Kasturi Metal Composite Limited Reports No Deviation in IPO Fund Utilisation for Half Year Ended March 31, 2026

Kasturi Metal Composite Limited has submitted its Statement of Deviation or Variation in utilisation of IPO funds for the half year ended March 31, 2026, to the BSE Limited. The filing, made on May 07, 2026, was prepared pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, read with SEBI Circular No. CIR/CFD/CMD1/162/2019 dated December 24, 2019. The Audit Committee reviewed the statement at its meeting held on April 30, 2026, and confirmed that no deviation or variation in fund utilisation has occurred.

IPO Fund Utilisation Overview

The company raised ₹1761.28 lakhs through its Initial Public Offer, with the date of allotment and listing recorded as February 3, 2026. The filing confirms that funds have been deployed strictly in accordance with the objects outlined in the Prospectus. Key details of the filing are summarised below:

Parameter:	Details
Name of Listed Entity:	Kasturi Metal Composite Limited
Mode of Fund Raising:	Public Issue - Initial Public Offer (IPO)
Date of Raising Funds:	February 3, 2026 (Date of Allotment/Listing)
Amount Raised:	₹1761.28 Lakhs
Report Filed For:	Half year ended March 31, 2026
Monitoring Agency:	Not Applicable
Deviation / Variation in Use of Funds:	No
Audit Committee Comments:	Funds are being utilised as per the objects stated in the Prospectus
Auditor Comments:	None

Object-Wise Fund Allocation and Utilisation

The IPO proceeds were earmarked across two primary objects. The table below presents the original allocation against actual utilisation for each object as of the half year ended March 31, 2026:

Sr. No:	Original Object:	Original Allocation (₹ Lakhs):	Funds Utilised (₹ Lakhs):	Deviation/Variation:
1	Capital Expenditure Purpose	1329.07	741.71	None
2	General Corporate Purpose	432.21	359.41	None

It is noted that the utilisation under General Corporate Purpose includes funds deployed towards issue expenses amounting to ₹174.98 Lakhs. No modified object or modified allocation has been indicated for either category.

Audit Committee Observations

The Audit Committee, upon review, noted that funds raised through the IPO are being utilised in accordance with the objects stated in the Prospectus. No comments were received from the auditors in relation to the fund utilisation. The absence of any deviation or variation confirms that the company's deployment of IPO proceeds remains aligned with its stated objectives as disclosed to investors at the time of the offering.

The statement was signed by Madhu Awasthi, Company Secretary and Compliance Officer (Membership No. A28386), from Amravati, on May 07, 2026.

Kasturi Metal Composite Limited announced its audited financial results for the financial year ended March 31, 2026, following the board meeting held on April 30, 2026. The company reported a standalone net profit of Rs 396.07 lakh for FY26, compared to Rs 165.52 lakh in the previous year. Total standalone income increased to Rs 3,588.98 lakh from Rs 3,278.37 lakh in FY25, with revenue from operations at Rs 3,188.26 lakh.

Financial Performance Overview

The standalone financial results show significant improvement across key parameters. Profit before tax for FY26 stood at Rs 432.66 lakh, up from Rs 181.51 lakh in the previous year. Basic and diluted earnings per share increased to Rs 4.91 from Rs 2.31 in FY25. The company's balance sheet reflects total assets of Rs 4,972.91 lakh as of March 31, 2026, compared to Rs 2,888.54 lakh in the previous year, primarily driven by the Initial Public Offering during the year.

Financial Parameter	FY26 (Rs. In Lakhs)	FY25 (Rs. In Lakhs)
Total Income	3,588.98	3,278.37
Revenue from Operations	3,188.26	3,106.42
Profit Before Tax	432.66	181.51
Net Profit	396.07	165.52
Basic EPS (Rs.)	4.91	2.31

Consolidated Results and Segment Performance

On a consolidated basis, the company reported a net profit of Rs 396.39 lakh for FY26, with total income of Rs 6,530.59 lakh. The group operates through two reportable segments: Steel Wool and Steel Fiber, and Concrete Flooring Services. The Steel Fiber segment generated revenue of Rs 3,188.26 lakh, while Concrete Flooring Services contributed Rs 3,269.15 lakh. Segment results before tax and interest showed Steel Fiber at Rs 165.14 lakh and Concrete Flooring Services at Rs 536.96 lakh for the year.

The consolidated balance sheet shows total assets of Rs 6,019.33 lakh, with shareholder's funds at Rs 3,704.50 lakh. Minority interest stood at Rs (316.79) lakh. Cash and cash equivalents improved to Rs 683.98 lakh from Rs 273.71 lakh in the previous year.

Board Appointments and Auditor Report

The board appointed M/s. D.S Momaya & Co LLP as Secretarial Auditors and M/s. V. S. Jakhotiya & Co as Internal Auditors for FY 2026-2027. NDAA & Associates LLP, Chartered Accountants, issued an unmodified opinion on both standalone and consolidated financial results. The auditors confirmed that the financial statements give a true and fair view of the company's financial position and are in compliance with Regulation 33 of SEBI Listing Regulations.

The trading window closure, which was initiated on March 26, 2026, will continue until 48 hours after the official declaration of the audited financial results. The complete financial statements are available on the company's website at www.steelfiberindia.in .