Press release on the Unaudited Financial Results for the quarter and half year ended September 30,2025.
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Rathi Steel & Power reported Q2 FY26 total income of ₹156.43 Cr, up 28.39% YoY from ₹121.84 Cr in Q2 FY25, driven by steady demand from infrastructure, construction, and B2B stainless steel customers. EBITDA rose 14.77% YoY to ₹6.37 Cr (vs ₹5.55 Cr). Net profit stood at ₹1.63 Cr compared to ₹6.94 Cr in Q2 FY25, though the prior-year figure included a one-time exceptional gain of ₹4.71 Cr, making the year-on-year comparison less straightforward. Management highlighted continued strength in stainless steel products, steady ramp-up of its recommenced TMT bars facility, and a strategic focus on the recycling/circular economy route for TMT bars. The company continues to maintain minimal debt and is targeting capacity utilisation and margin improvement.
Strong top-line growth of 28% signals healthy demand, while flat-to-declining net profit (without the prior-year exceptional item) shows margins remain under pressure. The ramping TMT bars business and recycling-route strategy are key future growth drivers, but rising steel imports remain a watchpoint for shareholders.