TIL - TIL
📢 Recent Corporate Announcements
TIL Limited has filed its compliance certificate for the Structured Digital Database (SDD) for the quarter ended March 31, 2026. The company confirmed that it has a non-tamperable internal system in place to track Un-published Price Sensitive Information (UPSI) as per SEBI PIT Regulations. During the quarter, the company identified and successfully captured 1 UPSI event in the database. This filing confirms the company's adherence to mandatory insider trading prevention protocols and corporate governance standards.
- Successfully captured 1 out of 1 required UPSI event during the quarter ended March 31, 2026
- Maintains a non-tamperable internal database with an audit trail for a duration of 8 years
- Compliance confirmed under Regulation 3(5) and 3(6) of SEBI (Prohibition of Insider Trading) Regulations, 2015
- System captures the nature of UPSI along with specific date and time of dissemination
TIL Limited has successfully completed the allotment of 1,20,91,760 partly paid-up equity shares following its Rights Issue. At the application stage, the company collected ₹123.75 per share, which includes a premium of ₹116.25 and ₹7.50 towards the face value. The balance amount for these shares will be payable in subsequent calls as defined in the Letter of Offer. This allotment expands the company's equity base to include over 7.03 crore fully paid-up shares and 1.21 crore partly paid-up shares.
- Allotment of 1,20,91,760 partly paid-up equity shares to eligible shareholders and renouncees.
- Application money of ₹123.75 per share received, including a premium of ₹116.25.
- Current paid-up capital for new shares stands at ₹7.50 per share of the ₹10 face value.
- Total fully paid-up equity shares now stand at 7,03,52,056.
- The partly paid-up equity share capital contributes ₹9,06,88,200 to the total capital base.
TIL Limited has announced the closure of its trading window for all designated persons starting April 1, 2026, ahead of its Q4 and full-year FY2026 audited financial results. The window will remain closed until 48 hours after the results are officially declared. Interestingly, the company is currently conducting a Rights Issue that closes on April 8, 2026. In accordance with SEBI circulars, Rights Entitlements transactions for promoters and designated persons are specifically exempted from this trading window restriction.
- Trading window for designated persons closes on April 1, 2026, for Q4 and FY2026 results.
- The ongoing Rights Equity shares issue is scheduled to close on April 8, 2026.
- Rights Entitlements transactions are exempt from the closure per SEBI Circular SEBI/HO/ISD/ISD/CIR/P/2020/133.
- The window will reopen 48 hours after the announcement of the audited financial results.
- Designated persons and their immediate relatives are prohibited from other trades during this period.
TIL Limited has announced a Rights Issue to raise up to ₹19,951.40 lakhs by issuing 1,20,91,760 partly paid-up equity shares. The issue is priced at ₹165 per share (including a ₹155 premium) and is offered to existing shareholders in a ratio of 11:64. The record date for eligibility was March 23, 2026, with the subscription period running from March 30 to April 8, 2026. Notably, Singularity Equity Fund-I and Singularity Growth Opportunities Fund - II have been identified as specific investors to subscribe to any undersubscribed portion.
- Total fundraise of up to ₹19,951.40 lakhs through 1,20,91,760 partly paid-up equity shares.
- Rights entitlement ratio fixed at 11 equity shares for every 64 shares held as of March 23, 2026.
- Issue price of ₹165 per share is 16.5 times the face value of ₹10.
- Subscription window opens on March 30, 2026, and closes on April 8, 2026.
- Singularity Equity Fund-I and Singularity Growth Opportunities Fund - II to act as backstop investors for undersubscription.
TIL Limited has finalized its Rights Issue to raise up to ₹19,951.40 lakhs by issuing 1,20,91,760 partly paid-up equity shares. The issue is priced at ₹165 per share, which includes a premium of ₹155, offered in a ratio of 11 shares for every 64 shares held. The record date is set for March 23, 2026, with the subscription period running from March 30 to April 8, 2026. Investors are required to pay ₹123.75 per share (75% of the issue price) at the time of application.
