Kalyani Steels Limited has informed the stock exchanges that Mr. Shrikrishna K. Adivarekar (DIN 06928271 and IDDB Registration No. IDDB-DI-202002-012411) has completed his second term as an Independent Director of the company. His tenure concluded on May 17, 2026, and he accordingly ceased to be a director of the company with effect from May 18, 2026. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Director Cessation Details

The following table summarises the key details of Mr. Adivarekar's cessation as disclosed under Regulation 30 of the Listing Regulations:

Background of Re-Appointment

The members of Kalyani Steels had approved the re-appointment of Mr. Adivarekar for his second term at the company's Forty-Ninth Annual General Meeting held on August 1, 2022. The second term spanned 3 consecutive years, commencing May 18, 2023 and concluding May 17, 2026. With the completion of this term, Mr. Adivarekar has ceased to hold the position of Independent Director and director of the company.

Regulatory Compliance

The disclosure was filed in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read along with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The intimation was submitted by Mrs. D.R. Puranik, Company Secretary of Kalyani Steels Limited, on May 18, 2026.

Kalyani Steels Limited released its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, following a Board meeting held on May 8, 2026. The results were subsequently published in Business Standard (all editions) and Loksatta (Pune edition) on May 9, 2026, pursuant to Regulations 30 and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company reported a standalone Profit After Tax (PAT) of ₹710.25 million for the fourth quarter, compared to ₹792.83 million in the corresponding period of the previous year. For the full fiscal year 2025-26, the standalone PAT stood at ₹2,551.37 million, a marginal increase from ₹2,530.34 million in the previous year. The audited results carry an unmodified opinion from statutory auditors Kirtane & Pandit LLP, Chartered Accountants.

Financial Performance

The standalone revenue from operations for the year ended March 31, 2026, was ₹18,456.07 million, down from ₹19,819.04 million in the prior year. Total standalone income for the year was ₹19,020.47 million, compared to ₹20,335.75 million previously. The company recorded exceptional items of ₹79.26 million for the year, attributed to the impact of new Labour Codes notified by the Government of India on November 21, 2025, which consolidated 29 existing labour laws, with the impact primarily arising due to a change in wage definition. On a consolidated basis, the company reported a PAT of ₹2,578.67 million for the fiscal year, against ₹2,562.47 million in the prior year. The consolidated Earnings Per Share (EPS) for the year stood at ₹59.07, while the standalone EPS was ₹58.45.

The following table summarises the key standalone and consolidated financial metrics:

Quarterly Performance

For the quarter ended March 31, 2026, the standalone revenue from operations was ₹4,843.94 million, compared to ₹5,443.31 million in the same quarter of the previous year. The standalone profit before tax for the quarter stood at ₹966.45 million versus ₹1,071.39 million in the year-ago period. Q4 EBITDA came in at ₹990 million against ₹1.14 billion in the same period last year, with the EBITDA margin contracting to 20.44% from 20.99% year-on-year. On a consolidated basis, Q4 total income was ₹4,992.51 million, with PAT of ₹716.83 million for the quarter.

Balance Sheet Highlights

As at March 31, 2026, the company's standalone total assets stood at ₹29,904.53 million, up from ₹27,449.92 million a year earlier. Standalone equity increased to ₹20,996.13 million from ₹19,044.33 million. Cash and cash equivalents on a standalone basis were ₹766.41 million at year-end, compared to ₹143.00 million previously. Capital work-in-progress rose to ₹5,597.95 million from ₹4,294.92 million, reflecting ongoing investment activity.

Cash Flow Summary

On a standalone basis, net cash flows from operating activities for the year were ₹1,417.32 million, compared to ₹3,826.44 million in the prior year. Net cash used in investing activities was ₹1,060.73 million, while net cash used in financing activities was ₹420.89 million. On a consolidated basis, net cash from operating activities was ₹1,407.63 million.

Dividend Recommendation

The Board of Directors has recommended a final dividend of ₹10 per equity share of ₹5 each, which translates to 200%, for the financial year 2025-26. This dividend is subject to the approval of members at the ensuing Fifty-Third Annual General Meeting. The record date for the dividend will be announced in due course.

Key Appointments

In a significant move to strengthen its leadership, the Board approved two key appointments following recommendations from the Nomination and Remuneration Committee.

Appointment of Independent Director

Mr. Shishir Joshipura (DIN 00574970) has been appointed as an Additional Independent Director for a term of four consecutive years, effective May 8, 2026 to May 7, 2030, subject to member approval. Mr. Joshipura brings over 42 years of experience across process technology, capital goods, industrial services, automotive, and industrial part manufacturing sectors. He served as CEO and Managing Director of Praj Industries from 2018 to 2025, during which the company grew into a global leader in Industrial Biotech with over 1,000 installations across 100 countries. Prior to that, he was CEO of SKF India from 2009 to 2018. He holds a Bachelor of Engineering in Mechanical Engineering from BITS Pilani and completed the Advanced Management Program at Harvard Business School. He was honoured with the Distinguished Alumnus Award by BITS Pilani in 2024. Mr. Joshipura is not related to any Director of the Company.

Appointment of Chief Financial Officer

Mr. Bantu Upendra Kumar Patro has been appointed as Chief Financial Officer (CFO) of the company with effect from May 9, 2026. A Chartered Accountant with close to three decades of experience in corporate finance, strategy, project finance, and commercial operations, Mr. Patro previously served as CFO of Deepak Mining Solutions Limited, a subsidiary of Deepak Fertilisers and Petrochemicals Corporation Ltd., overseeing finance for operations with consolidated revenues of approximately ₹5,000 crore. He has led project financing and investment initiatives exceeding ₹7,500 crore across energy, chemicals, and manufacturing sectors. He has also served as Director and CFO at Essar Oilfield Services Limited and held finance roles at Reliance Industries Limited and Mahindra & Mahindra Limited.