Outcome of Board Meeting - Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations')
SCANSTL · price
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The Board of Scan Steels approved unaudited standalone and consolidated financial results for Q1 FY26 (quarter ended June 30, 2025). Standalone total income came in at Rs 23,205 lakhs, broadly flat versus Rs 23,534 lakhs in Q1 FY25. Profit before tax was Rs 1,343 lakhs, while net profit after tax (PAT) stood at Rs 1,004 lakhs versus Rs 1,457 lakhs in the year-ago quarter — a YoY decline of about 31%. Basic EPS was Rs 1.71 (vs Rs 2.78 earlier). On a QoQ basis, profit recovered strongly from Rs 358 lakhs in Q4 FY25. The Board also accepted the resignations of three independent directors — Mr. Gagan Jalan, Mr. Punit Kedia and Mrs. Konika Poddar (citing personal reasons) — and simultaneously appointed three new independent directors, including two women directors. Mr. Ankur Madaan was re-appointed as Whole-time Director for three years from May 2026. Cost Auditor for FY26 and a new Secretarial Auditor for a 5-year term were also appointed.
Numbers are mixed for shareholders: top line is steady but YoY profitability has slipped by roughly a third, which may weigh on sentiment. However, the QoQ rebound and an orderly board refresh with required independent directors in place should limit governance concerns.