Sarthak Metals Limited — Investor Meet, 14-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Sarthak Metals' Q2 FY26 earnings call highlighted a 14% YoY volume decline in core cored wire due to monsoon and intense competition. The company is strategically diversifying, with the welding division emerging as a strong performer, sustaining over 100 tons/month and targeting ₹25 Cr sales in two years with 9-10% EBITDA margins, backed by BIS/RDSO approvals. Its biotechnology venture is gaining traction, pursuing the ₹1,000 Cr+ bio-consumables market with ethanol distilleries, aiming for double-digit margins. Management is confident in these new growth engines, leveraging a virtually debt-free balance sheet to fund expansion and de-risk the business.