KIC Metaliks Ltd

KIC Metaliks Ltd: Closure of trading window from Thursday, October 1, 2026 till 48 hours from the declaration of unaudited Financial Results of the Company for the Quarter and Half year ended September 30, 2026

Credit rating upgrade

• Credit facilities of 25.00 crore and 95.01 crore upgraded to BBB+; Stable outlook.
• Previous: CARE BBB; Stable / CARE A3; Revised: CARE BBB+; Stable / CARE A3+.
• Rationale: improved capacity utilisation and financial risk profile.
• Related party BEL reclassified as related party; 35% of FY26 purchases from BEL.
• TSCPL infused ₹5 crore unsecured loan; term loan fully prepaid in FY26.
• Outlook: Stable; forward integration unit under discussion, no finalised plan.
• Gearing 0.59x; interest coverage 2.59x as of FY26.
• Q1 FY27 TOI ₹228.23 crore; PBILDT ₹7.29 crore; margins still low.

Credit rating upgrade details

• CARE upgraded KIC Metaliks' ratings to BBB+ (long-term) and A3+ (short-term) with Stable outlook.
• Total upgraded facilities: ₹95.01 crore long-term and ₹25.00 crore short-term.
• Rationale: stronger capacity utilization and debt protection; BEL reclassified as related party from FY26.
• BEL related-party linkage: ~35% of purchases sourced from BEL; improves supply chain.
• Promoter/TSCPL support: ₹5 crore unsecured loan infused in FY26.
• Key metrics: FY26 TOI ₹782.89 cr; PBILDT ₹25.07 cr; gearing 0.59x; liquidity adequate.
• Outlook stable; liquidity includes ₹10.07 cr cash and fully prepaid term loans.

Plant shutdown

• Durgapur plant shutdown w.e.f Sept 9, 2026 for rectification of blast furnace and accessories; restart to be announced.

AGM details

• AGM held Aug 25, 2026 at 11:30 A.M. via VC/OAVM.
• Record date for e-voting: Aug 18, 2026.

Resolutions considered

• Resolution 1 – Ordinary: Adopt Audited Financial Statements for year ended March 31, 2026.
• Resolution 2 – Ordinary: Re-appoint Mukesh Bengani by rotation.
• Resolution 3 – Special: Re-appoint Ishita Bose as Independent Director for second term.
• Resolution 4 – Special: Revision in remuneration of Mukesh Bengani, ED Finance and CFO.
• Resolution 5 – Ordinary: Approve Material Related Party Transaction with Bengal Energy Limited.
• Resolution 6 – Ordinary: Ratify remuneration of Cost Auditors for FY 2026-27.

Voting results

• Resolution 1: Passed; 28,414,855 in favour, 144 against.
• Resolution 2: Passed; 28,414,855 in favour, 144 against.
• Resolution 3: Passed; 28,414,855 in favour, 144 against.
• Resolution 4: Passed; 28,414,855 in favour, 144 against.
• Resolution 5: Passed; 4,896,625 in favour, 144 against.
• Resolution 6: Passed; 28,414,855 in favour, 144 against.

Directors & auditors actions

• Mukesh Bengani re-appointed by rotation.
• Ishita Bose re-appointed as Independent Director for second term.
• Remuneration revision for Mukesh Bengani; amount not disclosed.
• Cost Auditors remuneration ratified for FY 2026-27.

Related party approvals

• Material Related Party Transaction with Bengal Energy Limited approved.

AGM details

• AGM held Aug 25, 2026 at 11:30 a.m. via VC/OAVM.
• Remote e-voting from Aug 22–24, 2026.
• Cut-off date for voting: Aug 18, 2026.
• Total valid e-votes: 2,84,14,999 from 75 voters.

Resolutions and outcomes

• Resolution 1 (Ord): Adopt Audited Financial Statements for FY ended March 31, 2026; approved.
• Resolution 2 (Ord): Re-appoint Mukesh Bengani as director by rotation; approved.
• Resolution 3 (Spec): Re-appoint Ishita Bose as Independent Director for second term of five years; approved.
• Resolution 4 (Spec): Revision in remuneration of Mukesh Bengani as ED (Finance) and CFO; approved.
• Resolution 5 (Ord): Approve Material Related Party Transaction with Bengal Energy Limited; approved.
• Resolution 6 (Ord): Ratify remuneration of Cost Auditors for FY 2026-27; approved.
• All resolutions passed with the requisite majority.

AGM details

• Date and time: 25 Aug 2026 at 11:30 IST; mode: VC/OAVM.

Ordinary business

• Adopt Audited Financial Statements for the year ended March 31, 2026.
• Appoint a Director by rotation (re-appointment).

Special business

• Re-appointment of Ishita Bose as Independent Director for a second five-year term.
• Remuneration revision for Executive Director (Finance) and CFO.
• Approve Material Related Party Transactions with Bengal Energy Limited.
• Ratify remuneration of Cost Auditors for FY 2026-27.

Voting status

• Voting results to be declared after Scrutinizer's Report.
• Results to be posted on company, BSE and NSDL websites within 2 working days.

AGM details

• Date and time: 25 August 2026, 11:30 AM to 1:08 PM.
• Mode: Physical meeting at registered office (Deemed Venue).

Key resolutions

• Adoption of Audited Financial Statements for year ended March 31, 2026—outcome not disclosed.
• Director re-appointment by rotation: Mukesh Bengani.
• Re-appointment of Ishita Bose as Independent Director for a second 5-year term.
• Remuneration revision for Mukesh Bengani, ED (Finance) and CFO.
• Approval of material related party transaction with Bengal Energy Limited.
• Ratification of Cost Auditors’ remuneration for FY 2026-27.

AGM details

• 39th AGM on Aug 25, 2026 via VC/OAVM; cutoff Aug 18; e-voting Aug 22–24.

FY2025-26 financials

• Revenue from operations ₹78,288.86 lakh; PAT ₹105.11 lakh.
• Total comprehensive income ₹115.64 lakh; capacity utilisation 90.22%; pig iron output 2,12,020 MT.

Related party transactions

• Material RPT with Bengal Energy Limited approved; aggregate value up to ₹500 crore for FY2026-27; arm's length.

Governance changes

• Ishita Bose to be re-appointed as Independent Director for 5 years (Aug 2026–Aug 2031).
• Remuneration for Mukesh Bengani (ED-Finance & CFO) revised from Apr 1, 2026; shareholder approval required.
• Board comprises 3 Independent Directors and 2 Executive Directors.

Dividend and capital actions

• No dividend declared for FY2025-26.

Operational outlook

• FY2025-26 turnaround; MBF capacity 235k MTPA; 4.7 MW captive power; higher production.

Shareholder communications

• Book closure Aug 19–25, 2026; dematerialisation encouraged; NSDL e-voting details in notice.

Financials and results

• Subject: Un-audited results for quarter ended 30 June 2026; published in Business Standard and Arthik Lipi.
• Total revenue from operations: ₹22,822.68 Lakhs for Q1 FY2026.
• Net profit before tax (pre-exceptional): ₹273.06 Lakhs.
• Net profit after tax: ₹102.45 Lakhs.
• Total comprehensive income: ₹102.55 Lakhs.
• Earnings per share: Basic and diluted ₹0.29.
• Paid-up equity share capital: ₹709.92 Lakhs.
• Only one reportable segment: Iron & Steel and allied products.
• Board approved the results on 4 August 2026; Audit Committee reviewed.