Tube Investments is Looking for OEM Partnerships

Tube Investments of India, a subsidiary of Murugappa Group, has stated that it plans to expand its presence in international markets through OEM partnerships and distributor channels. Exports will remain the company's primary growth driver, thanks to a sharp focus on offering differentiated products and niche applications. The majority of its exports have gone to the United States and Europe.

TII's executive vice-chairman, Vellayan Subbiah, told shareholders that 2021-22 would be a good year for exports, which is consistent with the company's strategy of increasing the share of exports in each of its businesses.

“Exports of tubular products accounted for more than 20% of engineering business’s revenue. The industrial chains business saw over 40% of revenues through exports. The mobility business, continued to grow in the global market, enhancing its export sales and capitalising on the opportunities in the micro mobility vehicle and fitness space. We have also built the manufacturing capability for an aggressive push in exports of bicycles into new geographies,” he said, in the company’s annual report 2022.

The company's capacity has grown across industries. It has opened a new tube mill in Chennai with advanced process technology, a new greenfield plant for industrial chains in Tiruttani, Tamil Nadu, an expanded CDW (cold drawn welded) tube plant in Rajpura, and an auto chain facility in Aurangabad. TII was committed to delivering on four key metrics: revenue growth, profitability, return on invested capital, and free cash flow.