Kalana Ispat adopts FY26 financial statements at 14th AGM

Kalana Ispat Limited concluded its 14th Annual General Meeting (AGM) on June 9, 2026, adopting the audited standalone financial statements for the financial year ended March 31, 2026. The meeting, held at Ellisbridge Gymkhana in Ahmedabad, was convened to approve the company's accounts and re-appoint its Managing Director, Varghese Joseph Pottakerry. Shareholders also voted on special resolutions concerning loans to directors and investments under the Companies Act, 2013.

The AGM commenced at 3:00 PM and concluded at 3:20 PM, with 16 members present in person. The proceedings were conducted in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and relevant circulars issued by the Ministry of Corporate Affairs and SEBI. Mr. Sumit Bajaj, a Practicing Company Secretary, was appointed as the Scrutinizer to oversee the e-voting process.

Business Transacted

The meeting transacted five items of business, including ordinary and special resolutions. The Board's Report and Auditors' Report were taken as read after being circulated to members in advance.

Item	Business Description	Resolution Type
01	Adopt the Audited Standalone Financial Statement for FY26 and the Reports of Statutory Auditors and Board of Directors.	Ordinary Resolution
02	Re-appoint Mr. Varghese Joseph Pottakerry (DIN: 02771578), Director retiring by rotation.	Ordinary Resolution
03	Approve transactions under Section 185 of the Companies Act, 2013.	Special Resolution
04	Approve authorisation under Section 186 of the Companies Act, 2013.	Special Resolution
05	Approve variation in the terms of the contract or objects of the Issue.	Special Resolution

Key Approvals

Shareholders approved the re-appointment of Varghese Joseph Pottakerry, who retires by rotation and is eligible for re-appointment. Special resolutions were passed to consider and approve transactions involving loans to directors and investments by the company under specific sections of the Companies Act, 2013. Additionally, the meeting approved a variation in the terms of the contract or objects of the issue.

The Chairperson addressed the gathering, sharing the company's vision and strategy for the financial year 2025-26 and responding to specific queries from members. The results of the remote e-voting will be announced on the company's website and the National Stock Exchange of India Limited within two working days from the conclusion of the AGM.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-7.14%	-1.76%	-11.36%	-20.41%	-53.68%	-58.86%

Kalana Ispat Limited has resubmitted its audited financial results for the year ended March 31, 2026, following observations by the National Stock Exchange regarding deficiencies in the initial submission. The exchange noted the non-submission of a machine-readable or legible copy of the financial results and a discrepancy in the XBRL filing. The company clarified that the Paid-up Equity Share Capital was inadvertently mentioned in actual figures instead of figures in lakhs in the XBRL submission, describing the error as purely inadvertent. The revised filing includes the corrected XBRL data and the required segment details.

The Board of Directors, at its meeting held on May 14, 2026, approved the Audited Financial Results for the half-year and year ended March 31, 2026, as recommended by the Audit Committee. The Statutory Auditors issued an unmodified opinion on the standalone financial results. The results indicate that the company's total assets stood at ₹5,014.75 lakh as of March 31, 2026, compared to ₹4,792.49 lakh in the previous year. Shareholders' funds increased to ₹4,399.65 lakh from ₹4,302.93 lakh in the same period.

Financial Performance

The statement of assets and liabilities reveals significant movements in the company's capital structure. Property, Plant and Equipment and Capital Work-in-progress saw substantial increases, with Capital Work-in-progress rising to ₹1,557.75 lakh from ₹518.14 lakh. Cash and cash equivalents decreased to ₹252.64 lakh from ₹1,944.06 lakh, primarily due to investing activities. The cash flow statement shows a net decrease in cash and cash equivalents of ₹1,691.43 lakh for the year.

Particulars	As At 31/03/2026 (₹ In Lakhs)	As At 31/03/2025 (₹ In Lakhs)
Total Assets	5,014.75	4,792.49
Equity and Liabilities
Shareholders' Funds	4,399.65	4,302.93
Non-current Liabilities	104.76	79.15
Current Liabilities	510.34	410.40
Assets
Non-current Assets	3,290.87	1,693.23
Current Assets	1,723.88	3,099.26

Utilization of IPO Funds

The company provided a utilization certificate for the Initial Public Offer proceeds, which amounted to ₹3,259.08 lakh. A variation in the allocation of funds was approved by shareholders via postal ballot on March 19, 2025. The modification involved reducing the allocation for the solar power plant project and increasing the allocation for the rolling mill project due to regulatory changes regarding banked energy consumption. As of March 31, 2026, the company had utilized ₹3,058.62 lakh, leaving ₹200.46 lakh unutilized and placed in fixed deposits.

Object	Original Allocation (₹ In Lakh)	Modified Allocation (₹ In Lakh)	Funds Utilised (₹ In Lakh)
Solar Power Plant	2,298.75	1,103.65	903.19
Rolling Mill	799.45	1,994.55	1,994.55
Issue Expenses	100.00	100.00	100.00
General Corporate Purpose	60.88	60.88	60.88
Total	3,259.08	3,259.08	3,058.62

The Board also approved convening the 14th Annual General Meeting of the members on June 9, 2026. The company stated that no investor complaints were received during the period from October 1, 2025, to March 31, 2026.