Shankara Building Products Q2 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹286 Cr
- P/E
- 54.92
- ROE
- 0.71%
- PEG
- -0.96
- Price to sales
- 0.22
- Debt to equity
- 0.43
- 52W high / low
- ₹150 / ₹100.0
- Sales growth (5Y)
- -7.72%
- EBITDA margin
- 1.70%
- Net profit margin
- 0.34%
- Promoter holding
- 49.52%
- Sales (last year)
- ₹1,391 Cr
Shankara Building Products Ltd incorporated in 1995 is engaged in the manufacturing and processing of precision steel tubes, cold rolled strips, roofing profiles,and accessories. [1][2]
Guidance scorecard · Q2 FY26 call
What Shankara Building Products Ltd's management guided
and where it ranks in Retailing
Retailing
RevenueQ2 FY26 call
10–20%- Marketplace (Shankara Buildpro) revenue growth target: 15% to 20% for FY '27.
- Manufacturing business revenue growth target: approximately 10% for FY '27.
- Steel volume growth sustained at around 28% to 30% in the marketplace business; trucks pipes and tubes segment growing about 30%.
- Non-steel business aiming for sustained 10% growth in the second half of the current fiscal year.
- Expansion plans include increasing retail stores by about 5 and fulfillment centers by around 3 in FY '27.
- Non-steel segment expected to increase its share toward 20% of total revenue over the next 2 to 3 years (FY30 target).
- Capacity utilization in manufacturing to rise from sub-50% to 60-65%, driving margin and volume growth.
2 more points from Shankara Building Products Ltd's call on revenue
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MarginsQ2 FY26 call
Up 0–2%See what Shankara Building Products Ltd said on margins — free account, 30 seconds.
CapexQ2 FY26 call
Planned- Planned CapEx for FY '27: INR 10 to 15 crores.
- Focus on improving capacity utilization from sub-50% to 60-65% to drive margins.
- Strategic focus on niche and value-added products in manufacturing.
2 more points from Shankara Building Products Ltd's call on capex
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FundraisingQ2 FY26 call
See what Shankara Building Products Ltd said on fundraising — free account, 30 seconds.
Order bookQ2 FY26 call
- The acceptance (orderbook) in Shankara Buildpro's retail business for Q2 is approximately INR 300 crores.
- The company is focusing on growth in both steel and non-steel businesses, with working capital cycles of 25 days for steel and around 45 days for non-steel.
- The orderbook in retail signifies active pending orders contributing to the company's working capital and revenue growth.
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Retailing
on management's own guidance
- Strong growth2
- Strong growth1
- Entero Healthcare Solutions LtdGood growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Retailing companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Flat | ₹6,264 Cr | 38.2 | |
| 2 | 40%+ | Flat | ₹6,053 Cr | 53.9 | |
| 3 | Entero Healthcare Solutions Ltd | 20–40% | Up 0–2% | ₹6,899 Cr | 53.5 |
| 4 | 20–40% | Up 0–2% | ₹790 Cr | 19.0 | |
| 5 | 20–40% | Flat | ₹3.14L Cr | 725.0 | |
| 6 | 20–40% | Flat | ₹1.12L Cr | 170.8 |
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Pro shows every company guiding 40%+ revenue growth →Full Retailing rankingFinancials of Shankara Building Products Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Shankara Building Products Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,210.02 | 1,132.13 | 1,142.49 | 1,177.27 | 1,376.55 | 1,290.97 | 337.29 | 1,437.16 | 1,639.16 | 323.20 | 279.91 | 420.40 | 340.50 |
| Expenses + | 1,174.14 | 1,098.13 | 1,106.82 | 1,138.82 | 1,333.56 | 1,250.25 | 332.52 | 1,396.94 | 1,587.76 | 317.31 | 280.49 | 415.41 | 327.32 |
| Operating Profit | 35.88 | 34.00 | 35.67 | 38.45 | 42.99 | 40.72 | 4.77 | 40.22 | 51.40 | 5.89 | -0.58 | 4.99 | 13.18 |
| OPM % | 2.97% | 3.00% | 3.12% | 3.27% | 3.12% | 3.15% | 1.41% | 2.80% | 3.14% | 1.82% | -0.21% | 1.19% | 3.87% |
| Other Income + | 0.85 | 0.46 | 0.58 | 1.79 | 2.41 | 0.53 | 1.16 | 0.63 | 1.10 | 0.36 | 0.13 | 2.48 | 3.40 |
| Interest | 6.57 | 7.40 | 7.76 | 7.92 | 9.26 | 15.51 | 1.87 | 12.16 | 11.63 | 3.03 | 3.42 | 3.47 | 3.89 |
