SAMBHV STEEL TUBES LIMITEDQ2 revenue ₹840 Cr, EBITDA ₹105 Cr, seamless entry

Sambhv Steel Tubes' Q2 FY27 call, held on 30 October 2026, reported revenue of ₹840 crore, EBITDA of ₹105 crore at a margin above 12%, profit after tax of ₹61 crore and operating cash flow of ₹213 crore, with value-added sales volume up 27%.

EBITDA per ton slipped on monsoon yield loss and weaker stainless steel margins after relaxed import norms and Chinese dumping, but management called Q2 sustainable and raised its FY27 bracket to ₹8,000 to ₹8,500 a ton. The company will enter stainless steel seamless pipes with about ₹148 crore of investment for 14,400 tons a year, live by March 2028, helped by a PLI incentive. A 3.6 lakh ton stainless steel unit with a 25 MW power plant is on track for March 2027, a 30 MW power plant and a pipe mill expansion follow in September 2027, and working capital days fell to 4 to 5.

Net debt to EBITDA is expected to rise to 1.4x to 1.5x as capex peaks, and the company aims at 5.5 lakh tons of volume and EBITDA above ₹550 crore after Kesda starts.