Unaudited Financial results of the Shiva Global Agro Industries Limited for the quarter and half year ended September 30, 2025
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The Board approved unaudited financial results for Q2 and H1 FY26 on November 14, 2025. On a standalone basis, revenue from operations rose about 24% year-on-year in Q2 to Rs 1,785.98 lakhs and about 46% in H1 to Rs 5,378.92 lakhs, driven mainly by the Fertilizers segment. Standalone Q2 slipped into a net loss of Rs 178.58 lakhs versus a loss of Rs 174.40 lakhs in Q2 FY25, but H1 FY26 swung to a net profit of Rs 31.99 lakhs from a loss of Rs 510.86 lakhs a year earlier. Consolidated revenue fell sharply to Rs 4,632.01 lakhs in Q2 (from Rs 9,429.82 lakhs) because the company divested two subsidiaries (Shiva-Parvati Poultry Feed and Ghatprabha Fertilizers) in late 2024, which limits like-for-like comparison and also caused the Solvent segment to drop out of consolidated results. The statutory auditors, Falor Jhavar Khatod & Co., issued an unmodified limited review report on both standalone and consolidated results.
Fertilizers remains the core growth engine on a standalone basis, but Q2 standalone loss shows margin pressure is not fully resolved; consolidated numbers will remain structurally smaller going forward and are not directly comparable to last year. Shareholders should watch whether standalone Q2 profitability recovers before reading too much into the H1 turnaround.