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TIL Limited (TIL)

₹229.35 +0.22% last close, 16 Oct

📊 NSE: TIL 🏢 Engineering 📢 Latest filing: 12 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, TIL's revenue was ₹117 Cr (+86.2% year on year, +7.6% on the previous quarter), and net profit ₹-5.5 Cr (a smaller loss than a year earlier); the operating margin was 6.0%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹117	+86.2%	+7.6%
Operating profit	₹7.0	from loss	-29.2%
Net profit	₹-5.5	loss narrowed	loss narrowed
EPS (₹)	-0.69	loss narrowed	loss narrowed
Operating margin	6.0%	—	—

Full quarterly financials → Results calendar →

TIL exchange data

NSE end-of-day data for Fri, 16 Oct 2026

It closed at a price band (circuit) on 1 session in about the last 20.

₹229.35NSE close · +0.22%

Circuit stocks →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

TIL Limited Submits Demat Compliance Certificate for Q2 Ended September 30, 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 12 Oct 2026, 03:06 PM

TIL Limited has submitted its confirmation certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate, issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited on October 3, 2026, verifies that dematerialisation requests were processed within prescribed timelines. All mutilated and cancelled certificates were properly dealt with and depositories updated accordingly. This is a routine quarterly compliance filing with no impact on business operations or financials.

Compliance certificate issued under Regulation 74(5) for the quarter ended 30th September 2026
Issued by Registrar MUFG Intime India Private Limited, dated 03-10-2026
Dematerialisation requests confirmed and share certificates cancelled within statutory timelines

💡 No action required; this is a purely procedural regulatory filing. Investors should instead watch for the company's upcoming Q2 financial results.

TIL Limited Forfeits 65,323 Partly Paid-Up Rights Shares Over Unpaid Call Money

🟡 NEUTRAL ⭐ 3/10

FUNDRAISE 📅 08 Oct 2026, 04:15 PM

TIL Limited's Rights Issue Committee has approved the forfeiture of 65,323 partly paid-up rights equity shares due to non-payment of the first and final call money. The unpaid call amounted to Rs 41.25 per share (Rs 2.50 face value and Rs 38.75 premium), following multiple reminder notices ending August 18, 2026. This represents a minor fraction of the total 1,20,91,760 partly paid-up shares originally allotted in April 2026 (~0.54%). The committee decided not to reissue the forfeited shares, and the Rs 123.75 application money already paid per share stands forfeited.

Forfeited 65,323 partly paid-up rights equity shares out of 1,20,91,760 total allotted shares (~0.54%)
Unpaid first and final call money stood at Rs 41.25 per share (Rs 2.50 face value + Rs 38.75 premium)
Application money of Rs 123.75 per share already collected has been forfeited by the company
Committee resolved not to re-issue the forfeited equity shares

💡 Track the updated share capital structure in the subsequent quarter's shareholding pattern filings; no operational impact expected.

TIL Q1 Concall: Order Book at ₹211 Cr, Tulip Compression Adds ₹328 Cr to Pipeline

🟢 POSITIVE ⭐ 6/10

EARNINGS 📅 19 Aug 2026, 05:39 PM

TIL Limited discussed its Q1 FY27 performance, reporting consolidated revenue of ₹117.1 crore, driven by improved execution and initial consolidation of the Tulip Compression acquisition (closed May 2026). The core TIL order book stands at ₹211 crore with a pipeline of ₹373 crore, while newly acquired Tulip brings an additional order book of ₹328 crore. The company delivered 9 ReachStackers during the quarter and is expanding into clean energy infrastructure and defense equipment to support its ongoing operational turnaround.

