Facor Alloys reported a standalone net loss of ₹147.96 crore for FY26, a significant improvement from the ₹502.15 crore loss recorded in FY25. The company generated operating revenue of ₹14.70 crore during the period, up from ₹1.70 crore in the prior year.

The Board of Directors did not recommend a dividend for the financial year ended March 31, 2026. Shareholders will vote on the adoption of these audited financial statements at the 23rd Annual General Meeting scheduled for September 29, 2026.

Financial Performance

The improvement in the bottom line was primarily driven by exceptional items and lower operational losses compared to the previous year. Operating expenses stood at ₹191.74 crore, significantly higher than the total revenue of ₹18.88 crore, resulting in an EBITDA loss of ₹172.86 crore.

The sharp decline in total revenue compared to FY25 was due to a massive drop in other income, which fell from ₹104.13 crore to ₹4.18 crore. In FY25, other income included significant miscellaneous receipts that were not repeated in the current fiscal year.

Strategic Shift to Logistics

The company has ceased its manufacturing operations since October 2023. During FY26, Facor Alloys completed the sale of its plant and machinery located in Shreeramnagar, Andhra Pradesh, following shareholder approval via postal ballot in July 2025. Proceeds from this transaction were utilized to repay outstanding liabilities.

Subsequently, the company pivoted towards the logistics sector. Members approved the alteration of the Main Objects Clause of the Memorandum of Association via postal ballot on July 20, 2026. This change enables the company to develop and operate General Cargo Terminals (GCTs), railway sidings, and warehousing facilities.

Facor Alloys has received in-principle approval from the Ministry of Railways to upgrade its existing private railway siding into a General Cargo Terminal. This initiative aligns with the PM Gati Shakti National Master Plan.

What the Numbers Show

The financial data reveals a distinct separation between core operations and non-recurring items. While operating revenue grew seven-fold to ₹14.70 crore, it remains negligible against the backdrop of ₹191.74 crore in operating expenses. The narrowing of the net loss by 70% was largely supported by a reversal in exceptional items, which contributed a positive ₹38.19 crore in FY26 compared to a negative ₹550.38 crore in FY25.

Auditor Disclaimer on Consolidated Accounts

Statutory auditors K.K. Mankeshwar & Co. issued a disclaimer of opinion on the consolidated financial statements. The firm stated it could not obtain sufficient appropriate audit evidence regarding the financial performance of an overseas subsidiary due to the non-availability of complete data following a change in management. Consequently, the consolidated results exclude this subsidiary.

The standalone audit report contained no qualifications but highlighted a material uncertainty related to going concern, citing the suspension of manufacturing operations and continuous losses over the past three years.

Facor Alloys Limited has scheduled its 23rd Annual General Meeting for Tuesday, September 29, 2026. The meeting will be conducted through Video Conferencing or Other Audio-Visual Means.

Facor Alloys will transact ordinary business including the adoption of audited standalone and consolidated financial statements for FY26. The company also seeks shareholder approval for the re-appointment of Mr. Manojkumar Umashankar Saraf as a director.

Key Agenda Items

The notice outlines specific resolutions for shareholder consideration:

Mr. Saraf retires by rotation and offers himself for re-appointment. He holds 5,92,871 shares in the company and serves as a member of the Nomination and Remuneration Committee.

Cost Auditor Appointment

Shareholders will ratify the remuneration of M/s Uppalapati & Associates LLP as Cost Auditors for the financial year ending March 31, 2027. The approved fee is ₹40,000 plus applicable taxes and reimbursement of out-of-pocket expenses.

E-Voting Details

Remote e-voting will commence on Saturday, September 26, 2026, at 9:00 am and end on Monday, September 28, 2026, at 5:00 pm. Voting rights are determined based on shareholding as of the cut-off date, Tuesday, September 22, 2026. Members can vote electronically through the National Securities Depository Limited platform.