The Board of Directors of the Company has in its Meeting held today i.e. on Friday, May 29, 2026 inter alia considered and approved the following: 1. Audited Standalone and Consolidated ....
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Inducto Steel Limited reported a strong turnaround for FY26 with profit before tax of ₹72.20 lakhs versus a loss of ₹468.07 lakhs in FY25. Revenue grew marginally to ₹16,570.97 lakhs (up 4.5% from ₹15,856.71 lakhs). PAT came in at ₹53.64 lakhs versus loss of ₹371.86 lakhs. Cash position improved dramatically to ₹2,122.36 lakhs from ₹31.44 lakhs, though inventories surged to ₹6,896.62 lakhs (from ₹1,362.77 lakhs) and trade payables jumped to ₹8,716.90 lakhs. The statutory auditor issued an unmodified (clean) opinion, but drew emphasis to ₹20.94 crores (14.76% of total assets) invested in partnership firms where ₹20.51 crores was used for joint venture advances that have neither materialized nor been recovered, plus partner withdrawals. Cost auditor Kewlani & Associates and internal auditor Mr. Satish Diwate were appointed for FY27.
Positive turnaround from losses to profitability with clean audit opinion. However, the significant emphasis of matter on partnership firm investments representing 14.76% of assets raises concerns about recoverability of ₹20.51 crores in joint venture advances.