Ashirwad Steels re-appoints Vishesh Chhibbar as Whole-time Director

Ashirwad Steels & Industries Limited Ashirwad Steels & Industries Limited shareholders overwhelmingly approved the re-appointment of Vishesh Chhibbar as Whole-time Director and adopted the company’s audited financial statements for the fiscal year ended March 31, 2026. The resolutions were passed with 99.31% support at the 40th Annual General Meeting (AGM) held on July 23, 2026, signaling strong shareholder confidence in the Board’s leadership and financial reporting for FY26.

The meeting was conducted through Video Conferencing (VC) or Other Audio Visual Means (OAVM) in compliance with Section 108 of the Companies Act, 2013 and Rule 20 of the Companies (Management and Administration) Rules, 2014. Arvind Kumar Saraf, FCA (Membership No. 056138), served as the independent scrutinizer appointed by the Board on May 22, 2026. The remote e-voting window remained open from July 20, 2026, to July 22, 2026, followed by voting during the AGM itself.

Voting Results

Both resolutions were declared carried by the Chairman based on the Scrutinizer’s Report dated July 23, 2026. A total of 120 members voted, representing 10,091,350 votes out of an eligible base determined by the record date of July 16, 2026.

Resolution	Votes in Favour	% Support	Votes Against	% Against
Adoption of Audited Financial Statements (FY26)	10,021,258	99.31%	70,092	0.69%
Re-appointment of Vishesh Chhibbar	10,021,258	99.31%	70,092	0.69%

Shareholder Participation

The promoter group, holding 8,830,409 shares, participated actively, casting 8,585,309 votes in favour of both resolutions with 100% support. Public non-institutional shareholders, holding 3,660,891 shares, polled 1,506,041 votes, with 95.35% supporting the resolutions. No public institutional shares were voted.

The high level of promoter participation—accounting for 97.22% of their holdings—underscores aligned interests between management and controlling stakeholders regarding the adoption of financial results and leadership continuity. The absence of invalid votes across all categories further reflects a clean and transparent voting process.

Regulatory Compliance

The filing was submitted pursuant to Regulation 30, Regulation 44(3), and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The consolidated voting results and Scrutinizer’s Report are available on the company’s website and the Central Depository Services Limited (CDSL) e-voting platform.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-6.37%	+0.19%	-9.93%	-24.13%	-32.85%	+56.88%

Ashirwad Steels & Industries Limited reported an increase in income from operations to Rs. 206.68 lacs for the financial year ended March 31, 2026, compared to Rs. 180.45 lacs in the previous year. The company disclosed this financial performance during its 40th Annual General Meeting held on July 23, 2026. Total income for the year stood at Rs. 416.34 lacs, while total post-tax comprehensive income was Rs. 201.27 lacs.

The company's total investment in equity, shares, bonds, mutual funds, and debentures increased to Rs. 4,186.49 lacs from Rs. 3,620.38 lacs in the previous year. Additionally, the total amount lent as on March 31, 2026, stood at Rs. 1,655.00 lacs, compared to Rs. 960.00 lacs in the prior year. Other income, primarily comprising interest on bank fixed deposits, loans, and investments, stood at Rs. 209.65 lacs.

Operational Updates

Chairman Dalbir Chhibbar informed shareholders that the LPG Bottling Plant at Raigarh continues to remain inoperative as commercial operations are not remunerative. Although the Board received member approval via postal ballot to dispose of the plant and land, no suitable buyer has approached the company to date. The plant now holds only scrap value, though the land retains commercial value.

The company has continued its business of investment in shares and securities and lending of funds during the year. However, the Board could not identify or start any economically viable trading or industrial business. The statutory auditors and secretarial auditors provided unmodified opinions without materially significant qualifications.

Financial Performance

Metric	FY 2025-26 (Rs. in lacs)	Previous Year (Rs. in lacs)
Income from operations	206.68	180.45
Other income	209.65	249.49
Total income	416.34	429.94
Total post-tax comprehensive income	201.27	227.13
Total investments	4,186.49	3,620.38
Total amount lent	1,655.00	960.00

Meeting Proceedings

The meeting was conducted through video conferencing. Shareholders voted on two ordinary resolutions: the adoption of audited financial statements for the year ended March 31, 2026, and the re-appointment of Whole-time Director Mr. Vishesh Chhibbar. The remote e-voting facility was available from July 20, 2026, to July 22, 2026. The meeting concluded at 1:18 P.M.