Presentation on unaudited financial results for quarter and half year ended September 30, 2025
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Rathi Steel & Power filed its Q2 FY26 investor presentation on BSE. The company reported Q2 FY26 net sales of ₹156.30 Cr and net profit of ₹1.63 Cr, with EBITDA margin of 4.07%. For H1 FY26, net sales stood at ₹311.59 Cr with net profit of ₹3.51 Cr and EPS of ₹0.41. Management highlighted stable operational performance, strength in stainless steel products, and steady ramping up of its recommenced TMT bars facility. The company is zero-debt (achieved March 2024) after a successful ₹114.71 Cr preferential allotment in Feb 2024. Key growth plans include ramping steel melting shop utilization from 55-60% to 80%, scaling stainless steel rebars, and pushing higher-margin stainless steel grades.
Margin improvement guidance through product mix optimization and capacity utilization ramp-up from ~55% to 80% could drive future operating leverage, though current margins remain thin at ~4%. Zero-debt status and fresh banking lines provide a solid base for the planned growth, but investors should watch for execution on TMT bars ramp-up and stainless rebar scale-up.