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BUILDPRO - Shankara Buildpro

📊 NSE: BUILDPRO 📅 Last Updated: 11/13/2025 15:25

📢 Recent Corporate Announcements

Shankara Buildpro Files Routine SEBI Reg 74(5) Compliance Certificate for Q4 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 20 Apr 2026, 01:37 PM

Shankara Buildpro Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by KFin Technologies Limited, confirms that all dematerialization and rematerialization requests for the quarter ended March 31, 2026, have been processed and reported to the stock exchanges. This is a standard administrative filing required by all listed companies in India to ensure the integrity of shareholding records. It does not reflect any change in the company's financial performance or business operations.

Quarterly compliance certificate submitted for the period ending March 31, 2026.
Certificate issued by Registrar and Share Transfer Agent (RTA), KFin Technologies Limited.
Confirms that details of dematerialized/rematerialized securities were furnished to BSE and NSE.
Filing is in accordance with Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018.

💡 No action is required as this is a routine regulatory filing with no impact on the company's fundamentals or stock price.

Shankara Buildpro Announces Trading Window Closure from April 1, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 27 Mar 2026, 05:27 PM

Shankara Buildpro Limited has notified the exchanges that its trading window will be closed starting April 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations. This closure is in anticipation of the financial results for the quarter and full year ending March 31, 2026. The restriction applies to directors, promoters, and designated employees to prevent insider trading. The window will reopen 48 hours after the financial results are officially declared to the public.

Trading window closure effective from Wednesday, April 1, 2026.
Closure pertains to the financial results for the quarter and year ending March 31, 2026.
Window to remain closed until 48 hours post-declaration of financial results.
Applicable to Directors, Promoters, Designated Employees, and Connected Persons.

💡 No action is required as this is a routine regulatory compliance filing. Investors should await the announcement of the board meeting date for the release of Q4 and FY26 results.

Shankara Buildpro Q3 FY26 Revenue Up 29% YoY; Steel Volumes Surge 37%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 18 Feb 2026, 11:01 AM

Shankara Buildpro reported a robust Q3 FY26 with total revenue reaching Rs. 1,666 crores, driven by a 37% YoY surge in steel sales volumes to 2.61 lakh tonnes. While steel demand remains strong, particularly in Western India, the non-steel segment faced headwinds with a 5% YoY decline in sales to Rs. 146 crores. The company maintained high capital efficiency with an ROCE of 37% and working capital under 30 days for the nine-month period. Management is targeting 1 million tonnes in steel volume for the full fiscal year.

Steel sales volume grew 37% YoY to 2.61 lakh tonnes in Q3 FY26, led by aggressive expansion in Maharashtra and Gujarat.
9M FY26 Profit After Tax (PAT) surged 77% YoY to Rs. 86.5 crores, despite one-off demerger and labor code costs totaling ~Rs. 4.1 crores.
EBITDA margins improved to 3.30% in Q3 FY26 from 2.75% in the corresponding quarter of the previous year.
The company maintained a lean balance sheet with working capital under 30 days and a strong ROCE of 37%.
Management reaffirmed a long-term target of 20% revenue contribution from non-steel products by FY2029-30.

💡 Investors should focus on the company's successful geographical expansion into Western India and its industry-leading ROCE. Monitor the recovery of the higher-margin non-steel segment as a key driver for future margin expansion.

Shankara Buildpro Releases Audio Recording of Q3 & 9M FY26 Earnings Call

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 12 Feb 2026, 04:38 PM

Shankara Buildpro Limited has made the audio recording of its earnings conference call for the third quarter and nine months ended FY26 available to the public. The call was conducted on February 12, 2026, at 12:00 PM IST following the announcement of financial results. This disclosure is in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015. Investors can access the recording via the company's website to hear management's detailed commentary on business performance and future strategy.

Earnings call for Q3 and 9M FY26 successfully conducted on February 12, 2026.
Audio recording link officially published on the company's website for investor access.
Compliance with SEBI Listing Obligations and Disclosure Requirements (LODR) 2015.
The recording provides qualitative insights into the company's financial trajectory for the nine-month period of FY26.

