Shyam Century Ferrous Limited (SCFL) has reported a net loss of ₹328.29 lakh for the second quarter ended September 30, 2023, as the company grapples with the aftermath of ceasing operations at its Meghalaya plant. The loss, while significant, marks an improvement from the ₹636.84 lakh loss reported in the same period last year.

Financial Performance

The company's financial results for Q2 2023 reflect the challenges faced due to the plant closure:

The significant drop in revenue from operations highlights the impact of the plant closure on the company's core business activities.

Operational Challenges

SCFL ceased operations at its plant in Byrnihat, Meghalaya, on May 7, 2023, due to a substantial increase in power tariffs that rendered operations economically unviable. This closure has been a major factor in the company's reduced revenue and continued losses.

Management Response

The Board of Directors, in their meeting held on November 4, 2023, approved the unaudited financial results for Q2 and the half-year ended September 30, 2023. The management is actively evaluating various restructuring and revival measures to restore the viability of the plant. These efforts are crucial for the company's future operations and financial health.

Balance Sheet Highlights

Despite the operational challenges, SCFL maintains a strong balance sheet position:

The company's strong equity position and reduced current liabilities provide some financial stability as it navigates through this challenging period.

Looking Ahead

As SCFL continues to explore restructuring and revival measures, the focus will be on finding sustainable solutions to the power tariff issue and potentially resuming operations at the Meghalaya plant. The company's ability to adapt to the changing economic environment and successfully implement these measures will be crucial for its long-term viability in the ferro silicon manufacturing sector.

Investors and stakeholders will be closely watching the company's progress in its revival efforts and any strategic decisions that may impact its future operations and financial performance.

Shyam Century Ferrous Limited , a prominent player in the ferrous industry, held its 14th Annual General Meeting (AGM) on September 23, 2025, where shareholders approved several significant appointments and reappointments. The meeting, conducted through video conferencing, saw the company making strategic decisions to strengthen its leadership and compliance framework.

Key Appointments and Reappointments

Shareholders at the AGM approved the following key appointments:

1. Non-Executive Director: Mr. Ghanshyam Agarwal (DIN: 08181762) was appointed as a Director in the Non-Executive category of the company.

2. Independent Director Reappointment: Mr. Nirmalya Bhattacharyya (DIN: 09037566) was reappointed as an Independent Director for a second term of five consecutive years, from April 1, 2026, to March 31, 2031.

3. Secretarial Auditors: M/s. MKB & Associates, a Peer Reviewed Firm of Company Secretaries in Practice (Firm Registration No. P2010WB042700), was appointed as the Secretarial Auditors of the company for a five-year term covering financial years 2025-26 through 2029-30.

Other AGM Proceedings

The AGM, chaired by Mr. Aditya Vimalkumar Agrawal, Managing Director of the company, also addressed several other matters:

• Financial Statements: Shareholders approved and adopted the Audited Financial Statements for the fiscal year ended March 31, 2025, along with the Reports of the Board of Directors and Auditors.

• Director Reappointment: Mr. Aditya Vimalkumar Agrawal (DIN: 03330313), who retired by rotation, was reappointed as a Director.

• Cost Auditors: The remuneration payable to M/s. B. G. Chowdhury & Co., Cost Accountants, for the financial year ending March 31, 2026, was confirmed and ratified.

• Related Party Transactions: Shareholders approved material related party transactions with Star Cement Limited, Star Smart Building Solutions Limited, and Star Cement North East Limited for the financial year 2025-26.

E-Voting and Scrutiny

The company provided remote e-voting facilities to its shareholders through National Securities Depository Limited (NSDL). M/s MKB & Associates, Practicing Company Secretary, was appointed as the scrutinizer for overseeing the e-voting process.

The AGM, which commenced at 2:00 PM IST, concluded at 2:45 PM IST. The company assured that the consolidated results of e-voting would be announced within two working days of the AGM's conclusion and would be communicated to the Stock Exchanges and posted on the company's website.

These strategic appointments and decisions reflect Shyam Century Ferrous Limited's commitment to maintaining strong corporate governance and positioning itself for future growth in the ferrous industry.