Shah Alloys has scheduled its 36th Annual General Meeting for September 18, 2026, to seek shareholder approval for significant strategic shifts, including potential restructuring of its steel plant operations and amendments to its Memorandum of Association to enter commodity trading and real estate.
The Board is seeking a special resolution to evaluate strategic alternatives for its Iron & Steel Plant operations at Santej, Gujarat, following an earlier intimation regarding closure of plant operations. The proposed resolution would empower the Board to induct strategic investors or technology partners for modernisation or revival, lease or relocate the plant and machinery, sell operational assets, or enter joint ventures and management arrangements.
A valuation report prepared by an IBBI Registered Valuer places the fair market value of the plant and machinery at ₹44.195 crore, based on the Cost Approach – Depreciated Replacement Cost Method as of March 31, 2026, covering movable assets only. The company has clarified this figure is indicative and not a minimum sale price.
Shah Alloys also proposes altering its Main Objects to diversify beyond steel manufacturing, adding two new business verticals: commodity trading — covering agricultural commodities, metals, bullion, energy products and freight, including participation in commodity exchanges and derivative transactions — and real estate and infrastructure, covering acquisition, development and leasing of land and buildings for residential, commercial and industrial properties as well as infrastructure projects.
Proceeds from any asset monetisation or real estate development may be utilised for technology upgradation, debt repayment, working capital or strategic investments. The meeting will also address adoption of FY26 audited financial statements, the re-appointment of Director Ashok Sharma, and adoption of new Articles of Association aligned with the Companies Act, 2013.
