KIC Metaliks Ltd reported a net profit of ₹102.45 lakh for the quarter ended June 30, 2026, marking a significant turnaround from the net loss of ₹115.42 lakh recorded in the same period of the previous fiscal year. The company’s revenue from operations surged 50.1% year-on-year to ₹2,282.27 lakh, reflecting robust demand in its core business segment. This profitability shift signals improved operational efficiency and margin expansion despite rising input costs in the iron and steel sector.

The Board of Directors approved the unaudited financial results at a meeting held on August 4, 2026. The results were reviewed by M/s. Agarwal Maheswari & Co., the statutory auditors of the company, pursuant to Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The audit committee also reviewed the financial statements before board approval. The results were subsequently submitted to the Bombay Stock Exchange under Regulation 47 on August 5, 2026.

Financial Performance Highlights

Revenue from operations stood at ₹2,282.27 lakh, compared to ₹1,520.04 lakh in Q1FY25. Other income declined to ₹1.39 lakh from ₹3.59 lakh in the prior year quarter. Total expenses increased to ₹2,256.35 lakh from ₹1,539.41 lakh, primarily due to higher cost of materials consumed, which rose to ₹1,996.48 lakh from ₹1,302.82 lakh.

What the Numbers Show

The key driver behind the profitability turnaround was the divergence between revenue growth and expense growth. While total expenses rose 46.6% year-on-year, revenue grew at a faster pace of 50.1%. This resulted in a profit before tax of ₹27.31 lakh, compared to a loss of ₹15.78 lakh in Q1FY25. The company managed to contain finance costs, which dropped to ₹9.66 lakh from ₹17.35 lakh in the previous year, contributing positively to the bottom line. Earnings per share stood at ₹0.29, up from a loss of ₹0.33 per share in Q1FY25.

The company operates in a single reportable segment: "Iron & Steel and allied products." The figures for the quarter ended March 31, 2026, are balancing figures between the audited full-year results and the year-to-date figures up to the third quarter ended December 31, 2025. The results have been prepared in accordance with Ind AS 34, "Interim Financial Reporting," prescribed under Section 133 of the Companies Act, 2013.

kic metaliks has scheduled its 39th Annual General Meeting (AGM) for Tuesday, August 25, 2026, at 11:30 a.m. (IST) to approve a material related party transaction valued at up to ₹500 crore with fellow subsidiary Bengal Energy Limited. The meeting will also address the re-appointment of Independent Director Mrs. Ishita Bose and a remuneration revision for CFO Mr. Mukesh Bengani. This approval is critical for maintaining operational synergies in raw material procurement between KIC Metaliks' Durgapur plant and Bengal Energy's Kharagpur facilities.

The AGM will be conducted through Video Conferencing or Other Audio-Visual Means (VC/OAVM) in compliance with Ministry of Corporate Affairs circulars. The deemed venue is the company's registered office in Kolkata. Electronic copies of the AGM notice and Integrated Annual Report for FY26 were dispatched on Monday, August 3, 2026. Remote e-voting facilities are provided by National Securities Depository Limited (NSDL). The e-voting period commences on Saturday, August 22, 2026, at 9:00 a.m. (IST) and concludes on Monday, August 24, 2026, at 5:00 p.m. (IST). Members holding shares as of the cut-off date, Tuesday, August 18, 2026, are eligible to vote. The register of members and share transfer register will remain closed from Wednesday, August 19, 2026, to Tuesday, August 25, 2026.

Related Party Transaction with Bengal Energy Limited

The Board seeks shareholder approval under Regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, for transactions with Bengal Energy Limited. Bengal Energy became a related party following a Scheme of Arrangement sanctioned by the NCLT Kolkata Bench on August 1, 2025, making both entities fellow subsidiaries of Thermic Steel Company Private Limited.

The proposed transactions involve the sale and purchase of goods such as sinter, coke, coal, fluxes, steel scrap, and iron ore pellets, along with auxiliary services. These transactions are expected to leverage operational synergies and supply chain efficiencies due to the geographical proximity of the two plants. The aggregate value of these transactions for FY27 is capped at ₹500 crore, representing 63.86% of KIC Metaliks' annual consolidated turnover for the preceding financial year. In FY26, previous transactions included sales of ₹5,205.37 lakhs and purchases of ₹21,877.64 lakhs.

Director Re-appointments and Remuneration

Shareholders will consider the re-appointment of Mrs. Ishita Bose as an Independent Director for a second term of five consecutive years, effective from August 6, 2026, to August 5, 2031. The Nomination and Remuneration Committee recommended her re-appointment based on her performance evaluation and expertise in civil litigation and real estate registration. Mrs. Bose currently serves as Chairman of the Stakeholders' Relationship Committee and the Corporate Social Responsibility Committee.

The meeting will also approve the revision in remuneration of Mr. Mukesh Bengani, Executive Director (Finance) and CFO, effective April 1, 2026. As the company reported inadequate profits for FY26, this revision requires a Special Resolution under Section 197 of the Companies Act, 2013. His new monthly salary structure is detailed below:

Mr. Bengani's total remuneration in any financial year shall not exceed 5% of the company's net profits. His total remuneration in FY26 amounted to ₹22.71 lakhs.

Financial Performance Context

The explanatory statement notes that KIC Metaliks returned to profitability in FY26 but reported inadequate profits for managerial remuneration purposes. Key financial indicators for the quarter ended March 31, 2026, are presented below:

The company continues to focus on improving operational efficiencies through enhanced capacity utilization and cost management initiatives. M/s. Patangi & Co. has been appointed as Cost Auditors for FY27 at a remuneration of ₹40,000 plus taxes, subject to shareholder ratification. Mr. B.G. Lahoti, Practising Company Secretary, has been appointed as Scrutinizer for the e-voting process.