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Shiv Aum Steels Limited (SHIVAUM)

📊 NSE: SHIVAUM 🏢 Trading 📅 Last Updated: 12/14/2025 13:13

📢 Recent Corporate Announcements

Shiv Aum Steels Shareholders Approve BSE Main Board Direct Listing Application at 7th AGM

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 10 Sep 2026, 05:06 PM

Shiv Aum Steels Limited submitted its Scrutinizer Report and remote e-voting results for its 7th AGM held on September 09, 2026. All eight resolutions were passed with 100% of the 2,559,752 valid votes cast in favour, with zero votes against. Key resolutions approved include adopting FY26 audited accounts, re-appointing directors and statutory auditors, and applying for direct listing/trading on the Main Board of BSE. The company is currently listed on the NSE Main Board with a market capitalization of Rs 616 Cr.

All 8 resolutions passed with 100% approval across 2,559,752 votes cast
Zero invalid votes or votes against recorded across all items
Shareholders approved application for direct listing/trading on the BSE Main Board (Resolution 8)
Adopted audited financial statements for the financial year ended March 31, 2026

💡 Track the application process and regulatory approvals from BSE regarding direct listing and commencement of trading on the exchange.

Shiv Aum Steels Concludes 7th AGM; Seeks Direct Listing on BSE Main Board

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 09 Sep 2026, 06:40 PM

Shiv Aum Steels Limited concluded its 7th Annual General Meeting (post-IPO) on September 9, 2026, with 23 members attending via video conference. Ordinary business included adopting FY26 audited accounts and re-appointing directors and statutory auditors. Among special business items, the company proposed a special resolution to apply for direct listing and trading of equity shares on the BSE Main Board, following its earlier migration to the NSE Main Board. Formal voting results will be declared within two working days.

7th AGM concluded on September 09, 2026, running from 03:12 PM to 03:22 PM (10 minutes duration)
Attended by 23 members, including 4 directors, via Video Conferencing
Special resolution tabled to apply for direct listing and trading on the BSE Main Board
Remote e-voting was held from September 05 to September 08, 2026, with voting results due within 2 working days

💡 Track the upcoming disclosure of voting results on exchanges and subsequent regulatory filings regarding the direct listing application on BSE.

Sept 02 set as Record Date for 7th Annual General Meeting

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 11 Aug 2026, 09:23 PM

Shiv Aum Steels Limited has fixed September 02, 2026, as the record date for its 7th Annual General Meeting (AGM). The Register of Members and Share Transfer Books will remain closed from September 02 to September 08, 2026, to determine eligibility for the meeting. This follows the company's FY26 performance, where it recorded a revenue of ₹459.41 Cr and a net profit of ₹5.69 Cr. The AGM will cover the financial results and operations for the fiscal year ended March 31, 2026.

Record date for the purpose of book closure is September 02, 2026
Book closure period is set for 7 days from September 02 to September 08, 2026
The meeting pertains to the financial year ended March 31, 2026
This is the company's 7th Annual General Meeting post-IPO

💡 Investors should review the upcoming AGM notice for details on potential dividends or strategic updates regarding the 25% targeted growth rate and dealership expansion.

Shiv Aum Steels to Seek BSE Main Board Listing; 7th AGM Set for September 09, 2026

🟡 NEUTRAL ⭐ 4/10

BOARD_MEETING 📅 11 Aug 2026, 08:57 PM

Shiv Aum Steels has scheduled its 7th Annual General Meeting (AGM) for September 09, 2026. A primary agenda item is a special resolution to apply for a direct listing on the BSE Main Board, following its 2025 migration to the NSE Main Board. The company also seeks to re-appoint its statutory auditors for a two-year term and regularize the appointment of an Independent Director for five years. These moves are aimed at enhancing financial flexibility and market visibility for the steel trading entity.

7th Annual General Meeting scheduled for September 09, 2026, via Video Conferencing.
Special Resolution proposed for direct listing and trading of equity shares on the BSE Main Board.
Proposed re-appointment of Statutory Auditors M/s Agarwal, Jain & Gupta for a 2-year term until 2028.
Regularization of Mr. Hemant Maheshwari as an Independent Director for a 5-year term starting June 23, 2026.
Re-appointment of Whole-time Directors Jatin Nagindas Mehta (holding 26,42,000 shares) and Krishna Nagin Mehta.

💡 Investors should monitor the voting results of the AGM on September 09, 2026, specifically the approval for the BSE listing which may improve stock liquidity.

