1. Welded pipes capacity scales from 1,020 to 21,150 MTPA - A new welded facility adding 8,000 MTPA is expected to begin trial runs by end-Q2 FY27, with total welded capacity reaching 21,150 MTPA by H1 FY28. This opens the data centre, water treatment, construction, and HVAC sectors and allows the company to sell welded pipes as a package with seamless to EPC contractors.
2. FY27 revenue growth guided at 25% - Management has guided FY27 revenue growth of 25% off an FY26 base of ₹518.7 cr, with EBITDA margin maintained at 14-15%. The current order book of \~₹175 cr provides 3-4 months of near-term visibility, and the gas disruption that cost \~₹16 cr of revenue in Q4 FY26 is a one-off that does not repeat.
3. Solar power projects to save \~₹8.6 cr annually - Two ground-mounted solar projects totalling 8.79 MW DC have been approved by GEDA, with combined annual generation of 137 lakh KWH and estimated electricity bill savings of \~₹8.63 cr per year. Power and fuel represent 17-18% of total expenses, so the saving flows largely to EBITDA once commissioned.
4. Export revenue surges, mix shifting to 40% target - Export revenue grew 39% YoY to ₹179.5 cr in FY26, reaching 34.6% of total revenue, with Q4 FY26 exports up 96.9% YoY to ₹55.3 cr or 44.7% of the quarter's revenue. Management targets a 40:60 export-domestic mix going forward, and plans to establish direct offices in Europe to strengthen local customer interface and logistics.
5. Mother hollow captive consumption moving to 100% - Captive consumption of mother hollows from the 20,000 MTPA hot piercing mill reached 70% in FY26, with full captive utilisation targeted by FY28. Eliminating external hollow purchases removes a margin leakage on the company's own seamless input, directly supporting the guided 14-15% blended EBITDA margin.
6. Marine certifications nearing completion - Rina Marine (Italy) approval is in the final stage and expected within weeks of Q4 FY26, while Bureau Veritas Marine (France) has been applied for and Lloyds Marine (UK) is already in hand. These certifications unlock the marine sector across European markets, adding a new end-use vertical for seamless pipes alongside the existing oil and gas and nuclear segments.
7. Data centre order book expected by late FY27 - The company has inquiries on hand and customers waiting for the welded mill to start, with an order book from data centres expected in the last quarter of FY27. Additional capex is being deployed for specialised mills to produce the dimensions required for cooling, condensing, and HVAC systems in data centres.