Consolidated revenue reached ₹117.1 crore in Q1, aided by core delivery momentum and partial consolidation of Tulip Compression
Core TIL order book stands at ₹211 crore alongside an active order pipeline of ~₹373 crore
Acquired entity Tulip Compression holds an order book of ₹328 crore and an order pipeline of ₹117 crore
Delivered 9 ReachStackers in Q1, reinforcing core container and port handling execution capability
Combined order book across core and Tulip reaches ₹539 crore (~143% of TTM revenue of ₹377 crore)

💡 Track quarterly order conversion rates, EBITDA margin expansion, and whether operating cash flows turn sustainably positive to service high debt levels (D/E of 3.31x).

TIL Uploads Audio Recording of Investor and Analyst Call Held on August 14, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 14 Aug 2026, 06:10 PM

TIL Limited has notified stock exchanges that the audio recording of its Institutional Investors and Analysts Conference Call held on August 14, 2026, has been made available on its website. The filing is a statutory compliance disclosure following quarterly earnings interactions. In the latest reported quarter (Jun 2026), TIL recorded revenue of Rs 117.13 Cr with a net loss of Rs 5.45 Cr.

Conference call with institutional investors and analysts conducted on 14th August, 2026
Audio recording uploaded to the company's official investor relations webpage
Company reported Jun 2026 quarterly revenue of Rs 117.13 Cr and net loss of Rs 5.45 Cr

💡 Investors can access the recording via the company website to review management commentary on turnaround progress, defense segment revenue, and working capital optimization.

66% YoY Revenue Growth to ₹117 Cr; Consolidated Order Book Reaches ₹539 Cr

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 14 Aug 2026, 11:01 AM

TIL Limited reported a 66% YoY increase in consolidated revenue to ₹117 Cr for Q1 FY27, driven by a 25% growth in standalone operations and the partial consolidation of newly acquired Tulip Compression (TCPL). While the company remains loss-making at the PAT level (₹-5.45 Cr), consolidated EBITDA margins improved significantly to 6.2% from 1.5% YoY. The consolidated order book stands at ₹539 Cr, representing approximately 167% of TTM revenue, providing strong revenue visibility for the coming quarters.

Consolidated revenue grew 66% YoY to ₹117 Cr, including a ₹39 Cr contribution from TCPL since May 2026.
Consolidated EBITDA margin expanded by 470 bps YoY to 6.2%, up from 1.5% in the previous year.
Consolidated order book reached ₹539 Cr, with an additional enquiry pipeline of ₹490 Cr.
Delivered 9 Reach Stackers in Q1 FY27, the highest single-quarter delivery since the management change.
TCPL secured SONCAP certification and ISO 16923 compliance, enabling entry into the Nigerian compression market.

💡 Monitor the company's ability to transition to net profitability (PAT) as operational scale increases and evaluate the impact of high finance costs on the bottom line.

Rs 78.6 Cr Q1 Revenue: TIL Ltd Reports 25% YoY Growth but Remains Loss-Making

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 13 Aug 2026, 06:18 PM

TIL Limited reported a 25% YoY increase in revenue to Rs 78.61 Cr for Q1 FY27, up from Rs 62.91 Cr. Despite the top-line growth, the company remains in the red with a net loss of Rs 7.16 Cr for the quarter. A significant development was the completion of a 60% stake acquisition in Tulip Compression Private Limited for Rs 119.01 Cr, marking a strategic entry into the gas compressor segment. Additionally, the company is slowly deploying funds from its warrant conversion, with Rs 33.22 Cr still remaining for future capex.

Revenue from operations grew 25% YoY to Rs 78.61 Cr in Q1 FY27.
Net loss widened slightly to Rs 7.16 Cr from a loss of Rs 6.22 Cr in the same quarter last year.
Completed acquisition of 60% stake in Tulip Compression Private Limited for Rs 119.01 Cr on May 8, 2026.
Rights issue of 1.21 Cr shares completed in April 2026, increasing paid-up capital to Rs 79.42 Cr.
Unutilized funds for capital expenditure from warrant conversion stand at Rs 33.22 Cr.

💡 Investors should monitor the integration of the newly acquired Tulip Compression subsidiary and the pace of capex deployment, as the company aims for a turnaround toward its Rs 475 Cr revenue target.

