Tamilnadu Steel Tubes Limited's Board of Directors has accepted the resignation of Wholetime Director Mr. N Sudharsan, effective February 14, 2026. The resignation was approved during the company's 4th Board of Directors' meeting of FY 2025-26, held at the registered office in Chennai.

Resignation Details and Health Concerns

Mr. N Sudharsan (DIN: 08562284) submitted his resignation letter dated February 3, 2026, citing health issues due to age factor as he is 70 years old. In his resignation letter addressed to the Board of Directors, he stated his inability to continue services as Wholetime Director and requested relief at the earliest.

Board Meeting and Approval Process

The 4th Board of Directors' meeting for FY 2025-26 was held on Saturday, February 14, 2026, at 12:30 p.m. at the registered office. The Nomination & Remuneration Committee met the same day and recommended the acceptance of the resignation to the Board for approval. Following detailed discussions, the Board passed a resolution accepting Mr. Sudharsan's resignation.

Regulatory Compliance and Documentation

The Board has authorized the filing of necessary Form DIR-12 with the Registrar of Companies (ROC) and communication to BSE regarding the resignation. Key officials including Wholetime Directors Mr. Ram Ashish Singh and Mr. Krishnan Kamal Shukla, Managing Director Mr. Bivashwa Das, and Company Secretary Mr. K Suresh have been authorized to digitally sign and file the required forms with the Ministry of Corporate Affairs.

Director's Acknowledgment

In his resignation letter, Mr. Sudharsan expressed sincere thanks to all Directors and employees who extended their support during his tenure. His resignation was processed as per his request, with relief granted at the close of office hours on February 14, 2026.

Company Background

Tamilnadu Steel Tubes Limited operates as a manufacturer and exporter of MS & GI, square and rectangle steel pipes. The company is headquartered at 1st Floor, No.22, Wheat Croft Road, Nungambakkam, Chennai - 600 034, with CIN: L27110TN1979PLC007887.

Tamilnadu Steel Tubes Limited announced its unaudited financial results for the quarter ended December 31, 2025, presenting a mixed performance with revenue growth accompanied by quarterly profitability challenges. The Chennai-based manufacturer and exporter of MS & GI square and rectangle steel pipes reported these results following their Board of Directors meeting held on February 14, 2026, which also addressed significant leadership changes.

Quarterly Financial Performance

The company's Q3FY26 results showed contrasting trends in revenue and profitability metrics compared to the previous year.

The revenue growth of 17.70% demonstrates strong demand for the company's steel tube products, with net sales reaching ₹1,896.19 lakhs compared to ₹1,611.15 lakhs in Q3FY25. However, the company reported a net loss of ₹0.33 lakhs against a profit of ₹1.88 lakhs in the corresponding quarter of the previous year.

Cost Structure Analysis

The expense breakdown reveals key operational dynamics during the quarter:

Raw material costs increased by 11.78% to ₹1,677.85 lakhs, reflecting higher input prices in the steel industry. Employee benefits expenses rose significantly by 22.73% to ₹127.39 lakhs, while finance costs decreased by 30.39% to ₹12.21 lakhs, indicating improved debt management.

Nine-Month Performance

The nine-month results for the period ended December 31, 2025, showed more positive trends:

The company achieved robust revenue growth of 23.70% for the nine-month period, with net sales reaching ₹6,618.68 lakhs compared to ₹5,350.75 lakhs in the previous year. Despite lower profitability, the company maintained positive earnings with a net profit of ₹9.45 lakhs.

Leadership Changes and Board Decisions

The Board meeting on February 14, 2026, addressed several significant organizational changes:

The Board also approved strategic initiatives including purchase of electricity from solar power manufacturers to reduce costs and acquisition of new machinery to increase production capacity. Additionally, the company is implementing compliance measures for the Digital Personal Data Protection Act 2023 and recently notified DPDP Rules 2025.

Key Financial Metrics

Earnings per share for Q3FY26 stood at ₹(0.01) compared to ₹0.04 in Q3FY25, while the nine-month EPS was ₹0.18 versus ₹0.29 in the previous year. The company's paid-up equity share capital remained stable at ₹512.48 lakhs with a face value of ₹10.00 per share.

Regulatory Compliance

The financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on February 14, 2026. The results underwent limited review by statutory auditors DPV & Associates, Chartered Accountants, who provided an unqualified review report. The company operates primarily in the single business segment of steel tube manufacturing with sales substantially in the domestic market.