Arcee Industries Limited announced its unaudited financial results for the third quarter of FY26 ended December 31, 2025, alongside several major corporate restructuring decisions approved by the board of directors on January 29, 2026.

Financial Performance Q3 FY26

The company reported a net loss of Rs 6.21 lakh for Q3 FY26, representing a 25.45% increase in losses compared to Rs 4.95 lakh loss in Q3 FY25. Revenue from operations stood at Rs 1.31 lakh for the quarter, while the company recorded negative other income of Rs 7.79 lakh in the previous quarter.

For the nine months ended December 31, 2025, the company's net loss widened to Rs 35.25 lakh compared to Rs 30.04 lakh in the corresponding period of FY25, with total income declining significantly to Rs 1.70 lakh from Rs 27.54 lakh.

Major Board Decisions and Corporate Actions

The board approved several significant corporate restructuring measures during their meeting on January 29, 2026:

Executive Leadership Changes

Two new executive directors were appointed as additional directors:

Capital Structure Enhancement

The board approved increasing the authorized share capital from Rs 10 crore to Rs 30 crore, with the number of equity shares expanding from 1 crore to 3 crore shares of Rs 10 each. This proposal requires shareholder approval at the upcoming Extraordinary General Meeting.

Preferential Issue of Warrants

A major fundraising initiative was approved involving the issuance of up to 2.25 crore convertible warrants:

The warrants carry conversion rights to equity shares with 25% payment required at subscription and 75% on exercise. Major proposed allottees include Ajay Kumar Gupta (10 lakh warrants), Anuj Gupta and Amit Gupta (20 lakh warrants each), and various other public investors.

Operational Status and Auditor Changes

The company continues to face operational challenges with no manufacturing activities currently underway. During the second quarter, the entire fixed assets and plant machinery of the steel pipes unit were sold, with other income reflecting losses on sale of plant and machinery.

In a significant development, the statutory auditors M/s Jain Mittal Chaudhary & Associates resigned with immediate effect from January 29, 2026, citing their decision to step down from their role.

Upcoming Shareholder Meeting

An Extraordinary General Meeting has been scheduled for February 21, 2026, at 4:00 PM to seek shareholder approval for the authorized capital increase, preferential warrant issue, and director appointments. CS Chandan Jha has been appointed as scrutinizer for the meeting.

The company's paid-up equity share capital remains at Rs 513.88 lakh as of December 31, 2025, with the business operating across two segments: PVC pipes and steel pipes, though both segments reported losses during the quarter.

Ardee Industries Ltd. has achieved a significant milestone with its pure lead brand 'Ardee Lead 9997' receiving approval for listing on the London Metal Exchange (LME). The LME has approved the brand as "good delivery" against its Lead Contract, effective December 23, 2025, marking a major step forward for the IPO-bound company's international expansion.

LME Listing Achievement

The London Metal Exchange approval reflects Ardee Industries' adherence to stringent international standards relating to product quality, consistency, traceability and responsible production practices. The LME serves as the world's leading marketplace for industrial metals, setting global benchmark prices for non-ferrous metals including copper, aluminum, and zinc.

The company's brand 'Ardee' is already listed on the Mumbai-based Multi Commodity Exchange of India Ltd. The entry into the LME will further establish Ardee's credibility and competitiveness in international markets while providing global price benchmarking for its products.

Production Capacity and Product Portfolio

Ardee Industries maintains an annual capacity of 1,04,025 million tonnes per annum of 'Ardee Lead 9997', supplying high-purity lead ingots that meet global delivery specifications. The company's comprehensive product portfolio includes:

• Pure lead
• Lead calcium alloys
• Lead antimony alloys
• Lead tin alloys
• Lead silver alloys
• Lead cadmium alloys

These products find applications in critical industries such as energy storage, e-mobility, automotive and chemicals. The company exports to customers based in Singapore, Hong Kong, South Korea, Switzerland, United Arab Emirates, Japan and United States.

IPO Plans and Financial Structure

New Delhi-based Ardee Industries filed preliminary papers with SEBI in September to launch an Initial Public Offering. The IPO structure comprises specific components designed to support the company's growth and financial optimization.

Out of the fresh issue, ₹220.00 crore will be earmarked for incremental working capital requirements, while ₹22.00 crore will go towards repaying existing debt. The remaining amount will be utilized for general corporate purposes. The IPO proposal is yet to receive SEBI clearance.

Market Impact and Growth Prospects

The LME listing is expected to accelerate sales growth by expanding Ardee Industries' addressable market beyond India, allowing international customers to source its products against globally recognised benchmarks. This development positions the company strategically in the global metals market, enhancing its competitive advantage ahead of the planned public offering.