Steamhouse India Q2: Profit Up 167%, ₹500 Cr Green MoU

Steamhouse India reported a sharp profit surge of 167% YoY in Q2 FY27, driven by higher industrial steam sales and improved operating margins, while also signing a ₹500 crore MoU with the Haryana government to explore community boiler infrastructure projects. 📊 Key Financial Highlights – Q2 FY27 (Ended 30 Sept 2026) Metric Q2 FY27 YoY Change Sequential Change Revenue ₹128 crore +13.35% −0.5% Steam Sales Revenue ₹122.53 crore +43.6% — Steam Volume Sold 301,642 tonnes +12.1% — EBITDA ₹24.68 crore +73.4% −20.2% PAT ₹7.77 crore +167.1% ↓ vs June quarter EBITDA Margin 19.3% −476 bps QoQ — Interpretation: Steamhouse India’s profitability expanded strongly year‑on‑year thanks to better realizations per tonne of steam and efficient cost management. However, margins compressed sequentially due to higher material costs and flat revenue growth. ⚙️ Operational Drivers Steam Sales Growth: Improved pricing and utilization of community boiler networks. Cost Pressures: Material and purchase costs rose to ₹87.5 crore (68.3% of revenue). Employee Costs: ₹3.6 crore, slightly higher than previous quarter. Other Expenses: ₹12.2 crore, down from ₹13.7 crore. 🏗️ Strategic Developments 1. ₹500 Crore MoU with Haryana Government Signed on: 27 Oct 2026 with Haryana Enterprises Promotion Centre (HEPC). Objective: Explore industrial infrastructure projects, focusing on community boiler systems for clusters in Panipat and Sonipat. Benefits: Centralized steam generation, pollution control, and emissions monitoring. Nature: Exploratory — no project award yet. 2. Capacity Expansion & Green Energy Projects Waste‑to‑Energy Boilers: Capacity to rise seven‑fold to 105 TPH in FY27. Major Contract: ₹311 crore EPC and O&M deal for a 300 TPH community boiler and 30 MW co‑generation plant at Bulk Drug Park, Una (Himachal Pradesh). Long‑Term Revenue: 25‑year operation mandate ensures steady cash flows.