💡 Investors should listen to the recording to understand management's outlook on the building materials market and specific growth drivers for the upcoming quarters. This is a vital resource for assessing the qualitative aspects of the company's recent financial performance.

Shankara Buildpro Q3 FY26 PAT Jumps 39% YoY to ₹25 Cr; Volume Growth at 37%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 11 Feb 2026, 06:00 PM

Shankara Buildpro reported a strong Q3 FY26 with PAT rising 39% YoY to ₹25 crore, despite a modest 4% revenue growth to ₹1,666 crore. The company achieved a robust 37% YoY volume growth in Q3, keeping it on track for its 1 million tonne annual target. For the nine-month period, PAT surged 77% to ₹86 crore on a 30% revenue increase to ₹4,829 crore. The management highlighted the success of its post-demerger asset-light model and strong demand in the steel segment, although non-steel categories continue to face industry headwinds.

Q3 FY26 PAT increased by 39% YoY to ₹25 crore, while 9M FY26 PAT surged 77% to ₹86 crore.
Revenue for Q3 FY26 stood at ₹1,666 crore (up 4% YoY) and 9M FY26 at ₹4,829 crore (up 30% YoY).
Recorded strong volume growth of 37% in Q3 and 38% in 9M FY26, targeting 1 million tonnes for the full year.
EBITDA margins remained stable at 3.30% for Q3 and 3.28% for the nine-month period.
Successfully transitioned to an asset-light platform post-demerger with 130 operational stores and fulfillment centers.

💡 Investors should focus on the company's ability to maintain high volume growth in the steel segment and the potential margin expansion as non-steel categories recover. The transition to an asset-light model post-demerger is a positive structural change for long-term capital efficiency.

Shankara Buildpro Q3 FY26 PAT Rises 39% YoY to ₹25 Cr; Steel Volumes Surge 37%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 11 Feb 2026, 05:55 PM

Shankara Buildpro delivered a robust performance in Q3 FY26, with consolidated revenue increasing 29% YoY to ₹1,666 crore. The growth was spearheaded by the steel marketplace, which saw volumes jump 37% YoY to 2.61 lakh tonnes, putting the company on track for its 1 million tonne annual target. While the non-steel segment faced macro headwinds with a 5% revenue decline, overall profitability improved significantly with EBITDA margins expanding to 3.30%. The company reported a 9M FY26 RoCE of 37% and maintained tight working capital management under 30 days.

Steel volumes grew 37% YoY to 2.61 lakh tonnes in Q3; 9M volumes up 38% to 7.27 lakh tonnes.
Q3 PAT increased 39% YoY to ₹25 crore, even after a ₹2.61 crore one-time labor code provision.
EBITDA margins expanded 55 bps YoY to 3.30% in Q3 FY26 due to better scale and cost control.
Non-steel revenue dipped 5% YoY to ₹146 crore due to industry-wide slowdown in tiles and building materials.
Achieved a high RoCE of 37% for 9M FY26 with working capital cycles maintained below 30 days.

💡 Investors should focus on the company's successful volume-led growth strategy in steel and its ability to maintain high RoCE. The recovery in the non-steel segment remains a key watchpoint for further margin expansion.

Shankara Buildpro Reports Q3 FY26 Results; First Financial Disclosure Post-Listing

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 11 Feb 2026, 02:39 PM

Shankara Buildpro Limited has announced its financial results for the quarter ended December 31, 2025, marking its first earnings report since listing on January 9, 2026. The Board approved both standalone and consolidated unaudited results, which include the performance of its subsidiary, Purple Splash Materials Private Limited. The statutory auditors, ASA & Associates LLP, issued a clean review report without any material misstatements. Notably, comparative figures for the previous year were management-certified and not auditor-reviewed, as per listing regulations for newly listed entities.

