Metals & Mining · NSE: KSL · BSE: 500235
Kalyani Steels: how the business works
Kalyani Steels makes special steel bars that forging companies shape into vehicle and machine parts, earning ₹1,846 crore in FY26.
Kalyani Steels Limited · Pune, Maharashtra · Founded 1973
Last updated · Reviewed by Cityfort Research on
- Revenue, FY26
- ₹1,846 cr
- Net profit, FY26
- ₹255 cr
- Its share of the shared plant's output
- 41.38%
- Founded
- 1973
- Promoter holding, Dec 2025
- 64.70%
01 · The business in one line
What does Kalyani Steels do?
Forging companies buy Kalyani Steels' bars; raw materials take half, and ₹13.4 of every ₹100 that came in is profit.
- Two Kalyani group customers, Bharat Forge and Kalyani Technoforge with its subsidiary, paid 47.6% of FY26 revenue.
- It makes the steel at one Karnataka plant shared with Mukand Ltd, and takes 41.38% of the output.
02 · What it sells
What does Kalyani Steels sell?
Rolled steel bars
Round bars 32–160 mm and round-cornered square bars 45–180 mm. 218,187 tonnes sold for ₹1,566 crore in FY26.
As-cast blooms
Thick steel blocks sold straight from the caster, before rolling. 17,243 tonnes for ₹119 crore in FY26.
Coke
Foundry and blast-furnace coke from its coke ovens. 20,809 tonnes for ₹66.3 crore in FY26.
Traded steel
Steel bought from others and resold. ₹62.3 crore of revenue in FY26.
Think of it like this
Like a flour mill for bakeries: it makes the material, and its customers shape the final part.
What it does
- Does: Turns iron ore and coal into carbon and alloy steel
- Does: Rolls the steel into round and square bars
- Does: Sells coke from its own coke ovens
- Does: Resells some steel bought from others
What it does not do
- Does not: Make the finished parts (its customers forge them)
- Does not: Sell flat steel sheets
- Does not: Own iron ore or coal mines
- Does not: Run its plant alone (a joint venture with Mukand Ltd runs it)
03 · Who pays it
Who pays Kalyani Steels?
Bharat Forge Ltd (Kalyani group)
26%
of revenue
Forging company that buys steel bars for parts. Paid ₹473 crore in FY26.
Kalyani Technoforge Ltd and its subsidiary (Kalyani group)
22%
of revenue
Forging companies that buy steel bars for parts. Paid ₹406 crore in FY26.
All other customers
52%
of revenue
Forging and component makers for vehicles, tractors, engines, bearings, wind turbines, oil and gas, and railways. Not named in filings.
- Bharat Forge Ltd (Kalyani group)26%
- Kalyani Technoforge Ltd and its subsidiary (Kalyani group)22%
- All other customers52%
Customer concentration
Two Kalyani group customers paid 47.6% of FY26 revenue, down from 55.4% in FY23. Sales to all related parties were 48.2% of FY26 revenue. CARE said in Dec 2024 that about 80% of sales go to the auto sector.
- Largest customer
- 26%
Source: Annual Report FY26 (53rd), incl. BRSR FY26; Annual Report FY24 (51st); CARE Ratings press release: CARE AA; Stable / CARE A1+ reaffirmed
04 · How the money flows · FY26
How does money flow through Kalyani Steels?
Money in
- Sales of steel bars, blooms, coke and traded steel₹1,846 cr
- Interest and other income₹56.4 cr
The company
Kalyani Steels
₹1,902 cr came in
Money out
- Raw materials: iron ore, coal, alloys₹959 cr
- Steel bought from others for resale₹58.4 cr
- Plant running costs: power, fuel, spares, repairs₹282 cr
- Staff, other costs and a one-off labour-code charge₹193 cr
- Wear and tear of assets, and interest₹65.7 cr
- Tax₹89 cr
- Net profit₹255 cr
- Customers paid ₹1,846 crore in FY26, mostly for steel bars; interest and other income added ₹56.4 crore.
