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.

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.

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.

Kalana Ispat Limited promoters and the promoter group collectively hold 55.13% of the company's total equity shares, confirming a significant controlling interest as of March 31, 2026. A disclosure submitted to the National Stock Exchange of India Limited confirmed that none of the shares held by the promoter group were encumbered, directly or indirectly, during the financial year ended March 31, 2026. The filing was made by Aftabhusen S Khandwawala on behalf of himself and the promoter group under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The shareholding data details the individual holdings within the promoter and promoter group categories. Varghese Joseph Pottakerry holds the largest stake among individual promoters at 16.00%, followed by Aftabhusen S Khandwawala at 15.63%. Sadik Qureshi and Gurubaxsing Jamaitsing Bagga hold 10.60% and 9.17% respectively. Among the promoter group entities, MIT Iron and Steel Private Limited holds a substantial portion of 7.67%.

Shareholding Pattern

The following table outlines the shareholding details of the promoters and promoter group:

The disclosure lists several other members of the promoter group, including Swarnakaur Gurubaxsingh Bagga, Shabnam Sadik Qureshi, and Shabbirhusien S Khandwawala, who reported no shareholding. Similarly, entities such as Mika Steel & Alloys LLP, Mit Developers, and Seebat Developers recorded zero holdings. The filing was addressed to the Department of Corporate Services at the National Stock Exchange and copied to the Audit Committee of Kalana Ispat Limited .