Tega Industries Ltd (NSE: TEGA) Q4 2025 Earnings Call dated May. 15, 2025
Corporate Participants:
Unidentified Speaker
Sharad Kumar Khaitan — Chief Financial Officer
Mehul Mohanka — Managing Director and Group Chief Executive Officer
Bhavya Shah — Orient Capital
Pratik Basu Roy — President
Analysts:
Unidentified Participant
Riddhi shah — Analyst
Deepak — Analyst
Kirtan Mehtao — Analyst
Mayang Bhandari — Analyst
Salil Desai — Analyst
Chirag Muchalla — Analyst
Manish Oswal — Analyst
Mukul — Analyst
Presentation:
operator
Ladies and gentlemen, good day and welcome to the Tega Industries Limited Q4FY25 earnings conference call hosted by MUFG NTIME. As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing Start then zero on your touchstone phone. Please note that this conference has been recorded. I now hand the conference over to Mr. Bhavyashah. Thank you. And over to you sir.
Bhavya Shah — Orient Capital
Thank you. Good evening and welcome to Q4NFY25 earnings conference call of Tech Industries Limited. Today on the call we have with us Mr. Nihul Mohanka, Managing Director and Group CEO. Mr. Sharat Kumar Khetan, CFO and Mr. Pratik Roy, Product Management, Global Sales and Marketing. Before we proceed with this call, I would like to give a small disclaimer that this column may contain certain forward looking statements which are based on merits, opinion and expectations of the company head of date. A detailed statement has been given on the company investor presentation which has been uploaded on the stock exchange.
I hope everyone had a chance to go through these results. Now I would like to hand over the call to Mr. Mehul Mohanka for his opening remarks. Over to you sir.
Mehul Mohanka — Managing Director and Group Chief Executive Officer
Thank you Bhavya. Good evening and a warm welcome to all the participants on the call. I’m joined this evening by Mr. Yawar Imam who’s our director on the board. Mr. Pratik Basu Roy, President Product Group and Sales and Mr. Sharat Kumar Khetan who’s our CFO. The total revenues of the group for the year ended 31st March 2025 stood at 1681.8 crores with an EBITDA of 387.4 crores. That is an annual EBITDA margin of 23%. The group revenues has been higher by rupees 166.9 crores or 11% in comparison to the same period last year. That is financial year ended 31st March 24th.
I’m excited to inform you that during Q4 of FY24 25 we recorded the highest quarterly revenues of rupees 542.8 crores which which is higher by 6% over the same quarter last year where we had total revenues of 511.2 crores. This in turn resulted in EBITDA margins of 29% during quarter four of FY 2425. We have an order book of 1029.2 crores as at 31 March 2025, out of which executable orders within one year is 591.2 crores. A significant portion of our products and solutions are customized for the gold and copper mines and we believe there is a robust demand for both these metals.
The world is witnessing heightened uncertainty driven by geopolitical tensions, whether it is Russia Ukraine or the Israel Hamas war or the recent India Pakistan issues, along with the wave of tariffs and protectionist measures led by the US leading to a disruption in the global trade flow. Investor interest is likely to strengthen as gold appeal as a safe haven, asset and portfolio diversifier heightens amid global economic uncertainties and financial market volatility. The demand for gold appears to be robust with an upward price trend as geopolitical tensions continue. There is strong central bank purchases that offer demand support coupled with declining grades which will in turn lead to an increased consumption of Tega’s products.
Copper’s natural properties, from its durability to high conductivity, makes it the material of choice for the green transition, contributing to solutions for modern climate challenges. Copper demand is expected to double by 2050, driven by clean energy requirements and critical decarbonization technologies such as wind turbines, photovoltaics panels, heat pumps, electrical vehicles and others. Copper is also poised for growth driven by infrastructure expansion, evolving technologies, setting up data centers and increased demand of electronics coupled with supportive government policies. We had earlier mentioned that there has been a delay in our Chile project mainly due to non receipt of statutory approvals on time.
I would I’m pleased to inform all of you that all such approvals have now been received and we have all the clearances to commence construction and the commercial production of our new facility is expected to be operated by middle of next calendar year. I would like to assure you that no sales are impacted by such delays as we have put up alternate plans at Chile and have all evaluated and also evaluated the options of shipping from our other plants as well if required. I would like to express our sincere gratitude to all our investors for their unwavering faith in our company.
Thank you for your continued support and now I would like to hand over to Sharad to take you through the financial performance of the company for the period under review.
