Gallantt Ispat Ltd

Gallantt Ispat Ltd has been declared the "Preferred Bidder" for the Dongrital-ll coal block in Madhya Pradesh by The Madhya Pradesh State Mining Corporation Limited (MPSMC). The company won the bid with a revenue share of 6.5%. This development marks Gallantt Ispat's entry into commercial coal mining. The company is currently evaluating the next steps for the development of the coal block and will provide further updates on material developments.

Gallantt Ispat Limited has issued a revised press release for its financial results for the quarter ended June 30, 2026. The company reported Revenue from Operations of ₹1146 Cr, a 2% YoY increase from ₹1128 Cr in Q1 FY26, but a 5% QoQ decrease from ₹1205 Cr in Q4 FY26. EBITDA stood at ₹203 Cr with an 18% margin, down from ₹254 Cr (23% margin) in Q1 FY26. Profit After Tax (PAT) was ₹124 Cr with an 11% margin, a decrease from ₹174 Cr (15% margin) in the prior year quarter. The company cited softer steel realisations, a planned pellet plant shutdown, and increased input costs due to geopolitical tensions as factors affecting performance. Despite these challenges, the company highlighted its integrated model, steady TMT bar volumes, and progress on its ₹3000 Cr expansion project, which remains on track for H2 FY27.

Gallantt Ispat Limited announced its unaudited financial results for the quarter ended June 30, 2026. Revenue from operations stood at ₹1146 Cr, a 2% increase year-on-year from ₹1128 Cr in Q1 FY26, but a 4.8% decrease quarter-on-quarter from ₹1205 Cr in Q4 FY26. EBITDA for the quarter was ₹203 Cr, with an EBITDA margin of 18%, down from 23% in Q1 FY26. Profit After Tax (PAT) was ₹124 Cr, a 29% decrease from ₹178 Cr in Q1 FY26, resulting in a PAT margin of 11%. The company cited softer steel realisations and a planned shutdown of its pellet plant for maintenance as reasons for the performance, partly offset by cost advantages and backward integration benefits. Production volumes were impacted by the pellet plant shutdown, though TMT bar volumes remained steady. The company's ₹3000 Cr expansion project remains on track for H2 FY27.

Gallantt Ispat Ltd announced the appointment of Mr. Amit Jalan as the new Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective July 27, 2026. The decision was approved by the Board of Directors following a recommendation from the Nomination and Remuneration Committee. Mr. Jalan, who has over 25 years of experience in finance management, corporate planning, and audit, is already associated with the company as Chief Accounts Officer (CAO). His appointment aligns with SEBI LODR Regulations and the Companies Act, 2013.

Gallantt Ispat Ltd announced that its Board of Directors, at a meeting on July 27, 2026, approved the resignation of M/s. Maroti & Associates as Statutory Auditors. M/s. Singhi & Co. has been appointed to fill the casual vacancy until the next annual general meeting. The outgoing auditor cited increased audit complexity, resource allocation, and professional commitments as reasons for their resignation. Additionally, Mr. Amit Jalan has been appointed as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the company, effective from July 27, 2026.

Gallantt Ispat Ltd has informed the stock exchanges about the appointment of M/s. Singhi & Co., Chartered Accountants, as its new Statutory Auditor. This appointment, approved by the Board of Directors on July 27, 2026, is to fill a casual vacancy caused by the resignation of M/s. Maroti & Associates. M/s. Singhi & Co. will hold office until the upcoming Annual General Meeting (AGM). The firm is a well-established assurance and advisory firm with a strong pan-India presence and extensive expertise in statutory audits, risk-based approaches, and financial reporting.

Gallantt Ispat Ltd announced the resignation of its Statutory Auditors, M/s. Maroti & Associates, Chartered Accountants (Firm Registration No. 322770E). The resignation was accepted by the Board of Directors on July 27, 2026, based on the recommendation of the Audit Committee. The auditors cited inability to continue due to resource allocation, professional commitments, and commercial considerations. They have completed their audit for the financial year ended March 31, 2026, and will issue a limited review report for the quarter ended June 30, 2026. The Audit Committee noted no concerns or issues raised by the auditors.

Gallantt Ispat Ltd's Board of Directors, at their meeting on July 27, 2026, approved the Standalone and Consolidated Unaudited Financial Results for the quarter ended June 30, 2026. Additionally, the Board accepted the resignation of M/s. Maroti & Associates as Statutory Auditors, effective after their limited review report for Q1 FY27. M/s. Maroti & Associates cited inability to continue, with no concerns raised. The Board then approved the appointment of M/s. Singhi & Co. as the new Statutory Auditors, subject to approval by members at the upcoming Annual General Meeting.

Gallantt Ispat Ltd announced its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The Board of Directors approved these results along with the limited review report from statutory auditors. The company also informed about the resignation of M/s. Maroti & Associates as statutory auditors and the proposed appointment of M/s. Singhi & Co. as their replacement, subject to member approval at the upcoming AGM. The full financial results will be available on the company's website and stock exchange portals.

Gallantt Ispat Ltd has announced that its Board of Directors will convene on July 27, 2026. The primary agenda item is to consider and approve the Unaudited Financial Results for the quarter ended June 30, 2026, along with the Statutory Auditor's Limited Review Report. Additionally, the board will discuss a proposal for changing the company's Statutory Auditors. The trading window for designated persons will remain closed until July 29, 2026, in accordance with the company's insider trading code.