Karbonsteel Engineering Ltd

Karbonsteel Engineering Limited: Trading window closed from October 1, 2026 until 48 hours after the date of declaration of unaudited financial results for the half year ended September 30, 2026.

AGM details

• Date/time/mode: 23 Sep 2026, 03:00 PM IST, VC/OAVM; deemed venue at registered office.
• Meeting concluded at 03:30 PM after a 15-minute voting window.
• Remote e-voting ran Sep 20–22, 2026 (9:00 AM–5:00 PM).
• Auditor’s report had no qualifications or adverse remarks.
• Board to strengthen internal compliance framework to ensure timely filings.

Key resolutions

• Ordinary: Adopt Audited Standalone Financial Statements for FY 2025-26 with Auditor’s and Board Reports.
• Ordinary: Re-appoint Shrenik Kirit Shah as Managing Director, retiring by rotation.
• Special: Ratify remuneration payable to Cost Auditor for FY 2026-27.
• Special: Create security on present and future assets in favor of lenders.
• Special: Increase borrowing limits to Rs 400 crores under Section 180(1)(c).

Voting status

• Quorum was present throughout the meeting.
• Final voting results to be disclosed to BSE and the company website within 2 working days.

Auditors / Remuneration

• Cost Auditor remuneration for FY 2026-27 ratified.

Meeting Details

• Date and time: Wednesday, September 30, 2026 at 3:00 P.M.
• Type and mode: Group meeting, virtual.
• Organised by: Arihant Capital - Bharat Connect Conference: Rising Stars - September 2026.

Participants

• Company management to attend.

Purpose

• Investor conference discussions based on publicly available information.

Meeting Details

• Date and time: Friday, September 25, 2026, at 4:30 PM.
• Type and mode: Group meeting, virtual.
• Organiser: Pin Pointx Capital.
• Key participants: Company management.
• Purpose: Discuss publicly available information; no UPSI intended.

Price movement clarification

• States all disclosures have been made to BSE under SEBI LODR; no material undisclosed information exists.
• There is no specific reason attributable to the company for the recent price movement.
• Will continue to comply with disclosure obligations and make disclosures to the Stock Exchange as required.

Market maker discontinuation and continuation

• SS Corporate Securities Ltd to discontinue as market maker effective Sep 15, 2026.
• Rikhav Securities Ltd will continue as Karbonsteel's market maker.
• Merchant banker Seren Capital Private Limited notified with no objection.
• Application for discontinuation of market maker filed with BSE for SME security.
• Notice also published on Karbonsteel's website.

Overview & Financials

• FY26 revenue ₹300.88 Cr, up 10.2% YoY.
• EBITDA ₹32.67 Cr; margin 10.86%.
• PAT ₹10.51 Cr; margin 3.49%.
• Normalised PAT ₹16.56 Cr; 57.6% above reported PAT.
• FY26 revenue crossed ₹300 Cr; >2x current market cap.
• One-time expansion costs ₹5.89 Cr impacted margins.
• IPO completed; fresh issue 30.39 lakh shares; BSE SME listing.
• Dividend not declared for FY26.

Capacity Expansion & Utilisation

• Umbergaon expansion to 54,000 MT from 30,000 MT.
• Expansion underway; commence Oct-2026.
• Khopoli facility shutdown planned FY26-27.
• Current consolidated capacity 36,000 MT; expansion to 54,000 MT.
• Umbergaon capacity utilisation at 95.23%.

Order Book & Visibility

• Order book ₹353 Cr as on May 26, 2026.
• Active order pipeline ₹150 Cr.
• Total executable opportunities ₹650 Cr.
• Order book up 78% since Mar-2025.
• Strong visibility supports FY27 execution.

Automation & Efficiency

• Automation pillars: HD Plasma, automatic beam fit-up, blasting.
• Aims 15% labour efficiency, 25% labour-cost reduction.
• 1% operating margin uplift expected from FY28.

Product Mix & Markets

• Heavy Steel Structures 76% of FY26 revenue.
• Precision/Technological Structures 22%; Steel Bridge 2%; PEB 0%.
• Major customers include Arcelor Mittal Nippon Steel, Tata Projects.
• RDSO approval strengthens railway project exposure.
• ISO 9001:2015 and ISO 14001:2015 certifications.

IPO & Capital Structure

• IPO listed on BSE SME on Sep 16, 2025.
• Paid-up equity capital rose to ₹14.14 Cr.
• Fresh issue of 30,39,600 shares; premium ₹149; listing completed.
• Authorised capital ₹15 Cr; post-IPO paid-up disclosed.
• Dividend: no dividend declared FY26.

Governance & CSR

• CSR spend FY26: ₹26.50 Lakhs; CSR obligation ₹25.84 Lakhs.
• CSR committee chaired by Sunil Kathariya; 1 meeting.
• CSR projects include education, environment, and community welfare.
• Secretarial audit MR-3; no fraud; improvements planned.
• Monitoring of IPO proceeds via CARE Ratings; utilisation details on website.

Risks & Outlook

• Near-term headwinds: gas availability, input costs, labour constraints.
• Outlook: capacity expansion and automation to lift volumes and margins.
• Infra investments in railways, data centers, and power drive demand.

AGM Details

• Date and time: 23 September 2026, 3:00 PM IST.
• Mode: VC/OAVM.
• Cut-off date for remote e-voting: 16 September 2026.
• Remote e-voting window: 20–22 September 2026.
• Scrutinizer appointed: Amita Karia (CS) for voting.
• Deemed venue: Registered office of the company.

Ordinary Business

• Adopt Audited Standalone Financial Statements for FY 2025-26.
• Re-appoint Shrenik Kirit Shah as Managing Director.

Special Resolutions

• Ratify remuneration payable to Cost Auditors for 2026-27: Rs 17,000 p.a.
• Create security on assets to secure borrowings up to Rs 400 crore.
• Increase borrowing limit to Rs 400 crore and delegate powers.

Director Changes

• Shrenik Kirit Shah to retire by rotation; MD re-appointment proposed.

Auditors

• Cost Auditor remuneration ratified for 2026-27.
• No change in statutory auditors reported.

Related Party Transactions

• No material RPTs disclosed in this filing.

Other Approvals

• Special resolutions cover borrowings and security up to Rs 400 crore.