First quarterly financial results released following the company's listing on January 9, 2026.
Board approved unaudited standalone and consolidated results for the quarter and nine months ended Dec 31, 2025.
Statutory auditors issued a clean Limited Review Report for the reporting period.
Consolidated results incorporate the performance of subsidiary Purple Splash Materials Private Limited.
Board meeting concluded within approximately 1 hour and 45 minutes on February 11, 2026.

💡 Investors should review the detailed profit and loss statements to evaluate the company's fundamental performance post-IPO. The clean audit report is a positive sign for corporate governance in the newly listed entity.

Shankara Buildpro to Host Q3 & 9M FY26 Earnings Conference Call on February 12, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 07 Feb 2026, 01:18 PM

Shankara Buildpro Limited has scheduled its earnings conference call for Thursday, February 12, 2026, at 12:00 PM IST. The management team, including the Managing Director and CFO, will discuss the company's financial performance for the third quarter and nine months ended December 31, 2025. This interaction is a standard procedure following the release of quarterly results, allowing analysts and institutional investors to seek clarifications on operational and financial metrics. The call will be accessible via universal dial-in numbers and a pre-registration link.

Conference call scheduled for February 12, 2026, at 12:00 PM IST to discuss Q3 and 9M FY26 results.
Management participants include MD Sukumar Srinivas, ED Dhananjay Mirlay Srinivas, and CFO Alex Varghese.
The discussion will focus on the financial period ending December 31, 2025.
Universal dial-in numbers for the call are +91 22 7115 8242 and +91 22 6280 1341.

💡 Investors should attend or review the transcript of the call to understand management's outlook on the building materials market and margin sustainability. Key focus areas should be revenue growth in the retail segment and inventory management strategies.

Shankara Buildpro Files Q2 FY26 Results Post-Listing; Dec Quarter Results Due Feb 14

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 29 Jan 2026, 02:45 PM

Shankara Buildpro Limited, which successfully listed on the exchanges on January 9, 2026, has approved its financial results for the quarter ended September 30, 2025. This filing fulfills the SEBI requirement for newly listed companies to submit prior quarter results within 21 days of listing. The statutory auditors issued a clean limited review report for both standalone and consolidated statements. Investors should prepare for the next set of financial disclosures for the December 2025 quarter, which are due by February 14, 2026.

Company listed on BSE and NSE on January 9, 2026, triggering specific regulatory filing timelines.
September 2025 quarter results were approved and filed by the January 29, 2026 deadline.
Statutory auditors ASA & Associates LLP provided a clean limited review report with no material misstatements.
Consolidated results include the performance of subsidiary Purple Splash Materials Private Limited.
Next financial results for the December 2025 quarter are scheduled for release by February 14, 2026.

💡 Investors should review the detailed profit and loss tables on the exchange website to evaluate the company's pre-IPO performance. The upcoming December quarter results in February will be more critical as they reflect the most recent operational trends.

Shankara Buildpro Approves Q2 FY26 Financials; Meets Post-Listing SEBI Compliance Deadlines

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 29 Jan 2026, 01:32 PM

Shankara Buildpro Limited, which recently listed on January 9, 2026, has approved its financial results for the quarter and half-year ended September 30, 2025. This filing is a mandatory regulatory requirement for newly listed entities to be completed within 21 days of listing. The board also confirmed that the December 2025 quarter results are scheduled for release by February 14, 2026. The statutory auditors have issued a limited review report with no material qualifications for both consolidated and standalone statements.

Approved Unaudited Standalone and Consolidated Financial Results for the quarter ended September 30, 2025.
Complied with SEBI Regulation 33(3)(j) by filing results within 21 days of the January 9, 2026 listing date.
Next financial results for the December 2025 quarter are due to be published by February 14, 2026.
Statutory auditors ASA & Associates LLP issued a clean Limited Review Report for the period.
Consolidated results include the performance of subsidiary Purple Splash Materials Private Limited.