Sharad Kumar Khaitan — Chief Financial Officer
Thank you Mehul. A very warm welcome to everyone and thank you for joining the earnings call for the quarter four of FY25 and for the full financial year FY25. The group income for FY25 stood at rupees 16,818 million with an EBITDA of rupees 3,874 million. That is an EBITDA margins of 23%. It may be noted that for financial year 24 group revenues was 15,149 million with an EBITDA of 3,426 million, that is an EBITDA margin of 23%. We have achieved a double digit revenue growth of approximately 11% during FY25 over FY24 in spite of the heightened uncertainty driven by geopolitical tensions and supply chain issues.
The consumable business segment contributed 87% to the group revenues and the equipment business share stood at 13% of the group revenue. The revenue from operations of the consumable business witnessed an increase of rupees 1,396 million or 11% with FY25 revenues at 14,301 million with 12,905 million. Last year. The revenue from operations of the equipment business witnessed an increase of Rupees 97 million with a 5% increase over revenues of FY24. The growth in the revenue of the equipment business is impacted mainly account commercial issues like non receipt of advance from customer, delay at customer site, delay in receipt of manufacturing clearance from customers.
We are in discussion with our customers to ensure that the goods are lifted and all approvals are released on time. We have been able to maintain healthy blended gross margins of approximately 57% in line with last year in spite of raw material volatility and global uncertainties as witnessed during the year. As mentioned earlier, we have achieved steady ebitda margins of 23% for the year. At the group level, we have achieved the highest quarterly revenues of 5,428 million in quarter four of FY25 with EBITDA margins of 29%. The revenue from operations of the consumable business for the quarter ended March 25 stood at rupees 4605 million.
They serviced rupees 4493 million during the same period last year. That is an increase of rupees 112 million. The revenue from operations of the equipment business for the quarter ended March 25 is rupees 793 million as against rupees 586 million during same period last year. That is an increase of rupees 207 million approximately 35%. If we compare the quarter ended March 25, we service the immediately preceding quarter ending December 24. Then we observe that the revenue from operations of the consumer business is rupees 4605 million visa with Rs. 3556 million during the immediately preceding quarter resulting in an increase of Rupees 1049 million or 29%.
The revenue from operations of the equipment business for the quarter ended March 25 is rupees 793 million as against 547 million during the December 24 quarter, resulting in an increase of 45% quarter on quarter. The order book for both the business segments, consumables business and the equipment business remains strong. As informed earlier, we have an order book of 10,292 million as of 31st March 25th, out of which executable orders within one year is approximately 5,912 million. Thank you very much for your time. And now the forum is open for any questions you may have.
Questions and Answers:
operator
Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press Star and one on their touchstone telephone. If you wish to remove yourself from the question queue, you may press Star and two participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assemble. The first question is from the line of Riddhi Shah from SAS Capital. Please proceed. Thank you for the opportunity. I have a question. Africa is a high growth region for TESA.
With TMML’s cost effective equipment gaining traction. Can you quantify the revenue contribution from Africa and FY25 and outline the plan to expand Dynaprime and PMM’s footprint?
Riddhi shah
Ma’ am, Africa contributes about 20% of the group revenue. But McNally is currently 100% focused on India and we have not expanded yet globally. We have that vision to take MacNally global, but it will take a couple of years. Once we have the processes systems which we have done to a large extent and have those equipments of larger sizes etc. Ready. We want to hit the global market with the Tiga MacNelly portfolio. But it will take us about one and a half to two years before we hit with the McNally products at a global stage.
Unidentified Speaker
Okay. Okay, thank you. I have a second question also like Dyna prime has been a key driver as we know. So what is the current run rate. For Dyna prime and how?
Riddhi shah
Ma’ am, it’s a very confidential information and we don’t give the specific details of Dyna Prime. We like to refrain from giving any specific information by facilitating the product level details, especially Dynaprame and the mill business.
Unidentified Speaker
Okay, but you won’t be providing like how many additional top tier global miners. Are in the pipeline for adoption in. FY26 to maintain its 50% growth momentum.
Riddhi shah
Also ma’ am, we have been, if you see our past trends, over a period of 57 years we have been growing at an average cagrade of about 50%. And we are hopeful to maintain a good track record in the near future also we will definitely maintain that. But giving customer wise detail etc. Being a little sensitive, we would prefer not to share this information at this stage. We work with almost all the top mining groups and companies in the world now.
operator
Okay. Okay, thank you. Thank you. The next question is from the line of Deepak from Sundaram Mutual funds. Please proceed.
