Steel Strips Infrastructures Limited shareholders approved the reappointment of Humesh Kumar Singhal as Non-Executive Independent Director for a second five-year term. The decision was taken at the company's 53rd Annual General Meeting held on September 30, 2026.

The AGM also ratified the reappointment of Sanjay Garg as Managing Director for a period of five years, effective February 14, 2027. Both appointments were made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key resolutions passed

The shareholders transacted the following business items as outlined in the notice dated August 13, 2026:

• Adoption of the financial statements for FY26 along with the Board of Directors' and Auditors' reports.
• Reappointment of Rajinder Kumar Garg, who retired by rotation and was eligible for re-appointment.
• Reappointment of Humesh Kumar Singhal as Non-Executive Independent Director for a second term of five years, effective October 1, 2026, to September 30, 2031.
• Reappointment of Sanjay Garg as Managing Director for a period of five years, effective February 14, 2027, without any remuneration.

Director profiles and tenure details

The new data provides specific details regarding the qualifications and tenure of the reappointed directors:

Shri Humesh Kumar Singhal has been a director of the company since February 21, 2000. Shri Sanjay Garg's guidance and experience have contributed significantly to managing the affairs of the company since his association began in 2001. Neither director is related to any other Director or Key Managerial Personnel, nor are they debarred from holding office by SEBI or other authorities.

Governance and voting details

The meeting was attended by Independent Directors Tejinder Kaur and Humesh Kumar Singhal. Ms. Deepika Gupta, Company Secretary and Compliance Officer, read the Auditors' Report. The Board appointed Sushil Kumar Sikka, Practicing Company Secretary, as the Scrutinizer to supervise the e-voting and poll process.

Voting results disclosed in the scrutinizer's report indicate strong shareholder support for all resolutions. The total number of shares voted across all items was 4,731,842, representing 54.75% of the total outstanding shares of 8,643,000. Promoters and promoter group members voted 4,260,200 shares, accounting for 98.14% of their holding, while public shareholders (non-institutions) voted 471,642 shares, representing 10.97% of their holding.

For the three director-related resolutions, only 100 votes were cast against each, all via e-voting by public non-institutional shareholders. No invalid votes were recorded for any resolution. The meeting commenced at 11:30 am and concluded at 11:55 am.

Steel Strips Infrastructures reported a net loss of ₹66.28 lakh for the financial year ended March 31, 2026, narrowing from the ₹86.43 lakh loss in FY25. The company has released its Annual Report for FY26 and issued notice for its 53rd Annual General Meeting (AGM), scheduled for September 30, 2026.

Financial Performance

Revenue from operations rose to ₹136.03 lakh in FY26, up from ₹128.81 lakh in the prior year. Despite top-line growth, total expenses stood at ₹209.35 lakh, driven largely by office upkeep expenses of ₹133.31 lakh and employee benefits of ₹39.81 lakh.

Other income increased significantly to ₹7.04 lakh from ₹2.72 lakh previously, primarily due to higher interest income of ₹5.40 lakh. Finance costs dropped sharply to ₹0.02 lakh from ₹10.28 lakh, reflecting lower interest burdens compared to the previous fiscal period.

Strategic Asset Divestment

The most significant operational development during the year was the execution of an agreement to sell four remaining shops at its SAB Mall property in Noida. The company signed an agreement with SMC Enterprises Private Limited for a consideration of ₹15 crore, receiving ₹12.50 crore during the year.

Additionally, Steel Strips Infrastructures entered into a memorandum of understanding with Shubham Properties Private Limited for the transfer of management rights and residual assets of the mall for ₹2 crore, having received ₹1 crore so far. Management intends to utilize these proceeds to pay off company liabilities and expects to complete these transactions in FY27.

Corporate Governance and AGM Details

The Board of Directors has not recommended any dividend for the year due to the losses incurred. At the upcoming AGM on September 30, 2026, shareholders will consider the reappointment of Humesh Kumar Singhal as an independent director for a second five-year term. Sanjay Garg is also up for reappointment as managing director for five years without remuneration.

The Annual Report for FY26 is available on the company website and BSE. Shareholders who have not registered email addresses were sent letters with web-links in compliance with Regulation 36(1)(b) of the SEBI Listing Regulations. The company has also noted the SEBI Master Circular allowing a special window for dematerialization of physical securities sold or purchased prior to April 1, 2019, valid until February 4, 2027.

Remote e-voting for the AGM will commence on September 27, 2026, at 9:00 am and end on September 29, 2026, at 5:00 pm. Members holding shares as on the cutoff date of September 23, 2026, may cast their votes electronically through the Central Depository Services (India) Limited system. The Register of Members and Share Transfer Books will remain closed from September 24, 2026, to September 30, 2026.

What the Numbers Show

The reduction in net loss was supported by a substantial decrease in finance costs rather than operational efficiency alone. While revenue grew modestly, the sharp decline in interest expenses—from ₹10.28 lakh to near zero—played a critical role in improving the bottom line. This suggests the company has successfully reduced its debt burden or refinanced obligations, shifting focus toward asset monetization to further stabilize its balance sheet.