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Sambhv Steel Tubes Q2 FY27 results: net profit up 99.2% to ₹60.95 crore, revenue up 44.1%
Sambhv Steel Tubes Limited reported consolidated Q2 FY27 revenue of ₹835.99 crore and a net profit of ₹60.95 crore. Revenue rose 44.1% from Q2 FY26, while EBITDA increased to ₹100.99 crore and basic EPS to ₹2.07.
Key points
- Consolidated Q2 FY27 revenue was ₹835.99 crore, up 44.1% from Q2 FY26.
- EBITDA was ₹100.99 crore, with an EBITDA margin of 12.1% compared with 10.4% a year earlier.
- Net profit was ₹60.95 crore and basic EPS was ₹2.07, against ₹30.60 crore and ₹1.04 in Q2 FY26.
- In H1 FY27, revenue was ₹1,568.16 crore and net profit was ₹117.47 crore.
- The board approved a 14,400 MTPA stainless-steel seamless pipes and tubes project in Chhattisgarh with an estimated investment of ₹1,480.00 million.
How did Sambhv Steel Tubes perform in Q2 FY27?
Sambhv Steel Tubes reported consolidated revenue of ₹835.99 crore for Q2 FY27, up 44.1% from ₹580.17 crore in Q2 FY26. EBITDA rose 67.6% to ₹100.99 crore, while the EBITDA margin increased 1.7 percentage points to 12.1%.
Net profit was ₹60.95 crore, compared with ₹30.60 crore in Q2 FY26, and basic EPS was ₹2.07 against ₹1.04. From Q1 FY27, revenue rose 14.2% to ₹835.99 crore, EBITDA increased 6.1% to ₹100.99 crore, and net profit rose 7.8% to ₹60.95 crore; basic EPS was ₹2.07 against ₹1.92.
On a standalone basis, Q2 FY27 revenue was ₹835.99 crore and profit attributable to owners was ₹61.29 crore, compared with ₹29.97 crore in Q2 FY26.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 835.99 | 732.17 | 580.17 | +44.1% | +14.2% |
| Other income | 3.60 | 4.81 | 1.07 | +236.4% | −25.2% |
| Total expenses | 758.48 | 660.13 | 540.35 | +40.4% | +14.9% |
| EBITDA | 100.99 | 95.14 | 60.24 | +67.6% | +6.1% |
| EBITDA margin | 12.1% | 13.0% | 10.4% | +1.7 pp | −0.9 pp |
| Profit before tax | 81.10 | 76.86 | 40.89 | +98.3% | +5.5% |
| Tax | 20.16 | 20.34 | 10.29 | +95.9% | −0.9% |
| Net profit | 60.95 | 56.52 | 30.60 | +99.2% | +7.8% |
| EPS (₹) | 2.07 | 1.92 | 1.04 | +99.0% | +7.8% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Sambhv Steel Tubes' costs and profit?
Cost of materials was ₹598.61 crore in Q2 FY27, up ₹157.79 crore from ₹440.82 crore in Q2 FY26. Employee cost increased ₹6.02 crore to ₹40.83 crore, finance costs rose ₹2.49 crore to ₹10.77 crore, and depreciation was ₹12.71 crore, up ₹0.57 crore.
Other expenses increased by ₹6.49 crore to ₹73.13 crore, while other income rose by ₹2.53 crore to ₹3.60 crore. Total expenses increased by ₹218.13 crore to ₹758.48 crore. There was no exceptional item.
Tax expense was ₹20.16 crore, up ₹9.87 crore from ₹10.29 crore in Q2 FY26. Profit before tax rose ₹40.21 crore to ₹81.10 crore, and net profit increased ₹30.35 crore to ₹60.95 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 598.61 | 440.82 | +157.79 | +35.8% |
| Employee cost | 40.83 | 34.81 | +6.02 | +17.3% |
| Finance costs | 10.77 | 8.28 | +2.49 | +30.1% |
| Depreciation | 12.71 | 12.14 | +0.57 | +4.7% |
| Other expenses | 73.13 | 66.64 | +6.49 | +9.7% |
| Total expenses | 758.48 | 540.35 | +218.13 | +40.4% |
| Other income | 3.60 | 1.07 | +2.53 | +236.4% |
| Tax | 20.16 | 10.29 | +9.87 | +95.9% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue was ₹1,568.16 crore, up 37.7% from ₹1,138.80 crore in H1 FY26. Total income rose 38.2% to ₹1,576.57 crore from ₹1,140.65 crore.
Profit before tax increased 82.5% to ₹157.96 crore from ₹86.56 crore, while net profit rose 82.2% to ₹117.47 crore from ₹64.47 crore. Basic EPS increased from ₹2.41 to ₹3.99.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 1,568 | 1,139 | +37.7% |
| Profit before tax | 157.96 | 86.56 | +82.5% |
| Net profit | 117.47 | 64.47 | +82.2% |
| EPS (₹) | 3.99 | 2.41 | +65.6% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹2,438.50 crore, compared with ₹2,065.70 crore on 31 March 2026. Total equity rose to ₹1,169.78 crore from ₹1,053.61 crore, while borrowings increased to ₹555.99 crore from ₹371.31 crore.
Cash declined to ₹2.10 crore from ₹61.90 crore at the previous balance sheet date. Inventories were ₹422.46 crore against ₹442.52 crore, trade receivables were ₹200.36 crore against ₹222.60 crore, and trade payables rose to ₹582.87 crore from ₹554.25 crore.