Deepak
Yeah, Am I audible?
Riddhi shah
Yeah, Deepak, please. Go on, Go ahead.
Deepak
Yeah. So my first question is regarding, you know, what is the demand outlook for consumable in FY26 means are we seeing any kind of demand headwinds? Because if you look at your consumable growth rate for the whole year it’s around 11%. Right? Earlier it was guided at 15%. So what is your estimation? Was there any order difference in the consumable in Q4 which will come through in Q1 or Q2 of next year? What is the demand outlook? Are there any headwinds for the consumable business?
Pratik Basu Roy
So hi Deepak, this is Pratik here. So our guidance remains firm. It’s only a time difference that has come in between Q2, some of the orders that in Q4, sorry, projects for that and which is coming, which is expected to come out in Q1 and Q2 going forward. So there’s no loss, but more of a defilement that’s come through. Our initial guidance remains the same.
Deepak
Okay. And second on your cash flow statement. So I observed that this year we have spent around 170 crore in a fixed asset. So could you just break up where have we spent this 170 crore in FY25? And what is our capex for let’s say FY26 and 27?
Pratik Basu Roy
Deepak, capex includes growth, capex, sustenance, capex and certain specially designed assets which are deployed at all our manufacturing locations and at installation sites as well. As far as the CAPEX guidance is concerned, we have our Chile project which will have about 30 to 35 million dollars of capex expenditure. Then we have our DH debottleneaking project. Which is ongoing. And apart from that we have about 5 to 6 million dollars of maintenance capex every year.
Deepak
And so the H capex will be how much?
Pratik Basu Roy
About 30cr is the H capex.
Deepak
Okay. And so two questions I have on equipment side. So this quarter we have shown a very good ebitda margin at 16.6%. Right. Means you have exceeded your own kind of guidance on margin front in equipment. So is there any one off or is this 16% EBITDA margin in equipment is sustainable for next year as well?
Pratik Basu Roy
You see, you should always see our numbers on a full year basis. So we have improved from our EBITDA margins of last year when we were and have considerably improved the processes systems at data maximally. And it’s all about an operating leverage and we intend to keep the group momentum. But yes, 16, 17% on a full year basis for an equipment business looks little challenging. But yes, we have a target to have decent EBITDA margins going forward.
Deepak
Okay. And sir, on that NMDC order book, so have we executed any of the order which we won in let’s say June July of 2024? If I’m not wrong, it was around 120 crores, right? How much did we execute in FY25 and how much we plan to execute in FY26?
Pratik Basu Roy
A significant portion of this order is going to get executed in the current financial year which is FY 2526. A very small proportion has been done in the last financial year but a significant chunk majority of that is coming in FY26.
Bhavya Shah
Okay, so then just to summarize means, what is our growth guidance for equipment and consumable and EBITDA margin guidance for both for FY26.
Pratik Basu Roy
Deepak, we have navigated through the challenges in the past and have a clear pathway for growth and are well positioned to keep a strong momentum. So if you see the track record, we have had decent double digit growth. So there have been years when we are even grown at about 2327 odd percentage. And we would like to focus on the trajectory and work towards enhancing the shareholder value.
Deepak
Anything which you can quantify.
Pratik Basu Roy
You see if you see a past trend then we have that average growth rate of about 50 naught percent and we intend to maintain that track record.
Deepak
Okay, thank you very much.
operator
Thank you. Before I take the next question, I would like to remind participants that you may press Star in one to ask a question. The next question is from the line of Kirtan Mehtao from Barodao, BNB Paribas Mutual fund. Please proceed.
Kirtan Mehtao
Thank you sir, for the opportunity. Coming Back to the Q4 mix, what I understood was that this is more related to the timing difference and this will come through in Q1, Q2. So can we consider the FY26 growth as 15% plus sort of 4% difference? More. Closer to 20%.
Riddhi shah
See, there’s always a overlap between two financial years. So we till we have a good order book and the orders are intact, that is what we focus upon. So if you have the orders in hand and the order books are intact, that goes into the revenue. Whether it’s into a particular financial year, gets spilled over to the next. Doesn’t bother us because our manufacturing capacities are built around the order book. And the delivery to the customers again is the same.
Kirtan Mehtao
In terms of the FY26 equipment proportion, where do we expect it to grow from 13% to what level?
