Rathi Steel & Power Ltd

Dematerialisation processing and record updates

• Securities received for dematerialisation were confirmed to Depositories within 15 days.
• Security certificates for dematerialisation were mutilated and cancelled after verification.
• Depository name substituted as registered owner in the Register of Members within 15 days.
• Records updated with the Depository and stock exchanges where listed within 15 days.
• Register of Members updated accordingly.

AGM Details

• Date, time, mode: 29 Sep 2026, 1:30 PM–2:30 PM IST, VC/OAVM.
• Held through VC with no physical attendance.
• Registered office deemed the meeting venue.

Key Resolutions

• Adopt audited standalone financial statements for year ended 31 March 2026 (Ordinary).
• Director appointment by rotation (Executive Director) – Ordinary resolution.
• Ratify cost auditor remuneration for 2026-27 (Ordinary).
• Approve new Memorandum of Association under Companies Act 2013 (Special).

Voting Results

• Consolidated results to be declared within 2 working days.
• Results to be placed on company and NSDL websites and with BSE.

Director Changes

• Executive Director re-appointment by rotation.

Auditors & Remuneration

• Cost auditor remuneration ratified for 2026-27.

Promoter to Public Reclassification

• Board approved DBG's reclassification from Promoter to Public, subject to stock exchange and shareholder approvals.
• Letter dated September 19, 2026 from DBG seeking reclassification.
• DBG underwent CIRP; new management took over; erstwhile promoters no longer in control.
• As of the date, DBG holds less than 10% voting rights with no special rights.
• DBG is not represented on the board nor is it a KMP.
• Reclassification not aimed at meeting Minimum Public Shareholding; trading has not been suspended.
• Company remains compliant with MPSH requirements; no outstanding dues to SEBI, stock exchanges, or depositories.
• Subject to stock exchange, shareholders, and any other necessary approvals.

Rathi Steel and Power Limited: Trading Window closed from October 1, 2026 till the expiry of 48 hours after the declaration of unaudited financial results for the quarter and half year ending September 30, 2026

Meeting Details

• Date and time: Monday, 28 September 2026, 2:00 PM-3:00 PM.
• Type/Mode: Group meeting, virtual.
• Organiser: Organised Capital Meetings.
• Purpose: Investor/analyst discussions based on generally available information.

Participants

• Company Secretary & Compliance Officer to participate.

Reclassification request

• DBG Leasing and Housing Limited requests reclassification from Promoter to Public category.
• Request received on 19 September 2026; board to consider at upcoming meeting.
• Company will apply for requisite approvals after board consideration.

Cost Auditor appointment

• Appointment of M/s R. M. Bansal & Co. as Cost Auditor for FY 2026-27, effective Sep 1, 2026.

Internal Auditor appointment

• Appointment of M/s DIT & Company as Internal Auditor for FY 2026-27, effective Sep 1, 2026.

Financial Performance

• Q1 FY27 total income INR 193.67 crore; YoY +24.6%.
• EBITDA INR 7.77 crore; YoY +24.83%.
• PAT INR 3.48 crore; YoY +84.5%.
• PAT margin 1.8%; up 58 bps YoY.
• Volumes 28,372 MT; +30% YoY.
• TMT bars 18,677 MT; up from 8,200 MT.
• Stainless volumes ~9,000 MT; down 10–12% YoY.

Operating Update

• Revenue mix: TMT ~47–48%; stainless balance.
• Rolling-mill utilization: 50% in FY26; target ~60% in FY27.
• Melting capacity integration: trial runs done; ramp expected by Q4 FY27.
• Capex in FY27 so far: INR 4–5 crore.
• Full-year capex outlook: ~INR 15 crore plus; funded largely by internal accruals.
• Raw materials: 95%+ domestic suppliers; hedging to manage volatility.
• GreenPro certification: provides bid advantages; norms becoming standard.
• Brand license: Rathi brand licensee; royalty ~₹400–₹500 per year; negligible.
• NCR exposure: ~80–90% of total sales; TMT 100% NCR.

Capex and Projects

• Capex incurred FY27 so far: INR 4–5 crore.
• Full-year capex outlook: ~INR 15 crore plus; internal accruals.
• TMT melting capacity integration; trial runs completed; ramp post-monsoons.

Guidance and Outlook

• Guidance: 20% CAGR revenue growth over the next 2–3 years.
• Capex outlook: ~₹15 crore plus for FY27; funded by internal accruals.
• TMT 550D ramp expected by Q4 FY27.
• Refinancing with lenders to lower borrowing costs.

Q&A Highlights

• Q2 momentum: Jul–Aug run-rate not disclosed; aim to sustain Q1 momentum; monsoon dampening possible.
• Stainless vs TMT margins: expect improvements through integration; 2–3% uplift over 2 years.
• Top customers: no exact share figure provided; IR to share if needed.
• GreenPro/BIS updates: certification aids bids; not yet quantified.
• Rooftop solar: feasibility under evaluation; final plan not decided.