Sector Alpha Week of 2026-07-24
Sector Alpha — machine-written from the numbers · Data as of 2026-07-24

Tembo Global Industries Ltd

TEMBO
Trading

Tembo Global Industries Ltd's earnings have outrun its stock. EPS grew +49.5% in a year against a +7.3% price move.

The sharpest disagreement: profits are rising, but only −92% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.

The price is topping out (3 weeks in) while the P/E sits at the 2nd percentile of its own 6-year range. Underneath, the last four quarters read improving — profit +87.5% year on year, and −92% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.

Stage
Mixed
partial read
Price
₹547
+7.3% 1Y
P/E
10.8×
2nd pctile
of its own 6-year range
Revenue (Mar 26)
₹346 Cr
+26.3% YoY
Profit (Mar 26)
₹30.0 Cr
+87.5% YoY
Operating margin
11.0%
+1.0 pp YoY
ROCE
23%
FY26
ROIC
18.1%
vs WACC 12.0% → +6.1 pp
Cash conversion
−92%
of profit, last 3 FY
Unverified figures: Some figures on this page come from a second financial-data feed that could not be cross-checked against the primary source — the two do not share enough overlapping reported history to compare. They are drawn, because they are the only evidence there is, and every section carrying one is marked unverified. PEG is the exception: the quarterly curve is not drawn at all. PEG asks what is being paid for growth — both sides of that division come from the source that could not be checked, so it is withheld instead of marked.
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Tembo Global Industries Ltd trades at ₹547, losing momentum at the top and 3 weeks into that stage. That is −4.9% against its own 200-day average. It sits at 25% of a 52-week range of ₹467 to ₹781. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (6 weeks and counting).

Today the stock is losing momentum at the top — week 3 of stage 3, confirmed. At ₹547 it trades −4.9% versus its 200-day average and sits at 25% of its 52-week range (₹467–₹781).

Jul 26: ₹547 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
−4.9% versus the 200-day line, week 3 of stage 3
Price50-day avg200-day avg
S2S4S2S4S2S4₹913₹719₹524₹329₹135₹547₹575Jul 23Apr 24Jan 25Oct 25Jul 26
S2S4S2S4S2S4₹913₹719₹524₹329₹135₹547₹575Jul 23Jan 25Jul 26
Beating or trailing, week by week since 2018 Each cell is one week from 2018 to now (376 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Aug 18Jul 26

Against the market, two honest reads. Cumulative: over the last 7.9 years the stock moved +1,586% while the NIFTY 500 moved +137% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (6 weeks and counting; last ahead the week of 2026-06-19) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 2nd percentile of its own range.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Tembo Global Industries Ltd trades at 10.8× P/E, about the cheapest it has ever traded. Its long-run median P/E is 31.4×, measured across 6.0 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 10.8× is about the cheapest it has ever traded, against a long-run median of 31.4× measured over 6.0 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

One caveat before moving on: margins are the best this company has ever printed — cheap against its own history on record margins is not the same thing as cheap. If profitability mean-reverts, today's multiple is higher than it looks.

P/E 10.8× vs a 31.4× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 6.0-year window; loss-period spikes above 94× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
about the cheapest it has ever traded
P/EMedianEPS (TTM) (quarterly)
100.8×₹53.676.5×₹40.252.1×₹26.827.8×₹13.43.5×₹0.0×10.80×₹49Jul 20Feb 22Aug 23Feb 25Jul 26
100.8×₹53.676.5×₹40.252.1×₹26.827.8×₹13.43.5×₹0.0×10.80×₹49Jul 20Aug 23Jul 26
P/E
10.8×
2nd percentile of 6y

Why the multiple sits where it does: over the past year annual EPS moved +49.5% against a +7.3% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the +22.0%/yr price move, ~+88.0%/yr came from earnings growth and ~−66.0 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

03 · Stage: Mixed

Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Tembo Global Industries Ltd reads as mixed on its fundamental arc. Mixed — growth is normalizing off a hyper-growth base: revenue growth has eased from +100.0% at its peak to +26.3% (single-quarter readings) but is still expanding, ROCE holding at 23.0%. The read is built from 10 quarters across 3 curves, on partial evidence.

Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. Where the trailing-twelve-month history is short, the curve falls back to single-quarter year-on-year growth — noisier, and the classifier smooths and caps base-effect spikes before reading. Base-effect spikes shown pinned (▲). A missing point means that reading is not held for the quarter.
the trajectory the stage is read from
RevenueProfitEPS
132%322%104%243%75%163%47%84%18%4.8%%%26.3%87.5%26.7%Jun 23Sep 24Mar 26
132%322%104%243%75%163%47%84%18%4.8%%%26.3%87.5%26.7%Jun 23Sep 24Mar 26
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
32%28%25%21%17%%23%FY23FY24FY26
32%28%25%21%17%%23%FY23FY24FY26
Revenue growth
Rolling over
latest +26.3% · span +26.3% to +100.0%
Profit growth
Rolling over
latest +87.5% · span +36.8% to +100.0%
ROCE
Steady high
latest 23.0% · span 18.0%–31.0%

Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

Growth, year by year: revenue +46.5% in FY26, profit +92.2% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn.
Revenue YoYProfit YoYEPS YoY
79%285%66%209%54%132%41%56%28%−21%%%46.5%92.2%FY20FY23FY26
79%285%66%209%54%132%41%56%28%−21%%%46.5%92.2%FY20FY23FY26
TTM growth by quarter Trailing-twelve-month growth versus the year-ago TTM, per quarter, %: revenue (left axis); profit and EPS (right axis). The acceleration read compares the last 4 quarters (+48.5%) with the last 8 annualized (+58.8%). Spikes shown pinned (▲).
revenue rolling over, profit rolling over
Revenue TTM YoYProfit TTM YoYEPS TTM YoY
81%322%72%243%62%163%53%84%44%4.8%%%48.5%78.2%Jun 23Sep 24Mar 26
81%322%72%243%62%163%53%84%44%4.8%%%48.5%78.2%Jun 23Sep 24Mar 26
Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+46.5%+63.4%+60.0%
Profit+92.2%+153.7%+117.8%
EPS+49.5%+111.4%+93.4%
Share price+7.3%+32.7%+22.0%
Revenue YoY (Mar 26)
+26.3%
latest quarter vs a year ago
Profit YoY (Mar 26)
+87.5%
latest quarter vs a year ago
Revenue 10y
54.9%
long-run compound pace

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

04 · 4-Factor Sector Score

4-Factor Sector Score

52.7/100 — rank 14 of 48 in Trading · 70% evidence confidence

Tembo Global Industries Ltd scores 52.7 out of 100 against the 48 companies it is compared with in Trading, ranking 14. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 20 + 15.3 + 11.3 + 6.1 = 52.7. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

05 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Tembo Global Industries Ltd reported ₹346 Cr of revenue in the Mar 26 quarter, +26.3% year on year. That is the 10th straight quarter of year-on-year growth. Over 6 years it has compounded at 54.9% a year. The last full year, FY26, came in at ₹1,090 Cr. The last four reported quarters add to ₹1,090 Cr.

Tembo Global Industries Ltd reported ₹346 Cr of revenue in the Mar 26 quarter, +26.3% year on year. That is the 10th straight quarter of year-on-year growth. Over 6 years it has compounded at 54.9% a year. The last full year, FY26, came in at ₹1,090 Cr. The last four reported quarters add to ₹1,090 Cr.

FY26 revenue came in at ₹1,090 Cr (+46.5% on the year), capping 6 years at 54.9% compound. The latest quarter (Mar 26) printed ₹346 Cr, +26.3% year on year — the 10th consecutive quarter of year-over-year growth.

FY26 revenue ₹1,090 Cr (+46.5% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 7-year window. A bar is red when it is lower than the year before.
54.9% a year over 6 years
RevenueYoY growth
1.2k79%88366%58954%29441%028%₹ Cr%₹1,09046.5%FY20FY23FY26
1.2k79%88366%58954%29441%028%₹ Cr%₹1,09046.5%FY20FY23FY26
Mar 26: ₹346 Cr (+26.3% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
10th straight quarter of growth
Revenue (quarterly)YoY growth
374132%280104%18775%9347%018%₹ Cr%₹34626.3%Jun 23Sep 24Mar 26
374132%280104%18775%9347%018%₹ Cr%₹34626.3%Jun 23Sep 24Mar 26

Pace check: the last four quarters averaged +54.7% growth against the decade's 54.9% — the current year is running in line with its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +48.5% over the last 4 quarters against +58.8%/yr over the last 8 — rolling over; TTM profit +78.2% vs +164.6%/yr — rolling over.