- Raw materials took ₹959 crore, the largest cost, and steel bought for resale took ₹58.4 crore.
- Running the shared plant (power, fuel, spares, repairs) cost ₹282 crore.
- Staff, other costs, wear and tear, interest and tax took another ₹348 crore.
- What was left, ₹255 crore, was net profit.
05 · Where the money goes · FY26
Where does ₹100 of Kalyani Steels' money go?
Kalyani Steels · FY26
Receipt for every ₹100
| Raw materials | ₹50.4 |
|---|---|
| Steel bought for resale | ₹3.1 |
| Plant running costs | ₹14.8 |
| Staff, other costs and one-off charge | ₹10.2 |
| Wear and tear, and interest | ₹3.4 |
| Tax | ₹4.7 |
| Kept as profit | ₹13.4 |
| Total | ₹100 |
Each line = amount ÷ total money in × 100. Lines may not add to exactly ₹100 because of rounding.
06 · What it needs to run
What does Kalyani Steels need to run?
One shared steel plant
Kalyani Steels and Mukand Ltd share one integrated plant on 375 acres at Ginigera, Karnataka. Kalyani Steels gets 41.38% of the output and pays 41.38% of the costs; Mukand gets the rest.
Hospet Steels runs the plant
A joint venture, Hospet Steels Ltd (49.99% owned by Kalyani Steels), runs the plant with 1,161 employees. Kalyani Steels itself had 120 employees on 31 Mar 2026.
Capacity
The FY26 annual report shows "annual capacity 250,000 MT" without saying whether this is Kalyani Steels' share. CARE put the whole shared facility at about 7 lakh tonnes a year in Dec 2024.
Raw materials
Iron ore, imported coking coal, limestone, dolomite, ferro alloys and scrap. CARE says it has no captive mines and no long-term supply contracts.
Power
A 17 MW power plant plus power from coke-oven waste heat (94 million units in FY26). Renewable sources supplied 29% of power in FY26.
Source: Annual Report FY26 (53rd), incl. BRSR FY26; CARE Ratings press release: CARE AA; Stable / CARE A1+ reaffirmed
07 · Why it makes money
Why does Kalyani Steels make money?
It earns the gap between steel bar prices and raw material costs
Kalyani Steels keeps the gap between what customers pay per tonne and what the ore and coal in it cost. CARE says yearly sales stayed around 2.3–2.5 lakh tonnes from FY14 to FY24. Its operating profit per tonne moved from ₹9,722 in FY23 to ₹14,497 in FY24.
Operating profit per tonne (CARE's PBILDT per tonne)
₹9,722₹14,497
FY23 to FY24
- Buy iron ore and imported coking coal
- Make coke, iron and alloy steel at the shared plant
- Roll the steel into bars and sell to forging companies
- Pass coal cost changes to customers, with a delay (CARE)
- Keep the gap between bar price and raw material cost
↺ Step 5 feeds back into step 1.
Source: CARE Ratings press release: CARE AA; Stable / CARE A1+ reaffirmed
08 · Where it sells · FY26
Where does Kalyani Steels sell?
- India99%
- Outside India (2 countries)1%
09 · Competitors and what protects it
Who does Kalyani Steels compete with?
Mukand Ltd
NSE: MUKANDLTD
Makes alloy steel billets and stainless steel. Kalyani Steels' partner in the Ginigera plant. FY26 group revenue ₹4,890 crore.
Sunflag Iron and Steel Company Ltd
NSE: SUNFLAG
Makes alloy, spring and bearing steel bars and wire rods, mainly for automotive customers. FY26 consolidated revenue ₹3,939 crore.
Vardhman Special Steels Ltd
NSE: VSSL
Ludhiana maker of special steel bars for car, two-wheeler and tractor component makers. FY26 revenue ₹1,754 crore.
