Detailed Summary

1. Quarterly Financial Results Approval

The Board of Directors at their meeting held on July 27, 2026 (commenced at 3:00 PM and concluded at 6:20 PM) approved the unaudited financial results for the quarter ended June 30, 2026.

Standalone Financial Results (Rs. in Lakhs):

  • Revenue from operations: 114,566.71 (Q1 FY27) vs 112,777.84 (Q1 FY26)
  • Other income: 1,830.99 (Q1 FY27) vs 682.46 (Q1 FY26)
  • Total income: 116,397.70 (Q1 FY27) vs 113,460.30 (Q1 FY26)
  • Total expenses: 99,916.25 (Q1 FY27) vs 91,823.01 (Q1 FY26)
  • Profit before tax: 16,481.45 (Q1 FY27) vs 21,637.29 (Q1 FY26)
  • Tax expense: 4,114.72 (Q1 FY27) vs 4,257.86 (Q1 FY26)
  • Net profit: 12,366.74 (Q1 FY27) vs 17,379.43 (Q1 FY26)
  • Basic EPS: ₹5.13 (Q1 FY27) vs ₹7.20 (Q1 FY26)
  • Paid-up equity share capital: 24,128.09 (Face value ₹10 per share)

Consolidated Financial Results: Include results of wholly owned subsidiary Suryalaxmi Technologies Private Limited, which contributed total comprehensive income of ₹0.52 lakh for the quarter.

The financial results were reviewed by the Audit Committee and approved by the Board. M/s. Maroti & Associates issued a limited review report with unmodified opinion on both standalone and consolidated financial results.

2. Resignation of Statutory Auditors

M/s. Maroti & Associates, Chartered Accountants (Firm Registration No. 322770E) resigned as Statutory Auditors effective July 27, 2026, after close of business hours.

Reasons for resignation: Increased scale and complexity of audit, firm's resource allocation priorities, professional commitments, and commercial considerations.

Key dates:

  • Appointment date: September 29, 2022 (for 5 years until FY 2026-27)
  • Resignation letter date: July 21, 2026
  • Effective cessation: July 27, 2026

The auditors completed the statutory audit for FY 2025-26 (issued report on May 5, 2026) and issued the limited review report for Q1 FY27 before resignation. The Audit Committee and Board noted the resignation and found no concerns or issues raised by the auditors. The resignation was not due to any dispute or suppression of information by management.

3. Appointment of New Statutory Auditors

The Board appointed M/s. Singhi & Co., Chartered Accountants (Firm Registration No. 302049E) as the new Statutory Auditors subject to member approval at the ensuing Annual General Meeting.

Profile of new auditors: Among the 7th largest assurance and advisory firms in India with 85 years of legacy, pan-India presence, expertise in statutory audit, Ind AS, internal audit, risk management, and taxation services.

The appointment fills the casual vacancy caused by the resignation of Maroti & Associates and will be effective until the ensuing AGM.

4. Appointment of Chief Financial Officer

The Board appointed Mr. Amit Jalan as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective July 27, 2026.

Profile: Seasoned finance leader with 25+ years of experience in finance management, corporate planning, cost control, audit, budgeting, forecasting, Ind AS accounting, profitability analysis, and risk management. He was previously serving as Chief Accounts Officer (CAO) of the company since incorporation.

5. Additional Information

The company is primarily engaged in manufacturing steel and allied products including pellet, sponge iron, Ingots, TMT Bars and power generation.

The financial results are prepared in accordance with Indian Accounting Standards (Ind AS) and will be published in newspapers as required by Regulation 47. Results are available on BSE, NSE, and company websites.

Regulatory references: Regulation 30, 33, and 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015; SEBI Circular CIR/CFD/CMD1/114/2019 dated October 18, 2019; Companies Act, 2013 Section 203.