Mumbai (Maharashtra) [India], February 27: Tembo Global Industries Ltd., an industrial powerhouse, specializing in manufacturing and fabricating metal products crucial for Pipe Support Systems, Fasteners, HVAC, and more, serving industrial, commercial, and OEM sectors, has reported impressive financial results for the third quarter of the fiscal year 2024. The company’s strong performance was driven by significant growth and solid performance its divisions.
Tembo Global Industries Ltd. recorded a substantial increase in total revenue for Q3 FY24, reaching Rs. 118.35 crore compared to Rs. 56.54 crore in Q3 FY23. Similarly, the PAT for Q3 FY24 surged to Rs. 4.44 crore from Rs. 1.99 crore in Q3 FY23. This significant growth highlights the company’s strong performance and ability to capitalize on market opportunities.
Commenting on the performance, Mr. Sanjay Patel, Managing Director, Tembo Global Industries Limited stated, “We are pleased with the strong growth achieved in both our textiles and engineering divisions. Our focus on operational excellence and customer satisfaction has enabled us to deliver these impressive results despite challenging market conditions. We remain committed to driving growth and creating value for our stakeholders.”
The above results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meeting held on 13th February, 2024.
The financial result of the Company has been prepared in accordance with India Accounting Standards (Ind AS) as notified by the Ministry of Corporate Affairs pursuant to Section 133 of the Companies Act 2013 read with the Rule 3 of the Companies (Indian Accounting Standards) Rule, 2015 as Amended and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 and SEBI Circular dated July 05, 2016. The Company has for the first time adopted Ind AS for the financial year commencing from April 01, 2021 with a transition date April 01, 2020. The Company operates in two business segments viz, Manufacturing of Engineering Products and Trading of Fabric and Textile Products as per Ind AS 108
The figures for the current quarter ended 31st December 2023 are the balancing figures between year figures for year to date 31st December 2023 and unaudited results published for the six months ended 30th Sept 2023. Figures of the previous period have been regrouped, whenever necessary, to correspond with the current period.
About Tembo Global Industries Ltd.
Tembo Global Industries Ltd. stands as an industrial powerhouse, specializing in manufacturing and fabricating metal products crucial for Pipe Support Systems, Fasteners, HVAC, and more, serving industrial, commercial, and OEM sectors. With expertise in ductile pipes, HDB pipes, and MS plates fabrication and installation, our seasoned team caters to diverse customer needs, offering tailored solutions at competitive prices without compromising quality. Serving a wide array of industries including Oil & Gas, Steel, and Mining, Tembo Global Industries Ltd., founded in 2010 and listed on the national stock exchange in 2018. Originally renowned as international suppliers, they have successfully ventured into the domestic market, further cementing their reputation as a versatile and innovative industry leader.
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