JSW Steel Ltd (Salem Works)
NSE: JSWSTEEL
Its Salem Works makes special alloy steel long products for bearings and forgings, supplying domestic vehicle makers.
What protects the business
Each strength is scored 1 (weak) to 5 (strong) for the business, with the reason. It is not a rating of the share.
- Integrated plant3 of 5
One plant turns iron ore and coal into coke, hot metal, steel and finished bars. Kalyani Steels shares it with Mukand and takes 41.38% of the output.
- Anchor customers in its own group3 of 5
CARE says most of the Kalyani group's steel needs are met by Kalyani Steels. Two group forging customers paid 47.6% of FY26 revenue.
- Own coke ovens3 of 5
CARE says coal and coke prices per tonne fell 14% in FY24, mainly because of the coke oven.
- Passing on coal costs2 of 5
CARE says it passes coking-coal price rises to customers, but with a delay that can hurt short-run profit.
Weak spot
Group and auto dependence
Two Kalyani group customers paid 47.6% of FY26 revenue. CARE says about 80% of sales go to the auto sector. It lists weaker group finances or slower payment by group companies as reasons it could lower the rating.
Source: Mukand Ltd: Annual Report FY26 (competitor filing); Sunflag Iron and Steel Company Ltd: Annual Report FY26 (competitor filing); Vardhman Special Steels Ltd: Annual Report FY26 (competitor filing) and 3 more
10 · Where growth could come from
Where could Kalyani Steels' growth come from?
Kalyani Steels gave no forecasts of revenue, margins or sales volumes in its FY22–FY26 annual reports or results.
New steel plant, including the Kamineni assets
Early₹474 cr in progress, 31 Mar 2026
It bought the assets of Kamineni Steel & Power from liquidation in FY24. CARE said in Dec 2024 they were not operating. No completion date or total cost has been disclosed.
Status: Early, too early to judge.
Odisha steel and titanium plan
EarlyMoU signed 23 Feb 2024
An agreement of intent with the Odisha government for a 0.7 million-tonne specialty steel complex and a titanium plant. The FY25 and FY26 annual reports give no update.
Status: Early, too early to judge.
Own coke ovens
WorkingCoal and coke prices per tonne −14% (FY24)
The coke oven plant started in March 2023. CARE says coal and coke prices per tonne fell 14% in FY24, mainly because of it.
Status: Working, on track against what the company said.
Status compares progress with what the company itself said it would do: Working = on track against what the company said; Mixed = partly on track; Behind = behind the company's own plan; New = recently announced; Early = too early to judge.
Source: Annual Report FY26 (53rd), incl. BRSR FY26; Annual Report FY25 (52nd); Annual Report FY24 (51st) and 3 more
11 · The numbers · Standalone (no material subsidiaries) · ₹ crore
How has Kalyani Steels done?
Revenue
₹1,846 crFY26
Revenue stayed between ₹1,706 crore and ₹1,982 crore from FY22 to FY26, and fell 6.9% in FY26.
₹ crore · Source: Annual Report FY23 (50th); Annual Report FY24 (51st); Annual Report FY25 (52nd) and 12 more
See the numbers
Net profit
₹255 crFY26
Net profit fell to ₹167 crore in FY23, then rose each year to ₹255 crore in FY26.
₹ crore · Source: Annual Report FY23 (50th); Annual Report FY24 (51st); Annual Report FY25 (52nd) and 1 more
See the numbers
Profit kept per ₹100 of revenue
₹13.8FY26
Profit kept per ₹100 of revenue was ₹8.8 in FY23 and ₹13.8 in FY26.
₹ of profit per ₹100 of revenue (net margin) · Source: Annual Report FY23 (50th); Annual Report FY24 (51st); Annual Report FY25 (52nd) and 1 more
See the numbers
Free cash flow
₹80.3 crFY26
Free cash flow was negative in FY23 and FY24, the year it paid ₹505 crore for the Kamineni assets.
