Bihar Sponge Iron 44th AGM Notice and FY26 Results

AGM Date: 28 September 2026 at 3:30 PM IST
Record Date: 21 September 2026 (cut-off date for e-voting)
Remote E-voting Period: 25 September 2026 (9:00 AM) to 27 September 2026 (5:00 PM)
Book Closure: 22 September 2026 to 28 September 2026 (both days inclusive)

Stock Exchange: BSE Limited
Registrar & Transfer Agent: Beetal Financial & Computer Services Pvt. Ltd.
Statutory Auditors: M/s. Doogar & Associates
Cost Auditors: M/s. M.K. Singhal & Co.
Secretarial Auditors: M/s. Soniya Gupta & Associates
Related Party: Moderate Leasing & Capital Services Limited (promoter group company holding 49.10% shares)

1. Adoption of audited financial statements for FY ended 31 March 2026

2. Re-appointment of Mr. Jayesh Modi (DIN: 02849637) as director retiring by rotation

3. Approval of material related party transactions with Moderate Leasing & Capital Services Limited

4. Ratification of remuneration of Cost Auditors for FY 2026-27

Related Party: Moderate Leasing & Capital Services Limited (NBFC, promoter group company)
Transaction Types: Consultancy charges (₹3.60 crore) and inter-corporate loan (₹46.40 crore)
Total Value: ₹50 crore
Previous FY Transactions: ₹27.82 crore with same party in FY 2025-26
Relationship: Moderate Leasing holds 49.10% shares in Bihar Sponge Iron
Interest Disclosure: Mr. Umesh Kumar Modi has 90% indirect shareholding in Moderate Leasing

Plant was shut since 9 August 2013 due to coal supply stoppage by Central Coalfields Limited
Facility User Agreement with Vanraj Steels Private Limited terminated in February 2026
New Facility User Agreement with Amalgam Steel & Power Limited signed on 23 March 2026
Renovation and revamping work of plant and railway siding in progress
Commercial operations to commence after completion of renovation work

| Parameter | FY 2025-26 (₹ lakhs) | FY 2024-25 (₹ lakhs) |

| Sales (net of GST) | 24,547.73 | 31,941.64 |

| Other Income | 2,746.56 | 2,990.62 |

| Profit before Interest, Depreciation & Exceptional Items | 1,513.91 | 1,442.31 |

| Depreciation | 381.63 | 402.88 |

| Profit before Tax | 1,132.28 | 1,039.43 |

| Net Profit | 1,133.23 | 1,039.70 |

Authorized Capital: ₹1,000 crore (100,000,000 equity shares of ₹10 each)
Paid-up Capital: ₹902.05 crore (90,205,403 equity shares of ₹10 each fully paid)
Promoter Holding: 69.23% as of 31 March 2026
Moderate Leasing Holding: 49.10% (4,42,93,633 shares)

1. JVAT Demand FY 2010-11: ₹81.40 lakh (net of ₹134.89 lakh paid)

2. CST Demand FY 2010-11: ₹30.96 lakh (net of ₹30.55 lakh paid)

3. VAT Demand FY 2013-14: ₹34.91 lakh (under appeal)

4. Water Charges Demand: ₹5,070.02 lakh (inclusive of interest)

5. SECL Penalty: ₹215.28 lakh (for short lifting of coal, matter in court)

6. Civil Court Claims: ₹79.23 lakh (net of provision of ₹210.95 lakh)

7. Railway Demurrage: ₹79.77 lakh

Board Composition: 11 directors (1 non-executive chairman, 1 whole-time director, 6 independent directors)
Board Meetings: 4 meetings held during FY 2025-26
Attendance: Mr. Umesh Kumar Modi attended 4/4 meetings, Mrs. Kumkum Modi attended 2/4 meetings
CSR Expenditure: ₹19.99 lakh spent on promotion of education in rural areas

Statutory auditors issued qualified opinion noting:

1. Interest on soft loan from Jharkhand government (₹11894.26 lakh) provided only to extent of ₹2746.19 lakh

2. No provision for penalty recovered by SECL (₹215.28 lakh) pending court outcome

3. Interest on unsecured loans from promoters not provided pending settlement

4. Liabilities recoverable from plant operator under facility user agreement