Tamboli Capital Ltd Management Discussions.

A Overview - Financial Performance:

Consolidated revenue from operations increased from 5215.72 Lacs to 6689.99 Lacs, an increase of 28.46% over the previous year and in turn profit before tax increased from 541.84 Lacs to 1270.20 Lacs, an increase of 134.42%. Inspite the impact of Covid-19 globally, Company has performed better and has clocked historicaly highest revenues and profitability numbers, this is a result of increased throughput, improvements in operational efficiency and conversion of selected market opportunities into business. The standalone revenue from operations decreased by 8.55% and profit before tax by 25% over the last year, the decreased in top and bottom line was due to receipt of lower dividend from the subsidiary.

B Industry Structure & Development:

Tamboli Capital Limited (TCAP) through its wholly owned subsidiary Tamboli Castings Limited (TCL), is a technology leader in manufacturing of high precision fully machined investment castings used as components in segments like Automation, Pneumatics, Powergen, Pumps & Valves, Aerospace and Automotives. It has long standing relationship and reputation with customers in Europe, USA and India.

C Opportunities, Risks, Threats and Concerns:

The Company sees opportunities globally by being a high technology & reliable supplier of castings and components to its global customers. In the midst of scenario wherein there is anti china business sentiments in global trade, the export market seems buoyant. Covid-19 pandemic and increased sentiments for using clean and sustainable products will have positive impact on business segments such as pumps, pneumatics and hydraulics.

CoVID-19 pandemic, health impacts and lockdowns present a serious risk on the operations of the Company as faced by the every company globally.

A rapid increase in commodity prices of our inputs and present constraints of shipment and logistics globally are the concerns faced by the Company, this may result in reduction of margins and supply chain interruptions.

D Outlook:

Expecting no further long lockdowns, healthy employee conditions and a favourable global economic scenario, the Company will continue to deliver sound and steady performance in the time to come.

E Internal Control Systems and Their Adequacy:

The company has a system of internal Control which is reviewed by the Management. The Management evaluates the functioning and quality of the internal controls and provides assurance through periodical reporting. The Management reviews the Internal Audit Reports and the adequacy of internal control on regular basis which is also minimizing any possible risk in the operations of the company.

F Human Resources:

The Human relations continue to be cordial and productive during the year.

G Cautionary Statement:

Statement in the Management discussion and analysis describing the Companys objectives, projections, estimates, expectations may be "forward looking statements" within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make a difference to the Companys operations include, among others, economic conditions affecting demand/supply and price conditions in the domestic and overseas markets, change in the Government regulations, Tax Laws and other statutes and incidental factors.