Godawari Power & Ispat Ltd. · NSE:GPIL
Godawari Power & Ispat — Q3 FY26 Earnings Presentation
44 slides from Godawari Power & Ispat's earnings presentation, Feb 6, 2026
Slide 1: Exchange filing cover letter
LEEfi rm qS iFT Hiirm tl dr ullEL GODAWARI POWER & lspAT REF: GPILINSE & BSE/2026/6208 Date: 06.02.2026 To I. The Listing Department, 2. The corporate Relation Department, The National stock Exchange of India Ltd, The BSE Limited, Exchange plaza, Bandra Kurla complex, First Floor, Rotunda Building,
Slide 2: Igniting Next Phase of Growth
G O DAWA R I P OW E R & I S PAT LT D. Igniting Next Phase of Growth Investor Presentation Q3 & 9MFY26
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by Godawari Power and Ispat Limited (the “Company”) solely for the information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, a
Slide 4: Business at a Glance
Business at a Glance 1 25+ years of Industry experience, incorporated in 1999 Engaged in Integrated Steel business with backward integration of 2 2 captive iron ore mines & Captive Power Generation 10% 14% 36% Comprehensive product portfolio spanning the entire value chain— Revenue CAGR EBITDA CAGR
Slide 5: Business Model Simplified
Business Model Simplified Finished Products - Aligned with New Initiatives - To Be Strong Foundation India’s Infrastructure Goals Future Ready Iron Ore Iron Ore Structural Steel Galvanized Non Ferrous Metal Recycling Mining Pellets Products Fabricated Products Significant Competitive Advantage- o Co
Slide 6: Q3 & 9MFY26 Management Commentary
Q3 & 9MFY26 Management Commentary “I am pleased to share that 9MFY26 reflected steady performance with revenues remaining resilient and EBITDA and PAT margins at 22% and 14%, respectively, despite softer realizations. During the period, we made meaningful progress on key strategic initiatives, inclu
Slide 7: Q3 FY26 Performance Highlights
Q3 FY26 Performance Highlights Consolidated Financial Performance Performance Highlights Revenue (Rs. Cr.) Operating EBITDA (Rs. Cr.) o EBIDTA margins improved to 20% on YoY basis, despite fall in 1,308 1,298 sales revenue. Fall in revenue during the quarter was mainly on 1,139 account lower Pellet
Slide 8: 9MFY26 Performance Highlights
9MFY26 Performance Highlights Consolidated Financial Performance Performance Highlights Revenue (Rs. Cr.) Operating EBITDA (Rs. Cr.) 3,908 o Fall in Revenue, was account of lower realizations (average 7- 3,770 814 875 8%) were offset by higher production and sales of pellets, galvanized fabricated p
Slide 9: Q3 & 9MFY26 Key Strategic Updates
Q3 & 9MFY26 Key Strategic Updates Commissioned Iron Ore Pellet Plant of 2.00 MnT capacity and started commercial operations from 01 Dec’25 onwards, taking total capacity of Pellet Plant up to 4.7MnT from 2.7MnT. Inaugural Production Launch of 2MnT Pellet Plant by Shri. Abhishek Agrawal - ED on 8/12/
Slide 10: Investment Thesis
Investment Thesis Captive iron ore mines with 165 MnT reserves and 35+ years life; Capacity slated to Increase from 3.05 to 6.7 Million tons per annum during the current quarter. Produces High-Grade Pellets commanding a premium of Rs. 1,000–1,500 per Ton above market rates Net Cash Balance Sheet and
Slide 11: Capex Plan - Igniting Next Phase of Growth
Capex Plan - Igniting Next Phase of Growth Existing Proposed Total Capacity Capex ( Approx. in Rs Cr ) Project Expected Capacity Capacity After Project Cost Balance to be Current Status Particulars Completion ( MnT) Expansion (MnT) Expansion Cost Incurred Incurred Environment Clearance Received. Con
