Outcome of Board Meeting held on 28th May, 2026 for approval of Financial Results for Quarter and Year ended 31st march, 2026
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Shahi Shipping Ltd reported a significant decline in revenue for FY2026, with revenue from operations dropping to Rs. 645.54 Lakhs from Rs. 1,057.93 Lakhs in the previous year, representing approximately a 39% decline. The company continues to incur losses with Profit After Tax of Rs. 181.96 Lakhs (negative), though this is an improvement from the previous year's loss of Rs. 356.64 Lakhs. The auditor issued a modified opinion due to the company not establishing adequate internal financial controls over financial reporting. The balance sheet shows severe capital erosion with negative Other Equity of Rs. 1,401.87 Lakhs and total equity reduced to just Rs. 47.62 Lakhs. Long-term borrowings nearly doubled from Rs. 283.08 Lakhs to Rs. 656.41 Lakhs. Multiple contingent liabilities are pending including a service tax demand of Rs. 7.17 crore and GST demand of Rs. 14.13 lakh.
The company is facing severe financial stress with negative equity and persistent losses. The significant revenue decline and weak internal controls raise red flags for investors. The declaration of unmodified opinion contradicts the auditor's report which clearly states the opinion was modified.