KD Green Industries Limited (formerly known as Manbro Industries Limited) has approved a merger with KD Iron & Steel Private Limited to create a leading green steel and sustainable infrastructure conglomerate. The Board of Directors approved the proposed merger in principle on June 9, 2026, subject to completion of due diligence, statutory approvals, and regulatory clearances. The strategic move aims to combine the manufacturing capabilities of both entities to strengthen their presence in green steel, AAC blocks, and infrastructure products.

The merger is classified as a related party transaction involving common promoters but will be conducted at arm's length. KD Iron & Steel Private Limited, the flagship entity of the KD Group, manufactures branded steel products under the XTECH brand in North-East India. The combined entity intends to leverage KD Iron & Steel's established manufacturing excellence and brand value to drive long-term growth and shareholder value.

Financial and Operational Details

KD Green Industries Limited reported a turnover of ₹22,83,24,597 for the financial year ending March 31, 2026, with a share capital of ₹10,15,10,500. KD Iron & Steel Private Limited recorded a significantly higher turnover of ₹3,15,94,24,019 for the same period, with a share capital of ₹9,65,42,760.

Strategic Benefits and Expansion

The proposed merger is expected to unlock transformational value by creating a green manufacturing hub, enhancing manufacturing scale, and improving operating efficiencies. KD Iron & Steel is currently undertaking a substantial expansion with a total project outlay of ₹325 Crore. This includes increasing furnace capacity from 90,000 MT to 1,80,000 MT annually and rolling capacity from 99,000 MT to 2,00,000 MT annually, alongside the installation of a 25 MW captive solar power plant.

The company has also received approval for incentives from the Government of Assam aggregating approximately ₹600 Crore over the next 15 years. These incentives are expected to enhance profitability and strengthen cash flows. The merged entity is poised to become KD's flagship entity, consolidating group businesses to drive sustainable growth in the region.

The intimation was submitted to BSE Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was signed by Dilip Kumar Goenka, Managing Director.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE348N01042/22fd208f-3ee0-4f29-8eab-2600f9171628.pdf

manbro industries reported its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, revealing a consolidated net profit of ₹51.81 million for the full financial year. The company's revenue from operations for the year stood at ₹647.06 million on a consolidated basis, while standalone revenue was significantly lower at ₹13.46 million.

Financial Performance

For the quarter ended March 31, 2026, the consolidated net profit after tax was ₹20.08 million, compared to ₹11.57 million in the previous quarter ended December 31, 2025. Total income from operations for the consolidated quarter ended March 31, 2026, was ₹229.71 million. On a standalone basis, the company reported a net profit of ₹0.18 million for the quarter ended March 31, 2026, with total income from operations at ₹4.97 million.

Key Metrics

The Board of Directors reviewed and approved the financial results during their meeting held on May 30, 2026. The equity share capital remained constant at ₹58.01 million throughout the reported periods. Reserves, excluding revaluation reserves, were reported at ₹364.77 million as of March 31, 2026.