• Quarterly financial performance: Revenue grew 21% year-on-year to ₹1,890 crore and operating profit increased 16% to ₹61 crore with flat margins around 3.2%, overcoming macroeconomic headwinds and steel price volatility early in the quarter.
• Segment growth trends: Core steel products registered a 10% volume growth, while the non-steel segment rebounded with a 15% overall increase, led by a 32% growth in CP sanitary products.
• Product and retail strategy: The company plans to expand higher-margin private labels in tiles and roofing sheets (Ganga brand), enter the PVC market in partnership with Apollo Pipes, and scale up electrical and flat steel offerings.
• Full-year guidance: Management targets 20% annual top-line growth and 1.2 million tons in steel volumes (a 20% increase), while guiding for an EBITDA margin of around 3.5% with an estimated capex of ₹10–15 crore.
• Order pipeline visibility: The project division, which accounts for about 25% of total business, holds a 3- to 4-month order pipeline of approximately ₹150 crore, while retail accounts for more than 55% with short lead times.