Gallard Steel Ltd has appointed M/s Ishan Jain & Co., Company Secretaries, as its Secretarial Auditor for the financial year ended March 31, 2026. The Board of Directors approved the appointment at its meeting held on June 17, 2026, based on the recommendation of the Audit Committee.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the Corporate Announcement will be filed in XBRL format within the stipulated time and hosted on its website.

M/s Ishan Jain & Co. is a proprietorship firm led by CS Ishan Jain. The firm is based in Indore and holds a Firm Registration Number (FRN) of S2021MP802300 and a Peer Review Number of 6973/2025.

Details of the Appointment

The firm specializes in corporate compliance, advisory, and consulting services. Its areas of expertise include corporate laws, listing compliances, secretarial management guidance, due diligence, and FEMA advisory.

Gallard Steel Limited, a precision engineering and manufacturing company serving the railway, defence, power generation and industrial sectors, has announced strong operational and financial performance for FY26. The results were submitted to BSE on May 14, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and signed by Pallavi Parihar, Company Secretary and Compliance Officer. The company reported robust year-on-year growth across all key financial metrics, supported by strong demand, high capacity utilisation and ongoing expansion initiatives.

FY26 Financial Performance

Gallard Steel delivered a strong financial performance in FY26, with revenue, profitability and margins all registering meaningful improvement. The following table presents the consolidated financial highlights for H2FY26 and FY26:

FY26 Revenue from Operations grew 27.62% YoY to ₹6,804.49 Lakhs, while EBITDA rose 22.18% YoY to ₹1,523.77 Lakhs. PAT surged 50.08% YoY to ₹910.48 Lakhs, with PAT Margin improving by 200 bps to 13.38%. On a half-yearly basis, H2FY26 PAT grew strongly by 53.61% YoY to ₹481.17 Lakhs, reflecting sustained operational momentum. The company's existing manufacturing facilities are currently operating at approximately 98% capacity utilisation.

Capacity Expansion Highlights

Gallard Steel is undertaking significant capacity expansion to support future growth requirements across its key sectors. The table below summarises the expansion parameters:

The new expansion facility is expected to commence operations by June 2026. The company expects expanded capacities to achieve near 70%–80% utilisation by March 2027. These expansion initiatives are aimed at strengthening the company's presence across railway, defence, power and industrial engineering sectors, and are expected to improve operational scalability, execution capabilities and long-term growth visibility.

Management Commentary

Commenting on the company's performance, the management of Gallard Steel stated:

"FY26 has been another important year for Gallard Steel as we continued to strengthen our operational capabilities and expand our presence across railway, defence, power and industrial engineering sectors. The strong demand environment and consistent execution capabilities enabled us to maintain healthy operational momentum during the year. The company also expects to maintain a similar growth trajectory in FY27 supported by strong demand visibility, higher capacities and expanding opportunities across key sectors.

Our existing manufacturing facilities are currently operating at approximately 98% capacity utilisation, reflecting strong demand visibility, efficient production management and the trust of our customers across sectors.

The new expansion facility is expected to commence operations by June 2026 and will substantially enhance our manufacturing capabilities. We remain optimistic about the industry outlook and expect the expanded facilities to achieve 70–80% utilisation by March 2027."

About Gallard Steel Limited

Gallard Steel Limited is a precision engineering and manufacturing company engaged in the production of ready-to-use components, assemblies and sub-assemblies for the railway, defence, power generation and industrial engineering sectors. The company manufactures critical engineering products including traction motor components, bogie assembly components, railway axle mounting tubes, turbine sub-assemblies and industrial machinery components. Gallard Steel operates integrated manufacturing facilities with in-house casting and machining capabilities and is recognised as a Class 'A' RDSO approved foundry. With strong manufacturing expertise, diversified sector presence and ongoing capacity expansion initiatives, the company continues to strengthen its position in the precision engineering and steel component manufacturing industry.