BMW Industries

BMW Industries reported quarterly revenue of INR 144.9 crores with operating EBITDA of INR 36.9 crores (25.5% margin) and PAT of INR 15.2 crores, impacted by raw material constraints and contract renewal delays in TMT and CGL segments. The company maintains medium-term guidance of 75% revenue CAGR over next 3 fiscals driven by Bokaro Greenfield project, with Phase 1 color-coated operations scheduled to begin in Q1 FY27.

BMW Industries Limited announced its unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2025. The company's standalone revenue from operations was Rs. 14,457.27 lakhs for the quarter, compared to Rs. 14,846.86 lakhs in the previous quarter and Rs. 14,972.64 lakhs in the same quarter last year. Profit after tax stood at Rs. 1,542.14 lakhs for the quarter versus Rs. 1,527.85 lakhs in the previous quarter. For the half-year period, revenue was Rs. 29,304.13 lakhs compared to Rs. 32,307.63 lakhs in the previous year. The consolidated results showed similar trends with quarterly revenue of Rs. 14,489.86 lakhs. The Board of Directors approved these results in a meeting held on November 8, 2025. The company's earnings per share for the quarter was Rs. 0.69.

India Ratings and Research assigned an IND A/Stable rating to BMW Industries Limited's additional bank loan facilities of ₹4,800 million and affirmed existing ratings on ₹2,566.80 million bank facilities at IND A/Stable/IND A1. The rating reflects the company's sustained operating and financial performance, driven by improved realizations and stable contribution from its conversion business. BMW Industries operates primarily in conversion business (over 75% of sales) with a long-term association with key customer Tata Steel Limited, with contracts renewed until March 2029. The company reported consolidated revenue of ₹6,286 million with EBITDA margins of 23.4%. The rating is supported by capacity enhancement in the tube segment and planned greenfield facility commissioning in Bokaro during FY26-FY28. However, the rating is constrained by ongoing debt-funded capex of around ₹7,500 million for the Bokaro project, which may moderate credit metrics during FY27-FY28. The company maintains diversified product portfolio including TMT bars, steel pipes and galvanised sheets, with high customer concentration at 68% from key customer.