New Delhi: SG Mart Ltd, a B2B marketplace focused on construction and industrial materials, has reported a steep 62% year on year (YoY) drop in consolidated net profit for Q3FY26 as demand for steel products, which form a core part of its business, weakened during the quarter.
According to the company, it witnessed a decline in profits despite revenues reaching Rs.164 crore, an increase of 23% YoY. Besides softer demand, lower steel prices also affected margins, impacting its earnings.
SG Mart, which offers almost 6,500 SKUs for various construction commodities, has construction steel products like HR Sheets, Welding Rods, TMT Rebars and Mesh Nets, as the leading product categories, besides venturing into tiles, cement, bath fittings, laminates and paints. The company has also forayed into renewables by supplying solar structures for EPC companies, real estate developers and OEMs as well.
The company is highly vulnerable to the cyclical nature of demand, despite having more than 2,340 customers and 438 vendors on its platform.
“Q3FY26 was a challenging quarter due to pressure on steel prices and lack of demand in downstream steel products in October and November. However, these pressures are largely transient. With steel prices showing signs of recovery and demand conditions improving, we are confident of delivering a significantly better performance in Q4FY26. Our focus remains on disciplined inventory management, margin protection, and scalable growth.” SG Mart continues to strengthen its sourcing capabilities and customer relationships to drive sustainable growth over the medium to long term.” Mr Amit Thakur, Executive Director, SG Mart, said in a press release to the bourses.
