Steamhouse India Limited · NSE:STEAMHOUSE
Steamhouse India — Q1 FY27 Earnings Presentation
52 slides from Steamhouse India's earnings presentation, Oct 5, 2026
Slide 1: Exchange submission letter for investor presentation
STEAMHOUSE INDIA LIMITED October 05, 2026 Ref. No.: SHIL/OCT/05/02/2026-27 To To Department of Corporate Services National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G Phiroze Jeejeebhoy Towers Bandra Kurla Complex Dalal Street, Mumbai – 400 001 Bandra (E), Mumbai – 400 0
Slide 2: Steamhouse India Limited Investor Presentation Q1 FY27
STEAMHOUSE INDIA LIMITED INVESTOR PRESENTATION Q1 FY27 1 1
Slide 3: Disclaimer
Disclaimer This presentation may contain statements that constitute "forward-looking statements," including, without limitation, statements relating to the implementation of strategic initiatives, future business developments, growth opportunities and the expected financial and operating performance
Slide 4: Robust Performance
ROBUST PERFORMANCE Integration Update: Q1 FY27 emerged as a landmark quarter for Steamhouse India Limited, delivering the strongest performance in the Company’s journey despite a challenging macroeconomic and geopolitical environment Volume & Market Share: Despite a challenging start to the quarter,
Slide 5: Table of Contents
Table of Contents COMPANY Q1 FY27 BUSINESS INDUSTRY SUMMARY ANNEXURES OVERVIEW HIGHLIGHTS OVERVIEW OVERVIEW FINANCIALS 4
Slide 6: Company Overview
east cal] COMPANY 2 OVERVIEW
Slide 7: Historical Business & Financial Highlight
Historical Business & Financial Highlight Formidable Player in Community industrial gas generation and pipeline distribution 345 TPH 2.19 Mn TPA 60.2 km Installed steam capacity, 7 boilers Annual installed capacity Pipeline network (60,151 m) (31 Jul 2026) 202 90.72% ₹4,915 Mn Customers served in FY
Slide 8: Company Overview
Company Overview Pioneer of the Community Boiler system in India 01 Steamhouse pioneered the Community Boiler System in India Generates steam at centralized community boiler facilities and 02 distributes it through dedicated pipelines, enabling industrial customers to focus on their core operations
Slide 9: Q1 FY27 Highlights
Q1 FY27 HIGHLIGHTS 8
Slide 10: Q1 FY27 Highlights
Q1 FY27 Highlights STEAM SOLD REVENUE FROM OPERATIONS EBITDA PAT 3,05,816.37 Ton ₹1,286.21Mn ₹309.32 Mn ₹183.42 Mn +16.70% YoY +13.35% YoY +60.08% YoY | 24.05% margin +80.25% YoY | 14.26% margin Volumes and Revenue Performance Q1 FY27 Profitability Q1 FY27 Revenue from operations increased to ₹1,286
Slide 11: Financial Performance
Financial Performance Steam Sold (Ton) Revenue From Steam (₹ Mn) 16.70% 11.52% 3,05,816 3,05,816 46.07% 33.29% 2,74,236 1,234 1,234 926 2,62,055 845 Q1FY26 Q1FY27 Q4 FY26 Q1FY27 Q1FY26 Q1FY27 Q4 FY26 Q1FY27 EBIDTA Per Ton (₹) 37.17% 5.02% 1,011 1,011 737 963 Q1FY26 Q1FY27 Q4 FY26 Q1FY27 10
Slide 12: Financial Performance
Financial Performance EBITDA (₹ Mn) & EBITDA Margin (%) Revenue from Operations (₹ Mn) 13.35% (7.10)% Margin 17.03% 24.05% 19.08% 24.05% 60.08% 17.11% 1,286 1,385 1,286 1,135 309 309 264 193 Q1FY26 Q1FY27 Q4 FY26 Q1FY27 Q1FY26 Q1FY27 Q4 FY26 Q1FY27 PAT (₹ Mn) & PAT Margin (%) Margin 8.97% 14.26% 10.
