SCODATUBES

Scoda Tubes financials

Market cap
₹778 Cr
Sector
Capital Goods
Calls analysed
3
Latest concall · Q4 FY26 · call held 28 May 2026

SCODATUBES Q4 FY26

Revenue ₹518.7 cr +7%EBITDA ₹76.2 cr EBITDA Margin 14.7% −1%PAT ₹38.8 cr +22%

What went well

  • FY26 Revenue grew 7% YoY to INR518.7 crores, demonstrating stable operating performance despite challenges.
  • FY26 PAT grew 22% YoY to INR38.8 crores, with PAT margins improving by 100 basis points to 7.5% YoY.
  • Guidance for FY27 includes 25% revenue growth and 14-15% EBITDA margins, indicating strong future outlook.

What to watch

  • Q4 FY26 PAT decreased by 7% YoY to INR6.3 crores, with PAT margins at 5.1%, down 40 basis points YoY.
  • FY26 EBITDA margins compressed to 14.7% from 16.1% in FY25, and Q4 FY26 EBITDA margins were 13.5% vs 14.1% in Q4 FY25.
Read the full call →

Guidance record · Q4 FY26

what the last two calls moved 15 tracked 1 delivered 4 missed 10 open
  • Seamless Production Capacity delivered said Q4 FY25 Promised: 20,068 MTPA operational by August or September (H2 FY26) Q4 FY26: Seamless capacity increased to 20,000 MTPA in FY26. The target was met within the delayed timeline.
  • EBITDA Margin missed said Q4 FY25 Promised: 15% to 16% range Q4 FY26: FY26 full-year EBITDA margin was 14.7%, falling short of the guided range. New guidance for FY27 is 14-15%.
  • Welded Production Capacity delayed said Q4 FY25 Promised: 13,150 MTPA operational by Q1 FY27 Q4 FY26: Project delayed due to geopolitical situation and logistic challenges. Equipment delivery now expected July-August, with operations starting H2 FY27.

All 15 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 27.6%, net profit down 25.8% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue139 130 124 97 145 +4%152 +17%124 −0%124 +28%
EBITDA23 23 17 14 22 −2%23 −1%17 −4%16 +13%
Net profit10 10 7 7 14 +34%11 +18%6 −7%5 −26%
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 −25.7% 1Y

₹120₹140₹160₹180Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 14 Nov 2025Q4 FY26 — 27 May 2026

1Y: ₹174.82 on 10 Sept 2025 → ₹129.82. High ₹180.22 (22 Sept 2025), low ₹116.68 (23 Mar 2026).

How the price took the results

close before → close after

Q4 FY26
−2.9%
28 May
Q2 FY26
−3.9%
14 Nov

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.

Financials, as filed

Revenue grew 7.0% a year over 1 year, FY25 to FY26. Operating margin narrowed to 14.7%.

Year endingFY25FY26
Revenue₹485 Cr₹519 Cr
Operating profit₹78 Cr₹76 Cr
Operating margin16.1%14.7%
Interest₹22 Cr₹25 Cr
Depreciation₹18 Cr₹9 Cr
Net profit₹32 Cr₹39 Cr
Net margin6.5%7.5%
Cash from operations₹18 Cr₹-14 Cr
Free cash flow₹-22 Cr₹-130 Cr
ROCE20.0%17.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY22FY23FY24FY25FY26
Equity capital₹1 Cr₹1 Cr₹1 Cr₹60 Cr₹60 Cr
Reserves₹34 Cr₹44 Cr₹62 Cr₹314 Cr₹330 Cr
Borrowings₹110 Cr₹140 Cr₹203 Cr₹204 Cr₹187 Cr
Other liabilities₹11 Cr₹53 Cr₹64 Cr₹130 Cr₹110 Cr
Total liabilities₹156 Cr₹238 Cr₹330 Cr₹708 Cr₹688 Cr
Fixed assets₹11 Cr₹62 Cr₹82 Cr₹85 Cr₹185 Cr
Capital work in progress₹35 Cr₹0 Cr₹0 Cr₹61 Cr₹9 Cr
Investments₹0 Cr₹1 Cr₹1 Cr₹1 Cr₹0 Cr
Other assets₹110 Cr₹175 Cr₹248 Cr₹561 Cr₹494 Cr
Total assets₹156 Cr₹238 Cr₹330 Cr₹708 Cr₹688 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 Jun 2026

Since Jun 2025, DIIs trimmed −4.30 pp while the public added +4.00 pp. The shareholder count shrank 6% to 25,953.

Promoters
66.4%
FIIs
8.4%
DIIs
3.6%
Public
21.6%

Since Jun 2025

  • DIIs −4.30 pp
  • Public +4.00 pp
  • FIIs +0.30 pp

How it drifted, 5 quarters

Over this window DIIs fell from 7.9% to 3.6% — −4.3 pp.

Jun '25Dec '25Jun '26

Ownership split by quarter, oldest first. Jun '25: Promoters 66.4%, FIIs 8.1%, DIIs 7.9%, Public 17.6%.Sep '25: Promoters 66.4%, FIIs 7.8%, DIIs 6.9%, Public 18.9%.Dec '25: Promoters 66.4%, FIIs 8.0%, DIIs 7.4%, Public 18.1%.Mar '26: Promoters 66.4%, FIIs 8.2%, DIIs 7.4%, Public 18.1%.Jun '26: Promoters 66.4%, FIIs 8.4%, DIIs 3.6%, Public 21.6%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Scoda Tubes Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Saurabh Amrutbhai Patel 10.35%unchanged
Samarth Bharatbhai Patel 10.35%unchanged
Malabar India Fund Limited FPI fund7.70%unchanged
Jagrutkumar Rameshbhai Patel 6.64%unchanged
Ravi Rameshbhai Patel 6.64%unchanged
Nisarg Rameshbhai Patel 5.31%unchanged
Ratanben Rameshbhai Patel 3.99%unchanged
Ranchhodbhai K Patel Huf . 3.32%unchanged
Rameshbhai Nathalal Patel 3.32%unchanged
Carnelian Bharat Amritkaal Fund AIF3.28%unchanged
Vipulkumar Arvindbhai Patel 2.39%unchanged
Hardik Rameshbhai Patel 2.21%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.

What the price assumes

Attractive

To justify its price of ₹130, this stock must grow earnings at 16% every year for 7 years. Our analysis caps realistic growth at ~22%. At that growth it is worth ₹181 — upside of 40%.

Growth the price implies
15.8% a year
for 7 years, fading to 4%
It has actually compounded at
22.3% a year
net profit, FY25–FY26
The gap
-0.1 pp
40% downside if it only repeats history
Price today ₹129.82 Value at the reference growth ₹181.37

Change the assumptions yourself →

All earnings calls (3)

Read the Q4 FY26 call →

Learn to analyse Scoda Tubes Limited

Guides on how to read this kind of business and the numbers that matter.