Synopsis:
Tembo Global Industries’ shares gained sharply after the company bagged an EPC contract worth USD 12.44 million for Aviation Turbine Fuel storage tanks at Bandaranaike International Airport, Sri Lanka. The project, covering design, procurement, construction, and commissioning, marks a milestone in the company’s global expansion strategy.
An industrial manufacturing stock advanced in Tuesday’s trade after securing a major international EPC contract in Sri Lanka. The win underscores the company’s growing capabilities in executing complex overseas infrastructure projects and is expected to significantly boost its revenue visibility in the coming quarters.
Tembo Global Industries Ltd, with a market capitalization of Rs. 894 crore, opened at Rs. 582.10 against the previous close of Rs. 584.65. The stock touched an intraday high of Rs. 613.85, marking a gain of 5 percent and hitting its upper circuit.
What’s the News?
The company announced that it has secured an Engineering, Procurement, and Construction (EPC) contract for the construction of Aviation Turbine Fuel (ATF) storage tanks at Bandaranaike International Airport, Colombo, Sri Lanka. The scope of work includes design, engineering, procurement, construction, and commissioning of ATF storage tanks along with associated piping, electrical, and instrumentation systems.
The total value of the work quoted is USD 12.44 million, and the company stated that this project marks a significant achievement in the international EPC market and is expected to contribute positively to revenue growth.
Financial Snapshot
On a quarter-on-quarter basis, sales declined from Rs. 274 crore to Rs. 248 crore, reflecting a fall of 9.49 percent. Profit before tax increased from Rs. 24 crore to Rs. 26 crore, up 8.33 percent. Net profit rose from Rs. 15 crore to Rs. 19 crore, registering a growth of 26.67 percent.
Year-on-year, sales grew from Rs. 128 crore to Rs. 248 crore, a rise of 93.75 percent. Profit before tax surged from Rs. 7 crore to Rs. 26 crore, higher by 271.43 percent. Net profit jumped from Rs. 5 crore to Rs. 19 crore, recording a growth of 280 percent.
About the Company
Tembo Global Industries is a leading industrial metal products manufacturer with a strong presence in the fabrication of high-performance components used in pipe support systems, fasteners, anchors, HVAC systems, anti-vibration systems, and equipment for industrial, commercial, utility, and OEM installations.
Written by – Manan
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