted for trading starting December 31, 2025, increasing the total paid-up capital to 7,51,27,698 shares. This marks the successful completion of the capital raising process initiated in late 2025.

Approval received for listing 85,92,206 new equity shares on NSE and BSE effective December 31, 2025.
Shares were issued at a premium of Rs. 1,984 per share, indicating strong valuation support.
Total listed capital post-issue increases to Rs. 75.13 crore consisting of 7.51 crore shares.
Allotted shares are subject to staggered lock-in periods extending up to July 2026 and July 2027.
The issuance involves both Promoter and Non-Promoter groups, broadening the equity base.

💡 Investors should view the successful listing and capital infusion at a high premium as a positive sign of institutional and promoter confidence. Monitor the company's upcoming quarterly results to see how this additional capital is deployed for growth.

Tega Industries to Close Trading Window from Jan 1, 2026, for Q3 FY26 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 29 Dec 2025, 10:50 AM

Tega Industries Limited has announced the closure of its trading window for all designated persons and their immediate relatives starting January 1, 2026. This move is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the company's financial results. The window will remain closed until 48 hours after the declaration of the unaudited financial results for the quarter and nine months ending December 31, 2025. This is a standard regulatory procedure for listed companies in India.

Trading window closure effective from January 1, 2026.
Closure relates to the financial results for the quarter and nine months ending December 31, 2025.
Restriction applies to Designated Persons and their immediate relatives.
Window will reopen 48 hours after the official announcement of financial results.

💡 No action is required as this is a routine regulatory filing; investors should monitor the company's upcoming Q3 FY26 earnings for fundamental performance.

Tega Industries Receives Listing Approval for 85.92 Lakh Equity Shares on NSE and BSE

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 19 Dec 2025, 09:42 PM

Tega Industries has received final listing approval from both the National Stock Exchange (NSE) and BSE for 85,92,206 equity shares issued on a preferential basis. These shares were allotted to both Promoters and Non-Promoters, signifying a successful capital infusion. Following this listing, the company's total paid-up capital will increase to approximately Rs. 75.13 crore, comprising 7,51,27,698 equity shares. This regulatory milestone completes the preferential allotment process initiated in November 2025.

Listing approval granted for 85,92,206 equity shares of Rs. 10 each.
Shares were issued on a preferential basis to Promoters and Non-Promoters.
Total listed capital increases to 7,51,27,698 fully paid equity shares.
Post-listing, the total paid-up share capital stands at Rs. 75,12,76,980.
Approvals received from both NSE and BSE on December 19, 2025.

💡 Investors should account for the equity dilution from this preferential issue while considering the positive impact of the fresh capital on the company's balance sheet. Monitor the company's upcoming quarterly results to see how this capital is deployed for growth.

Tega Industries: Disclosure on preferential issue as per SEBI ICDR Regulations

🟡 NEUTRAL ⭐ 4/10

REGULATORY 📅 02 Dec 2025, 12:37 PM

Tega Industries has announced a regulatory filing regarding compliance with Regulation 169(5) of the SEBI ICDR Regulations, 2018. This relates to the preferential allotment of 8,592,206 equity shares. An independent auditor's certificate confirms that the company has realized the monies from allottees by November 24, 2025, and the allotment was made on November 28, 2025. The consideration for these shares has been received from the allottees' bank accounts, and relevant documents are maintained.

Preferential allotment of 8,592,206 equity shares
Compliance with Regulation 169(5) of SEBI ICDR Regulations, 2018
Monies realized from allottees on or before 24 November 2025
Allotment of shares made on 28 November 2025

💡 This is a regulatory filing related to a past preferential issue. Investors should review the company's financials and disclosures for a complete understanding of the impact of this allotment.

View All TEGA Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue grew 10% YoY to INR 16,386.51 Mn in FY 2024-25. Consumables segment grew 10.8% to INR 14,301.24 Mn, while Equipment segment grew 4.6% to INR 2,156.61 Mn. In H1 FY26, total revenue reached INR 7,927 Mn, a 10% increase YoY.

