Summary of Key Information:

Reporting Period (Quarter/Year): Quarter and Half Year ended 30th September, 2026 (Q2 FY27)

Nature of Filing / Announcement: Outcome of Board Meeting - Unaudited Financial Results

Audit Opinion:

Limited Review Report with qualified observation - The auditors noted that deferred tax liability of ₹5 lakhs (quarter) and ₹170 lakhs (half year) was adjusted against Securities Premium Account pursuant to a court order, contrary to Ind AS-12 'Income Taxes'.

Auditor’s Comment:

The auditors qualified that had the deferred tax liability been accounted for pursuant to Ind AS-12, net profit and total comprehensive income after tax for the quarter and half year would have been lower by ₹5 lakhs and ₹170 lakhs respectively.

Key Financial Highlights [₹ in lakhs]:

Standalone Results:

Quarter Ended 30.09.26:

  • Revenue from Operations: ₹89,612 (vs ₹72,316 in Q2 FY26 - +24% YoY)
  • Total Income: ₹90,332
  • Profit before Tax: ₹8,361
  • Tax Expense: ₹1,824 (Current Tax)
  • Profit after tax: ₹6,537 (vs ₹6,157 in Q2 FY26)
  • EPS (Basic & Diluted): ₹3.65

Half Year Ended 30.09.26:

  • Revenue from Operations: ₹1,92,812 (vs ₹1,76,024 in H1 FY26 - +10% YoY)
  • Total Income: ₹1,94,200
  • Profit before Tax: ₹17,635
  • Tax Expense: ₹3,971 (Current Tax)
  • Profit after tax: ₹13,664 (vs ₹15,297 in H1 FY26)
  • EPS (Basic & Diluted): ₹7.63

Year Ended 31.03.26 (Audited):

  • Revenue from Operations: ₹3,47,866
  • Profit after tax: ₹33,314
  • EPS: ₹18.60

Financial Position as at 30.09.26 (Unaudited):

  • Property, Plant and Equipment: ₹2,85,689
  • Capital Work-in-progress: ₹34,892
  • Inventories: ₹50,722
  • Trade Receivables: ₹20,969
  • Cash and Cash Equivalents: ₹15,206
  • Bank Balances (other): ₹25,081
  • Total Assets: ₹5,03,324
  • Equity Share Capital: ₹17,908
  • Other Equity: ₹3,50,769
  • Total Equity: ₹3,68,677
  • Borrowings (Non-current): ₹26,268
  • Borrowings (Current): ₹33,489
  • Total Borrowings: ₹59,757

Cash Flow for Half Year Ended 30.09.26:

  • Cash from Operating Activities: ₹21,371
  • Cash used in Investing Activities: ₹(12,590)
  • Cash from Financing Activities: ₹4,986
  • Net Change in Cash: ₹13,767

Segment-wise Performance:

The company operates in one segment only - "Iron & Steel" - and therefore has only one reportable segment in accordance with IND AS 108.

Corporate Actions:

Not Specified

Other Significant Information:

  • The company has opted for the new tax regime under the Income Tax Act, 2025 effective 1st April, 2026, making tax exemption under section 80-IA unavailable
  • Coal extraction from Bhaskarpara Coal Mine was ~2.81 lakh MT during the quarter
  • Annual coal extraction target for FY2027 is 1.2 Mn tonnes (vs 1.0 Mn tonnes in previous financial year)
  • The deferred tax liability adjustment against Securities Premium Account was done in terms of a court order