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.

Rhetan TMT Limited submitted its Business Responsibility and Sustainability Report (BRSR) for FY26 to the Bombay Stock Exchange and National Stock Exchange on August 25, 2026.

The report covers the company's standalone operations, which are concentrated in the manufacturing of iron and steel products. The firm operates a single plant and office location within Gujarat, serving the domestic construction sector.

Operational Metrics

Rhetan TMT's turnover for FY26 stood at ₹37.16 crore, while its net worth was reported at ₹93.98 crore. The company did not incur any CSR obligations under Section 135 of the Companies Act, 2013 during the period.

Energy and Environmental Data

Total energy consumption decreased significantly year-on-year. The company consumed 2,942.97 GJ of energy in FY26, down from 4,480.35 GJ in FY25. This reduction was driven by lower electricity usage from non-renewable sources, which fell to 2,919.23 GJ from 4,400.63 GJ.

Water withdrawal remained stable at 695 kilolitres, sourced entirely from groundwater. The entity reported zero liquid discharge and no hazardous waste generation.

Workforce and Safety

The workforce consisted of 40 permanent employees and 37 non-permanent workers as of the end of FY26. Female representation among permanent employees was 7.32%, while the board included one female director out of six members.

The company recorded no lost-time injuries or fatalities for either employees or workers in FY26 or FY25. One health and safety grievance remained pending resolution at the close of the financial year.

What the Numbers Show

The divergence between rising related-party purchases and falling sales concentration warrants attention. Purchases from related parties jumped to 64.30% of total purchases in FY26, up sharply from 34.71% in FY25. Conversely, sales concentration among the top 10 dealers declined to 81.76% from 92.30%, suggesting a broadening of the distribution base despite deeper upstream integration.