- Rights Issue size of up to 1,20,91,760 shares aggregating to ₹19,951.40 lakhs
- Issue price fixed at ₹165 per share with an entitlement ratio of 11:64
- Record date for eligibility is March 23, 2026, and issue closes on April 8, 2026
- Payment structured as ₹123.75 on application and ₹41.25 in subsequent calls
- On-market renunciation of rights entitlements ends on April 1, 2026
TIL Limited has finalized the schedule and terms for its upcoming Rights Issue, aiming to raise approximately ₹199.51 crore. The company will issue 1,20,91,760 partly paid-up equity shares to existing shareholders. The issue is scheduled to open on March 30, 2026, and will conclude on April 8, 2026. This capital infusion is a significant step for the company's financial structuring and operational needs.
- Total issue size of 1,20,91,760 partly paid-up equity shares
- Aggregate fundraise amount of approximately ₹199.51 crore
- Rights Issue opens on March 30, 2026, and closes on April 8, 2026
- Last date for on-market renunciation of Rights Entitlements is April 1, 2026
- New ISIN for Rights Entitlements is INE806C20026
TIL Limited has approved a Rights Issue to raise approximately ₹199.51 crore through the issuance of 1.21 crore partly paid-up equity shares. The issue is priced at ₹165 per share, with an entitlement ratio of 11:64 for existing shareholders. The record date to determine eligibility has been fixed as March 23, 2026. Investors are required to pay 75% of the issue price at the time of application, with the remaining balance to be called later.
- Total issue size of ₹199,51,40,400 involving 1,20,91,760 equity shares
- Rights entitlement ratio fixed at 11 shares for every 64 shares held
- Issue price set at ₹165 per share with 75% payable on application
- Record date for eligibility is Monday, March 23, 2026
- In-principle approvals already received from both NSE and BSE
TIL Limited has announced the final terms for its Rights Issue, aiming to raise approximately ₹199.51 crore. The company will issue 1,20,91,760 partly paid-up equity shares at a price of ₹165 per share. The Rights Entitlement ratio is fixed at 11 shares for every 64 shares held by eligible shareholders. The record date for determining eligibility has been set for March 23, 2026, with 75% of the issue price payable at the time of application.
- Total fundraise of ₹199,51,40,400 through the issuance of 1,20,91,760 equity shares
- Rights Entitlement ratio set at 11:64 (11 shares for every 64 shares held)
- Issue price fixed at ₹165 per share, representing the cost for a fully paid-up share
- Record date for eligibility is March 23, 2026
- Application payment requires 75% of the issue price upfront
TIL Limited has announced a further postponement of its Rights Issue Committee meeting, which was originally expected to take place on March 12 or 13, 2026. The meeting is now rescheduled for March 16 or 17, 2026, contingent upon receiving the necessary in-principle approval from the Stock Exchanges. This meeting is intended to finalize critical terms of the proposed fundraise, including the issue price, entitlement ratio, and the record date. The company has faced a series of delays regarding this meeting since March 5, 2026, due to pending regulatory clearances.
- Rights Issue Committee meeting rescheduled to March 16 or 17, 2026.
- Delay is attributed to pending in-principle approval from BSE and NSE.
- Meeting agenda includes fixing the record date, issue price, and entitlement ratio.
- This marks the latest in a series of postponements starting from March 5, 2026.
TIL Limited held an Extraordinary General Meeting on March 14, 2026, to approve the acquisition of a 60% stake in Tulip Compression Private Limited for up to ₹119.01 crore. This acquisition is a related party transaction as the stake is being purchased from Gainwell Commosales Private Limited. Additionally, the company received approval to significantly increase its borrowing limit to ₹600 crore to support business growth and the acquisition. The management highlighted that this move is aimed at capturing new prospects and opportunities in the compression sector.
