Vaswani Industries Limited held a board meeting on May 18, 2026, where the key outcome was the appointment of Mr. Rituraj Peswani as an Additional Director (Non-Executive, Independent Category) of the company, effective May 19, 2026. This appointment followed the conclusion of his previous five-year term as an Independent Director on May 18, 2026. His re-appointment for a second term of five consecutive years is subject to shareholder approval via a Special Resolution at the ensuing Annual General Meeting. Additionally, the Board confirmed that Mr. Peswani will continue his roles as Chairman of the Audit Committee and the Stakeholders’ Relationship Committee, and as a member of the Nomination and Remuneration Committee and the Finance and Investment Committee.

Vaswani Industries Limited is a Raipur-based integrated conglomerate primarily engaged in the manufacturing of iron, steel, and power. The company operates across the full value chain of the steel industry, producing sponge iron, steel billets, and HB wires, while utilizing waste heat recovery and atmospheric fluidized bed combustion technology to generate power for captive consumption and external sale. As of 2025, the company has undertaken significant capital expenditure to enhance its billet manufacturing capacity to 150,000 MTPA and commissioned a 66 MW solar power plant to reduce power costs and improve margins.

The company serves the construction and infrastructure sectors, providing critical raw materials. Recent developments in 2025 include a focus on operational efficiency and capacity utilization, with ongoing infrastructure investments reflected in capital work in progress. Regarding shareholding, the promoters, including Yashwant Ravi Vaswani, Manisha Vaswani, and Kushal Vaswani, hold significant stakes in the company.

In fiscal year 2025, Vaswani Industries reported a total revenue from operations of Rs. 411.63 crores, compared to Rs. 389.34 crores in fiscal year 2024. The Profit After Tax (PAT) for FY 2024-25 was Rs. 8.60 crores, compared to Rs. 9.03 crores in the previous fiscal year.