💡 Investors should monitor the upcoming December 2025 quarter results due in mid-February to assess the company's post-listing fundamental performance. This filing confirms the company is currently meeting its regulatory compliance obligations.

Shankara Buildpro Submits SEBI Regulation 74(5) Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 20 Jan 2026, 12:39 PM

Shankara Buildpro Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by KFin Technologies Limited, confirms that the details of securities dematerialized or rematerialized during the quarter ended December 31, 2025, have been furnished to the stock exchanges. This is a standard regulatory requirement to ensure the integrity of electronic shareholding records with NSDL and CDSL. The filing indicates that the company is maintaining its routine compliance obligations as per SEBI norms.

Compliance certificate submitted for the quarter ended December 31, 2025.
Certificate issued by KFin Technologies Limited, the company's Registrar and Share Transfer Agent.
Confirms adherence to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018.
Covers reporting for both National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL).

💡 No action is required as this is a routine regulatory filing. Investors should continue to monitor the company's financial performance and upcoming earnings reports.

Shankara Buildpro Assigned CRISIL A-/Stable Rating for Rs 745 Crore Bank Facilities

🟢 POSITIVE ⭐ 6/10

ROUTINE 📅 14 Jan 2026, 11:59 AM

CRISIL has assigned a long-term rating of 'CRISIL A-/Stable' and a short-term rating of 'CRISIL A2+' to Shankara Buildpro's bank facilities. The total rated facilities amount to Rs 745 crore, primarily consisting of cash credit and working capital limits across multiple lenders. This assignment reflects the credit agency's view on the company's adequate safety regarding timely payment of financial obligations. The 'Stable' outlook indicates that the rating is unlikely to change in the near term.

CRISIL assigned a long-term rating of 'CRISIL A-/Stable' for bank facilities
Short-term rating of 'CRISIL A2+' assigned for non-fund based and working capital limits
Total bank loan facilities rated amount to Rs 745 crore
Facilities are spread across major lenders including ICICI Bank (Rs 120 Cr) and Citi Bank (Rs 105 Cr)
The rating letter is valid until December 31, 2026

💡 Investors should view this investment-grade rating as a validation of the company's creditworthiness and financial stability. Any future rating upgrades could potentially lower the company's borrowing costs and improve margins.

Shankara Buildpro Q1 FY26 Profit at ₹32.07 Cr on Revenue of ₹1,568.14 Cr

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 09 Jan 2026, 05:41 PM

Shankara Buildpro Limited reported a steady performance for the quarter ended June 30, 2025, with revenue from operations reaching ₹1,568.14 Crores. The company achieved a Profit After Tax (PAT) of ₹32.07 Crores, resulting in an EPS of ₹13.23 for the quarter. This financial update follows a significant corporate restructuring where the company demerged from Shankara Building Products Limited, resulting in the allotment of 2.42 crore new equity shares. Total equity as of June 30, 2025, stood at ₹465.57 Crores, reflecting a healthy balance sheet post-demerger.

Revenue from operations for Q1 FY26 stood at ₹1,568.14 Crores compared to ₹5,267.38 Crores for the full previous year FY25.
Profit After Tax (PAT) for the quarter was ₹32.07 Crores with a Profit Before Tax of ₹41.77 Crores.
Basic and Diluted EPS for the quarter was reported at ₹13.23 (not annualized).
Total assets increased to ₹1,329.77 Crores as of June 30, 2025, up from ₹1,253.72 Crores in March 2025.
Completed the allotment of 2,42,49,326 equity shares of ₹10 each pursuant to the Scheme of Arrangement.

💡 Investors should note the strong quarterly revenue run rate which, if sustained, could exceed previous annual performance. The completion of the demerger and share allotment provides structural clarity for the newly independent entity.

Shankara Buildpro Closes Trading Window for Q3 FY26 Financial Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 09 Jan 2026, 04:44 PM

Shankara Buildpro Limited has announced the closure of its trading window for all designated persons effective from January 9, 2026. This regulatory step is taken in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of financial results for the quarter ended December 31, 2025. The window will remain closed for Directors, Promoters, and Connected Persons until 48 hours after the results are made public. This is a standard procedure to ensure market integrity during the earnings reporting period.

