Q2 FY27 net profit rises 27% as sales and margins improve
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On the reaction day the stock moved 1.1 pts more than Nifty Midcap 150 and 2.5 pts more than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Q2 FY27 sales rose 13% year on year to 963,143 tonnes. Revenue was Rs 70.0 billion and net profit Rs 3.8 billion, up 27%. Profit before interest, tax and depreciation rose 29% to Rs 5.8 billion, while profit per tonne rose 15% to Rs 5,999. H1 net profit was Rs 6.5 billion. Management expects better demand and a stronger second half. Capacity will reach 8 million tonnes by FY28 from 5 million. The pipeline includes 220,000 tonnes of enquiries.
Strong sales and profit growth support shareholders. Better demand and capacity expansion may aid growth, but execution and input costs remain risks.