Steamhouse India Q2 FY27 Results: EBITDA Surges 73% to ₹246.84 Mn, PAT Jumps 167%
Steamhouse India reported strong Q2 FY27 results with revenue at ₹1,279.97 Mn, up 2.45% YoY. EBITDA surged 73.38% to ₹246.84 Mn, and PAT jumped 167.14% to ₹77.71 Mn. The company plans to install a new nitrogen plant by end-CY2026 and is expanding its green boiler capacity.
The substantial growth in profitability (EBITDA and PAT) and strategic expansion plans like the new nitrogen plant and increased green boiler capacity are material developments that are likely to significantly impact investor perception and the company's future performance.
The company reported significant year-on-year growth in EBITDA and PAT, along with an increase in revenue and improvements in margins. Expansion plans and positive commentary from the management further support a positive sentiment.
Steamhouse India Limited announced its financial results for the quarter ended September 30, 2026, reporting a significant increase in EBITDA and Profit After Tax (PAT).
For the second quarter of FY27 (Q2 FY27), consolidated revenue from operations stood at ₹1,279.97 million, a marginal increase of 2.45% compared to ₹1,249.41 million in the same quarter last year (Q2 FY26). However, EBITDA saw a substantial year-on-year growth of 73.38%, reaching ₹246.84 million from ₹142.37 million in Q2 FY26. The EBITDA margin improved to 19.28% from 11.39% in the prior year's corresponding quarter.
Profit After Tax (PAT) for Q2 FY27 grew by an impressive 167.14% to ₹77.71 million, up from ₹29.09 million in Q2 FY26. The PAT margin also saw a significant improvement, rising to 6.07% from 2.33% in the year-ago period.
For the first half of FY27 (H1 FY27), revenue from operations increased by 7.63% year-on-year to ₹2,566.18 million. EBITDA for H1 FY27 grew by 65.72% to ₹556.15 million, with an improved EBITDA margin of 21.67%. PAT for H1 FY27 rose by 99.56% to ₹261.13 million, with a PAT margin of 10.18%.
Key business highlights for Q2 FY27 include a 12.06% year-on-year increase in steam sales to 301,642.26 tonnes, with EBITDA per tonne improving by 54.72%. The company plans to expand its industrial gases business by installing an additional 750 Nm³/hr PSA nitrogen plant at its Ankleshwar facility, expected by the end of CY2026. Steamhouse also secured an additional 7.73 TPH of steam capacity through tie-ups with seven new customers. The company is focusing on sustainable steam generation, with green boiler capacity expected to increase seven-fold from 15 TPH in FY26 to 105 TPH in FY27.
Mr. Vishal S. Budhia, Promoter, Chairman and Managing Director, commented that despite seasonal moderation due to the monsoon, the company delivered strong year-on-year performance. He highlighted the resilience of the business and its fundamentals, continued business expansion with a 12.06% YoY growth in steam supply volumes, and a marginal quarter-on-quarter decline due to seasonal factors. He also noted the focus on improving efficiencies and maintaining margin stability, despite marginal moderation in margins due to monsoon conditions impacting operational efficiencies. The company anticipates further opportunities from government initiatives and favourable policy frameworks, including the Viksit Gujarat Industrial Policy 2026. The outlook includes expanding geographical presence, strengthening the community boiler portfolio, participating in upcoming tenders, and scaling the nitrogen business.
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