The fall in EBITDA and PAT was due to lower production volumes of iron ore and pellets, as well as a decrease in realizations of almost all products, except ferro alloys.

Profit before tax in Q3 FY25 was at Rs 191.76 crore, down 35.31% as against Rs 296.44 crore reported in the same period a year ago.

B.L. Agrawal, chairman and managing director, commenting on results, said, “GPIL has delivered consistent performance over the past nine months, despite experiencing lower realizations. On a quarterly basis, our financial results reflect the effects of decreased production volumes for iron ore and pellets, as well as lower sales realizations for finished products. As we approach the end of FY25, we remain hopeful about restoring our pellet production and sales to previous levels.

Our robust net cash position, combined with a well-planned capex strategy focused on substantially expanding our iron ore mining and pellet production capacities, provides a solid foundation for future growth. Improved operational efficiencies and cost savings from solar energy will further strengthen our performance. Moreover, the benefits of owning captive iron ore mines and producing high-grade pellets, coupled with the steadfast support from our stakeholders, position us for remarkable success in the years ahead.”

Godawari Power & Ispat has two captive iron ore mines, a pellet plant, and a vertically integrated steel plant in Raipur. The steel plant manufactures sponge iron, billets, MS rounds, HB wires, ferro alloys, and prefab structures.