Gallantt Ispat has been declared as a Successful PreferredBidder for Composite Licence for Todupura Iron Ore Block District Karauli. The e-Auctions of the block was held and conducted bythe State Government of Rajasthan on 02 May 2024. The geological data and the structure indicate that the Iron Ore investigated area is 260.71 hectare and the total deposit of Iron Ore is 85.42 million ton.Powered by Capital Market - Live News

Gallantt Ispat announced that the Board of Directors of the Company at its meeting held on 02 May 2024, has recommended a Final dividend of Rs.1 per share (i.e.10%), subject to the approval of the shareholders.Powered by Capital Market - Live News

Net profit of Gallantt Ispat rose 40.44% to Rs 95.39 crore in the quarter ended March 2024 as against Rs 67.92 crore during the previous quarter ended March 2023. Sales rose 7.58% to Rs 1177.39 crore in the quarter ended March 2024 as against Rs 1094.39 crore during the previous quarter ended March 2023.For the full year,net profit rose 59.92% to Rs 225.35 crore in the year ended March 2024 as against Rs 140.91 crore during the previous year ended March 2023. Sales rose 4.20% to Rs 4227.12 crore in the year ended March 2024 as against Rs 4056.70 crore during the previous year ended March 2023. ParticularsQuarter EndedYear Ended�Mar. 2024Mar. 2023% Var.Mar. 2024Mar. 2023% Var. Sales1177.391094.39 8 4227.124056.70 4 OPM %15.5911.34 -10.608.98 - PBDT179.36116.71 54 426.84340.14 25 PBT145.2791.65 59 311.32239.89 30 NP95.3967.92 40 225.35140.91 60 Powered by Capital Market - Live News

Gallantt Ispat will hold a meeting of the Board of Directors of the Company on 2 May 2024.Powered by Capital Market - Live News

Gallantt Ispat announced that the second railway rake, which is ready tooperate, has been delivered to the Company for the purpose of loading of raw materials required for its manufacturing units such as coal, iron ore, fines, etc.The company reiterates that owning two railway rakes had cost it Rs 55 crore but having own rakes would assure that raw materials are dispatched timely, hassle free and cost effectively.Under the General Purpose Wagon Investment Scheme (GPWIS) of Railway Board, Indian Railways offer 10% rebate on railway freight rate for 15 years and as such, the company altogether would be able to save 25% on the freight cost (10% rebate plus 15% on premium indent). Powered by Capital Market - Live News