Gallantt Ispat Limited announced its unaudited financial results for the quarter ended June 30, 2026 (Q1 FY27) through a press release dated July 27, 2026.
Financial Performance Highlights
Quarterly Comparison (₹ in Crores):
- Revenue from Operations: Q1 FY27 ₹1146 Cr vs Q1 FY26 ₹1128 Cr (2% YoY growth) vs Q4 FY26 ₹1205 Cr (4.8% QoQ decline)
- EBITDA: Q1 FY27 ₹203 Cr vs Q1 FY26 ₹254 Cr (20% YoY decline) vs Q4 FY26 ₹209 Cr (3% QoQ decline)
- EBITDA Margin: Q1 FY27 18% vs Q1 FY26 23% (470 bps decline) vs Q4 FY26 17.3% (50 bps improvement)
- EBITDA per Tonne: Q1 FY27 ₹8787 vs Q1 FY26 ₹11068 (21% decline) vs Q4 FY26 ₹8882 (1% decline)
- Profit Before Tax: Q1 FY27 ₹165 Cr vs Q1 FY26 ₹216 Cr (24% decline) vs Q4 FY26 ₹162 Cr (2% growth)
- Profit After Tax: Q1 FY27 ₹124 Cr vs Q1 FY26 ₹174 Cr (29% decline) vs Q4 FY26 ₹123 Cr (1% growth)
- PAT Margin: Q1 FY27 11% vs Q1 FY26 15% (460 bps decline) vs Q4 FY26 10% (100 bps improvement)
Operational Update
Production Volumes (in KT):
- Pellet: Q1 FY27 0 KT (planned shutdown) vs Q4 FY26 7.5 KT
- DRI - Sponge Iron: Q1 FY27 12.3 KT vs Q1 FY26 21.8 KT (43% decline) vs Q4 FY26 35.6 KT (65% decline)
- Billets - Steel Melt Shop: Q1 FY27 26.7 KT vs Q1 FY26 26.7 KT (13% growth) vs Q4 FY26 19.3 KT (38% growth)
- TMT Bars - Rolling Mills: Q1 FY27 191.8 KT vs Q1 FY26 191.8 KT (1% growth) vs Q4 FY26 207.5 KT (8% decline)
Key Operational Observations:
The quarterly production was impacted by a planned annual shutdown of the pellet plant for maintenance and utilization improvement. This shutdown moderated volumes across downstream DRI and steel operations. TMT Bar volumes reflected steady demand from infrastructure and housing segments. With maintenance activities complete, the company expects the pellet plant to return to normalized utilization levels in coming quarters.
Management Commentary
Mr. C. P. Agrawal, Chairman & Managing Director, stated that Q1 FY27 was shaped by seasonally soft first quarter for the industry with monsoon affecting construction uptake and TMT prices correcting. Coal and iron ore costs firmed industry-wide, compounded by geopolitical tensions including Middle East conflict, which pressured global freight and input costs.
The company's ₹3,000 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 its addressable geographies. The company operates integrated steel manufacturing from two units:
- Gorakhpur (UP): 6 lakh MTPA capacity
- Kutch (Gujarat): 4 lakh MTPA capacity
Total finished steel capacity: 1.0 MTPA
Supported by: 129 MW of captive power
Backward integration: Pellet manufacturing capacity of 792 KTPA
Secured iron ore mine blocks in Uttar Pradesh and Rajasthan
Listed on BSE (532726) and NSE (GALLANTT) since 2006
Credit rating: IND AA-/Stable long-term rating