Tembo Global Industries Ltd

- No new fundraising through preferential allotment or equity is planned for the Solar project; it is being completed with existing funds. - For working capital requirements, the company primarily relies on bank financing and internal accruals; preferential equity issuance is only considered for high-value CAPEX. - Promoters hold their shares and have not diluted equity; any new shares issued reduce promoter shareholding but promoters have not sold shares. - Defence project has in-principle bank commitments for Rs. 1000 crore CAPEX. - Solar project financing amounting to Rs. 650 crore has been approved by banks. - No immediate plans for fresh equity or preferential allotment announced for 2026-27. - Future CAPEX after current projects may require new fundraising, but no details yet.

- Current ongoing CAPEX includes: - Defence segment: Rs. 1000 crore CAPEX, with banker commitments and manufacturing license obtained; commercial production expected from Q3 FY27 (Sept-Oct 2026). - Solar segment: Rs. 650 crore CAPEX approved by institutions with loans passed; project of setting up capital outlay plant with PPA agreement, generating Rs. 75-90 crore revenue annually over 25 years with Rs. 110 crore government subsidy. - New manufacturing facility (Vasai plant): Capacity scaling to 100,000 metric tons phased over 2-3 years; initial revenue expected Rs. 125-150 crore in FY27, full capacity utilization (90-100%) within 2-3 years. - No further CAPEX planned in next 2-3 years beyond ongoing projects; future CAPEX to be evaluated post current stage completion. - Equity raising (preferential allotment/warrants) only if new high-value CAPEX arises; working capital mostly funded through banker loans and internal accruals. - Focus remains on strategic expansion in Defence, Solar, and Engineering segments.

- For FY27, the company targets a revenue growth of approximately 35% to 40% over the current level. - The Vasai plant's revenue is expected to be Rs. 125 to Rs. 150 crore in FY27, reaching full capacity potential of Rs. 300 crore over 2-3 years. - Defence segment commercial production is expected to commence by Q3 FY27, targeting robust revenue potential (exact numbers not specified). - Solar division projects are projected to generate Rs. 75 to Rs. 90 crore annually from FY27 onwards, with a government subsidy of Rs. 110 crore. - Order book of around Rs. 1,484 crore provides strong revenue visibility over the next 12 to 24 months. - The company anticipates adding Rs. 700 to Rs. 1,000 crore in new orders from marquee clients in upcoming quarters. - The new manufacturing facility will scale installed capacity to approximately 100,000 metric tons phased over 2-3 years.

- As of December 2025, Tembo Global Industries has a consolidated order book of approximately Rs. 1,484 crores, mainly from Engineering products and EPC-led projects. - The order book provides strong revenue visibility for the coming quarters. - The company is in active discussions with a major corporate group for potential projects related to Port construction and Fuel Farm systems, spanning Civil, MEP, and HVAC packages, with a potential project value exceeding Rs. 700 crores. - Execution timeline of the existing order book is expected to span 12 to 24 months. - The company plans to add Rs. 700 to Rs. 1,000 crores in orders from marquee clients in Marine, Offshore, Onshore, Water, and related infrastructure sectors, currently in advanced negotiation stages.

- Tembo Global Industries targets a growth of approximately 35% to 40% in FY27 from the current level. - Projected PAT margins are expected to be around 10% to 12% for FY27. - The new Vasai manufacturing plant is expected to ramp up to about 90% to 100% capacity utilization within 2-3 years, contributing positively to earnings. - The Defence vertical is anticipated to start commercial production by Q3 FY27, potentially adding significant revenue. - Solar division is expected to generate annual revenue of Rs. 75 to Rs. 90 crore starting FY27, bolstered by a Rs. 110 crore government subsidy. - Order book of around Rs. 1,484 crore with 12 to 24 months execution timeline supports steady revenue growth. - Margins in new Precision Engineering products and the Vasai plant are forecasted at 30% to 35% EBITDA levels, likely improving operating profitability.