Shiv Aum Steels Re-appoints Statutory Auditor for FY 2026-27 and 2027-28

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 11 Aug 2026, 05:44 PM

Shiv Aum Steels Limited has re-appointed Agrawal Jain & Gupta as its Statutory Auditor for a two-year term covering FY 2026-27 and FY 2027-28. The decision was made during the Board meeting held on August 11, 2026, following a recommendation from the Audit Committee. This appointment ensures continuity in financial oversight for the company, which currently has a TTM revenue of Rs 613 Cr and a market capitalization of Rs 579 Cr. The auditor has prior experience in IPO assignments and regulatory certifications, aligning with the company's recent migration to the NSE Main Board.

Re-appointment of Agrawal Jain & Gupta (Registration No. 013538C) as Statutory Auditor.
The appointment covers a fixed term of 2 financial years: 2026-27 and 2027-28.
Board approval was finalized on August 11, 2026, based on Audit Committee recommendations.
The company operates with a TTM revenue of Rs 613 Cr and a debt of Rs 94 Cr.

💡 Investors should treat this as a routine administrative update and focus on the company's upcoming quarterly financial performance and its ability to maintain margins in the steel trading segment.

Shiv Aum Steels Q1 PAT Declines 7.8% to ₹3.79 Cr; Plans BSE Main Board Listing

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 11 Aug 2026, 05:27 PM

Shiv Aum Steels reported a consolidated PAT of ₹3.79 Cr for Q1 FY27, a decline of 7.8% compared to ₹4.11 Cr in the same quarter last year. Consolidated revenue for the quarter fell 10.9% YoY to ₹145.60 Cr from ₹163.45 Cr, reflecting a slight contraction in trading volume s or pricing. The board also approved a proposal to apply for direct listing on the BSE Main Board, which may enhance stock liquidity. Statutory auditor s were re-appointed for a two-year term until 2028.

Consolidated revenue from operations declined 10.9% YoY to ₹145.60 Cr.
Consolidated Profit After Tax (PAT) stood at ₹3.79 Cr versus ₹4.11 Cr in the previous year's corresponding quarter.
Consolidated EPS for Q1 FY27 was ₹2.79, down from ₹3.02 in Q1 FY26.
Board approved a proposal to list equity share s on the BSE Main Board.
Agrawal Jain & Gupta re-appointed as Statutory Auditor s for FY 2026-27 and 2027-28.

💡 Watch for the BSE listing approval timeline as it could improve trading volume s. Monitor steel price trend s and the company's ability to maintain its 2.7% operating margin s in a contracting revenue environment.

0 Physical Shares Received for Demat: Shiv Aum Steels Files Q1 FY27 SEBI Compliance Certificate

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 13 Jul 2026, 06:44 PM

Shiv Aum Steels Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by the Registrar and Share Transfer Agent (RTA), Skyline Financial Services, confirms that no physical share certificates were received for dematerialization during the quarter ended June 30, 2026. This is a standard procedural filing required for all listed companies to ensure the integrity of the depository system.

Compliance certificate submitted for the quarter ended June 30, 2026.
0 physical share certificates were received for dematerialization during the period.
The RTA certificate was issued on July 02, 2026, and filed with the exchange on July 13, 2026.

💡 No action is required as this is a routine administrative filing. Investors should monitor upcoming quarterly financial results for material business updates.

Shiv Aum Steels Clarifies Regulatory Compliance for March 2026 Financial Results

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 02 Jul 2026, 05:48 PM

Shiv Aum Steels Limited has responded to a clarification sought by the National Stock Exchange (NSE) regarding its financial results for the quarter ended March 31, 2026. The exchange had raised concerns under Regulation 33 of SEBI LODR, likely regarding the authorization of the signatory. The company confirmed that the results were signed by Mr. Krishna Nagin Mehta, a Whole-time Director duly authorized by the Board. This clarification ensures the reported Q4 revenue of ₹163.45 Cr and PAT of ₹4.11 Cr remain valid under listing norms.

NSE sought clarification on deficiencies in financial results for the period ended March 31, 2026.
Company confirmed results were signed by Whole-time Director Mr. Krishna Nagin Mehta.
The board meeting approving these results took place on May 23, 2026.
The company reported a TTM revenue of ₹613 Cr and a net profit of ₹8 Cr for the fiscal year.
Clarification filed on July 01, 2026, to resolve the exchange's procedural query.

💡 Investors should monitor for any further exchange notifications regarding compliance; however, this appears to be a routine procedural resolution with no impact on the underlying business fundamentals.

