KIOCL Ltd

Appointment of Government Nominee Director

• Type: Appointment of Government Nominee Director on KIOCL Board.
• Appointee: Shri Arindam Chaudhary, Deputy Secretary, Ministry of Steel.
• Effective date: 12.10.2026.
• Reason: Appointment by Ministry of Steel to fill vacancy.
• Previous director: Gopalkrishnan Ganesan ceases on appointment.
• Profile: Deputy Secretary, Ministry of Steel; former Director (Personnel and Finance) HPSEBL; MD, HPMC.
• Inter-director relationships: No inter se relationship disclosed.

AGM Details

• 50th AGM held on 29 September 2026 at 11:00 AM via VC/OAVM.
• Venue: II Block, Koramangala, Bengaluru.
• Quorum met; 80 shareholders including Presidential Nominee.
• Remote e-voting conducted Sep 26–28, 2026.

Resolutions

• Adoption of financial statements for year ended March 31, 2026.
• Appointment of Ganti Venkat Kiran as director, retiring by rotation.
• Appointment of Gopalakrishnan Ganesan as director, retiring by rotation.
• Fixing remuneration of Statutory Auditors.
• Appointment of Subhash Chandra Saraf as Independent Director.
• Appointment of Avtar Singh as Independent Director.
• Appointment of Rakesh Modi as Independent Director.
• Ratification of remuneration of the Cost Auditor.

Voting & Results

• Remote e-voting conducted from Sep 26–28, 2026.
• Scrutinizer to declare results; final report to stock exchanges.
• Meeting concluded at 11:37 AM; e-voting open for 30 more minutes.
• No shareholder spoke; clarification provided when requested.

Directors & Auditors

• Independent Directors appointed: Saraf, Avtar Singh, and Rakesh Modi.
• Rotational reappointment of Kiran and Ganesan as directors.
• Remuneration for Statutory Auditor to be fixed.
• Cost Auditor remuneration ratified.

KIOCL Limited: Trading Window closed from September 30, 2026 until 48 hours after Board Meeting approving unaudited financial results for the quarter ended September 30, 2026

Financial snapshot

• Total revenue: 708.26 crore, up from 640.63 crore.
• Revenue from operations: 613.46 crore, up from 590.52 crore.
• PAT turned positive at 16.57 crore, reversing prior loss of 204.58 crore.
• PBT: 11.89 crore; EBITDA: 26.44 crore.
• EPS: 0.27 per share; ROE 0.96%; ROCE 1.30%.
• Export revenue: 150.23 crore; domestic manufacturing and tolling drive growth.
• Net cash and bank balances: 825.83 crore.

Operational performance

• Pellet Plant produced 0.926 million tonnes; sold 0.977 million tonnes.
• BFU suspended since 2009; backward integration under study for viability.
• NMDC tolling: IOF 5.72 MT, marketing 5.20 MT; record NMDC pellet dispatch 27.71 LT across 53 shipments.

Devadari iron ore mine & raw material security

• Devadari mine forest lease agreement executed; 388 ha.
• GOI extends mineral production/dispatched timeline to 01-01-2028.
• Working permissions and road diversions under process; project poised to improve captive material security.

Capital investments & modernization

• Coke Oven Plant (1.80 LTPA) capex 218.30 crore; 76% progress as of 31-03-2026.
• Backward integration program outlay: 836.90 crore; JV exploration via PwC; some packages re-tendered.
• BFU revival evaluated; only if technically and commercially viable.

Digital transformation & procurement

• SAP S/4HANA ERP implemented; e-office and SRM portal launched.
• MSME procurement reached 121.98 crore, 29.28% of total; GeM procurement 392.37 crore.
• Digital procurement improves transparency; KREMT portal services over 2,000 retired personnel.

Energy, environment & safety

• Renewable energy share rose to 53.61%; 76.48 GWh wheeled non-captively; 1.10 crore solar units produced.
• Decommissioned 9.36 MW furnace-oil captive generation; grid power up to 30 MVA.
• IBC Agni Suraksha Puraskar 2026; safety training 1,000 man-days; 32,000 MT coke storage shed commissioned.

Governance, risk & compliance

• Board met six times in FY2025-26; independent directors appointed; women director not yet appointed.
• MoU for FY25-26 not signed; penalties imposed by stock exchanges for LODR non-compliances earlier; resolved subsequently.
• 50th AGM planned for Sep 29, 2026; multiple board committees functioned with governance reforms.

People, CSR & ESG

• Total employees: 474; WIPS active; CSR budget nil due to prior losses.
• Employee safety programs: ISO 45001, ongoing training, and robust grievance mechanisms.

Outlook & risks

• Domestic pellet demand strengthening with higher-volume conversions via NMDC tolling and Devadari project.
• Strategic focus on Devadari Mine execution, Coke Oven commissioning, and potential JVs for backward/forward integration.

Financial results and regulatory disclosures

• Standalone unaudited results for quarter ended 30 June 2026 approved by the Board.
• Limited Review Report from the statutory auditor attached.
• Regulation 32 not applicable for Deviations and Variations.
• Results will be uploaded on kioclltd.in.
• Auditor notes no material misstatement and disclosures comply with SEBI LODR requirements.

Meeting Details

• Board meeting scheduled for Thursday, August 13, 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve unaudited financial results for the quarter ended June 30, 2026.

Other Notes

• Trading window closed from July 1, 2026; reopens 48 hours after results announcement.

Independent Director Appointments

• Appointment of Shri Rakesh Modi as Non-Official Independent Director for three years from 14 July 2026.
• Appointed under Ministry of Steel Order No. 1/1/2026-BLA dated 14 July 2026.
• Term of appointment: three years or until further orders, whichever earlier.
• Profile: governance and community leadership; former VP, Indian Red Cross Society.
• Shri Rakesh Modi is not related to any KIOCL director.
• Not debarred from holding office by SEBI or other authorities.
• Appointment of Shri Subhash Chandra Saraf as Non-Official Independent Director for three years from 14 July 2026.
• Order No. 1/1/2026-BLA; Ministry of Steel.
• Profile: 40+ years in Audit, Tax, M&A; former independent director at NBCC and STC.
• Shri Subhash Chandra Saraf is not related to any KIOCL director.
• Shri Subhash Chandra Saraf is not debarred from holding office.
• Appointment of Shri Avtar Singh as Non-Official Independent Director for three years from 14 July 2026.
• Profile: 18+ years in pharma marketing; North Zone Zonal Head; local governance roles.
• Shri Avtar Singh is not related to any KIOCL director.
• Shri Avtar Singh is not debarred from holding office.