Steelco Gujarat Limited announced its audited standalone financial results for the fourth quarter and year ended March 31, 2026, following a board meeting held on May 26, 2026, from 3:20 PM to 4:35 PM.

Financial Performance

Quarter Ended March 31, 2026 (Audited):

  • Revenue from operations: ₹336.45 lakh
  • Other income: ₹43.68 lakh
  • Total revenue: ₹340.82 lakh
  • Total expenses: ₹5,013.72 lakh
  • Loss before tax: ₹(1,605.56) lakh
  • Tax expense: Nil
  • Net loss: ₹(1,605.56) lakh
  • Other comprehensive income: ₹5.39 lakh
  • Total comprehensive loss: ₹(1,610.94) lakh
  • Basic and diluted EPS: ₹(32.44)

Year Ended March 31, 2026 (Audited):

  • Revenue from operations: ₹5,852.92 lakh
  • Other income: ₹67.01 lakh
  • Total revenue: ₹5,919.93 lakh
  • Total expenses: ₹9,647.13 lakh
  • Loss before tax: ₹(3,727.19) lakh
  • Tax expense: Nil
  • Net loss: ₹(3,727.19) lakh
  • Other comprehensive income: ₹5.39 lakh
  • Total comprehensive loss: ₹(3,732.58) lakh
  • Basic and diluted EPS: ₹(75.16)

Financial Position (as of March 31, 2026)

  • Paid-up equity share capital: ₹496.60 lakh (face value ₹10 each)
  • Net worth: ₹(7,797.02) lakh
  • Debt equity ratio: 83.47
  • Debt service coverage ratio: (0.93)
  • Interest service coverage ratio: (1.08)
  • Current ratio: 5.37
  • Long term debt to working capital ratio: 3.37
  • Operating margin: (214.70%)
  • Net profit margin: (47.12%)

Key Financial Ratios

  • Debt equity ratio: 83.47 (Q4 FY26), 2.28 (Q4 FY25)
  • Debt service coverage ratio: (0.93) (Q4 FY26), (1.09) (Q4 FY25)
  • Interest service coverage ratio: (1.08) (Q4 FY26), (1.40) (Q4 FY25)
  • Current ratio: 5.37 (Q4 FY26), 0.58 (Q4 FY25)
  • Long term debt to working capital ratio: 3.37 (Q4 FY26), (7.13) (Q4 FY25)

Fund Raising and Utilization

  • The company issued secured non-convertible debentures aggregating ₹140 crore during the year
  • Outstanding balance as of March 31, 2026: ₹140 crore
  • The debentures are secured by first ranking mortgage over mortgaged properties, hypothecation over hypothecated properties, pledge over specified securities, personal guarantees of promoters/guarantors, and corporate guarantees of group entities

Subsequent Events

  • The Board of Directors approved a rights issue on May 9, 2026, for up to 13,30,060 equity shares of face value ₹10 each at an issue price of ₹112 per share (including premium of ₹102 per share)
  • Total issue size: ₹1,489.66 lakh
  • Ratio: 5 rights equity shares for every 1 fully paid-up equity share held
  • Record date: Friday, May 15, 2026
  • No adjustment has been made in the financial results for this post-reporting date event

Debenture Redemption Reserve

  • The company has not created DRR on fresh issue of redeemable non-convertible debentures in accordance with Companies (Share Capital and Debentures) Amendment Rules, 2019 effective from August 16, 2019

Utilization of Issue Proceeds

  • Funds raised through non-convertible debentures: ₹14,000 lakh (January 1, 2026)
  • Funds utilized: ₹13,899.79 lakh
  • Deviation: Yes
  • Purpose of deviation: Against the Outstanding Dues
  • Approval of Debenture Trustee obtained on January 16, 2026

Gratuity Liability

  • Gratuity liability as of March 31, 2026: ₹236.58 lakh
  • Amount paid till reporting date: ₹118.52 lakh
  • Outstanding balance: ₹118.06 lakh