Investor Presentation with respect to the Unaudited Financial Results of Third Quarter and Nine Months ended December 31, 2025.
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BMW Industries reported Q3 FY26 Operating Income of ₹16,216 lakhs, up 9.9% year-on-year and 11.9% quarter-on-quarter, with Operating EBITDA of ₹3,855 lakhs (margin 23.8%, down 69 bps YoY) and PAT of ₹1,761 lakhs (margin 10.8%, up 16.3% QoQ). For 9M FY26, Operating Income stood at ₹45,573 lakhs with EBITDA margin of 23.5%. The CRM Complex saw an 18.1% sequential rise in dispatches, while the TMT Rolling Mill segment declined 53.7% YoY. The company has tied up ₹500 crore in debt from a consortium led by SBI, HDFC Bank and Yes Bank for its ₹803 crore Greenfield Downstream Steel Complex in Bokaro, with the first plant expected to begin operations in early FY27. Net Debt/Equity stands at 0.30, with ROE at 8.5%.
Investors should note that while top-line growth and sequential profitability improved, EBITDA margins continued to compress year-on-year. The substantial debt-funded greenfield expansion increases leverage but is positioned as a long-term growth driver, with the Bokaro project qualifying under the government's PLI 1.1 scheme.