Shiv Aum Steels to Close Trading Window from July 1, 2026 for Q1 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 25 Jun 2026, 05:03 PM

Shiv Aum Steels Limited has announced the closure of its trading window starting July 1, 2026, in compliance with SEBI Insider Trading regulations. The closure is ahead of the announcement of the un-audited financial results for the quarter ending June 30, 2026. The window will remain closed for all designated persons and their relatives until 48 hours after the results are declared. The specific date for the board meeting to approve these results will be communicated at a later date.

Trading window closure effective from Wednesday, July 1, 2026
Closure pertains to the un-audited financial results for the quarter ending June 30, 2026
Window to reopen 48 hours after the official announcement of financial results
Restriction applies to all Designated Persons and their immediate relatives

💡 This is a routine regulatory announcement with no impact on company fundamentals. Investors should monitor for the upcoming board meeting date to review the Q1 financial performance.

Shiv Aum Steels Appoints Hemant Maheshwari as Independent Director

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 23 Jun 2026, 07:19 PM

Shiv Aum Steels Limited has appointed Mr. Hemant Maheshwari as an Additional Non-Executive Independent Director effective June 23, 2026. Mr. Maheshwari is a Fellow Member of the ICSI with over 14 years of experience in corporate laws, regulatory compliance, and governance. The appointment is subject to shareholder approval and aims to enhance the company's board oversight. He is the founder of H. Maheshwari & Associates and holds no relationship with other directors.

Appointment of Mr. Hemant Maheshwari as Additional Non-Executive Independent Director effective June 23, 2026.
Appointee brings over 14 years of professional experience in Corporate Laws, SEBI Regulations, and FEMA.
Mr. Maheshwari is a Fellow Member of the Institute of Company Secretaries of India (ICSI).
Appointment is subject to shareholder approval within three months or at the next General Meeting.

💡 This is a routine governance-related update and requires no immediate action. Investors should monitor the company's adherence to governance standards following this appointment.

Shiv Aum Steels Appoints Hemant Maheshwari as Additional Independent Director

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 23 Jun 2026, 06:42 PM

Shiv Aum Steels Limited has appointed Mr. Hemant Maheshwari as an Additional Non-Executive Independent Director effective June 23, 2026. Mr. Maheshwari is a Fellow Member of the ICSI with over 14 years of experience in corporate laws, regulatory compliance, and governance. The appointment is subject to shareholder approval within three months or at the next General Meeting. He currently serves as the founder of H. Maheshwari & Associates and holds a directorship in Harrison Med-Pharma Private Limited.

Appointment of Mr. Hemant Maheshwari as Additional Non-Executive Independent Director effective June 23, 2026.
Appointee brings over 14 years of professional experience in Corporate Laws, SEBI Regulations, and Capital Market Transactions.
Mr. Maheshwari is a Fellow Member of The Institute of Company Secretaries of India (ICSI).
The term of appointment is until the ensuing General Meeting or within three months, whichever is earlier.
The appointee is not related to any other Director on the Board of the Company.

💡 No immediate action is required as this is a routine board appointment aimed at strengthening corporate governance and regulatory compliance.

Shiv Aum Steels FY26 PAT Declines 16.8% to ₹7.44 Cr; Revenue Dips to ₹532.5 Cr

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 23 May 2026, 06:31 PM

Shiv Aum Steels Limited reported a decrease in its annual performance for the fiscal year ended March 31, 2026. Total revenue from operations stood at ₹53,253.27 Lakhs, a 2.8% decline from ₹54,819.55 Lakhs in FY25. Net profit for the year (PAT) dropped significantly to ₹744.38 Lakhs compared to ₹894.62 Lakhs in the previous year. Consequently, the annual EPS fell to ₹5.47 from ₹6.58, reflecting pressure on the company's bottom line despite relatively stable quarterly revenue.

Annual Revenue from Operations decreased by 2.8% YoY to ₹532.53 Crore.
Net Profit (PAT) for FY26 fell to ₹7.44 Crore from ₹8.95 Crore in FY25.
Earnings Per Share (EPS) declined to ₹5.47 from ₹6.58 year-on-year.
Inventory levels reduced to ₹95.47 Crore as of March 31, 2026, from ₹109.18 Crore in the previous year.
Total Equity increased slightly to ₹120.85 Crore from ₹115.14 Crore.

💡 Investors should exercise caution as the company has shown a contraction in both revenue and profitability over the full fiscal year. It is advisable to monitor the steel sector's demand trends and the company's cost management strategies in the coming quarters.

Shiv Aum Steels Appoints Ankit Suryakant Mehta as Chairman; Reconstitutes Board Committees

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 16 Apr 2026, 06:27 PM

Shiv Aum Steels Limited has announced the appointment of Mr. Ankit Suryakant Mehta, an Independent Director, as the new Chairman of the Company effective April 16, 2026. This leadership change follows the resignation of Mrs. Bharti Manoj Daga. Consequently, the company has also reconstituted its Audit Committee and Nomination and Remuneration Committee to maintain regulatory compliance. These structural changes are aimed at ensuring continuity in corporate governance and oversight.

