KIC Metaliks Limited , a prominent player in the Indian steel industry, has successfully secured shareholder approval for material related party transactions worth up to Rs 500 crores with Bengal Energy Limited (BEL) for the financial year 2025-26. The postal ballot results announced on December 23, 2025, showed overwhelming support from shareholders.

Voting Results and Shareholder Approval

The postal ballot process concluded with decisive shareholder support for the proposed transactions. The voting results demonstrate strong confidence in the company's strategic direction:

The e-voting process was conducted from November 23, 2025, at 9:00 AM to December 22, 2025, at 5:00 PM, with results announced on December 23, 2025.

Corporate Restructuring Background

The need for this approval stems from a recent corporate restructuring approved by the National Company Law Tribunal (NCLT), Kolkata Bench. As per the order dated August 1, 2025, Thermic Steel Company Private Limited has become the holding company of both Karni Syntex Private Limited (Karni) and Bengal Energy Limited. Karni, in turn, is the holding company of KIC Metaliks, owning a 64.81% stake.

Nature of Approved Transactions

The approved transactions between KIC Metaliks and Bengal Energy Limited include:

Strategic Benefits and Justification

KIC Metaliks has justified these transactions citing several operational benefits:

• Seamless supply chain integration
• Cost optimization due to geographical proximity
• Improved logistics and procurement efficiencies
• Enhanced market competitiveness
• Maintenance of stable production and supply chain processes

Corporate Governance Compliance

The company maintained strict adherence to regulatory requirements throughout the process. The Audit Committee of KIC Metaliks reviewed and approved the proposed transactions on November 14, 2025, subject to shareholder approval. The transactions will be conducted at arm's length and in the ordinary course of business, ensuring compliance with SEBI regulations for material related party transactions.

With the overwhelming shareholder approval secured, KIC Metaliks is now positioned to implement these strategic transactions that are expected to strengthen operational efficiencies and enhance the company's competitive position in the steel industry for FY 2025-26.

KIC Metaliks Limited , a key player in the Indian metals sector, has announced its unaudited financial results for the quarter and half-year ended September 30, 2025, revealing a mixed performance and initiating a significant corporate action.

Financial Performance

The company reported a turnaround in its quarterly performance:

All figures in ₹ lakhs

KIC Metaliks has shown improvement in its quarterly performance, posting a profit of ₹8.08 lakhs for Q2 FY2026. This marks a significant turnaround from the loss of ₹35.49 lakhs reported in the previous quarter. However, the half-year results indicate ongoing challenges, with a cumulative loss of ₹107.38 lakhs for H1 FY2026.

Corporate Actions

In a notable development, the Board of Directors has approved a postal ballot notice seeking shareholder approval for material related party transactions with Bengal Energy Limited. This move underscores the company's commitment to transparency and compliance with regulatory requirements.

Board Meeting Details

The company's Board of Directors convened on November 14, 2025, to discuss and approve these matters. Key points from the meeting include:

1. Approval of unaudited financial results for Q2 and H1 FY2026
2. Review of the Limited Review Report by M/s. Agarwal Maheswari & Co., the company's statutory auditors
3. Approval of the postal ballot notice for related party transactions

The board meeting, which commenced at 4:45 PM, concluded at 6:10 PM.

Investor Implications

While the quarterly profit is a positive sign, investors may want to closely monitor the company's performance in the coming quarters to assess if this improvement is sustainable. The half-yearly loss suggests that challenges persist, and the company may need to implement strategic measures to achieve consistent profitability.

The proposed related party transactions with Bengal Energy Limited warrant attention from shareholders. Investors should carefully review the details of these transactions once the postal ballot notice is made available, as they could have significant implications for the company's operations and financial position.

KIC Metaliks Limited continues to navigate a complex business environment, balancing financial recovery efforts with strategic corporate actions. As the company moves forward, stakeholders will be keenly watching for signs of sustained improvement and the outcome of the upcoming shareholder vote on related party transactions.