Kalyani Steels Limited reported a 10.90% year-on-year increase in standalone net profit after tax (PAT) to ₹676.06 million for the quarter ended June 30, 2026, as revenue from operations grew 4.90% to ₹4,645.80 million. The performance reflects steady demand for forging and engineering quality carbon and alloy steels, with consolidated PAT rising 10.60% to ₹682.49 million. Earnings per share (EPS) stood at ₹15.49 on a standalone basis and ₹15.63 on a consolidated basis, compared to ₹13.97 and ₹14.13 respectively in the corresponding quarter of the previous year.

The Board of Directors approved the unaudited financial results at a meeting held on August 7, 2026, in Pune. The results were reviewed by Kirtane & Pandit LLP, Chartered Accountants, Pune, who issued limited review reports pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The consolidated results include the holding company's proportionate share of income and expenditure from its joint operation, Hospet Steels Limited, and its wholly-owned subsidiary, DGM Realities Private Limited.

Financial Performance Highlights

The company's key financial metrics for the quarter are summarised below:

Revenue from operations increased from ₹4,427.67 million in the year-ago quarter to ₹4,645.80 million in the current quarter. Other income also saw a modest rise, contributing to a total income growth of 4.90% on a standalone basis. Operating expenses remained controlled, with cost of raw materials consumed at ₹2,395.79 million, representing approximately 51.60% of revenue. Manufacturing expenses stood at ₹774.20 million, while employee benefit expenses were ₹240.55 million.

EBITDA Performance

On an operational profitability basis, the company delivered a year-on-year improvement across key metrics:

EBITDA rose to ₹914 million from ₹853 million in the year-ago period, while EBITDA margin expanded to 19.67% from 19.26%, reflecting improved operating efficiency alongside revenue growth.

What the Numbers Show

The company's profitability improved despite a slight quarter-on-quarter decline in standalone PAT from ₹710.25 million in the preceding quarter to ₹676.06 million in the current quarter. This sequential dip contrasts with the strong year-on-year growth, indicating that while current-year performance is robust against last year's baseline, recent momentum has moderated slightly from the peak recorded in the preceding quarter. The tax expense remained stable at ₹233.70 million, ensuring that the pre-tax profit growth translated effectively to the bottom line. Notably, there were no exceptional items in the current quarter, whereas the previous fiscal year included an exceptional charge of ₹79.26 million related to the implementation of new Labour Codes.

The consolidated results reflect similar trends, with total comprehensive income reaching ₹680.78 million. The subsidiary, DGM Realities Private Limited, contributed ₹6.42 million to net profit after tax for the quarter. The joint operation, Hospet Steels Limited, reported nil revenue and nil net profit/loss for the period, with the company's share of expenditure amounting to ₹195 million. These figures were reviewed by other auditors, whose reports were considered by Kirtane & Pandit LLP in forming their conclusion on the consolidated statement.

Shareholders of Kalyani Steels Limited have approved the appointment of Ms. Vartika Shukla as an Independent Director, passing a special resolution with near-unanimous support. The decision strengthens the company’s board composition following a remote e-voting exercise that concluded on August 1, 2026. This governance move ensures continuity in independent oversight for the Pune-based steel manufacturer, with Ms. Shukla set to serve a five-year term from June 24, 2026, to June 23, 2031.

The postal ballot was conducted in compliance with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and relevant provisions of the Companies Act, 2013. M/s. SVD & Associates, Company Secretaries, appointed Mr. Sridhar Mudaliar as the scrutinizer to oversee the e-voting process. The voting period commenced on July 3, 2026, at 9:00 a.m. IST and ended on August 1, 2026, at 5:00 p.m. IST. Ms. Shukla holds DIN 08777885 and IDDB Registration No. IDDB-DI-202606-093493.

Voting Results Breakdown

A total of 44,665 shareholders were on record as of June 26, 2026. Of these, 256 members cast valid votes, representing 34,413,325 shares out of 43,653,060 outstanding shares eligible for voting. The participation rate stood at 78.83%.

Additionally, 5,000 votes were declared invalid due to statutory provisions or lack of authority. No members abstained from voting.

Governance Compliance

The scrutinizer’s report confirms adherence to Secretarial Standard - 2 (SS-2) issued by the Institute of Company Secretaries of India and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Notices were dispatched via email on June 30, 2026, to members with registered email addresses, while an advertisement published on July 1, 2026, provided alternative access for others. The e-voting facility was provided by National Securities Depository Limited (NSDL).