Company core business is trading in Iron & Steel products.
Q2 FY26 Earnings Results
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Revenue from Operations: ₹406.6 crore, up 22.9% QoQ from ₹330.9 crore and up 5.5% YoY from ₹385.5 crore.
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Operating Profit (EBITDA proxy): ₹23.7 crore; operating margin about 5.8%, down ~90 bps QoQ from ~6.8%.
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Profit After Tax (PAT): Reported consolidated PAT for the quarter is ₹62 crore.
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Key driver: Revenue grew well QoQ, but profit was hit by a sharp normalisation in other income versus the exceptionally high Q1 base, and core margins stayed in mid‑single digits.
Management Commentary & Strategy:
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The quarter is characterised in public analyses as “mixed”: healthy sequential revenue recovery, but earnings quality remains weak due to heavy dependence on volatile other income and thin operating margins.
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Rights issue proceeds of about ₹496 crore have been deployed largely into subsidiaries and general corporate purposes, supporting growth in engineering, electrical and real‑estate related initiatives.
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Strategically, the group is focusing on:
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Scaling engineering and electrical businesses via Lloyds Engineering Works and related entities.
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Building a real‑estate pipeline (including MoUs for land in Khopoli) and growing the steel and trading base.
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Gradually improving operating efficiency so that profitability depends more on core operations and less on non‑operating income.
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Q1 FY26 Earnings Results
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Revenue: Around ₹331 crore total income, with operating revenue to be ₹22 crore range; the gap is mainly a very large other‑income item of ₹282 crore.
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Profit Before Tax (PBT): ₹288 crore, up sharply QoQ and YoY due to that one‑off other income.
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Profit After Tax (PAT): ~₹249 crore (vs ~₹17 crore in Q1 FY25), implying multiple‑fold YoY growth, again driven primarily by non‑recurring other income rather than core business expansion.
To view the company’s previous earnings and latest concall transcripts, click here to visit the Alphastreet India news channel.