The Board of Directors of the Company at its Board Meeting held today i.e., Thursday, February 05, 2026, inter-alia has considered, approved and transacted the following business: 1. Un-audited ....
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The Board approved unaudited standalone and consolidated financial results for Q3 FY26 and nine months ended December 31, 2025. Standalone Q3 revenue grew ~10% YoY to Rs. 191.64 crore, with net profit rising ~10.6% YoY to Rs. 3.10 crore (EPS Rs. 0.59 vs Rs. 0.48). However, for the nine-month period, standalone net profit declined ~19.5% YoY to Rs. 12.89 crore despite a marginal 1.6% rise in revenue. Separately, the Board approved acquiring equity in Bindals Sponge Industries Ltd under an NCLT-approved resolution plan, forming a 50:50 consortium with Kalinga Allied Industries India Pvt Ltd. Scan Steels will contribute Rs. 20 crore as equity, with total project cost estimated at Rs. 180 crore (50:50 share). Bindals has had zero turnover since 2018 under CIRP and is expected to start production from Q4 FY27 after renovation. The auditor flagged an Emphasis of Matter on the new Labour Codes notified in November 2025, whose financial impact is yet to be assessed.
Q3 performance shows recovery with double-digit revenue and profit growth, though the nine-month picture remains weak due to earlier quarters. The Bindals acquisition is a meaningful capital commitment (~Rs. 90 crore+ share) into a turnaround asset with execution risk; investors should monitor ramp-up timelines and the financial impact of new Labour Codes.