Kanishk Steel Industries will hold its 36th Annual General Meeting on September 30, 2026. The Board of Directors has not recommended any dividend for the financial year ended March 31, 2026.

The meeting will be conducted through Video Conferencing or Other Audio-Visual Means. The deemed venue is the registered office in Gummidipoondi, Tamil Nadu.

Financial Performance

Revenue from operations rose 12.9% year-on-year to ₹40,657.00 lakh in FY26, up from ₹36,000.76 lakh in FY25. However, profit after tax declined to ₹510.01 lakh, down from ₹832.10 lakh in the previous year.

The drop in profitability despite higher sales was driven by a significant fall in other income, which decreased to ₹167.30 lakh from ₹1,163.47 lakh in FY25. Finance costs also increased to ₹642.99 lakh from ₹382.76 lakh.

Governance and Board Actions

Shareholders will consider the reappointment of Mr. Vishal Keyal as a Director. He retires by rotation and offers himself for reappointment. His tenure runs from June 1, 2023, to May 31, 2028.

Mr. Keyal serves as Chairman and Managing Director. He has been associated with the company since 2010. His last drawn remuneration was ₹75,000 per month. He does not hold any shares in the company.

Financial and Audit Matters

Members will adopt the audited financial statements for FY26. The Board also seeks ratification of remuneration payable to the Cost Auditor.

M/s. Vivekanandan & Unni Associates has been appointed as Cost Auditors for FY27. The approved remuneration is ₹70,000 plus applicable taxes and out-of-pocket expenses.

Shareholder Logistics

The Register of Members will remain closed from September 24, 2026, to September 30, 2026. The cut-off date for e-voting is September 23, 2026.

Remote e-voting begins on September 27, 2026, at 9:00 am and ends on September 29, 2026, at 5:00 pm. National Securities Depository Limited facilitates the voting process.

Kanishk Steel Industries Limited reported a net profit of ₹148.57 lakh for the quarter ended June 30, 2026, marking a 2.5% year-on-year increase from ₹144.93 lakh in Q1FY26. This bottom-line growth occurred despite a 13.6% contraction in total income from operations, which fell to ₹8,739.37 lakh from ₹10,120.76 lakh in the corresponding period last year. The divergence between declining top-line sales and rising profitability highlights effective cost management and significant benefits derived from inventory adjustments during the quarter.

The Board of Directors approved the unaudited standalone financial results at its meeting held on August 10, 2026. The results were reviewed by the Audit Committee and subjected to a limited review by the statutory auditors, Chaturvedi & Partners, in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company subsequently submitted copies of the newspaper publications of these results to BSE Limited on August 11, 2026, under Regulation 47(3) of the same regulations.

Financial Performance

Gross sales declined to ₹8,739.37 lakh in Q1FY27 from ₹10,120.76 lakh in Q1FY26. However, total expenses decreased more sharply at 14.0%, falling to ₹8,532.61 lakh from ₹9,921.33 lakh. Cost of materials consumed rose slightly to ₹7,379.16 lakh from ₹7,254.21 lakh, but this was offset by a significant drop in the purchase of stock-in-trade, which fell to ₹125.65 lakh from ₹734.34 lakh. Changes in inventories provided a credit of ₹1,484.27 lakh, compared to ₹629.47 lakh in the prior year quarter, substantially contributing to margin preservation.

Tax expenses increased to ₹82.63 lakh from ₹59.77 lakh, driven by higher current and deferred tax charges. Finance costs nearly doubled to ₹120.40 lakh from ₹65.63 lakh, reflecting higher borrowing costs or debt levels. Earnings per share stood at ₹0.52, compared to ₹0.51 in the previous year.

What the Numbers Show

The primary driver of profitability despite revenue contraction was inventory management. The company recorded a significant reduction in inventory levels, resulting in a ₹1,484.27 lakh credit to costs, compared to ₹629.47 lakh in Q1FY26. This operational efficiency offset the impact of declining sales volumes. However, the rise in finance costs to ₹120.40 lakh warrants monitoring, as it erodes the benefit of lower operating expenses. The provision for new Labour Codes remains unchanged at ₹8.96 lakh, indicating no immediate additional liability recognized during the quarter.

Regulatory Disclosures

Kanishk Steel operates primarily in the steel segment with no separate reportable segments under Ind AS 108. Regarding the new Labour Codes notified by the Government of India, the company had previously recognized a provision of ₹8.96 lakh in Q4FY26 as an exceptional item. As of June 30, 2026, no further material adjustment was deemed necessary, though the provision remains subject to revision upon finalization of State Rules. Previous year figures have been regrouped where necessary to conform to current presentation.