KIOCL Limited has returned to profitability for the financial year ended March 31, 2026, reporting a net profit of ₹1.66 billion compared to a net loss of ₹2.05 billion in the previous year. The turnaround was driven by a significant reduction in total expenditure, which fell to ₹6.96 billion from ₹8.46 billion in FY25. The board approved the audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 27, 2026.

Q4 and Annual Performance

For the fourth quarter (Q4FY26), the company reported a standalone net profit of ₹534 million, reversing the net loss of ₹369 million recorded in the corresponding quarter of the previous year. Revenue from operations for Q4FY26 stood at ₹2.20 billion, a decline from ₹2.47 billion in Q4FY25. For the full year, revenue from operations increased to ₹6.11 billion from ₹5.90 billion in the previous year.

The following table summarises KIOCL's key financial metrics for Q4 and FY26:

Operational Highlights and Auditor's Report

The company's EBITDA turned positive at ₹317 million in Q4FY26 against a loss of ₹408 million in the year-ago period, with an EBITDA margin of 14.40%. G. Balu Associates LLP, the statutory auditors, provided an unmodified opinion on the standalone financial results. The auditors highlighted an emphasis of matter regarding the absence of Independent Directors and the consequent non-constitution of the Audit Committee, noting that the Board of Directors reviewed and approved the results in their absence.

Additionally, the report noted that Kudremukh mining operations remain suspended since 2006, and the Blast Furnace Unit (BFU) has not been operational since 2009. No impairment was recognised for these assets based on valuation reports. The company also classified capital expenditure of ₹54.55 billion on Devadari Iron ore mines as intangible assets under mining rights, though mining activities are yet to commence pending forest land handover and government permissions.

KIOCL Limited has announced the completion of tenure of Shri Changdev Sukhadev Kamble as Independent Director on its Board of Directors. The disclosure was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and communicated to major stock exchanges including NSE, BSE, and Metropolitan Stock Exchange of India Limited.

Director Tenure Details

Shri Changdev Sukhadev Kamble (DIN: 09351638) served as Independent Director for a period of one year, with his tenure concluding on April 15, 2026. His reappointment was effective from April 15, 2025, pursuant to the Ministry of Steel's Order No. 1/1/2025-BLA dated April 15, 2025.

Regulatory Compliance

The company has fulfilled its disclosure obligations under SEBI regulations by providing detailed information about the directorial change. The announcement was made through proper channels to all relevant stock exchanges where KIOCL shares are listed. Company Secretary & Compliance Officer Clifton Siddharth signed the disclosure document on April 16, 2026.

Government Appointment Process

As a Government of India enterprise, KIOCL's board appointments are governed by the Ministry of Steel. The company has confirmed that it has not received any communication from the Government of India regarding the appointment of any new Independent Director to replace Shri Kamble. The Ministry of Steel's original appointment order was issued under the powers conferred by the Articles of Association of KIOCL Limited.

Company Information

KIOCL Limited operates as a Government of India enterprise with its registered office located at 11 Block, Koramangala, Bengaluru - 560 034. The company maintains ISO 9001, 14001 and OHSAS 18001 certifications, reflecting its commitment to quality, environmental, and occupational health and safety management systems.