TIL Q1 Revenue Grows 25% to ₹78.6 Cr; Net Loss Widens to ₹7.16 Cr

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 13 Aug 2026, 05:50 PM

TIL Limited reported a 25% YoY increase in revenue to ₹78.61 Cr for Q1 FY27, though net loss widened slightly to ₹7.16 Cr from ₹6.22 Cr in the previous year. The company completed a major 60% acquisition of Tulip Compression for ₹119.01 Cr in May 2026, diversifying into gas compressor services. A significant rights issue was completed in April 2026, increasing the paid-up equity capital to ₹79.42 Cr. Despite the capital infusion, high finance costs of ₹10.50 Cr continue to weigh on the bottom line.

Revenue from operations rose 24.9% YoY to ₹78.61 Cr compared to ₹62.91 Cr in the year-ago quarter.
Acquired 60% stake in Tulip Compression Private Limited for ₹119.01 Cr on May 8, 2026.
Completed a rights issue of 1.21 Cr shares at ₹165 per share (including premium) in April 2026.
Unutilized funds from warrant conversion for capex stand at ₹33.22 Cr as of June 30, 2026.
Finance costs increased to ₹10.50 Cr from ₹9.56 Cr YoY, representing 13.3% of quarterly revenue.

💡 Investors should monitor the integration of the new gas compressor subsidiary and the company's ability to utilize the ₹33.22 Cr remaining capex funds to drive operational turnaround and reduce the high interest burden.

TIL Limited schedules Q1 FY27 earnings conference call for August 14, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 11 Aug 2026, 11:26 AM

TIL Limited has announced its Q1 FY27 earnings conference call scheduled for August 14, 2026, at 2:00 PM IST. The management team, including the CMD and CEO, will discuss business performance following a fiscal year (FY26) where the company reported a TTM net loss of ₹31 Cr. Investors will be looking for updates on the company's stated goal to reach ₹475 Cr in revenue and its progress in reducing a high Debt-to-Equity ratio of 3.31.

Earnings conference call scheduled for August 14, 2026, at 2:00 PM IST
Management representation includes Chairman & MD, CEO, and Director Finance
Company reported TTM revenue of ₹323 Cr against a market cap of ₹1686 Cr
Inventory turnover ratio previously improved by 398% to 2.49 in FY25
Latest quarterly net loss stood at ₹9.97 Cr for March 2026

💡 Monitor the call for management commentary on the turnaround strategy and progress toward the ₹475 Cr revenue target, given the current TTM OPM of only 1.4%.

TIL Limited Schedules Q1 FY27 Earnings Call for August 14, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 11 Aug 2026, 10:13 AM

TIL Limited has scheduled its Q1 FY27 earnings conference call for August 14, 2026, at 2:00 PM IST. The management, including the CMD and CEO, will discuss business performance following a challenging FY26 where the company reported a TTM net loss of ₹31 cr. Investors will likely seek updates on the company's stated goal to reach ₹475 cr in revenue and the performance of its defense portfolio, which previously contributed 45% to Q4 FY25 revenue. The company remains highly leveraged with a debt-to-equity ratio of 3.31.

Earnings conference call scheduled for August 14, 2026, at 2:00 PM IST
Management aims to reach a revenue target of ₹475 cr through product expansion
Defense portfolio accounted for 45% of Q4 FY25 revenue, a key growth driver
TTM revenue stands at ₹323 cr against a market cap of ₹1720 cr
Inventory turnover ratio improved 398% to 2.49 in the previous fiscal year

💡 Investors should listen for management commentary regarding the timeline for achieving profitability, as the company reported a net loss of ₹9.97 cr in the most recent March 2026 quarter.

