P S Raj Steels Limited will seek shareholder approval to sub-divide its equity shares from a face value of Rs 10 to Rs 2 each, a move aimed at enhancing liquidity and making shares more affordable for retail investors. The proposal, which will split each existing share into five, is scheduled for a vote at an Extraordinary General Meeting (EGM) on July 7, 2026. The company also seeks approval for material related party transactions worth up to Rs 6944 lakh for the financial year 2026-2027.

The Board of Directors approved the share split proposal on May 29, 2026, subject to shareholder consent. The sub-division will alter the company's authorized share capital to 4,00,00,000 equity shares of Rs 2 each, maintaining the total capital at Rs 8 crore. The issued, subscribed, and paid-up capital will adjust to 3,76,91,570 shares of Rs 2 each, totaling Rs 7,53,83,140. The record date for determining shareholder eligibility is June 30, 2026.

Share Sub-Ddivision Details

The following table outlines the changes in the company's share capital structure:

Related Party Transactions

Shareholders will also vote on ordinary resolutions to approve material related party transactions with Sheela Stainless Private Limited and Steelmint Industries Private Limited. The aggregate value of transactions with Sheela Stainless Private Limited is proposed at Rs 3344 lakh, representing 12.57% of the company's annual turnover of Rs 26599.44 lakh. Transactions with Steelmint Industries Private Limited are proposed at Rs 3600 lakh, representing 13.53% of the annual turnover.

The Audit Committee and Board reviewed these transactions on May 29, 2026, determining they are in the ordinary course of business and on an arm's length basis. The approval is required to comply with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as the company's net worth exceeded Rs 25 crore in the previous financial year.

EGM and Voting Schedule

The EGM will be held physically at the Corporate Office in Hisar, Haryana. Remote e-voting will be available from July 4, 2026, at 9:00 A.M. to July 6, 2026, at 5:00 P.M. CA Akanksha Chugh & Associates has been appointed as the scrutinizer for the voting process. The register of members will remain closed from July 1, 2026, to July 7, 2026.

P S Raj Steels Limited reported a 30.51% surge in net profit to ₹4.62 crore for the half-year ended March 31, 2026 (H2FY26), driven by cost reductions and advanced welding technology. The stainless-steel pipes and tubes manufacturer posted an operating income of ₹135.78 crore, an increase of 7.29% from ₹126.55 crore in the same period last year. EBITDA for the half-year rose 18.26% to ₹7.06 crore, compared to ₹5.97 crore in H2FY25.

The company attributed the strong performance to effective cost control measures, including the adoption of advanced welding technology that reduced processing costs and store consumption expenses. Additionally, the installation of solar panels contributed to lower electricity costs. The financial results also reflected a reduction in interest expenses and short-term borrowings, indicating a strengthened financial position.

For the full year FY26, p s raj steels recorded a 15.79% increase in net profit to ₹8.58 crore, up from ₹7.41 crore in FY25. Operating income for the year grew marginally by 1.18% to ₹265.99 crore from ₹262.89 crore in the previous year. Earnings per share (EPS) for FY26 stood at ₹11.38, a 15.77% increase from ₹9.83 in FY25.

Financial Performance Summary

Management Commentary

Deepak Kumar, Managing Director of P S Raj Steels Limited, highlighted the strong traction in the company's product portfolio, which accelerated both topline and bottomline growth. He noted that demand for stainless steel pipes and tubes received a significant boost from government infrastructure and manufacturing initiatives, coupled with real estate sector demand. Following capacity expansion, the company expects sustained demand to drive healthy earnings in upcoming reporting periods.