Steamhouse India hits the roof as Q1 PAT jumps 80% YoY

Steamhouse India hit an upper limit of 10% at Rs 118.42 after the company reported strong growth in consolidated profit for Q1 FY27.

Consolidated net profit rose 80.25% YoY and 30.12% QoQ to Rs 18.34 crore in Q1 FY27. Revenue from operations increased 13.35% YoY but declined 7.10% QoQ to Rs 128.62 crore. The company said the YoY revenue growth was primarily driven by a 46.07% increase in steam sales.

Profit before tax rose 81.25% YoY and 22.47% QoQ to Rs 21.91 crore in Q1 FY27.

EBITDA increased 60.08% YoY and 17.11% QoQ to Rs 30.93 crore in Q1 FY27. EBITDA margin improved to 24.05% from 17.03% in Q1 FY26 and 19.08% in Q4 FY26, representing an expansion of 702 bps YoY and 497 bps QoQ. The company attributed the EBITDA performance to optimal utilisation of waste-to-energy boilers and operating leverage from higher steam sales.

Total expenses increased 3.75% YoY but declined 12.81% QoQ to Rs 97.69 crore in Q1 FY27. Cost of materials consumed rose 25% YoY and 56.46% QoQ to Rs 58.61 crore. Employee benefits expense increased 1.27% YoY and 6.50% QoQ to Rs 3.42 crore.

Other income increased 192.22% YoY and 200% QoQ to Rs 2.25 crore. Finance costs rose 43.37% YoY and 27.01% QoQ to Rs 6.92 crore, while depreciation, amortisation and impairment expense increased 37% YoY and 13.80% QoQ to Rs 4.35 crore. Total tax expenses rose 86.60% YoY but declined 5.96% QoQ to Rs 3.57 crore.

Steam supply volumes grew 16.70% YoY and 11.52% QoQ in Q1 FY27. The company said higher coal prices created inflationary pressure, but its steam supply agreements include a pass-through mechanism under which changes in coal costs are passed on to customers. This, according to the company, helps maintain steam margins despite fluctuations in fuel prices.

The company expects its green boiler capacity to expand seven-fold from 15 TPH in FY26 to 105 TPH in FY27. It has also submitted an expression of interest for a proposed 400 TPD Waste-to-Steam project with Surat Municipal Corporation and is expanding its nitrogen business through pipeline infrastructure.

Steamhouse India is engaged in centralised steam generation and pipeline distribution for industrial customers. The company operates community boiler facilities and dedicated pipeline networks across industrial clusters in Gujarat and is expanding into industrial gases and green steam solutions.

The stock listed on the bourses on 17 September 2026. It debuted at Rs 93 on the BSE, a premium of 14.81% over its issue price of Rs 81. The stock is currently up 46.20% over its issue price.

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