Consumables Growth Underperformance
Consumables grew only ~2% YTD vs guided 15% due to delayed purchase orders and customer consumption pattern changes. Conversion of new customers has been pushed by 1-2 quarters.
TEGA / Q3-FY26 / risks
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Tega Industries · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Equipment Revenue Volatility
Equipment revenue declined sequentially from Rs 77 crore in Q2 to Rs 47.5 crore in Q3 due to project timing variability; management advises viewing business on full-year basis.
Acquisition Financing Uncertainty
While management stated current funds are sufficient, they indicated potential for additional equity raise if required. Refinancing fees will be incurred in future quarters upon deal closure.
Customer Concentration in Gold & Copper
75-77% of consumable revenues come from gold and copper mining sectors. Management deflected questions on Dina Prima segment contribution citing confidentiality, raising potential concentration risk opacity.