₹ crore · cash from operations minus spending on plants and equipment · Source: Annual Report FY23 (50th); Annual Report FY24 (51st); Annual Report FY25 (52nd) and 1 more
See the numbers
See all yearly numbers
EBITDA = profit before interest, tax and wear-and-tear of assets. Financial year runs April to March (March year end). Net profit is the share belonging to the company's owners.
12 · Financial strength · 31 Mar 2026
How much debt does Kalyani Steels have?
- Total debt₹475 cr
- Cash and investments₹774 cr
- Net cash (cash minus debt)₹299 cr
- Net worth (shareholders' money)₹2,100 cr
- Debt to equity
- 0.23×
- ₹ of debt for every ₹1 of shareholders' money
- Contingent liabilities
- ₹217 cr
- possible future payments, e.g. disputed claims
- All figures are standalone. The only subsidiary, DGM Realties, had no revenue in FY26.
- Cash and bank is ₹76.6 crore of cash and short deposits plus ₹697.3 crore of other bank balances. That includes ₹1.3 crore in unclaimed-dividend accounts, but not ₹16.0 crore of deposits due after 12 months. ₹83 crore of deposits is pledged to a bank as security.
- All borrowings are due within 90 days, mostly bill discounting (cash from banks against customer bills). The last long-term loan was repaid in FY25.
- Contingent liabilities (disputed claims not booked as costs) were ₹216.7 crore. ₹136.5 crore is a Karnataka forest tax on iron ore, under appeal in the Supreme Court.
- CARE rated its long-term bank loans AA; Stable on 4 Dec 2024. The FY26 annual report says CARE reaffirmed the ratings again, without giving the date.
Source: Annual Report FY26 (53rd), incl. BRSR FY26; CARE Ratings press release: CARE AA; Stable / CARE A1+ reaffirmed
13 · Who owns it · Q3 FY26
Who owns Kalyani Steels?
- Promoters (founders or parent company)64.7%
- Foreign institutions (FII)1.8%
- Indian institutions (DII)11.1%
- Public and others22.4%
Promoter pledge
No promoter shares were pledged in Q3 FY26.
How ownership changed
* Pledged = share of the promoters' own holding reported as pledged. In older filings this can include shares “otherwise encumbered”; the governance flags say when.
Source: Shareholding pattern, Mar 2023 (Reg. 31); Shareholding pattern, Jun 2023 (Reg. 31); Shareholding pattern, Sep 2023 (Reg. 31) and 9 more
14 · What it does with profit
What does Kalyani Steels do with its profit?
Dividend per share
₹10.00FY26
Dividend paid for each share, by financial year.
₹ per share · Source: Annual Report FY22 (49th); Annual Report FY23 (50th); Annual Report FY24 (51st) and 3 more
See the numbers
No buybacks or fund raises in the period covered.
15 · Who runs it
Who runs Kalyani Steels, and did they deliver?
B.N. Kalyani
Chairman (promoter, non-executive)
Also Chairman and Managing Director of Bharat Forge, its largest customer.
R.K. Goyal
Managing Director
On the board since 17 Jan 2011. Paid ₹16.2 crore in FY26, equal to 6.3% of that year's net profit.
Bantu Upendra Kumar Patro
Chief Financial Officer · since 2026
Took over from B.M. Maheshwari on 9 May 2026.
What they said, and what happened
1 delivered · 1 too early to tell
Said on 10 Jan 2024
Complete the purchase of Kamineni Steel & Power's auctioned assets by 7 May 2024, for ₹450 crore.
DeliveredWhat happened
Completed in FY24. The cash paid was ₹505 crore including taxes.
Said on 23 Feb 2024
Intends to set up a 0.7 million-tonne specialty steel complex and a titanium plant in Odisha (MoU; terms to follow).
Too early to tellWhat happened
No update in the FY25 or FY26 annual reports.
Source: Annual Report FY26 (53rd), incl. BRSR FY26; Q3 FY24 financial results (standalone and consolidated); Annual Report FY24 (51st) and 2 more
16 · Governance signals
What do Kalyani Steels' governance filings show?
