Outcome of Board Meeting held on 13th September, 2025
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The Board of Directors of Shahi Shipping Ltd approved the unaudited financial results for Q2 FY26 (quarter ended September 30, 2025) and H1 FY26 (six months ended September 30, 2025). Revenue from operations fell sharply to Rs. 144.11 lakhs in Q2 FY26 from Rs. 196.79 lakhs in Q2 FY25, and H1 revenue declined to Rs. 319.88 lakhs from Rs. 502.68 lakhs. The company reported a narrower loss of Rs. 36.31 lakhs in Q2 (vs Rs. 147.65 lakhs loss last year) and Rs. 67.51 lakhs loss for H1 (vs Rs. 120.04 lakhs). Other equity remains deeply negative at Rs. (1,286.75) lakhs, indicating accumulated losses exceeding share capital. Long-term borrowings more than doubled to Rs. 600.86 lakhs, while operating cash flow turned negative at Rs. (6.78) lakhs. Auditor B.P. Shah & Co issued an unqualified limited review report.
Despite narrowed losses, the company is bleeding on both operations and revenue, carries a negative net worth, rising debt, and large disputed tax liabilities — all of which raise serious going-concern concerns and make this a high-risk stock for retail investors.