Sambhv Steel Tubes Limited has informed the Exchange about Transcript
SAMBHV · price
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On the reaction day the stock moved 1.5 pts more than Nifty Microcap 250 and 2.4 pts more than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Sambhv Steel Tubes held its maiden earnings call after a successful IPO listing on July 2, 2025, raising INR 440 crores. Q1 FY26 was its best quarter ever, with revenue up 69% year-on-year to INR 559 crores, EBITDA up 58% to INR 73 crores at a 13% margin, and PAT up 35% to INR 33 crores. Sales volumes grew 50% YoY to 92,706 tons, with EBITDA per ton improving to INR 7,800 (INR 8,600 excluding sponge iron). Management announced major capacity expansion plans, including a Greenfield project at Kesda adding 1.2 million tons in three phases (Phase 1 by FY27), and doubling stainless steel and GP coil capacity to 116,000 tons each by Q4 FY26. The company targets 4-5% market share post Phase 1, eventually reaching 10%, with revenue mix shifting to 50-50 stainless steel and ERW/galvanized products.
Strong quarter with record results and clear long-term growth roadmap should be positive for the stock. Margin guidance of 12-13% EBITDA and debt-to-EBITDA below 1 signals financial discipline. However, total capex numbers for the full expansion plan were deferred, and the stock remains under BSE's ASM Stage 1 surveillance, which is a short-term overhang.