Slide 13: Record Operating Momentum
Record Operating Momentum Delivering growth through operational scale and sustainable solutions 3,05,816 Ton ₹ 120 + Cr ₹1,011/Ton 35.95 TPH Record Quarterly steam Steam revenue in Q1 FY27 EBITDA/Ton in Q1 FY27 New customer capacity volume tied up Sustainability Milestones 3.04 MW (AC) ground-mounte
Slide 14: Financial Performance Consolidated
Financial Performance Consolidated Particulars (In ₹ Mn) Q1 FY27 Q1 FY26 Y-o-Y Q4 FY26 Q-o-Q Revenue from Operations 1,286.21 1,134.76 13.35% 1,384.56 (7.10)% Cost of Materials Consumed 586.08 468.88 25.00% 374.58 56.46% Purchase of Stock in Trade 219.91 429.82 (48.84)% 558.83 (60.65)% Changes in In
Slide 15: Financial Performance Standalone
Financial Performance Standalone Particulars (In ₹ Mn) Q1 FY27 Q1 FY26 Y-o-Y Q4 FY26 Q-o-Q Revenue from Operations 1,286.21 1,134.76 13.35% 1,384.56 (7.10)% Cost of Materials Consumed 586.08 468.88 24.99% 374.58 56.46% Purchase of Stock in Trade 219.91 429.82 (48.84)% 558.83 (60.65)% Changes in Inve
Slide 16: End Use of IPO Proceeds
End Use of IPO Proceeds End use of IPO proceeds ₹ Mn Fresh Issue 3,530.00 Debt Repayment 1,800.00 Ankleshwar Phase 3 and Panoli Phase 2 759.53 Dahej GIDC Phase 2 381.74 General Corporate Purpose* 231.25 *Balancing Amount -Issue expenses 15
Slide 17: Debt Profile
Debt Profile Particular (₹ Mn) FY 26 Q1 FY 2027 Term Loan 126.80 116.19 Working Capital 1515.41 2858.66 Others 1174.01 619.96 Gross Debt 2816.22 3594.81 Cash & Cash Equivalents 1.79 3.23 Net Debt 2816.22 3591.58* Key Lenders Note: Expected reduction in finance costs in FY27, driven by repayment of h
Slide 18: Experienced Promoter and Senior Management Team
Experienced Promoter and Senior Management Team with strong industry expertise and extensive product knowledge Vaibhav Gattani Shyam Bhadresh Kapadia Chief Financial Officer Company Secretary & Compliance Officer • He has been associated with our • He is associated with our Company Company since Jun
Slide 19: Business Overview
BUSINESS OVERVIEW Piet
Slide 20: Business Segments
Business Segments Company currently operates within Industrial Gases In three different segments STEAM GENERATION & PURCHASE & DISTRIBUTION NITROGEN DISTRIBUTION OF STEAM Centralized community boiler facilities Sourcing surplus steam from industrial Supplying nitrogen through pipeline generating ste
Slide 21: Steamhouse India Limited – The Journey so Far
Steamhouse India Limited – The Journey so Far 2017 2022 2024 Established our Further Commenced steam first facility in expansion of our aggregation and Vapi Gujarat facilities through distribution at Dahej Industrial addition of boiler Gujarat Industrial Development to the Development Corporation. A
Slide 22: Why Community Boilers Win
Why Community Boilers Win Parameter Community Captive Boiler efficiency 80-83% 50-65% ₹ 1.50-2.25 for ~45 Bar superheated steam; INR 0.9–1.3 for equivalent ₹ 4.5 – ₹ 6.0 for generating low pressure steam up to Variable cost for steam variable cost for generating low-pressure steam. 40 Bar. Variable
Slide 23: Steam Boiler Process
Steam Boiler Process The process: M Deaerator Storage ESP Fuel feeding Tank Tank APH ID CHIMNEY Fan ECONOMISER DM Plant Combustion Steam SH RO REJECT RO Steam To SH WATER Plant distribution Customers RO Plant pipeline to customers FLUE GAS Bed material fluidization RO WATER COAL BOILER SPRINKLING FD
Slide 24: Industrial Gases
Industrial Gases India’s Only Company Supplying Nitrogen Through a Dedicated Industrial Gases Pipeline Network 01 • India's only company supplying nitrogen through a dedicated pipeline network, enabling reliable and uninterrupted gas supply to industrial customers. PSA-Based Nitrogen Generation Plan
Slide 25: Coal Trading: Strategic Exit
Coal Trading: Strategic Exit Sharpening focus on Core Business Material development - Coal trading has been discontinued Completely What has changed • The Company has discontinued coal trading activities with effect from 1 April 2026 and does not intend to undertake such activities in the future Coa
Slide 26: Asset Light Model