Mr. Ankit Suryakant Mehta (DIN: 01845488) appointed as Chairman of the Company effective April 16, 2026.
Audit Committee reconstituted with Mr. Harsh Lapsia as Chairman and Mr. Ankit Suryakant Mehta and Mr. Sanjay N Bansal as members.
Nomination and Remuneration Committee reconstituted with Mr. Pramod Basrur as Chairman.
Leadership and committee changes triggered by the resignation of Mrs. Bharti Manoj Daga.

💡 Investors should view this as a routine governance update following a board resignation. The appointment of an Independent Director as Chairman is generally a positive signal for corporate transparency.

Shiv Aum Steels Chairperson Bharti Manoj Daga Resigns Effective March 31, 2026

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 15 Apr 2026, 06:35 PM

Mrs. Bharti Manoj Daga has resigned from her dual role as Chairperson and Non-Executive Independent Director of Shiv Aum Steels Limited. The resignation was effective from March 31, 2026, and was formally accepted by the board on April 15, 2026. She cited personal commitments and pre-occupation as the reasons for her departure, confirming there are no other material reasons. This change also results in her exit from the Audit and Nomination and Remuneration Committees.

Resignation of Mrs. Bharti Manoj Daga as Chairperson and Independent Director effective March 31, 2026.
The Board of Directors officially accepted the resignation on April 15, 2026.
Cessation of membership in the Audit Committee and Nomination and Remuneration Committee.
The outgoing director confirmed no material reasons for resignation other than personal commitments.

💡 Investors should monitor the company's upcoming filings for the appointment of a new Chairperson to ensure leadership continuity. This is a standard board transition and does not currently signal operational issues.

Shiv Aum Steels Chairperson Bharti Manoj Daga Resigns Effective March 31, 2026

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 15 Apr 2026, 06:29 PM

Mrs. Bharti Manoj Daga has resigned from her dual role as Chairperson and Non-Executive Independent Director of Shiv Aum Steels Limited. The resignation was tendered on March 31, 2026, and formally accepted by the board on April 15, 2026. She cited personal commitments and pre-occupation as the reasons for her departure, and the company confirmed there are no other material reasons. Her exit also creates vacancies in the Audit Committee and the Nomination and Remuneration Committee.

Resignation effective from March 31, 2026, with board acceptance on April 15, 2026
Mrs. Bharti Manoj Daga steps down as Chairperson and Non-Executive Independent Director
Cessation of membership in the Audit Committee and Nomination and Remuneration Committee
Director confirmed no other material reasons for resignation beyond personal commitments

💡 Investors should monitor the company's upcoming announcements regarding the appointment of a new Chairperson and the reconstitution of its board committees to ensure governance stability.

View All SHIVAUM Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total revenue grew from INR 495.93 Cr in FY23 to INR 554.66 Cr in FY25, representing an 11.8% increase over two years. H1 FY24 revenue of INR 279 Cr showed an 18.7% YoY growth compared to INR 235 Cr in H1 FY23, driven by a 12.7% increase in sales volume to 42,031 tonnes.

Geographic Revenue Split

The company holds a dominant position in Western Maharashtra as the sole authorized distributor for Jindal Steel and Power Limited (JSPL), which serves as its primary revenue hub. Specific percentage splits for other regions are not disclosed.

Profitability Margins

Net Profit margins have seen a downward trend, declining from 2.89% in FY23 to 2.52% in FY24, and further to 1.74% in FY25 (INR 9.67 Cr profit on INR 554.66 Cr revenue). This decline is attributed to volatile steel prices and stagnant market conditions.

EBITDA Margin

EBITDA margin was 4.78% in FY23 (INR 23.73 Cr), down from 5.06% in FY22. Operating margins were reported at 4% in H1 FY24 compared to 7% in FY23, reflecting pressure from higher raw material costs which offset lower employee expenses.

Capital Expenditure

Tangible assets stood at INR 4.40 Cr as of September 2023. While specific future capex figures are not disclosed, the company is focusing on expansion through its subsidiary, Shivoham Ventures Pvt Ltd (SVPL).

Credit Rating & Borrowing

The company maintains a CRISIL BBB/Stable rating for long-term facilities and CRISIL A3+ for short-term facilities. Interest coverage ratio stood at 2.6x in FY25, declining from 3.0x in FY24 and 4.9x in FY23.

