shares declined 1.58 per cent to trade at ₹28.58 on the NSE as of 12:49 pm on Tuesday, despite the company reporting its highest-ever profitability margins. The stock opened higher at ₹29.42 against the previous close of ₹29.04 but slipped to an intraday low of ₹27.80. Trading volumes remained elevated at 7.74 lakh shares, valued at ₹2.21 crore.
The branded TMT bar manufacturer declared its unaudited results for the quarter and half-year ended September 30, 2025, on the previous trading day. For H1 FY26, the company posted a 33 per cent year-on-year jump in profit before tax to ₹54.3 crore, with PBT margins expanding 310 basis points to 14 per cent. Revenue from operations grew 3 per cent to ₹386.9 crore, while profit after tax increased 28 per cent to ₹40.1 crore.
Royalty income surged 27 per cent to ₹85.9 crore, including a one-time payment, reflecting the success of the company’s asset-light franchise model. However, revenue from own facilities declined 2 per cent to ₹300.8 crore as abnormal weather conditions and extended rainfall impacted volumes during the quarter.
Chairman Satish Kumar Agarwal attributed the performance to robust royalty growth and cost optimisation, expressing confidence in sustained growth backed by India’s infrastructure momentum. The company’s franchise volumes grew 8 per cent year-on-year to 18 lakh metric tonnes in H1 FY26.