Tembo Global Industries Limited, a leading entity in the industrial sector renowned for its expertise in engineering mechanics, design load calculations, technical drawings, specifications, manufacturing, supply, and project execution across a variety of sectors including oil and gas, chemicals, construction, power, shipbuilding, nuclear power, HVAC, and anti-vibration systems, has reported impressive financial results for the quarter ending June 30, 2024.
The company’s operations span a broad range of industrial, commercial, utility, and OEM installations, and it is celebrated for its export-oriented operations, holding the esteemed Star Export House certification. In addition to its core activities, Tembo Global engages in the trading of metal products and textiles.
Despite a challenging economic environment, Tembo Global Industries has showcased significant growth, reflecting its resilience and strategic acumen. For the first quarter of the fiscal year 2024, the company reported a remarkable increase in revenue from operations, reaching Rs. 12,840.95 lakhs compared to Rs. 7,997.85 lakhs in the same period of the previous fiscal year. Total income from operations also saw a substantial rise, amounting to Rs. 12,973.01 lakhs, up from Rs. 7,998.19 lakhs in Q1 FY23.
The company’s financial performance was further highlighted by a substantial increase in profitability. Profit Before Tax surged to Rs. 724.91 lakhs, a significant rise from Rs. 222.90 lakhs reported in Q1 FY23. Similarly, Profit After Tax saw an impressive increase, reaching Rs. 537.33 lakhs, up from Rs. 167.92 lakhs in the corresponding quarter of the previous year. Earnings Per Share (Basic) also saw a notable improvement, rising to Rs. 4.82 for Q1 FY24 compared to Rs. 1.51 in Q1 FY23.
On a consolidated basis, Tembo Global Industries reported revenue from operations of Rs. 12,841.01 lakhs, marking an increase from Rs. 8,109.40 lakhs in Q1 FY23. Profit Before Tax on a consolidated basis also showed robust growth, reaching Rs. 729.14 lakhs, up from Rs. 250.52 lakhs in the previous fiscal year. Profit After Tax, on a consolidated basis, climbed to Rs. 541.56 lakhs, compared to Rs. 188.59 lakhs in Q1 FY23. Earnings Per Share (Basic) on a consolidated basis rose to Rs. 4.85, from Rs. 1.70 in the same period of the previous year.
Sanjay J Patel, Managing Director of Tembo Global Industries Limited, expressed satisfaction with the company’s performance, stating, “We are delighted to announce a strong performance for the first quarter of the fiscal year 2024. The significant growth in both revenue and profitability reflects the successful implementation of our strategic initiatives and operational efficiencies.
This remarkable increase is a testament to our team’s hard work and our solid market presence. We are committed to sustaining this positive momentum and enhancing value for our shareholders. As we look ahead, we are optimistic about maintaining our upward trajectory and exploring new opportunities for growth and expansion.”
Tembo Global Industries Limited is a leading industrial firm specializing in engineering mechanics, design load calculations, and project execution across diverse sectors such as oil and gas, chemicals, and power. Renowned for its export-focused operations and Star Export House certification, the company also trades in metal products and textiles, showcasing robust financial performance and strategic excellence.
