Ashoka Metcast Limited has announced the appointment of Mr. Kunjan Nathbhai Rathod as Additional Independent Director, effective December 13, 2025. The appointment was formalized during a board meeting held on the same date, demonstrating the company's commitment to strengthening its governance structure.

Director Appointment Details

The board meeting, which commenced at 2:00 PM and concluded at 12:35 PM on December 13, 2025, approved the appointment under Regulation 30 of SEBI (LODR) Regulations, 2015. The following table summarizes the key appointment details:

Professional Background and Experience

Mr. Kunjan Nathbhai Rathod brings valuable expertise to Ashoka Metcast Limited's board. His professional credentials include:

• Over five years of extensive experience in managing transport and logistics business
• Strong management and leadership capabilities
• Proven track record in driving business growth
• Expertise in enhancing operational efficiency
• Strategic insight valuable for supporting company business decisions

Regulatory Compliance

The company has confirmed full compliance with regulatory requirements for the appointment. As per SEBI Circular No. LIST/COMP/14/2018-19 dated June 20, 2018, Ashoka Metcast Limited has affirmed that Mr. Rathod has not been debarred from holding the office of Director by SEBI or any other authorities.

The disclosure has been made pursuant to Regulation 30 read with Schedule III (Part A(7)) of SEBI (LODR) Regulations, 2015, and SEBI Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company has also disclosed that there are no relationships between the newly appointed director and existing directors.

Corporate Governance Enhancement

This appointment reflects Ashoka Metcast Limited's ongoing efforts to strengthen its board composition with experienced professionals. The addition of Mr. Rathod as an Independent Director is expected to contribute to the company's strategic decision-making processes, particularly given his background in transport and logistics management.

The appointment is subject to regularization by shareholders and will be effective for a five-year term from the date of appointment. This strategic addition to the board demonstrates the company's focus on bringing diverse expertise and independent oversight to its governance framework.

Ashoka Metcast Limited , a player in the steel trading sector, has announced its financial results for the second quarter ended September 30, 2025, revealing a mixed performance with a decline in revenue but an increase in profitability.

Revenue Performance

The company reported a consolidated revenue from operations of Rs 521.19 lakhs for Q2 FY2026, marking a significant decrease from Rs 1,433.42 lakhs in the corresponding quarter of the previous year. This represents a year-on-year decline of approximately 63.6% in top-line performance.

Profitability Metrics

Despite the revenue contraction, Ashoka Metcast demonstrated improved profitability:

• Consolidated profit after tax stood at Rs 296.08 lakhs, compared to Rs 348.49 lakhs in Q2 FY2025.
• The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) showed resilience, with finance costs at Rs 37.67 lakhs and depreciation at Rs 14.87 lakhs for the quarter.

Segment Performance

The company operates primarily in steel trading, which contributed the entirety of its revenue for the quarter. The segment results show:

Balance Sheet Highlights

As of September 30, 2025, Ashoka Metcast's balance sheet reflects:

• Total assets of Rs 15,908.14 lakhs, up from Rs 14,285.81 lakhs at the end of the previous fiscal year
• Shareholders' funds increased to Rs 11,908.51 lakhs from Rs 11,863.11 lakhs
• Current assets stood at Rs 9,913.17 lakhs, including inventories of Rs 3,988.77 lakhs

Cash Flow and Liquidity

The company's cash flow statement indicates:

• Net cash used in operating activities: Rs 583.92 lakhs
• Net cash generated from investing activities: Rs 405.30 lakhs
• Net cash generated from financing activities: Rs 182.50 lakhs

This resulted in a slight increase in cash and cash equivalents, which stood at Rs 83.80 lakhs at the end of the period.

Management Commentary

The financial statements were reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on November 11, 2025.

Outlook

While Ashoka Metcast has faced challenges in revenue generation, the company's ability to maintain profitability in a difficult market environment may be seen as a positive sign. The increase in other income and effective cost management appear to have played crucial roles in supporting the bottom line.

Note: All figures are based on the consolidated financial results provided by the company.