Annual Report for the Financial Year 2025-26

BMW INDUSTRIES LIMITED ANNUAL REPORT 2025-26 Contents Corporate Overview 66 Business segment: Flat steel product 06 Corporate snapshot 74 How we have made ESG core to our 12 Financial performance overview existence 16 Chairman’s perspective 80 How we intend to enhance 20 Managing Director’s eagle vision shareholder value 24 Board of Directors 81 Post Balance Sheet date context 26 Chief Financial Officer’s 82 Corporate Information performance overview Statutory Reports 35 Building blocks 83 Director’s Report 53 At BMWIL, we have sought to enter a business space that is the fastest 94 Management discussion and growing across the steel universe analysis 58 BMW’s culture of manufacrturing 112 Corporate Governance Report excellence 133 Business Responsibility Report 61 Strengthening our Human Capital Financial Statement for the next phase of growth 143 Standalone Financial Statements 62 Business segment: Long steel products 212 Consolidated Financial Statements 65 Business segment: Logistics 274 Notice Disclaimer: This document contains statements about expected future events and financials of BMW Industries Limited, which are forward-looking. By their nature, forward-looking statements require the Company to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the assumptions, predictions and other forward-looking statements may not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as several factors could cause assumptions, actual future results and events to differ materially from those expressed in the forward-looking statements. Accordingly, this document is subject to the disclaimer and qualified in its entirety by the assumptions, qualifications and risk factors referred to in the Management Discussion and Analysis of this Annual Report. DAY ONE AT It is like taking a fresh guard even after one has scored a double century and treating the next ball as the first. BMW Industries Limited Annual Report 2025-26 BMW Industries Limited (BMWIL) is emerging as a market-facing, value- added steel company - positioned at the intersection of industrial capability and consumption-led demand. Corporate Overview | Statutory Reports | Financial Statements After more than three decades as a trusted steel processing partner we are entering a new and exciting phase. From assured From operating From cash flows within the processing to market- value chain to steel to created value participating shaping across it outcomes BMW Industries Limited Annual Report 2025-26 Our defining proposition: BMWIL represents a unique combination in the Indian steel ecosystem: A stable, annuity-like conversion business + A scalable, market- facing value-added product platform Corporate Overview | Statutory Reports | Financial Statements This dual- It allows us engine to invest structure is in growth deliberate. without compromising our financial discipline. It enables It combines us to build predictability our financial with independence possibility. without abandoning stability. BMW Industries Limited Annual Report 2025-26 Our vision Our mission Our values BMW Industries Limited aims BMW Industries strives to At BMW Industries, we value to be a globally admired achieve its vision through passion for our people and organisation, enhancing entrepreneurship, resource practices, trust, and ownership. the quality of life for all optimisation and eco-friendly Our commitment to sustainable stakeholders through sustainable practices. We are committed to development drives us to build a business practices. Our vision the high ethics, nurturing top responsible, ethical business that is to lead with innovation talent, maximising shareholder fosters a sense of belonging and and responsibility, setting returns, and positively impacting respect across all markets. benchmarks in the steel industry. communities. ƒ Passion for people and ƒ Global admiration for ƒ Fostering innovation and business excellence entrepreneurship ƒ Integrity and trust ƒ Enhancing stakeholder quality ƒ Utilising resources sustainably ƒ Sustainable development of life ƒ Upholding ethics and ƒ Progress with purpose ƒ Commitment to sustainability community impact Our commitment to integrity and responsible citizenship Adherence Ethical business Environmental Employee safety Progress with to industry practices: The responsibility: and welfare: purpose: BMWIL standards: BMWIL Company upholds BMWIL is The Company integrates business consistently follows transparency, committed to prioritises the growth with social stringent industry fairness and sustainable health, safety responsibility, standards to integrity in all its operations, and well-being striving to create ensure high levels dealings, fostering focusing on of its workforce meaningful and of quality, safety trust and long-term reducing its by maintaining a lasting value and operational relationships with environmental secure, inclusive beyond its core efficiency across all stakeholders. footprint and and supportive operations. its processes. contributing to a work environment. greener future. Corporate Overview | Statutory Reports | Financial Statements Our background Structurally favourable and demand- the Company’s presence in the driven environment: BMWIL is value-added steel segment, driving Resilient and future-focused: BMWIL positioned to benefit from rising scale, margin expansion and market has built an enduring presence in domestic steel manufacturing & diversification. India’s steel processing landscape, demand, infrastructure-led growth guided by its philosophy of Progress Manifit: Houses multiple cut-to- and the increasing adoption of value- with Purpose. Since its incorporation length and slitting lines, supported by added steel products. Backed by a in 1981, the Company has consistently corrugation machines for galvanized resilient financial profile, prudent aligned its capabilities with the steel sheets. It plays a key role in capital management and a focus evolving needs of the industry, delivering customised processing on higher-margin segments, the creating a foundation defined by solutions and application-specific Company is placed to sustain its reliability, precision and long-term outputs. growth momentum. relevance. Adityapur: Comprises three cut- Compelling blend of legacy, scale and Diversified and customer-centric to-length machines. Focuses on forward momentum: BMWIL combines steel solutions: BMWIL has, over the recovering prime material from decades of operational excellence decades, emerged as one of India’s process rejections, contributing to with a strategic vision to remain a leading steel service companies, enhanced resource efficiency and trusted and value-driven participant offering end-to-end manufacturing improved profitability. in India’s evolving steel ecosystem. and processing solutions across a Gamharia: State-of-the-art wide spectrum of products, including cornerstone of the Company’s flat HRPO (hot rolled pickled and oiled) Our standing product processing capabilities. coils, CR (cold rolled) coils, GP coils, The Company possesses arguably The plant integrates three pickling GC sheets, MS and GI pipes as well as India’s largest steel processing line, reversing mill and continuous tubes and TMT rebars. This diversified capacity in Bokaro, Jamshedpur galvanizing line within a zero- portfolio enables the Company to (Jharkhand) and Howrah (West Bengal) discharge. Positions the Company to cater to multiple sectors, delivering widen its footprint in the value-added products that combine durability, It is among the foremost tube coated steel segment Include Howrah. performance and consistency. manufacturers in Eastern India with its plant in Howrah (West Bengal), Hazibagan: The unit supports the Operationally robust enterprise: alongside the Jamshedpur facility Company’s coil processing operations BMWIL comprises advanced (Jharkhan [Showing first 8,000 characters — download PDF for full document]