Riddhi shah
It should definitely be a higher proportion. We should be able to have at least 20%, 20, 25% coming from the equipment business in the overall scheme of things.
Kirtan Mehtao
One question was about the receivable. When we look at this Tejas $10 result, there has been an increase in the receivable. The same is sort of not visible in the consolidated. Could you elaborate what it attributes to?
Riddhi shah
You see, when you have a standalone accounts, there are certain transactions which we have with our group entities whereby we transport the good and then you have the third party billing coming from those entities. So higher receivable in a standalone is because of the outstanding from such parties. At a group level, all of those get eliminated because we all inter company transactions are eliminated. When we have the console financial statements.
Kirtan Mehtao
And the standalone receivables which we have seen in the increase, will this get sort of nullified over next one or what?
Riddhi shah
Yes, because all of these shipments, what we have done, they crystallize as revenue in the subsequent quarters and the money is flowing for the year.
Kirtan Mehtao
Sure, sir. On the Dynac prime, is there a possibility to give some color in terms of how we are developing into the market and how far we have come on the journey in terms of taking the market share? Any color would be useful.
Riddhi shah
As far as Enterprime is concerned. We are being able to establish the products and solution with our customers and wherever we have done the installations, we have got very good results and savings. What we have committed to our customers, we have been able to deliver that. But we would like to refrain from giving any specific data on Dynap prime because of sensitivities involved here.
Kirtan Mehtao
Sure. Thank you.
operator
Thank you. The next question is from the line of Mayang Bhandari from Asian Market Securities. Please proceed.
Mayang Bhandari
Yeah, thanks for the opportunity. Just on this standalone number of full. Year 21% growth, is it possible to give what kind of contribution we had from the execution of the large order. That we are executing in Europe.
Riddhi shah
We see our business portfolio at a total level and we have been able to have decent EBITDA good ebitda margins of 23% for the full year basis. Customer wise details. We don’t prefer to share specific to any specific customers. So I think it was 600 crore total. And yes, revenue is there. Revenue details are there with you. It’s there in the public domain margin. We cannot share customer specific data. Okay.
Mayang Bhandari
Is it high margin, low margin than the usual business?
Riddhi shah
It’s a part of the entire group and it helps us maintain our EBITDA margins what we have been able to deliver.
Mayang Bhandari
Secondly, just understanding from a couple of competitors perspective in Metso and all have. Highlighted that March quarter has seen good. Pre ordering from us and across the. Board we have seen that because of. The tariff uncertainty there was increased. Procurement in the US So is that the. Same thing that you have kind of. Observed or maybe if you could highlight the impact of the tariff changes on your business? Impact on the consumables business?
Mehul Mohanka
Yeah. So on the tariff we don’t see any impact on our business in the US because all our competitors manufacture outside of the US So. So if tariffs, whatever it may be, in whichever shape and form will be applicable to the industry at large and applicable to all our competitors and peers as well. So it’s going to have a balancing out effect in time to come in terms of whichever way the tariffs go. So there is no material impact on the tariff.
Mayang Bhandari
And in terms of the mining industry. Are you seeing any impact increased activity. From Chinese from Chinese dumping perspective in. Other geographies other than us we haven’t seen any of that.
Riddhi shah
Okay.
Mayang Bhandari
Lastly, could you give any finance cost to forecast for 26 going forward? It’s going to be in line with the current financial. If you see the finance cost at a group level has come down because we have repaid certain portion of our debt, etc. And we have taken the benefit of lower interest rates as well and that trend is going to continue. Okay sir, thank you. That’s it from my side.
operator
Thank you. The next question is from the line of Salil Desai from Marcellus Investment managers. Please proceed.
Salil Desai
Thank you. Sharad, I had a question on this deferral of orders and revenue bookings I know this has happened for a couple of times in the last one year or so. In such a situation, how do you kind of manage production planning? How do you manage working capital? What protection do you have with the client, basis in order and then delays and does not pay in advance, what would that impact be on business operations and on profitability?
Sharad Kumar Khaitan
See, there’s always a sufficient time cushion. Even the customers keep when they place orders on us. And we have been trying as far as risk mitigation is concerned, we have those inventory, raw materials in place, we try to book the shipping lines in advance and try to ensure that customer deliveries are done on time. But because of these uncertainties, which we have witnessed over the last one year, because of geopolitical tensions or shipping lines, containers not available, etc. Just to give a perspective, even last week when this India Pakistan thing had happened, there were a lot of concerns even about the portability on the western part of the country.