→ Revenue grew — did margins hold as it scaled? Next: 11.0% this quarter (+1.0 pp YoY).

06 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Tembo Global Industries Ltd's operating margin is 11.0% in the Mar 26 quarter, +1.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 7 fiscal years the operating margin has ranged 5.0% to 13.0%. The current quarter sits inside that band.

Tembo Global Industries Ltd's operating margin is 11.0% in the Mar 26 quarter, +1.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 7 fiscal years the operating margin has ranged 5.0% to 13.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 11.0%, +1.0 pp against the same quarter a year ago. Across 7 fiscal years the operating margin has ranged 5.0%–13.0%, and FY26's 13.0% is the top of that band — a record year.

Why the margin moved: operating margin went +0.8 pp year on year while gross margin went +82.4 pp — the gain came mostly from the gross line: input costs and pricing.

Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.

FY26: 13.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 7-year window.
the widest a 5.0–13.0% band over 7 years
operating marginYoY change (pp)
14%6.6%11%4.3%9.0%2.0%6.7%−0.3%4.4%−2.6%%%13%1%FY20FY23FY26
14%6.6%11%4.3%9.0%2.0%6.7%−0.3%4.4%−2.6%%%13%1%FY20FY23FY26
Mar 26: 11.0% operating margin (+1.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
19%15%14%10%9.5%5.0%4.6%−0.2%−0.4%−5.4%%%11%1%Jun 23Sep 24Mar 26
19%15%14%10%9.5%5.0%4.6%−0.2%−0.4%−5.4%%%11%1%Jun 23Sep 24Mar 26

→ Margins held — did that reach the bottom line? Next: profit +87.5% in the latest quarter.

07 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Tembo Global Industries Ltd earned ₹30.0 Cr of net profit in the Mar 26 quarter, +87.5% year on year. It is the 10th consecutive quarter of growth. Full-year FY26 profit was ₹98.0 Cr. The 6-year compound rate is 91.3%. That is 8.7% of the quarter's revenue. The same quarter a year earlier earned ₹16.0 Cr.

Tembo Global Industries Ltd earned ₹30.0 Cr of net profit in the Mar 26 quarter, +87.5% year on year. It is the 10th consecutive quarter of growth. Full-year FY26 profit was ₹98.0 Cr. The 6-year compound rate is 91.3%. That is 8.7% of the quarter's revenue. The same quarter a year earlier earned ₹16.0 Cr.

Mar 26 profit was ₹30.0 Cr, +87.5% year on year — the 10th consecutive quarter of growth. On the full year, FY26 printed ₹98.0 Cr (+92.2%), and the 6-year compound rate is 91.3%.

FY26 profit ₹98.0 Cr (+92.2% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 7-year window. A bar is red when it is lower than the year before.
91.3% a year over 6 years
Net profitYoY growth
106285%79209%53132%2656%0−21%₹ Cr%₹9892.2%FY20FY23FY26
106285%79209%53132%2656%0−21%₹ Cr%₹9892.2%FY20FY23FY26
Mar 26: ₹30.0 Cr (+87.5% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
10th straight quarter of growth
Net profit (quarterly)YoY growth
32465%24350%16235%8120%05.1%₹ Cr%₹3087.5%Jun 23Sep 24Mar 26
32465%24350%16235%8120%05.1%₹ Cr%₹3087.5%Jun 23Sep 24Mar 26

Why profit moved: revenue contributed +26.3% and the margin +1.0 pp — the quarter was revenue-led, with the margin roughly flat.

Pace comparison, last four quarters: profit +117.8% vs revenue +54.7%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

→ Profit rose — but did the cash follow? Next: −92% of the last 3 years' profit arrived as cash.

