Kalyani Steels Limited , a prominent player in the forging and engineering quality carbon and alloy steels sector, has reported a decline in its financial performance for the second quarter of the fiscal year 2025-26. The company's results reflect the challenges faced in the current economic environment.

Revenue and Profit

For the quarter ended September 30, 2025, Kalyani Steels reported:

The company's revenue from operations decreased by 7.32% year-over-year, while net profit saw a 7.43% decline compared to the same quarter in the previous fiscal year.

EBITDA Performance

Kalyani Steels' EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for Q2 FY26 stood at ₹854.00, down from ₹961.00 in Q2 FY25. The EBITDA margin contracted to 18.73% from 19.53% in the corresponding quarter of the previous year.

Operational Highlights

The company's performance was impacted by various factors:

• Raw Material Costs: The cost of raw materials consumed stood at ₹2,377.58 for the quarter.
• Manufacturing Expenses: These expenses, including stores and spares consumed, job work charges, power and fuel, and repairs, amounted to ₹673.30.
• Employee Benefit Expenses: The company reported ₹220.09 in employee-related costs.

Balance Sheet Position

As of September 30, 2025, Kalyani Steels maintained a strong balance sheet:

• Total Assets: ₹28,211.70
• Equity Share Capital: ₹218.64
• Other Equity: ₹19,475.78

Cash Flow and Liquidity

The company's cash and cash equivalents at the end of the quarter stood at ₹62.06, reflecting a decrease from ₹143.00 at the beginning of the period. This change in cash position was primarily due to operating activities, investments, and financing decisions made during the quarter.

Segment Information

Kalyani Steels continues to focus on its core business of manufacturing forging and engineering quality carbon and alloy steels, which remains its single reportable segment under Ind AS 108.

The financial results indicate that Kalyani Steels is navigating through a challenging period. The decline in revenue and profitability suggests potential headwinds in the steel industry or broader economic factors affecting the company's performance. Investors and stakeholders will be watching closely to see how the company adapts to the current market conditions and works to improve its financial metrics in the coming quarters.

Kalyani Steels Limited, a prominent player in the specialty steel industry, held its 52nd Annual General Meeting (AGM) on August 22, 2025, where shareholders approved several significant appointments and remuneration changes. The meeting, conducted through video conferencing, saw the company making strategic decisions to strengthen its leadership and governance structure.

Key Appointments and Re-appointments

The shareholders approved the following appointments and re-appointments:

• Re-appointment of Mr. Amit B. Kalyani as a director liable to retire by rotation. Mr. Kalyani, who serves as Vice-Chairman and Joint Managing Director of Bharat Forge Limited, brings extensive experience in strategic planning, finance, and business diversification to the Kalyani Steels board.

• Re-appointment of Mrs. Sunita B. Kalyani as a director liable to retire by rotation. Her involvement in the company's CSR activities and charitable foundations underscores the company's commitment to social responsibility.

• Re-appointment of Mr. R.K. Goyal as Managing Director for a five-year term, from January 17, 2026, to January 16, 2031. Mr. Goyal, an engineering graduate with over 42 years of experience in the specialty steel industry, has been instrumental in developing the company's business since joining as Managing Director in 2011.

Remuneration Changes and Auditor Appointment

The AGM also approved:

• Revised remuneration terms for Mr. R.K. Goyal, reflecting the company's recognition of his leadership.
• Appointment of M/s SVD & Associates, a reputed firm of Company Secretaries, as Secretarial Auditors for a five-year term, enhancing the company's corporate governance practices.

Financial Performance and Dividend

The meeting agenda included:

• Adoption of audited standalone and consolidated financial statements for the year ended March 31, 2025.
• Approval of a dividend on equity shares for the same financial year, indicating a positive financial performance.

Focus on Sustainability and Green Steel

Mr. Goyal's re-appointment highlights Kalyani Steels' increasing focus on sustainability. Under his guidance, the company has been moving towards net-zero emissions, with initiatives like the launch of India's first green steel brands:

• KALYANI FeRRESTA™ - Ultra-low GHG emission intensity
• KALYANI FeRRESTA PLUS - Net-zero GHG emission intensity

Corporate Governance and Compliance

The company emphasized its commitment to strong corporate governance by confirming that none of the re-appointed directors have been debarred from holding directorship positions by SEBI or any other authority.

Kalyani Steels' 52nd AGM reflects the company's strategic focus on leadership continuity, sustainability, and corporate governance. With these key appointments and initiatives, the company appears well-positioned to navigate the evolving challenges and opportunities in the specialty steel sector.