Sarthak Metals Limited is a Bhilai-headquartered manufacturer of metallurgical consumables, primarily producing cored wires, aluminium flipping coils, wire feeder machines and flux-cored welding consumables, supplying major steel mills and fabrication units while also developing an enzyme-based biotechnology pilot at Nagpur as part of diversification.

Q3 FY26 delivered revenue of ₹47.73 crore (up 8% YoY, 31% QoQ) with EBITDA of ₹2.10 crore and EBITDA margin at 4.41%, while PAT improved to ₹1.30 crore; the quarter shows a strong sequential recovery driven by higher realizations and improved volumes in key product lines.

Operationally, flux-cored welding volumes grew 182% YoY to 409 tonnes with RDSO approval and a stated ambition to scale welding sales to ₹25 crore within two years, whereas aluminium flipping coil volumes fell 37% YoY, reflecting severe price competition and overcapacity pressures in that segment.

Sarthak Metals has activated a biotechnology pilot (Solid State Fermentation) with first batch in May 2025, investing ~₹50 lakh to develop industrial enzymes, micro-nutrients and pre/probiotics targeting ethanol distilleries and biofuel integration, positioning the company to capture parts of India’s growing bioeconomy.

The company’s five-year performance shows high cyclicality: revenues fell from ₹457 crore (FY22) to ₹178 crore (FY25) and margins compressed, while balance sheet metrics improved with zero reported debt from FY23 and promoter shareholding at 68.8%, reflecting concentrated ownership and capital structure stability.