Shah Metacorp Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
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Shah Metacorp Limited reported audited consolidated results for FY2026. Total revenue grew 27% to Rs. 22,801 Lakhs from Rs. 17,918 Lakhs, driven by new subsidiary acquisitions. However, profit after tax dropped significantly to Rs. 1,214 Lakhs from Rs. 3,260 Lakhs in the prior year (63% decline). The company recorded an exceptional item of Rs. 2,482 Lakhs. Operating cashflow was negative at Rs. 5,774 Lakhs, indicating cash burn concerns. Borrowings surged to Rs. 23,908 Lakhs from Rs. 1,775 Lakhs due to financing for acquisitions and working capital. Auditors issued an unmodified (clean) opinion with multiple Emphasis of Matter notes, including Rs. 76.26 Crores of doubtful trade receivables (Rs. 56.89 Crores provisioned), share issuances via preferential warrants, and a Rs. 50 crore Rights Issue in progress.
While revenue is growing, the sharp PAT decline, negative operating cashflow, and massive debt increase are concerning. The large doubtful debt provision and ongoing receivables recovery uncertainty add risk. Shareholders should monitor the Rights Issue and receivables settlement under the MOU.