Lesha Industries Ltd

Lesha Industries Limited closes trading window from Thursday, October 01, 2026 till 48 hours after the declaration of unaudited Financial Results for the quarter and half year ended September 30, 2026.

AGM Details

• Date/time: 18 Sep 2026, 3:30–3:37 PM; mode: video conferencing/AV.
• Record date: 11 Sep 2026.
• Total shareholders on record: 76,072.
• Meeting held via video conferencing/AV.

Resolutions Put to Vote

• Resolution 1 (Ordinary): Adoption of Audited Financial Statements; passed 99.99%.
• Resolution 2 (Ordinary): Reappointment of Ashok Chinubhai Shah; passed 99.94%.
• Resolution 3 (Ordinary): Appointment of Khimani and Co as Statutory Auditors; passed 99.94%.
• Resolution 4 (Special): RPT with Rhetan TMT Limited; passed 95.20%.
• Resolution 5 (Special): RPT with Ashnisha Industries Limited; passed 95.20%.
• Resolution 6 (Special): RPT with Ashoka Metcast Limited; passed 95.20%.
• Resolution 7 (Special): RPT with Gujarat Natural Resources Limited; passed 95.20%.
• Resolution 8 (Special): RPT with Lesha Ventures Private Limited; passed 93.08%.

Director Changes

• Director reappointment: Ashok Chinubhai Shah; retires by rotation; eligible for reappointment.

Auditors

• Statutory Auditor: Khimani and Co.; Firm Reg. No. 0130022W.

Material Related Party Transactions

• Rhetan TMT Limited; Ashnisha Industries Limited; Ashoka Metcast Limited; Gujarat Natural Resources Limited; Lesha Ventures Private Limited.

AGM Details

• AGM held Sept 18, 2026, 03:30–03:37 PM, via Video Conference/OAVM.
• Chair presided by Shalin Shah due to MD's health concerns.
• Quorum met via VC; panelist directors counted for quorum.
• Remote e-voting held Sept 15–17, 2026; 15 minutes for on-site votes.
• Voting results to be announced within 2 working days.

Resolutions

• Ordinary: Adopt audited financial statements for year ended March 31, 2026.
• Ordinary: Re-appoint Ashok Chinubhai Shah by rotation.
• Ordinary: Appoint Khimani & Co. as statutory auditors.
• Special: Approve material related party transactions with Rhetan TMT Limited.
• Special: Approve material related party transactions with Ashnisha Industries Limited.
• Special: Approve material related party transactions with Ashoka Metcast Limited.
• Special: Approve material related party transactions with Gujarat Natural Resources Limited.
• Special: Approve material related party transactions with Lesha Ventures Private Limited.

Auditors

• Statutory auditor Khimani & Co appointed.

Material Related Party Transactions

• Rhetan TMT Limited — material related party transaction; nature and value not disclosed.
• Ashnisha Industries Limited — material related party transaction; nature and value not disclosed.
• Ashoka Metcast Limited — material related party transaction; nature and value not disclosed.
• Gujarat Natural Resources Limited — material related party transaction; nature and value not disclosed.
• Lesha Ventures Private Limited — material related party transaction; nature and value not disclosed.

Upcoming AGM and shareholder notices

• Dispatched letters to non-email shareholders with web-link to access FY2025-26 Annual Report.
• 34th AGM to be held Sept 18, 2026 via VC/OAVM.
• Notice and Annual Report for FY2025-26 available for download via specified links.
• Shareholders to update KYC details with DP/RTA.
• E-voting window Sep 15–17, 2026; cut-off Sep 11, 2026.
• Refer AGM Notice for speaker registration and joining procedures.

Financial performance

• Revenue from operations: 474.14 Lakhs in FY25-26; down from 1,245.54 in FY24-25.
• Total income: 515.96 Lakhs in FY25-26.
• Profit before tax: 21.55 Lakhs; profit after tax: 13.85 Lakhs.
• Basic EPS: 0.005; no dividend declared for the year.
• Reserves and surplus: 4571.76 Lakhs; total equity: 7416.93 Lakhs.
• Registered office shifted within Ahmedabad; AGM: 34th on 18 Sep 2026 via VC/OAVM.
• Management aims revival and expansion of steel business; outlook positive amid reforms.
• RPT framework: material transfers with related parties up to Rs 150 crore for FY27-28.

