Modern Steels Limited Reports Quarterly Loss Amid Reduced Income

Modern Steels Limited , a company previously engaged in steel manufacturing, has announced its unaudited financial results for the quarter and half-year ended September 30, 2025. The company, which no longer has manufacturing operations, reported a shift from profit to loss in the latest quarter.

Financial Performance

Particulars (in Rs. lacs)	Q2 FY2026	Q1 FY2026	Q2 FY2025	H1 FY2026	H1 FY2025
Other Income	31.00	47.00	22.00	78.00	44.00
Total Expenses	23.00	24.00	26.00	47.00	51.00
Net Profit/(Loss)	(7.00)	8.00	(4.00)	31.00	(7.00)

The company reported a net loss of Rs. 7.00 lacs for the quarter ended September 30, 2025, compared to a profit of Rs. 8.00 lacs in the previous quarter. This decline in performance is primarily attributed to a decrease in other income, which fell from Rs. 47.00 lacs in the previous quarter to Rs. 31.00 lacs in the current quarter.

Half-Year Performance

For the half-year ended September 30, 2025, Modern Steels Limited showed improvement, recording a profit of Rs. 31.00 lacs compared to a loss of Rs. 7.00 lacs in the same period last year. This positive shift in half-yearly results comes despite the loss in the most recent quarter.

Current Operations

Modern Steels Limited no longer has manufacturing operations, having previously sold its assets located at Mandi Gobindgarh, Punjab. The company is currently engaged in certain activities and receives commission income from these endeavors. The financial statements have been prepared on a going concern basis, considering management's future plans to start commercial activity.

Board Approval and Audit Review

The financial results were approved by the Board of Directors in their meeting held on November 10, 2025, at Chandigarh. The Audit Committee reviewed these results, and the statutory auditors have issued an unmodified report on the financial results for the quarter ended September 30, 2025.

Financial Position

As of September 30, 2025, Modern Steels Limited reported:

Total Assets: Rs. 1,932.00 lacs
Shareholders' Funds: Rs. 1,814.00 lacs
Cash and Cash Equivalents: Rs. 13.00 lacs

The company's financial position remains stable, with a slight increase in shareholders' funds from Rs. 1,783.00 lacs as of March 31, 2025, to Rs. 1,814.00 lacs as of September 30, 2025.

Modern Steels Limited continues to adapt to its current operational model, focusing on commission-based income while exploring future commercial activities. Investors and stakeholders will be keenly watching the company's performance in the coming quarters to assess its ability to sustain profitability and potentially return to growth.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.63%	-1.29%	-8.47%	+0.63%	-18.44%	+264.25%

Modern Steels Limited (MSL) has reported a turnaround in its financial performance for the first quarter and announced the appointment of a new Company Secretary.

Financial Performance

The company's unaudited financial results for Q1 show:

Particulars (Rs. in Lakh)	Q1 FY2025-26	Q1 FY2024-25
Total Income	47.00	22.00
Total Expenses	24.00	25.00
Net Profit/(Loss)	23.00	(3.00)

Modern Steels Limited reported a total income of Rs. 47.00 lakh for the quarter, more than doubling from Rs. 22.00 lakh in the same period last year. The company managed to reduce its expenses slightly to Rs. 24.00 lakh, down from Rs. 25.00 lakh in Q1 FY2024-25.

As a result, MSL posted a net profit of Rs. 23.00 lakh, marking a significant improvement from the loss of Rs. 3.00 lakh incurred in the corresponding quarter of the previous fiscal year.

Operational Status

Modern Steels Limited currently does not have any manufacturing operations. The company had previously sold its assets located in Mandi Gobindgarh, Punjab, under a slump sale arrangement. Despite this, the management has prepared the financial statements on a going concern basis, considering future plans to start commercial activities.

The company's income is primarily generated from commission-based activities, as it has engaged in certain business operations to maintain revenue streams.

New Appointment

The Board of Directors approved the appointment of CS Ananya Modi as the new Company Secretary and Compliance Officer. The appointment, effective from August 1, 2025, was based on the recommendation of the Nomination and Remuneration Committee.

CS Ananya Modi is a qualified Company Secretary and an Associate member of the Institute of Company Secretaries of India (ICSI). She brings experience in Corporate Laws, SEBI Listing Compliances, and Corporate Governance matters. Prior to joining Modern Steels, Modi worked for a year in the Secretarial Department of Quadrant Future Tek Ltd as an Assistant Company Secretary.

Management Commentary

Krishan Kumar Goyal, Managing Director of Modern Steels Limited, stated, "We are pleased with the company's performance this quarter, achieving profitability despite the challenges. Our focus on commission-based activities has yielded positive results. Looking ahead, we are actively exploring opportunities to restart commercial operations and drive sustainable growth."

The company's Board meeting, held on August 11, 2025, commenced at 3:30 p.m. and concluded at 4:00 p.m. The financial results were reviewed by the Audit Committee and subsequently approved by the Board of Directors.

Modern Steels Limited continues to adapt its business model in the absence of manufacturing operations, while maintaining transparency with its stakeholders through regular disclosures and appointments of key personnel.