Steamhouse India Posts Q2 Profit of Rs 7.77 Crore; Secures New EPC Order

Revenue for the quarter ended September 30, 2026, was Rs 127.997 crore, with a Profit After Tax of Rs 7.772 crore.

Reader Takeaway: Strong order pipeline via HP project launch offsets sequential profit dip from Rs 18.34 crore.

What just happened

Steamhouse India has released its financial results for the quarter ended September 30, 2026, alongside a significant infrastructure order win. The company reported a revenue of Rs 127.997 crore and a profit of Rs 7.772 crore. Simultaneously, it secured an Engineering, Procurement, Construction (EPC) and Operation & Maintenance (O&M) mandate for a 300 TPH steam plant and a 30 MW co-generation power plant in Una, Himachal Pradesh, awarded by Himachal Pradesh Bulk Drug Park Infrastructure Limited.

Why this matters

The new order from the Himachal Pradesh Bulk Drug Park signifies a major entry into the infrastructure support space for the pharmaceutical sector. While the quarterly profit saw a sequential decline from Rs 18.342 crore in the previous quarter, it shows a significant improvement over the Rs 2.879 crore reported in the same quarter last year.

IPO Proceeds Utilization

The company provided an update on its IPO fund usage as of September 30, 2026. Out of total proceeds of Rs 322.506 crore, Rs 169.47 crore has been utilized. Major disbursements include Rs 141.895 crore directed toward the repayment or prepayment of borrowings, while a substantial portion of funds allocated for capacity expansion at the Panoli facility remains unspent, indicating future capital expenditure potential.

Risks to watch

Investors should monitor the execution pace of the newly awarded Himachal Pradesh project and the delayed utilization of funds earmarked for the Panoli facility expansion. Rising interest costs or operational delays in large-scale EPC projects could impact future margins.

What to track next

Watch for management commentary regarding the timeline for the HP Bulk Drug Park project and updates on the capital expenditure deployment schedule for the Panoli facility expansion.