In H1 FY27, operating cash flow was ₹304.98 crore, compared with ₹13.94 crore in H1 FY26. Investing cash flow was negative ₹528.62 crore against negative ₹88.00 crore, financing cash flow was ₹163.83 crore against ₹76.74 crore, and capital expenditure was ₹475.68 crore against ₹87.47 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 2,438 | 2,066 |
| Total equity | 1,170 | 1,054 |
| Borrowings | 555.99 | 371.31 |
| Cash and equivalents | 2.10 | 61.90 |
| Inventories | 422.46 | 442.52 |
| Trade receivables | 200.36 | 222.60 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 304.98 | 13.94 |
| Cash from investing | −528.62 | −88 |
| Cash from financing | 163.83 | 76.74 |
| Capital expenditure | 475.68 | 87.47 |
Source: Company's results filing (XBRL).
How has Sambhv Steel Tubes done over the last 7 quarters?
Revenue reached a quarterly high of ₹835.99 crore in Q2 FY27, from a low of ₹495.26 crore in Q4 FY25. Revenue rose year on year in each of the last three quarters and has moved upward in the reported sequence.
Net profit was ₹60.95 crore in Q2 FY27, compared with a low of ₹16.58 crore in Q4 FY25. Profit rose year on year in each of the last three quarters. The EBITDA margin reached 12.1% in Q2 FY27, down from 13.0% in Q1 FY27 and above 10.4% in Q2 FY26.
What else did the company announce?
On 29 October 2026, the board approved the unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026, along with the statutory auditors’ limited review reports. The board also approved a greenfield stainless-steel seamless pipes and tubes facility through wholly owned subsidiary Sambhv Tubes Limited.
The project will be located in Chhattisgarh, with proposed initial capacity of 14,400 MTPA and estimated investment of ₹1,480.00 million. It is expected to be completed by March 2028, with ₹1,000.00 million funded through debt and the balance through internal accruals. The company said the project aims to strengthen its presence in value-added steel products and address domestic and export demand.
What did Sambhv Steel Tubes' management say?
Management said Kesda’s 360,000-ton plant and Sarora’s power projects remain on track for March and September 2027, while the 14,400-tpa seamless plant is due by March 2028. The company expects initial seamless capex of INR150 crore, but this is separate from the board-approved project investment disclosed in the results filing.
Management identified QCO relaxation and heavy imports from China as factors that reduced stainless-steel margins. It also said monsoon moisture and raw-material yield affected conversion margins, while commissioning and ramp-up risks remain for the Kesda, Sarora, DFT and seamless projects.
How did Sambhv Steel Tubes shares react?
The stock was trading when the filing appeared, falling 2.1% after five minutes, 0.3% after 15 minutes and 4.8% after 30 minutes. It closed 3.3% below its pre-results close on the reaction day. By the next day’s close, it was 7.3% below the pre-results close.
The Iron & Steel Products industry median was unchanged on the reaction day and fell 1.0% by the next day’s close. Sambhv Steel Tubes therefore underperformed the industry median by 3.3 percentage points on the reaction day and 6.3 percentage points by the next day’s close. Earlier reaction-day moves were 3.9% on 3 August 2026, negative 0.8% on 9 May 2026, negative 2.8% on 31 January 2026, negative 7.1% on 8 November 2025 and negative 5.4% on 14 July 2025.
| After the filing | Stock | Iron & Steel Products median |
|---|---|---|
| 5 minutes | −2.1% | |
| 15 minutes | −0.3% | |
| 30 minutes | −4.8% | |
| Reaction day | −3.3% | +0.0% |
| Next day | −7.3% | −1.0% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 3 August 2026 | +3.9% |
| 9 May 2026 | −0.8% |
| 31 January 2026 | −2.8% |
| 8 November 2025 | −7.1% |
| 14 July 2025 | −5.4% |
Source: MarketPing price-reaction measurement.
How did other Iron & Steel Products companies do?
Twenty-six other Iron & Steel Products companies that had filed for the quarter were compared with Sambhv Steel Tubes, and their median revenue growth was 23.5%. Among the peers, 22 grew more slowly than Sambhv Steel Tubes and four grew faster than the company.
Of the 31 peers for which profit was compared, 20 reported higher profit. Sambhv Steel Tubes’ Q2 FY27 revenue growth of 44.1% was above the peer median revenue growth of 23.5%.
| Sambhv Steel Tubes revenue growth (YoY) | +44.1% |
|---|---|
| Median of 26 other Iron & Steel Products companies | +23.5% |
| Companies with slower revenue growth than Sambhv Steel Tubes | 22 of 26 |
| Companies with faster revenue growth than Sambhv Steel Tubes | 4 of 26 |
| Companies whose net profit rose | 20 of 31 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Sambhv Steel Tubes' revenue in Q2 FY27?
Revenue from operations was ₹835.99 crore, up 44.1% from ₹580.17 crore in Q2 FY26 (consolidated).
Did Sambhv Steel Tubes make a profit in Q2 FY27?
Yes. Net profit was ₹60.95 crore, against a net profit of ₹30.60 crore in Q2 FY26.
What was Sambhv Steel Tubes' EPS in Q2 FY27?
Basic earnings per share were ₹2.07, against ₹1.04 in Q2 FY26.
How did Sambhv Steel Tubes shares react to the Q2 FY27 results?
On the reaction day the stock moved −3.3% from the previous close; the median Iron & Steel Products stock moved +0.0%.
When did Sambhv Steel Tubes announce its Q2 FY27 results?
On 29 October 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Board Meeting Intimation For Approval Of Unaudited Standalone And Consolidated Financial Results For The Quarter And Half Year Ended September 30, 2026. (BSE, 26 October 2026) · PDF
- Outcome of Board Meeting (NSE, 29 October 2026) · PDF
- Capacity addition (NSE, 29 October 2026) · PDF
- The earnings call (3 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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