Presentation to Analysts on Audited Financial Results of the Company for the Quarter and Financial Year ended March 31, 2026
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Rathi Steel & Power shared its Q4 FY26 and full-year results via an analyst presentation. Q4 FY26 total revenue jumped 63% YoY to ₹244.57 crore, Q4 EBITDA grew about 23% YoY to ₹9.89 crore, and Q4 PAT nearly doubled to ₹7.45 crore, driven by ramp-up of the TMT bar mill and better product mix. For the full year FY26, total revenue rose 42% to ₹716.49 crore and PAT grew 39% to ₹12.87 crore. However, full-year EBITDA margin actually compressed to 4.03% from 4.81%, though management highlighted that energy and efficiency gains helped offset steel price volatility. The company reaffirmed its zero-debt status (long-term debt-to-equity of 0.08) and plans to ramp Steel Melting Shop utilization from 55–60% to 80%, with a proposal for a higher-capacity melting unit and rooftop solar.
The strong Q4 revenue surge and PAT doubling suggest healthy operational momentum, but the full-year EBITDA margin slip is a watchpoint. Management's roadmap around direct charging technology, green power, and Fe 550/550D TMT bar expansion could support margin recovery; combined with a debt-free balance sheet and GreenPro certification, the stock may attract fresh institutional interest if capacity utilization gains deliver.