Maithan Alloys Limited , a leading ferro alloys manufacturer, has announced two significant developments that signal the company's strategic expansion and operational changes.

NBFC Subsidiary Formation

The Board of Directors of Maithan Alloys has authorized the incorporation of a new subsidiary to venture into Non-Banking Financial activities. This move marks a diversification of the company's business interests beyond its core ferro alloys operations, potentially opening up new revenue streams in the financial sector.

New Leadership at Visakhapatnam Unit

In a key personnel change, the company has appointed Mr. Sreejith Ariyanthari Thazhemadam as the Senior Management Officer and Plant Head of its Visakhapatnam Unit. Mr. Thazhemadam will be taking over from Mr. B. Venugopal Rao, indicating a transition in the unit's leadership.

Profile of the New Plant Head

Mr. Sreejith Ariyanthari Thazhemadam brings a wealth of experience to his new role:

• Educational Background: B.E. in Metallurgy Engineering
• Industry Experience: Over 20 years in the ferro alloys manufacturing sector
• Additional Qualifications:
  • Diploma in Electronics Engineering
  • Pre-Degree in Science
  • Proficiency in SAP, ERP, MS Office, and other computer programs

His extensive background in ferro alloys manufacturing, coupled with his technical expertise, positions him well to lead the Visakhapatnam Unit's operations.

Appointment Details

• Effective Date: November 13, 2025
• Term: Until retirement, resignation, or termination of employment

This strategic appointment aligns with Maithan Alloys' focus on strengthening its operational leadership, particularly in its Visakhapatnam facility.

Company Overview

Maithan Alloys Limited, with its registered office in Kolkata, is a key player in the ferro alloys industry. The company operates multiple units across India:

1. Unit-I: Kalyaneshwari, Paschim Bardhaman, West Bengal
2. Unit-II: E.P.I.P, Byrnihat, Ri-bhoi, Meghalaya
3. Unit-III: APSEZ, Atchutapuram, Visakhapatnam, Andhra Pradesh

These strategic moves by Maithan Alloys – entering the NBFC sector and strengthening its plant leadership – reflect the company's efforts to diversify its business portfolio and enhance its operational efficiency in the ferro alloys segment.

Maithan Alloys Ltd, a leading ferro alloy producer, has reported a narrowed net loss for the second quarter, despite an increase in revenue. The company's financial performance shows mixed results, with improvements in some areas and challenges in others.

Financial Highlights

Maithan Alloys reported a revenue of ₹5.00 billion in Q2 FY2026, up from ₹4.70 billion in the same quarter last year, representing a 6.38% year-over-year increase. Despite the revenue growth, the company continued to face challenges, as evidenced by its financial results.

The net loss for the quarter stood at ₹1.12 billion, an improvement from the ₹1.50 billion loss reported in Q2 FY2025. This represents a 25.33% reduction in net loss year-over-year, indicating some progress in the company's efforts to mitigate losses.

Profitability Concerns

While the top-line growth and narrowed losses are positive indicators, Maithan Alloys experienced a significant decline in its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). The EBITDA for Q2 FY2026 was ₹160 million, a sharp decrease from ₹540 million in the corresponding quarter of the previous year, marking a 70.37% decline.

The EBITDA margin also saw a substantial compression, falling to 3.19% from 11.49% year-over-year. This 830 basis points reduction in EBITDA margin suggests that the company faced considerable pressure on its operational efficiency and profitability during the quarter.

Operational Updates

In a recent development, Maithan Alloys has appointed Mr. Sreejith Ariyanthari Thazherradam as the Plant Head of its Vishakhapatnam Unit, effective November 13, 2025. Mr. Thazherradam, who will serve as a Senior Management Officer, brings over 20 years of experience in the Ferro Alloys manufacturing sector.

Looking Ahead

While Maithan Alloys has shown some improvement in narrowing its losses, the significant decline in EBITDA and margin compression indicate ongoing challenges. The company may need to focus on cost management and operational efficiency to improve its profitability in the coming quarters.