Mukand Q1FY26 Profit Jumps 97% on Steel Revenue Surge

Key takeaway from Mukand’s Q1FY26 update

Mukand reported a sharp year-on-year rise in profitability for the quarter ended June 30, 2026 (Q1FY26), with consolidated net profit almost doubling. The company attributed the performance to a significant surge in revenue from its Specialty Steel segment. The board approval and audit review details were disclosed as part of the regulatory financial-results process for listed companies. Alongside the headline profit growth, the numbers also showed pressure on operating profitability, with EBITDA and EBITDA margin lower year-on-year. The update is relevant for investors tracking how Mukand’s mix of segment performance, operating costs, and other income is flowing through to bottom-line results.

Board approval and review under SEBI LODR

Mukand said its Board of Directors approved the unaudited standalone and consolidated financial results for Q1FY26 at a meeting held on August 12, 2026. The results were reviewed by DHC & Co., Chartered Accountants. DHC & Co. issued a limited review report pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This is the standard mechanism used by listed companies in India for quarterly unaudited financial results, which are subject to limited review rather than a full audit.

Consolidated headline numbers: revenue and profit growth

A table in the provided data set out key consolidated metrics for Q1FY26 versus Q1FY25. Revenue from operations was reported at ₹1,362.21 crore in Q1FY26 compared with ₹1,128.71 crore in Q1FY25, a rise of 20.6%. Profit before tax (PBT) was ₹60.22 crore versus ₹37.67 crore, up 60.0% year-on-year. Net profit after tax (PAT) was ₹57.36 crore versus ₹29.03 crore, up 97.6% year-on-year. The profit growth materially outpaced revenue growth in this comparison set.

Operating profitability: EBITDA drop and margin compression

The same table indicated a year-on-year decline in EBITDA and EBITDA margin. EBITDA was listed as ₹70 million in Q1FY26 and ₹480 million in Q1FY25. Converting these figures to a single base unit, this is ₹7.00 crore in Q1FY26 versus ₹48.00 crore in Q1FY25. EBITDA margin was stated at 0.51% in Q1FY26 versus 4.17% in Q1FY25, implying a sharp contraction. This combination of rising revenue and lower EBITDA suggests that operating profitability was under pressure in the quarter, even as the final profit figure rose.

Other income stood out in the quarter’s mix

The table also showed a large year-on-year increase in other income. Other income was listed as ₹1.05 billion in Q1FY26 and ₹387 million in Q1FY25. Normalised to ₹ crore, this is ₹105.00 crore in Q1FY26 versus ₹38.70 crore in Q1FY25. The size of other income relative to EBITDA in the same table indicates that non-operating income was a significant contributor within the quarter’s financial mix as presented in the data.

Key consolidated metrics (normalised units)

Additional quarterly and annual context from the provided tables

The provided text also included a separate “Quarterly Result (All Figures in Cr.)” table listing values across Mar 2025, Jun 2025, Sep 2025, Dec 2025, and Mar 2026. In that series, net sales ranged from ₹1,058.99 crore (Mar 2025) to ₹1,300.18 crore (Dec 2025) and ₹1,217.98 crore (Mar 2026). Other income in that same table showed a large jump to ₹514.44 crore in Mar 2026, alongside profit after tax of ₹560.37 crore and adjusted EPS of ₹38.78.

A “Profit & Loss (All Figures in Cr.)” table for financial years Mar 2022 to Mar 2026 showed net sales of ₹4,642.93 crore (Mar 2022), ₹5,618.36 crore (Mar 2023), ₹5,174.69 crore (Mar 2024), ₹4,685.07 crore (Mar 2025), and ₹4,762.30 crore (Mar 2026). Net profit in that annual table was ₹91.62 crore (Mar 2022), ₹185.48 crore (Mar 2023), ₹104.06 crore (Mar 2024), ₹86.95 crore (Mar 2025), and ₹634.69 crore (Mar 2026), with adjusted EPS at ₹44.44 for Mar 2026.

Stock reference points cited in the data

The text included two separate current price references for Mukand shares. One line stated the current share price of Mukand as ₹143.22. Another line stated the current price of Mukand Ltd as ₹138.07. The data did not specify timestamps for these prices, so they should be read as quoted reference points within the provided material rather than a single verified close.

Related disclosures and upcoming expectations mentioned

Beyond Q1FY26, the text referenced past newspaper publications and board approvals for other reporting periods, including results for the quarter and nine months ended December 31, 2025, approved on February 12, 2026 and published on February 13-14, 2026. It also referenced unaudited financial results for the quarter and six months ended September 30, 2025, approved on November 12, 2025 and released on November 13-14, 2025.

The material also included an external preview and estimate for Mukand’s Q1 FY27, attributed to “Uniresearch”, projecting revenue of ₹1,013 crore (down 10.3% year-on-year) and PAT of ₹35 crore (up 20.8% year-on-year). The same section noted that the Q1 FY27 results date had not been officially announced.

Why the Q1FY26 numbers matter for investors

Mukand’s Q1FY26 update combines strong year-on-year growth in net profit with a decline in EBITDA and EBITDA margin as presented in the consolidated metrics table. The same data set highlights a substantial rise in other income in Q1FY26 versus Q1FY25, which is important for understanding how bottom-line profit moved relative to core operating profitability. Separately, the provided quarterly and annual tables show large swings in other income and profit in earlier periods, which adds context on how non-operating lines can influence reported profitability.

Conclusion

Mukand’s board-approved Q1FY26 results showed consolidated PAT of ₹57.36 crore on revenue from operations of ₹1,362.21 crore, alongside lower EBITDA and EBITDA margin year-on-year and higher other income. The results were reviewed by DHC & Co. under SEBI LODR requirements following the August 12, 2026 board meeting. Investors will also track the company’s next quarterly disclosure cycle, while the provided material notes that the Q1 FY27 results date has not yet been officially announced and includes an external Q1 FY27 estimate.