Maithan Alloys has submitted its Business Responsibility and Sustainability Report (BRSR) for FY26 to stock exchanges. The filing details the company’s environmental, social, and governance metrics alongside key financial disclosures.

The company reported a turnover of ₹2,188.90 crore and a net worth of ₹4,151.54 crore for the financial year. CSR provisions under Section 135 of the Companies Act, 2013 apply to the entity based on these figures.

Operational Metrics

Maithan Alloys operates three plants and two offices across India. Its business activities are split between manufacturing metal products, which contributed 71.82% of turnover, and wholesale trading at 26.43%. Exports accounted for 64.33% of total turnover, with the company serving markets in 22 countries.

Environmental Disclosures

The company disclosed significant water usage and waste management data for FY26 compared to FY25.

Air emissions showed mixed trends. Nitrogen oxides (NOx) fell from 19.15 to 18.22 microgram/cum, while particulate matter (PM) rose from 55.04 to 68.38 microgram/cum. The company stated it does not have a Zero Liquid Discharge mechanism in place.

Social and Governance Data

As of the end of FY26, Maithan Alloys employed 446 permanent employees and 1,229 workers. Female representation among permanent employees was minimal, with only two women (0.45%). The board comprises eight directors, including one woman (12.50%).

Safety records remained clean with nil lost-time injury frequency rates (LTIFR) and zero fatalities reported for both employees and workers. The company conducted health and safety assessments covering 100% of its plants and offices.

What the Numbers Show

Water intensity per rupee of turnover increased from 0.011 in FY25 to 0.014 in FY26. This rise occurred despite a reduction in landfilling waste volume, suggesting that operational scaling or process changes may have impacted water efficiency relative to revenue generation during the period.

Maithan Alloys revised its standalone financial results for the quarter and financial year ended March 31, 2026, increasing its net profit after tax (PAT) for FY26 to ₹434.77 crore from the previously reported ₹428.40 crore. The adjustment stems from the effective merger of its wholly-owned subsidiary, Impex Metal & Ferro Alloys Limited, sanctioned by the National Company Law Tribunal (NCLT) Kolkata Bench on June 8, 2026, with an appointed date of March 31, 2024. While standalone figures were restated under Ind AS 103, consolidated results remained unchanged because Impex was already fully consolidated in prior filings. This revision ensures accurate reflection of the group’s financial position without altering operational performance metrics.

The Board of Directors approved the revised standalone and consolidated financial results at a meeting held on August 4, 2026. Statutory auditors Singhi & Co. issued unmodified audit opinions on the revised statements, complying with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The revision was limited solely to the impact of the merger; no other adjustments were made for events occurring after the initial approval date of May 16, 2026. The company confirmed that the final dividend recommendation of ₹6 per equity share for FY26 remains unchanged, pending shareholder approval at the upcoming Annual General Meeting.

Revised Financial Highlights

The table below details the key changes in standalone financial metrics for the quarter and year ended March 31, 2026, compared to the earlier reported figures.

For FY26, standalone revenue from operations stood at ₹2,188.90 crore, while total income reached ₹2,631.85 crore. Other income contributed significantly, totaling ₹442.95 crore for the year, driven largely by fair value gains and realized gains on investments. The ferro alloys segment generated ₹2,188.90 crore in revenue for FY26, maintaining its position as the primary revenue driver.

What the Numbers Show

The revision highlights the accounting impact of merging entities under common control rather than operational changes. While standalone PAT improved by ₹6.37 crore in FY26 due to the merger adjustments, consolidated profitability remained static at ₹440.94 crore for the year. A notable operational factor was a ₹25.33 crore refund in demand charges recognized in Q4FY26, following a Government of Andhra Pradesh notification extending tariff concessions for ferro alloy producers until March 31, 2026. This refund reduced power costs during the quarter, contributing to the improved bottom line despite a loss before tax of ₹95.03 crore in the standalone Q4FY26 statement. The company also disclosed no material financial impact from the new Labour Codes notified by the Government of India in November 2025.