Vesuvius India Ltd

Key Decisions

• Board approved Business Transfer Agreement with Foseco India to sell Mehsana Facility as going concern.
• Sale to be completed as slump sale for INR 43.25 crore, subject to adjustments.
• Latest completion date: 31 December 2026.
• Transaction not through scheme of arrangement; no change in shareholding post sale.
• Buyer FIL is a fellow subsidiary; related party transaction approved by Audit Committee and Independent Directors.
• Sale deemed at arm's length per BDO Valuation Advisory LLP.
• Mehsana facility revenue for FY2025: Rs 58.13 crore; net worth Rs 34.74 crore.
• Board meeting held on 13 August 2026.

Financial highlights

• Quarter total income ₹546.17 cr; PAT ₹58.51 cr; EPS ₹2.88.
• H1 total income ₹1,074.32 cr; PAT ₹114.36 cr; EPS ₹5.63.
• Audit: Limited Review Report unmodified.
• Single operating segment: refractories; manufacturing, trading and sale.

Balance sheet snapshot

• Total assets ₹2,214.82 cr; equity ₹1,748.74 cr; liabilities ₹466.08 cr.
• Current assets ₹1,486.77 cr; non-current assets ₹728.05 cr.
• Cash & cash equivalents ₹282.01 cr; inventories ₹323.87 cr; trade receivables ₹520.53 cr.
• Equity: share capital ₹20.30 cr; reserves ₹1,728.44 cr.
• Current liabilities ₹421.99 cr; non-current liabilities ₹44.09 cr.

Cash flows & capex

• Cash from operations ₹59.27 cr in H1.
• Capex on PPE ₹48.92 cr in H1 2026.
• Dividends paid ₹30.30 cr.
• Closing cash & equivalents ₹282.01 cr.

Notes

• Results are standalone; single operating segment; refractories.

Volume increase clarification

• The volume increase is market-driven and not controlled by the company.
• Company has provided timely disclosures of price-sensitive information under SEBI LODR.
• The company will furnish further clarification to exchanges as required to meet statutory compliance.
• It has no knowledge or control over factors driving the price/volume behaviour.

AGM details

• 35th AGM held on 7 May 2026 at G. D. Birla Sabhagar, Kolkata.
• Meeting started at 10:30 a.m. and concluded at 12:55 p.m.
• AGM was held physically; voting used remote e-voting and tab voting at venue.

Ordinary business

• Adopted audited financial statements and board and auditor reports for year ended 31 December 2025.
• Approved final dividend of ₹1.50 per equity share.
• Reappointed Pascal Herve Martin Marie Genest as director liable to retire by rotation.
• Reappointed Mohinder Pradip Singh Rajput as director liable to retire by rotation.

Special business

• Ratified remuneration of cost auditors M/s J K & Co. for FY2026 audit.

Voting results

• All five resolutions passed with requisite majority.
• Resolution 1 received 99.9973% votes in favour.
• Dividend resolution received 99.9973% votes in favour.
• Genest reappointment received 99.5941% votes in favour.
• Rajput reappointment received 99.8960% votes in favour.
• Cost auditor remuneration ratification received 99.9963% votes in favour.

Dividend

• Final dividend approved at ₹1.50 per equity share of face value ₹1 each.

Auditors

• Cost auditor remuneration ratified for M/s J K & Co. for financial year ending 31 December 2026.