Shah metacorp Limited announced its unaudited consolidated and standalone financial results for the quarter and nine months ended December 31, 2025. The Board of Directors approved these results at their meeting held on February 12, 2026, following review by the Audit Committee.

Consolidated Financial Performance

The company's consolidated operations showed mixed results for the quarter ended December 31, 2025. Revenue from operations declined to ₹5,003.97 lakhs compared to ₹6,677.25 lakhs in the previous quarter and ₹3,985.86 lakhs in the corresponding quarter of the previous year.

For the nine-month period ended December 31, 2025, consolidated revenue from operations reached ₹14,571.17 lakhs compared to ₹13,468.22 lakhs in the corresponding period of the previous year, representing an increase of 8.19%. Net profit for the nine-month period stood at ₹400.33 lakhs.

Standalone Performance

On a standalone basis, Shah Metacorp reported revenue from operations of ₹4,580.87 lakhs for Q3FY26, compared to ₹3,589.33 lakhs in the corresponding quarter of the previous year. Net profit for the quarter was ₹57.45 lakhs versus ₹274.11 lakhs in Q3FY25.

Corporate Developments

Several significant corporate actions were highlighted in the results:

Capital Structure Changes:

• The company increased its authorized share capital from ₹110 crores to ₹130 crores during the current quarter
• Paid-up equity share capital stands at ₹8,852.11 lakhs with face value of ₹1 per share

Rights Issue Initiative:

• Shah Metacorp has initiated the process for a rights issue aggregating up to ₹50.00 crore, approved by the Board of Directors on December 29, 2025
• The Draft Letter of Offer has been filed with BSE Limited and National Stock Exchange of India Limited

Acquisitions and Investments:

• The company acquired 85.60% stake in General Capital and Holding Company Private Limited and 80.00% stake in Metacorp Trading LLC through share swap arrangements
• Board approved investment of up to USD 1 lakh in Shah Metacorp Holding USA INC through equity share subscription

Key Concerns and Provisions

The auditor's review report highlighted trade receivables amounting to ₹88.82 crores that have remained long outstanding and unrecovered as of December 31, 2025. The company has recognized a provision for doubtful debts of ₹68.81 crores against this balance. Management expects recovery in subsequent quarters, with unrecovered portions to be written off by March 31, 2026 if necessary.

Business Operations

Shah Metacorp's principal business involves manufacturing and sale of stainless steel products. The consolidated results include financial performance of subsidiary companies Shah Agrocorp Private Limited, General Capital and Holding Company Private Limited, Metacorp Trading LLC, and Western Urja Private Limited, along with associate company Goldman Hotels & Resorts Private Limited.

Shah Metacorp Limited has announced significant corporate developments following its board meeting held on December 29, 2025. The company, formerly known as Gyscoal Alloys Limited, approved multiple strategic initiatives aimed at strengthening its financial position and expanding its international presence.

Rights Issue Approval

The board approved the issuance of fully paid-up equity shares with a face value of ₹1.00 each through a rights issue worth up to ₹50.00 crores. The rights issue will be offered to eligible equity shareholders as on the record date, which will be determined and notified subsequently.

The specific terms including issue price, rights entitlement ratio, record date, and timing will be determined by the Rights Issue Committee and disclosed to stock exchanges in due course.

Rights Issue Committee Reconstitution

The board reconstituted the Rights Issue Committee effective December 29, 2025, with the following composition:

US Subsidiary Investment

The company approved investment of funds up to USD 100,000.00 in Shah Metacorp Holdings USA INC by subscribing to share capital up to 50% during FY2025-26 and FY2026-27. The US company was registered with Delaware Secretary on March 31, 2025, and has not yet commenced business operations.

The investment aims to enhance Shah Metacorp's product portfolio and value-added services through diversification of offerings. No prior approval from Reserve Bank of India is required as per Foreign Exchange Management (Overseas Investment) Directions, 2022.

Loan Agreement Modification

The board approved modification of the original loan agreement with promoter Mona Viral Shah. The modification adds a clause for converting the loan into equity shares under the proposed rights issue, subject to shareholder approval through postal ballot.

The conversion provision allows the borrower to convert the outstanding loan amount along with interest into fully paid-up equity shares, subject to compliance with Section 62 of the Companies Act, 2013, and SEBI guidelines.

Related Party Transactions and Approvals

The board approved several related party transactions, including the conversion of Mona Shah's loan into equity shares and the investment in the US subsidiary. The company also appointed intermediaries for the proposed rights issue and fixed the date and time for postal ballot proceedings.

The board meeting commenced at 8:30 PM and concluded at 9:30 PM on December 29, 2025. These strategic initiatives reflect the company's focus on capital restructuring and international expansion to support future growth objectives.