This filing is part of the company’s quarterly result. Read the full results article, with every figure explained →
Zenith Steel Pipes & Industries Limited has informed the Exchange regarding Board meeting held on August 13, 2025.
ZENITHSTL · price
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On the reaction day the stock moved 2.0 pts more than Nifty Microcap 250 and 1.9 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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Zenith Steel Pipes & Industries reported Q1 FY26 (quarter ended June 30, 2025) results alongside a board meeting outcome. Revenue from operations fell sharply to Rs 1,891.87 lakhs from Rs 2,850.47 lakhs in Q1 FY25, a drop of about 33.6%. The company swung to a profit of Rs 95.65 lakhs (EPS Rs 0.07) from a loss of Rs 191.74 lakhs a year ago, but this was largely driven by a one-time provision write-back of Rs 622.17 lakhs booked under 'Other Income' rather than core operations. The board appointed M/s. Varun Kabra & Associates as new Secretarial Auditor for five years (FY26–FY30), replacing the resigning M/s. Anil Somani & Associates, and adopted updated insider-trading and fair disclosure codes. The statutory auditor issued a qualified conclusion on the results, flagging a fully eroded net worth (negative reserves of ~Rs 39,268 lakhs standalone), pending balance confirmations, unreconciled bank accounts, and unresolved legal/tax disputes including a Rs 19,319 lakh bank recovery case before the DRT Pune and an ongoing SEBI Supreme Court appeal.
The results are likely negative for shareholders: revenue is sharply down, profitability is inflated by a non-recurring write-back, net worth is fully eroded (going concern doubt), and the auditor has qualified the review. However, the TREPL MoU covering Rs 16,885 lakhs of bank debt could be a positive catalyst if it leads to a one-time settlement. The stock may remain under pressure until the DRT and SEBI matters are resolved.
| Q1 FY26 | Q1 FY25 | Change | |
|---|---|---|---|
| Revenue | ₹18.92 Cr | ₹28.50 Cr | −33.6% |
| Operating profit | −₹5.55 Cr | −₹3.75 Cr | loss widened |
| Profit after tax | ₹0.96 Cr | −₹1.92 Cr | turned positive |
| EBITDA margin | -23.5% | -9.3% | −14.2 pp |
From the company's XBRL filing, not from the text above. Operating profit = profit before tax − exceptional items − other income. EBITDA = profit before tax + finance costs + depreciation − other income.