Iron & Steel Products company Shankara Building Products announced Q1FY26 results Revenue stood at Rs 1,644 crore up 27% YoY EBITDA Margins stood at 3.58% PAT stood at Rs 32 crore up 102% YoY Sukumar Srinivas, Managing Director, Shankara Building Products, said: “Shankara has begun FY26 with strong momentum in its core steel marketplace business, achieving volume growth of 35% YoY. The company delivered its highest-ever Q1 volumes at 2.38 lakh tonnes, building on prior years’ successes and is now well positioned to exceed the 1 million tonne milestone in FY26. Profitability saw significant improvement this quarter, with EBITDA and PAT registering 43% and 102% growth, respectively. Q1FY26 marked the company’s most profitable quarter to date. Industry headwinds & tepidness across the building materials sector have subdued growth in the non-steel marketplace business, leading to tapering of growth rates in recent quarters. Nonetheless, Shankara remains focused on strengthening its core categories, including CP & Sanitaryware and PVC Pipes & Fittings. Progress on the company’s proposed demerger slowed during the last quarter due to delays in receiving the final NCLT order, but we remain hopeful for approval in the coming month. FY26 is set to be a defining year in Shankara’s journey.” Result PDF
Iron & Steel Products company Shankara Building Products announced Q4FY25 & FY25 results Q4FY25 Financial Highlights: Revenue for Q4FY25 was Rs 1,639 crore, EBITDA Margin for Q4FY25 stood at 3.20%, PAT for Q4FY25 was Rs 28 crore, FY25 Financial Highlights: Revenue for FY25 was Rs 5,697 crore, EBITDA Margin for FY25 stood at 3.02%. PAT for FY25 was Rs 77 crore, Commenting on the performance, Sukumar Srinivas, Managing Director, Shankara Building Products, said: “Shankara has demonstrated remarkable resilience and growth in FY25, achieving record performance across both its steel and non-steel divisions despite challenging industry conditions. The Company’s steel division posted its highest-ever quarterly and annual volumes, with Q4 volumes reaching 2.58 lakh tonnes - a robust 33% YOY increase. For the full year, Shankara exceeded its ambitious target of 0.8 million tonnes by achieving 8.43 lakh tonnes, reflecting a 5% outperformance. On the Non-Steel front, the Company continued its growth trajectory, reporting a 20% YOY increase in Q4 and an impressive 26% growth for the full year, driven by good performance in CP & Sanitaryware as well as PVC Pipes & Fittings. These achievements are particularly significant given the backdrop of lower steel prices and a subdued building materials market. Looking ahead, Shankara remains optimistic, aiming to cross the 1 million tonne mark in steel volumes in FY26 while further strengthening its Non-Steel business. The Company’s strategic focus and extensive distribution & geographical footprint have positioned it well for sustained growth. Additionally, the demerger process is progressing as planned, with the next major milestone being the NCLT hearing scheduled for 26th May, paving the way for enhanced value creation.” Result PDF
Iron & Steel Products company Shankara Building Products announced Q3FY25 results Revenue: Rs 1,437 crore, change 22% YoY. EBITDA margin: 2.84% for Q3FY25. PAT: Rs 18 crore, change -17% YoY. Sukumar Srinivas, Managing Director, Shankara Building Products, said: “In the face of industry headwinds, including falling steel prices and a tepid building materials environment, Shankara has continued to deliver on its growth trajectory, driven by superior volumetric growth. I am pleased to report that we are fully geared to meet our annual target of 0.8 million tonnes for FY25 and aim for 1 million tonnes for FY26 in our steel product segment. At the same time, our non-steel segment continues to inch up every quarter, with growth across key categories such as Plumbing, Fittings & Sanitaryware. Lastly, we are progressing well on the demerger of our marketplace business, with the shareholder EGM just around the corner. We hope to conclude the entire process within H1FY26.” Result PDF
Iron & Steel Products company Shankara Building Products announced H1FY25 results Financial Highlights: Resilient performance, despite a tough macro environment. Revenue momentum continues - topline at Rs 2,620, +15% YoY in H1FY25. Stronghold in steel business - being India's largest Steel Tube marketplace. Steel volume growth at +25% YoY in H1FY25. Non-steel revenue growth at +35% YoY in H1FY25. EBITDA +11% YoY during H1FY25 to Rs 79 crore, despite softening of steel prices; margin at 3.01%. Finance cost reduced sequentially in Q2FY25, with reduction in borrowings (~100 crore in Q2FY25). PAT stood at Rs 31 crore in H1FY25 - to improve with further reduction in finance cost by FY25. Superior RoCE of ~28% generated by marketplace business; consolidated RoCE at 16%. Working capital days continues to be around 30 days. Operational Highlights: Company on track to open 10 new