Sambhv Steel Tubes Limited · NSE:SAMBHV
Sambhv Steel Tubes — Q3 FY2026 Earnings Presentation
44 slides from Sambhv Steel Tubes's earnings presentation, Jan 31, 2026
Slide 1: Stock exchange disclosure cover letter
January 31, 2026 To, To, Listing Compliance Department Listing Compliance Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra Kurla Complex, P J Towers, Dalal Street, Bandra (East), Mumbai– 400051 Mumbai - 400 001 Symbol: SAMBHV Scrip Code: 544430 Dear Sir/Madam, S
Slide 2: Q3 & 9MFY26 Investor Presentation
SAMBHV STEEL TUBES LIMITED Q3 & 9MFY26 Investor Presentation, January 2026
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by Sambhv Steel Tubes Limited (the “Company”) solely for the information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and sha
Slide 4: Table Of Contents
Table Of Contents Q3 & 9MFY26 Performance Highlights 01 Business Overview 02 Diversified Product Portfolio 03 Key Investment Thesis 04 Future Outlook 05
Slide 5: Management Commentary
Management Commentary “Sambhv Steel Tubes Limited has delivered its strongest 9MFY26 results, with revenue, EBITDA, and PAT in growing by 70%, 73%, and 110% respectively, reflecting robust operational and financial progress. Recognized as a single-location backward-integrated producer of structural
Slide 6: Q3 & 9MFY26 Performance Highlights
Q3 & 9MFY26 Performance Highlights
Slide 7: Q3FY26 Quarterly Strategic Updates
Q3FY26 Quarterly Strategic Updates Further improvement in capacity Kesda Plant Update – Environment utilization in the Stainless Steel Clearance has been received and division, along with major progress Project execution has started in the brownfield capacity expansion from 58,000 MTPA to 116,000 MT
Slide 8: Q3FY26 at a Glance
Q3FY26 at a Glance Key Financial Highlights INR 5,891 Mn INR 526 Mn INR 511 Mn INR 241 Mn INR 5,425 Revenue Total EBITDA^ EBITDA PAT EBITDA /T (Excl. Sponge Iron) INR 5,245 INR 444 Mn 1.07x 12.85% 35 Days EBITDA / T Cash Flow from Operations** Debt / EBITDA* ROCE* Working Capital Cycle* Key Operatio
Slide 9: 9MFY26 at a Glance
9MFY26 at a Glance Key Financial Highlights INR 17,279 Mn INR 1,874 Mn INR 1,841 Mn INR 875 Mn INR 6,803 Revenue Total EBITDA^ EBITDA PAT EBITDA /T (Excl. Sponge Iron) INR 6,371 INR 609 Mn 0.89x 16.03% 36 Days EBITDA / T Cash Flow from Operations* Debt / EBITDA* ROCE* Working Capital Cycle* Key Oper
Slide 10: Master Plan for Greenfield Expansion in Phases
Master Plan for Greenfield Expansion in Phases 9
Slide 11: From Ground to Structure: On-Site Execution Progress
From Ground to Structure: On-Site Execution Progress Exceptional Progress achieved within just 2 months of breaking ground Captive Power Plant – 25MW SMS, Hot Rolling Mill and HRAP Line 10 Note – The above images were clicked on 25th Jan 2026
Slide 12: From Plan to Progress: Execution Schedule and Status
From Plan to Progress: Execution Schedule and Status Target Target Division Work Description Current Status Division Work Description Current Status Timeline Timeline Construction of Site Office & Labour Quarter Completed Key Machineries Ordering Q4FY26 ~90% Completed Q3FY26 Civil Work for Technolog
Slide 13: 9MFY26 Financial Highlights
9MFY26 Financial Highlights Revenue (INR Mn) Gross Profit (INR Mn) & Margin (%) 70% 28.17% 5,000 35.00% 4,500 30.46% 30.00% 4,000 3,500 25.00% 3,000 20.00% 2,500 4,867 17,279 2,000 15.00% 1,500 3,095 10.00% 10,161 1,000 500 5.00% - 0.00% 9MFY25 9MFY26 9MFY25 9MFY26 Gross Profit Margin EBITDA (INR Mn
Slide 14: Q3FY26 Financial Highlights
Q3FY26 Financial Highlights Revenue (INR Million) Gross Profit (INR Mn) & Margin (%) 60% Gross Profit Gross Profit Margin 2,000 27.87% 26.80% 35.00% 30.98% 1,617 25.00% 5,802 5,891 1,143 1,579 3,690 15.00% 200 5.00% Q3FY25 Q2FY26 Q3FY26 Q3FY25 Q2FY26 Q3FY26 EBITDA (INR Million) & Margin (%) PAT (INR
Slide 15: Detailed Income Statement
Detailed Income Statement Particulars (Rs. Mn) Q3FY26 Q3FY25 Q2FY26 YoY QoQ 9MFY26 9MFY25 YoY Net Revenue from Operations 5,891 3,690 5,802 60% 2% 17,279 10,161 70% Total Expenditure 5,380 3,310 5,199 63% 3% 9,097 70% 15,438 EBITDA 511 380 603 34% -15% 1,841 1,064 73% EBITDA Margin (%) 8.68% 10.30%
Slide 16: H1FY26 Balance Sheet
H1FY26 Balance Sheet ASSETS (Rs.in Mn) H1-FY26 FY25 EQUITY AND LIABILITIES (Rs. In Mn) H1-FY26 FY25 Fixed Assets 6,959 7,150 Share Capital 2,947 2,410 Work-In-Progress 1,128 857 Other Equity 6,826 2,550 Goodwill Total Equity 9,772 4,960 Intangible Assets Financial Liabilities Financial Assets i) Bor
Slide 17: Business Overview
fl Business [yey Overview
Slide 18: FY25 at a Glance
FY25 at a Glance Key Financial Highlights (FY25) INR 15,114 Mn INR 1,611 Mn INR 1,546 Mn INR 580 Mn INR 5,624 Revenue Total EBITDA* EBITDA PAT EBITDA /T (Excl. Sponge Iron) INR 5,321 INR 1,274 Mn 3.5x 18 Days 11.9% EBITDA / T Cash Flow from Operations Debt / EBITDA Working Capital Cycle ROCE Key Ope
Slide 19: Key Milestones
