NSE: TAMBOLIIN · BSE: 533170
TAMBOLI INDUSTRIES LTD.
Manufactures precision investment-cast components through its wholly-owned subsidiary Tamboli Castings Limited, which runs a 600 tonne precision casting facility in Bhavnagar on a 10-acre campus that is ISO 45001-certified and houses an ISRO-approved mechanical test lab. The casting business serves five industrial verticals — pneumatics and automation, pumps and valves, general engineering, automotive, and aerospace — and supplies Fortune 500 and Forbes 1,000 clients across 27 or more countries. Exports drive the geographic mix, with Europe accounting for about 50% of revenue, India about 25%, and the United States about 20%. For FY26, consolidated revenue stood at Rs 80.43 crore with profit after tax of Rs 9.81 crore; the manufacturing segment contributed Rs 78.92 crore, investment activities Rs 0.67 crore, and trading activities were nil. The largest cost buckets are other operating expenses at 33.7% of revenue and raw materials at 27.1%, followed by employee costs at 17.4% and depreciation at 5.4%, with FY26 capex of Rs 15.01 crore (18.7% of revenue). AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Manufacturing activities, Investment activities, Trading activities. Export-heavy, asset-intensive precision investment casting run through a wholly-owned subsidiary under a holding company
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 80 | 83 | 75 | 69 | 80 |
| EBITDA (ex other income) | 22 | 18 | 14 | 14 | 16 |
| margin % | 27.2 | 21.6 | 18.7 | 21.0 | 19.3 |
| Owners' profit | 13 | 0 | 0 | 0 | 0 |
| EPS, as reported (₹) | 13.11 | 10.64 | 7.59 | 7.78 | 9.88 |
| ROE % · ROCE % | 13.9 · 17.9 | 10.2 · 15.4 | 6.8 · 9.6 | 6.8 · 9.5 | 8.0 · 11.1 |
| Debt / equity (x) | 0.15 | 0.01 | 0.03 | 0.06 | 0.02 |
| Cash from operations | 24 | 21 | 5 | 3 | 17 |
| Capex | (3) | (6) | (8) | (4) | (15) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 14 | 17 | 18 | 20 | 17 | 19 | 22 | 23 |
| Profit before tax | 2 | 2 | 3 | 3 | 2 | 3 | 3 | 6 |
| Net profit | 1 | 2 | 2 | 3 | 1 | 2 | 2 | 4 |
| EPS (₹) | 1.41 | 1.58 | 2.26 | 2.53 | 1.28 | 1.95 | 2.52 | 4.13 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Investement activities | 1 | 0.8 |
| Manufacturing activities | 79 | 95.6 |
| Investment activities | 3 | 3.6 |
| Total, before eliminations | 83 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BAJAJ FINSERV LTD. | 2,64,611 | 26.0 | 1.88 | — | 14.0 | — | 20.0 | 40.8 |
| BAJAJ HOLDINGS & INVS LTD | 1,16,414 | 13.1 | 1.41 | — | 11.9 | — | 21.8 | 92.9 |
| CHOICE INTERNATIONAL LTD | 16,267 | 62.9 | 8.92 | 39.9 | 13.0 | 13.9 | 46.0 | 36.8 |
| EDELWEISS FIN SERV LTD | 11,971 | 16.8 | 2.01 | — | 11.4 | — | 2.2 | 29.3 |
| JM FINANCIAL LIMITED | 10,849 | 10.4 | 0.96 | — | 10.6 | — | 5.1 | 60.3 |
| RANE HOLDINGS LIMITED | 2,078 | 24.6 | 1.46 | 6.0 | 9.6 | 11.7 | 23.7 | 7.5 |
| BF INVESTMENT LIMITED | 1,486 | 3.8 | 0.17 | — | 3.3 | — | 36.0 | 90.4 |
| BALMER LAWRIE INVSTS. L | 1,384 | 10.7 | 0.62 | — | 12.4 | — | 12.2 | 18.2 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 34.3 | 10.7 | 12 of 13 | 8% |
| P/B | 2.7 | 1.4 | 13 of 14 | 8% |
| ROCE | 10.7 | 11.2 | 5 of 8 | 43% |
| ROE | 8.0 | 10.1 | 9 of 14 | 39% |
| Debt / Equity | 0.0 | 0.5 | 2 of 7 | 83% |
| EBITDA margin | 30.0 | 29.6 | 7 of 14 | 54% |
| Revenue growth | 14.9 | 18.6 | 10 of 15 | 36% |
| Profit growth | 63.4 | 18.1 | 5 of 15 | 71% |
| Market cap | 336 | 1203 | 14 of 16 | 13% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Tamboli chairman addresses ICI's 73rd Technical Conference in the US | compliance | minimal | — | — |
| 21 Oct 2026 · Board meeting set for November 5, 2026 | results | low | — | — |
| 12 Oct 2026 · Subsidiary TCL wins long-term supply programme from Fortune 100 global OEM | business updates | high | — | — |
| 28 Sept 2026 · Trading window closed from Oct 1, 2026 till 48 hours after Q2 results | compliance | minimal | — | — |
| 2 Sept 2026 · Tamboli Industries 18th AGM transcript filed; Rs 1.20 dividend declared | investor communications | medium | — | — |
| 29 Aug 2026 · Tamboli Industries 18th AGM results: all 4 resolutions passed, dividend cleared | board shareholder meetings | low | — | — |
| 27 Aug 2026 · Tamboli Industries 18th AGM held on Aug 27, 2026 via video conferencing; four resolutions passed | board shareholder meetings | medium | — | — |
| 31 Jul 2026 · Tamboli Industries Q1 FY27 results: PAT jumps 64% YoY | results | high | — | — |
| 31 Jul 2026 · Tamboli Q1 FY27 PAT up 64% YoY to Rs 209 lacs | results | high | — | — |
| 27 Jul 2026 · Tamboli Industries 18th AGM on Aug 27, 2026; Record Date Aug 19 | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.