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Remi Edelstahl Tubulars, an India-based stainless steel pipe and tube maker with a 12,000 MT annual capacity at its Tarapur facility, shared its Q1 FY26 earnings presentation. Total income rose 19% year-on-year to ₹2,734.74 lakhs, but total expenses grew faster at 20%, keeping the EBITDA gain modest at 5% to ₹144.83 lakhs. Net profit after tax was up 7% at ₹21.07 lakhs with EPS at ₹0.19. The company also announced a strategic technology partnership with South Korea's WSG Co. Limited to enter ultra-high-purity and titanium tube manufacturing, targeting new growth in food, dairy, pharma, and semiconductor segments. A self-funded capacity upgrade is on track for completion by September 2025.
Revenue growth is healthy, but the gap between 19% top-line growth and only 5% EBITDA growth signals rising costs and weak operating leverage, which may limit near-term stock excitement. The WSG partnership and capacity expansion add longer-term optionality in high-value segments, though execution and returns remain to be seen.