Gallantt Ispat Limited has announced the receipt of a significant subsidy disbursement of Rs 233.55 crores from the State Government of Uttar Pradesh. The company disclosed this development in a regulatory filing under Regulation 30 of the SEBI (LODR) Regulations, 2015.

Subsidy Details and Policy Framework

The subsidy has been granted under the Infrastructure and Industrial Investment Policy-2012 and 2017 of the State Government of Uttar Pradesh. This amount represents a refund of State Goods and Services Tax (SGST) that the company had paid under the said policy framework up to the period of June 2025.

Investment Strategy for Surplus Funds

Given the company's current financial structure, Gallantt Ispat Limited is not availing any term loans or other unsecured loans. With the subsidy funds being surplus to immediate operational requirements, the company has decided to invest these funds prudently. The management has chosen to place the subsidy amount, along with other surplus funds, as fixed deposits with HDFC Bank Limited.

Financial Position and Fund Management

The company's approach to fund management reflects a conservative investment strategy, prioritizing capital preservation while earning returns on surplus funds. The decision to invest in fixed deposits with a reputable banking institution demonstrates prudent financial management, especially considering the company's debt-free status regarding term loans and unsecured borrowings.

The total fixed deposit amount of Rs 300.01 crores includes both the recently received subsidy and other surplus funds available with the company. This strategic allocation ensures that the funds remain liquid while generating steady returns for the organization.

Regulatory Compliance

The disclosure was made in compliance with SEBI regulations, specifically under Regulation 30 of the SEBI (LODR) Regulations, 2015, which mandates the disclosure of material events and information. The company secretary, Nitesh Kumar, signed the regulatory filing on April 01, 2026, ensuring timely communication to both the Bombay Stock Exchange and National Stock Exchange of India Limited.

Gallantt Ispat Limited has announced a key leadership appointment with the naming of Mr. Pradyumna Kumar Satpathy as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP). The appointment was approved by the Board of Directors at their meeting held on March 31, 2026, following recommendations from the Nomination and Remuneration Committee.

Appointment Details

The new CFO will assume his responsibilities effective April 1, 2026, in a full-time employment capacity. The appointment has been made pursuant to the provisions of section 203 of the Companies Act, 2013 and Regulation 6(1) of SEBI LODR Regulations.

Professional Background

Mr. Pradyumna Kumar Satpathy brings extensive experience to his new role, with more than 28 years of comprehensive expertise in end-to-end finance management, corporate planning, cost control and audit. His skill set encompasses driving strategic initiatives, optimizing financial performance and ensuring statutory compliance across all functions.

His areas of expertise include:

• Budgeting and forecasting
• Profitability analysis
• Credit and stock control
• MIS & reporting
• Costing and internal audit
• Risk management
• Training & development

Senior Leadership Experience

The newly appointed CFO has held several senior leadership positions throughout his career, demonstrating his capability in managing complex financial operations:

Regulatory Compliance

The appointment notification was made pursuant to Regulation 30 and Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided all required details as per SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, updated as on January 30, 2026.

Gallantt Ispat Limited operates with its registered office and Gorakhpur unit located at Gorakhpur Industrial Development Authority (GIDA), Sahjanwa, Gorakhpur, Uttar Pradesh, and maintains a Gujarat unit at Samakhyali, Bhachau, District Kutch, Gujarat.