Indo SMC CT PT revenue reaches Rs 166.0295 crore in half year

Indo SMC Limited reported Rs 166.0295 crore of CT PT Products revenue for the half year ended 30 September 2026, making CT PT Products its largest disclosed business and accounting for about 76.8% of total segment revenue of Rs 216.1036 crore. CT PT Products revenue was Rs 76.575 crore in the corresponding prior-year half year.

How large was CT PT Products revenue for Indo SMC?

CT PT Products was Indo SMC’s largest segment in the half year ended 30 September 2026, with Rs 166.0295 crore of revenue. The amount was higher than the combined Rs 50.0742 crore reported by SMC Products and FRP Products, and exceeded CT PT Products revenue of Rs 145.4441 crore in the half year ended 31 March 2026.

CT PT Products generated about 76.8% of Indo SMC’s Rs 216.1036 crore total segment revenue in the September 2026 half year. Its revenue increased by Rs 89.4545 crore from Rs 76.575 crore in the half year ended 30 September 2025, a year-on-year increase of about 116.8%.

Compared with the half year ended 31 March 2026, CT PT Products revenue increased by Rs 20.5854 crore in the September 2026 half year. Over the same comparison, SMC Products revenue decreased by Rs 2.3014 crore, while FRP Products revenue increased by Rs 0.6214 crore.

Which Indo SMC segment grew fastest year on year?

CT PT Products recorded the fastest year-on-year revenue growth among Indo SMC’s disclosed segments, increasing about 116.8% to Rs 166.0295 crore in the half year ended 30 September 2026. FRP Products increased about 96.0%, to Rs 16.1379 crore from Rs 8.2321 crore, while SMC Products increased from Rs 27.734 crore to Rs 33.9363 crore.

CT PT Products also provided the largest absolute revenue increase, adding Rs 89.4545 crore from the September 2025 half year. This compared with increases of Rs 7.9058 crore for FRP Products and Rs 6.2023 crore for SMC Products, while total segment revenue increased by Rs 103.5625 crore.

SMC Products remained the second-largest reported business by September 2026 half-year revenue, at Rs 33.9363 crore, ahead of FRP Products at Rs 16.1379 crore. For the year ended 31 March 2026, CT PT Products contributed Rs 222.0191 crore of total segment revenue of Rs 309.7394 crore, compared with Rs 63.9717 crore for SMC Products and Rs 23.7486 crore for FRP Products.

How did CT PT Products contribute to Indo SMC segment results?

CT PT Products reported segment results of Rs 16.2687 crore for the half year ended 30 September 2026, the highest among Indo SMC’s three operating segments. The result was Rs 7.4088 crore above Rs 10.3999 crore in the half year ended 30 September 2025, but Rs 0.3734 crore below the Rs 16.6421 crore reported for the half year ended 31 March 2026.

The CT PT Products result represented about 60.7% of total segment results of Rs 26.7929 crore in the September 2026 half year. SMC Products reported Rs 8.6441 crore and FRP Products reported Rs 1.8801 crore, against Rs 5.591 crore and Rs 1.2124 crore, respectively, in the September 2025 half year.

After finance cost of Rs 2.2761 crore, Indo SMC reported profit from ordinary activities before tax of Rs 24.5168 crore for the half year ended 30 September 2026. The comparable figure was Rs 14.0348 crore a year earlier and Rs 26.5019 crore in the half year ended 31 March 2026, while exceptional items were nil in all three reported periods.

Where were Indo SMC’s assets and capital additions concentrated?

SMC Products held the largest segment asset base at Rs 132.6477 crore as of 30 September 2026, followed by CT PT Products at Rs 70.8476 crore and FRP Products at Rs 40.4403 crore. Total segment assets, including unallocated corporate assets of Rs 17.487 crore, were Rs 261.4226 crore, compared with Rs 224.4323 crore at 31 March 2026.

CT PT Products assets increased by Rs 21.3717 crore from Rs 49.4799 crore at 31 March 2026. FRP Products assets increased by Rs 13.3441 crore, SMC Products assets increased by Rs 1.8674 crore, and unallocated corporate assets increased by Rs 0.4135 crore over the same dates.

Indo SMC reported Rs 3.334 crore of capital expenditure, including capital work-in-progress, during the September 2026 half year. SMC Products accounted for Rs 1.9979 crore, CT PT Products for Rs 0.7169 crore, unallocated corporate expenditure for Rs 0.5952 crore, and FRP Products for Rs 0.0241 crore.

What were Indo SMC’s segment liabilities at September 2026?

Indo SMC reported total segment liabilities of Rs 87.1247 crore as of 30 September 2026, compared with Rs 70.3175 crore at 31 March 2026. Unallocated corporate liabilities were Rs 58.7177 crore, while SMC Products liabilities were Rs 12.5208 crore, CT PT Products liabilities were Rs 10.8487 crore and FRP Products liabilities were Rs 5.0375 crore.

CT PT Products liabilities increased by Rs 6.2466 crore from Rs 4.6021 crore at 31 March 2026 to Rs 10.8487 crore at 30 September 2026. Over that period, SMC Products liabilities increased by Rs 4.9625 crore, FRP Products liabilities decreased by Rs 0.2061 crore, and unallocated corporate liabilities increased by Rs 5.8042 crore.

How had Indo SMC used its IPO proceeds by September 2026?

Indo SMC disclosed initial public offering proceeds of Rs 91.9479 crore, of which Rs 58.1291 crore had been used as of 30 September 2026. The company reported Rs 33.8188 crore as unutilised, with the amount kept in fixed deposits and the remaining balance held in a current bank account.

Working-capital requirements had an allocation of Rs 52 crore, of which Indo SMC reported utilisation of Rs 48.1816 crore by 30 September 2026. The company also allocated Rs 25.7067 crore for plant-purchase capital expenditure and reported utilisation of Rs 2.5956 crore, while no amount had been used from the Rs 6.8893 crore allocated for general corporate purposes.

Issue-related expenses of Rs 7.3519 crore were shown as fully used by 30 September 2026. The filing also states that Rs 34.4376 crore was invested in fixed deposits, a figure greater than the separately disclosed unutilised amount of Rs 33.8188 crore; it does not explain that difference in the segment note.

Conclusion

Indo SMC’s September 2026 half-year segment disclosure identifies CT PT Products as the principal revenue and segment-result contributor, with Rs 166.0295 crore of revenue and Rs 16.2687 crore of segment results. CT PT Products also had the fastest year-on-year revenue growth among the three disclosed segments, while SMC Products retained the largest asset base at Rs 132.6477 crore.

The next item to watch is the deployment of Rs 33.8188 crore of IPO proceeds that remained unutilised at 30 September 2026. Indo SMC had used Rs 48.1816 crore of its Rs 52 crore working-capital allocation but only Rs 2.5956 crore of the Rs 25.7067 crore plant-purchase allocation, providing specific categories for subsequent utilisation disclosures.