Steamhouse Hits 10% Upper Circuit on 80% Profit Jump
Shares of industrial steam supply specialist Steamhouse India Limited witnessed intense buying momentum right from the opening bell on Tuesday, locking in a 10% upper circuit limit in early trading hours. The counter jumped from its previous close of ₹107.70 to hit its maximum daily permissible price ceiling of ₹118.45 per share on the National Stock Exchange (NSE). The rally was triggered by the company's Q1 FY27 earnings report announced after market hours on Monday, which revealed strong top-line and bottom-line growth. Having listed only last month on September 17, 2026, at ₹94.50 against an IPO issue price of ₹81, Tuesday’s upper circuit lock takes the stock to an impressive 46% premium over its initial public offering price within just three weeks of trade.
Financial Performance: Net Profit Climbs 80%, EBITDA Margins Expand to 24%
The company delivered across operational and financial metrics in the first quarter of fiscal year 2027:
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Profit After Tax (PAT): Surged 80% year-on-year to ₹18 crore, compared to ₹10.2 crore reported in the corresponding quarter of the previous fiscal year.
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Top-Line Revenue: Expanded 13% year-on-year to reach ₹128 crore, up from ₹113 crore in Q1 FY26.
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Operating EBITDA: Advanced 60% year-on-year to ₹31 crore, up from ₹19 crore in the year-ago period.
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Operating Margin Profile: EBITDA margin expanded by 700 basis points from 17% to 24%, driven by operational leverage and better realization rates.
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Unit Operating Profit: EBITDA per tonne gained 37% year-on-year, advancing from ₹737 per tonne to ₹1,011 per tonne.
Steam Generation and Distribution Drives Core Performance
The core steam production and distribution business remained the key revenue driver for Steamhouse India, contributing nearly 96% of total revenue. Overall revenue from steam operations grew 46% year-on-year to ₹123 crore, up from ₹84.5 crore reported in the same period last year. Segmental breakdown showed that in-house production and direct distribution accounted for 73.7% of total revenue, while the purchase and third-party distribution division generated 22.2%, with ancillary industrial operations contributing the remaining 4.1%. Supply volumes expanded concurrently, with total steam off-take rising 11.5% quarter-on-quarter and 16.7% year-on-year, demonstrating growing industrial demand across manufacturing clusters and chemical hubs.
