SRU Steels Limited reported zero revenue from operations for the first quarter of fiscal year 2027 (Q1FY27), ending June 30, 2026. The company posted a net loss after tax of ₹6.73 lakh, a sharp reversal from the profit of ₹134.76 lakh recorded in the corresponding quarter of the previous fiscal year.

The Board of Directors approved the unaudited standalone financial results during a meeting held on October 9, 2026. The results were reviewed by Bihari Shah & Co., Chartered Accountants, who issued a limited review report stating that nothing came to their attention causing them to believe the statement contained material misstatements.

Financial Performance Overview

The company’s top line collapsed to nil in Q1FY27, compared to ₹2,316.32 lakh in Q1FY26 and ₹275.46 lakh in the immediately preceding quarter (Q4FY26). Total income also stood at zero, as other income remained negligible at ₹0.00 lakh. Expenses continued despite the lack of revenue, totaling ₹6.73 lakh for the quarter, driven primarily by other expenses of ₹5.49 lakh and depreciation of ₹1.12 lakh.

Segment Analysis

Segment reporting reveals that all business verticals, including Steel, Commodities, and Construction Machinery, generated zero revenue in Q1FY27. In the previous year’s first quarter, the Commodities segment contributed ₹1,941.89 lakh and Steel contributed ₹282.30 lakh. The complete absence of segment revenue suggests a halt in operational activities across all identified business lines during this period.

What the Numbers Show

A significant divergence exists between the company’s asset base and its income generation capability. While total assets rose to ₹6,725.58 lakh in Q1FY27 from ₹1,763.83 lakh in Q4FY26, driven largely by an increase in Steel segment assets, this capital expansion did not translate into any revenue. The loss incurred is entirely attributable to fixed costs such as depreciation and administrative expenses, indicating that the company is bearing overheads without any offsetting operational inflows.

SRU Steels Limited passed all three ordinary resolutions at its 31st Annual General Meeting held on September 30, 2026, with public non-institutional shareholders casting over 99% of polled votes in favour of each item.

The meeting was conducted via Video Conferencing and Other Audio Visual Means from the company's registered office in New Delhi, commencing at 4:00 pm and concluding at 4:19 pm. Voting was facilitated through Central Depository Services Limited (CDSL) as the e-voting agency, with the e-voting period open from September 27, 2026 at 9:00 am to September 29, 2026 at 5:00 pm. A total of 132 members cast votes through remote e-voting, while 3 members voted through e-voting at the time of the AGM.

Key resolutions passed

Shareholders voted on three ordinary business items, all of which were passed with requisite majority:

• Adoption of audited financial statements for FY26 along with board and auditor reports.
• Reappointment of Anand Singh (DIN: 11329642), who retired by rotation under Section 152 of the Companies Act, 2013.
• Appointment of M/s Bihari Shah & Co., Chartered Accountants (FRN No: 119020W) as statutory auditor for a term of five consecutive years, from the conclusion of the 31st AGM till the conclusion of the 36th Annual General Meeting to be held in the financial year 2030-31.

Voting results

All voting activity was confined to the public non-institutional category, with no votes polled from promoter and promoter group or public institutional shareholders. The following table summarises the e-voting outcome across all three resolutions:

Meeting participation details

The company reported a total shareholder base of 21,089 as of the record date, September 23, 2026. The quorum was constituted with 46 public shareholders attending through video conferencing, while no promoter group members attended virtually and no shareholders were present in person or through proxy.

Vishakha Agrawal of Vishakha Agrawal & Associates (Membership No: 39298), Practicing Company Secretaries, Indore, served as the scrutinizer appointed by the board on September 8, 2026, and issued the scrutinizer's report on September 30, 2026. The voting results were disclosed to stock exchanges in compliance with Regulation 44 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.