Considered and approved audited financial result for the half year and year ended March 31, 2026
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Karbonsteel Engineering Limited reported FY26 revenue of Rs 300.88 crore, up 10% from Rs 273.05 crore in FY25, crossing the Rs 300 crore milestone for the first time. However, profitability declined significantly with PAT falling 26% to Rs 10.51 crore (from Rs 14.16 crore), while EBITDA margin compressed 255 basis points to 10.86% due to restricted LPG supply, rising steel and crude prices, and a one-time exceptional loss of Rs 1.65 crore. The company's Khopoli plant (contributing Rs 11 crore or 3.66% of turnover) is being shut down due to reduced operational efficiency and lower capacity utilisation. The statutory auditor issued an unmodified opinion but included an Emphasis of Matter highlighting inability to confirm Trade Receivables and Sundry Creditors balances due to lack of customer/vendor confirmations.
Despite revenue growth, margin compression and PAT decline signal operational headwinds from input cost inflation and plant closure. The auditor's Emphasis of Matter on receivable and payable confirmations raises some concern about balance sheet reliability, though the unmodified opinion is a positive. The order book of Rs 253 crore and 50% capacity expansion at Umbergaon provide some growth visibility.