Shah Metacorp Limited has informed the Exchange regarding Board meeting held on February 12, 2026.
SHAH · price
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On the reaction day the stock moved 1.7 pts more than Nifty Microcap 250 and 1.6 pts more than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Shah Metacorp's board approved unaudited financial results for Q3 FY26 (Dec 2025). Consolidated revenue from operations rose to Rs 5,003.97 lakhs in Q3 FY26 from Rs 3,985.86 lakhs in Q3 FY25, a growth of about 25.5%. For nine months, consolidated revenue grew modestly to Rs 14,571.17 lakhs from Rs 13,468.22 lakhs. However, consolidated profit after tax fell sharply to Rs 71.60 lakhs in Q3 FY26 from Rs 299.50 lakhs a year ago, and 9M PAT dropped to Rs 400.33 lakhs from Rs 2,878.95 lakhs — the prior year figures were inflated by exceptional items of Rs 2,482.20 lakhs. Standalone results showed a similar pattern, with Q3 revenue up ~27.6% but Q3 PAT down ~79%. The auditor flagged an Emphasis of Matter on long-outstanding trade receivables of Rs 88.82 crore, against which a Rs 68.81 crore provision for doubtful debts has been made. The company also disclosed a Rs 50 crore rights issue in process, recent acquisitions of two subsidiaries via share swap, and an authorized capital increase from Rs 110 crore to Rs 130 crore.
Strong top-line growth is positive, but collapsing bottom-line profits, large doubtful receivables, and continued reliance on equity dilution (rights issue, preferential allotments) suggest ongoing stress. Shareholders should watch for recovery of the Rs 88.82 crore receivables and the outcome of the proposed rights issue, which could dilute existing holdings further.