Shyam Century Ferrous Limited Shareholders Approve Asset Disposal Through Postal Ballot

Shyam Century Ferrous Limited has successfully completed its postal ballot process for the disposal of substantially whole assets, with shareholders providing overwhelming approval for the special resolution on February 10, 2026. Postal Ballot Results Overview The company conducted the postal ballot exclusively through remote e-voting, utilizing the platform provided by National Securities Depository Limited (NSDL). The voting process commenced on January 11, 2026, at 9:00 a.m. IST and concluded on February 9, 2026, at 5:00 p.m. IST. Parameter Details Total Members (Cut-off Date) 70,763 Cut-off Date January 2, 2026 Voting Period January 11 - February 9, 2026 Members Participated 213 Total Shares Voted 152,097,210 Voting Results by Category The special resolution for asset disposal received strong support across all shareholder categories: Category Shares Held Votes Polled % Polled Votes in Favour Votes Against % in Favour Promoter & Promoter Group 104,897,945 104,897,945 100.00% 104,897,945 0 100.00% Public-Institutions 2,947 2,947 100.00% 0 2,947 0% Public-Non Institutions 107,272,098 47,196,318 43.99% 47,161,125 35,193 99.92% Total 212,172,990 152,097,210 71.69% 152,059,070 38,140 99.98% Resolution Details The special resolution sought approval for the company to sell, lease, or otherwise dispose of the whole or substantially the whole assets of the company. This resolution was proposed under: Section 180(1)(a) of the Companies Act, 2013 Regulation 37A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Other applicable provisions and rules The resolution was categorized as a special resolution, requiring a higher threshold of approval from shareholders. Scrutinizer's Certification Raj Kumar Bonthia, Partner of MKB & Associates, Practicing Company Secretaries, served as the scrutinizer for the postal ballot process. The scrutinizer certified that the resolution was approved and passed by the requisite majority, with 99.9749% of valid votes cast in favour of the proposal. Key findings from the scrutinizer's report include: 165 members voted in favour representing 152,059,070 votes 48 members voted against representing 38,140 votes Public shareholders cast 47,161,125 votes in favour and 38,140 votes against All votes were deemed valid Regulatory Compliance The postal ballot process was conducted in accordance with MCA guidelines and various circulars issued for e-voting procedures. The company completed the dispatch of the postal ballot notice electronically on January 9, 2026, to all members who had registered their email addresses with the company, RTA, or depositories. The results and scrutinizer's report have been made available on the company's website at www.shyamcenturyferrous.com and on NSDL's website, ensuring transparency and regulatory compliance. Shyam Century Ferrous Limited has announced its unaudited financial results for the third quarter ended 31st December 2025, revealing a substantial deterioration in financial performance following the closure of its manufacturing operations. The ferro silicon manufacturer reported a net loss of ₹613.83 lakhs for Q3FY26, marking a significant decline from the net profit of ₹6.33 lakhs recorded in the corresponding quarter of the previous fiscal year. Financial Performance Overview The company's financial metrics demonstrate the severe impact of operational cessation on its business performance: Metric Q3FY26 Q3FY25 Change Revenue from Operations ₹83.69 lakhs ₹3,267.07 lakhs -97.44% Total Income ₹264.72 lakhs ₹3,431.26 lakhs -92.29% Net Loss/Profit (₹613.83 lakhs) ₹6.33 lakhs - Earnings Per Share (₹0.29) ₹0.00 - Revenue from operations plummeted by 97.44% year-on-year to ₹83.69 lakhs in Q3FY26 from ₹3,267.07 lakhs in Q3FY25. Total income decreased by 92.29% to ₹264.72 lakhs compared to ₹3,431.26 lakhs in the previous year quarter. Nine-Month Performance Analysis For the nine months ended 31st December 2025, the company's performance reflected the operational challenges: Parameter 9M FY26 9M FY25 Variance Revenue from Operations ₹2,225.78 lakhs ₹9,097.57 lakhs -75.53% Total Income ₹2,900.95 lakhs ₹9,685.68 lakhs -70.05% Net Loss (₹937.05 lakhs) (₹493.30 lakhs) -89.93% Total Comprehensive Loss (₹367.05 lakhs) ₹909.41 lakhs - The nine-month period showed revenue from operations declining by 75.53% to ₹2,225.78 lakhs from ₹9,097.57 lakhs in the corresponding period last year. Net loss widened significantly to ₹937.05 lakhs compared to ₹493.30 lakhs in 9M FY25. Operational Cessation and Strategic Decision The company ceased operations at its plant located at EPIP, Rajabagan, Byrnihat, District-Ri-Bhoi, Meghalaya from 7th May 2025 due to a significant increase in power tariffs that rendered operations economically unviable. This operational shutdown has been the primary driver behind the dramatic decline in financial performance. In response to these challenges, the Board of Directors in their meeting held on 7th January 2026 unanimously accorded in-principle approval for the sale, lease, or disposal of substantially all company assets. This includes: Plant and Machinery Furniture and Fixtures Tools and Equipment Electrical Installations Manufacturing Rights and Approvals The proposed asset disposal remains subject to shareholder approval, and the assets continue to be recognized under Property, Plant and Equipment rather than being classified as held for sale. Expense Structure and Cost Management Despite the operational closure, the company incurred total expenses of ₹1,185.01 lakhs in Q3FY26 compared to ₹3,430.79 lakhs in Q3FY25. Notable expense components included power and fuel expenses of ₹752.36 lakhs, depreciation of ₹122.30 lakhs, and employee benefit expenses of ₹27.46 lakhs. The company maintained its paid-up equity share capital at ₹2,121.73 lakhs with a face value of ₹1 per share. The financial results were approved by the Board of Directors on 6th February 2026 following recommendation by the Audit Committee, with statutory auditors completing the limited review as required under SEBI regulations. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. 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