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SALASAR - Salasar Techno

📊 NSE: SALASAR 🏢 Steel - Medium / Small 📅 Last Updated: 12/14/2025 12:41

📢 Recent Corporate Announcements

Salasar Techno Reports Operational Disruption Due to LPG Supply Shortage and Gulf Conflict

🔴 NEGATIVE ⭐ 7/10

OTHER 📅 13 Mar 2026, 06:07 PM

Salasar Techno Engineering has announced a disruption in operations caused by a force majeure restriction on LPG supply. The shortage stems from the Middle East conflict, impacting global fuel supplies and the company's production and EPC business. Furthermore, exports to the Gulf region have been hampered by the geopolitical situation. The company is currently evaluating the financial quantum of the loss while coordinating with Oil Marketing Companies for supply restoration.

Force majeure declared due to LPG supply restrictions linked to Middle East conflict
Production, material delivery, and EPC business operations are adversely impacted
Exports to the Gulf region are facing direct disruption due to regional instability
Management is coordinating with OMCs and government bodies to secure essential fuel
Total financial impact is yet to be quantified and is under active evaluation

💡 Investors should monitor the duration of the supply disruption as prolonged issues could significantly impact quarterly revenue and margins. Watch for further updates regarding the restoration of LPG supply and the stabilization of export routes.

Salasar Reports Zero Deviation in Utilization of ₹255.67 Cr Preferential Issue Proceeds

🟡 NEUTRAL ⭐ 6/10

REGULATORY 📅 14 Feb 2026, 05:27 PM

Salasar Techno Engineering has confirmed zero deviation in the utilization of ₹255.67 crores raised through a preferential issue of shares and warrants. The company utilized the majority of the funds, approximately ₹179.27 crores, for the acquisition of EMC Limited which was under liquidation. Another ₹76.19 crores were deployed toward working capital requirements to support operations. Notably, some warrants from the non-promoter group were not converted into equity as the market price remained below the exercise price of ₹14.40.

Raised ₹255.67 crores out of a planned ₹290.77 crores through preferential allotment of shares and warrants.
Deployed ₹179.27 crores for the acquisition of EMC Limited, including EMD and interest payments.
Utilized ₹76.19 crores for working capital requirements against an original allocation of ₹95 crores.
Warrants worth approximately ₹35 crores remained unexercised as the stock price traded below the ₹14.40 exercise price.
Audit Committee and Monitoring Agency (CARE Ratings) confirmed no deviations from the revised objects of the issue.

💡 Investors should monitor the integration and performance of the newly acquired EMC Limited assets, which was the primary use of the raised capital. The non-conversion of warrants suggests that the ₹14.40 level is a key psychological and technical benchmark for the stock.

Salasar Techno Q3 Net Profit Drops 65% YoY to ₹4.38 Cr; Revenue Down 16.5%

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 14 Feb 2026, 01:21 PM

Salasar Techno Engineering reported a weak performance for Q3 FY26, with standalone net profit falling 65.4% year-on-year to ₹4.38 crore. Revenue from operations declined by 16.5% to ₹310.69 crore, primarily driven by a sharp 41.7% drop in the EPC Projects segment. While the nine-month revenue shows a growth of 8.4% YoY reaching ₹1,021.25 crore, the quarterly margins were significantly compressed. Additionally, the company forfeited ₹11.70 crore following the non-exercise of 3.25 crore warrants by non-promoters.

Standalone Net Profit plummeted 65.4% YoY to ₹4.38 crore in Q3 FY26 from ₹12.65 crore in Q3 FY25.
Total Income for the quarter decreased 16.6% YoY to ₹312.47 crore compared to ₹374.61 crore last year.
EPC Projects segment revenue saw a significant decline of 41.7% YoY, falling to ₹100.42 crore.
The company forfeited ₹11.70 crore as 3.25 crore warrants held by non-promoters remained unexercised after the 18-month period.
Nine-month revenue grew 8.4% YoY to ₹1,021.25 crore, though nine-month PAT remained nearly flat at ₹30.96 crore.

💡 Investors should exercise caution due to the sharp decline in quarterly profitability and execution headwinds in the EPC segment. Monitor management commentary for updates on the order book and margin recovery strategies.

Salasar Techno Receives NSE/BSE No-Objection for Hill View Infrabuild Amalgamation

🟢 POSITIVE ⭐ 8/10

M&A 📅 04 Feb 2026, 07:56 PM

Salasar Techno Engineering has received the formal 'No Objection' letters from both BSE and NSE on February 04, 2026, regarding its proposed merger with Hill View Infrabuild Limited. This regulatory clearance is a critical milestone, allowing the company to proceed with filing the scheme before the National Company Law Tribunal (NCLT). The stock exchanges have mandated extensive disclosures, including pre- and post-merger shareholding patterns and a detailed cost-benefit analysis for shareholders. The observation letter remains valid for six months, within which the company must initiate the NCLT process.

Received 'No Objection' letters from BSE and NSE on February 04, 2026, for the proposed amalgamation.
The observation letter is valid for 6 months for the company to file the scheme with the NCLT.
Mandatory disclosure of all ongoing adjudication and enforcement actions against promoters and directors required.
Company must provide detailed synergy rationale and impact on revenue generating capacity to public shareholders.
Financials considered for the valuation report must not be more than 6 months old at the time of filing.

💡 Investors should view this as a positive step toward consolidation; however, they should carefully review the upcoming NCLT disclosures regarding the merger's synergy and cost-benefit analysis.

