Tamboli Industries Ltd (TAMBOLIIN)
🎯 Key Takeaways
- Tamboli Industries Ltd is a mature, cash-generative financial services entity operating in a niche segment with stable governance and consistent shareholder returns. The company demonstrates low leverage and steady profitability, positioning it as a low-volatility financial player with predictable cash flows.
- Revenue declined 19% QoQ to ₹18 in Q1FY27.
- ⚠️ Sustained revenue decline across four consecutive quarters raises concerns about demand stagnation or competitive pressure in the financial services s
- Market Cap
- ₹302
- P/E Ratio
- 28.4
- P/B Ratio
- 2.47
- ROE
- 8.7%
- ROCE
- 12.0%
- Debt/Equity
- 0.02
- Div Yield
- 0.39%
- Promoter
- 52.8%
📖 The Story
Tamboli Industries Ltd is a mature, cash-generative financial services entity operating in a niche segment with stable governance and consistent shareholder returns. The company demonstrates low leverage and steady profitability, positioning it as a low-volatility financial player with predictable cash flows. Management maintains continuity in leadership and capital allocation, reflecting a conservative and disciplined approach to operations and governance.
📰 What's Happening
At the 18th AGM held on August 27, 2026, shareholders approved the standalone and consolidated financial statements for FY2026, declared dividends, and reappointed Mr. Vipul H. Pathak as Whole-Time Director. The meeting also saw the appointment of Mr. Ashish Shah as Scrutinizer. No new business initiatives or strategic shifts were disclosed. The reappointment of Pathak signals management continuity, while the use of e-voting and remote participation reflects evolving governance practices. No forward-looking guidance was provided during the session.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|
| Revenue | 19 | 22 | 23 | 18 |
| Operating Profit | 2 | 4 | 5 | 3 |
| OPM % | 11.2% | 16.3% | 20.4% | 13.9% |
| Net Profit | 2 | 3 | 4 | 2 |
| EPS | ₹1.95 | ₹2.52 | ₹4.13 | ₹2.11 |
Operating revenue has declined sequentially over the past four quarters, from ₹23 crore in Q3 FY25 to ₹18 crore in Q1 FY27, with operating margins also trending downward from 20.4% to 13.9%. However, profitability remains stable in absolute terms, with net profit holding steady around ₹2–4 crore per quarter. Earnings per share has mirrored this pattern, declining from ₹4.13 to ₹2.11 over the same period. Despite lower top-line growth, margins have not collapsed, suggesting cost discipline is being maintained amid revenue softness.
🔮 Management Outlook & What's Next
Management did not provide any forward guidance or commentary on future performance in the latest AGM or board meeting filings. There were no announcements regarding new products, market expansions, or operational targets. The absence of strategic updates suggests a focus on sustaining current operations rather than pursuing aggressive growth or transformation.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 10 | 10 | 10 | 10 |
| Reserves | 104 | 102 | 113 | 106 |
| Borrowings | 6 | 5 | 2 | 5 |
| Total Liabilities | 127 | 128 | 135 | 134 |
| Fixed Assets | 32 | 34 | 53 | 32 |
| Investments | 0 | 0 | 11 | 11 |
| Total Assets | 127 | 128 | 135 | 134 |
The balance sheet remains robust with negligible debt (₹2–5 crore in borrowings) and strong equity base supported by consistent reserves growth from ₹104 crore to ₹113 crore over the past year. Total assets have risen modestly, indicating capital preservation and reinvestment of earnings. The capital structure reflects minimal financial risk, with borrowings representing less than 2% of total assets and equity.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2026 |
|---|---|
| Operating | +12 |
| Investing | -10 |
| Financing | -5 |
| Net Cash Flow | -3 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 52.8% | 52.8% | 52.8% | 52.8% |
| FII | 0.0% | 0.0% | 0.0% | 0.0% |
| DII | 0.0% | 0.0% | 0.0% | 0.0% |
| Public | 37.4% | 36.9% | 36.9% | 36.7% |
| # Shareholders | 3,199 | 3,101 | 3,045 | 3,204 |
Promoter holding remains stable at 52.83% over the last four quarters, indicating confidence in long-term control. Institutional ownership (FII and DII) is currently at 0%, with public shareholding gradually increasing from 36.74% to 37.41% over the past year. The growing number of shareholders (3,045 to 3,204) suggests rising retail participation, though the lack of institutional interest may reflect limited visibility or sector-specific investor preferences.
⚖️ Peer Comparison — Finance
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| BAJFINANCE | 6.06 L Cr | 29.8 | 10.4% | — | 3.82 |
| BAJAJFINSV | 2.79 L Cr | 27.4 | 11.4% | — | 5.50 |
| SHRIRAMFIN | 2.29 L Cr | 17.2 | 11.5% | — | 3.80 |
| ICICIAMC | 1.60 L Cr | 32.1 | 111.5% | — | 0.00 |
| JIOFIN | 1.44 L Cr | 67.7 | 2.3% | — | 0.17 |
| TATACAP | 1.41 L Cr | 25.7 | 8.4% | — | 5.28 |
| CHOLAFIN | 1.39 L Cr | 24.1 | 9.3% | — | 6.93 |
| BAJAJHLDNG | 1.19 L Cr | 13.4 | 12.4% | — | 0.00 |
| MUTHOOTFIN | 1.10 L Cr | 9.7 | 14.4% | — | 3.88 |
| PFC | 1.07 L Cr | 4.1 | 9.8% | — | 7.62 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. Sustained revenue decline across four consecutive quarters raises concerns about demand stagnation or competitive pressure in the financial services segment. 2. Declining operating margins despite stable profitability suggest potential pricing pressure or rising operational costs not being fully passed on. 3. Absence of institutional investor interest may limit liquidity and market depth, especially during volatility. 4. Lack of forward guidance from management reduces visibility into recovery or growth catalysts.
📋 Recent Filings
- Announcement2026-09-28Tamboli Industries Ltd announced the closure of its insider trading window effective 1 October 2026 through 48 hours after announcing quarterly financ…
- 🟡 Board Meeting2026-09-02At the 18th Annual General Meeting on August 27, 2026, shareholders approved all resolutions including board appointments and remuneration reports, wi…
- 🟡 voting results2026-08-29Tamboli Industries held its 18th AGM on August 27, 2026 via video conference, with voting conducted through remote e-voting and e-voting facilities. T…
- 🟡 Board Meeting2026-08-27Tamboli Industries held its 18th AGM on August 27, 2026 via video conference, approving FY26 standalone and consolidated financial statements, declari…
🧠 Analyst's Read
Tamboli Industries operates as a stable, low-debt financial services firm with consistent dividend policy and governance, but faces headwinds from declining revenue trends and thinning institutional appeal. The next critical watchpoint is whether management provides strategic clarity or initiates operational improvements to reverse the revenue trajectory. Until then, the investment case hinges on confidence in underlying cash flow sustainability rather than growth potential.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-30.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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