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Satia Industries Q3 FY26 PAT Surges 41% YoY to INR 280 Mn; Net Debt/Equity Drops to 0.14x
Satia Industries reported a strong financial recovery in Q3 FY26, with Net Profit rising 41% YoY to INR 280 Mn and Revenue reaching INR 3,803 Mn. The company demonstrated significant sequential improvement, turning around from a loss in Q2 FY26 to a profit, supported by a 22% QoQ revenue growth. Operational efficiency remains high with a total paper capacity of 200,000 MTPA and an expanded cutlery segment now featuring 14 machines. Most notably, the company has aggressively deleveraged, bringing its Net Debt-to-Equity ratio down to 0.14x from 0.54x in the previous fiscal year.
Key Highlights
Q3 FY26 Net Profit grew 41% YoY to INR 280 Mn, marking a sharp recovery from the previous quarter's loss.
Revenue from operations for Q3 FY26 stood at INR 3,803 Mn, a 22% increase on a sequential (QoQ) basis.
Net Debt-to-Equity ratio significantly improved to 0.14x as of December 2025, down from 0.54x in FY25.
Expanded the eco-friendly cutlery segment by adding 5 new machines, bringing the total to 14 machines.
Total installed paper capacity maintained at over 200,000 MTPA with 100% in-house power generation.
💼 Action for Investors
Investors should view the sharp turnaround in profitability and the substantial reduction in debt as strong positive indicators. The expansion into the specialty cutlery segment and expected easing of raw material costs suggest a favorable margin outlook for the coming quarters.
Satia Industries Q3FY26: Revenue Rises 22% QoQ to INR 3,803 Mn; PAT Up 42% YoY to INR 280 Mn
Satia Industries reported a strong sequential recovery in Q3FY26, with revenue growing 22% QoQ to INR 3,803 Mn, driven by seasonal demand. While Net Profit (PAT) grew 42% YoY to INR 280 Mn, the company faced significant EBITDA margin compression, dropping from 14.1% to 10.1% YoY due to high wood procurement costs and cheap imports. The company successfully turned around from a loss of INR 245 Mn in Q2FY26 to a profit this quarter. However, the cumulative 9MFY26 performance remains weak, with PAT down 58% compared to the previous year.
Key Highlights
Revenue for Q3FY26 stood at INR 3,803 Mn, a 22% growth over Q2FY26 and 1% growth YoY.
Net Profit (PAT) increased by 42% YoY to INR 280 Mn, recovering from a net loss in the preceding quarter.
EBITDA margins contracted to 10.1% from 14.1% YoY, impacted by high domestic input costs and low-priced imports.
9MFY26 PAT declined 58% to INR 351 Mn compared to INR 832 Mn in 9MFY25.
Management announced a planned PM3 shutdown in Q1FY27 to improve operational efficiencies.
💼 Action for Investors
Investors should focus on the sequential recovery in margins and the management's ability to pass on high wood costs as seasonal demand picks up. While the QoQ turnaround is encouraging, the overall 9-month decline suggests caution until realization prices stabilize against cheap imports.
Satia Industries Q3 PAT Jumps 41.5% YoY to ₹28.03 Cr Driven by Other Income
Satia Industries reported a Net Profit of ₹28.03 crore for Q3 FY26, representing a 41.5% increase from ₹19.80 crore in the same quarter last year. Revenue from operations remained nearly flat at ₹380.31 crore, up just 1.2% YoY. The profit growth was significantly bolstered by a surge in 'Other Income' to ₹28.65 crore and a net tax credit. However, the core Paper segment continues to face operational challenges, reporting an EBIT loss of ₹6.54 crore for the quarter.
Key Highlights
Net Profit for Q3 FY26 rose 41.5% YoY to ₹28.03 crore from ₹19.80 crore.
Revenue from operations stood at ₹380.31 crore compared to ₹375.83 crore in Q3 FY25.
Other Income spiked to ₹28.65 crore in Q3 FY26 from ₹6.00 crore in Q3 FY25.
Paper segment recorded an EBIT loss of ₹6.54 crore, while Co-Generation division profit stood at ₹37.89 crore.
9M FY26 PAT declined sharply to ₹35.12 crore from ₹83.19 crore in the previous year's nine-month period.
💼 Action for Investors
Investors should exercise caution as the bottom-line growth is driven by non-operational income while the core paper business remains loss-making at the EBIT level. Monitor the company's ability to restore margins in the paper segment and the sustainability of its co-generation profits.