We are submitting herewith the unaudited result for the quarter ended June 30, 2025 along with Auditor Report.
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Shervani Industrial Syndicate reported Q1 FY26 standalone revenue from operations of Rs. 779 lakh, down about 19% YoY from Rs. 960 lakh in Q1 FY25. Standalone net profit swung to Rs. 36 lakh (EPS Rs. 1.39) versus a small loss of Rs. 4 lakh in the year-ago quarter. On a consolidated basis, revenue fell to Rs. 885 lakh while net profit more than doubled to Rs. 34 lakh from Rs. 16 lakh YoY. A major positive: the company's Rs. 2,839.62 lakh income tax demand was allowed in its favour by the Commissioner of Income Tax (Appeals), wiping out that contingent liability. The auditor flagged an inability to determine the fair value of the company's investment in erstwhile associate Star Hotel Private Limited under Ind AS 109.
The full removal of the Rs. 28+ crore tax contingency is a significant relief for shareholders and removes a major overhang on the stock. However, the top line is shrinking and profits remain thin, with the IT segment still loss-making and earnings heavily dependent on the real estate business.