Key Financial Figures - Q1 FY27 Performance

  • Revenue from Operations: ₹5,455.1 crore, up 23.3% YoY (Q1 FY26: ₹4,423.0 crore) and 4.1% QoQ (Q4 FY26: ₹5,240.4 crore)
  • Gross Profit: ₹1,545.6 crore, up 25.3% YoY, with Gross Profit Margin of 28.3% (27.9% in Q1 FY26)
  • Operating EBITDA: ₹765.3 crore, up 32.0% YoY, with Operating EBITDA Margin of 14.0% (13.1% in Q1 FY26)
  • EBITDA: ₹812.4 crore, up 28.3% YoY
  • Profit After Tax: ₹350.7 crore, up 20.6% YoY (Q1 FY26: ₹290.7 crore) and 12.6% QoQ (Q4 FY26: ₹311.6 crore)
  • PAT Margin: 6.4% (6.6% in Q1 FY26)
  • EPS: ₹12.6 (₹10.5 in Q1 FY26)

Capacity and Operational Highlights

  • 6th largest steel producer in India with 16.93 MTPA combined production capacity
  • 79% of power sourced from captive power plants in Q1 FY27 at cost of ₹2.65 per unit vs grid power cost of ₹5-7 per unit
  • Current captive power capacity: 467 MW
  • 7 manufacturing plants across West Bengal, Odisha, Madhya Pradesh and Jharkhand
  • 1,827 acres land bank with 1,338 acres occupied by plant operations and 489 acres available for future growth

Expansion Projects and Capex Status

  • Total planned CAPEX: ₹18,785 crores
  • CAPEX incurred since listing: ₹9,205 crores (49% of total planned)
  • ₹6,286 crores already capitalized
  • Expansion focused on value-added products: stainless steel, aluminium foils, railway wagons, cold rolling mill

Product-wise EBITDA per Tonne (Q1 FY27)

  • Metallics: ₹2,906
  • Carbon Steel: ₹7,688
  • CR Coil/Sheet: ₹8,444
  • Stainless Steel: ₹10,194
  • Speciality Alloys: ₹21,809
  • Aluminium: ₹53,661

Financial Position

  • Net cash positive company even at peak CAPEX cycle
  • Strong balance sheet with debt to equity capped at 0.5x
  • Company has never had a loss-making year despite operating in cyclical industry

Growth Guidance and Targets

  • Target to multiply operating platform by FY31: ~2.3x revenue growth and ~2.7x EBITDA growth
  • Target RoE: ~20%, Target RoCE: ~22%
  • Target EBITDA Margin: ~15%
  • Total power generation target: 780+ MW

Corporate Governance

  • CRISIL Ratings: Long Term AA+ (Stable), Short Term A1+
  • Professional Board of Directors with eminent independent members including ex-Chairman & MD of SAIL
  • 20+ years of execution track record with PAT positive throughout

Shareholder Returns

  • 177% return since IPO, outperforming Nifty 50 and Nifty Metal indices
  • Paid post-IPO dividend of ₹714 crore (11% of aggregate PAT of ₹6,410 crore)

ESG Initiatives

  • CSR spending: ₹9.39 crore across healthcare, education, rural development, animal welfare and art & culture
  • Healthcare: 95,000 free OPD visits annually
  • Community initiatives: rainwater harvesting, pond renovation, skill development programs
  • Environmental focus: renewable energy, green cover enhancement, water conservation