Inducto Steel has announced a key leadership appointment with Mr. Umesh Govind Rathod joining as Chief Financial Officer (CFO), effective January 15, 2026. The appointment was formally approved by the Board of Directors during their meeting held on January 15, 2026.

Appointment Details

The company has appointed Mr. Rathod as a Key Managerial Personnel (KMP) under Section 203 of the Companies Act, 2013. The appointment complies with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Professional Background

Mr. Umesh Govindbhai Rathod brings substantial experience to his new role as CFO. He is a seasoned finance executive with over 15 years of experience in the finance industry. His professional background includes active involvement in handling accounts and financial departments, with expertise spanning multiple areas of financial management.

Key Areas of Expertise

Mr. Rathod's experience encompasses several critical areas:

• Financial operations management
• Compliance and regulatory reporting
• Internal controls implementation
• Financial planning and analysis
• Accounts management

His extensive knowledge and vast experience in finance and accounts position him to contribute effectively to the company's financial stability and growth initiatives.

Regulatory Compliance

The appointment follows proper regulatory procedures and disclosure requirements. Inducto Steel has informed BSE Limited about the appointment in compliance with SEBI regulations. The company has provided all required information as per SEBI Circular No. SEBI/HO/CFD/CFDPoD1/P/CIR/2023/123 dated July 13, 2023.

The announcement was signed by Diana Palia, Company Secretary and Compliance Officer (Membership No: A40554), ensuring proper corporate governance procedures were followed throughout the appointment process.

Inducto Steel Limited , a company listed on the Bombay Stock Exchange (BSE), has reported a net loss of Rs 74.54 lakhs for the quarter ended September 30, 2025. This marks a significant increase in losses compared to the previous quarter's loss of Rs 24.76 lakhs.

Financial Performance

The company's board of directors approved the unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2025, at a meeting held on November 13, 2025. The board meeting commenced at 5:00 PM and concluded at 5:30 PM.

Auditor Concerns

In a notable development, the company's auditors have highlighted concerns regarding the recoverability of Rs 21.26 crores invested in partnership firms. This flagging of potential risks associated with these investments adds an additional layer of complexity to Inducto Steel's financial situation.

Corporate Governance and Accounting Standards

The financial results were reviewed by the Audit Committee before being approved by the Board of Directors, aligning with standard corporate governance practices and regulatory requirements. Inducto Steel has prepared its financial results in accordance with Indian Accounting Standards (Ind-AS), as prescribed under section 133 of the Companies Act 2013, adhering to the relevant rules of the Companies (Indian Accounting Standards) Rules, 2015, and subsequent amendments.

Operational Segments

The company's operations are primarily categorized into two geographic segments: Mumbai and Bhavnagar. This segmentation is in line with Ind AS 108, which establishes standards for reporting information about operating segments and related geographic area disclosures.

Consolidated Financial Statements

Inducto Steel's consolidated financial statements include the financial results of Calvin Divine Enterprise LLP, an associate of the company. These statements are prepared in accordance with Indian Accounting Standard 110 on Consolidated Financial Statements.

While Inducto Steel faces challenges with its current financial performance and auditor-flagged concerns, it continues to maintain transparency in its financial reporting and adherence to regulatory standards. Investors and stakeholders will likely be watching closely to see how the company addresses these issues in the coming quarters.