Outcome of the Board Meeting and Submission of the Audited Standalone Financial Results for the Half year and year ended March 31, 2026.
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Shelter Pharma reported strong revenue growth of 44.4% to Rs 7,313.36 lakh for FY26 vs Rs 5,066.02 lakh in FY25. Profit after tax grew 24.7% to Rs 902.72 lakh from Rs 723.74 lakh. However, EBITDA margin compressed from 19.9% to 17.4% due to rising raw material costs. The company raised Rs 2,531.20 lakh through preferential warrant issuance (converted partly to equity shares). Operating cash flow turned sharply negative at Rs -1,248.01 lakh (vs +Rs 542.28 lakh prior year), driven by large increases in inventory (up Rs 1,154.37 lakh), trade receivables (up Rs 233.20 lakh), and short-term loans (up Rs 1,067.81 lakh). Statutory auditors issued an unmodified opinion confirming clean financials. New internal auditors (CA Ismail Ibrahimbhai Lakhani) appointed for FY27.
Strong top-line and bottom-line growth is positive, but the significant negative operating cash flow and working capital build-up raise concerns about cash conversion quality. Shareholders should monitor if inventory and receivable increases are due to business growth or potential collection issues.