The Board of Directors of the Company at their meeting held on Saturday, February 14, 2026, inter alia, considered & approved Unaudited Financial Results of the Company for the third quarter ....
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The Board of Steelco Gujarat approved unaudited financial results for Q3 and nine months ended 31 December 2025. The company reported a net loss of Rs. 870.41 lakhs in Q3 FY26, wider than the Rs. 638.02 lakh loss in Q3 FY25. For nine months FY26, the loss stood at Rs. 2,121.64 lakhs, already exceeding the full-year FY25 loss of Rs. 2,053.78 lakhs. Basic EPS for 9M FY26 was Rs. (42.72). The auditor M Sahu & Co. issued an unmodified review report. The Board also appointed Mr. Subir Kumar Chowdhury as Independent Director (3-year term) and Mr. Deepak Sharma as Executive Director (2-year term). During the quarter, the company raised Rs. 160 crore via secured NCDs (partly paid Rs. 140 crore) carrying a steep 21.90% per annum IRR, with subscription completed in January 2026.
Widening losses and a high-cost debt raise (21.90% IRR NCDs) signal financial stress and may weigh on the stock; shareholders should watch for further clarity on revenue recovery and capital structure.