Sangam (India) Limited — Investor Meet, 14-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Sangam India reported strong Q2 FY'26 results: revenue up 16% YoY to INR785 Cr and EBITDA up 32% YoY to INR76 Cr, with margins expanding to 9.6%. Net profit stood at INR23 Cr, benefiting from a depreciation policy change (non-cash impact). Management anticipates 12-15% annual revenue growth, targeting 11-12% EBITDA margins in coming quarters, driven by completed capex and increased capacity utilization. Efforts are on to reduce debt by ~INR350 Cr over three years, with ROCE aiming for 12-14% in 12-18 months. Focus remains on efficiency, cost reduction, and achieving 70-75% renewable energy.