Submission of outcome of Board Meeting held on 5th May, 2026.
GALLANTT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Gallantt Ispat Limited's Board approved audited standalone financial results for FY2026 ending March 31, 2026. Revenue from operations grew to Rs. 4,41,892.19 lakhs from Rs. 4,29,272.89 lakhs (3% increase). Net profit improved significantly to Rs. 48,427.31 lakhs from Rs. 40,074.24 lakhs, representing 20.8% growth. EPS increased from Rs. 16.61 to Rs. 20.07. The Board recommended a final dividend of Rs. 2 per share (20%), though promoter shareholders voluntarily waived their right to receive it to retain funds for expansion. Two independent directors (Mrs. Smita Modi and Mr. Pankaj Khanna) resigned citing work pressure, while two new independent directors (Mr. Sanjay Kumar Jain and Mr. Kishore Pariyar) were appointed. Statutory auditors Maroti & Associates issued an unmodified opinion on the financial results. The auditor's report includes an Emphasis of Matter regarding an Income Tax Department search conducted on April 26, 2023, with assessments reopened under Section 147/148 of the Income Tax Act, though no dispute or demand arose.
The strong 20.8% PAT growth and clean audit opinion with unmodified report are positive signals for shareholders. The promoter dividend waiver suggests confidence in the company's expansion plans, though the resignation of two independent directors raises some governance concerns. Revenue growth of 3% is modest but profitability improvements are notable.