Shyam Century Ferrous Limited , a prominent player in the ferrous industry, held its 14th Annual General Meeting (AGM) on September 23, 2025, where shareholders approved several significant appointments and reappointments. The meeting, conducted through video conferencing, saw the company making strategic decisions to strengthen its leadership and compliance framework.

Key Appointments and Reappointments

Shareholders at the AGM approved the following key appointments:

1. Non-Executive Director: Mr. Ghanshyam Agarwal (DIN: 08181762) was appointed as a Director in the Non-Executive category of the company.

2. Independent Director Reappointment: Mr. Nirmalya Bhattacharyya (DIN: 09037566) was reappointed as an Independent Director for a second term of five consecutive years, from April 1, 2026, to March 31, 2031.

3. Secretarial Auditors: M/s. MKB & Associates, a Peer Reviewed Firm of Company Secretaries in Practice (Firm Registration No. P2010WB042700), was appointed as the Secretarial Auditors of the company for a five-year term covering financial years 2025-26 through 2029-30.

Other AGM Proceedings

The AGM, chaired by Mr. Aditya Vimalkumar Agrawal, Managing Director of the company, also addressed several other matters:

• Financial Statements: Shareholders approved and adopted the Audited Financial Statements for the fiscal year ended March 31, 2025, along with the Reports of the Board of Directors and Auditors.

• Director Reappointment: Mr. Aditya Vimalkumar Agrawal (DIN: 03330313), who retired by rotation, was reappointed as a Director.

• Cost Auditors: The remuneration payable to M/s. B. G. Chowdhury & Co., Cost Accountants, for the financial year ending March 31, 2026, was confirmed and ratified.

• Related Party Transactions: Shareholders approved material related party transactions with Star Cement Limited, Star Smart Building Solutions Limited, and Star Cement North East Limited for the financial year 2025-26.

E-Voting and Scrutiny

The company provided remote e-voting facilities to its shareholders through National Securities Depository Limited (NSDL). M/s MKB & Associates, Practicing Company Secretary, was appointed as the scrutinizer for overseeing the e-voting process.

The AGM, which commenced at 2:00 PM IST, concluded at 2:45 PM IST. The company assured that the consolidated results of e-voting would be announced within two working days of the AGM's conclusion and would be communicated to the Stock Exchanges and posted on the company's website.

These strategic appointments and decisions reflect Shyam Century Ferrous Limited's commitment to maintaining strong corporate governance and positioning itself for future growth in the ferrous industry.

Shyam Century Ferrous Limited , a manufacturer of ferro silicon, has reported a net loss of ₹402.80 lakh for the quarter ended June 30, according to the company's recent financial results. This marks a significant increase in losses compared to the ₹270.05 lakh net loss reported in the same quarter of the previous year.

Financial Performance

The company's financial performance for Q1 shows a substantial decline in revenue and profitability:

The revenue from operations saw a sharp decline of 47.32% year-on-year, falling to ₹1,419.46 lakh from ₹2,694.62 lakh in the corresponding quarter of the previous year. Despite the reduction in total expenses by 34.98%, the company's net loss widened by 49.16%.

Operational Update

A significant development impacting the company's operations was announced in the financial results. Shyam Century Ferrous has ceased operations at its plant located in EPIP, Rajabagan, Byrnihat, District-Ri-Bhoi, Meghalaya, effective from May 7. The closure was attributed to a substantial increase in power tariffs, which rendered the plant's operations economically unviable.

The company's management is actively exploring various restructuring and revival measures to restore the viability of the plant. This closure has been communicated to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Other Comprehensive Income

Despite the operational challenges and net loss, the company reported a positive total comprehensive income of ₹675.50 lakh for the quarter. This was primarily due to other comprehensive income of ₹1,078.30 lakh, which mainly consisted of net changes in fair value of investments in equity shares carried at fair value through OCI.

Management Changes

In other corporate developments, the company's Board of Directors, at their meeting held on August 8, made the following appointments:

1. Mr. Ghanshyam Agarwal was appointed as an Additional Director in the Non-Executive category, effective immediately.
2. Mr. Nirmalya Bhattacharyya was re-appointed as an Independent Director for a period of 5 years, effective from April 1, subject to shareholder approval.

These appointments are subject to approval at the upcoming Annual General Meeting.

Looking Ahead

As Shyam Century Ferrous grapples with the challenges posed by increased power tariffs and the subsequent plant closure, the company's focus appears to be on restructuring and reviving its operations. The management's efforts in the coming months will be crucial in determining the company's path to operational and financial recovery.

Investors and stakeholders will be keenly watching the company's next moves, particularly regarding the revival of the Meghalaya plant and any strategic initiatives to improve its financial performance in the face of current challenges.