Net profit of Kalyani Steels declined 20.44% to Rs 29.98 crore in the quarter ended March 2018 as against Rs 37.68 crore during the previous quarter ended March 2017. Sales rose 11.76% to Rs 356.32 crore in the quarter ended March 2018 as against Rs 318.83 crore during the previous quarter ended March 2017.

For the full year,net profit declined 26.58% to Rs 114.88 crore in the year ended March 2018 as against Rs 156.48 crore during the previous year ended March 2017. Sales rose 6.90% to Rs 1344.16 crore in the year ended March 2018 as against Rs 1257.42 crore during the previous year ended March 2017.

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Kalyani Steel announced the appointment of Shrikrishna K. Adivarekar (DIN:06928271) as an Additional Independent Director, with effect from 18 May, 2018, for a tenure of 5 years from the date of appointment, subject to approval of the members of the Company.

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Kalyani Steels will hold a meeting of the Board of Directors of the Company on 18 May 2018.

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Meanwhile, the S&P BSE Sensex was down 18.50 points or 0.05% at 33,899.44. The S&P BSE Small-Cap index rose 0.56%, outperforming the Sensex.

On the BSE, 2,103 shares were traded on the counter so far as against average daily volumes of 28,833 shares in the past one quarter. The stock had hit a high of Rs 295.55 and a low of Rs 290.80 so far during the day. The stock had hit a 52-week high of Rs 469.15 on 20 June 2017 and a 52-week low of Rs 284.95 on 8 March 2018.

The small-cap company has equity capital of Rs 21.83 crore. Face value per share is Rs 5.

Gloxinia Investment and Finance sold 2.35 lakh shares of Kalyani Steels at Rs 287.57 per share in a bulk deal on the NSE on 12 March 2018. Promoter Sundaram Trading and Investment bought 2.39 lakh shares at Rs 287.69 apiece.

Sundaram Trading and Investment controlled 13.79% and Gloxinia Investment and Finance held 1.15% stake end December 2017.

Kalyani Steels' net profit fell 10.2% to Rs 30.80 crore on 2.7% decline in net sales to Rs 337.13 crore in Q3 December 2017 over Q3 December 2016.

Kalyani Steels is engaged in manufacturing and marketing iron and steel products.

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