OWAIS - Owais Metal

📊 NSE: OWAIS 🏢 Mining / Minerals / Metals 📅 Last Updated: 12/14/2025 10:48

💰 Financial Performance

Revenue Growth by Segment

The company operates in a single business segment: Metal and Mineral Processing. Revenue grew 166.6% YoY from INR 80.05 Cr in FY24 to INR 213.41 Cr in FY25. For H1 FY26 (ended Sept 2025), revenue reached INR 122.62 Cr.

Geographic Revenue Split

Not explicitly disclosed, though operations and offices are located in Ratlam (Madhya Pradesh) and Ajmer/Udaipur (Rajasthan).

Profitability Margins

PAT margins improved from 16% in FY23 to 24% in FY24. The company maintained a robust PAT margin of 22% for the full year FY25 and 20.5% for H1 FY26.

EBITDA Margin

EBITDA margin was 33% in Sept 2024, an improvement from 29% in March 2024, reflecting enhanced operational efficiency.

Capital Expenditure

Historical investment is reflected in depreciation, which increased 74% from INR 1.16 Cr in FY24 to INR 2.02 Cr in FY25, indicating significant additions to plant and machinery.

Credit Rating & Borrowing

Finance costs were INR 1.69 Cr in FY25 compared to INR 1.61 Cr in FY24. Specific credit ratings and interest rate percentages are not disclosed.

⚙️ Operational Drivers

Raw Materials

Metals and minerals (including manganese processing). Raw materials represent the largest cost component, accounting for 73.8% of revenue in H1 FY26 (INR 90.51 Cr).

Import Sources

Sourced primarily from Rajasthan (Ajmer, Udaipur) and Madhya Pradesh (Ratlam) based on operational locations.

Capacity Expansion

Current capacity in MT is not disclosed; however, the 74% increase in depreciation (to INR 2.02 Cr) suggests a substantial expansion of the manufacturing base in FY25.

Raw Material Costs

Raw material costs were INR 141.33 Cr in FY25, representing 66.2% of total revenue. Costs increased significantly in absolute terms following the 166% revenue jump.

Manufacturing Efficiency

EBITDA margin expansion from 29% to 33% YoY indicates improving manufacturing efficiency and scale benefits.

📈 Strategic Growth

Expected Growth Rate

35%

Growth Strategy

The company aims to achieve growth through leadership in advanced material processing and scaling operations. Revenue has already scaled from INR 4.73 Cr in FY18 to INR 213.41 Cr in FY25, a massive expansion driven by operational scaling and market penetration in the mineral sector.

Products & Services

Processed metals and minerals, specifically advanced material processing for industrial use.

Brand Portfolio

Owais Metal and Mineral Processing.

🌍 External Factors

Industry Trends

The industry is seeing a high-growth phase with the company recording a 248% YoY revenue increase in H1 FY25, driven by demand for processed minerals in industrial applications.

Competitive Landscape

Operates in a competitive industry landscape requiring constant innovation and operational discipline.

Competitive Moat

Moat is built on advanced material processing capabilities and rapid scaling. The sustainability is linked to maintaining a 24% margin while turnover grows at triple-digit rates.