Vraj Iron And Steel Ltd

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

Associate loan details

• Loan amount Rs 11.30 crore from associate Vraj Metaliks Private Limited.
• Unsecured loan; interest 9% per annum; repayment on demand; no security pledged.
• Purpose: general corporate purposes; terms deemed not prejudicial to the lender or company.
• Related party transaction; lender is associate; terms at arm's length.
• Date of execution: August 13, 2026; outstanding balance: Nil.

Publication of Q1 FY27 results

• Unaudited Q1 FY27 extracts published in Business Standard (English) and Swadesh (Hindi) on Aug 13, 2026.
• Extracts include a QR code.
• Extracts are uploaded on the company's website.

Financial highlights

• Standalone revenue from operations ₹1,938.29 mn; total income ₹1,954.11 mn.
• Standalone total expenses ₹1,824.08 mn; PBT ₹130.09 mn; PAT ₹97.30 mn; EPS ₹2.95.
• Consolidated revenue from operations ₹1,938.29 mn; total income ₹1,954.11 mn; PAT ₹115.12 mn; EPS ₹3.49.
• Auditors gave unmodified review; standalone and consolidated results prepared per IND AS 34.
• Single reportable segment; segment reporting not required.
• Results for quarter ended 30 Jun 2026 reviewed Aug 12, 2026; balancing figures with Mar 31, 2026 numbers.

AGM & director actions

• 22nd AGM to be held on Sep 12, 2026 in physical mode.
• Prasant Kumar Mohta reappointed as director; retire by rotation at AGM.
• Praveen Somani reappointed as Whole-Time Director for five years from Sep 7, 2026; subject to shareholders' approval.

Compliance notes

• Interim results prepared under IND AS 34; nine months ended Mar 31, 2026 regrouped where needed.
• Associates consolidated under equity method; list includes Vraj Metaliks Pvt Ltd.
• Results pertain to a single reportable segment; detailed segment reporting not required.

Expansion plan and approvals

• Board approves takeover of Greenfield land at Village-Chapka, Bastar, from promoter IWs Gopal Sponge and Power Private Limited.
• Transfer to Vraj Iron and Steel Limited subject to MOEFCC or other regulatory permissions.
• Approved setting up Greenfield Integrated Steel Plant at Chapka, Bastar.
• First stage capacities: Sponge Iron 201,000 TPA; MS Billet 201,000 TPA; WHRB 15 MW; CFBC 15 MW.
• Estimated Phase I capex Rs 450 crore including GST.
• Funding through internal accruals, equity infusion, and debt.
• Expected to commission within 30 months from ground-breaking ceremony.
• Rationale based on Bastar policy offering exemptions and subsidies.
• Site advantages include proximity to iron ore, lower logistics, and growing demand.

• Regulation 74(5) not applicable; all shares are held in demat form.
• No rematerialisation requests received for the quarter ended 30 June 2026.
• Consequently, no processing of such requests was required.