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.

Rhetan TMT Limited has scheduled its 42nd Annual General Meeting for September 16, 2026, at 3:30 pm. The meeting will be held via video conferencing to transact ordinary and special business, including significant changes to the company’s financial powers and board composition.

Financial Powers Expansion

The Board seeks shareholder approval to increase the company’s borrowing limit under Section 180(1)(c) of the Companies Act, 2013. The proposed limit rises from ₹200 crore to ₹300 crore, over and above the aggregate of paid-up share capital, free reserves, and securities premium. This enhancement aims to provide greater financial flexibility for working capital requirements and general corporate purposes.

Additionally, shareholders will vote on increasing the limits for loans, investments, and guarantees under Section 186 of the Companies Act, 2013. The ceiling for these activities also increases from ₹200 crore to ₹300 crore, subject to statutory caps based on free reserves and securities premium.

Related Party Transactions

The AGM agenda includes omnibus approvals for material related-party transactions (RPTs) with five entities for FY28. Each transaction is capped at ₹150 crore per entity. The related parties are:

• Ashoka Metcast Limited
• Lesha Industries Limited
• Ashnisha Industries Limited
• Gujarat Natural Resources Limited
• Lesha Ventures Private Limited

These transactions involve the sale and purchase of goods, services, and inter-corporate loans. The company disclosed that transactions with Ashoka Metcast Limited include significant loan movements, with ₹16.55 crore taken and ₹159 million repaid in the current period.

Board and Auditor Appointments

Shareholders will re-appoint Mr. Shalin Ashok Shah as Managing Director for a five-year term starting January 8, 2027. He will continue to serve without remuneration. Mrs. Jhanvi Vikas Sethi is appointed as an Independent Director for a five-year term commencing August 12, 2026. Mr. Ashok C. Shah offers himself for re-appointment as a Non-Executive Director by rotation.

M/s. GMCA & Co., Chartered Accountants, seeks re-appointment as Statutory Auditors for a second term of five years, covering FY27 through FY31.

What the Numbers Show

The proposed RPT cap of ₹150 crore per entity represents approximately 613.73% of the listed entity's annual standalone turnover for the preceding financial year. This high ratio indicates that the approved limits are substantially larger than the company's current operational scale, suggesting the approvals are intended to secure long-term flexibility rather than reflect immediate transaction volumes.