Outcome of Board Meeting dated 11th August 2025
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Modern Steels Ltd's Board, at its meeting on 11 August 2025, approved the standalone unaudited financial results for Q1 FY26 (quarter ended 30 June 2025). The company reported Other Income of Rs 47 lakh, up sharply from Rs 22 lakh in Q1 FY25, and swung to a net profit of Rs 23 lakh compared with a Rs 3 lakh loss in the same quarter last year. Basic and diluted EPS stood at Rs 0.16 versus Rs (0.02) earlier. Notably, the company has no manufacturing operations as it had earlier sold its Mandi Gobindgarh plant under a slump sale, and results were prepared on a going concern basis with the management planning to restart commercial activity. Statutory auditors APT & Co LLP issued an unmodified limited review report. The Board also appointed CS Ananya Modi as Company Secretary and Compliance Officer effective 1 August 2025.
The profit turnaround from a loss to a Rs 23 lakh profit is encouraging, but income remains thin and comes only from commission activity since the core steel business was sold. Shareholders should note the going concern reliance on future business plans and watch for any update on the restart of commercial operations, which would be the key driver of value.