Kalyani Steels Q2 Net Profit Up 28% YoY, Chairman Resigns

Summary of Key Information:

Reporting Period (Quarter/Year): Quarter and Half Year Ended September 30, 2026

Nature of Filing / Announcement: Outcome of Board Meeting under Regulation 30 of SEBI LODR Regulations

Audit Opinion:

Un-modified opinion (clean)

Auditor’s Comment:

Auditors drew attention to the limited review of financial results of joint operation Hospet Steels Limited, whose results reflect total assets of ₹380.70 million as at September 30, 2026, total revenue of ₹Nil, net profit/(loss) after tax of ₹Nil and total comprehensive income/loss of ₹Nil. The Company's share of expenditure for the quarter and six months ended September 30, 2026 is ₹201.43 million and ₹396.48 million, respectively and net cash outflow of ₹19.56 million for the six months ended September 30, 2026.

Key Financial Highlights [₹ in Million]:

Standalone Results:

| Revenue from Operations | 4,943.81 | 4,560.69 | +8.4% | 9,589.61 | 8,988.36 | +6.7% | 18,456.07 |

| Other Income | 161.01 | 141.95 | +13.4% | 310.42 | 284.66 | +9.1% | 564.40 |

| Total Income | 5,104.82 | 4,702.64 | +8.6% | 9,900.03 | 9,273.02 | +6.8% | 19,020.47 |

| Net Profit | 792.17 | 618.21 | +28.1% | 1,468.23 | 1,227.86 | +19.6% | 2,551.37 |

| EPS (₹) | 18.15 | 14.16 | +28.2% | 33.63 | 28.13 | +19.6% | 58.45 |

Consolidated Results:

| Revenue from Operations | 4,943.81 | 4,560.69 | +8.4% | 9,589.61 | 8,988.36 | +6.7% | 18,456.07 |

| Other Income | 169.76 | 151.56 | +12.0% | 327.80 | 303.89 | +7.9% | 601.21 |

| Total Income | 5,113.57 | 4,712.25 | +8.5% | 9,917.41 | 9,292.25 | +6.7% | 19,057.28 |

| Net Profit | 798.66 | 625.36 | +27.7% | 1,481.15 | 1,242.18 | +19.2% | 2,578.67 |

| EPS (₹) | 18.30 | 14.33 | +27.7% | 33.93 | 28.46 | +19.2% | 59.07 |

Standalone Balance Sheet Position as at September 30, 2026:

Cash and Cash Equivalents: ₹3,812.51 million (vs ₹766.41 million as at March 31, 2026)
Bank Balances other than cash equivalents: ₹3,649.45 million (vs ₹6,973.09 million as at March 31, 2026)
Total Debt: ₹5,298.82 million (short-term borrowings)
Other Equity: ₹21,805.77 million (vs ₹20,777.49 million as at March 31, 2026)
Total Assets: ₹31,165.51 million (vs ₹29,904.53 million as at March 31, 2026)

Consolidated Balance Sheet Position as at September 30, 2026:

Cash and Cash Equivalents: ₹3,814.02 million
Bank Balances other than cash equivalents: ₹4,080.75 million
Total Debt: ₹5,298.82 million (short-term borrowings)
Other Equity: ₹21,913.77 million
Total Assets: ₹31,231.70 million

Segment-wise Performance:

The Company manufactures Forging and Engineering quality carbon and alloy steels which is a single segment in accordance with Ind AS 108.

Corporate Actions:

Not Specified

Management Changes:

1. Resignation of Mr. B.N. Kalyani: Founder and Chairman resigned as Chairman and Non-Executive Non-Independent Director effective close of business hours on October 28, 2026, after 53 years of service.

2. Appointment of Mr. B.N. Kalyani as Chairman Emeritus: Effective October 29, 2026, to continue benefiting from his experience and expertise in an advisory role.

3. Appointment of Mr. Amit B. Kalyani as Chairman: Effective October 29, 2026. Mr. Amit B. Kalyani is currently Vice-Chairman and Joint Managing Director of Bharat Forge Limited and has been with the Kalyani Group for over 25 years.

4. Appointment of Ms. Geeta Shamrao Jadhav as Chief Human Resource Officer (CHRO): Effective October 28, 2026. Ms. Jadhav has over 25 years of experience including roles at Dr. Reddy's Laboratories Limited, Tata Power Limited, Kirloskar Brothers Limited and SRF Limited.

Other Significant Information:

The financial results include the Company's proportionate share of income and expenditure in joint operation Hospet Steels Limited.
The consolidated financial results include results of subsidiary DOM Realties Private Limited (100% ownership).
Previous year included exceptional item of ₹79.26 million related to impact of Labour Code implementation.
Manufacturing expenses include stores and spares consumed, job work manufacturing charges, power and fuel, repairs etc.