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

Scan Steels announced a board meeting, approving the financial results for the quarter and nine months ended December 31, 2025. Consolidated revenue reached 191.64 Cr for the quarter and 556.60 Cr for nine months, with consolidated net profit at 3.48 Cr and 14.17 Cr respectively. The company also disclosed a strategic 50:50 consortium with Kalinga Allied Industries to acquire Bindals Sponge Industries. This NCLT-approved acquisition, initially costing 60 Cr and a total projected investment of 180 Cr, includes a 350 TPD DRI Kiln and a 12MW power plant. Scan Steels will exclusively manage the acquired steel manufacturing unit, enhancing its operational scale.