Godawari Power & Ispat (GPIL) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 delivered resilient performance with consolidated revenue of ₹1,750.47 crore, up 32% YoY, and improved sales volumes and realizations, though sequential profitability was impacted by higher input costs from increased market procurement of iron ore and elevated coal prices amid the West Asia crisis.

• Net profit after tax for Q1 FY27 was ₹222.37 crore, compared to ₹216.41 crore in Q1 FY26 and ₹280.23 crore in Q4 FY26.

• Strategic investments continue in backward integration, value-added steel, renewable energy, and energy storage, with major projects on track for commissioning.

• Vision 2030 targets a 4x increase in revenue and 3x growth in EBITDA and PAT, leveraging a strong balance sheet and captive mining assets, excluding the shelved steel plant.

Financial highlights

• Q1 FY27 consolidated revenue: ₹1,750 Cr (+32% YoY, +9% QoQ); EBITDA: ₹334 Cr (+3% YoY, -24% QoQ); PAT: ₹222 Cr (+3% YoY, -21% QoQ); EBITDA and PAT margins at 19.1% and 12.7%, respectively.

• Standalone revenue from operations for Q1 FY27 was ₹1,486.66 crore, up from ₹1,133.93 crore in Q1 FY26 and ₹1,435.99 crore in Q4 FY26.

• Standalone net profit for Q1 FY27 was ₹198.90 crore, compared to ₹200.50 crore in Q1 FY26 and ₹321.99 crore in Q4 FY26.

• Profitability was mainly impacted by increased procurement of iron ore from the market and higher coal prices.

Outlook and guidance

• FY27 production guidance: Iron ore mining 3.4 MnT, pellets 4.0 MnT, sponge iron 0.65 MnT, steel billets 0.525 MnT, rolled products 0.44 MnT, ferro alloys 95,000 tons; full ramp-up expected from Q4 FY27 or early Q1 FY28.

• Beneficiation plant (5.4 MnT) commissioning in Q3FY27 to improve captive mining and cost efficiencies; margin improvement expected from Q4 FY27.

• 20 GWh BESS project and CRM Complex in Maharashtra progressing on schedule, with major CapEx already incurred.

• Continued focus on renewable energy and operational efficiency expected to support future growth.