Slide 12: Energy Efficiency & Decarbonisation Project at a Glance (1/2)
Energy Efficiency & Decarbonisation Project at a Glance (1/2) Description of the Project Potential Status as on 31-Dec-25 Project Power Generation from Waste Gases PROJECT 1 7 MW Expected to be commissioned in March-26. from Pellet Cooler & Ferro Alloys. Enhancing the COMPLETED - TARGET ACHIEVED PRO
Slide 13: Energy Efficiency & Decarbonisation Project at a Glance (2/2)
Energy Efficiency & Decarbonisation Project at a Glance (2/2) DRI-Kiln-02 Average Production per Day (Tons) DRI-Kiln-02 Average Steam Generation (Tons) 12
Slide 14: Emerging Opportunities
Emerging Opportunities Godawari New Energy Private Limited Jammu Pigments Ltd. Will focus on recycling of GPIL has acquired 43.96% stake in non-ferrous metals Jammu Pigments Ltd; balance is with Will focus on the Mr. Ramesh Kumar Agarwal & Others Battery Energy The Company is 100% storage (BESS) sec
Slide 15: FY26 Guidance – Status Check
FY26 Guidance – Status Check Iron Ore Mining Iron Ore Pellets Sponge Iron Steel Billets Rolled Products Ferro Alloys FY26 3.0 MnT 3.0 MnT 0.594 MnT 0.5 MnT 0.375 MnT 91,500 T Guidance 9MFY26 Performance 2.08 MnT 1.94 MnT 0.49 MnT 0.35 MnT 0.305 MnT 72,117 T % Achieved 69% 65% 83% 71% 81% 79% 14
Slide 16: Captive Mining Provides Competitive Edge
Captive Mining Provides Competitive Edge 7,300 6,800 6,200 6,350 6215 6,340 5,500 5680 4,346 4,270 3,000 3,000 3,000 2960 2940 2840 2,800 2,800 2,310 2,462 2,375 2,181 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Q1FY26 Q2FY26 Q3FY26 Market Price of Iron Ore Captive Ore Landed Cost Note – Prices are indi
Slide 17: Detailed Production Summary
Detailed Production Summary Description of Goods M.T./ KWH Q3FY26 Q2FY26 QoQ (%) Q3FY25 YoY (%) 9MFY26 9MFY25 YoY (%) Iron ore Mining M.T.s 7,89,787 6,48,614 22% 5,41,509 46% 20,80,644 16,33,137 27% Iron ore Pellets M.T.s 6,03,350 6,67,200 -10% 6,10,800 -1% 19,44,300 17,70,700 10% Sponge Iron M.T.s
Slide 18: Detailed Sales Volume Summary
Detailed Sales Volume Summary Description of Goods M.T./ KWH Q3FY26 Q2FY26 QoQ (%) Q3FY25 YoY (%) 9MFY26 9MFY25 YoY (%) Iron Ore Pellet M.T.s 2,72,310 4,42,758 -38% 3,09,274 -12% 11,81,643 10,09,716 17% Sponge Iron M.T.s 31,158 41,845 -26% 6,387 388% 85,832 72,758 18% Steel Billets M.T.s 45,055 38,6
Slide 19: Detailed Realization Summary
Detailed Realization Summary (Ex plant realization excluding export freight and expenses) Description of Goods M.T./ KWH Q3FY26 Q2FY26 QoQ (%) Q3FY25 YoY (%) 9MFY26 9MFY25 YoY (%) Iron Ore Pellet INR/M.T.s 9,855 9,364 5% 9,974 -1% 9,660 10,387 -7% Sponge Iron INR/M.T.s 25,888 25,571 1% 29,403 -12% 2
Slide 20: GPIL Consolidated - Profit & Loss
GPIL Consolidated - Profit & Loss Particulars (Rs. Crores) Q3FY26 Q2FY26 QoQ% Q3FY25 YoY% 9MFY26 9MFY25 YoY% Net Sales 1,139 1,308 -13% 1,298 -12% 3,770 3,908 -4% Total Expenses 910 1,048 -13% 1,076 -15% 2,956 3,032 -3% Other Income 27 19 38% 18 46% 69 71 -3% EBIDTA 230 260 -12% 221 4% 814 875 -7% E
Slide 21: GPIL Standalone Profit and Loss
GPIL Standalone Profit and Loss Particulars (Rs. Crores) Q3FY26 Q2FY26 QoQ% Q3FY25 YoY% 9MFY26 9MFY25 YoY% Net Sales 1,001 1,143 -12% 1,095 -9% 3,278 3,386 -3% Total Expenses 787 898 -12% 895 -12% 2,521 2,564 -2% Other Income 26 115 -77% 23 16% 166 75 122% EBIDTA 215 244 -12% 201 7% 757 822 -8% EBID
Slide 22: GPIL – Consolidated Balance Sheet
GPIL – Consolidated Balance Sheet Particulars (Rs. Crores) 30.09.2025 31.03.2025 Particulars (Rs. Crores) 30.09.2025 31.03.2025 ASSETS EQUITY AND LIABILITIES Non Current assets EQUITY (a) Property, Plant and Equipment 2,642 2,644 (a) Equity share capital 61 61 (b) Capital work-in-progress 652 430 (b
