TIL Limited is engineering a swift turnaround. The material handling and industrial machinery builder more than doubled its top line during the September 2026 quarter, pulling in ₹192.93 crore in consolidated revenue from operations. That marks a 146.5% spike over the ₹78.27 crore booked in the same period last year.
The bottom-line hemorrhage slowed to a trickle. Consolidated net loss dropped 83.1% to ₹1.31 crore, down from a painful ₹7.73 crore deficit a year ago. Sequentially, the recovery gained brisk momentum: revenues climbed 64.7% from the ₹117.13 crore recorded in the June quarter, while losses contracted by 76% from ₹5.45 crore. Loss attributable to owners of the company shrank 80.7% to ₹1.49 crore, with non-controlling interests delivering an ₹18 lakh profit. Loss before tax narrowed 85.9% to ₹1.30 crore from ₹9.24 crore. Diluted loss per share settled at ₹0.17 compared to ₹1.36 in the year-ago quarter, while total comprehensive loss came in at ₹1.33 crore against ₹7.66 crore.
The explosive revenue climb stems straight from a tactical acquisition. On May 8, 2026, TIL took over a 60% controlling stake in Tulip Compression Private Limited, executing a ₹119.01 crore purchase agreement with Gainwell Commosales Private Limited for 37,90,250 equity shares after securing shareholder clearance at an extraordinary general meeting on March 14.
Packing that acquisition onto the balance sheet fundamentally shifted the company's operating profile. The newly carved-out "Packaging, Erection, Commissioning and O&M of Gas Compressors" division generated ₹92.27 crore of revenue during the second quarter alone, yielding a segment profit of ₹82 lakh. Tulip Compression’s auditors confirmed a standalone net profit after tax of ₹45 lakh for the quarter and ₹2.19 crore across the first six months. Across the entire first half of FY27, the gas compressor arm brought in ₹130.79 crore in revenue and ₹3.15 crore in segment earnings.
| Financial Metric (Consolidated) | Q2 FY27 (Sep 2026) | Q2 FY26 (Sep 2025) | YoY Change (%) | H1 FY27 | H1 FY26 | YoY Change (%) |
|---|---|---|---|---|---|---|
| Revenue from Operations | ₹192.93 cr | ₹78.27 cr | +146.5% | ₹310.06 cr | ₹141.18 cr | +119.6% |
| Total Income | ₹197.79 cr | ₹81.45 cr | +142.8% | ₹315.24 cr | ₹152.16 cr |
The core business pulled its own weight. Revenue in the legacy Material Handling Solution division climbed 28.6% to ₹100.66 crore during the September quarter, up from ₹78.27 crore a year earlier. Across the first half, segment revenues expanded 27% to ₹179.27 crore compared to ₹141.18 crore.
Even better for balance sheet health, the segment stopped burning through cash at prior rates. Division losses before tax contracted 44.8% to ₹6.85 crore from ₹12.42 crore in the quarter. For the full half-year period, those losses halved to ₹16.81 crore against ₹30.51 crore previously.
On an unhedged standalone basis—which reflects the legacy machinery operations without the gas compression subsidiary—TIL generated ₹100.66 crore in quarterly revenue, an increase of 28.6%, while total income rose 29.6% to ₹105.52 crore. Standalone quarterly net loss contracted by 77.9% to ₹1.71 crore from ₹7.72 crore. First-half standalone losses fell 36.4% to ₹8.87 crore from ₹13.94 crore.
Growth brought heavier manufacturing overhead. Total consolidated expenses climbed 119.4% to ₹198.96 crore for the quarter, pushed up by expanded workshop activity and the direct costs of compressor integration. Raw material intake surged: cost of materials consumed shot up 123.8% to ₹108.86 crore.
Payroll commitments also expanded as TIL absorbed specialized engineering personnel, pushing employee benefit expenses up 56.9% to ₹19.47 crore. Other income provided additional relief, climbing 52.8% to ₹4.86 crore compared to ₹3.18 crore in the corresponding quarter last year.
For the full first half of FY27, consolidated operational revenue hit ₹310.06 crore, up 119.6% from ₹141.18 crore. Total income reached ₹315.24 crore from ₹152.16 crore. Half-year net loss shrank 51.5% to ₹6.76 crore from ₹13.95 crore, while the loss attributable to owners narrowed 45.2% to ₹7.64 crore. Pre-tax losses retreated to ₹8.61 crore from ₹19.53 crore, leaving half-year loss per share at ₹0.86 against ₹2.45. Comprehensive half-year losses wrapped up at ₹6.84 crore versus ₹13.84 crore.
WITH Tulip Compression now fully integrated into daily accounting, TIL heads into the second half of the fiscal year focused on clearing the legacy losses remaining in its material handling shop floors. Factory output across both cranes and compression assemblies will dictate whether the company crosses into sustained bottom-line profitability before the financial year closes.
| +107.2% |
| Loss Before Tax | ₹1.30 cr | ₹9.24 cr | -85.9% | ₹8.61 cr | ₹19.53 cr | -55.9% |
| Consolidated Net Loss | ₹1.31 cr | ₹7.73 cr | -83.1% | ₹6.76 cr | ₹13.95 cr | -51.5% |
| Loss Per Share (EPS) | ₹0.17 | ₹1.36 | -87.5% | ₹0.86 | ₹2.45 | -64.9% |
| Total Expenses | ₹198.96 cr | ₹90.68 cr | +119.4% | — | — | — |