So these are part of the challenges of running a business. And we have our colleagues and team which takes care to ensure all of this risk mitigation is done so that the deliveries to the customers are done on time.
Salil Desai
My question is, if the customer does not pick up, like you said, that some people have not paid your branches or not lifted the material, in that case, what is the response? What is the option that you have to.
Sharad Kumar Khaitan
Again, there can be delays, etc. Even on the part of the customers not picking up or lifting up the material. But all of this is a part of the business and these are all assured things. There’s been no defaults per se, as such, and that is how it is. So one month, a couple of months here, there doesn’t make much of a difference to us.
Salil Desai
In that case. Given how much uncertain the world is then do you think giving say a guidance of 15% revenue growth might be a little probabilistic rather than more realistic?
Sharad Kumar Khaitan
You see, on an average, if you see last five, six years, so that is the guidance, what we gave is an average growth over the past several years actually, and certain years we have even exceeded way past the 15% mark actually. So on an average, if you see, we have been able to maintain that and that’s how we intend to move forward also. So you see, we have a significant chunk of our business from repeat businesses, right? Which is kind of an issue because. And they will have to run those mills and the entry and exit barriers are also very high for all of them.
So that part is more or less issued and that gives Us this confidence.
Salil Desai
What is at risk is the new.
Sharad Kumar Khaitan
Business that comes in that might have a. But that’s very, very small part of it.
Salil Desai
I see. That’s what I was surprised that given that it’s such a repeat, the nature of the business is such that the visibility should be high. But still in the last three, four quarters we have been missing, it’s been hit and miss on the growth target. So that was what it is just.
Sharad Kumar Khaitan
About, you know, a little change in the customer’s order cycle. So if you see there have been years like I told you earlier also we have not well found 15% mark. So we should not see a year in escalation because of these uncertainties. It’s not only our industry or we as an organization have got impacted. It’s across the globe people have got impacted, organizations have got impacted and we’re all learning to see them and move forward. So if you see on an average the growth momentum is there and we have a strong belief that we will be able to deliver because we don’t see any slowdown at any of our customers end, a timing issue is well manageable and that’s the challenge we as professional managers run the business with actually.
Salil Desai
That’s good to hear. And lastly another question related to this is the orders on hand which are executed in the next 12 months come off a little from in the last two quarters 600 odd crores to 760 crores in December quarter and then about 590 crores now. Does that impact. How should one read this in terms. Of translation to revenue in the next 12 months?
Sharad Kumar Khaitan
I don’t think there’s much to read into it. It’s just a question of the mix that comes in between the various customers we have globally. So it’s just a mix effect. I don’t think there’s much to read into it.
Salil Desai
Thank you so much.
operator
Thank you. The next question is from the line of Chirag Muchalla from Centrum Broking. Please proceed.
Chirag Muchalla
Yeah, thank you. And good evening to everybody, sir. Firstly on the consumer consumable segment, can you speak about in FY25, you know how various regions have performed and which regions are driving growth in association with that? While in Chile we are in the process of setting our new plant. But for other manufacturing locations overseas like South Africa, Australia etc. What is our capacity utilization there and do we foresee any need to expand capacities there over the next 12 years?
Riddhi shah
The average capacity utilization which we have is about 60, 65% and we plan for our capacity Is well ahead in advance.
So capacity is not a constraint for us at any point of time. And as far as the growth is coming we are seeing growth across geographies and locations so we are pretty confident Chile and South Africa everything will contribute to the growth momentum of the company.
Chirag Muchalla
Okay, so South Africa or Asia Pacific etc those manufacturing locations of ours is the brownfield expansion taking place or it is not required in the medium term.
Riddhi shah
wherever required we are doing the expansion plan. For example we have taken the age Capex plan in India. Correct. Like I told earlier it’s about 30 cr.
What is committed to the days expansion plan?
Chirag Muchalla
Correct. Okay, so second question is actually within consumables our non liner portfolio. So you know since this portfolio is highly profitable, just wanted a sense on you know over the last one or two years how this portfolio has evolved and you know, I mean how the growth here is and within consumable what is the percentage revenue share of this portfolio now non milliner I don’t think we will as we don’t give a breakup as we have earlier Also within the consumables our business is divided into consumables and equipment.
