Company Overview

Suraj Limited (BSE: 531638, NSE: SURAJLTD), a metals and mining company, reported its FY2025-26 financial results and convened its 33rd Annual General Meeting on June 26, 2026.

Financial Performance

Consolidated Results Show Significant Decline:

  • Revenue from operations decreased by 10.94% to ₹205.85 crore (FY25: ₹233.74 crore)
  • Net profit declined by 43.85% to ₹7.47 crore (FY25: ₹13.30 crore)
  • Earnings per share stood at ₹4.07 compared to ₹7.24 in previous year
  • EBITDA reported at ₹14.65 crore

Financial Position Analysis:

  • Current ratio improved to 1.35 from 1.23 in FY25
  • Debt-equity ratio stood at 0.64 with total borrowings of ₹60.30 crore
  • Working capital borrowings from HDFC Bank: ₹54.93 crore at 8.00% p.a.
  • Inventory levels increased to ₹62.93 crore from ₹52.33 crore
  • Contingent liabilities total ₹22.65 crore, primarily from disputed excise/custom duty demands of ₹16.81 crore under various appeals

AGM Agenda and Voting

Meeting Details:

  • Date: June 26, 2026 at 10:30 AM IST via video conferencing
  • Cut-off date: June 19, 2026 for voting eligibility
  • Remote e-voting period: June 23-25, 2026 through CDSL platform

Key Agenda Items:

1. Adoption of audited standalone and consolidated financial statements

2. Re-appointment of Mr. Kunal Tarachand Shah as director

3. Ratification of cost auditor remuneration (₹1,45,000 + GST)

4. Approval of material related party transactions:

  • With TBS Metal Private Limited: Not exceeding ₹100 crore annually (48.58% of turnover)
  • With Suraj Enterprise Private Limited: Not exceeding ₹50 crore outstanding (24.29% of turnover)

Corporate Governance and Compliance

  • Related parties shall not vote on Items 4 and 5 as per SEBI Listing Regulations
  • All regulatory filings made with stock exchanges
  • Secretarial audit by M/s Hardik Jetani & Associates
  • Statutory audit by M/s Rinkesh Shah & Co.
  • Cost audit by M/s Kiran J. Mehta & Co.

Related Party Transactions

Significant transactions with related entities:

  • Sales to TBS Metal Private Limited: ₹10.51 crore
  • Purchases from TBS Metal Private Limited: ₹39.49 crore
  • Borrowings from Suraj Enterprise Private Limited: ₹5.37 crore payable
  • Remuneration to key managerial personnel: ₹2.66 crore total

Risk Factors and Contingencies

  • Foreign exchange exposure: Receivables of USD 476,703.84 and EURO 2,339,972.75
  • Sensitivity analysis shows 0.50% interest rate change impacts borrowing cost by ₹30.15 lakhs
  • Significant contingent liabilities from disputed tax demands under appeal

Subsequent Events

As of May 07, 2026, no subsequent events requiring recognition or reporting in the financial statements. The company has already paid an interim dividend of ₹1.50 per share for FY26.