Scan Steels Ltd has detailed a comprehensive ₹3,850 crore expansion strategy aimed at scaling its finished steel capacity to approximately 7.5 LTPA by FY31. The board approved this roadmap and the associated investor presentation on June 19, 2026, to support long-term growth through capacity augmentation and value-chain integration. The plan targets a significant increase in revenue and EBITDA, leveraging the company's integrated secondary steel model and brand strength in Odisha.

The growth strategy is structured around three distinct themes. Theme 1 focuses on increasing billet capacity by 50% to 3 LTPA by September 2026, which will enable full utilization of the existing 3 LTPA TMT capacity. Theme 2 involves establishing a 2 LTPA pipe mill and galvanizing facility by Q3FY28 to capture higher-margin infrastructure demand. Theme 3 encompasses a major greenfield expansion, including a 12 LTPA pellet plant, a 2.5 LTPA DRI unit, and a 50 MW captive power plant, scheduled for commissioning by Q3FY31.

Financially, the company reported audited FY26 revenue of ₹838 crore, EBITDA of ₹49 crore, and a net debt-to-equity ratio of 0.16x. Management estimates that the full execution of the expansion themes could drive revenue to approximately ₹4,133 crore and EBITDA to ₹575 crore by FY31. The presentation clarifies that these forward-looking figures are management estimates and not formal guidance. The ₹3,850 crore project cost is planned to be funded through a mix of fresh equity and internal accruals, with term debt allocation currently nil.

Prabir Kumar Das, Company Secretary & Compliance Officer, signed the intimation regarding the investor presentation on June 19, 2026. The document, prepared for forthcoming investor meets, outlines the business operations, industry overview, and the strategic rationale behind the capacity expansion. The company emphasized that the presentation is for information purposes only and does not constitute an offer for securities.

Scan Steels Limited has received in-principle approval from BSE Limited for a proposed preferential issue of Optionally Convertible Preference Shares (OCRPS), the company disclosed in a regulatory filing dated May 13, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Details of the Preferential Issue

The approval, granted vide BSE letter No. LOD/PREF/KS/FIP/1162/2024-25 dated November 17, 2025, covers the issuance of OCRPS to both promoters and non-promoters on a preferential basis. The following table summarises the key parameters of the proposed issue:

Listing Application Submitted to BSE

Pursuant to the allotment of the equity shares arising from the conversion of OCRPS, Scan Steels has submitted a listing application on the BSE Listing Centre on May 12, 2026, to obtain the requisite listing approval for the aforesaid equity shares. The filing was made in accordance with Regulation 14 of the LODR Regulations.

Regulatory Compliance Requirements

BSE, in its in-principle approval letter, advised the company to ensure that the issue and allotment of securities is strictly in accordance with applicable regulations, including:

• The Companies Act, 2013
• Securities Contracts (Regulation) Act, 1956
• SEBI Act, 1992 and the Depositories Act, 1996
• Chapter V of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (ICDR Regulations)
• SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

The Exchange also directed the company to strengthen internal controls to monitor trades executed by proposed allottees in the company's scrip prior to allotment. Specifically, the company is required to obtain an undertaking from allottees confirming that they shall not engage in intra-day trading or any sale in the company's scrip until the allotment date, in compliance with Regulation 167(6) of SEBI ICDR Regulations, 2018.

Important Conditions and Disclaimers

BSE clarified that the in-principle approval does not constitute approval for the listing of the aforesaid securities, and the company is required to separately comply with all listing-related requirements. As per Schedule XIX – Para (2) of ICDR Regulations and SEBI circular no. SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023, the company is required to make an application for listing within twenty days from the date of allotment to one or more recognised stock exchange(s). Non-compliance with this requirement will attract fines as specified in the said SEBI circular. The Exchange also reserved its right to withdraw the in-principle approval if information submitted is found to be incomplete, incorrect, misleading, or false, or if it contravenes applicable rules and regulations.

The filing was signed by Prabir Kumar Das, Company Secretary & Compliance Officer (Membership No.: F6333), on behalf of Scan Steels Limited.