Slide 23: GPIL – Standalone Balance Sheet
GPIL – Standalone Balance Sheet Particulars (Rs. Crores) 30.09.2025 31.03.2025 Particulars (Rs. Crores) 30.09.2025 31.03.2025 ASSETS EQUITY AND LIABILITIES Non Current assets EQUITY (a) Property, Plant and Equipment 2,204 2,217 (a) Equity share capital 65 65 (b) Capital work-in-progress 525 332 (b)
Slide 24: Unique Presence Across Steel Value Chain
Unique Presence Across Steel Value Chain Asset Capacity FY25 Utilization (%) Asset Capacity FY25 Utilization (%) Iron Ore MS Mining 3.05 MT 0.4 MT 56% 77% Rounds Iron Ore HB 2.7 MT Pellets 91% Wires 0.10 MT 100% 92% Sponge Ferro Iron 0.594 MT 93% Alloys 91,500T 100% 100% Power Steel 0.525 MT 75% (In
Slide 25: Large Portfolio of Long-life Assets
Large Portfolio of Long-life Assets JPL Plant Boria Tibu Iron ore Bemetara, Chhattisgarh Lead 126,198 MTPA captive mine 52MW HFAL Solar Power Plant Zinc 29,431 MTPA Chhattisgarh: 0.7 mn Siltara Integrated Plant Copper 4,981 MTPA MTPA Chhattisgarh Cadmium 8,400 MTPA 3.3 mn MTPA Iron Ore Beneficiation
Slide 26: Simplified Group Structure
Simplified Group Structure GPIL Godawari Power and Ispat Limited Associates Subsidiaries Joint Ventures 37.85% Ardent Steel Private Limited * 100% Alok Ferro Alloys Limited (AFAL) 33.30% Raipur Infrastructure Company Limited Jammu Pigments Limited 100% Godawari Energy Limited** 43.96% (JPL) Chhattis
Slide 27: International & Domestic Tailwinds
International & Domestic Tailwinds International Market Domestic Market Global iron ore prices have remained within a range of $95 to $110 per ton so far this year, Iron ore prices (NMDC – Fines 64Fe) have been range bound currently hovering around $102/t. The first half of except seasonal variation
Slide 28: Sustainability at the Core
Sustainability at the Core
Slide 29: Carbon Footprint Reduction: Strategies for Greener Future
Carbon Footprint Reduction: Strategies for Greener Future Decarbonisation Initiatives Features & Benefits of Decarbonisation Strategies Projects Current Status Output Focusing on energy-efficient, R&D projects GPIL & Siemens Energy signed MoU to 11MW of execute the waste heat recovery project. It ad
Slide 30: CO2 Emissions Per Ton of Steel
CO2 Emissions Per Ton of Steel CARBON BORDER ADJUSTMENT MECHANISM WORLD STEEL ASSOCIATION (WSA) (CBAM) (ISO 14064 STANDARD) Calculation based on Total Carbon Basis Calculation based on Fixed Carbon Basis FY 25-26 tco2 / Ton of Steel FY 25-26 tco2 / Ton of Steel Q1 3.319 Q1 2.475 Q2 3.391 Q2 2.588 Q3
Slide 31: Iron Ore Pelletization Plant – Iron Ore Tailing
Iron Ore Pelletization Plant – Iron Ore Tailing o Objective: Replacement of River sand by Iron Ore Tailings by 100% / 70% / 50% (Cost of Sand @350-400 Rs/ Ton) o Research Institute: NIT Raipur ( Department of Civil Engineering). o Mix Design: M30 Grade Mix design with Sand : Iron Ore Tailings 80:2
Slide 32: Milestone: Strengthening our ESG Leadership
Milestone: Strengthening our ESG Leadership Top-Tier ESG Rating • Achieved a score of 76.6 from CARE Edge ESG Rating Agency. • Recognized as an industry leader, reflecting robust management of ESG risks and performance. FY 2024-25 Theme GPIL Industry Median Total Environment Score 70.5 63.7 Total So
Slide 33: International Certificates Achieved
International Certificates Achieved ISO 9001:2015 ISO 14001:2015 ISO 45001:2018 Great Place To Work (QMS) (EMS) (OH & SMS) Certified The Earth does not belong to us, We belong to earth ISO 50001:2018 ISO 27001:2022 ISO 26000 (EnMS) (ISMS) (CSR) New Certifications Implemented in 2024-25 Under Impleme
