Sharda Ispat has formally submitted the voting results and the Scrutinizer's Report for its 65th Annual General Meeting held on September 29, 2026. The company confirmed that all seven resolutions placed before the members were passed with a 100% majority among those who voted.

The meeting, chaired by Nandkishore Sarda, Chairman and Managing Director, was attended by shareholders in person and through remote e-voting. The statutory auditors and secretarial auditors were present, and the Company Secretary read out the observations of the secretarial auditors along with management replies. The auditors’ report contained no qualifications.

Voting outcomes for key agenda items

The scrutinizer, Sunil Kumar Sharma of Sunil Kumar Sharma & Associates, certified the results on September 30, 2026. The following table summarizes the voting status for the major resolutions transacted at the AGM:

Note: For related party transactions, promoter group votes were excluded as per regulatory norms.

Procedural details and participation

Voting was conducted through remote e-voting via the National Securities Depository Limited platform from September 24 to September 28, 2026. Additionally, polling papers were provided to members present at the venue who had not voted electronically. The record date for determining entitlement to vote was September 22, 2026.

A total of 3,941 shareholders were on the register as of the record date. During the meeting, 10 promoters and 10 public shareholders participated in person or through proxy. No shareholders attended via video conferencing. The consolidated results were declared within two working days of the conclusion of the AGM, in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Sharda Ispat reported a 17.7% decline in net profit to ₹620.24 lakh for the financial year ended March 31, 2026 (FY26), compared to ₹758.55 lakh in the previous year. The Nagpur-based steel manufacturer’s revenue from operations fell 3.3% year-on-year to ₹16,879.39 lakh, reflecting challenging market dynamics and pricing pressures in the industry.

Financial Performance

The company’s total income decreased to ₹17,258.07 lakh from ₹17,855.31 lakh in FY25. While costs of material consumed dropped by 2.5% to ₹13,959.68 lakh, finance costs surged 67.8% to ₹251.07 lakh, significantly impacting profitability. Depreciation expenses remained stable at ₹85.35 lakh.

Earnings per share (EPS) declined to ₹12.22 from ₹14.94 in the prior year. The board decided not to recommend any dividend for FY26, citing working capital requirements.

What the Numbers Show

The divergence between stable production volumes and declining revenue highlights margin compression. The company produced 27,471.38 MT of steel products in FY26, a 3.9% increase from 26,445.76 MT in FY25. However, sales value dropped, indicating that higher volumes did not translate into proportional revenue growth due to lower realizations. This suggests intense competition and price sensitivity in the spring steel flat segment.

Balance Sheet & Related Party Transactions

Total assets rose slightly to ₹10,158.71 lakh from ₹9,816.07 lakh. Borrowings decreased by 12.3% to ₹3,037.98 lakh, improving the debt-to-equity ratio to 0.46 from 0.59. Trade receivables increased significantly by 51% to ₹1,859.48 lakh, potentially signaling slower collection cycles amidst market headwinds.

The company seeks shareholder approval for material related-party transactions, including an unsecured loan of up to ₹5,000 lakh to Kyoto Merchandise Private Limited and borrowing up to ₹4,000 lakh from Shardashree Ispat Limited.

Corporate Governance & AGM

Sharda Ispat will hold its 65th Annual General Meeting on September 29, 2026. Key agenda items include the reappointment of Nandkishore Sarda as Chairman & Managing Director and Poonam Sarda as Whole-time Director for five-year terms starting April 1, 2027. The board also approved the remuneration of cost auditors M/s. Narendra Peshne and Associates at ₹35,000 plus out-of-pocket expenses.