INNOMET
Innomet Advanced Materials financials
- Market cap
- ₹366 Cr
- Sector
- Metals & Mining
- Calls analysed
- 2
Innomet Q4 FY26
What went well
- Revenue from operations increased by 66% year-on-year to ₹53.86 crore in FY26.
- Order book crossed ₹35.99 crores for FY27, representing more than half of FY26 revenue.
- Acquired 57.5% stake in Swastik Tungsten for ₹1.5 crores, strengthening backward integration and opening new revenue vertical.
What to watch
- EBITDA margins declined from 15.6% in FY25 to 10.4% in FY26.
- Sharp increase in raw material prices, particularly tungsten, copper, and base metals, impacted profitability.
What Innomet Advanced Materials Limited does
Innomet manufactures ferrous and non-ferrous metal/alloy powders (copper, bronze, brass, nickel, tin, stainless steel and more) via water, air and gas atomization, sold to diamond-tool, brazing, surface-coating, catalyst and additive-manufacturing customers under the Innomet Powders brand. Its second division, Innotung, makes Tungsten Heavy Alloy (THA) bars, plates, cubes, spheres and custom components for defence (kinetic-energy penetrators, rocket nozzles, jet vanes), radiation shielding and aerospace rotor balancing. In February 2026 it acquired a 57.5% stake in Swastik Tungsten Private Limited to backward-integrate into tungsten metal/carbide powder supply and open a standalone tungsten-carbide components business.
Segments
- Metal/Alloy Powders (Innomet Powders)
- Tungsten Heavy Alloys (Innotung)
- Swastik Tungsten Private Limited (57.5%-owned)
- Manufacturing divisions
- 2 (Innomet Powders — metal/alloy powders; Innotung — Tungsten Heavy Alloy)
- Metal powder manufacturing capability
- 50 tonnes/month installed (operating at ~40-42 tpm)
- Tungsten Heavy Alloy capacity
- 5 tonnes/month (expanded from 1.5 tpm)
- Swastik Tungsten installed capacity (57.5%-owned)
- 120 tonnes/year of tungsten metal/carbide powders & components
- Metal/alloy powder product range
- 20+ grades (copper, bronze, brass, nickel, tin, stainless steel and others)
- Export footprint
- Customers across 9+ countries incl. US, UK, Germany, Netherlands, Japan, Italy, New Zealand, Lebanon, Brunei
Guidance record · Q4 FY26
what the last two calls moved 14 tracked 1 delivered 2 missed 11 open- FY26 Revenue Growth delivered said Q2 FY26 Promised: 25-30% growth Q4 FY26: FY26 revenue grew 66% YoY to ₹53.86 crore, significantly exceeding the 25-30% guidance.
- Gas Atomizer Commercial Production missed said Q2 FY26 Promised: Commercial production in the next few months Q4 FY26: The 'next few months' timeline from Q2 FY26 has passed with no confirmation of commercial production. Instead, the company announced a new, larger DRDO-supported project for an advanced gas atomization facility with a 1-1.5 year timeline for trials.
- EBITDA Margin at risk said Q2 FY26 Promised: 12-14% at ₹100 crore revenue level Q4 FY26: FY26 full-year EBITDA margin declined to 10.4% due to raw material costs. While the ₹100cr revenue target is not yet met, the current margin trend is below the guided range, placing this promise at risk.
All 14 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q4 FY26: revenue up 158.1%, net profit down 123.5% against the same quarter last year.
| Line item | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|
| Revenue | 13 | 12 | 15 | 18 | 24 +79% | 30 +158% |
| EBITDA | 1 | 3 | 3 | 2 | 4 +198% | 1 −54% |
| Net profit | 1 | 2 | 2 | 0 | 2 +211% | -0 −124% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +49.3% 1Y
1Y: ₹189.6 on 10 Sept 2025 → ₹283. High ₹288.9 (8 Sept 2026), low ₹65.65 (10 Mar 2026).
