Proceeding of the Annual General Meeting held today at 12:30 PM
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Ashirwad Steels & Industries held its 39th AGM on 10 July 2025 via video conferencing, concluding in just 20 minutes (12:30 PM to 12:50 PM). The company reported total income of Rs 429.94 lacs for FY25, slightly down from Rs 439.94 lacs last year, with operating income rising to Rs 180.45 lacs (from Rs 158.52 lacs) but other income (mainly interest on bank FDs) falling to Rs 249.49 lacs. Post-tax profit stood at Rs 227.13 lacs vs Rs 246.82 lacs previously. Investments grew to Rs 3622.15 lacs and loans disbursed rose to Rs 960 lacs (from Rs 535 lacs). The LPG Bottling Plant at Raigarh remains shut as it is not economically viable, and no buyer has been found despite past postal ballot approval to sell it. The company continues its business of investing in shares/securities and lending, but has not been able to start any new viable industrial or trading business.
The results show a mild dip in profitability but growth in the investment and lending book, signaling a continued shift away from industrial operations. Shareholders should watch for the voting results on the four resolutions and any further update on the disposal of the Raigarh LPG plant, as these could influence the stock direction.