Company Update

Bihar Sponge Iron Limited announced its quarterly financial results, with net revenue from operations at Rs. 77.50 Cr and profit before tax at Rs. 2.12 Cr (Basic EPS: Rs. 0.23). Auditors highlighted unprovisioned items: a Rs. 2.15 Cr coal short-lifting penalty under dispute, and only partial provision for Rs. 82.73 Cr interest on a government loan, pending waiver.

Additionally, promoter loans are unquantified pending settlement.

The board also approved the re-appointment of Mrs. Kumkum Modi as a Non-Executive Non-Independent Director and appointed/re-appointed various auditors, all subject to shareholder approval.