Rathi Steel and Power Posts Record January 2026 Ghaziabad Sales Amid Steady Indian Steel Demand

Rathi Steel and Power Limited reported record stand-alone monthly sales from its Ghaziabad facility in January 2026, with turnover of about Rs 77.45 crore. The performance came despite weakness in the company’s share price, which has fallen in 2026, and highlights firm demand from key steel-consuming sectors across the domestic market.

The Ghaziabad unit’s best-ever month follows steady construction momentum across India and continued infrastructure rollout. Demand from real estate, manufacturing and engineering also supported volumes, helping the company begin calendar year 2026 with higher operating levels at its integrated plant in the National Capital Region.

On the equity side, Rathi Steel and Power Ltd (BSE: 504903) traded at Rs 22.55 on February 3, 2026, at 01:11 PM IST. The stock declined 1.96% from the previous close of Rs 23.00. During the session, the share moved between an intraday high of Rs 23.54 and a low of Rs 22.40.

Over the last twelve months, the stock price ranged between Rs 39.80 at the upper end and Rs 21.65 at the lower end. The company’s current market capitalisation stands near Rs 194.75 crore. On present earnings, the share shows an Earnings Per Share of Rs 0.90 and a Price-to-Earnings multiple of 25.15.

Rathi Steel and Power shares have fallen about 17.45% since the beginning of 2026, placing the counter in a short-term corrective phase. As of January 28, 2026, MarketsMOJO maintained a "Sell" view on the company, citing elevated leverage levels, with Debt to EBITDA at 141.19x, and broadly stagnant growth trends.

"This strong performance was driven by robust demand across key end-user segments, including infrastructure, real estate, manufacturing, and general engineering. The sustained pickup in construction activity, steady government-led infrastructure spending, and improving private capex sentiment have continued to support steel consumption in India. Industry trends indicate that domestic steel demand remains resilient, supported by urbanisation, housing requirements, and ongoing infrastructure development, positioning the sector for steady growth," said Rathi Steel and Power in a statement.

Operational scale, capacity and product mix at Rathi Steel and Power

Rathi Steel and Power operates an integrated steel facility in the NCR spread over more than 12.5 acres. The plant has a melting capacity of roughly 85,000 tonnes each year and a rolling capacity of about 2,00,000 tonnes annually. The company produces TMT bars, wire rods and stainless steel billets for varied construction and industrial uses.

The business maintains a wide footprint in northern India through its dealer network and retail distribution. This presence helps channel products to infrastructure projects and housing developments. Rathi Steel and Power traces its origins to 1971 and continues the Rathi family’s steel manufacturing legacy, built over more than five decades in the sector.

Financial performance and strategy at Rathi Steel and Power

For FY25, Rathi Steel And Power Limited reported revenue of Rs 505.43 crore, an EBITDA of Rs 24.31 crore, and Profit After Tax of Rs 13.95 crore. The company, headquartered in Ghaziabad, Uttar Pradesh, focuses on stainless steel and mild steel long products used across infrastructure, real estate and engineering applications.

Management has highlighted efforts to reinforce the balance sheet through lower operating costs and technology upgrades. Rathi Steel and Power has also incorporated renewable power through open access consumption, helping manage energy expenses while supporting a stable financial base. These measures aim to sustain operations through commodity cycles and funding constraints.

Alongside this, the company is evaluating expansion of its portfolio of recycled steel, often described as "green steel". The move is intended to address rising demand from infrastructure and real estate customers that are increasingly focused on resource efficiency. Additional volumes of such products may also support compliance with future environmental norms.

"We are happy to share that we have started the year 2026 on a positive note by posting our highest-ever sales of approx. 77.45 crore from the Ghaziabad unit. This achievement is attributable to our persistent efforts in ramping up production volumes.Going forward, we will continue to sweat our assets, strive to further improve our performance, and remain focused on delivering premium quality products to our customers. We sincerely thank all our employees and stakeholders for their continued commitment and support."

Key financial and market data for Rathi Steel and Power are summarised below:

Metric	Value
FY25 Revenue	Rs 505.43 crore
FY25 EBITDA	Rs 24.31 crore
FY25 Profit After Tax	Rs 13.95 crore
Market Capitalisation (Feb 3, 2026)	Rs 194.75 crore
Share Price (Feb 3, 2026, 01:11 PM IST)	Rs 22.55
52-week High / Low	Rs 39.80 / Rs 21.65
EPS	Rs 0.90
P/E Ratio	25.15
Debt to EBITDA (as per MarketsMOJO)	141.19x

Rathi Steel and Power’s record monthly sales, existing capacity and ongoing cost measures underline firm demand conditions, even as the share trades below last year’s highs. With construction and infrastructure activity still driving steel use in India, the company remains focused on operational efficiency, product quality and potential growth in recycled steel offerings.