Sector concallsMetals & Mining
- Ardee Industries Limited
- Ashapura Minechem Limited
- Bansal Wire Industries Limited
- Behari Lal Engineering Limited
- BMW Industries Ltd
- CMR Green Technologies Limited
- Jai Balaji Industries Limited
- Lloyds Metals And Energy Limited
- Maan Aluminium Limited
- Midwest Limited
- Mishra Dhatu Nigam Limited
- Tega Industries Limited
- Venus Pipes & Tubes Limited
- Vibhor Steel Tubes Limited
FY25-26 consolidated revenue grew 19% to Rs 4160 crore with highest ever annual volume of 4,58,000 tonnes as expanded Dadri capacity to approximately 6,80,000 tonne per annum supported diversification into speciality and B2C wires.
- Consolidated revenue
- ₹4,160 Crup 19%
- EBITDA
- ₹324 Crup 17%
Q1 FY27 revenue grew 18% year-on-year to INR151.7 crores as high-value share rose to 60.4% and utilization reached 90.5%, with growth to be driven by mix and Unit 3 capacity.
- Revenue from operations
- ₹151.7 Crup 18% YoY
- Sales volume
- 22,095 tonsup 13.4% YoY
Ardee Industries reported robust YoY revenue growth supported by volume and exports, but faces margin pressure and a cautious outlook due to geopolitical disruptions impacting raw material procurement and costs.
- Revenue
- ₹338.8 Cr
- Revenue YoY Growth
- 35.2%35.2%
Revenue growth of 20% this quarter, driven by new Jharsuguda plant and strong order booking across both established pipes and new infrastructure products like crash barriers, poles, and transmission line towers.
- Revenue Growth (YoY)
- 20%
- Jharsuguda Plant Capacity Utilization (Pipe)
- 12%
The company navigated a challenging quarter marked by volatile freight and input costs, maintaining stable financials while advancing port and washing plant infrastructure to support medium-term volume growth.
- Bauxite volume
- 2.34 million tons
- EBITDA per ton
- 6.3 per tonQ4: 5.9
Strong revenue growth of 40% was driven by order execution, but margins were pressured by high LPG and raw material costs, which management expects to normalize later in the year.
- Turnover
- ₹239.49 Cr40.46%
- Value of Production
- ₹260.36 Cr7.9%
The company delivered strong profit growth with a 25.8% increase in PAT, driven by improving capacity utilization, while progressing on its major greenfield expansion at Bokaro to diversify the business model and capture more value.
- Operating Income
- ₹166 Cr11.6%
- Gross Profit Margin
- 67.9%536 bps
While revenue moderated sequentially due to export market challenges and logistics delays, profitability improved by 40% QoQ, reflecting a strategic focus on high value-added manufacturing.
- Revenue
- ₹232 Cr+10% YoY growth
- EBITDA
- ₹7 Cr~40% QoQ improvement
The company delivered strong revenue and profit growth driven by ferroalloys and improved realizations, but the core ductile iron pipe segment remains subdued due to slow government ordering and project execution.
- Revenue
- ₹1,683 Cr24%
- Adjusted EBITDA
- ₹154 Cr46%
Midwest started FY27 strong with 35% revenue growth led by granite and commenced quartz commercialization while securing strategic international MoUs for rare earths.
- Revenue Growth YoY
- 35%
- EBITDA Growth YoY
- 25%
Tega Group delivered strong consolidated performance, highlighted by robust legacy Tega consumables growth and the successful first-month integration of the Molycop acquisition.
- Consolidated Revenue
- ₹1,720 Crn/a
- Consolidated Adjusted EBITDA
- ₹264 Crn/a
Record revenue and margins were driven by full capacity utilization of the new pellet plant, structural cost savings from the slurry pipeline, and a deliberate shift towards value-added products.
- Consolidated Revenue
- ₹7,354 CrTripling YoY
- Standalone Revenue
- ₹5,413 Cr127% YoY
The company delivered record quarterly revenue and EBITDA, backed by strong order inflows and strategic expansion into value-added products like fittings and spooling solutions.
- Revenue
- ₹320.5 Cr16%
- EBITDA
- ₹51.5 Cr14.7%
CMR delivered strong growth in Q1 FY27 with a 25% volume increase, led by ramping billets and UBC businesses, while focusing on capacity expansion to exceed 7 lakh tons annually by FY27 end and maintaining profitability targets.
- Revenue from Operations
- ₹3,122 Cr65%
- EBITDA
- ₹139 Cr27%