⚙️ Operational Drivers

Raw Materials

Mild steel structural products including angles, plates, channels, and thermo-mechanically treated (TMT) bars. Raw material costs represent approximately 92.5% of total revenue (INR 459.09 Cr out of INR 495.93 Cr in FY23).

Import Sources

Sourced domestically within India, primarily from major steel plants in states like Chhattisgarh and Odisha where principals like JSPL and SAIL operate.

Key Suppliers

Jindal Steel and Power Limited (JSPL) (Sole distributor for Western Maharashtra), Steel Authority of India Ltd (SAIL), RINL, and JSW Special Products.

Capacity Expansion

The company operates as a trading and distribution entity rather than a manufacturer; it maintains an average inventory of 10,000-12,000 MT to support its distribution scale.

Raw Material Costs

Raw material costs increased to INR 459.09 Cr in FY23, a 23.7% increase YoY from INR 371.14 Cr in FY22, tracking the 21.9% growth in total income.

Manufacturing Efficiency

Not applicable as the company is a trading house; efficiency is measured by inventory turnover which was 5.07 in FY25, a 10.4% decline from 5.66 in FY24.

Logistics & Distribution

Distribution is centralized in Western Maharashtra; logistics costs are embedded in 'Other Expenses' which decreased from INR 11.41 Cr in FY22 to INR 8.71 Cr in FY23.

📈 Strategic Growth

Expected Growth Rate

25%

Growth Strategy

Growth is targeted through the expansion of the dealership network via the subsidiary SVPL and leveraging the migration to the NSE Main Board (effective Nov 14, 2025) to enhance financial flexibility and market visibility.

Products & Services

Mild steel structural products (angles, plates, channels, TMT bars), coils, and plates sold to infrastructure and real estate sectors.

Brand Portfolio

Shiv Aum Steels; authorized distributor for Jindal Steel and Power Limited (JSPL).

New Products/Services

Expansion into new dealership lines through SVPL is expected to diversify the product basket beyond traditional structural steel.

Market Expansion

Focusing on deepening penetration in Western Maharashtra and exploring new territories through subsidiary-led dealerships.

Market Share & Ranking

Sole distributor for JSPL in Western Maharashtra, establishing a dominant local market position in the organized steel trading segment.

Strategic Alliances

MOU dealership with Steel Authority of India Ltd (SAIL) and JSW Special Products; sole distributorship with JSPL.

🌍 External Factors

Industry Trends

Steel Service Centers (SSCs) are estimated to process 25% of Indian steel output due to growing demand for smaller batches and shorter lead times, favoring organized players like SHIVAUM.

Competitive Landscape

Faces intense competition from both fragmented unorganized traders and other organized dealers of SAIL, RINL, and JSW.

Competitive Moat

Sustainable moat derived from 30+ years of promoter experience and the 'Sole Distributor' status for JSPL in a key industrial belt (Western Maharashtra), creating high entry barriers for competitors.

Macro Economic Sensitivity

Highly sensitive to GDP growth and infrastructure spending; demand is strongly correlated to the capital expenditure cycles of the Indian economy.

Consumer Behavior

Shift toward organized SSCs that offer stringent quality requirements, tight delivery commitments, and professional service.

Geopolitical Risks

Indirect exposure through global steel price fluctuations which dictate domestic pricing and inventory valuation.

⚖️ Regulatory & Governance

Industry Regulations

Subject to labor laws, tax regulations, and SEBI directives. Compliance is monitored by the Board's Audit Committee to ensure smooth operational flow.

Environmental Compliance

Not disclosed; company operates in trading which has lower environmental impact than manufacturing.

Taxation Policy Impact

Effective tax rate for FY25 was approximately 24.5% (INR 3.13 Cr tax on INR 12.79 Cr PBT).

Legal Contingencies

The company maintains stringent compliance mechanisms to mitigate risks related to the Companies Act and SEBI directives; no specific pending litigation values were disclosed.

⚠️ Risk Analysis

Key Uncertainties

Cyclicality in end-user industries (infrastructure/real estate) and volatility in steel prices which can impact operating margins (expected to remain around 4%).

Geographic Concentration Risk

High concentration in Western Maharashtra due to the JSPL sole distributorship agreement.

Third Party Dependencies

Significant dependency on JSPL for product supply; however, this is partially mitigated by dealer status with SAIL and RINL.

Technology Obsolescence Risk

Low risk for steel trading, but the company is implementing internal control systems to facilitate smoother information flow and resource management.

Credit & Counterparty Risk

Trade receivables stood at INR 60.97 Cr as of Sept 2023, up from INR 34.76 Cr in March 2023, indicating a potential stretch in the working capital cycle.