Key Financial Performance (Consolidated - INR Millions)

Q4 FY26 Performance:

  • Total Income: ₹10,971.9 million (Q4 FY25: ₹11,129.9 million) - decrease of 1.4% YoY
  • EBITDA: ₹1,218.4 million (Q4 FY25: ₹930.5 million) - growth of 30.9% YoY
  • PBT: ₹767.1 million (Q4 FY25: ₹570.9 million) - growth of 34.4% YoY
  • Net Profit: ₹561.0 million (Q4 FY25: ₹419.0 million) - growth of 33.9% YoY
  • Cash Profit: ₹765.0 million (Q4 FY25: ₹561.9 million) - growth of 36.2% YoY
  • EBITDA Margin: 11.1% (Q4 FY25: 8.4%) - improvement of 274 basis points
  • PAT Margin: 5.1% (Q4 FY25: 3.8%) - improvement of 135 basis points

Full Year FY26 Performance:

  • Total Income: ₹41,205.2 million (FY25: ₹39,572.1 million) - growth of 4.1% YoY
  • EBITDA: ₹4,184.9 million (FY25: ₹3,321.6 million) - growth of 26.0% YoY
  • PBT: ₹2,456.3 million (FY25: ₹2,208.8 million) - growth of 18.7% YoY
  • Net Profit: ₹1,825.8 million (FY25: ₹1,656.3 million) - growth of 10.2% YoY
  • Cash Profit: ₹2,496.1 million (FY25: ₹2,105.7 million) - growth of 18.5% YoY
  • EBITDA Margin: 10.2% (FY25: 8.4%) - improvement of 176 basis points
  • PAT Margin: 4.4% (FY25: 4.2%) - improvement of 24 basis points

Operational Highlights

Volume Metrics:

  • Total sales volume for FY26: 468,161 MT, representing YoY growth of 5.8%
  • Annualized capacity utilization rate: ~94%
  • Solar structure volume grew by ~33% in Q4 FY26

Manufacturing Capacity:

  • Six manufacturing plants across Uttar Pradesh and Gujarat
  • Total annual capacity: 500,000 MT
  • ~57% of capacity dedicated to high-margin, value-added products

Key Business Developments

Defence Sector Entry:

  • Goodluck Defence & Aerospace Ltd achieved first overseas dispatch of 155 mm heavy calibre empty shells
  • Manufacturing facility located in Uttar Pradesh
  • Annual capacity: 150,000 shells, with expansion planned to 400,000 shells per annum
  • Company secured technical validations, manufacturer approvals, and regulatory clearances
  • Marks transition from capability creation to sustained commercial participation in international defence manufacturing

Infrastructure Business:

  • Secured order from EPC player in Nepal for supply of galvanized steel tower structures and fasteners
  • Project: 400 kV Double Circuit transmission line project
  • Order secured in May 2026

Growth Drivers & Market Opportunities

Defence Sector:

  • India's focus on defence indigenization with expected private sector participation exceeding 50%
  • Significant long-term opportunities for domestic engineering and manufacturing companies

Infrastructure & Renewable Energy:

  • Increasing investments in renewable energy generation and transmission infrastructure
  • Growing demand for transmission towers, solar structures, and engineering products
  • Global energy security concerns accelerating investments across regions

Railways Sector:

  • Government infrastructure push under PM Gati Shakti
  • Upcoming bullet train and rail modernization projects
  • Expected sustained demand for precision engineering products and specialized steel solutions

Engineering & Hydraulic Tubes:

  • Strong opportunities driven by industrial expansion and infrastructure development
  • Global reconstruction activities supporting demand momentum

Manufacturing Footprint

  • Main operations: Six advanced manufacturing plants across Uttar Pradesh and Gujarat
  • Total capacity: 500,000 MT annually
  • Value-added products: ~57% of capacity
  • Defence subsidiary: Goodluck Defence & Aerospace Ltd with dedicated defence manufacturing plant
  • Defence capacity: Currently 150,000 shells annually, expanding to 400,000 shells
  • Sectors served: Automotive, solar, railways, defence, and infrastructure

Management Commentary

Mr. Mahesh Chandra Garg, Chairman, stated:

  • FY26 was an important year for strengthening strategic positioning across high-growth sectors
  • EBITDA increase reflects success of value-added product strategy and disciplined execution
  • Entry into defence sector and opportunities in renewable energy, railways, and infrastructure position company for sustainable long-term growth
  • Focus remains on enhancing product value, expanding engineering capabilities, and driving profitable growth

Disclaimer

The document contains forward-looking statements subject to risks and uncertainties including domestic and international economic conditions, changes in government regulations, tax regime and other statutes. The company does not undertake to revise any forward-looking statements.