Mahamaya Steel Industries reported a 41% year-on-year increase in standalone net profit to ₹87.38 crore for the fiscal year ended March 31, 2026. Total revenue from operations grew 10.1% to ₹8,828.48 crore, supported by improved capacity utilization and operational efficiency.

The company's profit before tax (PBT) rose 40% to ₹12.09 crore. This growth occurred despite a significant increase in finance costs, which jumped 29% to ₹5.02 crore from ₹3.89 crore in the previous year. Depreciation expenses also increased to ₹8.81 crore from ₹7.87 crore.

Financial Performance

Revenue from operations stood at ₹8,828.48 crore compared to ₹8,017.64 crore in FY25. Other income contributed ₹1.58 crore to the total revenue of ₹8,844.24 crore.

What the Numbers Show

A divergence exists between the company's operating performance and its bottom-line profitability. While EBITDA grew 26.5% to ₹25.23 crore, net profit surged 41%. This disparity is largely driven by exceptional items, which contributed ₹0.68 crore in FY26 compared to ₹0.45 crore in FY25. Additionally, the effective tax rate management played a role, with deferred tax credits offsetting current tax provisions.

Strategic Initiatives

The board highlighted a major capital expenditure project: a 130 MW solar power plant for captive consumption at the Janjgir-Champa facility. The project requires an outlay of approximately ₹600 crore and is funded through internal accruals and debt. Commissioning is expected within six to eight months.

This initiative aims to reduce dependence on conventional power, lower energy costs, and support the company's ESG goals. The board also noted plans to develop a logistics park on 100 acres of owned land in the coming years, though this will follow the completion of the solar project.

Corporate Actions

No dividend was declared for FY26 as the board chose to conserve resources for long-term growth. The company redeemed 10 million 8% redeemable non-convertible preference shares during the year. The 38th Annual General Meeting is scheduled for September 25, 2026.

Mahamaya Steel Industries has scheduled a Board of Directors meeting for Monday, August 31, 2026. The session will focus on administrative approvals for the company's upcoming annual general meeting.

The meeting is set to commence at 11:00 am at the company's registered office in Raipur, Chhattisgarh. Management will convene to finalize procedural aspects of the 38th Annual General Meeting (AGM).

Agenda Items

The board will consider and approve the following matters:

• Approval of the Board's Report, Corporate Governance Report, and Notice of the 38th AGM
• Approval of the book closure period for the AGM
• Determination of the cut-off date for eligibility to participate in remote e-voting and e-voting at the AGM
• Any other matter with the permission of the Chair

This intimation is issued pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has communicated this notice to both the Bombay Stock Exchange and the National Stock Exchange of India.