BMW Industries Ltd — earnings calls

BMW Industries reported operating income of INR166.0 crores for Q1 FY27, up 11.6% year-on-year, with operating EBITDA up 7.1% to INR33.7 crores and profit after tax up 25.8% to INR19.1 crores. Management said the EBITDA margin contracted due to higher fuel costs from the Middle East conflict, while the rolling mill business ran at approximately 83.5% capacity utilization and pipes and tubes at approximately 40.1%. Management reiterated its FY25-FY28 guidance for consolidated revenue CAGR of approximately 70% to 75%, supported by the phased commissioning and ramp-up of the Bokaro project.

BMW Industries reported its highest ever quarterly and annual profits for Q4 and full year FY26, with quarterly operating income of INR210 crores and operating EBITDA margin of 27.5%, and full year operating income of INR665 crores with EBITDA margin of 24.8%. Management reiterated its guidance of approximately 75% revenue CAGR from FY25 to FY28, driven by the phased commissioning of the Bokaro greenfield project alongside organic growth in existing businesses. The company also discussed capacity utilization trends, working capital plans for Bokaro, and funding structure for the INR803 crore greenfield investment.