Q1 FY27 — 7 Oct 2026
KARAMTARA Q2 FY27
This transcript is for Q1 FY27 (quarter ended June 30, 2026), not Q2. It was Karamtara's first earnings call as a listed company, held on October 7, 2026. Revenue grew 72% YoY to ₹1,581 crores, but EBITDA (₹174 crores) and PAT (₹87 crores) grew only 45%. High shipping and trucking costs kept EBITDA margin at about 11%, compared with 13% a year ago, and about ₹250 crores of revenue was US tariff passed through to customers. Management repeated FY27 revenue growth guidance of 60-65%, with 58-60% of revenue usually coming in H2, and said Q2 margins were 'far better'. It is ramping up the new Bhachau transmission plant and a Saudi plant (trials around December 2026), and working capital tightened to 36 days. However, no order book was disclosed, and management would not give FY28 or margin targets.
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