Sambhv Steel Tubes Limited · NSE:SAMBHV
Sambhv Steel Tubes — Q2 FY26 Earnings Presentation
42 slides from Sambhv Steel Tubes's earnings presentation, Nov 9, 2025
Slide 1: Stock exchange disclosure letter
November 9, 2025 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: Q2 & H1FY26 Investor Presentation
SAMBHV STEEL TUBES LIMITED Q2 & H1FY26 Investor Presentation, November 2025
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 Q2 & H1FY26 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-ever half-yearly performance, with total sales volumes, revenue, EBITDA, and PAT in H1FY26 growing by 51%, 76%, 94%, and 109% respectively, reflecting robust operational and financial progress. Recognized as single-locati
Slide 6: Q2 & H1FY26 Performance Highlights
Q2 & H1FY26 Performance Highlights
Slide 7: H1FY26 at a Glance
H1FY26 at a Glance Key Financial Highlights INR 11,388 Mn INR 1,348 Mn INR 1,330 Mn INR 634 Mn INR 7,539 Revenue Total EBITDA^ EBITDA PAT EBITDA /T (Excl. Sponge Iron) INR 6,944 INR 165 Mn 0.82x 18% 39 Days EBITDA / T Cash Flow from Operations* Debt / EBITDA* ROCE* Working Capital Cycle* Key Operati
Slide 8: Q2FY26 at a Glance
Q2FY26 at a Glance Key Financial Highlights INR 5,802 Mn INR 613 Mn INR 603 Mn INR 300 Mn INR 6,563 Revenue Total EBITDA^ EBITDA PAT EBITDA /T (Excl. Sponge Iron) INR 6,100 INR (226) Mn 0.91x 16% 38 Days EBITDA / T Cash Flow from Operations** Debt / EBITDA* ROCE* Working Capital Cycle* Key Operation
Slide 9: H1FY26 Quarterly Strategic Updates
H1FY26 Quarterly Strategic Updates Kesda Plant Update - Recommendation Improved capacity utilization in the to grant environment clearance in the Pre-galvanized (GP) Pipes and Expert Appraisal Committee (EAC) Stainless Steel divisions. meeting held at MoEF&CC. Achieved highest half yearly Received p
Slide 10: Capacity Expansion Plan for next 4-5 years
Capacity Expansion Plan for next 4-5 years Existing Capacity Greenfield Expansion Total Capacity Post Expansion 1,708,000 Ton 1,200,000 Ton 508,000 Ton Existing Finished Product Capacity Greenfield Finished Product Capacity Expansion Total Finished Product Capacity Post Expansion Existing Finished P
Slide 11: H1FY26 Financial Highlights
H1FY26 Financial Highlights Revenue (INR Mn) Gross Profit (INR Mn) & Margin (%) 76% 3,500 30.16% 28.88% 35.00% 3,000 30.00% 2,500 25.00% 11,388 2,000 20.00% 1,500 3,289 15.00% 6,471 1,000 10.00% 1,951 500 5.00% - 0.00% H1FY25 H1FY26 H1FY25 H1FY26 Gross Profit Margin EBITDA (INR Mn) & Margin (%) PAT
Slide 12: Q2FY26 Financial Highlights
Q2FY26 Financial Highlights Revenue (INR Million) Gross Profit (INR Mn) & Margin (%) 83% Gross Profit Gross Profit Margin 29.92% 2,000 28.64% 27.87% 30.00% 1,500 25.00% 5,586 5,802 1,000 20.00% 1,672 1,617 3,163 500 906 15.00% - 10.00% Q2FY25 Q1FY26 Q2FY26 Q2FY25 Q1FY26 Q2FY26 EBITDA (INR Million) &
Slide 13: Detailed Income Statement
Detailed Income Statement Particulars (Rs. Mn) Q2FY26 Q2FY25 Q1FY26 YoY QoQ H1-FY26 H1-FY25 YoY Net Revenue from Operations 5,802 3,163 5,586 83% 4% 11,388 6,471 76% Total Expenditure 5,199 2,938 4,859 77% 7% 10,058 5,786 74% EBITDA 603 225 727 168% -17% 1,330 684 94% EBITDA Margin (%) 10.39% 7.10%
Slide 14: 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 15: Business Overview
itive ay Business pe) Overview
Slide 16: 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 17: Key Milestones
Key Milestones FY18 FY19 FY20 FY22 FY23 FY24 FY25 FY26 Commenced Commissioned Increased the capacity of Expanded the capacity of operation with the 15MW power plant Sponge iron to 105,000 sponge iron to 280,000 MTPA, manufacturing of (6 MW WHRB + 9 MW MTPA, blooms/slabs to HR coils to 390,000 MTPA,
Slide 18: Detailed Manufacturing Process Flow
Detailed Manufacturing Process Flow Backward Integrated Steel & Pipes Manufacturing facility 17
Slide 19: Diversified Product Portfolio
Diversified Product Portfolio
Slide 20: 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 21: 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 Bloom/Slabs Narrow Width HR Coils Pre-Galvanized (GP) Sponge Iron Cold Rolled (CR) Coils GP Coils (Mild Steel) (Mild Steel) Pipes Refined form of iron Semi-finished steel Deformi
Slide 22: 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 23: Key Investment Thesis
Key Investment Thesis
Slide 24: 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 25: 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 HR Coils Sponge Blooms / Slabs CR ERW/GI GP Integration Power (MS* & SS #) (MS* & SS #) Iron Coils Pipes Pipes over the & Tubes yea
Slide 26: 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 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 1,05,000 1,05,000 90,000 89.03% 11
Slide 27: 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 28: 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 29: 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 30: 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 31: 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 industry. • 34+ years of experience in steel and plastics manufacturing. • Received Times Most Po
Slide 32: Appointment of new directors on the Board of Directors
6B Experienced promoters and management team with vast experience Appointment of new directors on the Board of Directors of the Company Saurabh Patil, Additional Executive Director • Has over two decades experience in project management, operations, and leadership, primarily in the steel and manufac
Slide 33: 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 34: 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 35: 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 36: 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 37: 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 38: 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 39: Future Outlook
Future Outlook
Slide 40: 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 41: 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 42: Company Contact - Investor Relations
Company Contact - cs@sambhv.com; camayank@sambhv.com Sana Kapoor Sheetal Khanduja Go India Advisors Go India Advisors Investor Relations sana@GoIndiaAdvisors.com sheetal@GoIndiaAdvisors.com M:+91 81465 50469 M:+91 97693 64166