Scoda Tubes Ltd. · NSE:SCODATUBES
Scoda Tubes — H1 FY26 Earnings Presentation
43 slides from Scoda Tubes's earnings presentation, Nov 13, 2025
Slide 1: Exchange filing cover letter for investor presentation
Date: November 13, 2025 To, To, National Stock Exchange of India Limited BSE Limited, Exchange Plaza, Phiroze Jeejeebhoy Towers, Dalal Street, Bandra Kurla Complex Mumbai – 400 001 Bandra East, Mumbai – 400051 BSE SCRIP Code – “544411” Symbol: “SCODATUBES” Dear Sir / Madam, Subject: Investor Present
Slide 2: Investor Presentation H1 FY26 Earnings Update
Investor Presentation H1 FY26 Earnings Update
Slide 3: Agenda
Agenda 01 Performance Update 02 About Scoda Tubes Limited 03 Sustainable Moats 04 Growth Strategy 05 Industry Overview Shaping a 06 Select Financial Information SUSTAINABLE TOMORROW 07 Annexure
Slide 4: Performance Update
SCODA TUBES LTD Performance Update 01
Slide 5: Performance snapshot – H1 FY26
Performance snapshot – H1 FY26 Revenue from INR 242.7 crores Cashflow from INR -51.0 crores operations (+5% y-o-y) operations (vs 22.7 crores in H1 FY25) Gross profit INR 77.3 crores Gross profit margin 31.8% (+7% y-o-y) (vs 31.3% in H1 FY25) EBIDTA1 INR 36.5 crores 15.1% EBITDA margin (-3% y-o-y) (
Slide 6: Revenue split across geographies – H1 FY26
Revenue split across geographies – H1 FY26 In INR crores Domestic Exports Revenue - mix +5% +6% 70.8 171.8 66.9 164.3 29% 29% H1 FY25 H1 FY26 H1 FY25 H1 FY26 71% 71% Revenue +5% 242.7 H1 FY25 H1 FY26 231.2 Domestic Exports H1 FY25 H1 FY26 5
Slide 7: Revenue split across geographies – Q2 FY26
Revenue split across geographies – Q2 FY26 In INR crores Domestic Exports Revenue - mix +3% +8% 106.2 38.9 103.3 36.0 26% 27% Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 74% 73% Revenue +4% 145.3 Q2 FY25 Q2 FY26 139.3 Domestic Exports Q2 FY25 Q2 FY26 6
Slide 8: Key financial highlights – H1 FY26
Key financial highlights – H1 FY26 In INR crores Revenue from operations EBITDA Profit after tax (PAT) +5% 37.5 +39% 36.5 242.7 21.1 15.2 231.2 H1 FY25 H1 FY26 H1 FY25 H1 FY26 H1 FY25 H1 FY26 Gross profit margin EBITDA margin PAT margin +58 bps +211 bps 31.8% 16.2% 8.7% 15.1% 31.3% 6.6% H1 FY25 H1 F
Slide 9: Key financial highlights – Q2 FY26
Key financial highlights – Q2 FY26 In INR crores Revenue from operations EBITDA Profit after tax (PAT) +4% +34% 22.9 22.3 14.0 145.3 10.4 139.3 Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 Gross profit margin EBITDA margin PAT margin +368 bps +212 bps 33.6% 16.4% 15.4% 9.6% 29.9% 7.5% Q2 FY25 Q2
Slide 10: About Scoda Tubes Ltd
SCODA TUBES LTD About Scoda Tubes Ltd 02
Slide 11: Scoda Tubes Limited at a glimpse
Scoda Tubes Limited at a glimpse • Fully integrated manufacturer of SS1 seamless and SS welded products 21,199 20,000 Sq. mtrs MTPA • These products are further categorised into: SS seamless Plot size of manufacturing Mother hollow capacity for pipes, SS seamless tubes, SS seamless "U" tubes, SS fac
Slide 12: A compounding story with significant milestones (1/2)
A compounding story with significant milestones (1/2) Received vendor approval from BHEL’s1 Received vendor HEEP2 Haridwar facility approval from EIL7 Incorporated for product supply for product supply the company 2010 2013 2017 2008 2012 2014 Commenced • Received vendor approvals from • Started pro
Slide 13: A compounding story with significant milestones (2/2)
A compounding story with significant milestones (2/2) • Started product supplies to • Started supplying products to Triveni Turbine Laxmi Organics • Started supplying products to • Received BEML’s1 approval for • Started product supplies to key key entities under Indian product supply entities under
Slide 14: Sustainable Moats
SCODA TUBES LTD Sustainable Moats 03
Slide 15: Sustainable moats
Sustainable moats Extensive and effective quality control 04 03 05 Strategic location of facility International accreditations and and fully integrated production product approvals 02 06 Customer diversification and Experienced and international presence qualified team 01 07 Specialized production o
