Sambhv Steel Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 26 Aug 2026 | Industrial Products | Market Cap: ₹3.8K Cr
Targeting commercialization of Stage 1 expansion by Q4 next year, with numbers reflecting from Q1 FY’28. For FY26, the company is confident of achieving an operating EBITDA of around INR 260 crores at the enterprise level with a blended EBITDA per ton of approximately INR 7,000.
From Sambhv Steel's Q3 FY26 earnings-call transcript · updated 26 Aug 2026.
Price
₹129
Market Cap
₹3.8K Cr
P/E Ratio
22.9
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Sambhv Steel — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹685 Cr, net profit ₹56 Cr.
Full financials →📊 Revenue & Sales Performance
- →Targeting commercialization of Stage 1 expansion by Q4 next year, with numbers reflecting from Q1 FY’28.
- →Expecting Q4 FY26 blended EBITDA per ton of INR 7,500 and overall FY26 EBITDA per ton around INR 7,000.
- →Projected sales volume for Q4 FY26 between 1 to 1.5 lakh tons (blended).
- →Brownfield and greenfield expansions to significantly increase stainless steel capacity from 1,00,000 to 3,50,000 tons.
- →Growth focus on stainless steel seamless pipes addressing unserved high-diameter imports.
- →Marketing efforts intensifying in West, Central, and North India; proactive expansion planned in Northeast and North regions.
- →Expect upward sales growth driven by value-added product mix and brand building in stainless steel.
- →Capex of around INR 930-940 crores for Stage 1, mainly funded by long-term debt and internal accruals, supporting future volume and revenue growth.
📈 Profitability & Margins
- →For FY26, the company is confident of achieving an operating EBITDA of around INR 260 crores at the enterprise level with a blended EBITDA per ton of approximately INR 7,000.
- →Q4 FY26 is expected to see a further rise with an EBITDA per ton of about INR 7,500, driven by improved raw material costs, increased galvanizing capacity, and higher stainless steel prices due to import duties.
- →Volumes for Q4 FY26 are guided to be around 1 lakh to 1.5 lakh tons, providing growth in topline.
- →From FY27 onwards, significant growth is expected from stainless steel Brownfield expansion and the upcoming Greenfield project phases.
- →The stainless steel seamless pipe segment is targeted for import substitution with high-margin products, indicating future earnings expansion.
- →Expected capex of about INR 700-940 crores over stages aiming to expand capacity and market presence, potentially boosting profitability.
- →The company targets EBITDA margin improvement with better product mix, branding, and cost efficiencies going forward.
🏗️ Capital Expenditure Plans
- →Sambhv Steel Tubes Limited is undertaking a major capex for the Greenfield stainless steel expansion (Stage 1) with an estimated cost of INR 930-940 crores, of which INR 250 crores has been incurred as of December; remaining INR 700 crores planned over next 12 months.
- →Funding for this includes INR 600-650 crores from long-term debt and approximately INR 300 crores from internal accruals.
- →Separate capex will be announced for stainless steel seamless pipe project, potentially as a JV, distinct from Stages 2 and 3.
- →Planning a 25-30 MW captive power plant for Sarora to reduce grid power dependence, with estimated capex of INR 125-150 crores.
- →Received approval under PLI scheme 2.0 for stainless steel product expansion, expected to provide incentives.
- →Brownfield expansions are ongoing for galvanized and stainless steel capacities, with stainless steel capacity ramp-up targeted by Q4 FY27.
💰 Fundraising & Capital Structure
- →For the ongoing capex in Stage 1 (approx. INR 930-940 crores), the company plans to raise around INR 600-650 crores through long-term debt.
- →The balance INR 300 crores for the project will come from internal accruals.
- →The company currently has INR 210 crores in total debt (INR 40 crores term loans and INR 170 crores working capital loans).
- →Regarding seamless pipes (stainless steel seamless), any new capex beyond the already announced amount will be treated as separate capex and announced accordingly.
- →There is no mention of immediate equity fundraising, only plans for additional debt to finance expansions.
📋 Order Book & Pipeline
Key Metrics
Frequently Asked Questions
What were Sambhv Steel Q3 FY26 results?
Targeting commercialization of Stage 1 expansion by Q4 next year, with numbers reflecting from Q1 FY’28. For FY26, the company is confident of achieving an operating EBITDA of around INR 260 crores at the enterprise level with a blended EBITDA per ton of approximately INR 7,000.
What is Sambhv Steel share price analysis?
Sambhv Steel currently shows a neutral. The stock trades at a P/E of 22.9 with a market cap of ₹3,812 Cr. Investors should review the full earnings analysis for detailed insights.
Is Sambhv Steel planning capital expenditure?
Sambhv Steel Tubes Limited is undertaking a major capex for the Greenfield stainless steel expansion (Stage 1) with an estimated cost of INR 930-940 crores, of which INR 250 crores has been incurred as of December; remaining INR 700 crores planned over next 12 months.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.