Sambhv Steel Tubes Q2 FY27 Results: Consolidated Net Profit ₹60.95 Crore on Total Income of ₹840 Crore
Earnings
steel pipes and tubes
Blacklitt Research3 min read
Darklighter1, via Wikimedia Commons (CC0). Illustrative image.
Sambhv Steel Tubes (NSE: SAMBHV) reported consolidated total income of ₹839.58 crore and net profit of ₹60.95 crore for the quarter ended 30 Sep 2026, it said in a filing on 29 Oct 2026. Standalone total income was ₹840.04 crore and standalone net profit ₹61.29 crore.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹839.58 crore, up 44.4% YoY and 13.9% QoQ
Net profit and EPS: ₹60.95 crore, up 99.2% YoY; basic EPS ₹2.07
Finance costs: ₹10.77 crore, up 30.2% YoY and 1.5% QoQ
Standalone
The company on its own, without its subsidiaries
Total income: ₹840.04 crore, up 44.5% YoY and 14.0% QoQ
Net profit and EPS: ₹61.29 crore, up 104.5% YoY; basic EPS ₹2.08
Finance costs: ₹10.87 crore, up 22.1% YoY and 1.4% QoQ
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
839.58
581.24
+44.4%
736.99
+13.9%
Revenue from operations
835.99
580.17
+44.1%
732.17
+14.2%
Other income
3.60
1.07
+234.8%
4.81
-25.3%
60.95
30.60
+99.2%
56.52
+7.8%
Profit before tax
81.10
40.89
+98.3%
76.86
+5.5%
Finance costs
10.77
8.28
+30.2%
10.62
+1.5%
Depreciation
12.71
12.14
+4.7%
12.48
+1.9%
Tax expense
20.16
10.29
+95.8%
20.34
-0.9%
Net profit margin
7.26%
5.26%
+1.99 pp
7.67%
-0.41 pp
EPS, basic (₹)
2.07
1.04
+99.0%
1.92
+7.8%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit grew faster than total income. Consolidated net profit rose 99.2% YoY to ₹60.95 crore while total income rose 44.4%, and profit before tax rose 98.3% to ₹81.10 crore. Revenue from operations, at ₹835.99 crore, made up almost all of the income, and other income was ₹3.60 crore, or 0.4% of total income.
Other income is small against profit. At ₹3.60 crore it is 4.4% of consolidated profit before tax, so the quarter's profit rests mainly on operating income. Tax of ₹20.16 crore is 24.9% of profit before tax. Finance costs of ₹10.77 crore are 1.3% of total income, up 30.2% on the year-earlier quarter's ₹8.28 crore.
The consolidated results include the holding company and its subsidiary Sambhv Tubes Limited, and the company reports one business segment, steel products. The auditors issued an unmodified review report, saying nothing has come to their attention that causes them to believe the statement contains a material misstatement.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
840.04
581.24
+44.5%
737.12
+14.0%
Revenue from operations
835.99
580.17
+44.1%
732.17
+14.2%
Other income
4.05
1.07
+277.6%
4.95
-18.0%
61.29
29.96
+104.5%
56.61
+8.3%
Profit before tax
81.43
40.26
+102.2%
76.88
+5.9%
Finance costs
10.87
8.91
+22.1%
10.72
+1.4%
Depreciation
12.77
12.16
+5.0%
12.53
+1.9%
Tax expense
20.14
10.30
+95.6%
20.26
-0.6%
Net profit margin
7.30%
5.16%
+2.14 pp
7.68%
-0.38 pp
EPS, basic (₹)
2.08
1.02
+103.9%
1.92
+8.3%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 104.5% YoY to ₹61.29 crore, against total income growth of 44.5%. Standalone profit before tax was ₹81.43 crore, and tax of ₹20.14 crore is 24.7% of it. Standalone other income of ₹4.05 crore is 5.0% of profit before tax.
Standalone finance costs of ₹10.87 crore are 1.3% of total income, against ₹8.91 crore a year earlier. Standalone net profit of ₹61.29 crore is ₹0.34 crore above the consolidated figure of ₹60.95 crore, and standalone total income is ₹0.46 crore above consolidated total income.
The auditors' review report on the standalone results is also unmodified. The filing does not explain the reason for the gap between standalone and consolidated other income and profit before tax.
Inference
The board approved a greenfield stainless steel seamless pipes and tubes facility through its wholly owned subsidiary Sambhv Tubes Limited in Chhattisgarh, with an initial capacity of 14,400 MTPA and an estimated investment of ₹1,480.00 million. The company says it expects completion by March 2028, and the filing says ₹1,000.00 million will come through debt and the balance through internal accruals.
After 30 Sep 2026 the company allotted 86,95,400 fully convertible equity warrants at ₹115.00 each on a preferential basis, with upfront subscription of ₹249.99 million received. Each warrant converts into one ₹10 share within 18 months on payment of the balance. Standalone non-current borrowings rose to ₹4,429.56 million at 30 Sep 2026 from ₹2,258.87 million at 31 Mar 2026. The filing does not say how the warrant proceeds beyond the upfront amount will be used, when the balance will be paid, or which lenders will provide the project debt.
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