CHASE BRIGHT STEEL LTD

Board Meeting Details

The Board meeting was held on 14th November, 2026, commencing at 03:30 p.m. and concluding at 04:00 p.m. The Board approved the unaudited financial results for the quarter and half year ended 30th September, 2026.

Financial Results Summary

For Quarter Ended 30th September, 2026:

  • Total Revenue: ₹344.25 lakhs
  • Profit before tax: ₹334.07 lakhs
  • Profit after tax: ₹334.07 lakhs
  • Basic & Diluted EPS: ₹10.80 per share (face value ₹10 each)

For Half Year Ended 30th September, 2026:

  • Total Revenue: ₹358.51 lakhs
  • Profit before tax: ₹330.52 lakhs
  • Profit after tax: ₹330.52 lakhs
  • Basic & Diluted EPS: ₹10.80 per share (face value ₹10 each)

Comparative Figures (Quarter Ended 30th September, 2025):

  • Total Revenue: ₹149.87 lakhs
  • Profit before tax: ₹-3.36 lakhs
  • Profit after tax: ₹-3.36 lakhs

Statement of Assets and Liabilities (as at 30th September, 2026)

Assets:

  • Non-current Assets: ₹237 lakhs (Plant Property and Equipment: ₹225 lakhs, Investments: ₹0.06 lakhs, Other Financial Assets: ₹0.06 lakhs)
  • Current Assets: ₹203.38 lakhs (Trade receivables: ₹147.67 lakhs, Cash and bank balances: ₹226 lakhs, Loans: ₹0.53 lakhs, Current Tax Assets: ₹36.98 lakhs, Other Current Assets: ₹15.94 lakhs)
  • Total Assets: ₹205.75 lakhs

Equity and Liabilities:

  • Equity Share Capital: ₹167.50 lakhs
  • Other Equity: ₹-1,284.08 lakhs
  • Total Equity: ₹-1,116.58 lakhs
  • Non-current Liabilities: ₹143.87 lakhs (Provisions: ₹4.17 lakhs, Borrowings: ₹139.70 lakhs)
  • Current Liabilities: ₹1,178.46 lakhs (Borrowings: ₹656.50 lakhs, Trade payables: ₹431.33 lakhs, Other financial liabilities: ₹76.19 lakhs, Provisions: ₹3.99 lakhs, Other Current Liabilities: ₹10.45 lakhs)
  • Total Equity and Liabilities: ₹205.75 lakhs

Cash Flow Statement

For Period Ended 30th September, 2026:

  • Net Cash from Operating Activities: ₹-84.47 lakhs
  • Net Cash used in Investing Activities: ₹-0.40 lakhs
  • Net Cash used in Financing Activities: ₹78.26 lakhs
  • Net Increase in Cash and Cash Equivalents: ₹-6.61 lakhs
  • Cash and Cash Equivalents at beginning: ₹8.86 lakhs
  • Cash and Cash Equivalents at end: ₹2.26 lakhs

Auditor's Limited Review Report

The independent auditors (ASKA & CO, FRN: 122063W) issued a limited review report conducted in accordance with SRE 2410. The review provides moderate assurance that the financial statements are free from material misstatement.

Emphasis of Matter Notes

Note 11 - Going Concern:

The Company has significant accumulated losses as at 30th September, 2026 which are higher than its total reserves and capital, although the Company has made net profit for the current quarter/half year. Current liabilities exceed current assets. Most workers/staff have left employment as the Company does not have any manufacturing facility of its own. These conditions indicate material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern. However, management has prepared the financial results on a going concern basis based on their assessment of future business plans, available sources of finance, and other mitigating factors.

Note 20 - Creditor Write-back:

During the quarter/half year ended 30th September, 2026, the Company has written back creditor balances amounting to ₹3,44,24,772 (₹3.44 crore) which are no longer payable, and has recognised the same as income in the Statement of Profit and Loss under 'Other Income'. These balances have been written back voluntarily on the basis of management's assessment and digital communication/confirmation received from few parties.