Key Financial Results (Quarter Ended September 30, 2026)

  • Revenue from operations: ₹1,489.48 million (compared to ₹1,452.65 million in Q2 FY26)
  • Other income: ₹19.88 million (compared to ₹36.63 million in Q2 FY26)
  • Total income: ₹1,509.36 million
  • Cost of raw materials and components consumed: ₹1,035.03 million
  • Employee benefits expenses: ₹30.15 million
  • Finance costs: ₹69.33 million (increased from ₹55.10 million in Q2 FY26)
  • Depreciation and amortization expenses: ₹48.04 million (significantly increased from ₹17.19 million in Q2 FY26)
  • Other expenses: ₹309.71 million
  • Profit before tax: ₹60.33 million (down from ₹187.70 million in Q2 FY26)
  • Tax expense: Current tax ₹(3.00) million, Deferred tax ₹15.48 million
  • Net profit for the quarter: ₹47.85 million (down from ₹139.69 million in Q2 FY26)
  • Earnings per share (basic/diluted): ₹0.80 (down from ₹2.42 in Q2 FY26)

Half Year Performance (Ended September 30, 2026)

  • Revenue from operations: ₹2,732.93 million
  • Other income: ₹36.18 million
  • Total income: ₹2,769.11 million
  • Net profit for half year: ₹100.35 million (down from ₹210.52 million in H1 FY26)
  • Earnings per share (basic/diluted): ₹1.68 (down from ₹3.86 in H1 FY26)

Balance Sheet Position (As at September 30, 2026)

  • Total assets: ₹7,926.28 million (increased from ₹6,878.96 million as at March 31, 2026)
  • Property, plant and equipment: ₹2,172.13 million (increased from ₹1,831.43 million)
  • Capital work in progress: ₹453.85 million (increased from ₹88.10 million)
  • Inventories: ₹2,271.30 million
  • Trade receivables: ₹1,360.09 million
  • Cash and cash equivalents: ₹7.48 million (decreased from ₹40.88 million)
  • Equity share capital: ₹599.09 million (unchanged)
  • Other equity: ₹3,406.22 million (increased from ₹3,304.00 million)
  • Borrowings (non-current): ₹967.88 million (increased from ₹440.63 million)
  • Borrowings (current): ₹1,324.22 million
  • Trade payables: ₹1,531.63 million

Cash Flow Statement (Half Year Ended September 30, 2026)

  • Cash generated from operations: ₹605.92 million
  • Income taxes paid: ₹(72.34) million
  • Net cashflow from operating activities: ₹533.58 million
  • Purchase of property, plant and equipment and changes in CWIP: ₹(1,106.67) million
  • Net cashflow from investing activities: ₹(871.94) million
  • Net cashflow from financing activities: ₹304.98 million
  • Net decrease in cash and cash equivalents: ₹(33.42) million

Operational and Regulatory Context

  • The company is engaged in manufacturing of stainless-steel pipes and tubes only
  • Segment reporting as defined in Ind AS 108 is not applicable
  • The company does not have any subsidiary, joint venture or associate company
  • Financial results prepared in accordance with Indian Accounting Standards (Ind AS)
  • Format complies with SEBI Circular CIR/CFD/CMD/15/2015 dated November 30, 2015 and July 5, 2016
  • Results reviewed by statutory auditors who expressed an unmodified conclusion

Audit and Compliance

  • Financial results reviewed by Audit Committee and approved by Board of Directors
  • Subjected to review by statutory auditors who expressed an unmodified conclusion
  • Prepared in accordance with Indian Accounting Standards (Ind AS)
  • Compliance with SEBI Listing Obligations and Disclosure Requirements Regulation 33