Shankara Group delivered strong financial results for Q2 & H1 FY26. 1. **Business Performance:** Q2 sales rose 26% YoY to ₹1,681 Cr, with H1 sales reaching ₹3,325 Cr, up 27% YoY.

The steel business showed robust growth, with Q2 volumes up 31% YoY and revenue up 28% YoY.

Non-steel revenue grew 10% YoY in Q2, driven by Sanitaryware, Plumbing, Electricals, and Paints, despite broader industry headwinds.

Retail sales increased 22% YoY in Q2. 2. **Growth Drivers or Strategy:** The company completed its demerger, creating separate marketplace (SBL) and manufacturing (SBPL) entities.

SBL aims to boost steel volumes, expand non-steel categories like Electricals and Paints, and leverage its 94 stores and 36 fulfillment centers.

SBPL focuses on operational restructuring to improve margins and capacity utilization.

3. **Recent Developments:** A new non-steel store opened in Vijayawada, alongside three new fulfillment centers.

The listing of Shankara Buildpro Limited is expected by November-end.

4. **Key Financial Metrics:** Q2 Profit After Tax (PAT) jumped 65% YoY to ₹25 Cr, with Basic EPS at ₹10.38. H1 PAT increased 84% YoY to ₹58 Cr, and Basic EPS reached ₹23.75. EBITDA margins stood at 3.03% for Q2 and 3.31% for H1. 5. **Management Commentary / Outlook:** Shankara is on track to achieve over 1.0 million tonnes in steel volume for FY26, targeting sustained top-line growth and margin improvement.