- Acquisition of 60% equity (37,90,250 shares) in Tulip Compression Private Limited for ₹119.01 crore
- Shareholders approved increasing the company's total borrowing limit to ₹600 crore
- The acquisition is a related party transaction involving Gainwell Commosales Private Limited
- The EGM was conducted via video conferencing with 58 shareholders in attendance
- The move is intended to leverage synergies and expansion opportunities in the industrial equipment space
TIL Limited held an Extraordinary General Meeting on March 14, 2026, to seek shareholder approval for the acquisition of a 60% stake in Tulip Compression Private Limited for ₹119.01 crore. This transaction is a related party deal as the stake is being purchased from Gainwell Commosales Private Limited. Furthermore, the company proposed a significant increase in its borrowing limit to ₹600 crore to fund business operations and growth. The management highlighted that the acquisition is strategically aimed at capturing new market prospects and expansion opportunities.
- Proposed acquisition of 37,90,250 equity shares (60% stake) in Tulip Compression Private Limited.
- Total consideration for the acquisition is capped at ₹119,01,38,500 (approx. ₹119 crore).
- Shareholder approval sought to increase the company's borrowing limit to a maximum of ₹600 crore.
- The acquisition is a related party transaction involving Gainwell Commosales Private Limited.
- Management cited specific growth prospects and synergy opportunities behind the Tulip Compression deal.
TIL Limited has announced the postponement of its Rights Issue Committee meeting, which was originally slated for March 10, 2026. The rescheduling is due to the company awaiting in-principle approval from the Stock Exchanges for the proposed Rights Issue. The meeting is now expected to take place on March 12 or March 13, 2026, contingent upon receiving the necessary regulatory clearances. This meeting is critical as it will finalize the issue price, entitlement ratio, and the record date for shareholders.
- Rights Issue Committee meeting postponed from the original date of March 10, 2026.
- Meeting rescheduled for March 12 or March 13, 2026, pending Stock Exchange approval.
- Agenda includes fixing the record date, issue price, and entitlement ratio for the Rights Issue.
- Delay is attributed specifically to pending in-principle approval from BSE and NSE.
- The Rights Issue is a key fundraising step for the company's capital requirements.
TIL Limited has announced that its Rights Issue Committee meeting is now rescheduled for March 10, 2026. The meeting was previously postponed due to pending in-principle approvals from the stock exchanges regarding the proposed fundraise. During this upcoming session, the committee will finalize critical parameters including the issue price, entitlement ratio, and the record date. This procedural step is essential for the company to proceed with its capital-raising plans through the rights offering.
- Rights Issue Committee meeting rescheduled to March 10, 2026.
- Delay was caused by pending in-principle approvals from BSE and NSE.
- Agenda includes fixing the record date, issue price, and entitlement ratio.
- The meeting will address all matters related to the proposed Rights Issue fundraise.
TIL Limited has announced the rescheduling of its Rights Issue Committee meeting from March 8, 2026, to March 9, 2026. The postponement is due to the pending in-principle approval from stock exchanges regarding the proposed rights issue. During the upcoming meeting, the committee is expected to finalize the issue price, entitlement ratio, and the record date for the fundraise. This follows previous adjournments mentioned in communications dated March 5 and March 7, 2026.
- Rights Issue Committee meeting rescheduled to Monday, March 9, 2026.
- Delay attributed to pending in-principle approval from BSE and NSE.
- Meeting agenda includes fixing the record date, issue price, and entitlement ratio.
- Follows a series of adjournments originally initiated around March 5, 2026.
TIL Limited has announced that its Rights Issue Committee meeting is now rescheduled for Sunday, March 8, 2026. This follows previous postponements on February 27 and March 5, 2026, which were necessitated by pending in-principle approvals from the stock exchanges. The committee is expected to finalize critical parameters including the issue price, entitlement ratio, and the record date for the proposed Rights Issue. Investors should note that this meeting will determine the final terms of the capital infusion.
- Rights Issue Committee meeting rescheduled to March 8, 2026, following previous adjournments.
- Agenda includes fixing the record date, issue price, and entitlement ratio for the Rights Issue.
- Previous delays were attributed to pending in-principle approvals from BSE and NSE.
- The meeting will finalize the terms for the company's proposed fundraising through equity issuance.
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.