fulfillment centers in FY25 (4 already opened in H1FY25). Inaugurated 18,000 Sq. ft. experience center in Morbi for Fotia in Sep-24 (link) - set up as strategic.hub for expanding footprint pan India & also for tile exports in the coming years. West and Central regions grew in excess of 50% YoY, contributing 18% of overall revenues in H1FY25. Company has received approval from SEBI for demerger - NCLT proceedings under way. Sukumar Srinivas, Managing Director, Shankara Building Products Ltd, said: "I am glad to announce another quarter of resilient performance. Despite macro slowdown in demand & softened steel prices, our steel volumes grew by 25%, while our non-steel revenue were up 35% in H1FY25. This consistent growth is a testament to Shankara being India's largest marketplace for steel tubes, sanitary ware & fittings, strong distribution tie-ups & consistent endeavor in expanding our steel as well as non- steel portfolio. With strong footprint in South, we are now aggressively expanding in Western & Central region. We are also excited to have inaugurated our experience centre for Fotia in Morbi, Gujarat, offering an extensive collection of innovative tile designs and sizes. This would serve as a strategic hub and aid us in our journey to expanding our footprint pan India.Our plans to demerge our building materials marketplace continues to be on track, with NCLT proceedings underway. This move shall streamline our business structure and facilitate a focused capital allocation strategy." Result PDF
Iron & Steel products company Shankara Building Products announced Q1FY25 results: Revenue at Rs 1,291 crore, grew by 14% YoY Steel Volume grew by 20% YoY Non-Steel Revenues grew by 35% YoY Western and Central India Revenues grew by 52% YoY each EBITDA grew by 20% YoY to Rs 41 crore; EBITDA margin expanded by 15 bps to 3.2% PAT down by 7% YoY to Rs 16 crore, due to an increase in finance cost Earnings per share stood at Rs 6.62 Working capital cycle continues to be around 30 days Commenting on the performance, Sukumar Srinivas, Managing Director, Shankara Building Products, said: “I am glad to announce another quarter of resilient performance. In the backdrop of weak demand due to seasonal softness, exacerbated by general elections and softening of steel prices, we have achieved a 14% growth. Our steel volume grew by 20%, while non-steel vertical saw a robust 35% growth. Our strategic focus on private label in tiles, Fotia Ceramics is yielding strong results. We are excited to announce the expansion of our Fotia brand in quartz sinks. With a dominant presence in South, we are aggressively expanding in Western and Central India now. Bolstering our omnichannel strategy, we have identified 10 new strategic locations for fulfillment centers, which we plan to set up over the next 6-9 months. Our commitment on growing value-added portfolio is consistently enhancing the EBITDA margins. We are also in the process of demerging our building materials marketplace, a move aimed at streamlining our business structure and facilitate a focused capital allocation strategy under our new generation management. We have received NOC from SEBI and are now in the process of filing application with NCLT." Result PDF
Iron & Steel Products company Shankara Building Products announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Revenue from operations grew by 14% YoY to Rs 1,377 crore EBITDA grew by 24% YoY to Rs 45 crore; EBITDA margin at 3.3% PAT grew by 27% YoY to Rs 24 crore Earnings per share stood at Rs 10.0, up by 19% YoY FY24 Financial Highlights: Highest-ever annual revenues at Rs 4,828 crore, grew by 20% YoY Steel Volume grew by 27% YoY Non-Steel Revenues grew by 30% YoY Retail Revenue grew by 14% YoY; average ticket size at Rs 51,959 (+17% YoY) EBITDA grew by 25% YoY to Rs 156 crore; EBITDA margin expanded by 12 bps to 3.2% Record PAT during the year at Rs 81 crore, up by 29% YoY Earnings per share stood at Rs 34.7, up by 26% YoY Working capital days continues to be around 30 days Net Debt levels reduced to Rs 49 crore, from Rs 71 crore in the previous year RoCE improved to 18%, compared to 15% in the previous year Commenting on the performance, Sukumar Srinivas, Managing Director, Shankara Building Products Ltd said: “FY24 marks a successful year for Shankara, showcasing the resilience of our business model. Amidst one of the most challenging periods for the building materials sector, I’m delighted to announce that we have achieved our highest-ever annual revenue and profits. Notably, our steel volume experienced a 27% growth, while the non-steel vertical saw a 30% growth, driven by market share gains across all subsegments. Our commitment to profitable growth has resulted in even stronger profit growth compared to our revenue, with an enhanced mix towards value-added steel and non-steel offerings. Fotia, in particular, has demonstrated exceptional progress with a 50% growth. Our efforts to diversify beyond South India have yielded fruitful results, with Western India contributing 11% to our revenue during the fiscal year. In line with our strategic objectives, we are in the process of demerging our building materials marketplace, a move aimed at streamlining our business structure and facilitate a focused capital allocation strategy under our new generation management. With a resilient foundation and strategic initiatives in place, we are poised for sustained growth in the coming years." Result PDF