Slide 34: Strong focus on Sustainability
Strong focus on Sustainability Strengthening the ESG Framework Aligned with United Nations’ 10 principles for manufacturing responsibility and environmental sustainability o Investing in environmentally friendly technologies E Environmental o Focussed on renewable sources of energy o Reducing carbon
Slide 35: CSR Activities – Serving Society through Industry
CSR Activities – Serving Society through Industry Boosting Clean India Mission Fostering Sports Swami Aatmanand School - Siltara Awareness Training on Prevention Nutrition and Health Screening Camp of Child Sexual Abuse 34
Slide 36: Appendix
HIRA POWER & ISPAT Appendix
Slide 37: Board of Directors
Board of Directors Mr. B L Agrawal Mr. Siddharth Agrawal Mr Raj Kamal Bindal (Chairman & Managing Director) (Independent Director) (Executive Director) 1st generation entrepreneur with MCOM, CA & MBA; 22 years experience MBA with over 10 years of experience in areas of Energy, Infrastructure, Projec
Slide 38: Shareholding Pattern on 31st Dec'2025
Shareholding Pattern on 31st Dec’2025 Promoter Public Particulars No. of Shares % of Total Sh. Promoter 42,52,55,795 63.49 Domestic Institutions 1,69,72,811 2.53 FPI 3,95,24,384 5.90 36.51% Non Institution 18,80,42,418 28.08 Shareholding Total 66,97,95,408 100.00 Pattern 31st Dec’ 2025 63.49% 37
Slide 39: Past Operational Performance at a Glance
Past Operational Performance at a Glance Standalone numbers Trend of Iron Ore Mining (mt) Trend of Pellet Production (mt) 2,595,953 2,312,888 2,341,876 2,616,500 2,448,650 1,547,384 2,307,075 1,933,250 2,399,500 2,438,950 1,580,850 2,256,550 1,699,920 1,579,693 1,657,629 1,841,050 1,999,150 326,358
Slide 40: Past Operational Performance at a Glance (Ctd.)
Past Operational Performance at a Glance (Ctd.)... Standalone numbers Trend of Steel Production (mt) Trend of Silico Manganese - GPIL (mt) 488,350 16,492 16,497 479,800 16,444 350,865 16,152 13,700 13,772 14,178 204,162 344,610 327,050 325070 11,11611,403 13,136 188,190 10,537 10,517 298,418 9,434 2
Slide 41: Past Sales Realisations
Past Sales Realisations Iron ore Pellet Sponge Iron Steel Billets 33,804 12,390 29,123 42,971 10,060 49,512 31,746 7,798 10,171 30,418 43,427 43,937 28,681 9,409 18,277 8,607 33,545 7,872 29,493 21,830 33,072 6,809 7,091 18,934 19,736 20,645 27,720 28,590 5,365 16,678 16,897 22,689 5,067 4,360 13,31
Slide 42: GPIL Consolidated – Historical Profit & Loss
GPIL Consolidated – Historical Profit & Loss All figures in INR Crore Particulars FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 Net Sales 5,376 5,455 5,753 5,399 3,958 3,289 3,322 2,527 Total Expenses 4,182 4,127 4,589 3,535 2,821 2,664 2,532 1,931 Other Income 96 98 104 29 3 5 6 9 EBITDA 1,194 1,328 1,16
Slide 43: GPIL Consolidated – Historical Balance Sheet
GPIL Consolidated – Historical Balance Sheet All figures in INR Crore Particulars FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 Net Worth 4,937 4,554 3,947 3,442 2,108 1,503 1,336 1,084 Debt Long Term Debt 4 9 9 10 771 1,465 1,643 1,873 Short Term Debt 305 42 307 418 125 160 139 134 Other Long Term Liabil
Slide 44: Thank You
GODAWARI POWER & ISPAT LTD. Thank You Investor Relations Contact: Sana Kapoor Sakshi Narvekar Go India Advisors Go India Advisors sana@GoIndiaAdvisors.com sakshiN@GoIndiaAdvisors.com M:+91 81465 50469 M:+91 87792 63625 Company Contact: Sanjay Bothra YC Rao Chief Financial Officer (CFO) Company Secre
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