Tamilnadu Steel Tubes Ltd

Appointment of Independent Director

• Appointed Independent Director representing Small Shareholders to fill vacancy from Divya Abhishek; term 21.09.2026 to 20.09.2029.
• Profile: DIN 11923063; consent received; independence criteria declared.

Cessation of Independent Director

• Independent Director Divya Abishek will cease as director on Sep 20, 2026 due to tenure completion.

AGM details

• AGM held on 16 September 2026 at 10:00 IST via VC/OAVM.
• Venue: Registered office, No. 22, Wheatcroft Road, Nungambakkam, Chennai.

Key resolutions and voting results

• Resolution 21 in the Notice of AGM passed by shareholders.
• Scrutinizer conducted remote e-voting and AGM voting; combined report submitted.

AGM Details

• 47th AGM held on 16 September 2026 at 10:00 AM IST via VC/OAVM.
• Attendance: 76 members present via video conference; quorum declared by the Chairman.

Resolutions Put to Vote

• Adoption of Audited Financial Statements for the year ended 31 March 2026.
• Re-appointment of Ram Ashish Singh as Whole Time Director for three years.
• Appointment of Ashok Kumar Shukla as Whole Time Director for three years, replacing N. Sudarshan.
• Remuneration for Ashok Kumar Shukla for three years from 14 Feb 2026 to 13 Feb 2029.
• Appointment of Avantika Shankar as Independent Director representing Small Shareholders for three years.
• Appointment of Secretarial Auditor V.S. Sowrirajan and firm with remuneration.
• Appointment of Cost Auditor M/s Lathavenkatesh & Associates with remuneration.
• Formation of Gratuity Trust.
• Opening and operation of Suspense Escrow Account in Stock Holding Corporation of India.
• Overdraft facility of Rs 3 crore and borrowing increase to Rs 16 crore approved.
• Transfer of leasehold right of 6.5 acres to Mr. Rakesh Goyal.
• Related Party Transaction: royalty payments to Mr Saatvik Goyal for trademarks.
• Purchase of solar power from private operators.
• Appointment of Data Privacy Auditor Sharan Ramachandran & Co as Special Resolution.
• Appointment of Internal Control Auditor Neeraja & Associates as Special Resolution.

Voting Results

• Voting outcomes not specified in the filing.
• AGM concluded at 10:42 AM.

Director Changes

• Ram Ashish Singh re-appointed as Whole Time Director for three years.
• Ashok Kumar Shukla appointed Whole Time Director for three years, replacing N. Sudarshan.
• Avantika Shankar appointed Independent Director representing Small Shareholders for three years.

Auditor Appointments

• Secretarial Auditor appointed: V.S. Sowrirajan and firm; remuneration fixed.
• Cost Auditor appointed: M/s Lathavenkatesh & Associates; remuneration fixed.
• Internal Control Auditor appointed: Neeraja & Associates; remuneration not specified.
• Data Privacy Auditor appointed: Sharan Ramachandran & Co.
• GST Auditor appointed: MT TMN Kesavan.

Material Related Party Transactions

• Related Party Transaction: royalty payments to Mr Saatvik Goyal for trademarks.

Other Approvals

• Formation of Gratuity Trust approved.
• Transfer of leasehold right of 6.5 acres approved.
• Purchase of solar power from private operators approved.

Financial snapshot

• Revenue from operations (net) 91.86 Cr; total income 93.46 Cr.
• EBITDA 149.28 Lakhs; EBITDA margin 1.62%.
• PBT 36.22 Lakhs; PAT 5.75 Lakhs.
• Net worth 991.04 Lakhs; RONW 0.58%.
• EPS 0.11 Rs; book value per share Rs 19.34.
• Net cash from operations 177.35 Lakhs.

Pipes business performance

• GI/GI pipes production 12,881.77 MT; sales 12,867.86 MT.
• Net sale value Rs 9,185.92 Lakhs; EBITDA Rs 149.28 Lakhs.
• Operating EBITDA margin 1.62%.

Capital structure & liquidity

• OD facility with City Union Bank enhanced to Rs 16 Crores.
• Borrowings: current Rs 990.58 Lakhs; non-current Rs 40.77 Lakhs.
• Debt to equity 1.04x; current ratio 2.62x.
• Cash & cash equivalents Rs 3.05 Crores; equity Rs 9.91 Crores.
• Total assets approx Rs 37.65 Crores.

Capital commitments & future energy

• Capital commitments: Ananta Eng 132.13 Lakhs; MC Tools 29.19; Sarbati 46.96 Lakhs.
• Solar power installation under consideration; capacity and terms to be decided.

Dividend, AGM & corporate actions

• Dividend for FY25-26 not declared.
• 47th AGM on 16 Sep 2026 via VC/OAVM; adoption of financial statements.
• Record date for dividend fixed 16 Sep 2026; payout after Jul 1, 2026 if approved.

Governance & board changes

• N. Sudarshan ceased WTD on 14 Feb 2026.
• Ashok Kumar Shukla appointed WTD from 14 Feb 2026 for 3 years.
• Avantika Shankar appointed Additional & Independent Director from 19 Aug 2026.
• Board met 4 times in FY2025-26; independent directors held separate meeting.

Related party transactions

• Royalty to Satvik Goyal for FY2026-27: Rs 3.00 Lakhs; arm's length.
• MD remuneration Rs 3.17 Lakhs; director sitting fees Rs 1.46 Lakhs; total directors’ remuneration Rs 29.38 Lakhs.

ESG, energy & sustainability

• Energy conservation: LED upgrades, energy audits; Energy Cell operations.
• CO2, water, biodiversity initiatives; rainwater harvesting; afforestation around plants.
• Green initiative: paperless communications and digital AGM notices.

Audit, risk & governance

• Secretarial audit by DPV & Associates; no observations reported.
• Independent Directors held meetings; robust governance framework per SEBI LODR.