| Depreciation | 4.22 | 3.89 | 4.02 | 4.03 | 3.97 | 4.20 | 2.17 | 4.18 | 4.06 | 2.04 | 2.05 | 2.10 | 2.03 |
| Profit before tax | 25.94 | 23.17 | 24.47 | 28.29 | 32.17 | 21.54 | 1.89 | 24.51 | 36.81 | 1.18 | -5.92 | 1.90 | 10.66 |
| Tax % | 26.21% | 25.42% | 25.58% | 24.28% | 24.71% | 25.49% | 54.50% | 27.83% | 22.71% | 64.41% | -12.84% | 35.26% | 31.05% |
| Net Profit + | 19.14 | 17.28 | 18.21 | 21.42 | 24.22 | 16.05 | 0.86 | 17.69 | 28.45 | 0.42 | -5.16 | 1.23 | 7.35 |
| EPS in Rs | 8.39 | 7.58 | 7.99 | 8.85 | 10.01 | 6.63 | 0.36 | 7.31 | 11.76 | 0.17 | -2.13 | 0.51 | 3.04 |
Financials of Shankara Building Products Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,979 | 2,036 | 2,310 | 2,549 | 2,546 | 2,640 | 2,038 | 2,418 | 4,030 | 4,828 | 5,697 | 1,364 |
| Expenses + | 1,889 | 1,916 | 2,159 | 2,373 | 2,447 | 2,525 | 1,967 | 2,333 | 3,912 | 4,677 | 5,528 | 1,341 |
| Operating Profit | 90 | 120 | 152 | 175 | 99 | 115 | 71 | 85 | 118 | 151 | 169 | 23 |
| OPM % | 5% | 6% | 7% | 7% | 4% | 4% | 4% | 4% | 3% | 3% | 3% | 2% |
| Other Income + | 1 | 1 | 1 | 1 | 9 | 5 | 6 | 3 | 8 | 5 | 3 | 6 |
| Interest | 47 | 46 | 51 | 46 | 47 | 43 | 33 | 24 | 25 | 32 | 52 | 14 |
| Depreciation | 9 | 10 | 11 | 14 | 15 | 25 | 24 | 17 | 16 | 16 | 17 | 8 |
| Profit before tax | 35 | 65 | 90 | 116 | 46 | 51 | 20 | 46 | 84 | 108 | 103 | 8 |
| Tax % | 35% | 37% | 35% | 36% | 29% | 22% | 31% | 25% | 25% | 25% | 25% | 51% |
| Net Profit + | 23 | 41 | 59 | 74 | 33 | 40 | 14 | 34 | 63 | 81 | 77 | 4 |
| EPS in Rs | 10.31 | 18.60 | 25.78 | 32.36 | 14.36 | 17.49 | 6.07 | 15.05 | 27.65 | 33.52 | 31.98 | 1.59 |
| Dividend Payout % | 10% | 8% | 11% | 10% | 10% | 11% | 0% | 7% | 9% | 9% | 9% | 0% |
Financials of Shankara Building Products Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 22 | 22 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 24 | 24 | 24 |
| Reserves | 231 | 269 | 367 | 433 | 456 | 485 | 499 | 533 | 620 | 773 | 844 | 423 |
| Borrowings + | 293 | 223 | 223 | 248 | 197 | 278 | 169 | 133 | 88 | 87 | 104 | 192 |
| Other Liabilities + | 179 | 285 | 329 | 509 | 435 | 389 | 235 | 352 | 561 | 701 | 830 | 117 |
| Total Liabilities | 725 | 799 | 942 | 1,213 | 1,112 | 1,175 | 926 | 1,041 | 1,292 | 1,586 | 1,802 | 757 |
| Fixed Assets + | 205 | 233 | 259 | 297 | 253 | 282 | 256 | 258 | 281 | 293 | 297 | 290 |
| CWIP | 0 | 0 | 0 | 0 | 4 | 0 | 2 | 2 | 4 | 3 | 6 | 23 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 521 | 566 | 683 | 916 | 855 | 892 | 667 | 781 | 1,007 | 1,290 | 1,498 | 444 |
| Total Assets | 725 | 799 | 942 | 1,213 | 1,112 | 1,175 | 926 | 1,041 | 1,292 | 1,586 | 1,802 | 757 |
Financials of Shankara Building Products Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 80 | 159 | 106 | 40 | 171 | -30 | 133 | 70 | 92 | 10 | 64 | -101 |
| Cash from Investing Activity + | -40 | -38 | -37 | -74 | -48 | 55 | -8 | -18 | -45 | -27 | -26 | -63 |
| Cash from Financing Activity + | -40 | -122 | -69 | 34 | -115 | -21 | -128 | -60 | -43 | 40 | -42 | 124 |
| Net Cash Flow | -0 | 0 | 0 | -1 | 8 | 4 | -3 | -8 | 3 | 22 | -5 | -40 |
| Free Cash Flow | 40 | 121 | 69 | 1 | 125 | 23 | 121 | 51 | 48 | -18 | 37 | -163 |
| CFO/OP | 96% | 143% | 85% | 51% | 191% | -11% | 192% | 94% | 91% | 23% | 53% | -421% |
Financials of Shankara Building Products Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 48 | 50 | 49 | 61 | 48 | 59 | 53 | 53 | 46 | 52 | 51 | 25 |
| Inventory Days | 48 | 53 | 52 | 69 | 60 | 61 | 61 | 61 | 41 | 39 | 39 | 70 |
| Days Payable | 29 | 48 | 48 | 76 | 60 | 55 | 40 | 52 | 50 | 52 | 53 | 27 |
| Cash Conversion Cycle | 67 | 55 | 52 | 53 | 48 | 65 | 74 | 62 | 37 | 39 | 37 | 69 |
| Working Capital Days | 62 | 11 | 11 | 21 | 20 | 32 | 52 | 49 | 34 | 36 | 34 | 35 |
| ROCE % | 15% | 21% | 25% | 25% | 13% | 13% | 7% | 10% | 15% | 17% | 17% | 3% |
Guidance history
How Shankara Building Products Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q2 FY26 call → | 10–20% | Up 0–2% | Planned | — | — |
| Q1 FY26 call → | 20–40% | Flat | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Continue your research
What Shankara Building Products Ltd's management said in earlier quarters
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