08 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years −92% of Tembo Global Industries Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−90.0 Cr of operating cash against ₹98.0 Cr of profit. After ₹83.0 Cr of capital spending, ₹−173 Cr was left as free cash.

FY26: operating cash of ₹−90.0 Cr against reported profit of ₹98.0 Cr, leaving free cash of ₹−173 Cr after ₹83.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −92% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹−90.0 Cr vs profit ₹98.0 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 7-year window, annual resolution. FY21 reflects an acquisition year — point shown clipped.
−92% of 3-year profit arrived as cash
Operating cashNet profitFree cash
12041−38−116−195₹ Cr₹−90₹98₹−173FY20FY23FY26
12041−38−116−195₹ Cr₹−90₹98₹−173FY20FY23FY26
FY26: CFO = −92% of profit (three-year rate −92%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash.
Conversion100%
160%63%−34%−130%−227%%−92%FY20FY23FY26
160%63%−34%−130%−227%%−92%FY20FY23FY26

🚨 Why conversion sits at −92%: the cash cycle held roughly steady between FY21 and FY26 — so conversion tracks profitability rather than the cycle. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: the bigger cash user is investment — capital spending ran 14.4× depreciation over three years, so the next section's job is to check what that build-out is buying.

→ So follow the cash to where it goes. Next: ₹173 Cr of building over 3 years.

09 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Tembo Global Industries Ltd's cash conversion cycle runs 115 days in FY26, down from 122 days in FY21. Capital spending ran ₹173 Cr over the last 3 years. At FY26 sales of ₹1,090 Cr each day of that cycle holds about ₹3.0 Cr, so roughly ₹343 Cr sits inside the business at any moment.

FY26: debtors at 78 days, inventory at 141 days — roughly 4.6 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 115 days, tighter than FY21's 122.

The full loop: cash goes out to suppliers and production on day 0; stock waits 141 days to sell; customers pay about 78 days after that; and suppliers themselves are paid at 104 days — netting out to the 115-day cycle.

In money terms: at FY26 sales of ₹1,090 Cr, each day of the cycle holds about ₹3.0 Cr — so the 115-day loop keeps roughly ₹343 Cr sitting inside the business at any moment.

FY26: a 115-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 7-year window.
−7 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
150116834915days115d141d78d104dFY20FY21FY23FY24FY26
150116834915days115d141d78d104dFY20FY23FY26

On the investment side: capital spending of ₹173 Cr over the last 3 fiscal years against ₹12.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹68.0 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹83.0 Cr, work-in-progress ₹68.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
a build-out
CapexWork-in-progress
916845230₹ Cr₹83₹68FY21FY22FY23FY24FY26
916845230₹ Cr₹83₹68FY21FY23FY26

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 23% and the ROIC − WACC spread is +6.1 pp.

10 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified

Tembo Global Industries Ltd earns a ROCE of 23% in FY26. That is up from a trough of 10% in FY22. Return on invested capital clears the cost of that capital by +6.1 percentage points, so growth here adds value rather than only size. The wiring behind it is 9.0% net margin on 0.83× asset turns.

FY26 ROCE is 23%, recovered from a FY22 trough of 10% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 9.0% net margin × 0.83× asset turns × 2.88× balance-sheet leverage ≈ 21.5% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 18.1% − 12.0% = a +6.1 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.

FY26: ROCE 23% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 6-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY22's 10%
ROCEROIC (annual)WACC
33%26%19%12%5.0%%23%19%FY21FY23FY26
33%26%19%12%5.0%%23%19%FY21FY23FY26
Q4 FY26: ROCE 20.5% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
41%33%25%18%9.9%%20.5%20.5%Q1 FY24Q2 FY25Q4 FY26
41%33%25%18%9.9%%20.5%20.5%Q1 FY24Q2 FY25Q4 FY26

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.85.

11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

Tembo Global Industries Ltd carries total debt of ₹386 Cr against shareholder equity of ₹492 Cr as of Mar 26, a debt-to-equity of 0.78. On the annual view that ratio went from 1.64 in FY22 to 0.78 in FY26. Read the returns elsewhere on this page with that leverage in mind.