- Auditor
- Kirtane & Pandit LLP, since 2022
- Auditor changes
- 1 Aug 2022: P G Bhagwat LLP → Kirtane & Pandit LLP (P G Bhagwat LLP retired after completing two successive five-year terms. Kirtane & Pandit LLP was appointed from the 49th AGM.)
- Audit qualifications
- None reported
- Related-party dealings
- In FY26, sales to Kalyani group companies were ₹890 crore, 48.2% of revenue. It also bought ₹63.2 crore of goods from group company Saarloha Advanced Materials. It paid a ₹6.1 crore brand fee to Kalyani Strategic Management Services.
- Credit rating
- CARE Ratings AA (long-term); A1+ (short-term) (Stable), 4 Dec 2024
A credit rating describes the company's ability to repay debt. It is not a rating of the share.
Flags to know about
regulatory · 23 Feb 2026
SEBI settlement order, 23 Feb 2026
SEBI's proceedings concerned alleged lapses in approvals and disclosures of related-party transactions; its investigation covered FY10 to FY22. Kalyani Steels paid ₹2.80 crore and settled without admitting or denying the findings.
regulatory · 8 May 2026
Board had too few independent directors, Nov 2025 to May 2026
From 9 Nov 2025, independent directors were fewer than half the board, below the listing-rule requirement. The company appointed an independent director on 8 May 2026 to meet it.
related party · 31 Mar 2026
About half of sales go to group customers
Two Kalyani group customers paid 47.6% of FY26 revenue. Sales to all related parties were 48.2%.
disclosure · 31 Mar 2026
No disclosed timeline or cost for new-plant work
No completion date or total cost is disclosed for ₹474 crore of new-plant work in progress on 31 Mar 2026.
Source: Annual Report FY26 (53rd), incl. BRSR FY26; Annual Report FY22 (49th); CARE Ratings press release: CARE AA; Stable / CARE A1+ reaffirmed and 1 more
17 · What the market paid · price as of 30 Jun 2026
What did the market pay for Kalyani Steels on 30 Jun 2026?
Price as of 30 Jun 2026 (shown for education; prices change daily).
Price as of 30 Jun 2026 (data at least 3 months old, shown for education): ₹879.95 on NSE. At that price all 43,653,060 shares were valued at ₹3,841 crore. P/E of 15.1 is the price divided by FY26 profit per share (₹58.45). P/B of 1.83 is the price divided by book value (shareholders' equity) per share. The ₹10 dividend recommended for FY26 was 1.1% of that price.
- Share price
- ₹879.95
- Market value (market cap)
- ₹3,841 cr
- P/E
- 15.1×
- P/B
- 1.8×
Source: NSE equity bhavcopy (sec_bhavdata_full), 30 Jun 2026: KSL close; BSE equity bhavcopy, 30 Jun 2026: scrip 500235 close; Annual Report FY26 (53rd), incl. BRSR FY26
18 · What could go wrong
What could go wrong for Kalyani Steels?
- Concentration
Nearly half of sales go to two group customers
Bharat Forge, and Kalyani Technoforge with its subsidiary, all Kalyani group companies, paid 47.6% of FY26 revenue.
Watch Their share of revenue in each annual report.
- Raw-material prices
Coal and iron ore prices
Coking coal is imported, and there are no captive mines or long-term contracts. CARE says cost changes reach customers with a delay.
Watch Raw materials per ₹100 that came in (₹50.4 in FY26).
- Demand
Auto industry cycles
CARE said in Dec 2024 that about 80% of sales go to the auto sector, which moves in cycles. FY26 revenue fell 6.9%.
Watch Quarterly revenue compared with the same quarter a year earlier.
- Execution
Depends on one shared plant
Its only plant is shared with Mukand Ltd and run by the Hospet Steels joint venture.
Watch Any change to the alliance with Mukand or to the 41.38% share.
