Inducto Steel News

Inducto Steel Reports Quarterly Loss of Rs 74.54 Lakhs for September 2025

Inducto Steel Limited posted a net loss of Rs 74.54 lakhs for the quarter ended September 30, 2025, compared to a loss of Rs 24.76 lakhs in the previous quarter. The company's board approved unaudited standalone and consolidated financial results, with auditors highlighting concerns about Rs 21.26 crores invested in partnership firms that face recoverability risks.

Inducto Steel Limited's Statutory Auditors LLB & Co. Resign Due to Pre-occupation with Other Assignments

LLB & Co., Chartered Accountants resigned as Joint Statutory Auditors of Inducto Steel Limited effective August 13, 2025. The auditing firm cited pre-occupation with other assignments as the reason for their resignation. LLB & Co. was appointed as Joint Statutory Auditor for five consecutive financial years from April 1, 2024 to March 31, 2029, with their appointment beginning on July 9, 2024. Their latest work included the Limited Review Report for the quarter ended June 30, 2025. The auditors confirmed there are no other material reasons for their resignation beyond those stated and declared that no concerns were raised with the Audit Committee or Board of Directors prior to resignation.

Inducto Steel Limited Reports Net Loss of Rs 24.76 Lakhs in Q1 FY26

Inducto Steel Limited reported a net loss of Rs 24.76 lakhs for the quarter ended June 30, 2025, compared to a loss of Rs 91.76 lakhs in the same period last year. Revenue from operations increased to Rs 4,585.32 lakhs from Rs 3,864.72 lakhs year-on-year. The company's earnings per share stood at negative Rs 0.62. The Mumbai segment generated revenue of Rs 4,554.85 lakhs while Bhavnagar contributed Rs 46.75 lakhs. Auditors highlighted concerns about the company's investments in two partnership firms totaling Rs 29.21 crores, representing 42.83% of total assets, noting recoverability risks that could significantly impact the financial position.