• The document contains the transcript of an earnings conference call held on June 01, 2026, discussing Q4 FY26 and Full Year FY26 results.
  • The call was hosted by Nuvama Wealth and featured management participants Mr. Ashish Jain (Executive Director) and Mr. Umesh Chandra Pant (Chief Financial Officer).
  • The purpose was to discuss financial performance, strategic transformation, capacity expansion, and future outlook following the annual results.

Financial Performance Highlights

  • Revenue from operations remained almost flat at INR809 crores compared to INR810 crores in FY25.
  • EBITDA increased by 3% to INR31 crores from INR30 crores last year.
  • Profit before tax decreased by 18% to INR18 crores from INR22 crores in the previous year.
  • Profit after tax reduced by 19% to INR13 crores from INR16 crores last year.
  • Net worth increased significantly by 54% from INR178 crores to INR274 crores, driven by a preferential capital raise of INR83 crores.

Operational and Strategic Updates

  • The company commissioned a new Italian extrusion press at Pithampur, increasing extrusion capacity from 10,000 tons per annum to 24,000 tons per annum.
  • Completed acquisition and refurbishment of the Dewas facility for future tubing and downstream value-added business.
  • FY26 extrusion volumes were 7,300 metric tons with blended EBITDA of approximately $300 per ton.
  • Export revenue accounted for approximately 50% of manufacturing sales (INR150 crores out of INR300 crores).

Future Outlook and Guidance

  • Management expects FY27 to be a "flat year" with volumes similar to FY26 (7,300-7,500 tons).
  • Capex guidance: INR40-50 crores for FY27 and INR35-40 crores for FY28.
  • Additional ramp-up costs of INR7-10 crores expected in FY27 for new facilities.
  • Target to achieve 75-80% capacity utilization within the next three years.
  • Focus on increasing value-added products (fabrication, anodizing, powder coating, tubing) with margins ~25% above extrusion margins.

Challenges and Market Conditions

  • Profitability impacted by increased raw material prices (aluminium prices up >50%), lower export contribution, and higher operating costs.
  • Government restrictions on gas supply affected production efficiency and energy costs.
  • US tariffs of 50% on aluminium products significantly impacted export business (80-85% of exports go to US).
  • Geopolitical conflicts affected container availability and Middle East dispatches.
  • Customer qualification cycles and project approvals causing slower-than-expected commercial ramp-up.

Additional Notes

  • The company indicated that no unpublished price sensitive information (UPSI) would be shared during the call.
  • The transcript was attached to the regulatory filing and is also hosted on the company's website.
  • The document represents a compliance filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.