Pursuant to Regulation 30 and 33 of SEBI (Listing Obligations & Disclosure Requirements), Regulations, 2015, we are pleased to inform that the Board of Directors of the company in their ....
SHAHALLOYS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Shah Alloys Ltd reported FY2026 standalone net profit of Rs 72.60 crore compared to a loss of Rs 27.29 crore in FY2025. However, this turnaround was driven entirely by exceptional items totaling Rs 91.61 crore including gains from selling plant assets (Rs 70.39 crore), disinvestment in associate SAL Steel (Rs 13.98 crore), and HDFC Bank debt waiver (Rs 7.24 crore). Revenue collapsed to Rs 37.27 crore from Rs 266.52 crore because the company's main Iron and Steel plant at Santej, Gujarat was shut down in August 2025 due to persistent losses and technology obsolescence. The auditors issued an unmodified opinion on standalone accounts but a qualified opinion on consolidated accounts. Both auditors raised material uncertainty about the company's going concern status as the plant closure leaves uncertainty about future operations. The company also appointed G M C A & Co. as its new internal auditor for FY2026-27.
The stock may see positive reaction to the profit turnaround, but investors should note that core operations have ceased, cash flow from operations is negative at Rs 71 crore, and auditors have raised significant doubt about the company's ability to continue as a going concern. The company is exploring options but no clear revival plan is disclosed.