Un-audited Financial Results and Statements for the Quarter & half year ended September 30, 2025.
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Scan Steels reported a standalone Q2 FY26 loss of Rs. 24.73 lakhs (vs a loss of Rs. 134.69 lakhs in Q2 FY25), driven by revenue of Rs. 13,295.69 lakhs, down about 5% YoY from Rs. 13,994.70 lakhs. For the half-year, revenue dipped roughly 2.3% to Rs. 36,495.77 lakhs and standalone PAT fell about 26% YoY to Rs. 979.38 lakhs from Rs. 1,322.28 lakhs, with EPS of Rs. 1.67 vs Rs. 2.53. Short-term borrowings jumped sharply from Rs. 6,192 lakhs to Rs. 10,172 lakhs, while cash and bank balances dropped from Rs. 977 lakhs to Rs. 446 lakhs. Cash flow from operations improved to Rs. 1,823.62 lakhs versus Rs. 699.45 lakhs in the prior year. Statutory auditor Das Pattnaik & Co issued a clean (unmodified) limited review report on both the standalone and consolidated results.
Weak Q2 with a small loss and a sharp YoY drop in half-year profitability point to margin pressure in the steel business. Rising short-term debt and falling cash reserves are red flags for liquidity, even though operating cash flow improved. Shareholders should watch the profitability trend and borrowing levels in coming quarters.