TIL Limited — Investor Meet, 30-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

TIL Limited posted a sharp FY25 turnaround with revenue at INR343 Cr, up 4x YoY, and EBITDA rising to INR40 Cr, the best in 6 years. Q4 revenue jumped 240% YoY to INR111 Cr, EBITDA hit INR21.5 Cr, and PAT turned positive at INR9.8 Cr. Growth was driven by improved capacity utilization, cost cuts, and supply chain localization. The company sold 242 machines, including 40 rough terrain cranes to the Indian Army, while adding new aerial work platforms and high-capacity forklifts.

Management plans 5-6 new non-defense products over two years, export expansion in Asia Pacific, and a dedicated defense SBU. Alliances with Manitowoc, Hyster-Yale, and Snorkel deepened, and INR25 Cr capex approved to scale toward INR800-1,000 Cr revenue over 3-4 years. Working capital improved sharply with inventory days down from 1061 to 227. EBITDA margin guidance is 11-12%, with Q4’s 20% margin partly due to one-off orders. Export growth and equity raises to support capex underpin a confident multi-year growth outlook.