Chase Bright Steel Ltd

AGM details

• AGM held Sept 30, 2026 at 11:00 AM via VC/OAVM
• Remote e-voting Sept 27–29, 2026; postal ballot available
• E-voting during meeting available for attendees not yet voting

Resolutions and voting status

• Adoption of Audited Financial Statements for year ended Mar 31, 2026
• Voting results will be communicated to the stock exchange and posted online
• Appointment of Avinash Jajodia as director to retire by rotation; re-appointment sought
• Regularize appointment of Achal Vijay as Independent Director; regularization sought
• Re-appoint Avinash Jajodia as MD and Chairman; terms as filed

Directors / key managerial appointments

• Avinash Jajodia to be re-appointed as MD and Chairman
• Achal Vijay Regularized as Independent Director

Financial performance

• Revenue from operations ₹237.57 lakh in 2025-26.
• Profit after tax ₹-30.26 lakh; EPS ₹-1.81.
• Going concern: material uncertainty; management evaluating measures to restore profitability.

Operations & business model

• Manufacturing ceased; focus on trading and exporting.
• No own manufacturing facility; uses contract manufacturers.
• Primary revenue from trading goods; export orientation.

Balance sheet & liquidity

• Net worth negative ₹1,451.57 lakh; total assets ₹103.36 lakh.
• Current ratio 0.07x; liabilities exceed assets by ₹1,310 lakh.
• Borrowings ₹703.08 lakh; current ₹563.38 lakh; non-current ₹139.70 lakh.

Cash flows

• Operating cash flow negative ₹112.93 lakh.
• End-year cash and cash equivalents ₹8.86 lakh.
• Net financing cash flow ₹4.42 lakh; liquidity remains tight.

Governance

• MD & Chairman reappointed for 3 years (2026-2029).
• Achal Vijay appointed Independent Director for 5 years.
• Shilpa Dutt resigned Aug 13, 2026; Kanika Vijayvergiya remains.

Regulatory & contingent liabilities

• GST demand ₹245.52 lakh under appeal.
• Income tax and other tax disputes ongoing.
• Creditor suit dismissed during the period.

Related party disclosures

• Rose Investment Private Ltd: unsecured loan ₹139.70 lakh; interest ₹32.59 lakh.
• SKG Steel Tech: trading goods ₹35.73 lakh; commission ₹5.51 lakh.

Financial results approved

• Unaudited quarterly results for quarter ended 30 June 2026 approved; Limited Review Certificate attached.

Governance actions

• Shri Achal Vijay appointed as Additional Independent Director (DIN: 11821713).
• Smt Kanika Vijayavergiya resigns as Independent Director (DIN: 07651318).
• Smt Nidhi Kothari resigns as Company Secretary & Compliance Officer, effective 31 August 2026.

Auditor emphasis on going concern

• Emphasis of matter: significant accumulated losses and going-concern uncertainty; management states going concern basis.

Meeting Details

• Date: 13 August 2026 (Thursday).
• Time: not disclosed.
• Mode/Location: via audio-visual means; no physical location disclosed.

Key Agenda Items

• Consider unaudited financial results for quarter ended 30 June 2026.

Other Notes

• Trading window closed 1 July 2026 to 17 August 2026.
• Applicable to promoters, directors, officers and designated employees.

Dematerialisation status

• Securities received for dematerialisation during the period were mutilated and cancelled after verification.
• The depository's name was substituted as registered owner and records updated.
• The dematerialised securities have been listed on the stock exchanges where the earlier issued securities are listed.

Meeting Details

• Board meeting scheduled for Friday, 29 May 2026.
• Meeting will be held via audio-visual means.

Key Agenda Items

• Consider and take on record audited financial results for year ended 31 March 2026.

Other Notes

• Trading window closed from 1 April 2026 to 20 June 2026.

Financial Performance

• Board approved unaudited standalone financial results for quarter ended December 31, 2025.
• Total revenue for the quarter was INR 104.95 lakhs; net loss after tax was INR 5.67 lakhs.
• No provision for current or deferred income tax made due to losses and uncertainty of future profits.

Financial Position & Going Concern ️

• Company reported accumulated losses exceeding reserves and capital as of December 31, 2025.
• Current liabilities exceed current assets; company lacks manufacturing facility and most staff have left.
• Board noted material uncertainty about the company’s ability to continue as a going concern.
• Auditor emphasized going concern uncertainty due to financial condition but issued unmodified conclusion.

🗓️ Meeting Details

• Board meeting scheduled for 9th February 2026 via audio-visual means.

📊 Financial Performance

• Consideration and recording of unaudited financial results for quarter and nine months ended 31st December 2025.