Iron & Steel Products company Shankara Building Products announced Q3FY24 & 9MFY24 results: Key Highlights for Q3FY24: Revenue from operations grew by 9% YoY, totaling Rs 1,177 crore. Non-steel revenues saw a remarkable growth of 43% YoY. EBITDA showed strong growth of 23% YoY, reaching Rs 40 crore. The EBITDA margin expanded by 39 bps YoY to 3.4%. PAT experienced a substantial growth of 31% YoY, amounting to Rs 21 crore. The PAT margin expanded by 31 bps YoY to 1.8%. Earnings per share (EPS) stood at Rs 9.1, showing a commendable increase of 27% YoY. Key Highlights for 9MFY24: Revenue from operations experienced a significant growth of 22% YoY, reaching Rs 3,452 crore. Non-steel revenues exhibited robust growth, increasing by 35% YoY. EBITDA showed a notable growth of 25% YoY, reaching Rs 111 crore. The EBITDA margin expanded by 6 bps to 3.2%. Profit After Tax (PAT) witnessed a substantial growth of 30% YoY, amounting to Rs 57 crore. Earnings per share (EPS) stood at Rs 24.6, marking a notable increase of 28% YoY. Working capital days remained stable at around 30 days. Commenting on the performance, Sukumar Srinivas, Managing Director, Shankara Building Products said: “Despite the challenges faced by the building materials industry in recent times, we're delighted to announce a 22% year-on-year revenue growth during the first nine months of fiscal year 2024. Particularly encouraging is the impressive growth of our non-steel revenues, which have grown by nearly 35% year-on-year. We attribute this success to our proactive strategy of strengthening our value-added product portfolio, including the successful introduction and expansion of our private label in tiles, Fotia Ceramica. Furthermore, our profitability for this quarter has shown a noticeable improvement compared to previous periods, reflecting our focused efforts in bolstering both our value-added steel segment and non-steel business. We remain committed to leveraging our digital presence and are actively exploring opportunities for strategic collaborations in the digital realm to augment our existing omnichannel strategy. Through these initiatives, we aim to revolutionize our ecosystem with technology and innovation. In line with our strategic objectives, we are in the process of demerging our building materials marketplace, which has consistently delivered significant value. This move will streamline our business structure, enabling a more focused capital allocation strategy and heightened emphasis on value-adding avenues under our new generation management. Ultimately, our goal is to unlock substantial value for all stakeholders in the months and years ahead.” Result PDF
Iron & steel products company Shankara Building Products announced Q1FY24 results: Revenue from operations grew by 36% YoY to Rs 1,132 crore Retail revenue grew by 31% YoY to Rs 631 crore EBITDA grew by 30% YoY to Rs 34 crore EBITDA margin expanded by 6 bps to 3.04%, compared to 2.98% in Q4FY23 Net profit increased by 44% YoY to Rs 17 crore Working capital days continue to be sub-30 days during Q1FY24 Earnings per share stood at Rs 7.56 during Q1FY24, compared to Rs 5.26 in Q1FY23 Commenting on the performance, Sukumar Srinivas, Managing Director, Shankara Building Products, said, “The company has announced another quarter of resilient performance. On the back of a positive real estate cycle and an increasing trend of home premiumization, our quarter’s revenue and PAT increased by 36% YoY and 44% YoY respectively. Residential real estate activity is at a decadal high, while commercial real estate activity is making a recovery with a resumption of work from the office. Our growth is a testament of our ability to capitalize on the favourable market conditions. As part of our Shankara 2.0 evolution – the omnichannel marketplace for all building materials, we have strategically aligned our product offerings and our omnichannel presence over the past few quarters. Our consistent endeavour is towards transforming our ecosystem with technology and innovation. As we move forward, we are committed to growing our revenues, while maintaining our profitability and working capital management.” Result PDF
Shankara Building Products announced Q3FY23 results: Q3FY23: The company achieved the highest-ever quarterly revenue of Rs 1,080.44 crore in Q3FY23. 85% revenue growth for Q3FY23 as against Q3FY22. 365% PAT growth for Q3FY23 as against Q3FY22. 26 days net working capital in Q3FY23. Result PDF