So in terms of. But just to give you a sense the non mill businesses also have seen a robust growth. So keep it at that. Is it at least possible to qualitatively say within non mill what products are doing well and whether the growth is higher than the company average or in line with company average. It’s in line with company average and for which product we have got wear components which has got the liners for mill shoots. We have got the conveyor components, we have got hydrocyclones and many screens and trommels so all of them are doing well in their respective.
Riddhi shah
Okay. And sir, lastly on the equipment segment so there as we have been investing in people, processes etc. So in the domestic market, for the domestic market if you can speak about, you know, I mean the improvement that we have seen in our capability and as far as upcoming tenders etc are concerned do we expect you know like NMDC to win much more tenders in equipment segment in the near term?
Riddhi shah
Yeah. So basically now that in the domestic sector there are two areas which is the high growth area. One is the power sector. Okay. And also on the steel but the steel in the last couple of months the speed has gone down but power we still consider that the power and aggregate will continue to be. So like we done with the NMDC project we are some of the tenders which are expected in the next few months we are collaborating with number of parties the way we have done for NMDC to code for this. Now some of the standards, the timelines when it is going to be decided is a little heavy now.
But we expect quite a few tenders to come in the next five six months where we will be collaborating with a number of EPC contractor to quote as a consultant.
Chirag Muchalla
Okay. Okay, that’s it from my side.
operator
Thank you. Before I take the next question, I would like to remind participants that you may press star in one to ask a question. The next question is from the line of Manish Oswal from Mirabal Bank Securities Private Limited please.
Manish Oswal
Yes sir. Thank you for the opportunity and I joined the call little late so maybe repeated few questions. So first on the operating cash flow generation during the year compared to our EBITDA growth. So definitely we have seen some increasing inventory as well as receivables. So is there any I mean something spillover effect which is reflecting the working capital or which will correct in the coming quarter? Can you comment on that?
Riddhi shah
We are a cash surplus company and it’s just a matter of time with the debtors realization coming in the subsequent quarters and the inventory getting the goods getting built. All of this will rely in the cash flows and strengthen the cash flows further. But we are, we have got sufficient cash flows and we are having no issues with respect to the same.
Manish Oswal
Second is will you quantify the amount of orders which spill over to the coming quarters in the call?
Riddhi shah
It’s very difficult to give a number like this because you know it depends on when upon the customer cycle, the timing of receipt of the order, etc. But yes, we are confident of the growth trajectory of the company and that is what we have commented upon earlier.
Manish Oswal
Just taking your comment in the in the past you said years where we have a lower growth in few years we have reported it higher growth even 22, 23%. If I understand that trend then the F25 growth trajectory then F26 should be literally higher than the 15% which you are providing.
Riddhi shah
Sir, what we need to see is the company’s growth rate at an average say a 56 years CAGR basis is that is what we should look for. You know there are years when we have got very high phenomenal growth then maybe we have got a 13 14% growth next year. So as the numbers come in we will keep you informed of that. What we can commit to you and see at this moment is that the business is going moving in the right direction, the inflows are strong and we expect the momentum to remain buoyant at this stage.
Manish Oswal
Thank you sir. Thank you.
operator
Thank you. The next question is from the line of Mukul from insightful investment managers. Please.
Mukul
Could you provide the full year revenue and ebitda number for MacNelly McNally?
Riddhi shah
If you see we had the revenue from the equipment business that is McNally. 213 crores is the number of years. For the full year for MacMilly.
Mukul
And the expected growth here would be 15% CAGR for about 24 years. Right.
Riddhi shah
Sir, I couldn’t get the last properly. Can you please repeat?
Mukul
So I said, I mean growth here would be about 15 years.
Riddhi shah
Yes, but at the group level we are seeing as a decent growth rate sir. So it will come both from the consumable and equipment business together. The share of MacNelly will definitely grow in the near future and as we go forward. And that is how we see massively contributing to the group revenues of about 20 to 25% having share in the group revenue in the near future.
Mukul
Okay sir. Thank you so much.
operator
Thank you. Ladies and gentlemen. Due to interest of time that was the last question for the day. And I would now like to hand the conference over to the management for closing comments.
Bhavya Shah
Thank you everyone. Thanks once again for taking out your time and coming to our investor call. We will keep you posted of any subsequent development. Happy to interact and take any subsequent questions etc. You have. You can reach us at our investor department and we will be happy to answer all of that. Thank you once again.
operator
On behalf of Tega Industries Ltd. That concludes this conference. Thank you for joining us and you may now disconnect your lines.