Meeting Details

The 40th Annual General Meeting of Ashirwad Steels & Industries Limited was held on Thursday, 23rd July, 2026 at 12:30 P.M. through Video Conferencing/Other Audio Visual Means (OAVM) as per the framework authorized by the Ministry of Corporate Affairs (MCA) and SEBI. The meeting commenced at 12:30 P.M. and concluded at 1:18 P.M. (IST). The meeting was deemed to be held at the Registered Office of the Company at 6, Waterloo Street, 5th Floor, Room No. 506, Kolkata – 700 069.

Attendance

Directors and Key Managerial Personnel Present:

  • Mr. Pravin Kumar Chhabra, Chairman and Independent Director
  • Mr. Dalbir Chhibbar, Managing Director (Chairman for this AGM)
  • Mrs. Sushma Chhibbar, Non-Executive Director
  • Mr. Vishesh Chhibbar, Whole-time Director
  • Mr. Baninder Singh Sahni, Non-Executive Independent Director
  • Mr. Chandra Prakash Srivastava, CFO
  • Mrs. Sonal Agarwal, Company Secretary

Other Attendees:

  • Mr. Chandra Kumar Chandak, representing Statutory Auditors M/s. C.K. Chandak & Co.
  • Mrs. Sweta Gupta, representing Secretarial Auditors M/s. RSG & Associates, Company Secretaries
  • Mr. Arvind Kumar Saraf, the Scrutinizer

Meeting Proceedings

Mr. Dalbir Chhibbar, Managing Director, was requested by the Board to conduct the proceedings as Chairman. The Chairman confirmed that requisite quorum was present and declared the meeting commenced.

All documents including Notice of AGM (dated 22nd May, 2026), Board Report, Audited Financial Statements, Auditor's Report, and Secretarial Audit Report for FY 2025-26 had been circulated to shareholders electronically or physically as per Regulation 36(1)(b) of SEBI LODR Regulations, 2015. These were taken as read with members' permission.

Business Updates

LPG Bottling Plant Status: The Company's LPG Bottling Plant at Raigarh continues to remain inoperative as commercial operations are not remunerative or economically viable. Although members approved disposal through Postal Ballot, no suitable buyer has been found. The plant has only scrap value while the land retains commercial value. Efforts to find a buyer continue.

Business Operations: The Company continued its business of investment in shares/securities and lending funds during the year. The Board could not identify or start any economically viable trading or industrial business despite all-out efforts.

Financial Performance FY 2025-26

  • Income from operations: ₹206.68 lakhs (previous year: ₹180.45 lakhs)
  • Other income (mainly interest on bank FDs, loans, investments): ₹209.65 lakhs (previous year: ₹249.49 lakhs)
  • Total income: ₹416.34 lakhs (previous year: ₹429.94 lakhs)
  • Total post-tax comprehensive income: ₹201.27 lakhs (including other comprehensive loss of ₹0.75 lakhs) (previous year: ₹227.13 lakhs)
  • Total investments (equity, shares, bonds, mutual funds, debentures): ₹4,186.49 lakhs (previous year: ₹3,620.38 lakhs)
  • Total amount lent (as on 31.03.2026): ₹1,655.00 lakhs (previous year: ₹960.00 lakhs)

The Company continues careful lending operations to minimize risks. The Board assured continued efforts to improve performance.

Auditor Reports

Both Statutory Auditors and Secretarial Auditors gave unmodified opinions without any materially significant qualifications.

Business Transacted

The following business from AGM Notice dated 22-05-2026 was transacted, subject to final electronic vote count by Scrutinizer:

1. Ordinary Resolution: To receive, consider and adopt Audited Financial Statements for FY ended 31st March, 2026 including Balance Sheet, Statement of Profit & Loss, Statement of Changes in Equity, Statement of Cash Flow, together with Auditors' Reports and Board Report

2. Ordinary Resolution: To re-appoint Mr. Vishesh Chhibbar (DIN: 03553892) as Whole-time Director who retires by rotation and is eligible for re-appointment

Voting Process

Remote e-voting facility was available from 20-07-2026 (9:00 A.M.) to 22-07-2026 (5:00 P.M.). Online voting was also arranged during the AGM for shareholders who hadn't voted remotely.

The Scrutinizer will submit his report after meeting conclusion. Voting results will be announced within 48 hours of receipt of Scrutinizer's Report and made available on company website (www.ashirwadsteels.com) and CDSL website (www.evotingindia.com).

Queries and Closure

No specific queries were received in advance from shareholders. The Chairman addressed queries raised during the meeting within time constraints, with option for written queries to be responded to later.

The Chairman thanked shareholders, stakeholders, employees, Board colleagues, and Auditors for their support and contributions. The meeting was formally concluded at 1:18 P.M. with the online voting portal deactivated at that time.