We hereby submit the financial result for the quarter and year ended on March 31, 2025
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Shish Industries Limited reported strong FY25 results with standalone revenue from operations growing ~37.8% to ₹11,778.82 lakh (vs ₹8,547.88 lakh in FY24). Standalone PAT rose ~29.9% to ₹1,095.21 lakh (vs ₹843.20 lakh). Q4 standalone revenue grew ~30.2% to ₹3,347.35 lakh. Consolidated revenue grew ~35.6% to ₹11,625.12 lakh, though consolidated PAT grew only ~9.2% to ₹874.03 lakh due to weaker subsidiary performance (Q4 consolidated PAT was just ₹237.72 lakh). The board also reviewed updates on the 5-year trade agreement with Best Construction Products Inc. (USA), with certification work in progress and supplies expected to start by year-end. The statutory auditor issued an unmodified opinion on both sets of results.
Strong top-line growth and healthy standalone profitability are positive signals for shareholders. However, the consolidated bottom line significantly lagged standalone results, and both standalone (₹-2,437 lakh) and consolidated (₹-1,741 lakh) operating cash flows remained deeply negative, indicating heavy working capital absorption. Investors should watch for improvement in subsidiary profitability and cash conversion.