kic metaliks has scheduled its 39th Annual General Meeting (AGM) for Tuesday, August 25, 2026, to transact key corporate governance and strategic business matters. The most material item on the agenda is the approval of a material related party transaction with Bengal Energy Limited ('BEL'), a fellow subsidiary, for an aggregate value not exceeding ₹500 crore (excluding applicable taxes) during FY27. This approval is critical for continuing operational synergies in raw material procurement and sales between the two entities. Additionally, shareholders will vote on the re-appointment of Mrs. Ishita Bose as an Independent Director and the revision of remuneration for Mr. Mukesh Bengani, Executive Director (Finance) and Chief Financial Officer.

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. Remote e-voting facilities have been 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. BEL 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 KIC Metaliks' Durgapur plant and BEL's Kharagpur facilities. 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.

KIC Metaliks Limited returned to profitability in the financial year ended March 31, 2026, reporting a net profit of ₹105.11 lakh compared to a net loss of ₹609.36 lakh in the previous year. The company's revenue from operations increased to ₹78,288.86 lakh for FY26, up from ₹71,723.22 lakh in FY25. The Board of Directors approved the audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 26, 2026.

The statutory auditors, M/s. Agarwal Maheshwari & Co., issued an unmodified opinion on the annual audited financial results. For the quarter ended March 31, 2026, the company reported a net profit of ₹143.48 lakh, a significant turnaround from the net loss of ₹439.82 lakh in the same quarter of the previous year. Total income for the quarter stood at ₹24,774.84 lakh.

Board Approvals and Appointments

The board approved the re-appointment of Mrs. Ishita Bose as a Non-Executive Independent Director for a second term of five consecutive years effective August 6, 2026, subject to shareholder approval. Additionally, the board re-appointed M/s. Sharad Patangi & Co., Cost Accountants, as Cost Auditors and M/s. B.N. Agrawal & Co., Chartered Accountants, as Internal Auditors for F.Y. 2026-27.

Financial Performance

The company's total comprehensive income for FY26 was ₹115.64 lakh, compared to a loss of ₹609.19 lakh in the prior year. Earnings per equity share (basic and diluted) for FY26 were ₹0.30, improving from a loss of ₹1.72 per share in FY25. The finance costs for the year decreased to ₹969.93 lakh from ₹1,037.55 lakh in the previous year.

Cash Flow and Assets

Net cash flow generated from operating activities for FY26 was ₹4,312.32 lakh, up from ₹2,076.24 lakh in the previous year. The company's cash and cash equivalents as of March 31, 2026, stood at ₹1,007.38 lakh, compared to ₹507.71 lakh in the prior year. Total assets as of March 31, 2026, were ₹38,629.76 lakh, a decrease from ₹42,777.46 lakh in the previous year.