Gallard Steel Q4 Profit Jumps 54% To ₹4.8 Crore, FY26 Revenue Climbs 28%

Mumbai: Gallard Steel Limited reported a 53.6 percent year-on-year rise in consolidated net profit to Rs 4.8 crore in Q4 FY26, while revenue from operations increased to Rs 36.5 crore.

The company posted sequential growth as well, with profit rising from Rs 4.3 crore in Q3 FY26 and revenue improving from Rs 31.6 crore. Compared with Q4 FY25 revenue of Rs 32.1 crore and profit of Rs 3.1 crore, the company closed FY26 with stronger operational momentum following its IPO-led capital expansion initiatives.

Gallard Steel’s consolidated total income for the March quarter stood at Rs 37.7 crore against Rs 32.2 crore in the corresponding quarter last year. Profit before tax rose to Rs 6.6 crore from Rs 4.3 crore a year ago, reflecting improved operating scale and higher business activity.

Total expenses increased to Rs 37 crore from Rs 28 crore in Q4 FY25, mainly due to higher raw material costs and employee expenses. Revenue from operations also improved sequentially from Rs 31.6 crore in Q3 FY26 to Rs 36.5 crore in Q4 FY26.

Sequential growth remained steady during the quarter, supported by higher production and improved revenue realization. Employee benefit expenses rose to Rs 3 crore in Q4 FY26 from Rs 1.9 crore in Q3 FY26, while finance costs moderated to Rs 0.7 crore from Rs 0.8 crore.

Depreciation expenses increased to Rs 1.7 crore from Rs 1.6 crore in the previous quarter following capacity expansion and asset additions. Profit before tax improved by nearly 19 percent quarter-on-quarter to Rs 6.6 crore.

The company completed its initial public offering during FY26, raising Rs 37.5 crore through the issuance of 25 lakh equity shares at Rs 150 apiece. Gallard Steel stated that the proceeds are being utilised for capital expenditure, debt repayment and general corporate purposes.

As of March 31, 2026, around Rs 26 crore of unutilised IPO proceeds remained invested in fixed deposits with Yes Bank.

For the full year FY26, consolidated revenue from operations rose 27.6 percent to Rs 68 crore from Rs 53.3 crore in FY25, while net profit climbed 50.1 percent to Rs 9.1 crore from Rs 6.1 crore.

The company’s balance sheet also strengthened after the IPO, with cash and bank balances increasing sharply to Rs 26.4 crore as of March 31, 2026.

Gallard Steel said the IPO proceeds will support expansion of manufacturing facilities and repayment of borrowings at its Pithampur plant. The company did not report any deviation in utilisation of funds raised through the public issue.

Disclaimer: This report is based on unaudited/ audited financial filings and is not investment advice.