Tamboli Industries is a holding company whose entire identity is built around a single, world-class manufacturing technology: investment casting, or Feinguss - a precision method that creates complex metal parts from a wax pattern and a ceramic shell. The Tamboli family pioneered this technology in India in the mid-1970s, and the group now operates through its wholly owned subsidiary Tamboli Castings Limited, a Star Export House that ships roughly 85% of its output to Fortune 500 clients across Europe and the Americas. The recurring approach is to be a deeply embedded, single-source partner for the world’s most demanding industrial buyers - not a vendor of off-the-shelf parts, but a co-engineering shop that takes a custom component from concept to a ready-to-fit, fully machined piece, all under one roof.
Business segments
Two engines, one heartbeat - a precision-components factory that is the group’s entire operating muscle, and a holding-company layer that channels its cash flows into a simpler corporate structure.
1. Investment castings and precision components: the factory that is the business
A single plant in Gujarat makes over 150 alloys of custom metal parts for everything from European factory automation to Indian railway locomotives - and ships four out of every five pieces overseas.
- One process, thousands of shapes - the lost-wax method starts with a wax pattern, coats it in ceramic, melts the wax out, and pours molten metal into the hollow shell, yielding parts from 10 grams to 80 kilograms with tolerances other methods cannot hold.
- Sold as a complete solution, not a casting - the company provides fully machined, ready-to-fit components, with in-house 3D printing, scanning, and prototyping to cut clients’ development time, plus engineering support from alloy selection to final tolerance optimisation.
- The customer list is the moat - it serves Fortune 500 companies as a direct or tier-1 supplier, is a top supply partner to a German global conglomerate, and has begun tier-1 deliveries for Indian Railways’ Amrit Bharat Express train project.
- Certified for the hardest rooms to enter - the plant holds aerospace (EN 9100:2018) and automotive (IATF 16949:2016) quality badges, plus German pressure-vessel approvals (AD 2000-Merkblatt W0 and PED 2014/68/EU), which together act as a barrier to less-proven rivals.
- Automation that watches itself - a robot-operated shelling system, more than 40 CNC machines including Mazak and DMG, and an Industry 4.0 SCADA network that monitors everything from coolant temperature to furnace timing, all on a single 10-acre site with its own 1 MW solar plant.
2. Holding and investment activities: the structure that carries the factory
The listed parent holds 100% of the casting subsidiary and has recently folded two dormant land-holding entities into it, leaving a cleaner, leaner group.
- A pure holding company - Tamboli Industries Limited owns the entire equity of Tamboli Castings Limited, which in turn holds 88-89% of the group’s consolidated net assets, making the parent’s value almost entirely a claim on the factory.
- Simplified by merger - two step-down subsidiaries that held GIDC-zoned land near the main plant were amalgamated into Tamboli Castings Limited in March 2025, removing layers without altering shareholding.
- A small non-core stake - the group holds a non-controlling investment in Tamboli Chemico (India) Private Limited, carried at fair value and unrelated to the casting operations.
Group structure and partners
The listed entity is a family-controlled holding company with one operating subsidiary, a recently streamlined corporate tree, and a banking relationship anchored to its Bhavnagar home base.
- Tamboli family at the centre - the group is led by the family that introduced investment casting to India, with over five decades of generational knowledge in the technology.
- One listed share, one operating company - Tamboli Industries Limited trades on the BSE under scrip code 533170, with 99.20 lakh shares outstanding, and its sole material asset is 100% ownership of Tamboli Castings Limited.
- Related-party ties are modest - transactions occur with Tamboli Enterprise Ltd, a firm with common directors, involving the sale of silver and purchase of gift articles at market rates.
- Local banking, local audit - State Bank of India’s Nilambaug branch in Bhavnagar is the group’s banker, and P A R K & Company, Chartered Accountants of Bhavnagar, serves as statutory auditor.