Scan Steels Ltd — Important, 05-02-2026: Company Update

Scan Steels has announced a board meeting where it approved the financial results for the third quarter and nine months ended December 31, 2025. Consolidated Q3 revenue was 191.64 Cr with a net profit of 3.48 Cr. For the nine months, consolidated revenue reached 556.60 Cr and net profit was 14.17 Cr. The company also announced a joint acquisition of Bindals Sponge Industries Limited, a non-operational steel unit, in a 50:50 consortium. Scan Steels will contribute 20 Cr in equity and gain exclusive management control, aiming to revive Bindals Sponge's 350 TPD DRI kiln and 12 MW power plant. Production is anticipated from Q4 FY2026-27.