Key Milestones FY18 FY19 FY20 FY22 FY23 FY24 FY25 FY26 Commenced Expanded the capacity of Commissioned Increased the capacity of sponge iron to 280,000 MTPA, operation with the 15MW power plant Sponge iron to 105,000 HR coils to 390,000 MTPA, ERW manufacturing of (6 MW WHRB + 9 MW MTPA, blooms/slabs
Slide 20: Detailed Manufacturing Process Flow
Detailed Manufacturing Process Flow Backward Integrated Steel & Pipes Manufacturing facility 19
Slide 21: Diversified Product Portfolio
Diversified Product Portfolio
Slide 22: Diversified product portfolio across the ERW black pipe value chain (1/3)
Diversified product portfolio across the ERW black pipe value chain (1/3) ERW Black Pipes & Tubes Capability to produce ERW pipes & tubes with thickness of 1.20mm to 5.00mm from in-house HR Coils available in following configuration: (i) square section from 15mm x 15mm to 113mm x 113 mm (ii) rectang
Slide 23: Diversified product portfolio across pre-galvanised pipe value chain (2/3)
Diversified product portfolio across pre-galvanised pipe value chain (2/3) GP Coils and Pre-Galvanized (GP) Pipes & tubes Sponge Iron Bloom/Slabs Narrow Width HR Cold Rolled (CR) Pre-Galvanized Pre-Galvanized (GP) (Mild Steel) Coils (Mild Steel) Coils (GP) Coils Pipes Refined form Semi-finished Defo
Slide 24: Diversified product portfolio across the stainless steel value chain (3/3)
Diversified product portfolio across the stainless steel value chain (3/3) Stainless Steel Blooms/Slabs Narrow Width HR Coils Stainless Steel Stainless Steel (Stainless Steel) (Stainless Steel) HRAP Coils CR Coils Semi-finished steel Deforming blooms/ slabs Manufactured by Manufactured by cold produ
Slide 25: Key Investment Thesis
Key Investment Thesis
Slide 26: Key Strengths
Key Strengths Single Location Backward Integrated Facility For Manufacturing ERW Steel Pipes & Tubes Track Record Of Healthy Financial Strategically Located Manufacturing Plants Performance Resulting In Operational Efficiencies 1 7 2 6 3 Strong Process Innovation And Execution Experienced Promoters
Slide 27: Single location backward integrated facility for ERW steel pipes
1A Single location backward integrated facility for ERW steel pipes Integrated manufacturing facility located in Sarora (Raipur) Presence across the value chain Forward Integration Sponge Blooms / HR Pre- ERW/GI Pre- Power CR Pipes Galvanized over the Iron Slabs Coils Coils Galvanized (MS* & SS #) (
Slide 28: Increased capacity of value added finished products over years
1B Increased capacity of value added finished products over years Installed Capacity (MTPA) Capacity Utilization Particulars Dec 31 2025 March 31, 2025 March 31, 2024 March 31, 2023 March 31, 2022 March 31, 2025 March 31, 2024 March 31, 2023 March 31, 2022 Sponge Iron 2,80,000 2,80,000 1,05,000 1,05
Slide 29: Strategically located manufacturing plants resulting in operational efficiencies
2 Strategically located manufacturing plants resulting in operational efficiencies Chhattisgarh Maharatna (PSU) 250 km from Sarora, Coal Mines subsidiary of largest coal producer in India. Long term supply agreements in place Kesda Land Area = 4,09,920 Sq. Mtr. Sarora Facility (spread across 372,780
Slide 30: Strong process innovation & execution allowing to produce value-added products
3A Strong process innovation & execution allowing to produce value-added products Secondary route for manufacturing HR Coil Manufacture of Stainless Steel through AOD process • Producing HR coils through a secondary manufacturing route, • Scrap/virgin raw materials melted, decarburized & refined in
Slide 31: Wide-spread well connected distribution network across India
4 Wide-spread well connected distribution network across India Increasing distribution network across the country FY23 FY24 FY25 2 2 1 1 1 1 1 1 1 1 1 1 8 1 9 1 4 1 4 2 5 2 1 1 1 1 1 6 8 10 2 2 2 1 2 3 2 3 2 1 1 1 39 Distributors 43 Distributors 20 Distributors 600+ Dealers 700+ Dealers The company
Slide 32: Well-positioned to take advantage of growing demand for ERW steel pipes & tubes
5 Well-positioned to take advantage of growing demand for ERW steel pipes & tubes Global steel demand is primarily led by China & India, further room to increase per capita consumption in India at par with global economies Global Steel Demand (MMTPA) Global per capita steel consumption (CY23) - Kg I
Slide 33: Experienced promoters and management team with vast experience
6A Experienced promoters and management team with vast experience Suresh Kumar Goyal, Chairman & Executive Director Brijlal Goyal, Promoter • 20+ years of experience in steel manufacturing, a veteran in • 35+ years of experience in steel and plastics manufacturing. industry • Played a pivotal role i
Slide 34: Experienced promoters and management team with vast experience
6B Experienced promoters and management team with vast experience Backed by an Experienced set of Independent Directors Manoj Khetan, Independent Director Nidhi Thakkar, Independent Director • Holds a bachelor's degree in commerce from the • Holds a bachelor's degree in chemical engineering from Pt.