Geographic Revenue Split

Geographically diversified with 85-90% of sales coming from exports/forex-denominated revenue. The company has a presence in over 92 countries with manufacturing facilities in India, South Africa, Australia, and Chile.

Profitability Margins

Gross margins improved by 300 basis points from 56% to 59% in H1 FY26 due to product mix. Net Profit margin for FY 2024-25 stood at 12.21% (INR 2,000.79 Mn) compared to 12.99% in FY 2023-24.

EBITDA Margin

Consolidated EBITDA margin for H1 FY26 was 20% (INR 1,561 Mn), up from 17% in H1 FY25. FY 2024-25 Operating EBITDA margin was 20.74%. Improvement is driven by the integration of Tega McNally Minerals Ltd (TMML) and high-margin order execution.

Capital Expenditure

Planned capex of ~INR 250 Cr (USD 30 million), with USD 20 million allocated for Chile plant capacity enhancement and USD 10 million for other plants. 70% of this is expected to be debt-funded.

Credit Rating & Borrowing

CRISIL Ratings maintains a 'Stable' outlook. Interest coverage ratio is strong at 14.23x as of March 31, 2025. Finance costs decreased 16% to INR 269.04 Mn in FY 2024-25.

⚙️ Operational Drivers

Raw Materials

Wear-resistant rubber, polyurethane, and steel components. Raw material costs accounted for 42.62% of total revenues in FY 2024-25, down from 43.24% in FY 2023-24.

Import Sources

Sourced globally to reduce dependency on single regions; primary manufacturing hubs are in India, Chile, South Africa, and Australia.

Capacity Expansion

Chile plant expansion (USD 20M) and global capacity augmentation (USD 10M). Post-Molycop acquisition, the group will operate 26 manufacturing facilities globally.

Raw Material Costs

Raw material costs were INR 2,931.61 Mn in H1 FY26. Procurement strategy includes dynamic pricing to reduce lag and margin erosion from input cost volatility.

Manufacturing Efficiency

Equipment business EBITDA margin improved from 5% at acquisition to 14% in H1 FY26 through process alignment and synergy realization.

Logistics & Distribution

Export-oriented nature leads to high transit times; however, freight costs have recently moderated, contributing to margin improvement.

📈 Strategic Growth

Expected Growth Rate

25%+

Growth Strategy

Growth will be driven by the USD 1.45 billion acquisition of Molycop, which adds 26 global facilities. The company is also targeting 25%+ growth in the equipment business through TMML synergies and a strong order book of INR 11,556 Mn.

Products & Services

Wear-resistant rubber products (WRP), wear-resistant components (WRC), Dyna Prime mill liners, polyurethane lining, grinding mills, screens, conveyors, and hydro cyclones.

Brand Portfolio

Tega, Dyna Prime, Tega McNally (TMML), Losugen.

New Products/Services

Dyna Prime mill liners have been a major success in South America, driving segment turnaround. Integrated solutions (equipment + consumables) are expected to increase wallet share.

Market Expansion

Expanding footprint in South America (Chile) and leveraging a global presence in 92+ countries to capture exponential mineral demand growth.

Market Share & Ranking

Second-largest producer of polymer-based mill liners in the global market.

Strategic Alliances

Joint venture accounted for a share of profit of INR 44.71 Mn in FY 2024-25.

🌍 External Factors

Industry Trends

Shift toward sustainable mineral processing and polymer-based liners over traditional steel liners; industry is growing due to global electrification and mineral demand.

Competitive Landscape

Competes with global players in the WRP/WRC segments; maintains advantage through brand recall and a presence in 92+ countries.

Competitive Moat

Moat is built on high switching costs (70-75% repeat orders), global scale (2nd largest), and proprietary technology like Dyna Prime liners. Sustainable due to long-term customer relationships and technical barriers.