Key Quantitative Figures

Standalone Financial Results (Quarter ended June 30, 2026):

  • Net Sales/Income from operations: ₹1,394.35 lakh
  • Total Income: ₹1,395.03 lakh
  • Total Expenses: ₹1,703.52 lakh
  • Loss before tax: ₹(308.50) lakh
  • Net loss for period: ₹(308.50) lakh
  • EPS (Basic & Diluted): ₹(18.74)
  • Paid-up equity share capital: ₹164.61 lakh
  • Face value per share: ₹10.00

Consolidated Financial Results (Quarter ended June 30, 2026):

  • Net Sales/Income from operations: ₹1,466.96 lakh
  • Total Income: ₹1,574.95 lakh
  • Total Expenses: ₹1,789.06 lakh
  • Loss before tax: ₹(214.11) lakh
  • Net loss for period: ₹(214.11) lakh
  • EPS (Basic & Diluted): ₹(13.01)

Dates of Action

  • Board Meeting: August 10, 2026 (commenced 12:30 PM, concluded 2:20 PM)
  • 79th Annual General Meeting: September 19, 2026 (through VC/OAVM)
  • New Statutory Auditor term: From conclusion of 79th AGM to conclusion of 84th AGM in 2031
  • Internal Auditor appointment: October 1, 2026 to March 31, 2027 (initial term)
  • Resignation of Mr. G. Nagesh: Effective May 31, 2026

Parties Involved

  • Subsidiaries: Chitrakoot Steel and Power Private Limited, Sapient Packing Private Limited
  • Retiring Statutory Auditors: CNGSN & Associates LLP (Firm Registration No. 004925S/S200036)
  • New Statutory Auditors: SRBR and Associates LLP (Firm Registration No. 004997S/S200051)
  • Retiring Internal Auditors: SLSM & Co., Chartered Accountants
  • New Internal Auditors: Madhu Balan & Associates (Firm Registration Number 011106S)
  • Fuel supplier: Mahanadi Coalfields Limited (subsidiary of Coal India Limited)

Financial and Operational Impact

NCD Restructuring: Revised terms include agreed moratorium for coupon payments from April 1, 2026 to August 31, 2026, compensated by ramped-up coupon amounts subsequently. Final redemption date revised to September 30, 2027. Entire principal amount with coupon and redemption premium to meet agreed total IRR and outstanding default/penal interest to be paid at final redemption date.

Power Plant Operations: Majorly under shutdown during quarter ended June 30, 2026 except for 4 days of startup power requirement.

Fuel Supply Agreement: Entered into agreement with Mahanadi Coalfields Limited dated May 12, 2026 for purchase and supply of coal for power generation purposes, expected to ensure stable supply at comparatively lower cost than imported coal.

Business Segments

Company organized into three segments:

1. Steel Division: Revenue ₹1,257.62 lakh, segment loss ₹(32.72) lakh

2. Synthetic Division: Revenue ₹115.22 lakh, segment profit ₹23.17 lakh

3. Power: Revenue ₹21.51 lakh, segment loss ₹(81.11) lakh

Capital Structure Impact

No change in paid-up equity share capital reported. Total standalone assets: ₹8,074.70 lakh. Total consolidated assets: ₹8,282.19 lakh.

Management Changes

  • Mr. G. Nagesh (President-Operations) resigned effective May 31, 2026
  • Senior management continues to include: Mr. Shanthakumar R P (CFO), Mrs. Uma M (GM-Finance), Mrs. Parvati Soni (Company Secretary & Compliance Officer), Mr. Gudur Venkata Suresh Babu (Vice President Power Plant)
  • Recommended re-appointment of Mr. Lalit Kumar Tulsyan (DIN: 00632823) as Director liable to retire by rotation

Auditor Emphasis Matters

Auditors emphasized two matters in their review report:

1. Revision in terms of Non-Convertible Debentures with moratorium and revised redemption terms

2. Power plant under shutdown during the quarter

Forward-Looking Information

  • New coal supply arrangement expected to ensure stable supply at lower cost
  • NCD restructuring terms provide for moratorium period and revised payment schedule

#Tags: #TulsyanNEC #Q1Results #SEBIDisclosure #RegulatoryCompliance #FinancialUpdate #Negative