Steelco Gujarat Reports Q3 FY26 Results and Appoints Two New Directors
Steelco Gujarat Limited announced its Q3 FY26 financial results showing revenue from operations of ₹552.68 lakhs compared to ₹164.75 lakhs in the previous year. The company also made significant board changes by appointing two new directors - Mr. Subir Kumar Chowdhury as Independent Director for 3 years and Mr. Deepak Sharma as Executive Director for 2 years, both effective from February 14, 2026.
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Steelco Gujarat Limited has released its unaudited standalone financial results for the third quarter and nine months ended December 31, 2025. The Board of Directors approved these results at their meeting held on February 14, 2026, following recommendations from the Audit Committee. The board meeting commenced at 03:57 p.m. and concluded at 04:47 p.m.
Financial Performance Overview
The company's financial performance for the reporting period shows significant changes in revenue and operational metrics compared to the previous year.
| Financial Metric | Q3 FY26 | Q3 FY25 | Nine Months FY26 | Nine Months FY25 |
|---|---|---|---|---|
| Revenue from Operations (₹ lakhs) | 552.68 | 164.75 | 2,488.44 | 214.48 |
| Other Income (₹ lakhs) | 58.90 | 100.82 | 251.17 | 272.01 |
| Total Income (₹ lakhs) | 611.58 | 265.57 | 2,739.61 | 486.49 |
| Loss for the Period (₹ lakhs) | (870.41) | (638.02) | (2,121.64) | (1,283.22) |
Board Appointments
The Board of Directors approved two key appointments during the meeting. Mr. Subir Kumar Chowdhury (DIN: 03633998) has been appointed as Additional as well as Independent Director for a first term of 3 years, effective February 14, 2026. Additionally, Mr. Deepak Sharma (DIN: 11484653) has been appointed as Additional as well as Executive Director for a term of 2 years, also effective February 14, 2026. Both appointments are subject to shareholder approval.
| Director Details | Subir Kumar Chowdhury | Deepak Sharma |
|---|---|---|
| Position | Independent Director | Executive Director |
| Term | 3 years | 2 years |
| Effective Date | February 14, 2026 | February 14, 2026 |
| Relationship Status | Not related to any Director | Not related to any Director |
Earnings Per Share Analysis
The company's earnings per share metrics reflect the operational challenges during the reporting period.
| EPS Metric | Q3 FY26 | Q3 FY25 | Nine Months FY26 | Nine Months FY25 |
|---|---|---|---|---|
| Basic EPS (₹) | (7.52) | (12.85) | (42.72) | (25.84) |
| Diluted EPS (₹) | (7.52) | (12.85) | (42.72) | (25.84) |
The paid-up equity share capital remained constant at ₹496.60 lakhs with a face value of ₹10 per share across all reporting periods.
Debenture Issuance
During Q3 FY26, Steelco Gujarat issued secured, redeemable, non-convertible debentures on a private placement basis. The company issued up to 16,000 NCDs with a face value of ₹1,00,000 each, aggregating to ₹160 crore, of which ₹140 crore represents the partly paid-up issue size. The NCDs carry an Investor IRR of 21.90% per annum, comprising variable interest and redemption premium. These debentures are proposed to be listed on the Wholesale Debt Market segment of BSE Limited.
Regulatory Compliance and Audit
The financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013. The unaudited financial results were subjected to limited review by the company's statutory auditors, M/s. M Sahu & Co, Chartered Accountants. The company continues to assess the financial impact of New Labour Codes on its employee benefit obligations in accordance with Ind AS 19.
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