Gallard Steel Ltd

AGM details

• AGM held via VC/OAVM on 29 Sep 2026 at 2:00 PM IST.
• Cut-off date for member participation: 23 Sep 2026.

Key resolutions

• Adoption of audited standalone and consolidated financial statements for FY 2026.
• Reappointment of Hakimuddin Ghantawala by rotation.
• Appointment of Anil Kamal Garg & Co as Statutory Auditors to fill vacancy.
• Appointment of Praveen Sinha as Non-Executive Independent Director.
• Appointment of Habib Khandwala as Non-Executive Independent Director.
• Remuneration revision for COO Kaid Johar Kalabhai.

Voting results

• Outcome not disclosed in filing; to be announced within 2 working days.

Director changes

• Praveen Sinha and Habib Khandwala appointed as Non-Executive Independent Directors.
• Hakimuddin Ghantawala to continue via reappointment by rotation.

Auditor appointments

• Statutory Auditor appointed: Anil Kamal Garg & Co to fill vacancy due to resignation.
• Secretarial Auditor: Ishan Jain & Co. engaged for 2025-26.

Other material approvals

• Remuneration revision for COO Kaid Johar Kalabhai.

Gallard Steel Ltd: Trading window closed from 1st day of October, 2026 till completion of 48 hours after the declaration of the Half-yearly Standalone and Consolidated Un-audited Financial Results of the Company for the Half year ended 30th September, 2026.

Meeting Details

• Investor Meet scheduled for 30 September 2026 at 10:00 AM has been cancelled.
• Mode/venue not specified; no alternate timing announced yet.
• Company will inform the stock exchange separately about any rescheduled meeting.

Meeting Details

• Date & Time: September 30, 2026, 10:00 am onwards.
• Nature: Group Meeting.
• Organised by: Arihant Capital, Bharat Connect Conference – Rising Stars, September 2026.
• Mode: Virtual.

Participants

• Key company participants include the Company Secretary & Compliance Officer.

Purpose

• Discussions will be based on publicly available information.

Additional Notes

• Recording/presentation will be made available.

Independent Directors and Auditor Appointments

• Shri Praveen Sinha appointed as Non-Executive Independent Director for five years, effective 08 Sept 2026, subject to approval.
• Shri Habib Khandwala appointed as Non-Executive Independent Director for five years, effective 08 Sept 2026, subject to approval.
• Appointed Statutory Auditors M/s Anil Kamal Garg & Co., Chartered Accountants for five years, subject to member approval.

AGM Details

• 11th AGM scheduled for 30 September 2026.
• E-voting facilities available remotely for the meeting.

E-voting specifics

• CDSL is the e-voting platform provider.
• Cut-off date for e-voting entitlement is 23 September 2026.
• Voting starts 27 September 2026 at 9:00 AM.
• Voting ends 29 September 2026 at 5:00 PM.
• Scrutinizer appointed: CS Ishan Jain.

Book closure and AGM details

• Book closure: 24 September 2026 to 30 September 2026 (both days inclusive).
• Purpose: Annual General Meeting.
• AGM date and time: 30 September 2026 at 11:00 AM.
• Security: Equity Shares.
• AGM via VC/OAVM.

AGM details

• Date and time: 30 September 2026 at 11:00 AM; mode: VC/OAVM; venue deemed at registered office.

Ordinary resolutions

• Adopt standalone and consolidated financial statements for year ended March 31, 2026.
• Retiring director Ghantawala to be reappointed by rotation.
• Appoint M/s Anil Kamal Garg & Co as statutory auditors.

Special resolutions

• Appoint Praveen Sinha as Non-Executive Independent Director for five years.
• Appoint Habib Khandwara as Non-Executive Independent Director for five years.
• Approve remuneration for director with Rs 5,00,000 per month from Oct 1, 2026.
• Approve material related party transactions with promoters and directors.

Director changes

• Two new independent directors appointed; retiring director by rotation noted.

Auditors

• Statutory auditor appointment: M/s Anil Kamal Garg & Co as statutory auditors.

Dividend

• Dividend: No dividend proposed or declared.

Related party disclosures

• Related party transactions with promoter group and directors approved; terms and value disclosed.

Financial performance

• Standalone revenue from operations: 5,747.22 L, up from 4,260.71 L.
• Consolidated revenue from operations: 6,804.49 L, up from 5,331.80 L.
• Standalone PAT: 673.99 L; EPS: 8.58.
• Consolidated PAT: 910.48 L; EPS: 11.59.
• Total income: Standalone 5,822.45 L; Consolidated 6,979.92 L.
• IPO proceeds: 3,750 L; listed on BSE SME on 26-Nov-2025.
• Dividend: no dividend declared for FY2025-26.
• Financing cash inflow: 3,040.69 L; ending cash: 2,633.06 L.
• Cash from operations: 367.10 L.

IPO & capital raise

• IPO: 25,00,000 shares at ₹150; share capital ₹250 L; premium ₹3,500 L.
• Listed on BSE SME on 26-Nov-2025.
• IPO utilization: capex ₹2,073.01 L; debt ₹720 L; general corporate ₹466.11 L; issue expenses ₹490.88 L.
• Unutilised IPO funds: ₹2,601.50 L invested in fixed deposits with Yes Bank.

Capital structure & liquidity

• Standalone debt: long-term ₹448.28 L; short-term ₹734.41 L; total ₹1,182.69 L.
• Consolidated debt: total ₹2,115.75 L; equity ₹5,872.82 L; debt-equity 0.36.
• Standalone cash: ₹2,633.06 L; Consolidated cash: ₹2,641.24 L.
• Standalone current ratio: 1.55; Consolidated: 1.17.
• IPO proceeds boosted equity base; share capital now ₹9.50 Cr.
• Net financing inflow (Standalone): ₹3,040.69 L.

Governance & board changes

• Two new independent directors: Praveen Sinha and Habib Khandwala, appointed 8 Sep 2026.
• Appointments to hold 5-year terms; to be confirmed at 11th AGM.
• Remuneration for COO Kaid Johar Kalabhai increased to ₹5 L/month from Oct 1, 2026.
• Statutory Auditor changed to M/s Anil Kamal Garg & Co; 5-year term, subject to AGM approval.
• Board met 14 times in FY2025-26.

Related parties & CSR

• Sleeploop India Pvt Ltd: purchases ₹743.13 L; sales ₹41.32 L; payments ₹1,029.67 L.
• Directors' remuneration to relatives: Kaid Kalabhai ₹24.00 L; Pallavi Parihar ₹1.95 L.
• Outstanding balances with related parties include Zahabiya Kalabhai ₹249.78 L; Zakiuddin ₹50.97 L.
• CSR: upfront obligation ₹7.65 L; spent nil; ₹7.65 L unspent carried to CSR.

Business developments & strategy

• LOI from MPIDC for 3.07 hectares greenfield land at Sector 7, Pithampur for expansion.
• Subsidiaries: Sleeploop India Pvt Ltd (100%); Gallard Europe B.V. for 2025-26.
• Strategy: move from castings to higher-value design, expand rail/defense portfolio.
• R&D: indigenization and development of new railway components; field trials.

Risks, outlook & controls

• Risks: customer concentration, tender cycles, raw materials, energy costs, and project execution.
• Outlook: stronger balance sheet, expanded capex, faster qualification of new railway products.
• Auditors' report: unqualified; internal financial controls adequate; secretarial audit by Ishan Jain & Co.
• CSR reporting: CSR policy in place; annual targets disclosed in Annexure-4.