Trading window closed effective from Friday, January 9, 2026
Closure is in relation to the financial results for the quarter ended December 31, 2025
Restriction applies to Directors, Promoters, Designated Employees, and Connected Persons
Window will reopen 48 hours after the official declaration of Q3 results

💡 No action is required as this is a routine regulatory filing. Investors should await the announcement of the Q3 FY26 results date to evaluate the company's quarterly performance.

Shankara Buildpro Reports Q1 FY26 Revenue of ₹1,568 Cr and PAT of ₹32.07 Cr

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 09 Jan 2026, 04:41 PM

Shankara Buildpro Limited has declared its unaudited financial results for the quarter ended June 30, 2025, reporting a revenue of ₹1,568.14 crores. The company achieved a Profit After Tax (PAT) of ₹32.07 crores for the quarter, which represents over 40% of the total profit earned in the entire previous fiscal year (₹78.16 crores). The balance sheet reflects a significant asset base of ₹1,329.77 crores, with current assets like trade receivables and inventories dominating the mix. Furthermore, the company completed a Scheme of Arrangement involving the allotment of 2.42 crore equity shares to shareholders of the demerged entity.

Revenue from operations for the quarter ended June 30, 2025, reached ₹1,568.14 crores.
Net profit for the quarter stood at ₹32.07 crores, resulting in a basic EPS of ₹13.23.
Total assets grew to ₹1,329.77 crores as of June 2025, up from ₹1,253.72 crores in March 2025.
Trade receivables increased to ₹794.15 crores, while inventories rose to ₹420.57 crores.
Allotment of 2,42,49,326 equity shares worth ₹24.25 crores was approved pursuant to a Scheme of Arrangement.

💡 Investors should monitor the company's ability to maintain these improved margins, as the quarterly profit is tracking significantly higher than the previous year's average. Pay close attention to the management of trade receivables, which currently represent a large portion of the balance sheet.

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💰 Financial Performance

Revenue Growth by Segment

The company operates in a single business segment: Trading and retailing of home improvement and building products. Revenue for fiscal 2025 was INR 5,267.38 Cr, and for the first quarter of fiscal 2026 (ended June 30, 2025), it reached INR 1,568.14 Cr, representing a strong quarterly run-rate compared to the previous year.

Geographic Revenue Split

100% of operations and revenue are generated within India, specifically across Southern and Western India where the company operates 94 retail showrooms and 20 warehouses across 9 states.

Profitability Margins

Net profit margin improved from 1.48% in fiscal 2025 to 2.05% in Q1 FY26. Operating margin stood at 2.85% in fiscal 2025, with management targeting a steady margin of around 3% through a higher contribution from the non-steel segment.

EBITDA Margin

EBIT for fiscal 2025 was INR 143.34 Cr (2.72% of revenue) and reached INR 50.81 Cr in Q1 FY26 (3.24% of revenue), showing a core profitability improvement of approximately 52 basis points.

Capital Expenditure

Capital requirements are primarily for expansion and strategic acquisitions. The company holds intangible assets valued at INR 11.47 Cr, including a brand value of INR 10.78 Cr acquired pursuant to the demerger scheme.

Credit Rating & Borrowing

Crisil Ratings maintains a 'Stable' outlook. Borrowing costs are managed through a mix of fixed and floating rates, with floating rate debt expiring within one year totaling INR 141.57 Cr as of June 30, 2025.

⚙️ Operational Drivers

Raw Materials

Traded goods include steel products (coils, pipes), sanitaryware, ceramics, and other building materials. Purchases of stock-in-trade accounted for INR 5,038.38 Cr (95.6% of revenue) in fiscal 2025.

Import Sources

Operations are fully within India; products are sourced domestically from major manufacturers to supply the retail network across 9 Indian states.