99.99% Approval: TIL Limited Shareholders Pass All Resolutions at 51st AGM

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 30 Jul 2026, 03:50 PM

TIL Limited's shareholders approved all resolutions at the 51st AGM held on July 29, 2026, with near-unanimous support (>99.99%). Key approvals include the adoption of FY26 financial statements, where the company reported a net loss of Rs 30.77 Cr on revenue of Rs 323.25 Cr. Shareholders also confirmed the appointment of M/s. V. Singhi & Associates as Statutory Auditors for a five-year term starting FY27. The company continues its turnaround efforts under the Gainwell Group following a period of significant financial stress.

All resolutions passed with over 99.99% majority of the 58,399,583 votes polled.
M/s. V. Singhi & Associates appointed as Statutory Auditors for a 5-year term starting FY2026-27.
Cost Auditor remuneration ratified at Rs 1,50,000 for the 2026-27 financial year.
Total of 281 public shareholders attended the meeting via physical presence or video conferencing.

💡 Monitor the company's progress toward its Rs 475 Cr revenue target and the impact of the Gainwell Group's turnaround strategy on the current negative PAT and high debt levels.

TIL Limited Concludes 51st AGM; New Statutory Auditors Appointed for 5-Year Term

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 29 Jul 2026, 06:59 PM

TIL Limited held its 51st Annual General Meeting on July 29, 2026, to adopt the FY26 financial statements and approve key administrative appointments. Shareholders considered the re-appointment of Director Alok Kumar Tripathi and the appointment of M/s. V. Singhi & Associates as Statutory Auditors for a five-year term starting FY27. Management discussed turnaround plans to enhance plant capabilities and target a revenue of Rs 475 Cr, a significant jump from the TTM revenue of Rs 323 Cr. Voting results for these resolutions are expected to be disclosed by July 31, 2026.

Appointment of M/s. V. Singhi & Associates as Statutory Auditors for a consecutive 5-year term starting FY27
Ratification of Cost Auditor remuneration at Rs 1,50,000 plus taxes for the financial year 2026-27
Management targeting a revenue milestone of Rs 475 Cr as part of its multi-year growth program
Total of 281 shareholders attended the meeting (230 physically and 51 via video conferencing)
Voting results for all ordinary resolutions to be declared within 2 working days (by July 31, 2026)

💡 Investors should monitor the formal declaration of voting results by July 31, 2026, and track the company's progress toward its Rs 475 Cr revenue target in the next two quarterly results to gauge the success of the Gainwell Group's turnaround strategy.

TIL Limited Appoints M/s V. Singhi & Associates as Statutory Auditors for 5-Year Term

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 29 Jul 2026, 06:17 PM

TIL Limited has appointed M/s V. Singhi & Associates as its Statutory Auditors for a five-year term commencing from FY 2026-27. This appointment was approved by shareholders at the 51st Annual General Meeting held on July 29, 2026, following the conclusion of the term of the previous auditors, M/s Singhi & Co. The new audit firm brings nearly 50 years of experience and has over 22 partners. This is a standard regulatory transition and does not indicate any underlying financial distress or auditor-management conflict.

Appointment of M/s V. Singhi & Associates for a 5-year term starting from FY 2026-27
Previous auditors, M/s Singhi & Co., concluded their term at the 51st AGM on July 29, 2026
The new audit firm has nearly 50 years of experience and over 22 partners
Company reported TTM revenue of Rs 323 Cr and a net loss of Rs 31 Cr as of the latest period

💡 No action is required as this is a routine auditor rotation. Investors should monitor the upcoming quarterly results for any changes in accounting disclosures or notes under the new audit firm.

₹60 Cr Fundraise: TIL Reports Zero Deviation in Fund Utilization for Q1 FY27

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 18 Jul 2026, 03:48 PM

TIL Limited has submitted its statement of deviation for the quarter ended June 30, 2026, confirming that the ₹60 Crores raised via warrant conversions is being used as per the original objects. The company has fully utilized the ₹1,200 Lakhs allocated for working capital and ₹1,200 Lakhs for general corporate purposes. However, capital expenditure deployment remains in the early stages, with only ₹278.04 Lakhs spent out of the ₹3,600 Lakhs allocated. Investors should note that ₹3,321.96 Lakhs remains available for phased growth-related capex.