Operations and business developments

• Segment revenue: Steel Trading 463.97 Lakhs; Others 10.17; Trading of Goods 0.00; total 474.14.
• No subsidiaries or joint ventures; focus on trading steel, chemicals, and shares.
• Registered office relocated to Corporate House-2, Ambli, Ahmedabad.
• Outlook: steel and chemical trading remains positive amid domestic demand and policy support.
• Management plans to revive steel business and enhance efficiency.

Governance and board changes

• Board comprises six directors; independent directors number three; nine board meetings held.
• Statutory auditors Khimani & Co. appointed for five years subject to member approval.
• Secretarial auditor: Chintan K. Patel; secretarial audit report attached.
• Independent Directors met in Mar 2026 to review governance and information flow.
• Company Secretary: Maitri Kansara ceased April 10, 2026; Priyanshi Sharma appointed June 19, 2026.

Capital structure and liquidity

• Equity share capital: 2845.17 Lakhs; total equity: 7416.93 Lakhs; reserves: 4571.76 Lakhs.
• Current borrowings: 9.53 Lakhs; cash and cash equivalents: 30.86 Lakhs.
• Debt-to-equity ratio: 0.001; net debt position modest against equity.

Related party transactions and governance

• Material RPTs with RTL, Ashnisha, AML, GNRL, LVPL; up to Rs 150 crore per party for FY27-28.
• RPTs reviewed by Audit Committee; annual approvals via Special Resolutions.
• Promoter/Director interests include RTL, AML, GNRL holdings; cross-directorships disclosed.
• Audit Committee approvals obtained for repetitive RPTs; Industry Standards disclosures provided.

Audits and internal controls

• Statutory auditors Keyur Bavishi & Co. demits; Khimani & Co. appointed for 5-year term.
• Secretarial audit: Compliance by Lesha; Annexures II to VI attached.
• Internal controls: Adequate and operating; no material weaknesses reported.

Risks, outlook and ESG

• Outlook positive for steel and chemical trading; domestic demand supports growth.
• Risks: raw material price volatility, regulatory costs, currency fluctuations, and supply chain.
• CSR not applicable; emphasis on compliance and governance.

Shareholder information and AGM

• AGM scheduled for September 18, 2026; VC/OAVM; remote e-voting Sept 15-17, 2026.
• Top promoters as of March 31, 2026: Shalin Shah 16.52%, Ashok Shah 9.14%, LVPL 8.50%, Leena Shah 7.49%.
• Dividend for the year was not declared.

AGM details

• Date/time/mode: Sep 18, 2026, 03:30 PM IST via VC/OAVM.
• Record/Book closure: Sep 12–18, 2026.
• AGM venue deemed to be the registered office.

Ordinary business resolutions

• Adopt audited standalone financial statements and reports.
• Re-appoint Ashok Shah as Director, retiring by rotation.
• Appoint M/s Khimani & Co as Statutory Auditors for five years.
• Remuneration to be mutually agreed; Audit Committee authorized to revise terms.

Special business resolutions (4-8)

• Special Resolution 4: RPT with Rhetan TMT Limited up to Rs 150 crore for FY 2027-28.
• Special Resolution 5: RPT with Ashnisha Industries Limited up to Rs 150 crore for FY 2027-28.
• Special Resolution 6: RPT with Ashoka Metcast Limited up to Rs 150 crore for FY 2027-28.
• Special Resolution 7: RPT with Gujarat Natural Resources Limited up to Rs 150 crore for FY 2027-28.
• Special Resolution 8: RPT with Lesha Ventures Private Limited up to Rs 150 crore for FY 2027-28.
• Board and Audit Committee empowered to implement and amend terms.

RPT governance framework

• Material RPT threshold set at 10% of annual turnover; cap Rs 150 crore for FY27-28.

Auditor appointment

• Appointed Khimani & Co. as Statutory Auditors.
• Five-year term from ensuing AGM to 39th AGM (2031), subject to members' approval.
• Approved by Board as recommended by Audit Committee.