How the price took the results
close before → close after
- Q4 FY26
- +1.0%
- 3 Jun
- Q2 FY26
- −5.0%
- 4 Dec
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹2 Cr | ₹3 Cr | ₹3 Cr | ₹10 Cr | ₹13 Cr | ₹13 Cr |
| Reserves | ₹0 Cr | ₹1 Cr | ₹4 Cr | ₹5 Cr | ₹30 Cr | ₹30 Cr |
| Borrowings | ₹8 Cr | ₹10 Cr | ₹12 Cr | ₹13 Cr | ₹12 Cr | ₹15 Cr |
| Other liabilities | ₹2 Cr | ₹2 Cr | ₹3 Cr | ₹6 Cr | ₹6 Cr | ₹4 Cr |
| Total liabilities | ₹12 Cr | ₹16 Cr | ₹23 Cr | ₹34 Cr | ₹61 Cr | ₹62 Cr |
| Fixed assets | ₹3 Cr | ₹3 Cr | ₹3 Cr | ₹15 Cr | ₹19 Cr | ₹22 Cr |
| Capital work in progress | ₹0 Cr | ₹2 Cr | ₹6 Cr | ₹0 Cr | ₹2 Cr | ₹1 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹9 Cr | ₹10 Cr | ₹13 Cr | ₹18 Cr | ₹39 Cr | ₹40 Cr |
| Total assets | ₹12 Cr | ₹16 Cr | ₹23 Cr | ₹34 Cr | ₹61 Cr | ₹62 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Aug 2026
Since Sep 2025, DIIs added +1.68 pp while the public trimmed −1.36 pp. The shareholder count grew 37% to 1,289.
- Promoters
- 55.0%
- FIIs
- 2.3%
- DIIs
- 3.3%
- Public
- 39.4%
Since Sep 2025
- DIIs +1.68 pp
- Public −1.36 pp
- FIIs −0.54 pp
How it drifted, 5 quarters
Over this window the public fell from 43.6% to 39.4% — −4.2 pp.
Ownership split by quarter, oldest first. Sep '24: Promoters 54.8%, FIIs 1.0%, DIIs 0.6%, Public 43.6%.Mar '25: Promoters 54.8%, FIIs 4.3%, DIIs 1.0%, Public 39.9%.Sep '25: Promoters 54.8%, FIIs 2.8%, DIIs 1.6%, Public 40.7%.Mar '26: Promoters 56.7%, FIIs 2.4%, DIIs 3.4%, Public 37.5%.Aug '26: Promoters 55.0%, FIIs 2.3%, DIIs 3.3%, Public 39.4%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Rich N Rich Finance & Holdings Ltd newly disclosed 2.76% held
- Rnr Wealth Management Private Limited +0.53 pp 2.46% held
The same filing shows 8 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Aug 2026 filing
Every holder of Innomet Advanced Materials Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Saritha Devi Chilakapati | 25.18% | −0.67 pp |
| Chilakapati Lakshmi Kanthamma | 24.31% | −0.85 pp |
| Vinay Choudary Chilakapati | 3.93% | −0.14 pp |
| Aarth AIF Growth Fund AIF | 3.28% | −0.05 pp |
| Rich N Rich Finance & Holdings Ltd | 2.76% | newly disclosed |
| Venu Madhav Palaparthi | 2.75% | −0.10 pp |
| Rnr Wealth Management Private Limited | 2.46% | +0.53 pp |
| Belgrave Investment Fund FPI fund | 1.97% | −0.07 pp |
| Vinod Aachi | 1.91% | −0.12 pp |
| K. Sai Babu | 1.57% | −0.06 pp |
| Ch. Aditi Chowdary | 0.01% | unchanged |
| Sanjna Chowdary | 0.01% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (2)
Read the Q4 FY26 call →Learn to analyse Innomet Advanced Materials Limited
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