Outcome of Board Meeting held on 12th August, 2025 for approval of Quarterly Financial Results, Resignation of CFO and Appointment of Secretarial Auditor
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Awaiting price reaction for this filing.
Shahi Shipping's board, which met on 12th August 2025 from 12:30 PM to 4:30 PM, approved three key items. First, unaudited financial results for Q1 FY26 (quarter ended 30th June 2025), where revenue from operations dropped sharply to Rs. 175.77 lakhs from Rs. 307.01 lakhs in the same quarter last year. The company swung to a net loss of Rs. 31.20 lakhs versus a profit of Rs. 27.65 lakhs in Q1 FY25, with basic EPS turning negative at Rs. (0.22). Second, CFO Mrs. Dakshata Chavan resigned for personal reasons effective 11th August 2025, and her resignation letter was filed with the exchange. Third, M/s. HRU & Associates was appointed as Secretarial Auditor for FY 2024-25. The filing also notes pending tax/service tax disputes worth around Rs. 7.65 crore treated as contingent liabilities.
The weak quarterly numbers and CFO exit may raise short-term governance and operational concerns among shareholders. The decline in top-line and return to losses, together with unresolved tax demands exceeding Rs. 7 crore, could weigh on the stock and require monitoring of any successor appointment.