Revised Press Release on the unaudited financial results for the quarter ended June 30, 2025
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Awaiting price reaction for this filing.
Rathi Steel & Power reported Q1 FY26 total revenue of ₹155.40 crores, up roughly 22% from ₹127.82 crores in Q1 FY25, driven by a sharp jump in rolled product volumes. EBIDTA was largely flat at ₹6.23 crores versus ₹6.06 crores a year ago, while profit after tax actually fell to ₹1.89 crores from ₹2.69 crores, indicating margin pressure. Rolling mill capacity utilisation improved sharply from about 25% to 39% year-on-year thanks to the start of TMT bar production, whereas steel melting shop utilisation slipped to 55% from 64% on account of a planned maintenance shutdown in April 2025. The company highlighted that its direct-rolling technology is starting to lower power and fuel costs, and it sees headroom to push utilisation higher. This is a revised version of an earlier media release.
Short-term: top-line growth is healthy but bottom-line has shrunk, so the stock may see a mixed reaction. Medium-term: TMT bar entry and improving rolling mill utilisation are positive triggers for volumes and margins, though the stainless steel long products market remains challenging.