Asset Light Model Monetizing surplus steam through our dedicated pipeline 40%+ infrastructure Deliver Return On Capital Employed Upwards of 40% Capital-efficient expansion with limited investment reflecting strong capital requirements efficiency High operating leverage, driving meaningful EBITDA and
Slide 27: Tender Allotment for 300 TPH Steam Project at Bulk Drug Park, Una
Tender Allotment for 300 TPH Steam Project at Bulk Drug Park, Una Tender Awarded 300 TPH Community Boiler Facility 01 • Awarded the tender for setting up a 300 TPH community boiler facility at Bulk Drug Park, Una at Bulk Drug Park, Una, Himachal Pradesh ₹311 Crore EPC Mandate 02 • The ₹311 Crore (in
Slide 28: Key Strengths
Key Strengths Market leadership Sticky customers Market leader in community boiler Market leader in community boiler steam steam and only pipeline-based and only pipeline-based nitrogen supplier nitrogen supplier in India in India High entry barriers Sustainability track record Vapi waste-to-steam,
Slide 29: Strategically Located Facilities Offering Community Gas Generation And Distribution
Strategically Located Facilities Offering Community Gas Generation And Distribution limited space and existing pipeline landing points make it hard for new entrants to build parallel networks. Operational Plants – Gujarat, India. Pipeline Installed Nandesari Includes trading facilities (in meters) 3
Slide 30: Strong Customer Retention Driving Recurring Revenue Growth
Strong Customer Retention Driving Recurring Revenue Growth Revenue as percentage from Repeat customers (%) Revenue From Repeat Customer in ₹ Mn 99.38 3,235 92.03 94.07 88.79 2,817 2,663 1,227 FY24 FY25 FY26 Q1 FY27 FY24 FY25 FY26 Q1 FY27 FY24 FY25 FY26 Q1 FY27 Revenues from repeat customers are reve
Slide 31: Improving Utilization Across Core Business Capacities
Improving Utilization Across Core Business Capacities With rising demand, higher capacity utilization is expected to drive operating leverage, supporting further margin expansion 41.40 41.40 36.06 38.32 Capacity Utilization % (Y-o-Y) Capacity Utilization % (Q-o-Q) Q1 FY26 Q1 FY27 Q4 FY26 Q1 FY27 40.
Slide 32: Strategic Shift Towards Green Boilers
Strategic Shift Towards Green Boilers Green boiler capacity to increase 7x from 15 TPH in FY26 to 105 TPH in FY27, reinforcing Steamhouse's commitment towards cleaner industrial steam solutions 420 360 330 270 105 105 15 15 FY25 FY26 FY27 FY28 Total Capacity(TPH) v 285 345 465 525 v v v Coal Capacit
Slide 33: Industry Overview
INDUSTRY OVERVIEW 32
Slide 34: Industry- Key Sectors Where Steam-as-a-Service is Used
Industry- Key Sectors Where Steam-as-a-Service is Used Sector Industry Size in INR Billion CAGR Application of steam Major Production Hub Raw material heating, Equipment disinfection and Dying, concentration, Heat Telangana, AP, Pharma 5,200 12.9% exchanger, Humidification, Freeze dying, Maharashtra
Slide 35: Market Potential- Total Steam Consumption in India
Market Potential- Total Steam Consumption in India Clusters wise steam Consumption Market Potential- Total Steam Consumption in India Clusters wise steam Consumption 186,000 TPH The figures show that even at Rs. 500cr of revenue, Steamhouse has Total process steam demand ₹ 37,46,840 Mn less than 0.2
Slide 36: Proven Concept District steam & heating
Proven Concept District steam & heating Shared central plants that sell heat / steam to many buildings as a metered utility. The direct analog to a community boiler - and already a multi-billion-dollar business. Tabreed (National Central Cooling) Vicinity Energy ENGIE – Networks LISTED - ABU DHABI (
Slide 37: Regulatory Tailwinds – Not a choice but a compulsion
Regulatory Tailwinds – Not a choice but a compulsion Norms have tightened at exactly the small end of the fleet, so the switch to shared steam is now a dated decision rather than an option Regulatory Tailwinds – Not a choice but a compulsion Norms have tightened at exactly the small end of the fleet
Slide 38: Adoption Curve - Why Now
ADOPTION CURVE - WHY NOW How long to become a rocket - and what flips it? How long to become a rocket - and what flips it? Flat for decades, then a sudden J - the curve snaps the moment a shared utility beats going-it-alone on cost. Each new market has inflected faster than the last. Penetration / m
