Bengal Steel Industries will close its Register of Members and Share Transfer Books from August 25, 2026, to August 31, 2026, inclusive, in preparation for its 79th Annual General Meeting (AGM). The meeting is scheduled for Monday, August 31, 2026, and shareholders should note that the Board has not recommended any dividend for the financial year ended March 31, 2026 (FY25-26).

The closure period ensures an accurate record of shareholders for voting and dividend entitlement purposes, although no payout is declared for this cycle. This procedural step aligns with standard corporate governance practices under Regulation 42 of the SEBI (LODR) Regulations, 2015. Company Secretary Neha Mehra signed the communication to BSE Limited, confirming the timeline.

Key Dates and Dividend Status

The decision to forego a dividend follows the company’s financial performance in FY26, where net profit after tax (PAT) rose 91% to ₹34.28 lakh from ₹17.91 lakh in FY25. Despite this growth, driven largely by a surge in other income rather than operational revenue, the Board opted against distributing profits to shareholders.

Financial Context

Bengal Steel Industries reported total income of ₹70.79 lakh in FY26, up 15.03% from ₹61.54 lakh in FY25. Revenue from operations, derived entirely from rent receipts, increased modestly by 5.26% to ₹60.00 lakh. In contrast, other income jumped 137.66% to ₹10.79 lakh, primarily due to higher interest income on fixed deposits. Total expenses decreased by 25.42% to ₹30.04 lakh, aided by a reduction in service charges.

AGM Agenda

Shareholders will vote on the adoption of the Standalone and Consolidated Audited Financial Statements for FY26 and the re-appointment of Mrs. Ritu Agarwal as a director. Mrs. Agarwal retires by rotation but is eligible for re-appointment. She brings experience in business management and currently serves as a director in Asutosh Enterprises Limited, Spaans Babcock India Limited, Morgan Finvest Private Limited, and Live-Life Buildcon Private Limited.

Remote e-voting facilities are available through National Securities Depository Limited (NSDL) from August 28, 2026, at 9:00 a.m. to August 30, 2026, at 5:00 p.m., in compliance with Section 108 of the Companies Act, 2013, and Regulation 44(1) of SEBI (LODR) Regulations, 2015. Only members appearing in the Register of Members as of August 24, 2026, are eligible to vote.

What the Numbers Show

The absence of a dividend recommendation despite a 91% rise in PAT underscores the company’s conservative approach to capital distribution or potential need for retained earnings. With profitability heavily reliant on non-operating income—other income contributing nearly 15% of total income versus 7% in the prior year—the core operational engine remains stable but not expansive. Investors should monitor whether future dividends will be tied to operational revenue growth or continue to depend on investment returns.

Bengal Steel Industries Ltd reported a 23.3% decline in consolidated net profit to ₹4.27 lakh for the quarter ended June 30, 2026, compared to ₹5.45 lakh in the corresponding quarter of the previous year. The company's revenue from operations remained stagnant at ₹15 lakh during the period under review. Total expenses increased to ₹9.92 lakh from ₹8.52 lakh in the quarter ended June 30, 2025, primarily driven by higher employee benefits and other expenses.

The Board of Directors approved the standalone and consolidated unaudited financial results at its meeting held on July 21, 2026. The limited review of the results was conducted by the Statutory Auditors, S. Ghose & Co LLP, in accordance with Regulation 33 of the SEBI (LODR) Regulations, 2015. The auditors noted that the consolidated results include unaudited financial information of subsidiary Tamil Nadu Alkaline Batteries Limited, which reported a net loss of ₹0.11 lakh for the quarter.

On a standalone basis, the company reported a net profit of ₹4.37 lakh for Q1FY26, down from ₹5.57 lakh in the same period last year. Profit before tax stood at ₹5.19 lakh, with a tax expense of ₹0.82 lakh. Earnings per share (EPS) on a basic and diluted basis (not annualised) was recorded at ₹0.09 for the quarter, compared to ₹0.11 in the previous year.

The financial statements were prepared in compliance with Indian Accounting Standards (Ind-AS). The Board authorized Director V.N. Agarwal to sign the financial results on behalf of the company. Previous period figures have been regrouped or rearranged wherever necessary to maintain comparability.

Financial Performance Summary

Key Disclosures

• The subsidiary, Tamil Nadu Alkaline Batteries Limited, contributed nil revenue and a net loss of ₹0.11 lakh to the consolidated results.
• The Statutory Auditors issued a limited review report confirming that the financial results are free from material misstatement based on their review procedures.
• The Audit Committee reviewed the financial results prior to Board approval.