Transcript of Earnings Call held for Q4FY26

JTL Industries reported its highest ever annual sales volume of 3,95,900 MT for FY26 with revenue of INR 2,136 crores and EBITDA of INR 166 crores. Q4FY26 showed strong performance with revenue of INR 693 crores (47.5% YoY growth) and PAT of INR 38 crores. Management guided for 30% volume growth in FY27 based on the Mangaon facility ramp-up (currently at 35-40% utilization, targeting 60-70%). EBITDA per ton for FY26 was INR 3,900, with management expecting 10-15% growth to INR 4,500-4,800 in FY27 as value-added products (27% of Q4 sales) and color-coated pipes come online by H1 FY27. New segment JTL Defence (copper/brass alloys) is scaling from 100 to 500 MT/month run rate with targeted INR 150-200 crores revenue for the year at 10-15% EBITDA margins. Capex for 2 million ton capacity is largely complete with INR 100-120 crores remaining for FY27.