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.

Maithan Alloys Limited acquired a 0.29% stake in Sterlite Technologies Limited on August 4, 2026, purchasing 1,483,256 equity shares for a total consideration of ₹91.24 crore. The acquisition, completed through the stock exchange, triggers disclosure requirements under Regulation 30 of the SEBI (LODR) Regulations, 2015, as it crosses the prescribed threshold limit. Maithan Alloys confirmed that the purchase is strictly for investment purposes, aiming to reap long-term and short-term financial benefits, with no intention to acquire direct or indirect control over the management of the target entity.

The transaction was disclosed to the National Stock Exchange of India Ltd., the Calcutta Stock Exchange Limited, and BSE Limited on August 5, 2026, following the triggering of the threshold on August 4 at 3:30 P.M. Maithan Alloys became aware of the detailed particulars of the acquisition on August 5 at 10:14 A.M. The company stated that the acquisition was conducted at arm's length and does not constitute a related party transaction. Furthermore, Maithan Alloys confirmed that its promoters, promoter group, or group companies hold no interest in Sterlite Technologies.

Sterlite Technologies operates in the telecom equipment and accessories sector, manufacturing optical fibres, cables, and connectivity products. The company maintains integrated manufacturing operations across nine facilities in India, Italy, the United States, and China. As of March 31, 2026, Sterlite Technologies reported a turnover of ₹2,446 crore, a net profit after tax (PAT) of ₹2 crore, and a net worth of ₹1,526 crore. The target entity was incorporated on March 24, 2000.

Financial Overview of Target Entity

The following table outlines the financial performance of Sterlite Technologies Limited for the last three fiscal years, based on data from its annual report and website:

Maithan Alloys noted that no governmental or regulatory approvals were required for this acquisition. The company emphasized that the shares form part of its investment portfolio. The disclosure was submitted in compliance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026, updated on January 30, 2026. Rajesh K. Shah, Company Secretary of Maithan Alloys, signed the disclosure letter dated August 5, 2026.

What the Numbers Show

Sterlite Technologies' turnover declined significantly in FY26 to ₹2,446 crore from ₹3,952 crore in FY24, before recovering slightly to ₹2,215 crore in FY25. Despite the revenue contraction, the company maintained a substantial net worth of ₹1,526 crore as of March 31, 2026. Maithan Alloys' entry into the shareholder base reflects a strategic diversification into the telecom infrastructure sector, albeit with a minority stake that carries no governance rights.