₹60 Crores raised through the conversion of 37,50,000 equity warrants allotted on January 28, 2026
₹1,200 Lakhs (100% of allocation) fully utilized for working capital requirements
₹1,200 Lakhs (100% of allocation) fully utilized for general corporate purposes
₹3,321.96 Lakhs remains unutilized for capital expenditure as of June 30, 2026
₹90.04 Lakhs was the specific amount utilized for capex during the current reporting quarter

💡 Monitor the execution timeline of the remaining ₹33.22 Crores in capital expenditure, as this phased investment is intended to drive future growth.

TIL Limited Issues Reminder for First & Final Call Money Payment (July 17-31)

🟡 NEUTRAL ⭐ 3/10

FUNDRAISE 📅 14 Jul 2026, 02:37 PM

TIL Limited is issuing reminder letters to shareholders who have not yet paid the First & Final Call money on partly paid-up shares from its recent Rights Issue. The payment window is scheduled from July 17, 2026, to July 31, 2026, and will be conducted through Non-ASBA mode only. This follows the allotment of fully paid-up shares to eligible shareholders on July 9, 2026. The company intends to apply for the listing and trading of these shares immediately after the payment window closes.

Payment window for First & Final Call money is from July 17, 2026, to July 31, 2026
Payment must be made through Non-ASBA mode only
Company previously allotted fully paid-up shares on July 9, 2026
Listing and trading application for these shares will occur after July 31, 2026

💡 Shareholders holding partly paid-up shares should ensure payment within the specified window to avoid potential forfeiture; others should monitor the listing of new shares which may affect liquidity.

TIL Limited reports 1 event captured in Insider Trading Database for Q1 FY27

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 13 Jul 2026, 02:48 PM

TIL Limited has submitted its compliance certificate for the Structured Digital Database (SDD) for the quarter ended June 30, 2026. The company confirmed that it captured 1 specific event involving Unpublished Price Sensitive Information (UPSI) during the quarter, matching the required number of events. This filing is a mandatory regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations to ensure transparency and prevent market abuse. The database is maintained internally with an audit trail and is capable of storing records for 8 years.

1 event involving UPSI was required to be captured and was successfully recorded in the SDD
The database is designed to maintain non-tamperable records for a period of 8 years
Compliance is certified under Regulation 3(5) and 3(6) of SEBI (PIT) Regulations, 2015
The system captures the nature of UPSI along with specific date and time stamps

💡 No action required as this is a routine compliance filing. Investors should focus on the upcoming Q1 FY27 financial results to assess the company's progress toward its INR 475 Cr revenue target.

View All TIL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total standalone revenue grew 398% YoY to INR 343.07 Cr in FY25. In Q4 FY25, the revenue split was 45% Defense and 55% Non-Defense. Q2 FY26 revenue reached INR 81.45 Cr, a 12% increase YoY.

Geographic Revenue Split

Not specifically disclosed in available documents, though the company is expanding export operations to mitigate domestic fluctuations.

Profitability Margins

The company turned profitable in FY25 with a Standalone PBT of INR 4.48 Cr (before exceptional items) compared to a loss of INR 106.88 Cr in FY24. Net Profit Ratio stood at 0.01% in FY25, down from 3.79% in FY24 due to high exceptional income from OTS in the previous year.

EBITDA Margin

EBITDA margin became positive for the first time in 6 years at 11.73% (INR 40 Cr) for FY25. Q4 FY25 EBITDA margin reached 19.4% (INR 21.5 Cr), while Q2 FY26 EBITDA rose 211% QoQ to INR 3.27 Cr.

Capital Expenditure

Not disclosed as a specific INR Cr figure, but the company is making strategic investments in product innovation and new product launches as of Q2 FY26.

Credit Rating & Borrowing

Ratings were reaffirmed following the Gainwell Group takeover. Finance costs for FY25 were INR 29.10 Cr, representing 8.5% of total revenue. Covenants require fund-based debt to remain below INR 250 Cr in FY25 and INR 300 Cr in FY26/27.

