La Tim Metal & Industries Ltd (505693)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, La Tim's revenue was ₹137 Cr (+56.8% year on year, +9.2% on the previous quarter), and net profit ₹3.2 Cr (+58.7% year on year); the operating margin was 4.9%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹137 | +56.8% | +9.2% |
| Operating profit | ₹6.8 | +54.4% | +58.4% |
| Net profit | ₹3.2 | +58.7% | +18.9% |
| EPS (₹) | 0.24 | +50.0% | +20.0% |
| Operating margin | 4.9% | — | — |
📢 Recent Corporate Announcements
La Tim Metal & Industries reported a strong start to FY27, with consolidated revenue for Q1 reaching ₹137.29 cr, a 56.8% increase over the ₹87.58 cr reported in Q1 FY26. Profit Before Tax (PBT) saw a significant jump of 87% YoY to ₹4.73 cr, up from ₹2.53 cr. The board has also approved the re-appointment of Rahul Maganlal Timbadia as Managing Director for a five-year term effective August 9, 2026. A new subsidiary, La Proviso Buildcon LLP, was incorporated on June 1, 2026, though it is yet to commence operations.
- Consolidated revenue from operations grew 56.8% YoY to ₹137.29 cr.
- Profit Before Tax (PBT) increased by 87% YoY to ₹4.73 cr from ₹2.53 cr.
- Managing Director Rahul Timbadia re-appointed for a 5-year term until August 2031.
- Cost of materials consumed rose 37.7% YoY to ₹102.59 cr, reflecting increased scale.
- Formed a new subsidiary, La Proviso Buildcon LLP, with a 50.01% stake on June 1, 2026.
La Tim Metal & Industries reported a strong start to FY27 with consolidated revenue growing 56.8% YoY to ₹137.29 cr. Net profit surged 73.4% YoY to ₹3.52 cr, significantly outpacing the ₹2.03 cr reported in the same quarter last year. The board also secured leadership continuity by re-appointing the Managing Director for a five-year term and noted the formation of a new subsidiary, La Proviso Buildcon LLP, to expand its business footprint.
- Consolidated Revenue rose to ₹137.29 cr in Q1 FY27, up from ₹87.58 cr in Q1 FY26.
- Net Profit increased to ₹3.52 cr, representing a 73.4% growth compared to the previous year's ₹2.03 cr.
- Managing Director Rahul Timbadia re-appointed for a 5-year term effective August 9, 2026, to August 8, 2031.
- Formed a new subsidiary, La Proviso Buildcon LLP, on June 1, 2026, with a 50.01% stake.
- Quarterly EPS improved to ₹0.26 from ₹0.16 in the year-ago period.
La Tim Metal & Industries has received formal listing approval from BSE for 1,18,064 equity shares of face value Re 1 each. These shares were previously issued on a rights basis as partly paid-up and are now being converted to fully paid-up status. The total value of these shares at the current market price of Rs 8.2 is approximately Rs 9.68 lakhs, which is negligible compared to the company's Rs 109 crore market capitalization. This is a procedural step to finalize the trading status of these specific shares.
- Listing approval received for 1,18,064 equity shares from BSE Limited
- Shares have a face value of Re 1 each
- The shares were originally allotted on a rights basis as partly paid-up
- Approval date confirmed as July 24, 2026
La Tim Metal & Industries has scheduled a board meeting on July 31, 2026, to approve un-audited financial results for the quarter ended June 30, 2026. The board will also fix the date for the company's 50th Annual General Meeting. This follows a strong March 2026 quarter where revenue peaked at ‡125.71 crore compared to the ‡87-89 crore range in previous quarters. Investors will be watching for margin stability, as TTM operating margins currently stand at 4.0%.
- Board meeting scheduled for July 31, 2026, to approve Q1 FY27 results
- Company to fix the date for its 50th Annual General Meeting (AGM)
- Trading window closed from July 1, 2026, until 48 hours post-result declaration
- Previous quarter (Mar 2026) reported revenue of ‡125.71 crore and PAT of ‡2.71 crore
La Tim Metal & Industries Ltd has responded to a clarification sought by the BSE regarding significant movement in its share price. The company officially stated that there is no undisclosed price-sensitive information or pending announcements that could impact the stock price. Management attributed the recent price volatility entirely to market-driven factors. This is a standard regulatory filing often triggered by exchange surveillance systems when a stock experiences unusual volume or price swings.
- Response submitted on July 15, 2026, following a BSE surveillance query
- Company confirms 0 undisclosed price-sensitive information or pending announcements
- Management states price movement is 100% market-driven
- Filing made under Regulation 30 of SEBI (LODR) Regulations, 2015
Financial Performance
Revenue Growth by Segment
Total revenue from operations grew 28.18% YoY to INR 348.17 Cr in FY24 from INR 271.62 Cr in FY23. Segment-specific growth is not explicitly detailed, but the company is transitioning from low-margin color coated steel coils to high-margin stone coated roofing products.
Geographic Revenue Split
Not disclosed in available documents; however, the company operates a manufacturing unit in Umargaon, Gujarat and is planning a new facility in Tala, District Raigad, Maharashtra.