Slide 16: Specialized production of SS tubes and pipes
Specialized production of SS tubes and pipes SS seamless “U” SS instrumentation SS welded tubes / SS1 seamless pipes SS seamless tubes tubes tubes “U” tubes OD: 1/8” NB to 6” NB OD: 6.00mm to OD: 6.00mm to OD: 6.00mm to OD: 6.00mm to 101.6mm 50.80mm 50.80mm 60.30mm THK: Sch10s to Sch80s THK: 0.70mm
Slide 17: International accreditations and product approvals
International accreditations and product approvals • Currently applied for Bureau Veritas Marine (France) and Rina Marine (Italy) standards • Company’s capabilities and accreditations have enabled Scoda Tubes to cater to 349 clients globally till date 16
Slide 18: Customer diversification and international presence
Customer diversification and international presence Strong presence in 32 countries1 Catering to clients across multiple sectors Oil & gas Chemicals Fertilizers Power 71% INR 5% 242.7 crores 24% India Europe Americas Pharmaceuticals Automotive Transportation2 Revenue split across geographies1 70.8%
Slide 19: Extensive and effective quality control
Extensive and effective quality control • Dedicated quality control division comprising of a team of 14 personnel capable of all mandatory tests and supplementary tests • Follow high quality standards across all the manufacturing stages, from raw material to cold rolling, until the final tubular pro
Slide 20: Strategic location of facility and fully integrated production
Strategic location of facility and fully integrated production Strategically Land available for future Sustainable located expansion production On Ahmedabad-Mehsana • Available land parcel of 74,699 sq. mts., with only 21,199 Installed solar panels on our highway, 360 kms from sq. mts. currently dev
Slide 21: Experienced and qualified team (1/2)
Experienced and qualified team (1/2) SAMARTH B PATEL JAGRUT R PATEL SAURABH A PATEL RAVI R PATEL VIPUL A PATEL Chairman & ED1 Managing Director Non-Executive Director Chief Financial Officer President • 10+ years of • 10+ years of • 10+ years of • 10+ years of Experience • 10+ years of Experience Ex
Slide 22: Experienced and qualified team (2/2)
Experienced and qualified team (2/2) + + + + + CHIRAG PATEL HARDIK SANGHVI DHAVAL MISTRI VINOD PATEL DHARMENDRA PATEL Export & Marketing Export & Marketing Domestic Sales & Production Quality Control Manager Manager Marketing Manager Manager Manager • 13+ years of • 10+ years of • 13+ years of • 19+
Slide 23: Consistent financial performance (1/2)
Consistent financial performance (1/2) In INR crores Revenue from operations EBITDA Profit after tax (PAT) 484.9 78.1 CAGR: 36% 31.7 399.9 CAGR: 98% CAGR: 170% 58.8 305.1 18.3 194.0 34.8 10.3 10.0 1.6 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 Gross profit margin EBITDA margin PAT m
Slide 24: Consistent financial performance (2/2)
Consistent financial performance (2/2) In INR crores Return on equity (RoE) Net debt/equity Inventory days 3.1 171 28.8% 2.8 2.8 156 163 142 22.8% 21.1% 1.1 4.7% FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 Return on capital employed Debtor days Cash conversion cycle (RoCE) 189 15.9%
Slide 25: Historic income statement
Historic income statement INR crores unless otherwise mentioned Particulars FY22 FY23 FY24 FY25 3-year CAGR Revenue from operations 194.0 305.1 399.9 484.9 36% Cost of materials consumed (incl. changes in WIP and finished goods) 161.1 212.6 262.0 336.4 Gross profit 32.9 92.5 137.9 148.5 65% Gross pr
Slide 26: Historic balance sheet
Historic balance sheet INR crores unless otherwise mentioned Assets FY22 FY23 FY24 FY25 Fixed assets 45.2 62.1 81.6 103.5 Other non-current assets 10.5 12.2 22.8 34.2 Inventories 62.6 99.5 111.9 149.8 Trade Receivables 35.3 51.6 89.3 101.0 Cash and bank balances 0.7 10.4 22.4 44.0 Other current asse
Slide 27: Historic cashflow statement
Historic cashflow statement INR crores unless otherwise mentioned Particulars FY22 FY23 FY24 FY25 Net profit before tax 2.3 14.4 25.9 41.9 Adjustments for: Non-cash items and other investment/financial items 8.7 22.8 34.2 37.6 Operating profit before working capital changes 11.1 37.2 60.1 79.5 Chang
