Shankara Buildpro Limited — Investor Meet, 27-05-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Shankara Buildpro Limited held its Q4 & FY26 Earnings Conference Call, discussing financial performance and future outlook.

**Financials:** FY26 revenue grew 30% YoY to INR 6,826 Cr, with steel revenues up 33% to INR 6,220 Cr and volumes reaching 10.16 lakh tonnes. Q4 FY26 revenue was INR 1,996 Cr, up 28% YoY. EBITDA for FY26 rose 51% to INR 228 Cr, with margins expanding to 3.35%. PAT surged 64% YoY to INR 128 Cr for FY26, with Q4 PAT up 42% YoY. ROCE stood at 36% and the working capital cycle improved to 25 days.

**Outlook:** The company targets 1.2 million tonnes of steel volume in FY27 and 1.4 million tonnes in FY28, aiming for 2 million by FY31. Steel tubes and pipes volume is projected to grow from 6.9 lakh tonnes to 1 million tonnes in three years. Non-steel revenue is expected to increase by 25% to INR 750 Cr in FY27 and INR 925 Cr in FY28, driven by plumbing, fittings, and sanitaryware, with a gradual tile industry recovery. E-commerce is targeted at INR 35 Cr for FY27 and INR 50 Cr for FY28. The company plans to add 7-10 new fulfillment centers/stores in FY27. Medium-term EBITDA margin aspiration is around 4%.

**Business & Strategy:** Shankara Buildpro highlighted its unique omnichannel, multi-vertical model catering to a wide customer spectrum. The company is focused on expanding its presence in CPVC, PVC, and UPVC roofing. Management expressed confidence in navigating steel price volatility through inventory management and customer relationships.

**Investor Takeaway:** The management conveyed a confident tone, emphasizing strong volume-led growth and strategic expansion plans for both steel and non-steel segments. The company aims to increase its non-steel revenue share and improve EBITDA margins in the medium term.