Rathi Steel & Power MD, chairman, board of directors and AGM
BSE: 504903Industrial ProductsSmall Cap
Share price at the BSE close on 23 Oct 2026. Previous close ₹18.85.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹157 Cr2,467th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. The filing of 13 Aug 2026
- 10.8
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 30 May 2026
- 1.0
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it. The filing of 13 Aug 2026
- 10.1%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 13 Aug 2026
- 11.1%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026. The filing of 30 May 2026
- 0.30
- Volume, BSEVolume. Shares traded on the last trading day.
- 35,678
Rathi Steel & Power board of directors
At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares
- ChairpersonSurbhi Pareek
- Managing directorMahesh Pareek
- Company Secretary and Compliance OfficerNAMITA LAL MADAN
6 directors2 independent3 executive1 non-executive
- Surbhi Pareek · ChairpersonNon-executive · joined Jul 2023 · reappointed May 2025 · 1 listed board · 1 committee seat, 1 as chair
- Abhishek VermaExecutive · joined May 2018 · reappointed Mar 2025 · 1 listed board · 1 committee seat
- Rajesh KhuranaExecutive · joined Mar 2025 · reappointed Mar 2025 · 1 listed board
- Arpan Kumar AtreyIndependent · joined Mar 2025 · reappointed Mar 2025 · 15 months as independent · 1 listed board · 1 as independent · 2 committee seats
- Sonika SharmaIndependent · joined Jul 2023 · reappointed Jul 2023 · 35 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
- Mahesh Pareek · Managing directorExecutive · joined May 2025 · reappointed May 2025 · 1 listed board · 1 committee seat
An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.
2 directors who left
- Prem Narain Varshney, left 9 May 2025: Others
- Sangeeta Pandey, left 29 Mar 2025: Tenure Completion
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 30 May 20264 of 6 present1 independent · 60 days in between
- 30 Mar 20264 of 6 present2 independent · 31 days in between
- 26 Feb 20264 of 6 present2 independent · 12 days in between
- 13 Feb 20266 of 6 present2 independent · 19 days in between
1 earlier meeting
- 24 Jan 20266 of 6 present2 independent
Audit Committee
Chair Sonika Sharma
Arpan Kumar Atrey, Mahesh Pareek
- 30 May 20262 of 3 present1 independent · 105 days in between
- 13 Feb 20263 of 3 present2 independent
Nomination and remuneration committee
Chair Sonika Sharma
Arpan Kumar Atrey, Surbhi Pareek
No meeting listed in the filing.
Stakeholders Relationship Committee
Chair Surbhi Pareek
Arpan Kumar Atrey, Abhishek Verma
- 30 May 20262 of 3 present0 independent
Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.
Statutory auditor
Named in the results for the quarter to Mar 2026.
- M Lal & CoPeer-review certificate valid to May 2029
A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.
Rathi Steel & Power AGM and shareholder votes
Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Rathi Steel & Power dividend history
Annual general meeting, 29 Sep 2026
26,280 shareholders on the register on 22 Sep 2026; present: 4 promoters and 37 others; votes counted by Sameer Kishore Bhatnagar / NA.The company's voting result (opens in a new tab)
- TO RECEIVE, CONSIDER AND ADOPT THE AUDITED FINANCIAL STATEMENTS OF THE COMPANY FOR THE YEAR ENDED MARCH 31, 2026 AND THE REPORTS OF THE AUDITORS AND DIRECTORS THEREON.Ordinary99.96% for0.04% against
Against: promoters 0.00% · institutions 0.00% · other public 6.61%
Turnout: all 38.38% · promoters 89.25% · institutions 14.31% · other public 0.51%
- TO RE-APPOINT MR. ABHISHEK VERMA (DIN: 08104325), EXECUTIVE DIRECTOR (WHOLE TIME DIRECTOR), WHO RETIRES BY ROTATION AND BEING ELIGIBLE, OFFERS HIMSELF FOR RE APPOINTMENT.Ordinary99.96% for0.04% against
Against: promoters 0.00% · institutions 0.00% · other public 6.61%
Turnout: all 38.38% · promoters 89.25% · institutions 14.31% · other public 0.51%
- TO RATIFY THE REMUNERATION OF COST AUDITORS OF THE COMPANY FOR FINANCIAL YEAR 2026-27Ordinary99.96% for0.04% against
Against: promoters 0.00% · institutions 0.00% · other public 6.61%
Turnout: all 38.38% · promoters 89.25% · institutions 14.31% · other public 0.51%
- TO APPROVE ADOPTION OF NEW SET OF MEMORANDUM OF ASSOCIATION OF THE COMPANY AS PER THE PROVISIONS OF THE COMPANIES ACT, 2013.Special99.96% for0.04% against
Against: promoters 0.00% · institutions 0.00% · other public 6.61%
Turnout: all 38.38% · promoters 89.25% · institutions 14.31% · other public 0.51%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Tax disputes
Reported in the filing for the quarter to Jun 2026.