Profitability Margins
The company achieved a significant turnaround with a Net Profit Margin of 2.20% in FY24 (INR 7.65 Cr) compared to a net loss in FY23 (INR 7.50 Cr). PBT margin stood at 2.25% for FY24.
EBITDA Margin
EBITDA margin for FY24 was approximately 4.92% (INR 17.13 Cr), calculated from PBT of INR 7.85 Cr plus finance costs of INR 6.64 Cr and depreciation of INR 2.64 Cr.
Capital Expenditure
Planned capital expenditure involves setting up a new manufacturing facility at Tala, District Raigad for Stone Coated Roofs and a Color Coating Plant to increase capacity and logistical feasibility.
Credit Rating & Borrowing
Total borrowings as of March 31, 2024, stood at INR 45.76 Cr (INR 33.36 Cr non-current and INR 12.41 Cr current). Finance costs increased 11.04% YoY to INR 6.64 Cr.
Operational Drivers
Raw Materials
Steel coils (PPGI, PPGL), Aluminium coils (PPAL), stone chips, and asphalt. Cost of materials consumed represented 60.68% of revenue (INR 211.25 Cr) in FY24.
Import Sources
China, South Korea, and New Zealand are primary sources for stone coated roof tiles, with India being the 2nd largest importer globally.
Key Suppliers
The company sources from 67 global suppliers for stone coated roof tiles, though specific company names are not disclosed.
Capacity Expansion
Current installed capacity at the Umargaon, Gujarat facility exceeds 90,000 MTPA. Planned expansion includes a new facility at Tala, District Raigad for Stone Coated Roofs and future capacity increases.
Raw Material Costs
Raw material costs (materials consumed + stock-in-trade) totaled INR 333.87 Cr in FY24, representing 95.89% of operational revenue, reflecting a high-volume, low-margin legacy business model.
Manufacturing Efficiency
The company utilizes a state-of-the-art Colour Coating Line with a capacity exceeding 90,000 MTPA; specific utilization percentages were not disclosed.
Logistics & Distribution
The company is optimizing distribution by shifting to the Tala, Raigad location, which is described as more logistically feasible than the existing Umbergaon setup.
Strategic Growth
Expected Growth Rate
20%
Growth Strategy
LATIM aims to be the first Indian brand for Stone Coated Roofing, targeting a market projected to grow at a 20% CAGR. The strategy involves diversifying from low-margin color coated steel (legacy) to high-margin stone coated roofing and solar roofing products, supported by a new manufacturing facility in Maharashtra.
Products & Services
Colour Coated Steel Coils (PPGI, PPGL, PPAL), Design Coated/Printed Steel Coils, Stone Coated Steel Roofing, Asphalt Shingles, and Stone Coated Solar Roofing.
Brand Portfolio
LATIM, LATINA.
New Products/Services
Launched Stone Coated Solar Roofing and Asphalt Shingles in 2024; Stone Coated Steel Roofing manufacturing unit planned for 2026.
Market Expansion
Targeting premium homes, bungalows, villas, and gated townships across India; focusing on the rural-urban divide where rural India relies on suboptimal roofing.
Market Share & Ranking
Aims to be one of the Top 5 preferred brands in India in the building materials industry.
External Factors
Industry Trends
The Indian roofing market is evolving from traditional thatched/suboptimal materials to sophisticated solutions like stone coated steel, growing at a 20% CAGR to reach $10.5 million by 2027.
Competitive Landscape
Market is currently dominated by traders importing premium global brands or unbranded budget products from China; LATIM is the primary Indian manufacturing challenger.
Competitive Moat
First-mover advantage as the first Indian manufacturer of stone coated roofing; brand positioning under 'Make in India' provides a competitive edge over disorganized traders.
Macro Economic Sensitivity
Highly sensitive to India's infrastructure growth ('Amrut Kaal') and rapid urbanization, which drives demand for durable roofing solutions.
Consumer Behavior
Increasing consumer preference for aesthetic, weather-resistant (hurricane/earthquake proof), and energy-efficient (reflective) roofing materials.
Geopolitical Risks
Trade relations with China and South Korea are critical due to high import volumes of stone coated roof tiles.
Regulatory & Governance
Industry Regulations
Operations are governed by HSN codes for steel and roofing imports (73089090, 73082019, 35069999) and standard manufacturing norms.
Environmental Compliance
Focusing on eco-friendly solutions like Solar Roofing and reflective shingles to reduce carbon footprints and cooling costs.
Taxation Policy Impact
Effective tax rate impacted by deferred tax liabilities of INR 19.97 lakhs in FY24.
Risk Analysis
Key Uncertainties
Success of the transition from low-margin trading/processing to high-margin manufacturing of roofing products; potential impact of 20% CAGR market projections being realized.
Geographic Concentration Risk
Manufacturing is concentrated in Western India (Gujarat and Maharashtra).
Third Party Dependencies
Significant dependency on 67 global suppliers for imported stone coated tiles until the new Indian manufacturing unit is operational.
Technology Obsolescence Risk
Mitigated by launching innovative products like Stone Coated Solar Roofing to align with renewable energy trends.
Credit & Counterparty Risk
Trade receivables increased 20.5% to INR 18.60 Cr in FY24, representing approximately 5.3% of annual revenue.
