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Revenue
₹160.09 Cr
verification pending
Revenue YoY
51%
reported change
EBITDA
₹6.41 Cr
latest reported figure
Source
bse pending
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Rathi Steel delivered a strong Q3 FY26 with total income of ₹160.09 crore (+51% YoY) and PAT of ₹1.91 crore (+262% YoY), driven by improved capacity utilization, restart of the TMT mill, and a balanced product mix. EBITDA margin contracted ~40bps YoY to ~4% due to higher power and consumable costs from the TMT mill restart. Management guided for 20% CAGR revenue growth and expects to double turnover in 5 years, targeting capacity utilization of 80-85% from current 60-65% via direct billet charging capex for TMT mill. Key risk: margin expansion is contingent on market conditions and cost reduction initiatives, which remain uncertain.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects to grow at a CAGR of 20% on a leading basis, with turnover doubling in 5 years.
- Target to increase melting utilization from current 60-65% to 80-85% through direct billet charging capex for TMT mill, expected completion this quarter or early next.
- GreenPro certification from CII is expected in Q4 FY26 or early Q1 FY27.
Risks flagged
- Management stated EBITDA margin improvement is subject to market conditions and cost reduction efforts, which are uncertain.
- Management noted that the market for Fe550D and stainless rebar is not growing as fast as anticipated, limiting premium realization.
- Higher volumes will require larger working capital limits; management is seeking lower-cost debt but refinancing risk exists.
Key quotes
- We expect to grow at a CAGR of 20% on a leading basis.
- Selling selling part is not an issue at all for me.
- The stage is still not grow in the way we anticipate. Of course there's a future... but the speed we anticipate it is not the develop.
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