27th AGM proceedings: new Statutory Auditor and Secretarial Auditor appointed for 5-year terms

At the 27th AGM held on September 30, 2026 (11:00 a.m. to 11:56 a.m., via video conferencing), all resolutions were passed with requisite majority.

Wed 30 Sep 2026

AGM Date

September 30, 2026

Statutory Auditor Appointed

M/s. Shivam Soni & Co., Chartered Accountants from October 01, 2026 for 5 consecutive years

Secretarial Auditor Appointed

M/s. Murtuza Mandorwala & Associates, Practicing Company Secretary from October 01, 2026 for 5 consecutive years

Director Re-appointed

Ms. Mona Viral Shah re-appointed as Director (retiring by rotation)

Meeting Duration

11:00 a.m. to 11:56 a.m. via video conferencing

What happened

The company informed the exchanges about the proceedings of its 27th Annual General Meeting, held on Wednesday, September 30, 2026 through Video Conferencing / Other Audio Visual Means, with the registered office at Kukarwada, Gujarat as the deemed venue. The meeting began at 11:00 a.m. and concluded at 11:56 a.m. E-voting was kept open for 30 minutes after the meeting closed.

Resolutions passed

• Adoption of audited standalone and consolidated financial statements for the financial year ended 31st March, 2026, with the Board's and Auditors' reports.
• Re-appointment of Ms. Mona Viral Shah, who retired by rotation as a Director.
• Appointment of M/s. Shivam Soni & Co., Chartered Accountants as Statutory Auditors.
• Ratification of the remuneration of Cost Auditors for the financial year ending on 31st March, 2027.
• Appointment of M/s Murtuza Mandorwala & Associates, Practicing Company Secretary, as Secretarial Auditors for a first term of five consecutive years.

All of the above were recorded as passed with requisite majority, based on the Scrutinizer's Report.

Statutory Auditor change

M/s. Shivam Soni & Co., Chartered Accountants, Ahmedabad, are appointed with effect from October 01, 2026 for a term of 5 consecutive years (F.Y. 2026-27 to F.Y. 2030-31), running from the conclusion of the 27th AGM to the conclusion of the 32nd AGM to be held in financial year 2031-2032. The reason given is completion of the term of the earlier auditors, M/s. Ashok Dhariwal & Co., Chartered Accountants. The firm is described as peer reviewed, with experience as statutory auditor of listed companies on the BSE Main Board and SME Board, and exposure to IndAS advisory, IPO-related compliances, internal audits, valuation, IFC, transaction audits and forensic audit.

Secretarial Auditor change

M/s. Murtuza Mandorwala & Associates, Practicing Company Secretary, Ahmedabad, are appointed with effect from October 01, 2026 for a term of 5 consecutive years (F.Y. 2026-27 to F.Y. 2030-31), up to the conclusion of the 32nd AGM. This follows the expiry of the term of M/s. Mehul Raval & Associates, Practicing Company Secretary. The firm is a peer reviewed practising company secretary firm registered with ICSI, with expertise in company law, capital market and securities laws, LLP, RBI compliances and corporate governance. The same firm also acted as Scrutinizer for the AGM e-voting.

Other points from the meeting

Mrs. Mona Viral Shah, Chairperson and Director, chaired the meeting. Directors, Key Managerial Personnel including the CFO Mr. Narendra Sharma and COO Mr. Shashikant Mesariya, and representatives of the statutory, cost and secretarial auditors and the scrutinizer attended. Mr. Viral Shah spoke on the global market situation, the Indian steel industry, the company's performance, and the Capital Restructuring and Strategic Growth Initiatives taken during the year. Members who had registered to speak were given an opportunity to ask questions.

How to read it

These are routine annual housekeeping items. The auditor changes arise from terms ending rather than from any resignation, and the appointments carry fixed five-year tenures. Investors typically watch such updates for the continuity of audit oversight and confirmation that annual accounts have been adopted by shareholders.

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