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Garg Furnace Limited reported strong Q2 FY26 results with revenue of ₹26,138.43 lakh, up 2.04% QoQ from ₹26,015.31 lakh in Q1 FY26. Net profit jumped 119.5% QoQ to ₹274.19 lakh, and rose 272.3% YoY from ₹124.88 lakh. Operating profit grew 111.5% QoQ and 190.7% YoY to ₹3.11 Cr, while operating profit margin expanded sharply from 2.44% to 5.07% QoQ (a 263 bps improvement). The company credited its performance to a shift toward value-added steel grades for automotive, agri-machinery, and industrial applications, chemistry-led product innovation, and tight cost control, achieving 100% capacity utilization. Subsidiary Vaneera Industries is setting up a new alloy steel facility expected to broaden the product mix and boost long-term profitability.
Significant margin expansion and profit growth indicate operational turnaround and successful execution of the value-added steel strategy. The upcoming alloy steel expansion via Vaneera could support sustained earnings growth, likely viewed positively by investors.