Revised presentation on Audited Financial Results for quarter and financial year ended March 31, 2026
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Rathi Steel & Power submitted a revised investor presentation to BSE on June 3, 2026, correcting inadvertent errors on slides 5 (Q4 FY25/FY26 figures interchanged) and 19 (CAPEX figure). The earnings call was held at 4:00 PM and concluded at 4:51 PM. For Q4 FY26, Total Income grew 63% YoY to Rs. 244.57 crore, EBITDA rose 23% to Rs. 9.89 crore, and PAT nearly doubled to Rs. 7.45 crore. Full-year FY26 Total Revenue jumped 42% YoY to Rs. 716.49 crore, with PAT up 39% to Rs. 12.87 crore. However, FY26 EBITDA margin declined to 4.03% from 4.81% in FY25, reflecting pricing pressure despite volume growth. The company remains zero-debt (LT debt-to-equity at 0.08x) with a book value of Rs. 17.14 per share. Management outlined plans to ramp capacity utilization from 55-60% to 80%, expand Fe 550D TMT bars, implement Direct Charging Technology for the TMT mill, and pursue both organic and inorganic growth.
Strong top-line and PAT growth signal improving demand and operating leverage, but margin compression is a watchpoint. Capacity ramp-up plans and product mix shift toward higher-margin stainless and Fe 550D grades could support future earnings, though execution and steel price volatility remain key risks.