Resignation of Chief Financial Officer w.e.f. 11th August, 2025
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Shahi Shipping's board met on 12th August 2025 and approved three items: (1) unaudited Q1 FY26 results showing revenue from operations falling to ₹175.77 lakhs from ₹305.89 lakhs in Q1 FY25, with the company swinging to a loss of ₹31.20 lakhs versus a profit of ₹27.65 lakhs a year ago; EPS stood at negative ₹0.22. (2) Resignation of Mrs. Dakshata Chavan as Chief Financial Officer effective 11th August 2025, citing personal reasons. (3) Appointment of M/s. HRU & Associates as Secretarial Auditor for FY 2024-25. The full-year FY25 results also reflected a loss of ₹356.64 lakhs. The company continues to carry pending tax disputes including a service tax demand of ₹7.17 crore under appeal at the Appellate Tribunal.
Investors should note the CFO exit alongside a sharp year-on-year revenue decline of over 40% and a return to quarterly losses, which may raise short-term governance and operational concerns. Pending tax demands, particularly the ₹7.17 crore service tax matter, remain a key risk overhang for shareholders.