Slide 35: Track record of healthy financial performance
7A Track record of healthy financial performance Revenue (INR Million) Gross Profit (INR Million) CAGR: 23% CAGR: 31% 15,114 5,000 Gross profit Gross Profit Margin 4,469 100.0% 12,858 4,000 3,656 80.0% 9,372 8,193 3,000 2,405 60.0% 1,995 2,000 29.57% 40.0% 1,000 20.0% 24.35% 25.66% 28.43% - 0.0% FY2
Slide 36: Track record of healthy financial performance
7B Track record of healthy financial performance Sales Volume (MTPA)* Finished Goods Sales Segmentation FY25 (By Value) Structural Pipes and Tubes Pre-Galvanised (GP) Coils and Pipes Stainless Steel Coils Intermediate Products 14% Intermediate Products 2,90,393 3% 2,23,262 55,565 5% Others 9,745 1,5
Slide 37: Track record of healthy financial performance
7C Track record of healthy financial performance Working Capital Cycle^ (Days) Return Ratios (%) 57 ROCE ROE 64 47 41 34 29 25 18 20 18 12 12 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 Debt Metrics Cash Flow from Operations to EBITDA Ratio Debt/Equity Debt/EBITDA Interest Coverage Ratio 6.1 0.89 0.82 4
Slide 38: Annual Income Statement
7D Annual Income Statement Particulars (Rs. Mn) FY25 FY24 FY23 FY22 Net Revenue from Operations 15,114 12,858 9,372 8,193 Revenue CAGR Total Expenditure 13,567 11,259 8,200 6,948 23% FY22-FY25 EBITDA 1,547 1,599 1,172 1,245 EBITDA Margin (%) 10.23% 12.43% 12.52% 15.20% Other Income 65 36 18 14 Depre
Slide 39: Annual Balance Sheet
7E Annual Balance Sheet Assets (Rs.in Mn) FY25 FY24 FY23 FY22 EQUITY AND LIABILITIES FY25 FY24 FY23 FY22 (Rs. In Mn) Fixed Assets 7,150 3,367 2,940 2,353 Share Capital 2,410 2,410 201 201 Work-In-Progress 857 2,156 215 167 Other Equity 2,550 1,973 1,903 1,292 Goodwill Total Equity 4,960 4,383 2,104
Slide 40: Annual Cash Flow Statement
7E Annual Cash Flow Statement March March March March March March March March For the year ended (INR Million) For the year ended (INR Million) 31, 2025 31, 2024 31, 2023 31, 2022 31, 2025 31, 2024 31, 2023 31, 2022 A. Cash flow from operating activities B. Cash flow from investing activities Profit
Slide 41: Future Outlook
Future Outlook
Slide 42: Key strategies (1/2)
Key strategies (1/2) Capacity Expansion Increase Distribution Network Value Added Products and Customization Commissioned Kuthrel facility in FY25 with focus on GP Expand reach to other States while increasing the Continue to develop new value added products and Coils, GP Pipes, stainless steel HRAP
Slide 43: Key strategies (2/2)
Key strategies (2/2) Cost Optimisation Brand Building Continue to implement branding initiatives including Machining capabilities, automation of processes, impactful advertisements across electronic media, adherence to high quality standards help in achieving outdoor branding, digital platforms, & p
Slide 44: Company Contact - Investor Relations
Company Contact - cs@sambhv.com; camayank@sambhv.com Sana Kapoor Sakshi Narvekar Go India Advisors Go India Advisors Investor Relations sana@GoIndiaAdvisors.com sakshiN@GoIndiaAdvisors.com M:+91 81465 50469 M:+91 87792 63625