Key Financial Figures (Amounts in ₹ Lakhs, unless stated)

Financial Performance:

  • Revenue from Operations: ₹75.69 (FY25: ₹50.57)
  • Profit Before Tax (PBT): ₹61.45 (FY25: ₹32.48)
  • Tax Expense: ₹16.82 (FY25: ₹65.07)
  • Profit After Tax (PAT): ₹44.63 (FY25: Loss of ₹32.60)
  • Total Income: ₹82.27 (FY25: ₹59.39)
  • Earnings Per Share (EPS): ₹7.69 (FY25: -₹5.62)

Financial Position as on 31st March 2026:

  • Paid-up Equity Share Capital: ₹58.05 (5,80,500 equity shares of ₹10 each fully paid-up)
  • Net Worth: ₹241.56
  • Total Assets: ₹245.01
  • Non-Current Assets: ₹172.71 (Includes Property, Plant & Equipment: ₹28.55, Investments: ₹109.73)
  • Current Assets: ₹72.31 (Includes Cash & Cash Equivalents: ₹71.85)
  • Current Liabilities: ₹3.45
  • Non-Current Liabilities: ₹0.00 (FY25: ₹49.98)

Dates of Action

  • AGM Date: Friday, 25th September 2026 at 10:00 AM
  • Record Date / Book Closure: From Saturday, 19th September 2026 to Friday, 25th September 2026 (both days inclusive)
  • E-Voting Period: From Monday, 21st September 2026 at 9:00 a.m. to Thursday, 24th September 2026 at 5:00 p.m.
  • Board Meeting for Results & Recommendations: Held on 02.09.2026
  • Financial Year End: 31st March 2026
  • Auditor's Report Date: 09.05.2026

Parties Involved

  • Stock Exchange: BSE Ltd.
  • Statutory Auditors: M/s. Manish N Jain & Co., Chartered Accountants (FRN 138430W)
  • Internal Auditors: M/s Sonu Sharma & Associates
  • Secretarial Auditors: M/s. Jaymin Modi & Co., Company Secretaries
  • Registrar and Transfer Agent: Satellite Corporate Services Pvt Ltd
  • Bankers: IDBI Bank, Civil Line Branch; Nagpur Nagrik Sahakari Bank Ltd, Itwari Branch
  • Scrutinizer for E-Voting: Jaymin Modi & Co., Practicing Company Secretaries Firm, Mumbai
  • E-Voting Service Provider: National Securities Depository Limited (NSDL)

Business Resolutions for AGM

Ordinary Business:

1. To receive, consider, and adopt the audited financial statements for FY ended 31.03.2026.

2. To reappoint Mr. Dinesh Agrawal (DIN: 00291086), who retires by rotation.

Special Business:

3. Approval for revision of remuneration of Mr. Dinesh Gangaram Agrawal, Non-Executive Non-Independent Director, to up to ₹25,00,000 per annum, effective 01.04.2026, even if it exceeds 1% of net profits due to inadequacy or absence of profits.

4. Approval for revision of remuneration of Mr. Harish Agrawal, Managing Director, to up to ₹25,00,000 per annum, effective 01.04.2026, even if it exceeds 1% of net profits due to inadequacy or absence of profits.

Purpose / Rationale for Remuneration Revision

The Board, based on the recommendation of the Nomination and Remuneration Committee, considered the directors' experience and prevailing industry standards for managerial remuneration. The increases are subject to shareholder approval.

Financial and Operational Impact (As Disclosed)

  • The company's revenue from operations increased, and it returned to profitability in FY26.
  • The revision in managerial remuneration is a cash outflow for the company. The financial impact of the remuneration is quantified at ₹25 lakhs per annum per director.
  • There is no change in the nature of the business (Iron & Steel Products).
  • No dividend was recommended for the year.
  • No transfers were made to any specific reserves.

Capital Structure Impact

  • No change in share capital during the year. The paid-up capital remains at ₹58.05 lakhs.
  • The resolutions for remuneration revision do not directly impact the capital structure.

Corporate Governance & Compliance

  • Board Meetings: 5 meetings held during the year.
  • Key Committees: Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee.
  • Directors' Responsibility Statement: Provided as per Section 134(5) of the Companies Act, 2013.
  • Secretarial Audit Report: Issued by M/s. Jaymin Modi & Co. with an observation that some intimations under the Companies Act, 2013 were filed after the lapse of the statutory time period, but with payment of additional fees.
  • Internal Financial Controls: Auditors reported that controls were adequate and operating effectively.
  • Related Party Transactions: Disclosed in the report and notes to accounts. All transactions were reported to be at arm's length and in the ordinary course of business.

Forward-Looking Statements

The Management Discussion and Analysis (MD&A) section discusses the positive outlook for the Indian steel industry, supported by economic growth and infrastructure development. It also outlines key risks, including volatility in steel prices and raw material costs.