- Execution
₹474 crore in an unfinished plant
New-plant work in progress, including the Kamineni assets, has no disclosed completion date or total cost.
Watch Capital work in progress and any project announcement.
- Governance
Related-party governance
SEBI settled proceedings over alleged lapses in related-party approvals and disclosures in Feb 2026. The company paid ₹2.80 crore without admitting or denying the findings.
Watch Half-yearly related-party disclosures and audit-committee approvals.
Source: Annual Report FY26 (53rd), incl. BRSR FY26; CARE Ratings press release: CARE AA; Stable / CARE A1+ reaffirmed; SEBI settlement order SO/JS/DP2025-26/7871-7873 in the matter of Kalyani Steels Limited
19 · How it got here
How did Kalyani Steels get here?
1973
Milestone
Company formed
Kalyani Steels was incorporated in February 1973.
2023
Milestone
Own coke ovens
A coke oven plant started in March 2023. CARE says coal and coke prices per tonne fell 14% in FY24, mainly because of it.
2024
Milestone
Kamineni assets bought
Paid ₹505 crore for a steel billet plant's assets sold from liquidation.
2024
Milestone
Odisha MoU
Signed an agreement of intent for a 0.7 million-tonne specialty steel complex in Odisha.
2024
Milestone
DGM Realties becomes a subsidiary
The first of four tranches of convertible debentures converted into shares on 29 Mar 2024. All four had converted by 31 Mar 2026, and DGM became wholly owned on 13 Jan 2026.
Source: Annual Report FY26 (53rd), incl. BRSR FY26; CARE Ratings press release: CARE AA; Stable / CARE A1+ reaffirmed; Annual Report FY24 (51st) and 1 more
20 · Both sides
What do supporters and critics point to?
What supporters point to
- Cash and bank balances of ₹774 crore were larger than borrowings of ₹475 crore on 31 Mar 2026.
- Net profit was ₹243–255 crore in four of the five years FY22–FY26. It was ₹167 crore in FY23.
- CARE rated its long-term bank loans AA with a stable outlook in Dec 2024.
- CARE says coal and coke prices per tonne fell 14% in FY24, mainly because of its own coke oven.
- Promoters held 64.70% with no shares pledged in every quarter from Mar 2023 to Dec 2025.
What critics point to
- Two Kalyani group customers paid 47.6% of FY26 revenue.
- SEBI settled proceedings over alleged related-party lapses in Feb 2026. The company paid ₹2.80 crore without admitting or denying the findings.
- ₹474 crore of new-plant work has no disclosed completion date or cost.
- Revenue fell 6.9% in FY26, and cash from operations fell to ₹142 crore from ₹383 crore.
- The FY22–FY26 annual reports and results give no forecasts of revenue, margins or sales volumes.
21 · What to watch next
What should you watch next at Kalyani Steels?
Next event
Q2 FY27 results (expected, based on last year's 4 Nov date)
4 Nov 2026
Expected, based on last year's date
New plant
Any completion date or total cost for the ₹474 crore new-plant work.
Group customers
Whether Bharat Forge and Kalyani Technoforge (with its subsidiary) stay near half of revenue.
Raw material cost
Raw material cost against revenue in each result, since coal and iron ore are the largest cost.
22 · Key facts
Key facts about Kalyani Steels
- What does Kalyani Steels do?
- Kalyani Steels Ltd makes carbon and alloy steel bars at Ginigera, Karnataka. Forging companies shape them into parts for vehicles, engines, tractors, bearings, wind turbines and railways.
- How does Kalyani Steels make money?
- Kalyani Steels earns money by selling steel. Rolled steel bars brought in ₹1,566 crore of its ₹1,846 crore revenue from operations in FY26.
- Who are Kalyani Steels' customers?
- In FY26 Bharat Forge paid 25.6% of Kalyani Steels' revenue, and Kalyani Technoforge with its subsidiary paid 22.0%. Both are Kalyani group companies.
- How big is Kalyani Steels?
