Visa Steel Ltd

Director Appointment

• Appointment of Mr. Anutosh Maitra as Additional Director (Non-Executive, Independent) effective Sept 29, 2026, subject to shareholders' approval.
• Term: Three years commencing Sept 29, 2026 to Sept 28, 2029.
• Not related to any other Director.
• Not debarred from holding the office of Director.

AGM details

• AGM held Sep 29, 2026 at 12:00 via VC/OAVM.
• Chairing by Vice-Chairman & MD due to Chairman's health.
• Quorum present; meeting conducted electronically under applicable regulations.
• Remote e-voting: Sep 26–28, 09:00–17:00, extended by the company.
• Poll voting conducted during AGM; results to be submitted by Oct 1.

Key resolutions

• Adopt standalone and consolidated audited financial statements for year ended Mar 31, 2026.
• Re-appoint Vishal Agarwal as Director, retiring by rotation.
• Ratify Cost Auditor remuneration for FY ending Mar 31, 2026.
• Re-appoint and redesignate Vishambhar Saran as Non-Executive Chairman.
• Revise remuneration terms of Vishal Agarwal, Vice-Chairman & MD.
• Re-appoint Vishal Agarwal as Vice-Chairman & MD.
• Re-appoint Manoj Kumar as Joint MD; remuneration revised.
• Re-appoint Biswajit Chongdar as Independent Director for second term.
• Re-appoint Ritu Bajaj as Independent Director for second term.
• Approve Material Related Party Transactions.

Voting results

• Voting results will be submitted to stock exchanges by Oct 1, 2026.

Directors

• Vishal Agarwal re-appointed as Vice-Chairman & MD.
• Vishambhar Saran re-designated as Non-Executive Chairman.
• Manoj Kumar re-appointed as Joint MD; remuneration revised.
• Biswajit Chongdar re-appointed as Independent Director for second term.
• Ritu Bajaj re-appointed as Independent Director for second term.

Auditors

• Cost Auditor remuneration ratified for FY 2026.

Related party transactions

• Approval of material related party transactions.

VISA Chrome Limited: Trading Window to remain closed from October 1, 2026 till 48 hours after the declaration of the Financial Results for the quarter and half year ending September 30, 2026

Key Update

• Consolidated results cover VISA Chrome Limited, its wholly owned subsidiary KCPL, and joint venture VUIL.
• KCPL and VUIL have no commercial operations or revenue for the year ended 31 March 2026.
• The impact on consolidated figures is negligible; results prepared under Indian Accounting Standards and SEBI regulations.
• Clarification on financial results has been submitted to NSE.

AGM notice and e-voting details

• 30th AGM scheduled for 29 September 2026 at 12:00 IST via VC/OAVM.
• Electronic copies of AGM Notice and FY2025-26 Annual Report sent to registered email IDs.
• Letter with website links sent to shareholders without registered email addresses.
• Remote e-voting open 26 Sep 2026 at 3:00 AM IST.
• Remote e-voting closes 28 Sep 2026 at 5:00 PM IST.
• Cut-off date for eligibility is 22 September 2026.
• Results will be declared within 2 working days after the AGM.
• Physical holders must complete KYC per SEBI circular; provide PAN, nomination, address, bank details, signature (ISR-1).
• Queries to KFin Technologies Limited, Senior Manager Suresh Babu D.

Disclosure facts

• Target Company: VISA Chrome Limited (formerly VISA Steel Limited).
• Disclosing Party: Assets Care & Reconstruction Enterprise Limited (ACRB); not promoter group.
• Transaction type: Disposal of voting-rights shares in VISA Chrome Limited via open market.
• Pre-transaction holding: 1,05,63,899 shares (1.25%), no encumbrances.
• Shares sold: 61,60,000 (4.64%); aggregate sale: 67,60,000; mode: open market.
• Post-transaction holding: 38,03,899 shares (2.61%).
• Date of transaction: August 27, 2026.
• Equity share capital before: 14,51,89,500; after: 14,57,89,500; diluted: 16,57,89,500.

Key transaction details

• Target company: VISA Chrome Limited (formerly Visa Steel Limited).
• Disclosing Party: Assets Care & Reconstruction Enterprise Limited (ACRE), sole trustee for trusts; not promoter group.
• Transaction Type: Open-market disposal of voting rights.
• Pre-Transaction Holding: 1,05,63,899 shares (7.25%).
• Transaction Details: 67,55,253 shares sold; 4.63% of total, 4.07% of diluted.
• Post-Transaction Holding: 38,08,646 shares; 2.61% voting, 2.30% diluted.
• Date of Transaction: August 27, 2026.
• Capital: Before: INR 1,45,78,95,000; 14,57,89,500 shares.
• Capital: After: same equity capital; diluted: INR 1,65,18,95,000; 16,57,89,500 shares.