Mar 26: total debt of ₹386 Cr against shareholder equity of ₹492 Cr — a debt-to-equity of 0.78. On the annual view, debt-to-equity went from 1.64 (FY22) to 0.78 (FY26). Read the returns on this page with that leverage in mind.

FY26: debt ₹386 Cr at 0.78× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 5-year window.
Total debtDebt-to-equity
4171.7×3131.5×2081.2×1040.9×00.7×₹ Cr×₹3860.78×FY22FY24FY26
4171.7×3131.5×2081.2×1040.9×00.7×₹ Cr×₹3860.78×FY22FY24FY26
Mar 26: debt ₹386 Cr, debt-to-equity 0.78 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 12 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
4172.8×3132.3×2081.7×1041.2×00.6×₹ Cr×₹3860.78×Jun 23Sep 24Mar 26
4172.8×3132.3×2081.7×1041.2×00.6×₹ Cr×₹3860.78×Jun 23Sep 24Mar 26

→ Who owns this, and are they adding or leaving? Next: Promoters cut 16.4 points over 8 quarters.

12 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Promoters cut 16.4 points of Tembo Global Industries Ltd over 8 quarters, the biggest move on the register. That takes promoters to 39.0% of the company. Foreign institutions moved +7.6 points over the same window, to 8.3%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: −16.4 points over 8 quarters to 39.0%; Foreign institutions: +7.6 points over 8 quarters to 8.3%; Domestic institutions: +1.6 points over 8 quarters to 1.6%.

🚨 Why the register moved: promoters drove it (−16.4 points), absorbed on the other side by foreign institutions (+7.6 points) — distribution into the market’s bid.

Fiscal-year ends: promoters −19.0 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
61%45%28%12%−4.5%%36.4%8.6%0.9%54.1%Mar 24Mar 25Mar 26
61%45%28%12%−4.5%%36.4%8.6%0.9%54.1%Mar 24Mar 25Mar 26
Promoters cut 16.4 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
63%46%29%12%−4.7%%39.0%8.3%1.6%51.1%Sep 23Mar 25Jul 26
63%46%29%12%−4.7%%39.0%8.3%1.6%51.1%Sep 23Mar 25Jul 26

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

13 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Tembo Global Industries Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