- Kalyani Steels had standalone revenue of ₹1,846 crore and net profit of ₹255 crore in FY26 (year to March 2026). Its only subsidiary had no revenue.
- Who owns Kalyani Steels?
- On 31 Dec 2025 the Kalyani promoter group held 64.70% of Kalyani Steels, with no shares pledged. Indian institutions held 11.11%, foreign investors 1.78% and the public 22.41%.
- How does Kalyani Steels' shared plant work?
- Kalyani Steels shares its only plant, at Ginigera in Karnataka, with Mukand Ltd. Kalyani Steels takes 41.38% of the output and pays 41.38% of the costs, according to its FY26 annual report.
- How much debt does Kalyani Steels have?
- On 31 Mar 2026 Kalyani Steels had borrowings of ₹475 crore and cash and bank balances of ₹774 crore. All borrowings were due within 90 days.
- Does Kalyani Steels pay a dividend?
- Kalyani Steels paid ₹10 per share for each year from FY22 to FY25. Its board recommended ₹10 for FY26, about 17% of FY26 profit.
Source: Annual Report FY26 (53rd), incl. BRSR FY26; Shareholding pattern, Dec 2025 (Reg. 31); Annual Report FY25 (52nd) and 3 more
Terms on this page
- Capital expenditure (capex)
- Credit rating
- Customer concentration
- Dividend payout ratio
- EBITDA
- FII and DII holding
- Free cash flow
- Net debt
- Net profit
- Operating margin
Each explains the term in plain English, with the same number from other companies on Cityfort.
23 · Sources and changes
Where every number on this page comes from
Sources (37 documents)
- S1Annual Report FY26 (53rd), incl. BRSR FY26 · Company · Tier 1: company or exchange filing · 8 May 2026
- S2Annual Report FY25 (52nd) · Company · Tier 1: company or exchange filing · 5 May 2025
- S3Annual Report FY24 (51st) · Company · Tier 1: company or exchange filing · 10 May 2024
- S4Annual Report FY23 (50th) · Company · Tier 1: company or exchange filing · 28 Apr 2023
- S5Annual Report FY22 (49th) · Company · Tier 1: company or exchange filing · 12 May 2022
- S6Q1 FY27 financial results (standalone and consolidated) · Company (copy of exchange filing) · Tier 1: company or exchange filing · 7 Aug 2026
- S7Q4 FY26 and FY26 audited financial results (standalone and consolidated) · Company (copy of exchange filing) · Tier 1: company or exchange filing · 8 May 2026
- S8Q3 FY26 financial results (standalone and consolidated) · Company (copy of exchange filing) · Tier 1: company or exchange filing · 3 Feb 2026
- S9Q2 FY26 financial results (standalone and consolidated) · Company (copy of exchange filing) · Tier 1: company or exchange filing · 4 Nov 2025
- S10Q1 FY26 financial results (standalone and consolidated) · Company (copy of exchange filing) · Tier 1: company or exchange filing · 31 Jul 2025
- S11Q4 FY25 and FY25 audited financial results (standalone and consolidated) · Company (copy of exchange filing) · Tier 1: company or exchange filing · 5 May 2025
- S12Q3 FY25 financial results (standalone and consolidated) · Company (copy of exchange filing) · Tier 1: company or exchange filing · 3 Feb 2025
- S13Q2 FY25 financial results (standalone and consolidated) · Company (copy of exchange filing) · Tier 1: company or exchange filing · 28 Oct 2024
- S14Q1 FY25 financial results (standalone and consolidated) · Company (copy of exchange filing) · Tier 1: company or exchange filing · 6 Aug 2024