- Tax disputeOffice of the Deputy Commissioner, State GST, Ghaziabad, Uttar PradeshSince 3 Feb 2025There is no change in the status of litigation/dispute as per last disclosure.At the filing before: Company has filed Application before the Allahabad High Court
- Tax disputeOffice of the Additional Commissioner, GST & Central Excise, Rourkela , OdishaSince 25 Feb 2025There is no change in the status of litigation/dispute as per last disclosure.At the filing before: The Company has preferred an appeal before Commissioner (Appeal). Appellate Authority vide its order dated January 6, 2026, dropped the said demand along with the mentioned penalty and interest.
- Tax disputeOffice of the Assistant Commissioner, CGST & Central Excise, Sambalpur Division-1, OdishaSince 25 Feb 2025There is no change in the status of litigation/dispute as per last disclosure.At the filing before: Company has filed Review Application before the appropriate Court
- Tax disputeAssessment Unit, Income Tax Department, Central Circle 31, New DelhiSince 31 Mar 2025There is no change in the status of litigation/dispute as per last disclosure.At the filing before: The Company will pursue rectification of the prima facie errors in the order/approach appropriate authority.
- Tax disputeOffice of the Deputy Commissioner, State Tax, SGST, Sector -11, Ghaziabad (Uttar Pradesh).Since 30 Dec 2025There is no change in the status of litigation/dispute as per last disclosure.
At the filing before: Company has filed a Writ Petition before the HOn'ble Allahabad High Court. The Court vide its order dated February 27, 2026 in respect of Writ Petition has put a stay on recovery proceedings initiated by the Office of the Deputy Commissioner, Ghaziabad, Uttar Pradesh u/s 74 of the GST Act, 2017, for a demand of INR 5,73,33,332/- (Indian Rupees Five Crore Seventy Three Lakh Thirty Three Thousand Three Hundred and Thirty Two Only) along with penalty of similar amount and applicable interest.MoreLess
- Tax disputeAssessment Unit, Income Tax Department, Central Circle 31, New DelhiSince 30 Jan 2026There is no change in the status of litigation/dispute as per last disclosure.
At the filing before: The Company, in consultation with its legal team/consultants is of the opinion that the above tax demands under the above-referred order(s) is not tenable in law. The Company is reviewing the Orders and will be contesting the demands with appropriate authority/forum. Accordingly, there is no impact on financial, operations or other activities of the Company.MoreLess
- Tax disputeOffice of the Deputy Commissioner, State Tax, SGST, Sector -11, Ghaziabad (Uttar Pradesh)Since 30 Mar 2026There is no change in the status of litigation/dispute as per last disclosure.At the filing before: The Company strongly refutes the above and believes that said demand is not maintainable. The Company will explore appropriate legal remedies to contest the same, as may be necessary.
In the company's own words, from its latest governance filing.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
- The board is made up as the listing rules require
- Yes
- The board has a regular chairperson
- Yes
- The company has a risk management committee
- No
- The chair is related to the managing director
- No
- The filing has a part on fines and penalties
- No
- The filing has a part on tax disputes
- Yes
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.
How money raised was used
Reported for the quarter to Jun 2025. The company's results filing for the quarter to Jun 2026 says no statement of how money raised was used applies to it. A preferential issue sells new shares to chosen investors rather than to the public. A warrant or partly paid issue plans the whole issue while the money comes in over time, so the amount set aside can be more than raised so far.
| Raised | Amount raised | For | Set aside | Spent | Spent elsewhere | Reason and comments |
|---|---|---|---|---|---|---|
| Preferential IssuesFeb 2024, checked by ICRA Limited | 221.88 | Payment of Outstanding Liabilities including Debt | 44.00 | 44.00 | No | Audit committee: There is no deviation/variation in the use of funds raised as the funds has been used for the purpose they were raised for by the Company. |
| Preferential IssuesFeb 2024, checked by ICRA Limited | 221.88 | Capital Expenditure | 9.20 | 9.20 | No | Audit committee: There is no deviation/variation in the use of funds raised as the funds has been used for the purpose they were raised for by the Company. |
| Preferential IssuesFeb 2024, checked by ICRA Limited | 221.88 | Working Capital purpose | 61.51 | 61.51 | No | Audit committee: There is no deviation/variation in the use of funds raised as the funds has been used for the purpose they were raised for by the Company. |
| Preferential IssuesFeb 2024, checked by ICRA Limited | 221.88 | Conversion pf RPS into OCRPS & consequently into Equity Shares | 107.16 | 107.16 | No | Audit committee: There is no deviation/variation in the use of funds raised as the funds has been used for the purpose they were raised for by the Company. |