Vraj Iron FY26 net profit falls 29.4% to ₹295.27 million

Vraj Iron and Steel reported a 29.4% decline in net profit to ₹295.27 million for the financial year ended March 31, 2026, despite a 23.8% increase in revenue from operations to ₹5,879.24 million. The board approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026 at a meeting held on May 28, 2026. The statutory auditor, M/s Amitabh Agrawal & Co., expressed an unmodified opinion on the standalone and consolidated financial results.

For the quarter ended March 31, 2026, the company recorded a net profit of ₹140.23 million, a 41.8% increase from ₹98.98 million in the corresponding quarter of the previous year. Revenue for the quarter stood at ₹1,702.08 million, up 11.2% year-on-year. The financial results were prepared in accordance with Indian Accounting Standards (Ind AS) and submitted in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Pursuant to Regulation 47 of the SEBI regulations, the extract of the audited financial results was published in Business Standard and Swadesh on May 29, 2026.

Financial Performance

The company's total expenses for FY26 increased to ₹5,561.91 million from ₹4,222.96 million in the previous year. Finance costs for the year rose to ₹21.25 million from ₹15.53 million. Earnings per share (EPS) for the year decreased to ₹8.95 from ₹13.55 in the prior year.

Metric	FY26 (₹ in Millions)	FY25 (₹ in Millions)	Change (%)
Revenue from Operations	5,879.24	4,750.31	23.8%
Total Income	5,966.01	4,788.60	24.6%
Total Expenses	5,561.91	4,222.96	31.7%
Net Profit	295.27	418.31	(29.4%)
EPS (Basic)	8.95	13.55	(33.9%)

Consolidated Results

On a consolidated basis, net profit for FY26 fell to ₹320.05 million from ₹440.87 million in the previous year. Total consolidated revenue increased to ₹5,966.01 million from ₹4,788.60 million. The company's associate, Vraj Metaliks Private Limited, contributed a share of profit of ₹24.78 million for the year. The consolidated financial results include the audited financial results of the associate, reflecting a share of profit after tax of ₹24.78 million and share of other comprehensive income of ₹0.23 million for the year ended March 31, 2026.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.20%	+0.13%	-2.61%	-0.87%	-30.14%	-51.73%

Vraj Iron and Steel Limited held a meeting of its Board of Directors on May 14, 2026, at its registered office. The board considered and approved several key governance matters, including the appointment of auditors for the financial year 2026-27, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting commenced at 03:30 P.M. and concluded at 04:15 P.M.

Auditor Appointments for FY 2026-27

The board approved the appointment of two audit firms for the financial year 2026-27, fulfilling statutory obligations under the Companies Act, 2013. The following table summarises the key details of both appointments:

Parameter:	Cost Auditor	Internal Auditor
Firm Name:	M/s. Sanat Joshi & Associates	M/s. Amit Kumar Agrawal & Co.
Firm Type:	Cost Accountants	Chartered Accountants
Registration No.:	ICMAI Firm Registration No. 000506	Firm Registration No. 024556C
Date of Appointment:	May 14, 2026	May 14, 2026
Applicable Period:	FY 2026-27	FY 2026-27
Statutory Basis:	Section 148, Companies Act, 2013	Section 138, Companies Act, 2013
Address:	"Prem Poorn", Pt. Din Dayal Upadhyay Nagar, Akash Gas Godown Road, P.O. WRS Colony, Raipur (C.G.) 492008	First Floor L-12, Sec-1 Ext, Near SBI ATM Chowk, Avanti Vihar Colony, Raipur (C.G.) 492001

Profile of Appointed Auditors

Cost Auditor: M/s. Sanat Joshi & Associates

M/s. Sanat Joshi & Associates is a Cost Accountancy firm with more than 10 years of practice. The founding partner, CMA Sanat Joshi, brings more than 20 years of practicing experience as a Cost Accountant. The firm's areas of expertise include:

Indirect Taxes
Consultancy in Cost Reduction
Maintenance of Cost Records and Cost Audit

The firm serves a large client base comprising corporate entities, as well as public and private companies operating across various sectors.

Internal Auditor: M/s. Amit Kumar Agrawal & Co.

M/s. Amit Kumar Agrawal & Co. is a Chartered Accountancy firm with 15 years of experience. The firm is led by its proprietor, Mr. Amit Kumar Agrawal, and is supported by experienced audit professionals. Its service offerings and audit scope include:

Internal audits and statutory audits
Taxation, GST, and compliance advisory services
Process and system reviews
Evaluation of internal controls
Verification of statutory compliances
Risk-based audit reporting

The firm follows a structured audit methodology in line with applicable professional standards and regulatory requirements, and has undertaken internal audit assignments for corporate entities.

Deferral of Audited Financial Results

The board also noted that the audited financial results for the quarter and financial year ended March 31, 2026, were still under process and had not been made available by the auditor at the time of the meeting. Consequently, the consideration and approval of the audited financial results, along with the Audit Report, were deferred. The matter is scheduled to be taken up at the next meeting of the Board of Directors, to be convened in due course.

The disclosures pertaining to the auditor appointments were made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The communication was signed by Priya Namdeo, Company Secretary and Compliance Officer of Vraj Iron and Steel Limited.