Financial Performance Highlights

For the year ended December 31, 2025:

  • Total Income: INR 3,666.265 million (Previous year: INR 3,936.041 million)
  • Revenue from operations: ₹35,528.68 lakhs (2024: ₹38,413.65 lakhs)
  • Profit before tax: INR 113.544 million (Previous year: loss of INR 71.655 million)
  • Net profit: INR 103.139 million (Previous year: loss of INR 53.821 million)
  • Net profit ratio: 2.90% (2024: -1.40%)
  • Return on Equity: 5.02% (2024: -2.61%)
  • Current Ratio: 1.32 times (2024: 1.25 times)

Strategic Developments and Acquisition

  • Board approved and completed acquisition of 100% equity share capital of John Cockerill Metals International SA, Belgium from parent company John Cockerill SA for €29.67 million (approximately ₹31,616 lakhs).
  • The acquisition became effective January 1, 2026, making John Cockerill Metals International SA a wholly-owned subsidiary.
  • Payment terms: €5 million payable by March 31, 2026 and remaining €24.67 million by January 1, 2031.
  • Objective is to consolidate and strengthen metal business operations within the John Cockerill Group.

Order Book and Business Development

  • Secured significant orders during the year totaling over INR 8,600 million from major clients including JSW JFE Electrical Steel, Tata Steel, Godawari Power & Ispat, ArcelorMittal Nippon Steel, and Jindal Steel Odisha.
  • Order book as of December 31, 2025: INR 11,869 million, representing 74% growth over previous year.
  • Significant portion of orders in early stages (engineering, design, mobilization).

Dividend Declaration

  • Board recommended final dividend of INR 7.00 per equity share (70%) for FY2025, subject to shareholder approval at 40th AGM.
  • Record date: March 6, 2026
  • Company has complied with dividend distribution policy available on website.

Related Party Transactions

  • Significant RPTs disclosed totaling ₹1,172.25 lakhs in shared service expenses and ₹239.11 lakhs in goods sales.
  • Key managerial personnel compensation: ₹768.93 lakhs (2024: ₹480.93 lakhs)
  • Company seeks shareholder approval for FY26 RPTs including providing indemnity for parent company guarantee of CNY 75 million and various transactions with group entities.

Contingent Liabilities and Legal Matters

  • Service tax demands: ₹23,622.24 lakhs (2024: ₹22,752.87 lakhs)
  • Income tax demands: ₹118.61 lakhs (2024: ₹118.61 lakhs)
  • Received arbitration notice from customer seeking relief/compensation for alleged non-performance of Cold Rolling Mill
  • Management confident of defending its position in arbitration proceedings

40th Annual General Meeting Agenda

  • Date: Thursday, June 25, 2026 at 2:30 PM IST
  • Venue: Navi Mumbai Marriott Hotel with hybrid participation option
  • Agenda includes adoption of financial statements, dividend declaration, re-appointment of directors, approval of material RPTs, amendment to Share Purchase Agreement, issuance of preference shares, and investments/loans/guarantees limit of ₹1,000 crores.

Management Changes

  • Mr. Michael Kotas resigned as Managing Director effective July 31, 2025
  • Mr. Frederic Martin appointed as Managing Director effective August 1, 2025
  • Mr. Haresh Vala resigned as Company Secretary effective September 30, 2025
  • Ms. Nidhi Narayan Salampuria appointed as Company Secretary effective December 19, 2025
  • Mr. Marc Dumont appointed as Chief Financial Officer effective October 1, 2024