Shankara Building Products Limited — Investor Meet, 24-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Shankara Building Products posted 30% volume growth in FY25 to 8.43 lakh tons, led by strong demand for structural steel tubes and pipes. Steel division revenue rose 17% despite an 11% dip in steel prices. Q4 EBITDA margin improved to 3.2%, with FY25 margin at 3.02%, recovering from earlier inventory losses. Non-steel sales grew 26%, driven by plumbing, fittings, and sanitaryware; e-commerce sales tripled to ₹15 Cr. Retail contributes 52% of revenue. Management targets 20% volume growth in FY26, aiming for over 1 million tons, with margin expansion towards 3.5% EBITDA. Initiatives include controlling interest costs and shifting institutional pricing to buy-back models. Demerger is on track for completion in H1 FY26.