Steel Strips Infrastructures Ltd has finalized the transfer of management rights for SAB Mall, NOIDA, securing a total consideration of Rs.2.25 crore. The company received Rs.1.00 crore towards management rights and Rs.1.25 crore as sale consideration following the execution of an addendum agreement. The proceeds from this transaction will be utilized to pay the liabilities of the company.

The SAB Mall unit contributed Rs.136.03 Lakhs, representing 97.93% of the company's total revenue during the last financial year ended March 31, 2026. This income was generated from rental operations, hoarding and publicity charges, parking receipts, and maintenance fees. Despite the revenue contribution, the unit made no contribution to the net worth as the company is loss-making.

Transaction Details

The buyers identified in the regulatory filing are M/s. SMC Enterprises Private Limited and M/s Shubham Properties Private Limited. M/s. SMC Enterprises paid Rs.1.25 Crores and operates in logistics, supply chain, and commercial real estate. M/s Shubham Properties, a sister concern, paid Rs.1.00 Crores and specializes in real estate ownership and management. The companies confirmed that the buyers are not related to the promoter or promoter group, and the transaction does not qualify as a related party transaction.

Future Obligations

While the management rights have been transferred and original title documents handed over, the Sub-Lease Deed execution is pending. This final step is contingent upon the clearance of dues with the NOIDA Authority and the completion of related formalities. The expected date for the completion of the sale or disposal is August 10, 2026. However, the buyer retains the option to extend the timeline or cancel the Memorandum of Understanding (MOU) and Agreement to Sell if necessary clearances, such as a No Due Certificate, are not received within the stipulated time.

Steel Strips Infrastructures reported a standalone net loss of ₹66.28 crore for the financial year ended March 31, 2026, an improvement from the net loss of ₹86.43 crore recorded in the previous year. Revenue from operations for FY26 rose to ₹136.03 crore compared to ₹128.81 crore in FY25. The company's total income stood at ₹143.07 crore for the year, up from ₹131.53 crore in the prior year.

For the quarter ended March 31, 2026, the company posted a net loss of ₹7.39 crore, compared to a net loss of ₹10.39 crore in the corresponding quarter of the previous year. Revenue from operations for Q4FY26 was ₹33.79 crore, slightly higher than ₹33.04 crore in the same period last year. Total expenses for the quarter were ₹44.15 crore, while total expenses for the full year decreased to ₹209.35 crore from ₹217.96 crore in FY25.

The Board of Directors, in its meeting held on May 29, 2026, approved the standalone and consolidated audited financial results along with the auditor's report. S.C. Dewan & Co., Chartered Accountants, audited the results and issued an unmodified opinion. The report confirmed that the financial statements give a true and fair view of the company's financial position.

Consolidated Performance

On a consolidated basis, the company reported a net loss of ₹345.25 crore for FY26, significantly narrower than the net loss of ₹1,684.63 crore in FY25. This reduction was primarily driven by the share of loss from associates, which stood at ₹278.97 crore for the year, compared to ₹1,598.20 crore in the previous year. Consolidated revenue from operations remained consistent at ₹136.03 crore.

For the quarter ended March 31, 2026, the consolidated net loss was ₹876.30 crore, compared to a loss of ₹793.69 crore in the corresponding quarter of the previous year. The loss for the quarter included a share of loss from associates amounting to ₹868.91 crore. Total comprehensive income for the year was a loss of ₹426.11 crore.

Financial Position and Appointments

The standalone balance sheet as of March 31, 2026, showed total assets of ₹1,440.10 crore, a decrease from ₹1,531.13 crore in the previous year. Non-current assets, primarily comprising investments of ₹285.23 crore, totaled ₹386.39 crore. Current assets stood at ₹1,053.71 crore, with inventories valued at ₹824.14 crore. The company's equity showed a negative balance of ₹178.17 crore.

The Board appointed M/s Gupta Abhinav & Associates, Chartered Accountants, as internal auditors for the financial year 2026-27, effective May 29, 2026. This appointment was made to comply with the provisions of Section 138 of the Companies Act, 2013.