⚙️ Operational Drivers

Raw Materials

Steel and imported components for crane manufacturing; specific % of total cost not disclosed, but reliance on imports is high enough to create significant foreign exchange risk.

Import Sources

Global markets; specific countries not listed, but the company notes exposure to global economic conditions and geopolitical shifts affecting procurement.

Capacity Expansion

Current capacity not disclosed in MT/units; however, profitability in FY25 was driven by improved capacity utilization and process optimization efforts.

Raw Material Costs

Cost of materials consumed in FY25 was INR 163.01 Cr, representing 47.5% of total revenue. In Q2 FY26, material costs were INR 48.64 Cr, up 14.5% from INR 42.47 Cr in the previous quarter.

Manufacturing Efficiency

Inventory days were significantly reduced by 78.6%, falling from 1061 days in FY24 to 227 days in FY25. Inventory turnover ratio improved 398% to 2.49.

📈 Strategic Growth

Expected Growth Rate

38.50%

Growth Strategy

Growth is targeted through a multi-year program involving product range expansion (Manitowoc and Hyster ranges), process optimization, and capitalizing on synergies with Gainwell Group companies. The company aims to reach INR 475 Cr revenue in FY26.

Products & Services

Material handling and infrastructure equipment, specifically large cranes, Manitowoc range cranes, Hyster range equipment, and defense-grade material handling solutions.

Brand Portfolio

TIL, Manitowoc (collaboration), Hyster (collaboration).

New Products/Services

Ongoing project range expansion and new product launches in H2 FY26; specific revenue contribution % not disclosed.

Market Expansion

Expanding export operations and increasing the defense portfolio, which accounted for 45% of Q4 FY25 revenue.

Strategic Alliances

Technical collaborations with Manitowoc and Hyster; acquired by Gainwell Group via Indocrest Defence Solutions Private Limited.

🌍 External Factors

Industry Trends

Growing regulatory emphasis on sustainability and environmentally responsible products is requiring increased investment in compliance and reporting.

Competitive Landscape

Operates in a busy market for standard products but faces 'not too much competition' in the large crane segment.

Competitive Moat

Moat is built on technical collaborations with international leaders (Manitowoc, Hyster) and a strong presence in the defense sector. Sustainability is supported by the new management's ability to achieve a 4x revenue growth in one year.

Macro Economic Sensitivity

Highly sensitive to global economic conditions and geopolitical tensions which affect supply chains and product demand.

Consumer Behavior

Increased demand for infrastructure and defense equipment driven by government spending and industrial expansion.

Geopolitical Risks

Shifts in trade policy and geopolitical tensions are identified as primary threats to supply chain stability and export market access.

⚖️ Regulatory & Governance

Industry Regulations

Subject to evolving regulatory requirements for licenses, permits, and sustainability standards; failure to adapt can negatively affect operations.

Environmental Compliance

Not disclosed as a specific INR Cr figure, but identified as a trend requiring increased investment for compliance.

Taxation Policy Impact

Effective tax expense of INR 1.29 Cr on PBT of INR 4.19 Cr in FY25 (approx. 30.8%).

Legal Contingencies

Ongoing legal matters involving the company, former promoters, or management are noted as risks for fines or operational restrictions; specific case values not disclosed.

⚠️ Risk Analysis

Key Uncertainties

Failure to maintain capital adequacy for substantial working capital requirements could significantly impact liquidity and operations.

Geographic Concentration Risk

Not disclosed; however, the company is actively expanding exports to diversify geographic risk.

Third Party Dependencies

High dependency on international technical partners (Manitowoc, Hyster) for product range and technology.

Technology Obsolescence Risk

Technological advancements are cited as a factor that could materially differ actual results from projections if the company fails to adapt.

Credit & Counterparty Risk

Lower counterparty risk noted due to reputation of private and government clients in defense and mining, though government contracts involve procedural payment delays.