Bihar Sponge Iron News

Bihar Sponge Iron Board Meet Set for Feb 10, 2026

Bihar Sponge Iron Limited schedules board meeting on February 10, 2026, to review Q3FY26 unaudited financial results. Trading window closes for insiders until 48 hours post-declaration.

Bihar Sponge Iron publishes share transfer notice

Bihar Sponge Iron Limited published a notice in newspapers regarding one share transfer deed received under special window period for 100 shares, complying with SEBI listing regulations.

Bihar Sponge Iron Reports Profit of Rs 386.48 Lakhs in Q2, Plans Rs 118.90 Crore Waste Heat Recovery Plant

Bihar Sponge Iron Limited reported a net profit of Rs 386.48 lakhs for the quarter ended September 30, 2025, compared to Rs 514.67 lakhs in the same period last year. Sales for the quarter stood at Rs 7,316.73 lakhs versus Rs 8,856.33 lakhs in the previous quarter. The company announced plans to install a Waste Heat Recovery Plant with a total capital expenditure of Rs 118.90 crores and is approaching the Government of Jharkhand for project financing. The company faces ongoing legal challenges including a dismissed appeal regarding a Rs 215.28 lakhs penalty from South East Coalfields Ltd for coal quantity shortfall. The auditors issued a qualified review report citing concerns about unprovided penalties and loan settlement matters with promoter companies.

Bihar Sponge Iron's Writ Petition Against SECL Coal Penalty Dismissed by Chhattisgarh High Court

Bihar Sponge Iron Limited's writ petition against South Eastern Coal Fields Ltd. (SECL) has been dismissed by the Chhattisgarh High Court. The dispute involves a penalty of Rs. 215.28 lacs imposed by SECL for short lifting of coal quantity under a Fuel Supply Agreement from FY 2011-12. The High Court had previously directed both parties to appear before SECL's General Manager on April 21, 2025, to reach a mutual settlement within 60 days. However, after a meeting at SECL's office failed to address the company's concerns, Bihar Sponge Iron filed a new writ petition (WPC/24721 of 2025), which was dismissed on October 27, 2025. The company states there will be no material financial impact considering the size of its operations and is consulting legal advisors for appropriate legal recourse.