Outcome of the Board Meeting held on 28th May, 2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 10.3 pts more than Nifty Microcap 250 and 10.6 pts more than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The Board approved audited financial results for FY ended 31 March 2025 and unaudited results for Q4 FY25, with the statutory auditor (Walker Chandiok & Co LLP) issuing an unmodified (clean) opinion. Revenue from operations grew about 8.7% YoY to Rs. 200.07 crores for the full year, while net profit stood at Rs. 33.38 crores compared to Rs. 35.54 crores in the previous year, a marginal decline. The Board recommended a final dividend of Rs. 35 per share (350% on face value of Rs. 10), a notable jump from Rs. 25 per share (250%) declared last year. The cost outlay for the Dharwad plant capacity expansion has been revised upward to Rs. 85 crores, to be funded equally through internal accruals and bank borrowings, with completion expected in H2 of FY 2026-27. The Board also appointed M/s Dhananjay V Joshi & Associates as Cost Auditors for FY 2025-26 and M/s Naithani and Shetty Associates as Secretarial Auditors for a five-year term.
Shareholders benefit from a sharply higher dividend (350% vs 250% previously), signalling management confidence despite a slight dip in full-year profits. The Rs. 85 crore capacity expansion, partly debt-funded, signals growth ambitions but will modestly increase leverage. Overall, results are mixed with revenue growth but compressed margins, and the stock may react positively to the dividend news.