Rhetan TMT is exploring entry into the Corrosion Resistant Steel (CRS) TMT bars market as part of its strategy to diversify its product portfolio. The company is currently evaluating the feasibility of manufacturing these specialized bars, which offer enhanced durability for coastal and marine infrastructure projects.

The Ahmedabad-based steel manufacturer has already strengthened its existing product lineup by obtaining Bureau of Indian Standards (BIS) licenses for Fe500D, Fe550, and Fe550D grade Thermo Mechanically Treated (TMT) bars. This regulatory approval positions the company to expand its addressable market beyond standard Fe500 grade bars.

Strategic Expansion into CRS Segment

CRS TMT bars are designed to provide superior resistance to corrosion in harsh environments. Rhetan TMT identifies this segment as a significant growth opportunity, aiming to tap into specialized infrastructure projects such as bridges, ports, and coastal structures where longer service life and reduced maintenance are critical requirements.

The company has initiated preliminary steps toward this expansion, including:

• Exploring suitable technology tie-ups
• Undertaking requisite statutory and regulatory registrations
• Conducting technical and commercial feasibility assessments

Future steps will depend on the outcome of these evaluations and applicable government approvals.

Product Portfolio Update

Rhetan TMT’s current operations focus on manufacturing Thermo Mechanically Treated (TMT) bars. The addition of CRS bars would represent a move into value-added products, potentially broadening its customer base and enhancing competitive positioning in the construction materials sector.

Regulatory filings submitted on September 5, 2026, disclose that the company is pursuing this initiative under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Rhetan TMT Limited has scheduled its 42nd Annual General Meeting (AGM) for Wednesday, September 16, 2026, at 3:30 pm. The meeting will be conducted through Video Conferencing or Other Audio-Visual Means (OAVM). Shareholders holding shares as on the cut-off date of Wednesday, September 9, 2026, are eligible to vote.

Remote e-voting will commence at 9:00 am on Sunday, September 13, 2026, and conclude at 5:00 pm on Tuesday, September 15, 2026. The facility is provided by Central Depository Services Limited (CDSL). The company will close its register of members and share transfer books from Thursday, September 10, 2026, to Wednesday, September 16, 2026, both days inclusive.

Key Dates

AGM Agenda Items

The notice of the AGM along with the annual report for FY26 has been sent electronically to registered email IDs. Key resolutions include:

• Re-appointment of Managing Director: Shareholder approval is sought for the re-appointment of Mr. Shalin Ashok Shah as Managing Director for a further period of five years, effective from January 8, 2027, to January 7, 2032. He currently draws no remuneration.
• Increase in Borrowing Limits: The Board proposes increasing the borrowing limit under Section 180(1)(c) of the Companies Act, 2013, from ₹200 crore to ₹300 crore. This aims to provide greater financial flexibility for working capital and business operations.
• Increase in Loans/Investments Limits: The limit for loans, guarantees, and investments under Section 186 of the Companies Act, 2013, is proposed to be increased from ₹200 crore to ₹300 crore.
• Related Party Transactions (RPTs): Approval is sought for material related party transactions with Ashoka Metcast Limited, Ashnisha Industries Limited, Lesha Industries Limited, Gujarat Natural Resources Limited, and Lesha Ventures Private Limited. Each transaction is capped at ₹150 crore for FY27-28.
• Auditor Re-appointment: Re-appointment of M/s. GMCA & Co., Chartered Accountants, as Statutory Auditors for a second term of five years until the conclusion of the 47th AGM in 2031.
• Director Appointments: Re-appointment of Mr. Ashok C. Shah as Non-Executive Director by rotation. Appointment of Mrs. Jhanvi Vikas Sethi as an Independent Director for a five-year term from August 12, 2026, to August 11, 2031.

Financial Performance FY26

The company reported a profit after tax of ₹1,029.78 lakh for FY26, compared to ₹309.50 lakh in FY25. Revenue from operations stood at ₹2,444.07 lakh, down from ₹3,716.48 lakh in the previous year. Other income rose significantly to ₹851.65 lakh from ₹342.83 lakh in FY25.

What the Numbers Show

While revenue from operations declined by approximately 34% YoY, net profit surged more than threefold. This divergence is primarily driven by a sharp increase in other income, which rose from ₹342.83 lakh in FY25 to ₹851.65 lakh in FY26. Other income now constitutes roughly 26% of total income, highlighting a shift in profit composition away from core operational sales toward non-operating gains during the fiscal year.