Karbonsteel Engineering H2 & FY26 earnings call transcript submitted
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Karbonsteel Engineering's FY25 revenue crossed 300 crores (up from 273 cr), with 10.86% EBITDA margin and 10.51 cr PAT. Normalized PAT would be 16.56 cr excluding 1.65 cr bad debt and 2.4 cr rent one-offs. Order book grew from ~200 to ~350 crores. Management guides normalized EBITDA margin of 12-13%, FY26 PAT margin 4-5%, FY27 above 5%. 54,000-ton capacity expansion by October 2025 plus 1 MW solar plant (3-3.5 cr). Long-term aspiration: 800-1,000 crores revenue with 7-8% PAT margins and 17-19% ROE.
Margin expansion guidance, strong order book growth (75% YoY), and capacity expansion point to positive outlook despite one-time drags. Watch October 2025 commissioning.