Steelco Gujarat Limited Schedules Board Meeting on March 12, 2026 to Deliberate Rights Issue Matters

1 min read Updated on 05 Mar 2026, 06:17 PM

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Jubin VScanX News Team

Overview

Steelco Gujarat Limited has scheduled a Board of Directors meeting for March 12, 2026, to consider and approve various matters relating to its proposed Rights Issue, including determination of record date and issue schedule. This follows the company's earlier February 19, 2026 intimation regarding cancellation of previously announced record date and timelines. The meeting has been announced in compliance with SEBI Regulation 29, with formal notification provided to BSE Limited where the company trades under scrip code 500399.

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Steelco Gujarat Limited has announced that its Board of Directors will meet on March 12, 2026, to deliberate on various aspects of the company's proposed Rights Issue. The meeting has been scheduled in compliance with Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Meeting Agenda and Key Matters

The board meeting will focus on several critical aspects of the Rights Issue process. The directors will consider and approve various matters relating to the proposed Rights Issue, with particular attention to determining the record date and finalizing the issue schedule.

Meeting Details:	Information
Date:	March 12, 2026
Day:	Thursday
Primary Agenda:	Rights Issue matters
Regulatory Framework:	SEBI Regulation 29

Previous Developments

This board meeting announcement comes as a continuation of the company's earlier communication dated February 19, 2026. In that previous intimation, Steelco Gujarat Limited had informed about the cancellation of the previously announced record date and related timelines concerning the Rights Issue. The upcoming meeting appears to be aimed at establishing new timelines and parameters for the Rights Issue process.

Regulatory Compliance

The company has formally notified BSE Limited about the scheduled board meeting, fulfilling its obligation under SEBI's listing regulations. Steelco Gujarat Limited trades on BSE with scrip code 500399. The notification was signed by Anoop Kumar Saxena, Managing Director, with DIN 10311727, and was digitally executed on March 5, 2026.

Steelco Gujarat Reports Q3 FY26 Results and Appoints Two New Directors

2 min read Updated on 14 Feb 2026, 06:07 PM

Reviewed by

Radhika SScanX News Team

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Overview

Steelco Gujarat Limited announced its Q3 FY26 financial results showing revenue from operations of ₹552.68 lakhs compared to ₹164.75 lakhs in the previous year. The company also made significant board changes by appointing two new directors - Mr. Subir Kumar Chowdhury as Independent Director for 3 years and Mr. Deepak Sharma as Executive Director for 2 years, both effective from February 14, 2026.

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Steelco Gujarat Limited has released its unaudited standalone financial results for the third quarter and nine months ended December 31, 2025. The Board of Directors approved these results at their meeting held on February 14, 2026, following recommendations from the Audit Committee. The board meeting commenced at 03:57 p.m. and concluded at 04:47 p.m.

Financial Performance Overview

The company's financial performance for the reporting period shows significant changes in revenue and operational metrics compared to the previous year.

Financial Metric	Q3 FY26	Q3 FY25	Nine Months FY26	Nine Months FY25
Revenue from Operations (₹ lakhs)	552.68	164.75	2,488.44	214.48
Other Income (₹ lakhs)	58.90	100.82	251.17	272.01
Total Income (₹ lakhs)	611.58	265.57	2,739.61	486.49
Loss for the Period (₹ lakhs)	(870.41)	(638.02)	(2,121.64)	(1,283.22)

Board Appointments

The Board of Directors approved two key appointments during the meeting. Mr. Subir Kumar Chowdhury (DIN: 03633998) has been appointed as Additional as well as Independent Director for a first term of 3 years, effective February 14, 2026. Additionally, Mr. Deepak Sharma (DIN: 11484653) has been appointed as Additional as well as Executive Director for a term of 2 years, also effective February 14, 2026. Both appointments are subject to shareholder approval.

Director Details	Subir Kumar Chowdhury	Deepak Sharma
Position	Independent Director	Executive Director
Term	3 years	2 years
Effective Date	February 14, 2026	February 14, 2026
Relationship Status	Not related to any Director	Not related to any Director

Earnings Per Share Analysis

The company's earnings per share metrics reflect the operational challenges during the reporting period.

EPS Metric	Q3 FY26	Q3 FY25	Nine Months FY26	Nine Months FY25
Basic EPS (₹)	(7.52)	(12.85)	(42.72)	(25.84)
Diluted EPS (₹)	(7.52)	(12.85)	(42.72)	(25.84)

The paid-up equity share capital remained constant at ₹496.60 lakhs with a face value of ₹10 per share across all reporting periods.

Debenture Issuance

During Q3 FY26, Steelco Gujarat issued secured, redeemable, non-convertible debentures on a private placement basis. The company issued up to 16,000 NCDs with a face value of ₹1,00,000 each, aggregating to ₹160 crore, of which ₹140 crore represents the partly paid-up issue size. The NCDs carry an Investor IRR of 21.90% per annum, comprising variable interest and redemption premium. These debentures are proposed to be listed on the Wholesale Debt Market segment of BSE Limited.

Regulatory Compliance and Audit

The financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013. The unaudited financial results were subjected to limited review by the company's statutory auditors, M/s. M Sahu & Co, Chartered Accountants. The company continues to assess the financial impact of New Labour Codes on its employee benefit obligations in accordance with Ind AS 19.