Slide 39: Financials
FINANCIALS 38
Slide 40: Financial Performance
Financial Performance Revenue from Operations (₹ Mn) EBITDA (₹ Mn) & EBITDA Margin (%) PAT (₹ Mn) & PAT Margin (%) EBITDA EBITDA Margin PAT PAT Margin (%) 4,915 3,951 835 386 684 693 14.26% 2,917 312 24.05% 272 183 1,286 309 23.45% 9.27% 17.54% 7.82% 7.81% 16.99% FY24 FY25 FY26 Q1FY27 FY24 FY25 FY26
Slide 41: Financial Performance Consolidated
Financial Performance Consolidated Particulars (In ₹ Mn) FY26 FY25 Y-o-Y Revenue from Operations 4,915.11 3,951.06 24.40% Cost of Materials Consumed 1,598.57 1,528.08 4.61% Purchase of Stock in Trade 1,945.01 1,321.70 47.16% Changes in Inventories of Finished Goods, Work-in-Progress and 11.40 (11.40
Slide 42: Financial Performance Standalone
Financial Performance Standalone Particulars (In ₹ Mn) FY26 FY25 Y-o-Y Revenue from Operations 4,915.11 3,951.06 24.40% Cost of Materials Consumed 1,598.57 1,528.08 4.61% Purchase of Stock in Trade 1,945.01 1,321.70 47.16% Changes in Inventories of Finished Goods, Work-in-Progress and 11.40 -11.40 -
Slide 43: Financial Performance Consolidated
Financial Performance Consolidated Particulars (In ₹ Mn) Q1 FY27 Q1 FY26* Q2 FY26** Q3 FY26* Q4 FY26 Revenue from Operations 1286.21 1134.76 1249.41 1146.37 1384.56 Cost of Materials Consumed 586.08 468.88 497.76 257.35 374.58 Purchase of Stock in Trade 219.91 429.82 481.99 474.37 558.83 Changes in
Slide 44: Financial Performance Standalone
Financial Performance Standalone Particulars (In ₹ Mn) Q1 FY27 Q1 FY26* Q2 FY26** Q3 FY26* Q4 FY26 Revenue from Operations 1286.21 1134.76 1249.41 1146.37 1384.56 Cost of Materials Consumed 586.08 468.88 497.76 257.35 374.58 Purchase of Stock in Trade 219.91 429.82 481.99 474.37 558.83 Changes in In
Slide 45: Annexures
Annexures 44
Slide 46: Safety at the Core of Operations
Safety at the Core of Operations Personal Protective Equipment Emergency Preparedness (PPE): Employees and workers are provided with First aid kits are available at operational essential safety gear, including helmets, safety locations to support timely response during jackets, protective eyewear, a
Slide 47: Corporate Social Responsibility Initiatives
Corporate Social Responsibility Initiatives Committed towards creating a positive social impact through initiatives focused on education, environment, sports, and cultural development. EDUCATION ENVIRONMENT Initiative: Promoting environmental Supporting initiatives focused on sustainability and Catc
Slide 48: Reducing Our Carbon Footprint
Reducing Our Carbon Footprint Coal is the primary fuel today, while waste and agro-fuels are the fuels of tomorrow Planned additions by fuel (TPH) 270 WHERE WE ARE ALTERNATIVE FUELS Coal is the primary fuel at most Industrial, agro, plastic and textile boilers. Vapi WTE (15 TPH) runs on waste, texti
Slide 49: Technology in Community Boilers
Technology in Community Boilers Steamhouse India, a leader in community boiler industry, has elevated its community boiler monitoring and assessment system through the application of state-of-the-art technologies Technology innovation in Community boilers Emerging Technologies for Community Boilers
Slide 50: Technology in Community Boilers
Technology in Community Boilers We apply technology to our monitoring and assessment systems through innovations such as SCADA and steam traps/auto valves with real- time monitoring using flow meters Community Boiler Pipeline Network SCADA Room Boiler Automation Process Nitrogen Pipeline Network SCA
Slide 51: Strategic Roadmap & Growth Outlook
Strategic Roadmap & Growth Outlook Moving Towards Margin Expansion Sustainability Building a diversified and sustainable Targeting sustained EBITDA growth of fuel mix by integrating waste-to- 30–35% CAGR over the next three energy solutions, driving long-term years, supported by capacity profitable
Slide 52: Thank You
THANK YOU Building a sustainable tomorrow Steamhouse India Limited Adfactors PR – Investor Relations Vaibhav Gattani | Chief Financial Officer Tejpal Singh | tejpal.singh@adfactorspr.com Dipti Seksaria | finance.analyst@steamhouse.in Sharmin Vatcha | sharmin.vatcha@adfactorspr.com Ishika Bhandari |