SG Mart Q3 FY26 Earnings Call Transcript Released; Focus on EBITDA Growth
SG Mart released its Q3 FY26 earnings call transcript. The company reported ₹40 crore business EBITDA in Q3 FY26, impacted by ₹20 crore inventory loss. It targets ₹60 crore EBITDA in Q4 FY26 and a ₹80-85 crore quarterly run rate by FY27. FY27 EBITDA is projected to exceed ₹350 crore.
The detailed growth strategy, specific EBITDA targets for upcoming quarters and the next fiscal year, and expansion plans for service centers signal a significant positive outlook for the company's financial performance.
The company is confident about future growth, outlining clear strategies to increase EBITDA and revenue across its business segments, despite short-term challenges.
SG Mart Limited has released the transcript of its conference call held on January 23, 2026, concerning its Q3 FY26 earnings. The company acknowledged a tough operating environment due to declining steel prices and soft demand, which impacted financial performance below expectations. Despite this, the company reported a 9% quarter-on-quarter increase in sales volume. The reported EBITDA for Q3 FY26 was ₹17 crore, but the underlying business EBITDA was ₹40 crore, with an inventory loss of approximately ₹20 crore due to steel price corrections. SG Mart outlined a strategy to increase business EBITDA from ₹40 crore in Q3 FY26 to ₹60 crore in Q4 FY26 and projected a run rate of ₹80-85 crore quarterly by FY27.
The company detailed its four key business pillars: Service Centers, B2B Metal Trading, Renewable Structures, and a new segment for open sections (residential rooftop structures, cable trays, purlins). The Service Centre business, with 4 operational centers and plans for 15 more by FY28, reported Q3 volume of 163,000 tons and expects improved EBITDA spreads of ₹2,000 per ton in Q4 FY26. B2B Metal Trading handled 125,000 tons in Q3 and anticipates improved EBITDA spreads of ₹900-1,000 per ton in Q4. The Renewable Structures business achieved 17,000 tons in Q3 and targets 25,000 tons in Q4 with an EBITDA spread of ₹4,000 per ton. The new open sections business is projected to contribute 10,000 tons in Q4 with EBITDA margins of ₹6,000-7,000 per ton.
Looking ahead to FY27, SG Mart aims for a consolidated EBITDA of over ₹350 crore. This includes ₹200 crore from service centers (including ₹50 crore from the Dubai center), ₹50 crore from B2B Metal Trading, and ₹120-150 crore from structures. The company expects to close FY26 with approximately ₹140 crore in full-year EBITDA, a 40% increase from FY25. The management expressed confidence in achieving these targets, emphasizing a focus on business growth and margin improvement, with a long-term guidance of 50% earnings CAGR.
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SG Mart 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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See the model portfoliosA plain-language summary of a public exchange filing by SG Mart Limited. Read the original for the full detail.