Rathi Steel corrects data in revised Q4FY26 investor presentation
Rathi Steel and Power Limited corrected inadvertent errors in its Q4FY26 investor presentation, specifically interchanged figures for Q4 FY25 and Q4 FY26 and an incorrect CAPEX figure. The revised data shows total income for Q4FY26 rising 63.34% to ₹244.57 crore, while EBITDA and PAT declined due to corrected expenditure figures. For FY26, revenues increased to ₹716.05 crore.
*this image is generated using AI for illustrative purposes only.
Rathi Steel and Power Limited filed a revised investor presentation for the quarter and financial year ended March 31, 2026, correcting inadvertent errors in the document submitted earlier on June 3, 2026. The revision addresses specific discrepancies on slide 5, where figures for Q4 FY25 were interchanged with Q4 FY26, and slide 19, where a figure related to CAPEX was incorrectly stated. The original presentation detailed the audited financial results discussed during an earnings conference call held on the same day.
The corrected data confirms that total income for Q4FY26 rose by 63.34% to ₹244.57 crore, compared to ₹149.73 crore in the corresponding period of the previous year. Operating income increased to ₹244.44 crore from ₹149.57 crore in Q4 FY25. Total expenditure for the quarter was reported at ₹141.67 crore, a decrease from ₹234.68 crore in the prior year, driven by lower raw material expenses which fell to ₹112.63 crore from ₹202.85 crore.
Despite the revenue growth, the company’s profitability metrics reflected the impact of the corrected expenditure figures. EBITDA for Q4FY26 stood at ₹8.06 crore, a decrease from ₹9.89 crore in Q4 FY25. Profit before tax (PBT) declined to ₹3.80 crore from ₹7.45 crore in the previous year, while profit after tax (PAT) also decreased to ₹3.80 crore. The company reported no tax expense for the quarter.
For the full financial year FY26, Rathi Steel and Power Limited recorded revenues of ₹716.05 crore, up from ₹503.15 crore in FY25. Raw material expenses for the year increased significantly to ₹572.494 crore from ₹377.87 crore. Total expenditure for FY26 was ₹687.60 crore. The balance sheet as of March 31, 2026, showed equity share capital at ₹86.36 crore and reserves and surplus at ₹54.63 crore.
Q4 FY26 Consolidated Financials Performance
| Particulars | Q4 FY25 (₹ Cr) | Q4 FY26 (₹ Cr) | Y-O-Y |
|---|---|---|---|
| Operating Income | 149.57 | 244.44 | - |
| Other Income | 0.16 | 0.12 | - |
| Total Income | 149.73 | 244.57 | 63.34% |
| Raw Material Expenses | 202.85 | 112.63 | - |
| Employee Benefit Expenses | 4.64 | 3.28 | - |
| Other expenses | 27.19 | 25.77 | - |
| Total Expenditure | 234.68 | 141.67 | - |
| EBITDA | 9.89 | 8.06 | -22.72% |
| Finance Costs | 1.67 | 1.72 | - |
| Depreciation | 0.77 | 2.54 | - |
| PBT | 7.45 | 3.80 | -95.84% |
| Tax | 0.00 | 0.00 | - |
| PAT | 7.45 | 3.80 | -95.84% |
Profit & Loss Statement Highlights
| Particulars | FY25 (₹ Cr) | FY26 (₹ Cr) |
|---|---|---|
| Revenues | 503.15 | 716.05 |
| Other Income | 2.28 | 0.44 |
| Raw Material Expenses | 377.87 | 572.494 |
| Employee Costs | 12.08 | 16.27 |
| Other Expenses | 91.17 | 98.83 |
| Total Expenditure | 481.12 | 687.60 |
| Finance Costs | 5.50 | 7.42 |
| Depreciation | 9.57 | 8.61 |
| PBT | 9.24 | 12.87 |
| Exceptional item | 4.71 | 0.00 |
| PBT after exceptional item | 13.95 | 12.87 |
| Tax | 0.00 | 0.00 |
| PAT Margin | 2.76% | 1.80% |
Historical Stock Returns for Rathi Steel & Power
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.29% | +3.09% | -6.46% | -30.69% | -36.57% | +496.67% |
Will the significant drop in raw material costs during Q4 FY26 continue into the next fiscal year to improve margins?
How will the company address the declining PAT margin from 2.76% in FY25 to 1.80% in FY26?
What are the specific CAPEX plans following the correction of the investment presentation, and how will they be funded?
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