Vedanta Iron And Steel Ltd

Vedanta Iron And Steel Limited (VISL) announced that its subsidiary, ESL Steel Limited (ESL), has received an intimation from the Central Goods and Services Tax (CGST) department in Ranchi. The department has proposed a tax liability of ₹39,58,32,544, including IGST, CGST, SGST, and Cess, along with interest and penalties. This demand is related to the alleged short reversal of Input Tax Credit (ITC) during the financial years 2020-21 to 2022-23. ESL is currently reviewing the intimation and plans to take appropriate legal steps. The company does not anticipate any significant financial or operational impact from this notice.

ESL Steel Limited, a subsidiary of Vedanta Iron And Steel Limited, has received an intimation from the Central Goods and Services Tax, Ranchi, alleging short payment of GST under Reverse Charge Mechanism (RCM) for FY 2020-21 to FY 2022-23. The proposed tax liability is ₹15,74,26,450, including IGST, CGST, and SGST, along with applicable interest and penalty. ESL is reviewing the intimation and will take appropriate legal steps. The company does not anticipate any significant financial or operational impact.

Vedanta Iron And Steel Limited (VISL) subsidiary, ESL Steel Limited, has received an intimation from the Central Goods and Services Tax & Central Excise, Ranchi, regarding alleged excess availment and utilization of Input Tax Credit (ITC) on imports. The alleged contravention pertains to the period FY 2020-21 to FY 2022-23, with a total disputed ITC amount of ₹51,23,19,275. ESL is currently examining the notice and will take appropriate legal steps. The company states that this matter will not have a significant financial or operational impact.

ESL Steel Limited, a subsidiary of Vedanta Iron And Steel Limited (VISL), has received a Show Cause Notice from the Registrar of Companies, Ranchi, concerning alleged non-compliance under Section 197(15) of the Companies Act, 2013. The notice relates to the alleged non-disclosure of remuneration ratios of directors to median employee remuneration for FY 2018-19. ESL is reviewing the matter and will submit a response within the stipulated timelines. The company stated that this notice is not expected to have a significant financial or operational impact.

Vedanta Iron And Steel Ltd has updated its Corporate Identification Number (CIN) from U24109MH2023PLC411777 to L24109MH2023PLC411777. This change, effective from June 15, 2026, coincides with the listing of its equity shares and the company's status on the Ministry of Corporate Affairs (MCA) portal has been updated from 'Unlisted' to 'Listed'. The company's authorized capital stands at ₹74,12,01,00,000 and paid-up capital at ₹3,91,06,86,689. The updated information is available on the MCA website.

ESL Steel Limited, a subsidiary of Vedanta Iron And Steel Limited (VISL), has received multiple Show Cause Notices (SCNs) from the Registrar of Companies, Ranchi, concerning alleged non-compliance with various sections of the Companies Act, 2013. The notices relate to matters such as appointment of Key Managerial Personnel without remuneration details, composition of the Nomination & Remuneration Committee, approval of Whole-time Director remuneration, and disclosures regarding director remuneration. ESL is reviewing the notices and will submit responses within the stipulated timelines. The company states these issues are not expected to have a significant financial or operational impact.

Vedanta Iron And Steel Limited (VISL) announced robust consolidated results for the first quarter ended June 30, 2026. Revenue surged 18% year-on-year to ₹3,662 crore, driven by volume and margin growth. EBITDA jumped 54% YoY to ₹515 crore, with margins improving by 322 basis points to 14%. The company reported a Profit After Tax (PAT) of ₹121 crore, a significant turnaround from a net loss of ₹145 crore in the same quarter last year. Key operational highlights include record quarterly pig iron production and increased iron ore and saleable steel production. The company also improved its Net Debt/EBITDA ratio to 1.3x.

Vedanta Iron And Steel Ltd's Board of Directors, on July 29, 2026, approved the formulation and implementation of the Vedanta Iron And Steel Limited Employee Stock Option Plan 2026 (VISL ESOP 2026) and the Vedanta Iron And Steel Limited Employee Stock Purchase Plan 2026 (VISL ESPP 2026). These plans are designed to grant options to eligible employees of the company and its subsidiaries, covering up to 5% of the total paid-up share capital. The implementation will be through the VISL ESOS Trust, acquiring shares via secondary acquisition from the open market. The ESOP 2026 allows for up to 16,62,04,184 shares (4.25% of paid-up capital) with an exercise price at face value (₹1), while the ESPP 2026 allows for up to 2,93,30,150 shares (0.75% of paid-up capital). Both plans are subject to shareholder approval and comply with SEBI (SBEB) Regulations.

Vedanta Iron And Steel Limited announced its unaudited consolidated and standalone financial results for the first quarter ended June 30, 2026. The Board of Directors approved these results during a meeting held on July 29, 2026. The company also submitted a Limited Review Report from its statutory auditors, M/s S.R. Batliboi & Co. LLP, which provided an unmodified opinion on the financial results. The results will be available on the company's website.

Vedanta Iron And Steel Limited announced its unaudited consolidated and standalone financial results for the first quarter ended June 30, 2026. The Board of Directors approved these results during a meeting held on July 29, 2026. The company also provided the Limited Review Report from its statutory auditors, M/s S.R. Batliboi & Co. LLP, which expressed an unmodified opinion. The financial results will be available on the company's website.