Tube Investments of India Limited was formerly known as TI Financial Holdings Limited. The company was originally incorporated as TI Financial Holdings Limited on 6th October 2008 under the Companies Act 1956 as a wholly owned subsidiary of erstwhile Tube Investments of India Limited (Demerged Company). The Manufacturing Business Undertaking of the Demerged Company was vested in/transferred to the company and the name of the company was changed to 'Tube Investments of India Limited'.Tube Investments of India has manufacturing locations across the country and has 4 product segments namely Cycles and Accessories Engineering and Metal Formed Products. The company also has Subsidiaries and Joint Venture Companies Viz. Shanthi Gears Limited Financiere C10 SAS Sedis SAS Sedis Gmbh Sedis Co Limited TI Tsubamex Private Limited Great Cycles (Private) Limited and Creative Cycles (Private) Limited.During FY 2017 Shanthi Gears Ltd (SGL) a subsidiary of the company renewed its focus on re-establishing itself in the market and gaining new customers. TI Tsubamex Private Limited' (TTPL) focus during the year was in setting up the manufacturing system and establishing a vendor base for supply of castings with rough machining. Tube Investments invested an aggregate Rs.10 Cr. in the equity share capital of TI Absolute Concepts Private Limited (TIACPL) with the joint venture partner also making an equal contribution as envisaged under the Joint Venture Agreement.The Company's Large Diameter Tube manufacturing plant got stabilized during the FY 2017. The Company continues to invest in facilities with a view to servicing its customers in a more timely and efficient manner modernizing its assets and aims to be the best in class. The new green-field bicycle plant at Punjab with a production capacity of 250000 bicycles per month was inaugurated during the year. The Company also started construction of a new plant in Rajpura Punjab to manufacture precision tubes. During FY 2017-18 TTPL successfully completed and delivered varied projects for different auto OEMs and their Tier 1 suppliers. The highlight was delivery of skin panel dies for an auto major's new project. The company was able to attract recruit and train tool & die engineers from reputed polytechnics such as Nettur Technical Training Foundation (NTTF) and Murugappa Polytechnic.During FY 2018 the Company had invested in the aggregate Rs.3.75 Cr. in the equity share capital of TIACPL with the joint venture partner also making an equal contribution as envisaged under the Joint Venture Agreement. The Company presently holds 50% of TIACPL's equity capital. Ciclo Cafes operated by TIACPL are functioning at Kotturpuram (Chennai) Hyderabad and Bengaluru.The Scheme of Arrangement between the company and TI Financial Holdings Limited formerly known as Tube Investments of India Limited (Demerged Company) and their Shareholders under Sections 230 to 232 and other applicable provisions of the Companies Act 2013 was approved by the Board of Directors of both the Companies on 3 November 2016. The Scheme provided for the demerger of the Manufacturing Business Undertaking of the Demerged Company into this Company on a going concern basis with Effect from the appointed date of 1st April 2016. The salient features of the Demerger are as under: a. The Demerged Company and the Company has made applications and/or petitions under Section 230 read with Section 232 of the Companies Act 2013 and other applicable provisions of the Companies Act 2013 to the National Company Law Tribunal Chennai ('Tribunal' or 'NCLT') for sanction of this Scheme and all matters ancillary or incidental thereto. b. The whole of the undertaking and assets and properties of the Manufacturing Business Undertaking of the Demerged Company shall stand transferred to and vested in the Company with all the rights title and interest pertaining to the Manufacturing Business Undertaking. c. The Scheme of Arrangement has become Effective from the Appointed Date i.e. 1st April 2016 but operative from the Effective Date i.e. 1st August 2017 being the date of filing of a certified copy of the Order of NCLT by the Company and the Demerged Company with the Registrar of Companies Tamil Nadu Chennai. d. Equity Share Capital of the Company i. Equity Share Capital of Rs.0.11 Cr. of the Company as on the Appointed Date stands cancelled and credited to Capital Reserve. ii. The Company has issued and alloted 1 fully paid up Equity Share of Rs.1 each for every 1 fully paid up Equity Share of Rs.2 each held in the Demerged Company.Further consequent to the demerger sanctioned by the National Company Law Tribunal Chennai vide its Order dated 17th July 2017 and effective 1st April 2016 the Appointed Date under the Scheme of Arrangement (Demerger) Cholamandalam Investment and Finance Company Limited ceased to be an Associate of the Company Cholamandalam MS General Insurance Company Limited ceased to be subsidiary of the Company and Cholamandalam MS Risk Services Limited ceased to be the Joint Venture of the Company.The Company established a Global Depository Receipts ('GDR') Programme by executing a Depository Agreement on 29th January 2018 with Bank of New York Mellon New York USA ('BNYM') pursuant to which BNYM acts as the Depository for the GDRs issued in respect of 4223460 (representing 2.25% of the Company's paid up capital) underlying equity shares of the Company allotted pursuant to the Scheme of Arrangement for Demerger between TI Financial Holdings Limited (formerly Tube Investments of India Limited - Demerged Company) and the Company (the Resulting Company).On 9 March 2018 the Group acquired 80% shares in Great Cycles (Private) Limited and Creative Cycles (Private) Limited bicycle and component manufacturing companies based out of Sri Lanka for a consideration of Rs.16.98 Cr. (USD 2.61 Million) and Rs.6.47 Cr. (USD 0.99 Million) respectively and accounted a capital reserve of Rs.0.38 Cr. The acquisition is part of the Group strategy for securing the backend supply chain in the mass premium and super premium segments of its bicycles business.Pursuant to the Scheme of Arrangement as sanctioned by the Order dated 17th July 2017 of the National Company Law Tribunal Chennai 187490591 Equity Shares in the Share Capital of the Company of the face value Rs.1 each aggregating Rs18 7490591 were allotted to the list of persons and as per the entitlement as on the Record Date of 28th August 2017. The Equity Shares of the Company were admitted to listing on the Stock Exchanges viz. BSE Ltd and National Stock Exchange of India Ltd. and commenced trading on the Stock Exchanges with effect from 2nd November 2017.In 2017-18 67 new model bicycles were launched and 60 old models were refreshed contributing to 41% of the turnover from such new products and refreshes. Multiple innovations were introduced for the first time in the industry notable among them being the Anti-Slip Chain and a range of ergonomic handlebars.