Gallantt Ispat Limited issued a revised press release pursuant to Regulation 30 of SEBI (LODR) Regulations 2015, announcing financial results for the quarter ended 30th June, 2026 (Q1 FY27).

Financial Performance

Revenue from Operations: ₹1146 crore in Q1 FY27, compared to ₹1128 crore in Q1 FY26 (2% YoY increase) and ₹1205 crore in Q4 FY26 (5% QoQ decrease).

EBITDA: ₹203 crore in Q1 FY27, compared to ₹254 crore in Q1 FY26 (20% YoY decrease) and ₹209 crore in Q4 FY26 (3% QoQ decrease).

EBITDA Margin: 18% in Q1 FY27, compared to 23% in Q1 FY26 (470 basis points decrease) and 17.3% in Q4 FY26 (50 basis points increase).

EBITDA per Tonne: ₹8787 in Q1 FY27, compared to ₹11068 in Q1 FY26 (21% decrease) and ₹8882 in Q4 FY26 (1% decrease).

Profit Before Tax (PBT): ₹165 crore in Q1 FY27, compared to ₹216 crore in Q1 FY26 (24% decrease) and ₹162 crore in Q4 FY26 (2% increase).

Profit After Tax (PAT): ₹124 crore in Q1 FY27, compared to ₹174 crore in Q1 FY26 (29% decrease) and ₹123 crore in Q4 FY26 (1% increase).

PAT Margin: 11% in Q1 FY27, compared to 15% in Q1 FY26 (460 basis points decrease) and 10% in Q4 FY26 (100 basis points increase).

Operational Performance

Production Volumes:

  • Power Plant: 116 MWH in Q1 FY27 (4% YoY increase from 111 MWH)
  • Pellet: 112.3 KT in Q1 FY27 (36% YoY decrease from 174.5 KT; compared to 221.6 KT in Q4 FY26)
  • DRI - Sponge Iron: 236.4 KT in Q1 FY27 (2% YoY increase from 231.5 KT; compared to 244.5 KT in Q4 FY26)
  • Billets - Steel Melt Shop: 231.4 KT in Q1 FY27 (1% YoY increase from 229.1 KT)
  • TMT Bars - Rolling Mills: 196.2 KT in Q1 FY27 (0.15% YoY decrease from 196.5 KT)

Sales Volumes:

  • Pellet: 0 KT in Q1 FY27 (100% QoQ decrease from 7.5 KT in Q4 FY26)
  • DRI - Sponge Iron: 12.3 KT in Q1 FY27 (43% YoY decrease from 21.8 KT; 65% QoQ decrease from 35.6 KT)
  • Billets - Steel Melt Shop: 26.7 KT in Q1 FY27 (13% YoY increase from 23.7 KT; 38% QoQ increase from 19.3 KT)
  • TMT Bars - Rolling Mills: 191.8 KT in Q1 FY27 (1% YoY increase from 189.1 KT; 8% QoQ decrease from 207.5 KT)

Key Operational Observations

The planned annual shutdown of the pellet plant for maintenance and utilization improvement moderated volumes across downstream DRI and steel operations. TMT Bar volumes reflected steady demand from infrastructure and housing segments. The company maintained higher captive consumption of pellets and DRI to preserve integration benefits during the shutdown period.

Management Commentary

Mr. C. P. Agrawal, Chairman & Managing Director, stated that Q1 FY27 was shaped by a seasonally soft first quarter with monsoon weighing on construction offtake and TMT prices correcting through the quarter. Coal and iron ore costs firmed industry-wide, compounded by geopolitical tensions including Middle East conflict affecting global freight and input costs.

The ₹3000 crore expansion to 1.23 MMTPA remains on track for H2 FY27 completion. Captive iron ore blocks in Rajasthan and Uttar Pradesh remain targeted for FY2028, expected to strengthen cost position and raw material security.

Company Background

Gallantt Ispat Limited is the largest producer of Rebars in Uttar Pradesh with 25% market share in addressable geographies. The company operates integrated steel manufacturing with two units: Gorakhpur (UP) with 6 lakh MTPA capacity and Kutch (Gujarat) with 4 lakh MTPA capacity, totaling 1.0 MTPA finished steel capacity. Supported by 129 MW captive power, backward integrated with pellet manufacturing capacity of 792 KTPA, and secured iron ore mine blocks in Uttar Pradesh and Rajasthan. Listed on BSE and NSE since 2006 with IND AA-/Stable long-term credit rating.