Consolidated Financial Performance

Q4 FY26 Performance:

  • Revenue from Operations: INR 346.0 crores, up 26.3% YoY (Q4FY25: INR 274.0 crores)
  • EBITDA: INR 39.0 crores, up 35.2% YoY (Q4FY25: INR 28.8 crores)
  • EBITDA margin: 11.3%, expanded by 75 bps YoY
  • PAT: INR 30.1 crores, up 93.3% YoY (Q4FY25: INR 15.6 crores)
  • PAT margin: 8.7%, expanded by 302 bps YoY
  • EPS: INR 16.87, up 90.8% YoY

Sequential Performance (QoQ):

  • Revenue growth of 38.0% from Q3FY26 (INR 250.7 crores)
  • EBITDA declined 9.7% from Q3FY26 (INR 43.2 crores)
  • EBITDA margin decreased 596 bps from 17.2% in Q3FY26
  • PAT increased 15.1% from Q3FY26 (INR 26.1 crores)
  • PAT margin decreased 173 bps from 10.4% in Q3FY26
  • EPS increased 9.7% from INR 15.38 in Q3FY26

Full Year FY26 Performance:

  • Revenue from Operations: INR 1,090.2 crores, up 46.7% YoY (FY25: INR 743.2 crores)
  • EBITDA: INR 142.5 crores, up 55.4% YoY (FY25: INR 91.7 crores)
  • EBITDA margin: 13.1%, expanded by 74 bps YoY
  • PAT: INR 98.2 crores, up 79.7% YoY (FY25: INR 54.7 crores)
  • PAT margin: 9.0%, expanded by 166 bps YoY
  • EPS: INR 51.23, up 64.6% YoY

Business Segment Performance

Engineering Solutions Segment:

  • Remained the primary growth driver for the company
  • Significant scaling driven by strong demand from infrastructure-linked sectors including oil & gas, marine, water, and EPC

EPC Business:

  • Qualified as L1 bidder for prestigious offshore revamp project in Kuwait with estimated value of ~INR 300 crore
  • Project involves complex engineering systems including fire protection, marine equipment, and integrated infrastructure
  • Current order book: ~INR 1,548 crore
  • Strong order bidding pipeline: over INR 2,256 crores
  • Actively pursuing INR 700+ crore opportunities in port construction and fuel farm systems
  • Strengthening EPC pipeline across civil, MEP, and HVAC segments

Solar Projects:

  • All sites expected to be fully operational by end of Q2 FY27
  • Commercial operations slated to commence from Q3 FY27
  • Expected to contribute meaningfully to diversified revenue streams

Defence Manufacturing:

  • Subsidiary secured Defence Manufacturing Licence from Government of Maharashtra to establish small arms facility
  • Follows WEF 2025 MoU with MIDC
  • Government of India licence obtained for ammunition manufacturing
  • Entered into NDA with leading defence PSU to explore opportunities in indigenous design, development, and production
  • Positioning to participate in India's defence indigenisation journey under Make in India and Atmanirbhar Bharat initiatives

Financial Position & Ratios

Balance Sheet Strength:

  • Debt-to-equity ratio: 0.77:1 as of March 31, 2026
  • Return on Capital Employed (ROCE): 18.4% as of March 31, 2026
  • Return on Equity (ROE): 20.0% as of March 31, 2026

Management Commentary & Outlook

Management Statement by Mr. Sanjay J. Patel, Managing Director:

  • FY26 described as transformational year marked by strong financial performance, execution excellence, and decisive progress across strategic growth pillars
  • Growth attributed to improved scale, operating leverage, and disciplined execution
  • Strong pipeline, improved global participation, and clear visibility towards growth targets

FY27 Guidance:

  • Expected revenue: approximately INR 1,600 crore
  • Growth primarily driven by engineering business
  • Focus on executing strong order book, ramping up capacity utilization, and scaling presence across engineering, EPC, defence, and renewable energy businesses

Company Background

Tembo Global Industries Limited is an engineering-driven industrial solutions provider for sectors including oil & gas, chemicals, construction, power, shipbuilding, nuclear, HVAC, and OEM installations. The company specializes in production and assembly of metal components for Pipe Support Systems, Fasteners, Anchors, HVAC, Anti-Vibration Systems, and Equipment. Products are certified and approved by Underwriter's Laboratory Inc. (USA) and FM Approval (USA) for Fire Sprinkler System Installations. The company holds 2 Star Export House distinction and has diversified into EPC contracting, textile trading, defence manufacturing, and solar power.