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

Scan Steels has announced a board meeting was held to approve its financial results for the third quarter and nine months. Consolidated revenue for the quarter reached Rs 191.64 Cr with a net profit of Rs 3.48 Cr. For the nine-month period, consolidated revenue stood at Rs 556.60 Cr, and net profit was Rs 14.17 Cr. The company also announced a consortium acquisition of Bindals Sponge Industries Limited under an NCLT plan, a steel manufacturer with nil turnover since 2018. The revival project, with an estimated cost of Rs 60 Cr, will see Scan Steels contributing Rs 20 Cr towards equity and gaining exclusive operational control. Production is expected after renovation.