TAMBOLI CAPITAL LTD. Q4 FY25 Results

We are seeing tangible progress in customer projects, with several advancing to the pre-commercial supply stage and others reaching commercial supply. Despite these operational advancements, this positive momentum has not yet fully translated into financial results, and we expect this to materialize in the coming periods. In the European markets, the situation remains largely unchanged. We have not observed any significant improvement in demand from our customers in the region. European clients remain cautious, awaiting further clarity on the evolving landscape of policy changes and tariff measures implemented by the United States. We anticipate that the conclusion of the current 90-day tariff moratorium and the announcement of few initial trade deals will provide much-needed visibility and may stimulate some demand. The MENA region continues to present promising opportunities, as stakeholders accelerate their carbon reduction initiatives and invest in environmentally friendly energy generation plants. These developments have led to a healthy uptick in our pumps and valves components vertical, which is characterized by stable & sticky demand and decent business visibility for the foreseeable future. Within the automotive segment, we are pleased to report that last quarter we have recommenced supplies to a major global player in India for their ongoing projects. This marks a positive step forward in re-establishing our presence and strengthening our relationships in this market. Initial progress is also evident in the locomotive and railway sector. We have established ourselves as a key supply chain partner to a large OEM globally, with a robust portfolio of approved components. Tier-1 supplies have also commenced for the Amrit Bharat Express train project for Indian Railways, with certain components in the prototype stage and others already in bulk supply. While the transition from prototyping to commercial-scale supplies has been slower than anticipated, most customer approvals are in place, and we await further scale-up on the customer’s end. We remain optimistic about our prospects in this sector as these projects mature. Recently, we have also received the approval from the Regional Director for the North Western Region of the Ministry of Corporate Affairs (MCA) for the scheme of amalgamation of our step-down subsidiaries with wholly-owned subsidiary Tamboli Castings Limited as announced on BSE on March 24, 2025. The company is steadfastly enhancing its organisational capabilities by investing in state-of-the-art infrastructure, embracing Industry 4.0 technologies, and expanding its advanced 3D prototyping capabilities. At the same time, we are deeply integrating sustainability and ESG principles into our operations, ensuring that our Company is both responsible and future-ready. Looking ahead, we remain cautiously optimistic about an improving demand scenario, subject to some macroeconomic events playing out. Our focus remains on broad-basing our prospects across multiple sectors & geographies, so that we are in a good position to make the most of any notable changes in demand trends.