Investor Presentation on FY26 Earnings update for the audited standalone financial results for the quarter and year ended on March 31, 2026
SCODATUBES · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Scoda Tubes reported FY26 revenue of INR 518.7 crores (+7.0% YoY) with PAT of INR 38.8 crores (+22.4% YoY). However, EBITDA declined 2.3% to INR 76.2 crores with margin contracting 140 bps to 14.7%, indicating cost pressures despite gross margin improvement of 127 bps to 31.9%. PAT grew strongly partly due to lower depreciation (INR 9.2 crores vs INR 18.1 crores) and higher other income (INR 10.6 crores vs INR 4 crores). The balance sheet strengthened with Net Debt/Equity improving to 0.3x from 1.1x following IPO proceeds. However, operating cashflow turned negative at INR -13.8 crores (vs +INR 18.4 crores) and Cash Conversion Cycle worsened to 211 days from 164 days. Q4 saw flat revenue with PAT declining 7.4% YoY. The company outlined a 23x capacity expansion roadmap to 21,088 MTPA.
While PAT beat expectations due to lower depreciation charges and other income, the underlying EBITDA margin contraction and negative operating cashflow raise concerns about operational execution. The strong balance sheet provides cushion, but investors should watch for margin recovery and cashflow normalization in FY27.