SRU Steels Limited Announces Major Leadership Changes and Q2 Results
SRU Steels Limited has appointed Mr. Akhil Arora as new Executive Managing Director and CFO, while accepting resignations of Mr. Vijay Sureshbhai Makvana and Mr. Dharmik Atulbhai Rojasara. Board committees have been reconstituted. Q2 financial results show a net profit before tax of ₹91.18 crore, compared to a previous year loss. Auditor's review highlighted concerns about unsecured loans, interest recognition, and outstanding balance confirmations. Shareholder approval for new appointments to be sought through e-voting.
*this image is generated using AI for illustrative purposes only.
SRU Steels Limited has announced significant changes to its leadership structure along with the approval of its second quarter financial results for the period ended September 30, 2025. The company's Board of Directors made these decisions in a meeting held on November 13, 2025.
Leadership Overhaul
The Board has approved the appointment of Mr. Akhil Arora (DIN: 11329665) as the new Executive Managing Director and Chief Financial Officer of the company, subject to shareholder approval. Mr. Arora brings 15 years of experience in the field of marketing to his new roles.
Simultaneously, the company accepted the resignations of:
- Mr. Vijay Sureshbhai Makvana (DIN: 11021700) from his positions as Managing Director and Chief Financial Officer
- Mr. Dharmik Atulbhai Rojasara (DIN: 10846907) from his role as Non-Executive Independent Director
All these changes are effective from November 13, 2025.
Board Committee Reconstitution
Following these changes, SRU Steels has reconstituted its key board committees:
| Committee | Chairperson | Members |
|---|---|---|
| Audit Committee | Mr. Naveen Sharma | Mr. Anand Singh, Mrs. Meenu Jain |
| Nomination and Remuneration Committee | Mr. Naveen Sharma | Mr. Anand Singh, Mrs. Meenu Jain |
| Stakeholders Relationship Committee | Mr. Naveen Sharma | Mr. Anand Singh, Mrs. Meenu Jain |
Financial Results and Auditor's Review
The Board has approved the unaudited financial results for the second quarter and half-year ended September 30, 2025. These results were subject to a limited review by the company's statutory auditors.
Key financial highlights for the half-year ended September 30, 2025 include:
- Net Profit before Tax: ₹91.18 crore (compared to a loss of ₹169.45 crore in the previous year)
- Depreciation: ₹3.72 crore
- Provision for tax: ₹27.96 crore
The company's cash flow statement reveals significant changes in working capital:
- Decrease in Inventory: ₹685.53 crore
- Increase in Trade Receivables: ₹1,246.67 crore
- Increase in Trade Payables: ₹1,323.77 crore
Auditor's Observations
The independent auditor's review report highlighted several points of emphasis:
- The company has availed unsecured loans from various entities and individuals but has not provided for interest on these loans.
- SRU Steels has granted loans and advances to various entities and individuals but has not recognized interest income on these.
- Outstanding balances related to trade receivables, trade payables, loans, and advances are subject to confirmations and reconciliations.
Upcoming Shareholder Approval
The company plans to conduct a postal ballot by means of e-voting to obtain shareholder approval for the new appointments and other matters. The cut-off date for determining eligibility to vote has been set as November 14, 2025.
Investors and stakeholders should note that these changes may impact the company's future direction and operations. As always, it is advisable to consider all available information and consult with financial advisors before making investment decisions.
Historical Stock Returns for SRU Steels
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.93% | -1.83% | +16.81% | +27.38% | -25.80% | -53.07% |
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