Prabhu Steel Industries Limited's board of directors held a significant meeting on February 28, 2026, approving multiple corporate resolutions and scheduling an Extra Ordinary General Meeting to seek shareholder approval for key business decisions.

Board Resolutions and Corporate Actions

The board meeting, which commenced at 10:00 A.M. and concluded at 11:00 A.M., addressed several important matters pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The directors considered and approved a special resolution to increase the limits for loans and investments by the company under Section 186 and other applicable provisions of the Companies Act, 2013.

Director Remuneration Revision

Following the recommendation of the Nomination and Remuneration Committee, the board approved a significant revision in the remuneration structure for Mr. Harish Agrawal, Non-Executive Non-Independent Director. The key details of this revision are:

Extra Ordinary General Meeting Schedule

The board has scheduled an Extra Ordinary General Meeting to seek shareholder approval for the proposed resolutions. The meeting logistics have been finalized as follows:

E-Voting Arrangements

To facilitate shareholder participation, the board has established a comprehensive e-voting framework. The cut-off date has been determined to establish voting rights entitlement for members participating in both e-voting and the physical meeting. The e-voting period has been scheduled from Friday, March 20, 2026, to Monday, March 23, 2026, providing shareholders with adequate time to cast their votes electronically.

Meeting Administration

The board has appointed M/S Jaymin Modi & Co as the scrutinizer for the Extra Ordinary General Meeting scheduled for March 24, 2026. The company has also approved the calendar of events for the EOGM, ensuring proper compliance with regulatory requirements and shareholder communication protocols. These decisions reflect the company's commitment to maintaining transparent corporate governance practices while pursuing strategic business expansion through enhanced investment capabilities.

Prabhu Steel Industries Limited , a prominent player in the iron and steel trading segment, has released its financial results for the first quarter, revealing a mixed performance with significant revenue growth but a decline in profitability.

Revenue Surge

The company reported a substantial increase in revenue from operations, which rose to ₹480.61 crore in Q1, up from ₹252.89 crore in the previous quarter. This represents a remarkable 90% quarter-on-quarter growth, indicating a strong uptick in the company's trading activities.

Profit Decline

Despite the impressive revenue growth, Prabhu Steel Industries experienced a decline in its bottom line. The profit after tax (PAT) for Q1 stood at ₹8.80 crore, down from ₹17.35 crore in the previous quarter, marking a 49% decrease.

Financial Highlights

Operational Performance

The company's total income for the quarter increased to ₹487.22 crore from ₹309.96 crore in the previous quarter. However, this growth was accompanied by a significant rise in expenses, particularly in the purchase of trading stock, which jumped to ₹549.34 crore from ₹198.29 crore in the preceding quarter.

Management Approval

The Board of Directors of Prabhu Steel Industries Limited approved these unaudited financial results at their meeting held on August 4. The meeting, which commenced at 2:30 p.m., concluded at 3:35 p.m.

Segment Focus

Prabhu Steel Industries continues to operate solely in the trading of iron and steel segment, as confirmed in the company's regulatory filing.

Earnings Per Share

The company's earnings per share (EPS) for Q1 stood at ₹1.23, compared to ₹2.42 in the previous quarter, reflecting the decrease in profitability.

While Prabhu Steel Industries has demonstrated strong revenue growth, the decline in profitability highlights the challenges faced by the company in managing its increased operational scale. Investors and analysts will be keenly watching how the company balances its growth trajectory with profitability in the coming quarters.