Sambhv Steel Tubes shares Q2FY26 concall transcript, details strong H1 performance and ₹935 crore stainless steel CAPEX.
Sambhv Steel Tubes released its Q2FY26 concall transcript, highlighting robust H1FY26 financial growth and a significant ₹935 crore CAPEX plan for stainless steel expansion, targeting Q4FY27 commissioning.
The robust H1FY26 financial performance, coupled with a large-scale ₹935 crore CAPEX for a 3,60,000 tons per annum stainless steel facility, signals a major strategic shift and growth trajectory for the company. This expansion, along with the focus on value-added products and new grades, is expected to significantly enhance future revenues and profitability, thus having a high impact.
The company reported its strongest ever half-yearly performance with substantial growth in revenue, EBITDA, and PAT. The planned ₹935 crore CAPEX for stainless steel expansion indicates significant future growth potential and a strategic shift towards higher-margin products, supported by management's positive outlook on sustainable EBITDA margins and successful market penetration with new product grades.
* Sambhv Steel Tubes Limited released the transcript of its conference call held on November 10, 2025, to discuss the unaudited financial results for the quarter and half year ended September 30, 2025. * The company reported its strongest ever half-yearly performance for H1 FY26, with total sales volume, revenue, EBITDA, and PAT growing by 51%, 76%, 94%, and 109% respectively. * H1 FY26 revenue rose to ₹1,139 crore (up 76%), EBITDA increased by 94% to ₹133 crore (11.7% margin), and PAT increased by 109% to ₹63 crore (5.6% margin). * For Q2 FY26, revenue, EBITDA, and PAT increased to ₹580 crore, ₹60 crore, and ₹30 crore, representing year-on-year growth of 83%, 168%, and 446% respectively. * Strategic updates include establishing greenfield and brownfield projects to develop a fully integrated facility with 1.2 million tons per annum finished product capacity over 4-5 years. * Phase-1, targeted for commissioning by Q4 FY27, will involve a 3,60,000 tons per annum stainless-steel coil facility with backward integration, requiring an investment of approximately ₹810 crore. An additional ₹125 crore will be invested in a 25 MW power plant, bringing the total CAPEX to ₹935 crore. * This CAPEX will be funded through a mix of debt (up to ₹600 crore) and internal accruals. * The company received product approvals from 11 government departments in the last six months, including BMC, MHADA, and Delhi CPWD. * Operational highlights for H1 FY26 include record value-added product production of 2.5 lakh tons per annum and sales volume of 1.7 lakh tons per annum (up 59%). Capacity utilization improved to 89% in the Pre-Galvanized Division and 86% in the Stainless Steel Division. * Management expects a sustainable EBITDA margin of 13% for coming quarters and a maintainable yearly EBITDA margin of approximately ₹7,000 per ton. * The company has successfully started manufacturing 304 grade stainless steel since September 2025, producing 1,100 tons by October 31, 2025, and targets 316 and 316L grades. * EBITDA per ton is approximately ₹6,000-₹7,000 for pipes, with an additional ₹1,500 for galvanized products, and ₹14,000-₹15,000 for stainless steel products.
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Sambhv Steel Tubes Limited filed this with the NSE as a statutory disclosure, categorised under concall transcript released. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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