Sadhana Nitrochem Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
SADHNANIQ · price
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Sadhana Nitrochem reported weak Q1 FY26 results with standalone revenue from operations falling to Rs. 28.10 crore (from Rs. 30.84 crore YoY) and the company slipping into a net loss of Rs. 1.70 crore versus a marginal profit of Rs. 0.04 crore in Q1 FY25. On a consolidated basis, revenue declined sharper to Rs. 28.10 crore (from Rs. 36.10 crore) with a net loss of Rs. 2.12 crore. Total expenses rose to Rs. 34.17 crore (standalone), compressing margins. Executive Directors waived 55% of their remuneration (Rs. 69 lakhs) for the quarter. The company also sold its wholly-owned subsidiary Calchem Industries (which had nil revenue and negative net worth) to H.G. Partners LLP, a promoter group entity, for Rs. 13 crore — a related party transaction. CFO Rakesh Kothari resigned effective Aug 14, 2025, and two senior personnel (Vimal Jain, Jayesh Shah) were appointed. The auditor issued an unmodified (clean) review report.
Negative near-term: weak top-line, return to losses, and margin compression may weigh on the stock. The subsidiary sale to a related party at Rs. 13 crore brings in cash and removes a loss-making entity, but the related-party nature warrants investor scrutiny. Promoter pay waiver signals cost-consciousness amid the downturn.