Scan Steels Limited has informed BSE Limited that the Escrow Payment Mechanism requirements under SEBI regulations are not applicable to the company. The clarification was submitted on January 08, 2026, in response to BSE's inquiry regarding escrow mechanism details.

Regulatory Clarification Details

The company's response addressed BSE's email dated January 01, 2026, which requested submission of details relating to the Escrow Payment Mechanism. Scan Steels Limited clarified that the requirement does not apply to the listed entity as it has not issued any instruments or arrangements that fall under the purview of the escrow mechanism provisions.

Company's Position

In its communication to BSE's Chief General Manager of Listing Operations, Scan Steels Limited emphasized that no disclosure or submission is required regarding the Escrow Payment Mechanism. The company stated that it does not have any instruments or arrangements for which the said mechanism would be applicable under the relevant SEBI regulations.

Corporate Communication

The clarification was signed by Prabir Kumar Das, Company Secretary and Compliance Officer (Membership No: F63333), on behalf of Scan Steels Limited. The company requested BSE to take the clarification on record, confirming its compliance status regarding the escrow payment requirements.

This regulatory clarification demonstrates the company's proactive approach to addressing exchange inquiries and maintaining transparency regarding its compliance obligations under SEBI regulations.

Scan steels Ltd announced its Q3FY26 financial results on February 05, 2026, reporting strong operational performance alongside a major strategic acquisition. The board meeting, held at the company's Bhubaneswar office, approved both standalone and consolidated financial results for the third quarter and nine months ended December 31, 2025.

Q3FY26 Financial Performance

The company delivered robust financial results for the third quarter, demonstrating strong operational efficiency across key metrics.

Nine Months Performance Overview

For the nine-month period ended December 31, 2025, Scan Steels maintained consistent growth momentum with improved profitability metrics.

Strategic Acquisition of Bindals Sponge Industries

Scan Steels announced a significant acquisition through the NCLT resolution process, partnering with Kalinga Allied Industries India Private Limited to acquire Bindals Sponge Industries Limited.

Corporate Governance and Compliance

The board meeting, conducted from 4:00 PM to 5:30 PM, addressed multiple regulatory requirements under SEBI Listing Regulations. Company Secretary Prabir Kumar Das ensured proper compliance with all disclosure norms. The financial results received limited review certification from statutory auditors DAS PATTNAIK & CO, confirming adherence to Indian Accounting Standards.

The acquisition aligns with Scan Steels' expansion strategy in the steel manufacturing sector, providing access to additional production facilities and strengthening market position through the NCLT-approved resolution plan.

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