Shankara Building Products Ltd Q2 FY26 Results

Shankara continued its growth momentum through Q2 and the H1 of FY26, supported by strong performance in its core steel products division. Volume growth stood at a robust 31% YOY for Q2 and 33% for H1, with 4.90 lakh tonnes recorded so far. The Company remains on track to exceed its 1 million tonne milestone for the year. While a subdued building materials environment impacted non-steel segment growth rates in line with larger industry trends, profitability remained healthy. Consolidated EBITDA margin improved to 3.31% in H1FY26 from 3.01% a year ago, driving an 84% YOY increase in Consolidated PAT. Moderation in Q2 profitability on a sequential basis was on account of one-off expenses & write-offs in the manufacturing business as well as marginal decrease in marketplace margins. A key recent development was the ‘In-Principle Approval’ received from NSE and BSE for the listing of Shankara Buildpro Limited, marking the successful culmination of the Company’s monumental demerger corporate action. The resulting entity, which will house the marketplace business, is expected to list within November. Overall, our business outlook for FY26 remains positive, driven by strong execution and sustained growth in the steel segment.