Related companies · same sector · Trading Every company is compared on the shape of its own curves, not static ratios. The Revenue, EPS and ROCE columns each draw that company's last 12 quarters as a mini line of the ACTUAL level (trailing-twelve-month revenue and EPS, and the ROCE itself) — so a line that climbs is a business getting bigger, a line that sinks is one shrinking. The colour tracks the same line: green when it is rising or steadily healthy, amber when it is rolling over from a high (still elevated but turning down), red when it is falling, grey when flat or stuck. Colour and direction always agree — a green line never points down. The ROCE curve is the return on capital (annual readings for peers, so a slightly coarser line than the quarterly one at the top of this page). The Stage column then runs the same 12-quarter trajectory classifier used at the top of the page on each company and names where it sits. What lands a company in each bucket: CONSISTENT — growth stays positive across the window and returns are healthy (ROCE ≥ 15%, or ROE ≥ 12% for lenders); IMPROVING — profit or EPS fell into real decline, bottomed a few quarters back, and has climbed back to positive and held there; TURNING AROUND — the same kind of trough but more recent, with the latest quarters just lifting off it (an early, unconfirmed turn); TOPPING OUT — growth is still positive but decelerating hard from its own peak while returns have stopped rising; DETERIORATING — two or more growth curves are shrinking (latest below zero) and staying there, not one soft quarter; MIXED — the curves genuinely disagree, or no clean majority, so no single word fits; NO READ — fewer than eight usable quarters. It is a like-for-like read of every company against its own past, not a ranking against the group.
CompanyP/EMkt capRevenueEPSROCEStage
Tembo Global Industries Ltd this page10.8×₹984 CrMixed
Adani Enterprises Ltd₹4.1L CrMixed
Lloyds Enterprises Ltd1,079.0×₹11,894 CrTurning around
RRP Semiconductor Ltd₹11,877 CrNo read
MMTC Ltd92.2×₹9,228 CrNo read
SG Mart Ltd72.3×₹8,993 CrMixed
Rashi Peripherals Ltd18.5×₹5,139 CrConsistent
PTC India Ltd8.0×₹4,866 CrMixed
Euro Pratik Sales Ltd37.2×₹3,083 CrNo read
Shankara Buildpro Ltd23.1×₹2,998 CrNo read
Blue Pearl Agriventures Ltd5,705.0×₹2,795 CrNo read
BN Agrochem Ltd78.2×₹2,688 CrNo read
Onix Solar Energy Ltd34.7×₹2,300 CrNo read
Aayush Art and Bullion Ltd227.0×₹1,790 CrNo read
Onix Solar Energy Ltd117.0×₹1,779 CrNo read
Kothari Industrial Corporation Ltd₹1,761 CrNo read
Kothari Industrial Corporation Ltd₹1,728 CrNo read
Aayush Art and Bullion Ltd882.0×₹1,702 CrMixed
Keto Motors Ltd₹1,603 CrNo read
Le Merite Exports Ltd87.0×₹1,177 Cr
Arisinfra Solutions Ltd18.5×₹1,007 CrNo read
Sudarshan Pharma Industries Ltd43.2×₹1,006 CrNo read
A-1 Ltd383.0×₹947 CrDeteriorating
Bizotic Commercial Ltd86.4×₹936 Cr
Neueon Corporation Ltd₹930 CrNo read
Shah Foods Ltd276.0×₹908 Cr
Hexa Tradex Ltd₹857 CrNo read
Dhunseri Ventures Ltd9.4×₹854 CrDeteriorating
Vision Infra Equipment Solutions Ltd24.9×₹774 Cr
Hardwyn India Ltd58.5×₹773 CrImproving
Yogi Ltd36.9×₹765 CrNo read
Patel Retail Ltd19.1×₹746 CrNo read
Yogi Ltd39.1×₹741 CrNo read
Nupur Recyclers Ltd51.0×₹725 CrMixed
Mardia Samyoung Capillary Tubes Company Ltd687.0×₹707 CrNo read
State Trading Corporation of India Ltd15.9×₹707 CrNo read
Uniphos Enterprises Ltd33.0×₹683 CrNo read
Cropster Agro Ltd43.7×₹679 CrNo read
Fabtech Technologies Ltd13.7×₹666 CrNo read
Sudarshan Pharma Industries Ltd28.7×₹609 CrNo read
12 · Frequently asked questions

Frequently asked questions

What is Tembo Global Industries Ltd's share price today?

Tembo Global Industries Ltd trades at ₹547, +7.3% over the past year. The company is valued at ₹984 Cr. The stock sits at 25% of its 52-week range of ₹467–₹781, −4.9% versus its 200-day average. On the tape, the price is topping out, 3 weeks in. — as of 24 July 2026.

What were Tembo Global Industries Ltd's latest quarterly results?

Tembo Global Industries Ltd reported revenue of ₹346 Cr and net profit of ₹30.0 Cr for the Mar 26 quarter. Revenue rose 26.3% and profit rose 87.5% year on year. Earnings per share were ₹14.51. The operating margin was 11.0%, 1.0 pp higher than a year earlier. — as of 24 July 2026.

What is Tembo Global Industries Ltd's revenue?

Tembo Global Industries Ltd reported revenue of ₹346 Cr in the Mar 26 quarter, +26.3% year on year. For the full FY26 fiscal year, revenue was ₹1,090 Cr (+46.5%). Over the last 6 years revenue compounded at 54.9% a year. — as of 24 July 2026.

What is Tembo Global Industries Ltd's profit?

Tembo Global Industries Ltd earned ₹30.0 Cr of net profit in the Mar 26 quarter, +87.5% year on year — the 10th straight quarter of growth. Full-year FY26 profit was ₹98.0 Cr. The operating margin ran 11.0% in the latest quarter. — as of 24 July 2026.

What is Tembo Global Industries Ltd's market cap?

Tembo Global Industries Ltd's market capitalisation is ₹984 Cr at a share price of ₹547. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.

What is Tembo Global Industries Ltd's P/E ratio?

Tembo Global Industries Ltd trades at a P/E of 10.8×, at the 2nd percentile of its own 6-year range, against a long-run median of 31.4×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.

