Shah Metacorp Limited has informed the Exchange regarding Appointment of M/s. DDH & Associates as Other of the company w.e.f. May 26, 2026.
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Shah Metacorp Limited's Board Meeting on May 26, 2026 approved audited consolidated financial results for FY2026. Total consolidated revenue increased to Rs. 20,799.29 Lacs from Rs. 17,615.60 Lacs in FY2025. However, profit after tax declined significantly to Rs. 1,213.68 Lacs from Rs. 3,260.00 Lacs in the previous year. Total assets nearly tripled to Rs. 56,565.74 Lacs from Rs. 19,814.01 Lacs, largely due to acquisitions. The auditors issued unmodified opinions. Key concerns highlighted include Rs. 76.26 Crores of outstanding trade receivables from an overseas customer with Rs. 56.89 Crores provision created. The Board also re-appointed M/s. DDH & Associates as Internal Auditors for FY2026-27 and re-appointed Mr. Mahendra Shukla as Executive Director. The company has initiated a Rs. 50 Crore Rights Issue and completed several acquisitions during the year.
The significant decline in profitability despite higher revenue, coupled with large doubtful receivables and ongoing rights issue, suggests financial caution is warranted. Shareholders should monitor the overseas debt recovery and rights issue dilution impact closely.