Mideast Integrated Steels Ltd

Dematerialisation confirmation

• Physical certificates for dematerialisation were mutilated, cancelled, and depository name substituted within 15 days; securities listed.

Mideast Integrated Steels Limited — Closure of Trading Window for the 2nd quarter ended September 30, 2026; window to remain closed from October 1, 2026 till 48 hours after the announcement of the aforesaid financial results.

AGM Details

• AGM held on August 29, 2026, at 12:30 PM via VC/OAVM.
• Remote e-voting concluded on August 28, 2026.

Key Resolutions

• Resolution 1: Adopt audited financial statements for year ended March 31, 2026.
• Resolution 2: Regularize appointment of Natasha Sinha.
• Resolution 3: Regularize appointment of Asit Kumar Ray.
• Resolution 4: Regularize appointment of Rita Singh.
• Resolution 5: Approve related party transactions for 2026-27.
• Resolution 6: Grant borrowing power up to Rs 1,000 crores.
• Resolution 7: Grant power to sell/lease/dispose of undertakings.

Voting Results

• Resolution 1 passed with requisite majority.
• Resolution 2 passed with requisite majority.
• Resolution 3 passed with requisite majority.
• Resolution 4 passed with requisite majority.
• Resolution 5 passed with requisite majority.
• Resolution 6 passed with requisite majority.
• Resolution 7 passed with requisite majority.

Director Changes

• Natasha Sinha regularized as Additional Director.
• Asit Kumar Ray regularized as Director.
• Rita Singh regularized as Director.

Related Party Transactions

• Approved related party transactions for 2026-27; counterparty names and values not disclosed.

Other Material Approvals

• Borrowing powers approved up to Rs 1000 crores or higher of paid-up capital and free reserves.
• Board empowered to sell, lease or dispose of undertakings.

Asit Kumar Ray - Change in designation

• Designation changed to Director; effective 29 Aug 2026; profile: ~20 years in corporate affairs in steel and mining.

Natasha Sinha - Change in designation

• Designation changed to Director; effective 29 Aug 2026; profile: 20+ years in corporate management and finance.
• Relationship: Rita Singh is the mother of Natasha Sinha.

Rita Singh - Change in designation

• Designation changed to Whole-Time Director; effective 29 Aug 2026; profile: Chairperson and MD of Mesco Steel.
• Relationship: Natasha Sinha is the daughter of Rita Singh.

AGM details

• AGM held on 29 August 2026 at 12:30 PM via VC/OAVM.
• Meeting concluded at 1:20 PM; e-voting window 26–28 August 2026.
• Scrutinizer appointed for e-voting: Tripti Shakya & Co.

Resolutions

• Adopt audited financial statements for year ended 31 March 2026 (Ordinary).
• Regularise appointment of Additional Director Natasha Sinha (Ordinary).
• Regularise appointment of Additional Director Asit Kumar Ray (Ordinary).
• Regularise appointment of Additional Director Rita Singh (Special).
• Approve related party transactions for year 2026-27 (Special).
• Borrowing power up to Rs 1000 crores or higher of paid-up capital and free reserves (Special).
• Power to sell/lease or dispose of whole or substantially the undertaking (Special).

Voting results

• Voting results to be declared within 48 hours after meeting.
• Results to be posted on company, BSE and NSDL websites.

Dividend

• No dividend declared at this AGM.

Director changes

• Regularisation of three Additional Directors: Natasha Sinha, Asit Kumar Ray, Rita Singh.

Material related party transactions

• Material related party transactions approved for 2026-27.

Other material approvals

• Borrowing and disposal powers approved as per resolutions.

Financial snapshot

• Standalone revenue 547.89 mn; PBT -484.78 mn; PAT -662.79 mn.
• Consolidated revenue 5,677.59 mn; PBT -1,309.27 mn; PAT -1,685.46 mn.
• Dividend for 2025-26 not declared.

Subsidiary performance

• Maithan Ispat Limited revenue 512.97 crores; PAT -1,022.67 mn; PBT -824.48 mn.
• MISL holds 99.60% equity in Maithan Ispat Limited.

Related party transactions

• Maithan Ispat Limited, Mesco Steels Limited, Mesco Kalinga Steels Limited up to Rs 250 cr each.
• Leasing/office sharing and services with Mesco Hotels Limited and Mesco Kalinga Steels Limited.
• Board and audit committee authorized to finalize agreements and schedules.

Capital structure & dividends

• Equity share capital ₹1,378.75 mn; 13.7875 crore shares.
• Promoters hold 53.59%; IEPF 10.20%.
• Borrowings ₹445.21 mn non-current; ₹7.10 mn current.
• Board-approved limit to borrow up to ₹1,000 crore.

Governance & leadership

• Dushyant Kumar Singh died on 9 July 2025.
• Rita Singh appointed Chairperson and Whole-time Director.
• Natasha Sinha appointed Executive Director; Asit Kumar Ray appointed Additional Director.

Audit & risk

• Statutory auditor Ashok Shyam & Associates; report carries qualifications.
• Arbitration award Rs 718 crore; no provision; matter sub-judice.
• Going concern risk flagged; potential negative net worth.

Contingent liabilities & commitments

• Contingent liabilities include central excise, sales tax, income tax and GST; large disclosed.
• Guarantee to subsidiary: Rs 7,829.50 mn.
• Capital commitments: Rs 105.34 mn remaining.
• Unpaid dividend of Rs 2.5 crore not yet transferred to IEPF.

AGM and closure details

• AGM to be held on August 29, 2026 via VC/OAVM.
• Book closure from August 23 to August 29, 2026 (inclusive).
• Cut-off date for determining e-voting eligibility: August 22, 2026.

AGM details

• Date/time: 29 August 2026, 12:30 PM IST.
• Mode: VC/OAVM.
• Venue: deemed at the registered office, New Delhi.
• Record closure: 23-29 Aug 2026; e-voting cut-off: 24 Aug 2026.

Key resolutions

• Adoption of standalone and consolidated financial statements for year ended 31 March 2026.
• Natasha Sinha appointed Executive Director.
• Asit Kumar Ray appointed Executive Director.
• Rita Singh appointed Whole-Time Executive Director.
• Related party transactions approved up to Rs 250 crore per annum.
• Borrowing power up to Rs 1000 crore, or higher of paid-up capital and free reserves.
• Authority to transfer/lease/mortgage assets to secure borrowings; board to finalize agreements.

Material related party transactions

• Maithan Ispat Limited (subsidiary) to purchase/supply raw materials and related goods.
• Rita Singh and Natasha Sinha to engage in RPTs with Mesco Steels Limited and related promoters.
• Leasing/sublease of offices and vehicle/hospitality services involving key directors.
• Maximum annual value for RPTs disclosed as Rs 250 crore.

Other approvals

• Board authorized to execute agreements and necessary actions for listed transactions.