Slide 28: Key Strategies
SCODA TUBES LTD Key Strategies 04
Slide 29: Key strategies
Key strategies Strategies Increase our existing production capacity Geographic expansion of customer base Strengthen our brand value 28
Slide 30: Increase our existing production capacity
Increase our existing production capacity Seamless production capacity (MTPA1) Capacity comparison 11x capacity expansion Product Existing Post expansion capacity capacity capacity +10,000 Seamless 10,068 MTPA 20,068 MTPA Welded 1,020 MTPA 13,150 MTPA 10,068 1,800 Mother hollow 20,000 MTPA Inception
Slide 31: Geographic expansion of customer base
Geographic expansion of customer base Curated a strategic plan by leveraging extensive network of distributors, robust back-end, sound track-record, key product approvals & registrations, wide product portfolio and domain expertise Exported to 32 countries since inception Exporting countries Headqua
Slide 32: Strengthen our brand value
Strengthen our brand value Participation in key exhibitions and expos • Chemtech – Mumbai • GSSE – Mumbai • Stainless Steel World - Maastricht, Netherlands • Tube & Wire - Dusseldorf, Germany • Heat Exchanger World - Rotterdam, Netherlands • Heat Exchanger World - Houston, Texas, USA • Stainless Sho
Slide 33: Industry Overview
SCODA TUBES LTD Industry Overview 05
Slide 34: Global demand contribution
Global demand contribution Stainless steel tubes and pipes – Global demand split CY 2023 Oil and gas CY 2028E1 15-17% 15-17% Process industries 6-8% 23-26% 24-27% ART 5-7% 6-8% 6-8% ABC 11-13% 18-21% Water treatment 10-12% 19-22% Pharmaceuticals 14-16% 14-16% Others Global demand of SS tubes and pip
Slide 35: Stainless steel tubes and pipes – India outlook
Stainless steel tubes and pipes – India outlook • Strong growth in end-user industries like building and Stainless steel tubes and pipes demand (in 000’ tonnes) construction, automobile, oil and gas, manufacturing and food and beverage will drive the demand of SS pipes and tubes 450 300 322 • Policy
Slide 36: Select Financial Information
SCODA TUBES LTD Select Financial Information 06
Slide 37: Income statement
Income statement INR crores unless otherwise mentioned Particulars H1 FY25 Income H1 FY26 YoY change Q2 FY25 Q2 FY26 YoY change Revenue from operations 231.2 242.7 5% 139.3 145.3 4% Cost of materials consumed (incl. changes in WIP and finished goods) 158.9 165.4 4% 97.6 96.4 -1% Gross profit 72.3 77
Slide 38: Balance sheet
Balance sheet INR crores unless otherwise mentioned Assets Balance FY25 H1 FY26 Property, plant and equipment 80.9 84.8 Capital work in progress 22.5 61.1 Intangible assets 0.1 0.2 Other non-current assets 34.2 30.9 Inventories 149.8 213.8 Trade receivables 101.1 154.0 Cash and bank balances 43.9 13
Slide 39: Cashflow statement
Cashflow statement INR crores unless otherwise mentioned Particulars H1 FY25 H1 FY26 Net profit before tax 20.3 28.0 Adjustments for: Non-cash items and other investment/financial items 18.1 10.5 Operating profit before working capital changes 38.4 38.5 Changes in working capital -15.5 -74.6 Direct
Slide 40: Annexure
SCODA TUBES LTD 07 Annexure
Slide 41: Process flow
Process flow SS Round bars Raw material SS Coils Inspection Welded Seamless 1 Roll forming and Peeling process 1 TIG welding “U” bending 1 Hot piercing process 1 Solution annealing Bright annealing Hot finish pipe annealing 1 “U” bending by cold process 1 Straightening Straightening Coating & pickli
Slide 42: Safe harbor statement
Safe harbor statement This presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase any securities ("Securities") of Scoda Tubes Limited (“Scoda" or the "Company") in India or any other jurisdiction
Slide 43: For any further information/queries, please contact
For any further information/queries, please contact: Company Investor relations consultant Scoda Tubes Limited Capital Bridge Advisory Service Pvt. Ltd Ravi Patel Rutul Shah Raj Shah, CFA Chief Financial Officer rutul@capbridge.in raj@capbridge.in cs@scodatubes.com +91 82002 43766 +91 99259 11296 Sc