Latest news about Shah Alloys
Shah Alloys
69.11
-1.33(-1.89%)
Company Performance:
View Company Insights1D-1.89%
1M+0.33%
6M-3.14%
1Y+27.98%
5Y+514.31%
More news about Shah Alloys
14Aug 25
Shah Alloys Appoints New Director, Reports Q1 Loss Amid Plant Closure
Shah Alloys Ltd reported significant developments including board changes, Q1 financial results, and the closure of its iron and steel plant. The company appointed Smt Nipa Jairaj Shah as an Additional Non-Executive Independent Director and approved the continuation of Shri Ashok Sharma as Whole Time Director. For Q1 FY2025-26, revenue dropped to Rs 23.64 crore from Rs 118.55 crore in Q1 FY2024-25, with net loss narrowing to Rs 2.83 crore. The company announced the closure of its Santej, Gujarat plant by August 2025 due to technological obsolescence and high production costs. Auditors expressed concerns about the company's going concern status and noted unprovided interest on bank loans. The 35th AGM is scheduled for September 26, 2025.
22Jul 25
Shah Alloys to Shut Down Entire Iron and Steel Plant in Gujarat, Citing Losses and Obsolescence
Shah Alloys Limited is closing its Iron and Steel Plant in Santej, Gujarat within a month. The plant, accounting for 100% of operations, generated revenue of Rs 26,728.00 lakh but incurred a loss of Rs 2,729.00 lakh. Reasons include lack of competitiveness, technological obsolescence, higher production costs, and consistent losses. The company plans to explore new options post-closure.
22Jul 25
Shah Alloys Limited to Shutter Entire Iron and Steel Plant in Gujarat, Citing Losses and Obsolescence
Shah Alloys Limited has approved the closure of its Iron and Steel Plant in Santej, Gujarat, within one month. The plant, contributing 100% of the company's revenue (Rs 26,728.00 lakh), reported a loss after tax of Rs 2,729.00 lakh. Reasons for closure include lack of competitiveness, technological obsolescence, sustained losses, and cost ineffectiveness. The company plans to explore new alternatives post-shutdown.
22Jul 25
Shah Alloys to Shutter Entire Iron and Steel Plant in Gujarat, Citing Losses and Obsolescence
Shah Alloys Limited has decided to close its Iron and Steel Plant operations in Santej, Gujarat. The plant, which contributed 100% of the company's revenue, will be shut down within a month. The closure comes after persistent financial challenges, with the company reporting a loss after tax of Rs 2,729.00 lakh. Reasons cited include lack of competitiveness, technological obsolescence, unrecoverable production costs, and prolonged losses. The company plans to explore new opportunities post-closure.
22Jul 25
Shah Alloys to Shutter Entire Iron and Steel Plant in Gujarat, Citing Losses and Obsolescence
Shah Alloys Limited has decided to close its entire Iron and Steel Plant operations in Santej, Gujarat. The closure, expected to be completed within a month, will impact 100% of the company's operations. The plant generated revenue of Rs 26,728.00 lakh but incurred a loss after tax of Rs 2,729.00 lakh. Reasons for closure include lack of competitiveness, technological obsolescence, continuous losses, and cost ineffectiveness. The company plans to explore new alternatives for future benefit.
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