Company and Document Details

40th Annual General Meeting Details

  • Date: Thursday, July 23, 2026 at 12:30 PM IST
  • Mode: Video Conferencing (VC)/Other Audio-Visual Means (OAVM)
  • Business to be transacted:

1. Adoption of audited financial statements for FY 2025-26

2. Re-appointment of Mr. Vishesh Chhibbar (DIN: 03553892) as Whole-time Director retiring by rotation

Document Distribution and Availability

  • Electronic dispatch of AGM notice and annual report commenced on June 25, 2026 to members with registered email addresses
  • Physical copies available upon request
  • Documents available on company website: www.ashirwadsteels.com
  • Book closure period: July 17, 2026 to July 23, 2026 (both days inclusive)

Voting Arrangements

  • Remote e-voting period: July 20, 2026 (9:00 AM) to July 22, 2026 (5:00 PM)
  • Voting eligibility cut-off date: July 16, 2026
  • CDSL appointed as e-voting service provider
  • Scrutinizer: Mr. Arvind Kumar Saraf, Chartered Accountant

Financial Performance Summary (FY 2025-26 vs FY 2024-25)

| Particulars | FY 2025-26 (₹ in Lakhs) | FY 2024-25 (₹ in Lakhs) |

| Income from Operations (including Other Income) | 416.34 | 429.94 |

| Profit before Exceptional Items and Tax | 267.59 | 309.73 |

| Tax Expense | 67.71 | 78.02 |

| Net Profit after tax | 202.02 | 229.66 |

| Other Comprehensive Income | (0.75) | (2.53) |

| Total Comprehensive Income | 201.27 | 227.13 |

| Basic and Diluted EPS (₹) | 1.62 | 1.84 |

Business Operations Update

  • Company has exited industrial operations (sponge iron and LPG bottling) except non-operational LPG plant at Raigarh, Chhattisgarh
  • Core activities: Investments in shares/securities (₹41.86 crore fair value) and lending business (₹16.55 crore loan book)
  • Fresh investments of ₹5.66 crore (net) and fresh lending of ₹6.95 crore (net) during FY26
  • No dividend recommended for FY26 to conserve resources

Share Capital Structure

  • Authorized Capital: ₹12.50 crore (1.25 crore equity shares of ₹10 each)
  • Issued, Subscribed and Paid-up Capital: ₹12.50 crore (1.25 crore equity shares of ₹10 each fully paid)
  • No change in share capital during the year

Board of Directors and Key Management

  • Mr. Pravin Kumar Chhabra: Chairman & Independent Director
  • Mr. Dalbir Chhibbar: Managing Director
  • Mrs. Sushma Chhibbar: Non-executive Director
  • Mr. Vishesh Chhibbar: Whole-time Director (seeking reappointment)
  • Mr. Baninder Singh Sahni: Independent Director
  • Mrs. Sonal Agarwal: Company Secretary & Compliance Officer
  • Mr. Chandra Prakash Srivastava: Chief Financial Officer

Regulatory and Compliance Matters

  • BSE imposed fines totaling ₹1,01,480 for non-submission of Secretarial Compliance Report in PDF format (filed July 2, 2025)
  • Additional BSE fine of ₹2,360 for delayed submission of annual report
  • SOP fines of ₹6,10,060 imposed for various non-compliances in previous years
  • Promoter shareholding currently frozen by BSE due to non-payment of fines
  • Company engaged with BSE to resolve outstanding matters

Corporate Governance

  • Board met 4 times during FY26 (May 21, 2025; August 8, 2025; November 6, 2025; February 6, 2026)
  • All directors attended all board meetings and last AGM
  • Audit Committee, Nomination & Remuneration Committee, and Stakeholders Relationship Committee functional
  • No shareholder complaints received during FY26

Contingent Liabilities

  • Bank Guarantee of ₹46.00 lakh issued to Central Coalfields Ltd (renewed until March 31, 2027)
  • Money recovery suit of ₹27.05 lakh plus interest in District Court, Nalgonda, Telangana

Related Party Transactions

  • Rent payment to Chhibbar Business & Fiscal Pvt. Ltd.: ₹9.00 lakh
  • Director remuneration: Mr. Dalbir Chhibbar (₹12.00 lakh), Mr. Vishesh Chhibbar (₹7.80 lakh)
  • Key managerial personnel remuneration: CFO (₹4.16 lakh), Company Secretary (₹3.90 lakh)
  • Sitting fees to independent directors: ₹0.40 lakh

Other Significant Disclosures

  • Company considering NBFC registration (shareholder approval obtained via postal ballot in November 2022)
  • LPG bottling plant at Raigarh remains non-operational and for sale
  • No material changes or commitments after March 31, 2026
  • No significant orders passed by regulators/courts affecting going concern status
  • Internal financial controls considered adequate by management and auditors

Investor Contact Information

  • RTA: Niche Technologies Pvt. Ltd., Kolkata

#Tags: #AshirwadSteels #AGM2026 #FY2026Results #SEBIDisclosure #RegulatoryCompliance #FinancialUpdate #Neutral