* Everest Kanto Cylinder Limited (EKC) held an earnings conference call on November 18, 2025, to discuss the unaudited financial results for the quarter and six months ended September 30, 2025. * Consolidated revenue for Q2 FY26 stood at ₹360.4 crore, with an EBITDA of ₹42.9 crore (11.9% margin) and a PAT of ₹13.7 crore. * Standalone revenue for Q2 FY26 was ₹232.4 crore, with margins improving to 11.2% compared to 9.3% in the same period last year. * The CNG segment in India experienced a short-term softness due to GST transition in the automotive industry, but demand is normalizing. * The US business saw lower dispatches but healthy performance for the first half; margins were affected by higher operating costs. * New facilities in Mundra and Egypt are progressing as planned, with the Egypt plant preparing for trial production shortly and Mundra at an advanced stage. * EKC is focusing on CNG and industrial gases as growth drivers, with new opportunities arising in sectors like defence, solar, and semiconductors. * The company expects standalone revenue of ₹900 crore to ₹1,000 crore. * Capex spent on Mundra is around ₹130 crore with a balance of ₹30 crore, and on Egypt, ₹86 crore with a balance of around ₹40 crore. Commercialization is expected by January 2026 for Egypt and March 2026 for Mundra. * The order book for the U.S. subsidiary is approximately $80 million, with an execution timeline of 12-18 months. * The company is pursuing resolution of a GST case and is hopeful for a positive outcome. * Management expects EBITDA margin guidance of 12% to 14%. * The company has an order book of approximately ₹1,000 crore across all locations, executable over the next year. * Management Comment: Puneet Khurana mentioned that the company remains confident about future growth perspectives with growing opportunities across clean energy and industrial applications and great visibility in the order pipeline.
