Maithan Alloys' Board Approves Intercompany Loans of Rs 356 Crore
By Ankur Chandra | Updated at: May 31, 2025 10:45 PM IST
Maithan Alloys Ltd announced key strategic decisions at its Board meeting held on May 28, 2025. The board approved the formation of a new subsidiary, ratified intercompany loans totaling ₹356.02 crore, and elevated a senior executive to lead operations at its Visakhapatnam plant.
Subsidiary Formation for Agri and Real Estate Businesses
The board has approved establishing a new agriculture and real estate targeted subsidiary to its executive team. That move is a clear step for the company toward diversifying outside its core ferroalloy business.
Loan Ratifications to Wholly-Owned Subsidiaries
The Board ratified the following related party transactions involving loans for real estate and corporate activities:
| Subsidiary | Loan Amount (₹ crore) |
|---|---|
| Salanpur Sinters Private Limited | 117.75 |
| Dadhichi Rail and Defence Operations Limited | 132.63 |
| Anjaney Minerals Limited | 105.64 |
| Total | 356.02 |
These loans are intended for real estate ventures and other corporate purposes within the respective wholly-owned subsidiaries.
Leadership Elevation at Visakhapatnam Unit
In a move to strengthen its senior management, the Board approved the elevation of Mr. B. Venugopal Rao as Senior Management Officer and Plant Head of the Visakhapatnam Unit. Mr. Rao, previously General Manager (Operations), holds a diploma in Metallurgy and brings over 12 years of experience in production management within the iron and steel sector. His appointment is effective from May 28, 2025, and will continue until retirement, resignation, or termination.
Meeting Duration and Compliance
The Board meeting commenced at 12:30 PM and concluded at 5:25 PM. All disclosures were made in line with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements, 2015.
Project outlook
Maithan Alloys’ move into agriculture and real estate supported by intercompany funding and strengthened leadership reflects its broader plan to diversify revenue and build stronger operational momentum.
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https://nsearchives.nseindia.com/corporate/MAITHANALL_28052025222516_OthersVenugopal.pdf
