SMIORE Share Price: Arjas Steel Ke Baad Bhi Pressure? EBITDA Dhadaam Dhadaam Gira!

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AuthorKavya Nair|Published at:
SMIORE Share Price: Arjas Steel Ke Baad Bhi Pressure? EBITDA Dhadaam Dhadaam Gira!
Overview

Arre yaar, Sandur Manganese (SMIORE) ka Q3 ka result aa gaya hai, aur bhai, EBITDA toh seedha **55%** neeche gir gaya hai, ab yeh **₹279 crore** pe aa gaya hai. Profit thoda sa upar hai, par margins ki toh band baj gayi hai, **22.6%** pe aa gaye hain.

SMIORE Ka Q3 Result: Numbers Kya Kehte Hain?

Dekho, Sandur Manganese & Iron Ores Limited (SMIORE) ne apna Q3FY26 ka result release kiya hai, aur picture thodi mixed hai. Ek taraf Arjas Steel ke acquisition ne overall revenue ko bohot tagda boost diya hai, par issi quarter mein profit margins par kaafi pressure dikh raha hai.

Q3 Mein Kya Hua?

Q3FY26 mein company ka consolidated total income 1,237 crore raha, jo pichle saal ke Q3 se sirf 1% kam hai. Lekin asal jhatka EBITDA mein laga. EBITDA 55% toot kar ₹279 crore pe aa gaya, jo pichhle saal Q3 mein ₹615 crore tha. Iski wajah se EBITDA margin bhi 44.3% se 21.7 percentage points gir kar sirf 22.6% reh gaya. Achhi baat ye hai ki consolidated Profit After Tax (PAT) 7.4% badh kar ₹116 crore ho gaya, jismein ek exceptional item ₹27 crore ka bhi hissa hai.

9 Mahine Ka Scene (9MFY26): Arjas Steel Ka Impact

Jab hum 9 mahine ki baat karte hain, toh Arjas Steel Private Limited ke consolidation ka asar dikhta hai. Total income 93% tagda bhaga aur ₹3,632 crore ho gaya. Consolidated EBITDA bhi 64% badh kar ₹878 crore raha. Par yahan bhi margin 4.4 percentage points gir kar 24% pe aa gaya. PAT 34% badh kar ₹422 crore raha.

Operational Highlights

Q3 mein Manganese Ore sales mein 101% YoY volume growth aur 9% YoY realization increase dikha. Iron Ore sales mein bhi 15% YoY volume growth tha, par realization 15% neeche giri. Ferroalloys aur Steel segments mein mixed trends rahe.

Management Kya Bol Raha Hai Aur Aage Kya?

Management ka kehna hai ki sab kuch theek chal raha hai aur future outlook positive hai. Unko metals aur mining businesses mein improvement ki ummeed hai. Arjas Steel par government ki safeguard duties ka bhi faida mil sakta hai, jo domestic players ko support karegi. Company apni debt kam karne par focus kar rahi hai aur uske liye ₹423 crore ke Non-Convertible Debentures (NCDs) ko prepayment karne ka plan bana rahi hai.

Investors ko ab Q4 mein margin recovery aur Arjas Steel ke performance par nazar rakhni hogi. Company debt kam karne mein kitni successful hoti hai, yeh bhi dekhna important hoga.

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