Strong Q2 FY27; steel plant targets 700,000 tonnes
VSSL · price
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On the reaction day the stock moved 1.7 pts more than Nifty Microcap 250 and 2.3 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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Q2 FY27 sales volume rose 27% year on year, revenue 39%, and earnings before interest, tax, depreciation and amortisation and net profit each rose about 50%. Management keeps operating earnings per tonne guidance at INR9,000-12,000; inventory gains may not recur. A large global automotive customer placed orders for the forging line. The new plant targets 2029 completion, 2030 stable production and at least 700,000 tonnes in phase two.
Strong results support the stock, but higher project cost, debt, a possible rights issue and dividend pause could hurt shareholder returns.