The Executive Director of Tembo Global Industries Limited in the 13th Annual General Meeting welcomes the Shareholders and invitees. He addresses the Shareholders and prospective investors invited in the Annual meeting some of the company achievements in 2022-23 and prospective growth in the future.
#1 Turnover Growth:
- The company has report an average of 43% quarter-on-quarter increase in turnover. Annual turnover for 2021-22 was 173 cr and in 2022-23 we have closed at 250 cr, and for the current year i.e 2023-24 after just 2 quarters The company has crossed 189 cr, surpassing own targets set and exceeding industry benchmarks.
- The positive momentum of company turnover growth has translated into an equally impressive 28% increase in net profits compared to the previous year and in the current year 2023-24 the company has managed to achieve an average of 150% increase in profits compared to 2022-23 quarter 1 and quarter 2.
- The company is now expanding our global footprint through strategic acquisitions and partnerships, with new office setups in Maldives, Houston [USA], Saudi Arabia, Sri Lanka and Egypt.
- The company has taken a forward engineering approach and started taking EPC i.e engineering procurement and commissioning projects internationally and in India which has opened up new horizons and has fuelled our exponential growth.
Disclosure orders in hand
book)- Client name
|Order in hand/ pipeline
|Fuel Farm system installation testing & commissioning
|Rs 30.00 Cr.
|Material supply order
|Rs 2.50 Cr.
|Order-in- pipeline (L1)
|Rs 30.00 Cr.
|Yet to be awarded
|Water supply pipeline installation, testing & commissioning
|Rs 10.00 Cr.
Welcome hotels, Colombo
Electrical Package installation testing & commissioning
|Rs 10.00 Cr.
To meet the demands the company has expanded its factory footprint by a staggering 13,000 square meters along with an investment of 15 to 20 crores in new automatic machinery, which will not only boost efficiency but also unlock new possibilities for innovation. With this, the production capacity will be increased by a remarkable 400%
The company is setting up offices across India, in new markets, and forging stronger connections with the customers nationwide.
The company is venturing into exciting new product lines, each as a testament for the commitment of diversification and market leadership. To capture the sizeable market share company has customised its product like DFMA, seismic pipe support systems, acoustics, and fasteners as detailed below: –
– to capture a sizeable share of the booming market with customized DFMA solutions, targeting sectors like automotive, electronics, building and infra.
– As Seismic Pipe Support Systems, valued at approximately $2.3 billion globally, this niche market offers immense potential as infrastructure development continues to accelerate. The company has designed seismic support systems to protect vital pipelines from earthquakes and other natural disasters, and is already attracting major clients in the energy and construction sectors.
– As Acoustics has a global market size exceeding $25 billion, the acoustics segment presents a golden opportunity. The company is entering this space with innovative soundproofing solutions and noise control technologies, catering to both residential and commercial needs. This move leverages the company expertise in material science and engineering, promising substantial returns.
– As Fasteners has, though seemingly modest, the global fastener market boasts a staggering $85 billion valuation. The company is strategically entering this high-volume, high-growth segment with specialized fasteners catering to specific industries like aerospace and marine and with the commitment to quality and precision the company will definitely outstand from the competition, ensuring a strong foothold in this lucrative market.
The Director concluded with the note of thanks and ensured the shareholder about the company growth with the company strategy of each new product addition in the product line; the company will unlock new revenue streams, attract diverse talent, and solidify the position as a leader in the manufacturing landscape.
The above information is for dissemination to the existing investor and prospective investor.
It would be great if you could incorporate the same in your esteemed publication.