Vraj Iron And Steel Ltd

Sale of MVK Industries investment

• Board approved sale of 396,000 MVK Industries shares to promoter group Gopal Sponge and Power Pvt Ltd.
• Price Rs 115 per share, total Rs 4,55,40,000.
• Transaction qualifies as related party, but on arm's length terms.
• Proceeds to fund ongoing expansion; investment non-core and pre-listing.
• Expected completion date: October 31, 2026.
• Buyer is promoter and holding company of the issuer.
• Approvals under Companies Act, SEBI LODR, to be obtained.
• MVK shareholding: promoter group holds 13.20% stake; MVK not consolidated.

Vraj Iron And Steel Ltd – Trading Window Closure

AGM details

• Date and time: 12-09-2026, 1:00 PM to 2:30 PM; mode: physical with remote e-voting facility.
• Record date for voting: 07-09-2026.

Resolutions and outcomes

• Resolution 1 (Ordinary): Adopt audited standalone and consolidated financial statements; passed.
• Resolution 2 (Ordinary): Re-appoint Prasant Kumar Mohta as director; passed.
• Resolution 3 (Ordinary): Re-appoint Praveen Somani as Whole-time Director; passed.
• Resolution 4 (Ordinary): Ratify remuneration payable to Cost Auditor for FY 2026-27; passed.
• Resolution 5 (Ordinary): Approve material related party transactions for guarantee services; passed.

AGM details

• Date: 12 September 2026; Time: 01:00–02:30 PM.
• Mode: Physical meeting at Manch Auditorium, Raipur.
• Venue: Manch Auditorium, 3rd Floor, Zora Mall, Raipur.

Key resolutions

• Adopt Audited standalone and consolidated financial statements for FY ended 31 March 2026.
• Re-appoint Prasant Kumar Mohta as Director (retiring by rotation).
• Re-appoint Praveen Somani as Whole-Time Director for five years.
• Fix remuneration payable to Cost Auditors for FY 2026-27.
• Approve material related party transactions involving guarantees/services with related parties.

Material related party transactions

• Approval of material related party transactions involving guarantees/services with related parties.

Director changes

• Mohta re-appointed as Director (retiring by rotation).
• Somani appointed as Whole-Time Director for five-year term.

Key Update

• MoEFCC transfers EC for Bastar greenfield project to Vraj Iron and Steel.
• Transfer enables development and capacity expansion of the Bastar project at Village Chapka, Bastar, Chhattisgarh.

AGM details and notices

• 22nd AGM scheduled for 12 September 2026 at 01:00 PM IST in Raipur.
• Remote e-voting window opens 9 September 2026 at 09:00 IST and closes 11 September 2026 at 17:00 IST.
• Cut-off date for remote e-voting entitlement: 7 September 2026.
• Annual Report FY2025-26 available on the company website; web-link provided.
• Notice and Annual Report also accessible on BSE and NSE websites.
• Letters dispatched to members without registered emails with link and QR code.
• KYC update requested: PAN, address with PIN, mobile, bank details, signature, nomination.
• Email ID optional but encouraged to enable online services.
• Venue: Manch Auditorium, 3rd Floor, ZORA THE MALL, NH-6, Raipur 492012.

Financial performance

• Total Income ₹5,966.01m; up about 24.6% YoY.
• Standalone PAT ₹295.27m; down from ₹418.31m.
• Consolidated PAT ₹320.05m; down from ₹440.87m.
• EBITDA ₹654.05m; supported by captive energy.
• EPS Basic: Consolidated ₹9.70; Standalone ₹8.95.
• IPO proceeds ₹1,710m fully utilized; expansions completed.
• Dividends: Board did not declare a dividend for FY2025-26.

Capital structure & liquidity

• Total debt ₹426.38m; debt‑to‑equity 0.10.
• Term loan ₹360m; outstanding ₹339.91m; 7.35%; repay Oct 2026.
• IPO proceeds ₹1,710m fully utilised; no unutilised funds.
• Cash & equivalents ₹3.5m; bank balances ₹53.36m.
• Credit rating reaffirmed: CARE A-; Stable.

Business developments & expansions

• 153,000 MTPA MS Billet plant commissioned; started 27 Mar 2026.
• 15 MW captive solar plant commissioned 18 Dec 2025; 21 MW planned.
• Bilaspur rolling mill for 150,000 MTPA TMT bars planned.
• Greenfield Bastar integrated steel plant; first stage capex ₹450 crore.
• Proposed 21 MW solar expansion; energy security enhancement.
• MS Billet expansion commissioned; production ramp expected in coming year.

Subsidiaries & associates

• Associate: Vraj Metaliks Private Limited; 49.90% holding; net assets ₹380.89m.
• Associate profit share: ₹24.78m; consolidation includes 49.90% share.
• Holding company: Gopal Sponge and Power Private Limited; promoter group.

Governance & risk

• Board: 6 directors; 3 independent; 9 meetings in FY25-26.
• Statutory auditor: Amitabh Agrawal & Co; 5-year term to 2028; no qualifications.
• Secretarial auditor: Nitin Agrawal & Co; no qualifications; name/trademark matters disclosed.
• CFO certification under Regulation 17(8); internal controls affirmed.
• RPT policy on company website; related party transactions disclosed.
• Internal controls deemed adequate; going concern basis maintained.

CSR & ESG

• CSR obligation ₹13.20m; spent ₹9.13m; unspent ₹4.07m to be transferred by 30 Sep 2026.
• CSR sectors: healthcare, education, rural development, environment, space literacy.
• CSR policy and projects disclosed on company website.

Correspondent info & risk notes

• Associate company financials included; Form AOC-1 annexed.
• Auditors: M/s Amitabh Agrawal & Co; no material audit flags.
• Company follows SEBI LODR governance guidelines; BRSR not applicable for top entities.

AGM details

• Date and time: 12 September 2026, 01:00 PM IST
• Mode: Physical at Manch Auditorium, Raipur, Chhattisgarh
• e-voting cut-off: 07 September 2026
• Financial year: 2025-26

Resolutions to be voted

• Ordinary: Adoption of Audited Standalone and Consolidated Financial Statements for year ended 31 March 2026
• Ordinary: Appointment of Prasant Kumar Mohta as director by rotation
• Special: Reappointment of Praveen Somani as Whole-Time Director for five consecutive years
• Special: Ratify remuneration of Cost Auditor for FY 2026-27 (Rs 60,000 plus taxes and expenses)
• Special: Approve material related party transactions for availing promoter guarantees of borrowings; Rs 400 crore

Dividend

• Dividend: No dividend proposed for FY 2025-26

Directors / KMP updates

• Prasant Mohta to retire by rotation; eligible for reappointment
• Praveen Somani to be reappointed as Whole-Time Director for five years
• Remuneration to be as per policy, subject to Board approval