The scheme for building stronger multi-mode twin beams from a greater number of identical twin beams sufficiently weak so that single-photon sensitive on/off detectors suffice in their detection is studied. Statistical properties of these compound twin beams involving the non-classicality are analyzed for intensities up to hundreds of photon pairs. Their properties are compared with those of the genuine twin beams that require photon-number-resolving detectors in their experimental investigations. The use of such compound twin beams for the generation of sub-Poissonian light and measurement of absorption with sub-shot-noise precision is analyzed. A suitable theoretical model for the compound twin beams is developed to interpret the experimental data.