Board Meeting Details

The Board of Directors meeting was held on May 25, 2026, from 3:00 PM to 5:00 PM, where the following items were approved:

  • Audited Financial Results for quarter and year ended March 31, 2026 with Statutory Auditor's Report
  • Audited Financial Statement for Financial Year 2025-26
  • Recommended final dividend on Equity Shares @5% i.e. ₹0.50 per share of face value ₹10 each for FY ended March 31, 2026

Financial Results Overview

Income Statement (Amounts in ₹ lakhs):

  • Revenue from Operations: FY26: ₹100,696.37; Q4 FY26: ₹25,059.41
  • Other Income: FY26: ₹410.14; Q4 FY26: ₹390.33
  • Total Income: FY26: ₹101,086.70; Q4 FY26: ₹25,449.74
  • Profit Before Tax: FY26: ₹6,635.11; Q4 FY26: ₹1,210.10
  • Tax Expense: FY26: ₹1,653.26; Q4 FY26: ₹422.25
  • Profit for the Year: FY26: ₹4,981.84; Q4 FY26: ₹787.85
  • Earnings Per Share (Basic & Diluted): FY26: ₹7.17; Q4 FY26: ₹1.20

Balance Sheet Highlights (as of March 31, 2026):

  • Equity Share Capital: ₹8,356.77 lakhs (face value ₹10 each)
  • Other Equity: ₹27,973.07 lakhs
  • Total Equity: ₹36,329.84 lakhs
  • Total Assets: ₹60,024.54 lakhs
  • Current Assets: ₹51,262.15 lakhs
  • Non-current Assets: ₹8,762.39 lakhs

Cash Flow Statement (FY26):

  • Net cash from operating activities: ₹3,209.20 lakhs
  • Net cash used in investing activities: ₹(4,199.29) lakhs
  • Net cash from financing activities: ₹11,230.08 lakhs
  • Net cash generated during the year: ₹10,239.99 lakhs

Dividend Recommendation

The Board recommended a final dividend of 5% i.e. ₹0.50 per equity share of face value ₹10 each for FY 2025-26, subject to shareholder approval at the ensuing Annual General Meeting.

IPO Completion Details

The company completed its Initial Public Offer (IPO) comprising:

  • Fresh issue of 1,46,50,000 Equity Shares of face value ₹10 each aggregating to ₹17,873.00 lakhs
  • Offer for sale of 62,50,000 Equity Shares of face value ₹10 each aggregating to ₹7,625.00 lakhs

Shares were listed on BSE and NSE on March 19, 2026.

IPO Proceeds Utilization (as of March 31, 2026):

| Purpose | Amount as per Offer Document (₹ lakhs) | Utilized (₹ lakhs) | Unutilized (₹ lakhs) |

| Capex for Expansion (Panchmahal Facility) | 1,857.00 | - | 1,857.00 |

| Repayment/Prepayment of Borrowings | 9,800.00 | - | 9,800.00 |

| General Corporate Purposes (GCP) | 4,464.00 | 4,420.61 | 43.39 |

| Offer for Sale (OFS) | 6,878.00 | 6,862.50 | 15.50 |

| Issue Expenses | 2,499.00 | 2,122.72 | 376.28 |

| Total | 25,498.00 | 13,405.83 | 12,092.17 |

Unutilized proceeds include ₹11,657.00 lakhs temporarily invested in Fixed Deposits, ₹150.95 lakhs in Monitoring Account, and ₹284.15 lakhs in Escrow Account.

Business Segment

The company is primarily engaged in manufacturing of long and flat stainless steel products comprising billets, forging ingots, rolled black bar, rolled bright bar, flat & patti and other ancillary products, constituting a single reportable segment.

Labor Code Impact Assessment

The company assessed the impact of the four new Labour Codes notified by Government of India on November 21, 2025. Based on current assessment, there is no material impact on the financial results for the quarter and year ended March 31, 2026, and no consequent adjustments have been made.