- S15Q4 FY24 and FY24 audited financial results (standalone and consolidated) · Company (copy of exchange filing) · Tier 1: company or exchange filing · 10 May 2024
- S16Q3 FY24 financial results (standalone and consolidated) · Company (copy of exchange filing) · Tier 1: company or exchange filing · 5 Feb 2024
- S17Shareholding pattern, Mar 2023 (Reg. 31) · Company (copy of BSE XBRL filing) · Tier 1: company or exchange filing · 31 Mar 2023
- S18Shareholding pattern, Jun 2023 (Reg. 31) · Company (copy of BSE XBRL filing) · Tier 1: company or exchange filing · 30 Jun 2023
- S19Shareholding pattern, Sep 2023 (Reg. 31) · Company (copy of BSE XBRL filing) · Tier 1: company or exchange filing · 30 Sep 2023
- S20Shareholding pattern, Dec 2023 (Reg. 31) · Company (copy of BSE XBRL filing) · Tier 1: company or exchange filing · 31 Dec 2023
- S21Shareholding pattern, Mar 2024 (Reg. 31) · Company (copy of BSE XBRL filing) · Tier 1: company or exchange filing · 31 Mar 2024
- S22Shareholding pattern, Jun 2024 (Reg. 31) · Company (copy of BSE XBRL filing) · Tier 1: company or exchange filing · 30 Jun 2024
- S23Shareholding pattern, Sep 2024 (Reg. 31) · Company (copy of BSE XBRL filing) · Tier 1: company or exchange filing · 30 Sep 2024
- S24Shareholding pattern, Dec 2024 (Reg. 31) · Company (copy of BSE XBRL filing) · Tier 1: company or exchange filing · 31 Dec 2024
- S25Shareholding pattern, Mar 2025 (Reg. 31) · Company (copy of BSE XBRL filing) · Tier 1: company or exchange filing · 31 Mar 2025
- S26Shareholding pattern, Jun 2025 (Reg. 31) · Company (copy of BSE XBRL filing) · Tier 1: company or exchange filing · 30 Jun 2025
- S27Shareholding pattern, Sep 2025 (Reg. 31) · Company (copy of BSE XBRL filing) · Tier 1: company or exchange filing · 30 Sep 2025
- S28Shareholding pattern, Dec 2025 (Reg. 31) · Company (copy of BSE XBRL filing) · Tier 1: company or exchange filing · 31 Dec 2025
- S29CARE Ratings press release: CARE AA; Stable / CARE A1+ reaffirmed · CARE Ratings · Tier 2: rating agency or regulator · 4 Dec 2024
- S31SEBI settlement order SO/JS/DP2025-26/7871-7873 in the matter of Kalyani Steels Limited · SEBI · Tier 2: rating agency or regulator · 23 Feb 2026
- S32NSE equity bhavcopy (sec_bhavdata_full), 30 Jun 2026: KSL close · NSE · Tier 1: company or exchange filing · 30 Jun 2026
- S33BSE equity bhavcopy, 30 Jun 2026: scrip 500235 close · BSE · Tier 1: company or exchange filing · 30 Jun 2026
- S36Notice of 53rd AGM (27 Aug 2026), dividend record date 31 Jul 2026 · Company · Tier 1: company or exchange filing · 8 May 2026
- S37Mukand Ltd: Annual Report FY26 (competitor filing) · Mukand Ltd (filed with NSE) · Tier 1: company or exchange filing · 20 Jul 2026
- S38Sunflag Iron and Steel Company Ltd: Annual Report FY26 (competitor filing) · Sunflag Iron and Steel Company Ltd (filed with NSE) · Tier 1: company or exchange filing · 1 Sep 2026
- S39Vardhman Special Steels Ltd: Annual Report FY26 (competitor filing) · Vardhman Special Steels Ltd (filed with NSE) · Tier 1: company or exchange filing · 25 Aug 2026
- S40JSW Steel Ltd: Integrated Report FY26, Salem Works special steel section (competitor filing) · JSW Steel Ltd (filed with NSE) · Tier 1: company or exchange filing · 2 Jul 2026
Changes to this page (v1 · 25 Oct 2026)
- v1 · 25 Oct 2026First version. (first version)
Numbers come only from tier 1 and tier 2 sources. Read how we research.
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