Does Tembo Global Industries Ltd pay a dividend?

Not in its latest year — Tembo Global Industries Ltd's dividend payout was 0% of profit in FY26. It did record a payout in 4 of its last 7 reported fiscal years, so there is a history but no current dividend. — as of 24 July 2026.

Is Tembo Global Industries Ltd overvalued?

On its own history, Tembo Global Industries Ltd looks cheap against its own history: its P/E of 10.8× has been cheaper only 2% of the time in 6 years (long-run median 31.4×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 24 July 2026.

Is Tembo Global Industries Ltd growing?

Yes — Tembo Global Industries Ltd is growing: latest-quarter revenue +26.3% year on year, profit +87.5%, and the margin +1.0 pp at 11.0%. The 6-year compound rates are 54.9% (revenue) and 91.3% (profit). The earnings engine currently reads: improving — as of 24 July 2026.

How is Tembo Global Industries Ltd performing?

Tembo Global Industries Ltd is topping out, 3 weeks in. Its latest quarter's revenue rose 26.3% and profit rose 87.5% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 6 weeks. This describes what the data did, not a rating. — as of 24 July 2026.

What stage is Tembo Global Industries Ltd in?

Mixed — growth is normalizing off a hyper-growth base: revenue growth has eased from +100.0% at its peak to +26.3% (single-quarter readings) but is still expanding, ROCE holding at 23.0%. The read comes from the last 12 quarters of growth (revenue growth +26.3% latest, profit growth +87.5% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.

Is Tembo Global Industries Ltd in an uptrend?

It is stalling — the price is topping out (week 3 of stage 3), trading −4.9% versus its 200-day average and at 25% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.

Is Tembo Global Industries Ltd beating the market?

Not lately — on a trailing-13-week view Tembo Global Industries Ltd is currently behind the NIFTY 500 (6 weeks and counting; last ahead the week of 2026-06-19), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 7.9 years the stock moved +1,586% against the NIFTY 500's +137% — ahead of the index over the full window. — as of 24 July 2026.

Will Tembo Global Industries Ltd's share price go up?

This page publishes no price forecast for Tembo Global Industries Ltd. What it measures instead: the share price is ₹547, the price is topping out 3 weeks in. Its P/E of 10.8× sits at the 2nd percentile of its own 6-year range. — as of 24 July 2026.

Who owns Tembo Global Industries Ltd?

Promoters hold 39.0% of Tembo Global Industries Ltd, foreign institutions 8.3%, domestic institutions 1.6% and the public 51.1% (latest quarter). The biggest move on the register over the last two years: Promoters cut 16.4 points over 8 quarters. — as of 24 July 2026.

Does Tembo Global Industries Ltd have too much debt?

It is moderate — Tembo Global Industries Ltd's debt-to-equity is 0.85, and operating profit covers the interest bill 6×. FY26 borrowings were ₹386 Cr against equity of ₹453 Cr. Read the returns on this page with that leverage in mind — as of 24 July 2026.

What is Tembo Global Industries Ltd's capex?

Tembo Global Industries Ltd spent ₹173 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹83.0 Cr, with ₹68.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.

What is Tembo Global Industries Ltd's cash flow?

Tembo Global Industries Ltd generated ₹−90.0 Cr of operating cash flow in FY26 and ₹−173 Cr of free cash flow after ₹83.0 Cr of capital spending. Reported profit that year was ₹98.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.

Is Tembo Global Industries Ltd's profit real cash?

Not fully — over the last 3 fiscal years, −92% of Tembo Global Industries Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹−90.0 Cr against reported profit of ₹98.0 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 24 July 2026.

Where is Tembo Global Industries Ltd in its business cycle?

Tembo Global Industries Ltd's FY26 operating margin was 13.0%, against a 7-year band of 5.0%–13.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 11.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.

What could break the Tembo Global Industries Ltd story?

The sharpest disagreement: profits are rising, but only −92% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.

Is Tembo Global Industries Ltd a stock worth studying right now?

This is not investment advice. The machine read: Tembo Global Industries Ltd's earnings have outrun its stock. EPS grew +49.5% in a year against a +7.3% price move. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.

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