Unaudited Financial Result for Quarter ended as on 30th September, 2025
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Awaiting price reaction for this filing.
Shahi Shipping reported continued losses for Q2 FY26 with revenue from operations falling to Rs. 144.11 lakh (vs Rs. 196.79 lakh in Q2 FY25), a ~27% drop. For H1 FY26, revenue declined ~36% to Rs. 319.88 lakh from Rs. 502.68 lakh a year ago. The company posted a loss after tax of Rs. 67.51 lakh for H1 FY26, an improvement from Rs. 120.04 lakh loss in H1 FY25, though still firmly in the red. Other equity stands at a deeply negative Rs. (1,286.75) lakh versus paid-up capital of Rs. 1,449.49 lakh. Long-term borrowings more than doubled to Rs. 600.86 lakh, pushing the debt-to-equity ratio above 3.5x. The auditor (B.P. Shah & Co) issued an unqualified limited review report, though contingent liabilities from a Rs. 7.17 crore service tax dispute and a Rs. 33.53 lakh customs demand remain under litigation. Operating cash flow was marginally negative at Rs. (6.78) lakh.
Persistent losses, a negative net worth, and rising long-term debt point to serious financial stress for shareholders. The stock is likely to remain under pressure unless the company can reverse the revenue slide and resolve the large tax disputes hanging over it.