Shah Metacorp Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
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Shah Metacorp (formerly Gyscoal Alloys) reported Q1 FY26 standalone revenue of ₹28.90 crore, down sharply from ₹44.88 crore in Q1 FY25 — a decline of about 36%. Profit after tax came in at ₹2.53 crore (EPS ₹0.04) versus ₹23.27 crore last year, though the prior year included a one-time exceptional gain of ₹24.82 crore. On a like-for-like basis, profit before tax actually rose modestly to ₹2.84 crore from ₹2.57 crore. The auditor flagged an Emphasis of Matter on long-outstanding trade receivables of ₹88.82 crore (with a ₹63.97 crore doubtful-debt provision already taken). The board also approved raising authorized share capital from ₹110 crore to ₹130 crore, and agreed to related-party transactions with promoter group firms plus remuneration for CEO Viral Shah as a 'place of profit'.
The big drop in headline revenue and the cloud over ₹88.82 crore of sticky receivables are red flags, but underlying profitability (ex-exceptional items) has actually improved slightly. Shareholders should watch for recovery of those receivables and monitor the dilutive impact of the new preferential share/warrant issuances and the recent stake acquisitions.