Key Suppliers

Key suppliers include JSW Steel Ltd, Steel Authority of India Ltd (SAIL), Uttam Value Steel Ltd, APL Apollo Tubes Ltd, Jaquar & Co, Kohler India Corporation Pvt Ltd, ROCA Bathroom Products Pvt Ltd, Somani Ceramics Ltd, Kajaria Ceramics Ltd, and Cera Sanitaryware Ltd.

Capacity Expansion

Currently operates 94 retail showrooms, 36 fulfillment centers, and 20 warehouses with 0.52 million sq ft of retail space. Expansion is funded through cash generated from operations and bank borrowings.

Raw Material Costs

Cost of goods sold for Q1 FY26 was INR 1,485.05 Cr. Procurement strategies involve purchasing at prevailing market prices to match selling price movements, particularly for steel products.

Manufacturing Efficiency

Not applicable as the company is a trading entity; however, Return on Capital Employed (ROCE) was a healthy 31.53% in fiscal 2025.

Logistics & Distribution

Distribution is managed through fulfillment centers across Southern and Western India to service 94 showrooms.

📈 Strategic Growth

Expected Growth Rate

10-15%

Growth Strategy

Growth will be driven by increasing the contribution from the non-steel segment (sanitaryware, ceramics) to improve margins, expanding the retail showroom footprint, and pursuing strategic acquisitions like the 51% stake in Purple Splash Materials Private Limited.

Products & Services

Steel pipes, steel coils, sanitaryware, tiles, home improvement products, and building materials sold through 94 retail showrooms.

Brand Portfolio

Shankara Buildpro

New Products/Services

Focus on expanding the non-steel segment and home improvement services to diversify revenue streams away from volatile steel trading.

Market Expansion

Targeting deeper penetration in Southern and Western India, leveraging its existing 0.52 million sq ft of retail space.

Market Share & Ranking

Not disclosed, but identified as having an established market position in the building materials industry.

Strategic Alliances

Maintains longstanding associations with premier brands like Jaquar, Kohler, and JSW Steel to offer a diverse product range.

🌍 External Factors

Industry Trends

The industry is seeing a recovery in construction activity; the company is positioning itself for the future by shifting toward a higher-margin non-steel product mix and home improvement services.

Competitive Landscape

Competes with both organized and unorganized building material retailers; competitive edge is maintained through scale and vendor relationships.

Competitive Moat

Moat is built on a massive distribution network (94 showrooms, 20 warehouses), relationships with top-tier brands, and a vast inventory of 100,000+ SKUs, which are difficult for new entrants to replicate quickly.

Macro Economic Sensitivity

Highly sensitive to real estate demand and construction activity cycles; revenue was historically impacted by pandemic-related disruptions but has since recovered.

Consumer Behavior

Increasing consumer preference for renowned brands in home improvement, which the company addresses through its diverse brand associations.

Geopolitical Risks

Exposure is limited due to 100% domestic operations, though global economic conditions influence domestic steel pricing.

⚖️ Regulatory & Governance

Industry Regulations

Complies with the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006, and Ind AS accounting standards.

Taxation Policy Impact

The company accounts for taxes on profits; net profit of INR 32.07 Cr in Q1 FY26 is reported net of tax.

Legal Contingencies

No project completion overruns or cost excesses reported; unsatisfied performance obligations are Nil.

⚠️ Risk Analysis

Key Uncertainties

Fluctuations in steel prices represent the primary uncertainty, with a 1% price change significantly impacting net exposure and equity.

Geographic Concentration Risk

High concentration in Southern and Western India (9 states).

Third Party Dependencies

Significant dependency on key suppliers like JSW Steel and SAIL for core inventory.

Technology Obsolescence Risk

Digital transformation is managed through software assets; the company recently hived off its marketplace division during the demerger.

Credit & Counterparty Risk

Trade receivables stood at INR 336.86 Cr (not due) as of June 30, 2025, indicating healthy receivable quality.