Unaudited Financial Results for Q1 FY27
The Board approved the unaudited financial results for the quarter ended June 30, 2026. Key financial figures (all amounts in lakhs of Indian Rupees):
Quarter Ended June 30, 2026:
- Revenue from operations: ₹30,884.14
- Total expenses: ₹28,160.38
- Profit before tax: ₹2,723.76
- Tax expense: ₹703.83 (Current tax: ₹732.47, Deferred tax: ₹(28.64))
- Profit for the period: ₹2,019.93
- Total comprehensive income: ₹2,018.47
- Basic EPS: ₹2.42 (not annualized)
Comparative Figures (Quarter Ended June 30, 2025):
- Revenue from operations: ₹25,687.34
- Profit before tax: ₹1,732.50
- Profit for the period: ₹1,310.25
- Basic EPS: ₹1.62
35th Annual General Meeting
The 35th Annual General Meeting is scheduled to be held on Wednesday, September 23, 2026 at 3:00 PM through Video Conferencing (VC) or Other Audio Video Means (OAVM).
Dividend Declaration
Record Date fixed for Wednesday, September 16, 2026 for determining eligibility of shareholders for final dividend of ₹0.50 (Fifty paise) per equity share of face value of ₹10 each for the financial year ended March 31, 2026.
Remote e-Voting
Remote e-voting period commences from Sunday, September 20, 2026 at 9:00 AM and ends on Tuesday, September 22, 2026 at 5:00 PM. Cut-off date for voting is Wednesday, September 16, 2026.
Auditor Appointments
Statutory Auditors: Recommended reappointment of M/s. Ruparel & Bavadiya, Chartered Accountants (Firm Registration No. 126260W) for a second term of 5 consecutive years from conclusion of 35th AGM until conclusion of 40th AGM, subject to shareholder approval.
Secretarial Auditors: Recommended appointment of M/s. Kavita Khatri & Associates, Company Secretaries (Mem No: F13898, COP No: 9006) for 5 consecutive years from April 1, 2026 through March 31, 2031, subject to shareholder approval.
Cost Auditors: Approved reappointment of M/s. Y S Thakar & Co., Cost Accountants (Firm Registration No. 000318) for FY 2026-27, subject to ratification of remuneration by shareholders.
Internal Auditors: Approved reappointment of M/s. Jain & Hindocha, Chartered Accountants (Firm Registration No. 103868W) for FY 2026-27.
IPO Fund Utilization
The company completed its Initial Public Offer of 2,09,00,000 equity shares of face value of ₹10 each comprising fresh issue of 1,46,50,000 shares (₹17,873.00 lakhs) and offer for sale of 62,50,000 shares (₹7,625.00 lakhs).
Utilization as of June 30, 2026:
- Total proceeds: ₹25,498.01 lakhs
- Utilized: ₹23,339.66 lakhs
- Unutilized: ₹2,158.35 lakhs (₹2,075.37 lakhs in Fixed Deposits, ₹16.13 lakhs in Monitoring Account, ₹86.43 lakhs in Escrow Account)
- Fixed deposit balance includes interest earned of ₹19.50 lakhs
Breakdown of utilization:
- Capex for Expansion (Panchmahal Facility): ₹0.00 utilized out of ₹1,857.17 allocated
- Repayment/Prepayment of Borrowings: ₹9,601.30 utilized out of ₹9,800.00 allocated
- General Corporate Purposes: ₹446.10 utilized out of ₹4,464.28 allocated
- Offer for Sale: ₹6,877.75 utilized out of ₹6,877.75 allocated
- Issue Expenses: ₹2,414.49 utilized out of ₹2,498.81 allocated
Board Meeting Details
The Board Meeting commenced at 3:00 PM and concluded at 4:00 PM on August 12, 2026.
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.