Outcome of Board Meeting
SCANSTL · price
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The Board of Scan Steels approved unaudited standalone and consolidated results for Q1 FY26 (quarter ended June 30, 2025). Standalone total income was nearly flat at ₹232.05 crore versus ₹235.34 crore in Q1 FY25, but net profit fell sharply to ₹10.04 crore from ₹14.57 crore, a drop of about 31%, driven mainly by a steep rise in raw material costs (₹157.19 crore vs ₹126.01 crore). Consolidated net profit also slipped to ₹10.50 crore from ₹14.59 crore. EPS (standalone) fell to ₹1.71 from ₹2.49. The Board appointed three new Independent Directors (Mr. Jitendriya Mohanty, Ms. P. Monalisha, Mrs. Sushama Yadav) and re-appointed Whole-time Director Mr. Ankur Madaan for three years from May 2026. Three existing Independent Directors (Mr. Gagan Jalan, Mr. Punit Kedia, Mrs. Konika Poddar) resigned citing personal reasons. Statutory auditors Das Pattnaik & Co issued a clean limited review report with no qualifications.
Profitability has weakened meaningfully despite steady top-line, with EBITDA margin visibly compressed by higher input costs — a near-term negative signal for shareholders. The simultaneous exit of three independent directors and induction of three new ones indicates a significant board reshuffle, though the reasons given are personal and no governance red flags were raised in the auditor's review.