💰 Financial Performance

Revenue Growth by Segment

Manufacturing is the core segment contributing 94% of total income. Total income for FY25 was ₹70.3 crore, reflecting an 8% year-on-year decline from ₹76.3 crore in FY24, primarily due to an economic slowdown in Europe.

Geographic Revenue Split

Europe is the principal export market, currently experiencing a slowdown. The company is actively expanding its domestic presence in India to counter export challenges, though specific regional percentage splits are not disclosed.

Profitability Margins

EBITDA margins improved from 20% in FY24 to 23% in FY25. PAT margins increased from 10% in FY24 to 11% in FY25. Net Profit Ratio was reported at 53.87% for FY25 compared to 50.96% in FY24.

EBITDA Margin

EBITDA margin stood at 23% in FY25, a 300 bps improvement YoY. Absolute EBITDA grew 5% to ₹15.9 crore from ₹15.2 crore in FY24, driven by operational excellence despite lower revenue.

Capital Expenditure

Cash used in investing activities was ₹7.0 crore in FY24, up from ₹5.1 crore in FY23. This included the commissioning of a 1 MW solar power plant for captive consumption.

Credit Rating & Borrowing

The company is virtually debt-free with a debt-to-equity ratio of 0.0. Interest costs were minimal at ₹0.2 crore in FY24, though they rose 158% YoY in 9MFY25 to ₹0.41 crore.

⚙️ Operational Drivers

Raw Materials

Metals and alloys used for investment casting (Feinguss) and machining. Specific material names and cost percentages are not disclosed in available documents.

Capacity Expansion

Current production capacity is 600 TPA. The company is focusing on robotic automation and 3D prototyping to enhance manufacturing capabilities.

Raw Material Costs

Total operating expenses were ₹60.9 crore in FY24. Specific raw material cost as a percentage of revenue is not disclosed.

Manufacturing Efficiency

Capacity utilization metrics are not disclosed, but the company utilizes robotic automation and IoT-enabled sensors for waste reduction and smart energy management.

📈 Strategic Growth

Expected Growth Rate

Not disclosed

Growth Strategy

Growth will be driven by entry into the Railways and Locomotive sector (Amrit Bharat Express project), expansion in the Aerospace sector (ISRO partnership), and the amalgamation of step-down subsidiaries (Tamboli Profiles and Tamboli Metaltech) to optimize costs and operational synergies.

Products & Services

Fully machined precision investment casting components (Feinguss) ranging from 10 grams to 80 kilograms for Pneumatic & Automation, Pumps, Valves, Turbo Parts, General Engineering, Automobile, and Aerospace.

Brand Portfolio

Tamboli Castings, Tamboli Industries.

New Products/Services

Tier-1 supplies for the Amrit Bharat Express train project for Indian Railways; aerospace components showcased at IAC 2024 in Milan.

Market Expansion

Targeting the Indian domestic market to offset European slowdown; strengthening presence in the global aerospace and locomotive supply chains.

Strategic Alliances

Invited by ISRO as one of 12 Indian companies to participate in the International Astronautical Congress (IAC) 2024.

🌍 External Factors

Industry Trends

The investment casting industry is evolving toward higher precision and sustainable manufacturing. Tamboli is positioning itself via green energy (solar) and high-tech applications in Aerospace and Railways.

Competitive Landscape

Competes in the global investment casting and machining sector; sole representative from its sector at IAC 2024.

Competitive Moat

Durable advantages include 'Star Export House' status, specialized Feinguss technology, and being the sole representative from the casting sector invited by ISRO for IAC 2024, indicating high technical barriers to entry.

Macro Economic Sensitivity

High sensitivity to European industrial production and global economic activity; revenue declined 8% in FY25 due to European slowdown.

Consumer Behavior

Shift toward sustainable and eco-conscious manufacturing processes among global elite clients.

Geopolitical Risks

Macroeconomic headwinds from geopolitical tensions and uncertainties arising from recent U.S. tariff policies.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015; subject to international manufacturing standards for aerospace and automotive components.

Environmental Compliance

Commissioned 1 MW solar plant; recipient of the CII National Best Practices Award for sustainability efforts.

⚠️ Risk Analysis

Key Uncertainties

Sluggish industrial production in Europe and U.S. tariff policy changes pose risks to the 94% manufacturing revenue base.

Geographic Concentration Risk

High concentration in Europe; domestic market expansion is the primary mitigation strategy.

Third Party Dependencies

Dependency on a few select large MNC conglomerates for a diversified revenue base.

Technology Obsolescence Risk

Mitigated by investments in robotic automation and 3D prototyping.

Credit & Counterparty Risk

Trade receivables stood at ₹18.42 crore in FY24, up from ₹10.5 crore in FY23, indicating increased credit exposure.