Overview

Detailed Summary

Tembo Global Industries Limited is an integrated engineering and manufacturing company producing specialised metal products—pipe support systems, fasteners, anchors, HVAC and precision fabrication—while operating EPC contracts, a textiles legacy business, a newly-commissioned large Vasai manufacturing facility, solar SPVs and an emerging defence manufacturing vertical under Tembo Defence Products.
Financially, Tembo delivered strong top-line momentum: consolidated revenue of INR 744.2 crore in 9M FY26 (up 58.6% YoY), EBITDA of INR 103.5 crore (up 64.7% YoY) and PAT of INR 68.2 crore (up 74.2% YoY), reflecting volume-led operational leverage in engineering and textiles while gross and PAT margins have modestly compressed sequentially due to project mix and higher depreciation.
Operationally transformational capacity expansion is a dominant theme: the Vasai plant was commissioned in January 2026 scaling installed capacity to ~100,000 MTPA from 18,000, backed by an INR 75 crore capex, in-house R&D and a stated peak revenue potential of ~INR 700 crore annually, positioning Tembo to move into ERW pipes and strut channels with improved unit economics.
Tembo is diversifying into strategic, capital-intensive verticals with visible project-level progress: a 120 MW solar PPA with Maharashtra, land acquired and financing sanctioned for its solar SPVs (capex INR 640 crore), and defence manufacturing where land allotment, arms license and technology transfer arrangements are in progress — each vertical backed by specific funding or partner commitments.
Order visibility underpins the near-term outlook: consolidated order book of ~INR 1,484 crore (Dec 2025) concentrated in engineering and EPC, a bidding pipeline of INR 2,185 crore including L1 positions, and management guidance targeting FY27 revenue growth of ~35–40% and a medium-term mix shift toward engineering and defence contributions.

Sector: Industrial Products
Industry: Iron & Steel Products
Market Cap: 1,107 Cr
Volatility: High Risk
P/E Ratio: 12.1
Industry P/E: 36.4
PEG Ratio: 0.1
P/B Ratio: 2.5
52W High: 837.00
52W Low: 433.35

Sales CAGR

1Y: 69.58%
3Y: 55.78%
5Y: 52.77%
10Y: 34.51%

Profit CAGR

1Y: 258.69%
3Y: 127.84%
5Y: 75.46%
10Y: 54.44%

ROE

TTM: 20.19%
3Y: 19.63%
5Y: 18.73%
10Y: 17.99%

ROCE

TTM: 17.50%
3Y: 29.02%
5Y: 26.51%
10Y: 25.87%

Technicals

Oscillators

BearishNeutralBullish

Neutral

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Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

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Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bullish

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Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Forecasts

Peers

Industrials Capital Goods Industrial Products Iron & Steel Products

Symbol	Watchlist	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
RATNAVEER		168.80	1,146 Cr	23.26	1.71	0.00	9.61	9.61	—
AEROENTER		100.82	1,139 Cr	17.73	1.38	0.00	7.77	13.16	7.38
TEMBO		597.05	1,107 Cr	12.12	2.45	0.00	20.19	17.50	7.52
MANAKCOAT		104.20	1,106 Cr	27.18	3.17	0.05	11.66	17.78	5.39
RSL		130.50	1,091 Cr	21.89	3.00	0.38	13.71	20.00	8.30
GANDHITUBE		850.75	1,034 Cr	15.12	3.27	1.76	21.64	28.82	20.10
COSMICCRF		1055.00	978 Cr	19.33	2.48	0.00	11.33	12.78	6.17
Median: 7 Co.	—	168.80	1,106 Cr	19.33	2.48	0.00	11.66	17.50	7.45

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales	115	122	128	164	165	274	248	245	251	346
Expenses	110	120	120	149	137	245	220	212	207	307
Operating Profit	5.13	1.40	8.35	15	27	29	28	33	43	39
OPM %	4.45	1.15	6.50	8.96	16.58	10.53	11.35	13.51	17.24	11.28
Other Income	2.99	4.70	1.37	9.63	4.41	0.75	3.25	4.48	1.04	9.88
Interest	1.49	1.98	1.84	4.20	5.67	5.13	4.74	6.91	5.90	8.54
Depreciation	0.68	0.70	0.59	0.60	0.71	0.41	0.84	0.90	2.97	1.91
Profit Before Tax	5.95	3.42	7.29	20	23	23	25	30	35	38
Tax %	25.38	22.81	25.79	25.23	27.51	36.70	23.24	26.48	26.14	21.79
Net Profit	4.45	2.64	5.42	15	16	15	19	22	26	30
EPS in Rs	1.98	1.13	2.39	6.47	7.24	7.37	12.81	11.24	15.13	16.87

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	79	105	176	250	439	744	850
Expenses	73	97	168	236	413	652	751
Operating Profit	5.67	7.53	8.21	13	25	92	99
OPM %	7.21	7.21	4.66	5.37	5.80	12.38	11.64
Other Income	0.16	0.16	1.98	0.44	1.34	-0.46	18
Interest	1.60	2.40	3.56	3.38	5.18	17	20
Depreciation	0.94	1.95	2.33	2.59	2.72	2.32	2.56
Profit Before Tax	3.29	3.34	4.30	7.88	19	72	90
Tax %	27.45	29.77	26.58	26.48	24.81	29.65	28.21
Net Profit	2.39	2.35	3.15	5.79	14	51	65
EPS in Rs	—	0.92	1.45	3.03	6.44	23.48	56.05
Dividend Payout %	31.51	42.74	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	5.02	10	10	11	11	15
Reserves	16	13	15	29	55	196
Borrowings	14	29	41	41	50	258
Other Liabilities	16	29	26	29	47	104
Total Liabilities	51	81	92	110	163	574
Fixed Assets	6.73	18	20	22	22	26
CWIP	0.59	0.09	0.28	3.21	8.06	84
Investments	0.00	0.00	0.75	0.77	1.14	1.68
Other Assets	43	62	70	84	131	462
Total Assets	51	81	92	110	163	574

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-0.47	-3.55	3.53	1.79	17	-77
Cash from Investing Activity	-2.95	-12	-5.13	-7.34	-32	-207
Cash from Financing Activity	4.37	16	1.59	5.89	15	287
Net Cash Flow	0.95	0.36	-0.02	0.35	-0.08	1.99

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Jan 2025	Mar 2025	Jun 2025	Sep 2025	Nov 2025	Dec 2025	Mar 2026
Promoters	55.43%	55.41%	55.41%	55.41%	55.41%	41.34%	43.62%	41.41%	43.62%	37.43%	36.97%	36.38%
FIIs	1.63%	1.64%	1.63%	0.68%	0.09%	0.02%	0.08%	0.05%	0.31%	8.09%	8.00%	8.58%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.22%	0.24%	1.25%	1.24%	0.95%
Public	42.94%	42.95%	42.95%	43.91%	44.51%	58.64%	56.30%	58.32%	55.83%	53.23%	53.80%	54.09%
Total Shareholders	4,603	6,028	6,508	10,385	16,912	18,954	19,286	17,965	17,870	16,392	16,399	17,469

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Projection

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q4 FY26

Investor Presentation

Q3 FY26

Investor Presentation

Q2 FY26

Available on Pro Plan