Salasar Techno Reports Zero Demat Requests in Q3 FY26 SEBI Compliance Filing

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 13 Jan 2026, 03:41 PM

Salasar Techno Engineering Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Bigshare Services Pvt. Ltd., covers the period from October 1, 2025, to December 31, 2025. The Registrar and Share Transfer Agent confirmed that no dematerialization requests were received from shareholders during this three-month period. This is a mandatory procedural filing and does not impact the company's financial performance or operations.

Compliance certificate submitted for the quarter ended December 31, 2025
Confirmed 0 dematerialization requests received between October 1 and December 31, 2025
Issued by Registrar and Share Transfer Agent (RTA) Bigshare Services Pvt. Ltd.
Submission adheres to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018

💡 No action is required as this is a routine regulatory filing. Investors should continue to monitor the company's core business developments and financial results.

Salasar Techno Engineering Announces Trading Window Closure from January 1, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 31 Dec 2025, 06:26 PM

Salasar Techno Engineering Limited has announced the closure of its trading window for all designated persons and their immediate relatives starting January 1, 2026. This move is a standard regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of financial results. The window will remain closed until 48 hours after the announcement of the unaudited financial results for the quarter ended December 31, 2025. The specific date for the board meeting to approve these results will be notified at a later date.

Trading window closure effective from Thursday, January 01, 2026
Closure pertains to the financial results for the quarter ended December 31, 2025
Window to reopen 48 hours after the official declaration of financial results
Compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015
Board meeting date for result approval to be intimated in due course

💡 This is a routine regulatory filing with no impact on company fundamentals; investors should monitor for the upcoming board meeting date to assess Q3 performance.

View All SALASAR Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue for H1 FY26 reached INR 727.33 Cr, a 26.38% increase YoY. Steel Structures grew 21.01% YoY to INR 434.87 Cr, while EPC Projects grew 32.19% YoY to INR 307.45 Cr. FY25 consolidated revenue was INR 1,447.43 Cr, up 19.78% from FY24.

Geographic Revenue Split

The company maintains a strong presence in both Indian and international markets. While specific regional percentages are not disclosed, international operations contribute significantly to the EPC and Steel Fabrication segments.

Profitability Margins

Operating Profit Margin declined to 5.82% in FY25 from 10.13% in FY24. Net Profit Margin fell to 1.32% in FY25 from 4.38% in FY24, primarily due to the consolidation of EMC Ltd, which reported a loss of INR 32.44 Cr. H1 FY26 PAT margin improved to 3.61% (INR 26.29 Cr PAT on INR 727.33 Cr revenue).

EBITDA Margin

Operating Profit Margin was 5.82% in FY25, down from 10.13% in FY24. This 425 bps compression was largely driven by a 23.36% increase in total expenses (INR 1,406.1 Cr) following the EMC Ltd acquisition.

Capital Expenditure

Property, Plant and Equipment (PPE) stood at INR 206.20 Cr as of September 30, 2025, compared to INR 204.43 Cr as of March 31, 2025, indicating ongoing maintenance and minor capacity investments.

Credit Rating & Borrowing

Infomerics reaffirmed a long-term rating of IVR A (Stable) and a short-term rating of IVR A1. Total consolidated borrowings as of September 30, 2025, were INR 341.26 Cr, with finance costs for H1 FY26 at INR 26.03 Cr.

⚙️ Operational Drivers

Raw Materials

Primary raw materials include galvanized and non-galvanized steel structures. Cost of revenue from operations accounted for 86.01% of total income in H1 FY26 (INR 625.55 Cr).

Raw Material Costs

Cost of revenue from operations was INR 1,173.36 Cr in FY25, representing 81.06% of total revenue. In H1 FY26, this increased to 86.01% of revenue, reflecting higher input costs or project mix shifts.

📈 Strategic Growth

Expected Growth Rate

26%

Growth Strategy

Growth is driven by the consolidation of EMC Ltd, expansion in power transmission and railway electrification sectors, and increasing international EPC project execution. The company leverages its integrated fabrication and EPC capabilities to secure large-scale infrastructure contracts.

Products & Services

Power transmission towers, railway electrification structures, telecom towers, and steel structures for infrastructure projects.

Brand Portfolio

Salasar

Market Expansion

Targeting growth in international markets and domestic infrastructure sectors including power transmission and railway electrification.

Strategic Alliances

Joint Ventures include Salasar RVNL JV, Salasar REW JV, Salasar Adorus Infra LLP, STEL-ME-JV, and Sikka Salasar JV.

🌍 External Factors

Industry Trends

The infrastructure sector is growing due to increased government focus on power transmission and railway modernization. Salasar is positioning itself as an integrated player to capture this demand.

Competitive Landscape

Operates in a competitive landscape with other EPC and steel fabrication firms, though specific competitors are not named.

Competitive Moat

Moat is built on a diversified product portfolio, established track record in EPC, and integrated manufacturing capabilities, which provide cost and execution advantages.

Macro Economic Sensitivity

Highly sensitive to government infrastructure spending and industrial development cycles in India and international markets.

Consumer Behavior

Not applicable as the company operates in B2B and B2G infrastructure sectors.

Geopolitical Risks

Exposure to international markets introduces risks related to trade barriers, regional instability, and varying regulatory environments.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to the Companies Act 2013, SEBI regulations, and sector-specific standards for power and railway infrastructure.

Taxation Policy Impact

Tax expenses for FY25 were INR 20.47 Cr on a PBT of INR 39.60 Cr.

Legal Contingencies

The Enforcement Directorate (ED) conducted an investigation against the company/promoters; however, no further orders have been passed, and operations remain undisrupted.