Investors Presentation for the Q4 Results 31st March 2026
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Sharat Industries reported Q4FY26 revenue of ₹117.24 Cr, up 24.85% YoY, with full-year FY26 revenue at ₹524.7 Cr (up 38% vs FY25). However, EBITDA margin contracted to 6.87% from 7.51% due to elevated raw material costs (higher fish meal prices), crude-linked inflation, and operational disruptions from Middle East geopolitical issues causing order postponements and repackaging costs. The company is expanding geographically into Germany, Vietnam, Kazakhstan and Hong Kong, introduced a new value-added product (PD-Curl Control), and commissioned 310 KW of a 1 MW captive solar project with expected annual savings of ₹1.0-1.2 Cr. Management set an export revenue target of ₹1,000 Cr by FY28 and aims for ~30% increase in plant utilization through operational efficiencies.
Revenue growth is strong but margin compression signals cost headwinds that may limit near-term profitability gains despite volume expansion. The FY28 revenue target of ₹1,000 Cr (nearly double FY26) and multi-market expansion plans indicate ambitious growth but execution risk exists given geopolitical and raw material volatility.